Authors : A.A. Ajupov, A.N. Kiryushkina, M.O. Iskoskov, R.S. Ozernov and M.V. Selyukov
Abstract: Currently, many regions of the Russian Federation have big volumes of budget deficit. Also, regions receiving less funding from the federal budget. Their own income is limited. Subjects of the Russian Federation will use more often market mechanisms of financing budget deficit. That will lead to growth of the central regional government debt. The study examines practice of using the government bonds on regional level including the advantages and disadvantages instrument of debt financing before others. The researchers generalized and systematized the factors which determine the choice of regional bonds as tool to finance regional public debt and budget deficit.
A.A. Ajupov, A.N. Kiryushkina, M.O. Iskoskov, R.S. Ozernov and M.V. Selyukov, 2017. Public Bonds of the Regional Level in the Russian Federation. Journal of Engineering and Applied Sciences, 12: 4870-4875.