bluuebunny/crossref_metadata_2025 huggingface dataset:
Foreign Branches vs. National Interests
Authors: Rozinskiy I.
Published: March 2019

Sizeable sector of foreign-owned entities has emerged in Russia, comprising branches, daughter companies and majority-owned companies of foreign investors. The focus of regulator’s and researcher’s attention should be moved from the extent to which FDI are to be admitted / attracted to Russia to the analysis of whether the format of the already existing foreign-owned entities is the desired one. Globalization leads to differentiation of branches and daughter companies of multinational corporations. People, plants, business lines and even corporate head offices have become transferable from one country to another. This process is greatly intensifying the international competition for the share in the value chain attributable to individual countries. Russia, being the huge market, is in a position to demand a substantial degree of localization from international companies seeking to enter the country. The regulator’s approach towards those potential entrants should be dependent upon their readiness to allocate to Russia a considerable part of the company’s value chain. It is proposed to use corporate governance mechanisms as an instrument to promote national economic interests.
Does Poverty Research in Russia Follow the Scientific Method?
Authors: Lokshin M.
Published: March 2019

This paper presents the first critical review of literature on poverty published in Russia between 1992 and 2006. Using a dataset of about 250 publications in Russian scientific journals we assess whether the poverty research in Russia satisfies the general criteria of a scientific publication and if such studies could provide reliable guidance to the Russian government as it maps out its anti-poverty policies. Our findings indicate that only a small portion of papers on poverty published in Russia in 1992-2006 follow the universally-recognized principles of the scientific method. The utility of policy advice based on such research is questionable. We also suggest certain steps that could, in our view, improve the quality of poverty research in Russia.
Labor Migration in Russia under Conditions of Integration in the Eurasian Economic Community
Authors: Ryazantsev S.
Published: March 2019

The article analyzes tendencies and consequences of labor migration in Russia and the Eurasian Economic Community Member-States; estimations of the number of official and illegal labor migrants are given. The problems which employers meet while trying to register labor migrants in Russia are considered. Issues of state regulation of labor migration in Eurasian Economic Community Member-States and Russia are outlined.
Cities with Over One Million Inhabitants on the Banking Map of Russia: Scales of Their Business Operations, Areas of Influence, and Network Ties
Authors: Nikitin L.
Published: March 2019

The article considers the state of banking business in the 12 largest Russian cities (after Moscow and St. Petersburg) in the beginning of 2006. The analysis is based on statistical data that depicts activity of resident as well as non-resident credit corporations in every city. Our research shows that there are two leading cities, namely Yekaterinburg and Kazan, with different strategies: "strong banks - open market" in the first case and "strong banks - partly closed market" in the second one. Other most successful banking centers (Rostov-on-Don, Novosibirsk, Chelyabinsk, Nizhny Novgorod and Samara) develop mainly in line with "the Yekaterinburg model", not that of Kazan.
Financial Crisis and Economics
Authors: Tambovtsev V.
Published: March 2019

Treating the money as "under-way-contracts", or "under-executed contracts", the author describes its properties as an economic good. It is shown that the money is a private good with valuable externalities, i.e. a merit good. From this fact the necessity of financial markets state regulation oriented at minimizing negative externalities by restriction of using the most risky contracts is drawn.
Residential Construction as a Factor of Demographic Dynamics
Authors: Belkin V. , Storozhenko V.
Published: March 2019

.
Economics in Russia. Studies in Intellectual History / V. Barnett, J. Zweynert (eds.)
Authors: Kalmychkova E.
Published: March 2019

.
Russia’s Market of Mergers and Acquisitions: Stages, Features and Prospects
Authors: Radygin A.
Published: March 2019

The article deals with key tendencies in the development of Russia’s market of mergers and acquisitions in the first decade of the 21st century. Quantitative parameters are analyzed by using available in the open access data bases for the years 2003-2008 taking into consideration new tendencies relating to 2008 financial crisis. An active role of the state played in the market of corporate control represents an important factor. Special attention is given to issues of development of Russia’s system of legal norms regulating the market of mergers and acquisitions.
What Kind of Firms Has Investment Programs in the Crisis Times and What Kind of Barriers Do They Face?
Authors: Yakovlev A.
Published: March 2019

The paper considers the behavior of Russian enterprises during the current crisis using the data of the latest survey of 1000 manufacturing firms. Special attention is paid to features of firms planning big investment for the next 12 months. The links between current investment plans, previous investment in 2005-2008 and other factors are shown. Finally we analyze the most important barriers for doing business from the point of view of investors.
The Global Energy Sector at the Crossroads: Which Way Should Russia Choose?
Authors: Grigoriev L. , Kryukov V.
Published: March 2019

