title: The verification of regional capital mobility in the Russian Federation: A spatial econometric approach
metadata.name: dc.contributor.author
metadata.value: Shcherbakov, Vasilii S.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Tereshchenko, Dmitrii S.
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2023-03-30T12:50:42Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2023-03-30T12:50:42Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2023-03
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Shcherbakov, V. S. and Tereshchenko, D. S. (2023) ‘The verification of regional capital mobility in the Russian Federation: A spatial econometric approach’, St Petersburg University Journal of Economic Studies, 39 (1), pp. 102–126. https://doi.org/10.21638/spbu05.2023.105
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: https://doi.org/10.21638/spbu05.2023.105
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/39446
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: In many cases the perfect capital mobility hypothesis is used by default. Therefore, if we follow
  this idea there should not be any connection between internal savings and investments in a country
  or at least this connection must be not significant. But some of empirical research demonstrate
  opposite results. In economic literature this concept is well-known as the “Feldstein — Horioka
  Puzzle”. Considering the relative lack of studies concerning this theme on the regional level, it
  seems quite perspective to research the hypothesis from the mesoeconomical point of view. So,
  the central aim of this article is the verification of regional capital mobility in the Russian Federation,
  following the logics of the Feldstein — Horioka Puzzle. The main peculiarity of the paper
  is based on the application a spatial econometric approach. The authors use SLX (spatial lag of X
  model) and SDM (spatial Durbin model) models to achieve the aim. As the result it was found out
  that there is almost perfect capital mobility situation on the regional level in the Russian Federation.
  Hereby the Feldstein — Horioka Puzzle was rejected. Along with it several significant direct
  and indirect effects were established (for instance, reinforced interaction between geographical
  neighbors-region, absent of capital flow from some regions and other). The results can be used for
  the consideration of relatively more efficient regional government policy.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: en
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: St Petersburg University Journal of Economic Studies;Volume 39; Issue 1
metadata.lang: -
metadata.name: dc.subject
metadata.value: regional economy
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: investments
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: savings
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: regional capital mobility
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: Feldstein — Horioka Puzzle
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: spatial econometrics
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: The verification of regional capital mobility in the Russian Federation: A spatial econometric approach
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 05.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/39446/1/05.pdf
resources.format: Adobe PDF
resources.size: 1,73 MB