An uneven distribution of natural resources and the Soviet legacy of artificial regional specialization expose Russia … exogenous shocks that we use to show that fiscal policy in Russia's regions has largely been pro-cyclical, exacerbating rather …

Russia''s regions are heavily exposed to regional income shocks because of an uneven distribution of natural resources … and a Soviet legacy of heavily skewed regional specialization. Also, Russia has a limited mobility of labor and lacks …

Russia's regions are heavily exposed to regional income shocks because of an uneven distribution of natural resources … and a Soviet legacy of heavily skewed regional specialization. Also, Russia has a limited mobility of labor and lacks …

Russia's regions are heavily exposed to regional income shocks because of an uneven distribution of natural resources … and a Soviet legacy of heavily skewed regional specialization. Also, Russia has a limited mobility of labor and lacks …