Clustering of Russian Regions by Level of Debt Sustainability

The subject of the paper is the assessment of regional debt sustainability in accordance to the Budget Code of the Russian Federation. The relevance of the study is due to the aggravation of the regional debt problems at the end of 2020 and the need to have an assessment system that allows to timely...

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Autor principal:	Igor Yu. Arlashkin
Formato:	article
Lenguaje:	EN RU
Publicado:	Financial Research Institute 2021
Materias:	subject of the russian federation debt sustainability cluster analysis ward’s method k-means clustering regional debt debt service debt repayment Finance HG1-9999
Acceso en línea:	https://doaj.org/article/1516757b35094898a77b3b87931f0468
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spelling	oai:doaj.org-article:1516757b35094898a77b3b87931f04682021-11-04T14:06:42ZClustering of Russian Regions by Level of Debt Sustainability10.31107/2075-1990-2021-5-108-1242075-19902658-5332https://doaj.org/article/1516757b35094898a77b3b87931f04682021-10-01T00:00:00Zhttps://www.finjournal-nifi.ru/images/FILES/Journal/Archive/2021/5/statii/08_5_2021_v13.pdfhttps://doaj.org/toc/2075-1990https://doaj.org/toc/2658-5332The subject of the paper is the assessment of regional debt sustainability in accordance to the Budget Code of the Russian Federation. The relevance of the study is due to the aggravation of the regional debt problems at the end of 2020 and the need to have an assessment system that allows to timely respond to a decrease in the level of regional debt sustainability. The novelty of the study consists in the analysis of the system of debt sustainability indicators and their threshold values using the methods of cluster analysis. The article aims to examine if the current assessment system allows to classify regions by the level of debt sustainability quite clearly. As a result of the study, it was shown that the used debt sustainability indicators partially duplicate each other, and the methods of their calculation and the established threshold values discriminate against subsidized regions. In addition, it was shown that the grouping of regions based on the current assessment system does clearly distinguish between regions with high and medium levels of debt sustainability. The conclusion of the study is that in order to improve the system for assessing debt sustainability, it is necessary to change the set of debt sustainability indicators and the procedure for calculating them, as well as to set appropriate new threshold values for the new set of indicators. The prospect of the study is to conduct a similar analysis based on data for 2020 and refine new thresholds for debt sustainability indicators.Igor Yu. ArlashkinFinancial Research Institutearticlesubject of the russian federationdebt sustainabilitycluster analysisward’s methodk-means clusteringregional debtdebt servicedebt repaymentFinanceHG1-9999ENRUФинансовый журнал, Vol 13, Iss No. 5, Pp 108-124 (2021)
institution	DOAJ
collection	DOAJ
language	EN RU
topic	subject of the russian federation debt sustainability cluster analysis ward’s method k-means clustering regional debt debt service debt repayment Finance HG1-9999
spellingShingle	subject of the russian federation debt sustainability cluster analysis ward’s method k-means clustering regional debt debt service debt repayment Finance HG1-9999 Igor Yu. Arlashkin Clustering of Russian Regions by Level of Debt Sustainability
description	The subject of the paper is the assessment of regional debt sustainability in accordance to the Budget Code of the Russian Federation. The relevance of the study is due to the aggravation of the regional debt problems at the end of 2020 and the need to have an assessment system that allows to timely respond to a decrease in the level of regional debt sustainability. The novelty of the study consists in the analysis of the system of debt sustainability indicators and their threshold values using the methods of cluster analysis. The article aims to examine if the current assessment system allows to classify regions by the level of debt sustainability quite clearly. As a result of the study, it was shown that the used debt sustainability indicators partially duplicate each other, and the methods of their calculation and the established threshold values discriminate against subsidized regions. In addition, it was shown that the grouping of regions based on the current assessment system does clearly distinguish between regions with high and medium levels of debt sustainability. The conclusion of the study is that in order to improve the system for assessing debt sustainability, it is necessary to change the set of debt sustainability indicators and the procedure for calculating them, as well as to set appropriate new threshold values for the new set of indicators. The prospect of the study is to conduct a similar analysis based on data for 2020 and refine new thresholds for debt sustainability indicators.
format	article
author	Igor Yu. Arlashkin
author_facet	Igor Yu. Arlashkin
author_sort	Igor Yu. Arlashkin
title	Clustering of Russian Regions by Level of Debt Sustainability
title_short	Clustering of Russian Regions by Level of Debt Sustainability
title_full	Clustering of Russian Regions by Level of Debt Sustainability
title_fullStr	Clustering of Russian Regions by Level of Debt Sustainability
title_full_unstemmed	Clustering of Russian Regions by Level of Debt Sustainability
title_sort	clustering of russian regions by level of debt sustainability
publisher	Financial Research Institute
publishDate	2021
url	https://doaj.org/article/1516757b35094898a77b3b87931f0468
work_keys_str_mv	AT igoryuarlashkin clusteringofrussianregionsbylevelofdebtsustainability
_version_	1718444821184512000

Clustering of Russian Regions by Level of Debt Sustainability

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