Regional risk-sharing in Ukraine

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dc.contributor Bank of Finland
dc.contributor.author Fidrmuc, Jarko
dc.contributor.author Moroz, Serhiy
dc.contributor.author Reck, Fabian
dc.date.accessioned 2020-11-23T08:32:41Z
dc.date.available 2020-11-23T08:32:41Z
dc.date.issued 2020
dc.identifier.isbn 978-952-323-355-3
dc.identifier.issn 1456-5889
dc.identifier.uri https://helda.helsinki.fi/bof/handle/123456789/17731
dc.description.abstract This paper analyzes the impact of ethnic heterogeneity and military conflict on the degree of regional consumption risk-sharing in Ukraine. Ethnicity and violent conflicts can influence risk-sharing e.g. through social capital, ethnic fractionalization, migration, and remittances. The sample consists of 25 Ukrainian oblasts and covers the highly volatile period from 2003 to 2016. Our results suggest that the degree of consumption risk-sharing is comparably high; between 70 and 80 percent on average. Moreover, consumption risk-sharing is significantly higher in the regions with a large Russian minority, which are enjoying special treatment by Russia. By contrast, the degree of financial development, as proxied by deposit and loan share in GRP, does not significantly affect the regional degree of consumption risk-sharing. Furthermore, we apply spatial models to control for spatial dependence across regions. Results are confirmed and it is shown that spatial correlation is important. Finally, we show that the recent geopolitical conflict in east Ukraine changed the regional degree of consumption risk-sharing.
dc.format.extent 34
dc.language.iso ENG
dc.relation.ispartofseries BOFIT Discussion Papers
dc.rights https://helda.helsinki.fi/bof/copyright
dc.subject Bofit-kokoelma
dc.subject Ukraina
dc.subject.other Ukraine
dc.subject.other risk-sharing
dc.subject.other ethnic heterogeneity
dc.subject.other social capital
dc.subject.other remittances
dc.subject.other spatial regression
dc.title Regional risk-sharing in Ukraine
dc.type Paper
dc.identifier.urn URN:NBN:fi:bof-202011232500
dc.subject.jel E32
dc.subject.jel E21
dc.subject.jel R12
dc.subject.jel P25
dc.series.name BOFIT Discussion Papers
dc.series.year 2020
dc.series.number 25/2020
dc.series.sortingnumber 0025
dc.date.publication 23.11.2020
dc.subject.yso etnisyys
dc.subject.yso vähemmistöt
dc.subject.yso geopolitiikka
dc.subject.yso konfliktit
dc.subject.yso kulutus
dc.subject.yso tulot
dc.subject.yso kotitaloudet (organisaatiot)
dc.subject.yso sosiaalinen pääoma
dc.contributor.orgunit Institute for Economies in Transition (BOFIT)
dc.description.publication Published in Empirica 48, 645-660 (2021)
dc.type.okm D4

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