The article studies the main problems of Russian oil and gas complex. The authors argue that global economic and financial crisis has already led not only to certain reduction in energy consumption, but to serious changes in the global energy sector. In the medium term we may expect globally more efforts in energy savings, climate change prevention, and deeper innovation impact. It may require a serious adaptation of Russian energy sector to new tendencies: some reconfiguration of demand for our export, certain limitation on financial resources and reconsidering its future role in the global balance. Long-term project approach should be applied to help Russian energy and manufacturing companies adjust to new economic environment. Institutional background in Russian energy sector should be adequate to address domestic problems and global competition.
Reflections on Applying Economic Theory in Social and Economic Research
Authors: Frolov I.
Published: March 2019

The article considers some methodological aspects of interaction between economic theory and applied economic research. It is shown that to use theoretical conceptions and principles directly in applied studies does not make sense since one always needs specific forms of knowledge as an intermediate level. The reason for relative autonomy of theoretical and applied economic knowledge is that a theoretician and an applied researcher face different types of entities in cognition and entertain different types of practice.
Ukraine: Divarication of Transformation
Authors: Grigoriev L. , Agibalov S. , Salikhov M.
Published: March 2019

Ukraine has the greatest economic potential among transition economies, but economic activities in the country highly depend on external markets, especially on the Russian one. The country has come a long way from the 1990-s, but the process of institutional transformation has been slow and met with conflicts under conditions of deep transitional crisis. There were two main directions of adaptation: competitive survival attempt of eastern industry and economic migration of western agrarian population. Divarication by the level of development and economic interests has impeded the formation of constructive development policy and led to elections rush, gas conflicts and short strategic planning horizons. Current painful economic crisis and coming elections will finalize transition period in Ukraine. The country will define its choice and ambitions: maintaining identity together with industrial and science potential and integration in the global development after the World Recession is over or lasting inner conflicts and integration as a labor force and territory provider.
J. Tobin's Monetary Dynamic Model and the Analysis of Russian Economy
Authors: Manevich V.
Published: March 2019

The paper considers the monetary dynamic model developed by J. Tobin, the leader of Keynesian economic thought in 1970-1990. Particularly, the author examines q-theory of investment proposed by Tobin which allows to expose the relationship between supply of monetary assets and investment in real capital. Application of various tools of monetary and financial policies is also considered in its different forms. The author aspires to use Tobin's model for the analysis of processes existing in the Russian economy and to test theoretical propositions and relationships elaborated by Tobin on Russian statistics.
Porfiriev B. N. Economics of Climate Changes
Authors: Bobilev S.
Published: March 2019

.
Strategy of Overcoming the Crisis in Russia
Authors: Evstigneeva L. , Evstigneev R.
Published: March 2019

The paper connects the current global economic crisis with ending the Long Kondratieff Wave and entering a new one. Neoliberal recipes have been already out of date for such transformation as well as for further functioning of the economy. According to the authors, neither the monetarist nor the Keynesian approaches can substitute them. The only alternative is the synergetic model of development, first of all building the market hierarchy instead of the traditional linear system of governance. The urgent necessity of comprehending strategical interaction between the synergetic transformation and the systemic integrity of economy is stressed upon in the article. All through the paper the crises in the USA and Russia are compared. In particular, it is suggested the crisis in our country might be deeper if one takes into account the difference between the depth of economic and social bottoms in both countries.
The Current Economic Crisis and Derivatives
Authors: Feldman A.
Published: March 2019

The article considers the problems of derivative instruments in the context of the current economic crisis. Theoretical grounds of these classic transactions are presented for modern capitalist reproduction. Some issues for the ongoing discussion on the nature of the crisis are formulated.
State Corporations: Can We Assess Corporate Governance?
Authors: Avdasheva S. , Simachev Yu.
Published: March 2019

The article examines state corporations as one of the options to organize the governance of state-own assets. The basic legal rules of state corporations contain imbalance between the complexity and diversity of goals and concentration of resources within state corporations, on the one hand, and weak capacity of control over their activity on the ground of formal rules, on the other hand. In these circumstances the direct control by the highest level of governmental authorities over the corporations activity is critical for achieving the state objectives. The important role of the principal and relatively low demand for corporate governance rules are common features of state corporations and modern Russian private companies.
The Role of Credit Default Swaps in the Global Crisis
Authors: Mazukabzova B.
Published: March 2019

