Debt Policy for the Sustainable Development of Russian Regions and Megacities

Relevance. In recent years, the role of ESG (Environmental, Social and Governance) bonds has been rapidly growing in the world. ESGs are used to raise funds for programs for sustainable development of territories.Research objective. The paper studies the cases of Russian regions using green bonds and considers the prospects of this tool in the Russian context.Data and Methods. The analysis focuses on the debt indicators of Russian regions and related budgetary indicators based on open source data from the Ministry of Finance, the Treasury, and independent rating agencies. The methods of comparative and retrospective analysis are used to identify the state and features of regional debt policy.Results. Our analysis of the debt policy of Russian regions and megacities shows a low level of their activity in the stock market as issuers of bonds. This can be explained by the complexity of the system of subnational finances and the role of the Federation in preventing default situations, and therefore the priority use of budget loans. The city of Moscow was a pioneer in this matter in Russia. This determines the uniqueness of Moscow's experience in implementing debt policy.Conclusions. The expansion of the green bond practice will allow Russia to move forward in achieving the goals of ESG agenda, which, despite the large-scale sanctions imposed on Russia at the moment, still remains relevant

Late Pleistocene and Holocene vegetation and climate on the northern Taymyr Peninsula, Arctic Russia

Pollen data from a Levinson-Lessing Lake sediment core (74°28'N, 98°38'E) and Cape Sabler, Taymyr Lake permafrost sequences (74°33'N, 100°32'E) reveal substantial environmental changes on the northern Taymyr Peninsula during the last c. 32000 14C years. The continuous records confirm that a scarce steppe-like vegetation with Poaceae, Artemisia and Cyperaceae dominated c. 32 000–10300 14C yr BP, while tundra-like vegetation with Oxyria, Ranunculaceae and Caryophyllaceae grew in wetter areas. The coldest interval occurred c. 18000 yr BP. Lateglacial pollen data show several warming events followed by a climate deterioration c. 10500 14C yr BP, which may correspond with the Younger Dryas. The Late Pleistocene/Holocene transition, c. 10300–10000 14C yr BP, is characterized by a change from the herb-dominated vegetation to shrubby tundra with Betula sect. Nanae and Salix. Alnus fruticosa arrived locally c. 9000–8500 14Cyr BP and disappeared c. 4000–3500 14Cyr BP. Communities of Betula sect. Nanae, broadly distributed at c. 10000–3500 14Cyr BP, almost disappeared when vegetation became similar to the modern herb tundra after 3500–3000 14Cyr BP. Quantitative climate reconstructions show Last Glacial Maximum summer temperature about 4°C below the present and Preboreal (c. 10 000 14C yr BP) temperature 2–4°C above the present. Maximum summer temperature occurred between 10 000 and 5500 14C yr BP; later summers were similar to present or slightly warmer

Fiscal resilience of Russia's regions in the face of COVID-19

Purpose: The purpose of the study was to analyze how COVID-19 pandemic affects regional budgets and regional fiscal resilience in Russia. Design/methodology/approach: The research article is structured as follows. Based on the official data from the Ministry of Finance, the Federal Treasure and the Accounts Chamber of the Russian Federation, first, the state of Russian regional budgets before and under COVID-19 is analyzed. Second, due to the increase of regional spending commitments under pandemic the regional debt dependence is reviewed. Third, anticrisis fiscal measures which have been taken to combat the negative impact of COVID-19 are discussed. Findings: In general, 2020 may be the most difficult for regional budgets, although the results of the first quarter do not show such tension. However, the impact of COVID-19 on budget indicators is ambiguous because the economic crisis of 2020 is dual, including the crisis in the oil markets. The pandemic has become a unique global phenomenon, the effect of which is difficult to identify and interpret outside of the economic aspects of life. Originality/value: The value of the article is based on the overview of the state of regional budgets before and under COVID-19, on the analysis of how pandemic affects fiscal resilience of the regional budgets and on the forecast of how serious the volume of lost revenues are going to be

Characteristics of bronchopulmonary system functional state and motor function of bronchi in case of chronic pneumonia in children in respect of surgical treatment

Available from VNTIC / VNTIC - Scientific & Technical Information Centre of RussiaSIGLERURussian Federatio

Features and Prospects for Development of Interregional Cooperation in Russia

The study formulated the key principles and features of interregional cooperation in Russia, as well as the forms and features of horizontal interaction in order to develop recommendations for executive authorities

Les banques privées en Russie

International audienc

Les banques privées en Russie

The very quick expansion of private banks in Russia was accompanied by significant geographical polarization which mostly favoured Moscow. The analysis of the present banking system map is quite surprising since urban hierarchy is only partially respected.Le développement très rapide des banques privées en Russie s’est accompagné d’une polarisation géographique très significative profitant essentiellement à Moscou. L’examen de la carte des banques actuelles réserve bien des surprises. La hiérarchie urbaine n’est en effet que partiellement respectée.Klimanov Vladimir, Eckert Denis. Les banques privées en Russie. In: Mappemonde, 1996/1. pp. 7-9

DEVELOPMENT TOOLS FOR THE FAR EAST AND THE ARCTIC OF RUSSIA

Studying the development problems of the Arctic and the Far East has always been relevant due to the specific nature of these territories. At the same time, the existing support tools do not always consider this specificity, which is why the effects of their use are minimal. In this regard, the purpose of this study is to develop recommendations for improving the social and economic development policy tools for the Far Eastern and Arctic regions. This goal will be addressed within the framework of solving the following tasks: systematization of existing development tools, assessment of the economic and social effects of the measures applied, producing recommendations for the development or exclusion of existing tools. The study was conducted using the methods of content analysis, retrospective analysis, and classification. The sources of information included regulatory documents and strategic planning documents, scientific publications, analytical data, and official statistics. As a result, a list of measures for the development of the regions of the Far East and the Arctic was produced, and areas that required improvement were identified. The key findings are as follows. Most of the development tools are focused on stimulating economic growth and increasing investment appeal, rather than improving the demographic situation. The measures taken fail to translate into the expected economic and social effects. The number of specific and individual instruments for stimulating the socio-economic development of the Far East and the Arctic is insignificant. Some of the instruments duplicate each other, which entails uncertainty when considering opportunities for capital investments, disorienting potential investors. As recommendations, it is proposed to review the list of instruments towards greater social support, development of individual mechanisms, and unification of territorial development instruments with overlapping scopes