{"id":1863,"date":"2026-10-09T13:19:28","date_gmt":"2026-10-09T10:19:28","guid":{"rendered":"http:\/\/iep.kolasc.net.ru\/journal\/eng\/?page_id=1863"},"modified":"2026-10-09T13:19:28","modified_gmt":"2026-10-09T10:19:28","slug":"spatial-differentiation-of-financial-behavior-in-russia-identifying-northern-regions-through-cluster-analysis1","status":"publish","type":"page","link":"http:\/\/iep.kolasc.net.ru\/journal\/eng\/?page_id=1863","title":{"rendered":"SPATIAL DIFFERENTIATION OF FINANCIAL BEHAVIOR IN RUSSIA: \u00a0IDENTIFYING NORTHERN REGIONS THROUGH CLUSTER ANALYSIS[1]"},"content":{"rendered":"

Original article<\/p>\n

Download article\u00a0<\/a>\u00a0<\/strong><\/p>\n

Anna A. Vorontsova <\/strong><\/p>\n

Central Bank of the Russian Federation, Arkhangelsk, Russia, 11sveconom@cbr.ru<\/a>, ORCID 0009-0002-9394-0669<\/p>\n

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Abstract. <\/strong>This article examines the financial behavior of the population in Russia\u2019s northern regions. It is assumed that household consumption and savings behavior in these regions systematically differs from national averages due to unique climatic conditions. Therefore, an attempt is made to scientifically substantiate the classification of Russia’s northern regions into a separate cluster based on the financial patterns of their residents. By northern regions, we mean the constituent entities of Russia whose territories have been legally designated (fully or partially) as the Far North. Using a variety of clustering methods, Russian regions were divided into five groups. It is worth noting that the northern regions consistently formed separate groups regardless of the method used, thus confirming our initial hypothesis about their uniqueness. Meanwhile, major economic centers (Moscow, St. Petersburg, and the Moscow Region) also fell into these groups. However, we believe that the high incomes and high savings per capita in the North are due to other factors. Furthermore, several border regions (for example, the Arkhangelsk Region) were identified as lagging behind most northern territories in terms of income levels. A hypothesis was also formulated regarding the different responses of the populations of the Far North regions to monetary policy, but this requires further verification. Overall, this article contributes to the body of literature on the economies of Russia\u2019s northern territories with a focus on household finances, an area that remains relatively understudied.<\/p>\n

Keywords: <\/em>clustering, consumer and savings behavior, financial situation of households, heterogeneity of Russian regions<\/p>\n

Acknowledgements:<\/strong> The author thanks Yu. V. Gudkova and E. V. Chetverikova for valuable discussions and assistance in preparing this article.<\/p>\n

For citation:<\/strong> Vorontsova A. A. Spatial differentiation of financial behavior in Russia: Identifying northern regions through cluster analysis. Sever i rynok: formirovanie ekonomicheskogo poryadka <\/em>[The North and the Market: Forming the Economic Order], 2026, no. 3, pp. 178\u2013194. doi:10.37614\/2220-802X.3.2026.93.012.<\/p>\n

[1]<\/a> The views expressed herein are solely those of the author. The content and results of this research should not be considered or referred to in any publications as the Bank of Russia\u2019s official position, official policy, or decisions. Any errors in this document are the responsibility of the author.<\/p>\n

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    Original article Download article\u00a0\u00a0 Anna A. Vorontsova Central Bank of the Russian Federation, Arkhangelsk, Russia, 11sveconom@cbr.ru, ORCID 0009-0002-9394-0669 Abstract. This article examines the financial behavior of the population in Russia\u2019s northern regions. It is assumed that household consumption and savings … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"sidebar-page.php","meta":{"footnotes":""},"class_list":["post-1863","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"http:\/\/iep.kolasc.net.ru\/journal\/eng\/index.php?rest_route=\/wp\/v2\/pages\/1863","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/iep.kolasc.net.ru\/journal\/eng\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"http:\/\/iep.kolasc.net.ru\/journal\/eng\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"http:\/\/iep.kolasc.net.ru\/journal\/eng\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/iep.kolasc.net.ru\/journal\/eng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1863"}],"version-history":[{"count":1,"href":"http:\/\/iep.kolasc.net.ru\/journal\/eng\/index.php?rest_route=\/wp\/v2\/pages\/1863\/revisions"}],"predecessor-version":[{"id":1864,"href":"http:\/\/iep.kolasc.net.ru\/journal\/eng\/index.php?rest_route=\/wp\/v2\/pages\/1863\/revisions\/1864"}],"wp:attachment":[{"href":"http:\/\/iep.kolasc.net.ru\/journal\/eng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}