People and money: incomes, consumption and financial behavior of the population of the Russian regions in 2000–2017

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Abstract

Macroeconomic dynamics affects incomes of regions’ population and level of poverty: positive shifts in the distribution of regions in relation to these indicators slowed down in the 2010s and were replaced by a negative shift (more apparent in poverty rate) during the crisis of 2014–2017. Income dynamics had a stronger effect on consumption structure and less on population financial behavior. The share of food expenditures is declined in all regions until the 2014 crisis; the most developed regions have the lowest percentage. Structural shift in expenditures in favor of durable goods, including housing, is far from complete in most regions. The increase in the share of expenditures for services is largely due to the growth of tariffs for public utility services. Regional differences are small, with the exception of the Far North regions. The share of spending on human capital reproduction is low and varies slightly between regions. The population of “rich” regions prefers to spend money on recreation and entertainment, but these expenses are shrunken during the last crisis. Individuals' savings behavior is mostly developed in the largest federal cities. Overdue loans are higher in underdeveloped republics and in resource-producing regions, whose population seeks to maintain the level of consumption using loans. The main factor in change structure of consumption and financial behavior is the population incomes, but demographic, settlement and institutional factors must be considered to explain regional differences.

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About the authors

N. V. Zubarevich

Lomonosov Moscow State University; National Research University Higher School of Economics, Institute for Social Policy

Author for correspondence.
Email: nzubarevich@gmail.com

Faculty of Geography

Russian Federation, Moscow

S. G. Safronov

Lomonosov Moscow State University

Email: saffff@mail.ru

Faculty of Geography

Russian Federation, Moscow

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Supplementary files

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2. Fig. 1. Distribution of regions (excluding the republics of Chechnya, Crimea, and the city of Sevastopol) by: (a) the ratio of average per capita income and cost of living; (b) the level of poverty; (c) the share of food expenses; (d) - the share of payment for services in the structure of consumer spending.

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3. Fig. 2. The use of cash income for the acquisition of real estate for 2000-2017, in% of the total cash income of the population.

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4. Fig. 3. The distribution of regions according to the share of services and the share of expenses for organizing leisure, cultural events, hotels, cafes and restaurants in household consumer spending on average for 2013-2017,%.

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5. Fig. 4. Distribution of regions in relation to the volume of individuals' deposits at the end of the year and loan debt to the annual income of the population in 2018,% (estimate based on data on incomes of the population for October – November 2018).

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6. Fig. 5. The share of non-payments for housing services in federal districts (the ratio of paid and accrued bills),%.

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