Redistribution of tax revenues between the levels of the budget system in the russian federation[Влияние Региональной Межбюджетной Политики На Экономический Рост В Российских Регионах]

The subject of the study is intraregional fiscal decentralization and regional financial assistance to local budgets. The relevance of the study is caused by the need to improve intergovernmental fiscal policy in order to ensure economic growth amidst the structural transformation of the Russian economy. The purpose of the study is to assess the impact of intraregional fiscal decentralization and regional financial assistance to local budgets on regional economic growth. The research method is to estimate panel regressions for a sample of 73 regions for 2011–2021. The scientific novelty of the work lies in the use of the latest available data (until 2021), as well as in conducting an assessment in relation to inter- budgetary relations between the regional and municipal levels in Russia. As a result of the study, it was shown that there is a non-linear relationship between expenditure decentralization and economic growth, and the level of tax decentralization and the volume of regional financial assistance do not have a sustainable and significant impact on economic growth, however, capital subsidies have a positive effect on economic growth in wealthy regions, and targeted financial assistance has a negative effect on economic growth in low- income regions. The conclusion of the study is that the optimal level of expenditure decentralization lies in the range from 25 to 30 %; wealthy regions should use capital transfers to stimulate economic growth, and low-income regions should use non-targeted financial assistance. The prospects of the study are to assess the impact of intraregional fiscal decentralization and regional financial assistance to local budgets on regional and municipal tax revenues.