Budget federalism and interbudgetary relations

Article Abstract:

This article examines Russian budget federalism, which began in 1992 and lead to the decentralization of the tax system and budget policy through the distribution of tax receipts and influenced financial and social spending. Issues include the negative consequences of rapid change in the ratio of spending authority between subfederal and federal levels such as the delimitation of spending powers, the failure of transfers from federal budget to perform their functions, the failure to settle the distribution of revenues or problems in the mutual relations between regional and federal budgets, and the continuation of the irrational structure of spending.

Statistical Data Included, Federalism, Political aspects, Government spending policy

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The reform of interbudgetary relations: new tasks

Article Abstract:

This article discusses the emergence of fiscal federalism in Russia since the end of the 1990s, including the enactment of legislation laying the foundations for the country's new budget system. The author examines future problems in creating this system by reviewing the results from reforms of 1999-2001, and analyzing long term strategies including the decentralization of the budget system, the delimitation of spending authority and of tax authority, fiscal equalization, and management of regional finances.

Analysis, Planning, Economic policy

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The prospects for surmounting the banking crisis in Russia

Article Abstract:

The Central Bank of the Russian Federation needs to work on improving the banking industry's reliability by tightening capital and liquidity standards, exceeding those used in Basel, Switzerland. The market for short-term state securities should be developed.

Banking industry

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