Poland, Latvia: Public Investment Declines in Poland and Latvia
A decline in EU funding in 2016 has driven a contraction in infrastructure investment in both Poland and Latvia. As a result, GDP growth in both countries slowed in 1Q16. Household consumption, meanwhile, continues to advance, thanks to rising wages and lower unemployment. Economic growth is expected to accelerate again in 2017, however, due to a recovery in EU budget expenditures.
The following research contains results of detailed quantitative empirical analysis of key budget indicators in municipal districts of Nizhniy Novgorod region, according to which we reveal main regional trends and differences in levels of economic development. We group districts of the region by share of regional subsidize in their revenues and make a conclusion about essential dependence of municipal districts on regional budget. As far as dependence is concerned we outline possible risks of socio-economic development of municipal districts, corresponding to the level of revealed correlation. Outcomes of the research are worth being used in the process of developing new subsidization policies or designing strategies of territorial development.
The aim of this paper is to examine the development of a financial framework for assessing the effectiveness of interventions. The research is based on the evidence from Serbia. In terms of methods applied, we used econometric and scenario analysis. We presented — as individual separate items — the issues such as “who” — Government budget (Ministry, specific program, loan, donor, etc.), “how much” — the amount spent, “where” (NUTS 2 region), and on “what” (type of initiative). In our model, each of the interventions applied to one of the regional development priorities is linked and evaluated by its effectiveness observing the performance of the group of indicators associated with each of the priorities. All data obtained from 8 sectors were categorized under 4 priorities, i.e. “People, Place, Productive Capacity, and Institutional Capacity”. Accordingly, we evaluate the effectiveness by observing the performance of a group of indicators related to each of the priorities. Our recommendations for optimizing the distribution structure of regional policies and regions are determined by the analysis of the performance of the group of indicators and their relative rankings per NUTS 2 region. The results are significant for further theoretical and applied research, as well as decision- making in the field of government financial policy. Our results confirmed that calculations of funds for regional development in strategic areas appear to be slightly problematic because, in the past, there was no strategic distribution based on established facts, which could be measured in terms of performance.
Debt practices and strategies of Russian regions are surveyed, as constrained by federal legislation. Major factors that impact debt policy reviewed and regions are grouped depending on their approach to debt financing.