Subject The article reviews four main types of budget reserves of the constituent entities of the Russian Federation, the USA and Canada, i.e. reserve funds of constituent entities of the Russian Federation, reserve funds of supreme executive authorities of the constituent entities of the Russian Federation, Rainy Day Funds and Contingency Reserve Funds of the US and Canadian provinces. Objectives In Russia, the greatest attention is paid to the budget reserve of the Federal budget, while the budget reserves at the level of subjects of the Federation are underexplored and require close scientific understanding, as they bear the greatest social burden. Methods The fundamental research method is a comparative analysis of the theoretical representation of scientific articles, statutory documents of the subjects of the Federation and annual reports on reserve funds of the USA and Canada. Results The results of the analysis of reserve funds of the constituent entities of the Russian Federation, reserve funds of supreme executive authorities of the constituent entities of the Russian Federation, Rainy Day Funds and Contingency Reserve Funds of the USA and Canadian provinces are presented in the form of a matrix-characteristic of these four types of funds by eleven criteria. Conclusions The performed theoretical and practical analysis of the four types of budget reserves is generalized in the form of directions for improving the Methodological Recommendations for subjects of the Russian Federation regarding the formation and use of regional funds of financial reserves of the Ministry of Finance of the Russian Federation.
Keywords: fiscal risk, regional budget, budgetary reserve, reserve fund, sovereign wealth fund
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