A growing body of theoretical contributions and empirical studies has explored how the spatial distribution of public resources and governmental transfers is likely to be driven by efficiency and equity, as well as by political considerations. This article applies this line of research to...

In this paper we provide a brief overview of some of the most recent empirical research on spatial econometric models and spatial data mining. Data mining in general is the search for hidden patterns that may exist in large databases. Spatial data mining is a process to discover interesting,...

This paper revisits the soft budget constraint problem arising in decentralised countries. Capturing the specific dynamics of political decision making in a federation, new light is shed on the incentives at work when lower-level (state) governments overborrow and are bailed out by the federal...

This study suggests a two-step approach to identifying and interpreting regional convergence clubs in Europe. The first step calculates Bayesian probabilities for various assignments of regions to two clubs using a general stochastic space-time dynamic panel relationship between growth rates and...

This study investigates the factors that drive the distribution of foreign direct investments (FDI) into European regions, trying to disentangle the spatial complexity of this economic relationship. In particular, we argue that regions' capacity to attract FDI is affected by own-country effects,...

Supply subsidies to owners of rental housing construction are typically aimed at increasing the overall size of the housing stock or at guaranteeing affordable housing for low-income households. This paper studies whether and how much the tenants of social housing units benefit from this...

The Russian securities market is the largest in CIS. What are its prospects in the context of regional development? According to World Economic Forum, Russia ranked 39th among the most developed financial systems in 2012. Weak competitive positions of the Russian financial sector are mainly...

Development of countries and regions is possible thanks to their adequate infrastructure. The globalization of economic processes has contributed to the increase in the intensity of the movement of all kinds of goods, which is possible due to the transport infrastructure. Transport is one of the...

An increasing number of hazardous natural phenomena is one of the results of climate change for Russia. Risks increase in coastal areas with high concentration of hazards and high density of population and economic activity. In 2012, an integrated damage from floods was about 1 billion euros;...

After the price liberalization in 1991, the Russian economy was faced with a jump of costs of transportation in real terms. New Economic Geography (NEG) gives answers to questions that are related to changes in transport costs. However, the outcomes of NEG models are very sensitive with respect...