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

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 20142017. 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.