Роль пространственных взаимосвязей между субъектами Российской Федерации в накоплении регионального долга
This paper analyzes the regional debt problem in the context of spatial effects in Russian regions. Using spatial econometrics, we determine the key socio-economic factors of the regional debt accumulation. We show that an increase in the debt in one region affects the debt accumulation in the neighbor regions. We also find that regional debt depends positively on the government spending in the neighbor regions. On the contrary, the unemployment rates in close regions negatively affect the debt accumulation. In addition, we show that these spatial effects are larger for the regions which are economically similar.