.
Small Industry, Gimmicks and Moscow Statistics, or How the Small Russian Enterprise Came into the World (Russian Physiological Sketch, 1830-1840)
Authors: Golubitsky Yu.
Published: March 2019

The article considers business practices of Moscow small industry in the XIX century, basing upon physiological sketches of N. Polevoy and I. Kokorev, statistical data and the classification of professions are also presented. The author claims that the heroes of the analyzed sketches are the forefathers of Moscow small businesses and shows what a deep similarity their occupations and a way of life bear to the present-day routine existence of small enterprises.
Kosygin's Reforms: Unlearnt Lesson of History
Authors: Sobolev E.
Published: March 2019

.
Strategy and Tactics of Monetary Policy during the World Economic Crisis
Authors: Nekipelov A. , Golovnin M.
Published: March 2019

The paper analyzes the qualitative changes in monetary policy goals and instruments during the world economic crisis of 2007-2009 in industrial countries and Russia; it represents the authors view on Russian monetary policy goals and results on different stages of crisis development. On the basis of the analysis the authors conclude on the necessity of active exchange rate policy in Russia, while developing interest rate instruments, and implementation of some exchange restrictions to prevent crisis contagion in the future.
Relationship between Exchange Rate and Inflation in Russia
Authors: Kataranova M.
Published: March 2019

The article estimates the short- and medium-run exchange rate pass-through effect on consumer prices on the aggregate level and for individual groups of goods and services for the period from 2000 to 2008. Special attention is paid to the asymmetric exchange rate pass-through. It is shown that the improvement of certain macroeconomic indicators in recent years in Russia has not led to a reduction in pass-through effect on inflation as in other countries. The pass-through effect has a pronounced asymmetrical character, that is, consumer prices are more likely to respond to the depreciation of the domestic currency, than to its appreciation. The largest effect is observed for the food CPI while its costs constitute a significant part of household budget in Russia.
Beyond Market: Institutions of Governance in the Complex World (Nobel Memorial Prize in Economics 2009 - Oliver Williamson and Elinor Ostrom)
Authors: Kuzminov Ya. , Yudkevich M.
Published: March 2019

The article surveys the main lines of research conducted by Oliver Williamson and Elinor Ostrom - 2009 Nobel Prize winners in economics. Williamsons and Ostroms contribution to understanding the nature of institutions and choice over institutional options are discussed. The role their work played in evolution of modern institutional economic theory is analyzed in detail, as well as interconnections between Williamsons and Ostroms ideas and the most recent research developments in organization theory, behavioral economics and development studies.
The Problem of Forecasting Economic System: Theoretical Aspects
Authors: Burlachkov V.
Published: March 2019

.
Insurance Institution and the Stability of Financial Market
Authors: Nikul'shin D.
Published: March 2019

.
Ludwig von Mises "Human Action" as a Textbook in Economics
Authors: Huerta de Soto J.
Published: March 2019

The author indicates shortcomings of the modern economics textbooks and surveys the contribution to economics made by Ludwig von Mises, the main representative of the Austrian school in the second half of the 20th century, and the impact of his magnum opus "Human Action" on the development of economic theory. The author summarizes the methodology of teaching economics (on the basis of "Human Action") he used in the Complutense University of Madrid.
Does J. M. Keynes Help Study the Russian Economy? (On the Book by V. E. Manevich "The Keynesian Theory and the Russian Economy")
Authors: Makasheva N.
Published: March 2019

.
Hidden Reserves of W. Leontieff's "Input-Output" Method
Authors: Chalenko A.
Published: March 2019

.
On the Outcomes of VI Perm' Economic Forum "New Economy and Cultural Policy"
Authors: Tyurina A.
Published: March 2019

.
Central Bank as a Lender of Last Resort: New Issues of the Monetary Policy Theory
Authors: Andryushin S. , Kuznetsova V.
Published: March 2019

The article considers the problem of realization of central banks function of the lender of last resort in the situation of liquidity deficit. It shows that the classic definition of the last resort credits principles is not adequate to the tasks which central banks have to solve during liquidity crisis.
"Fat" Years: The Analysis of Trading Gains of the Russian Economy
Authors: Zamaraev B.
Published: March 2019

The article is devoted to the analysis of different approaches to estimating trading gains (or losses) from changes in the terms of trade for the Russian economy. It presents the calculation of trading gains (or losses) received by the Russian economy in 1999-2009.
World Automobile Market: before and after the Economic Crisis
Authors: Nureev R. , Kondratov D.
Published: March 2019

The article deals with the world automobile market before and after economic crisis. The paper analyzes features of its growth for the last 20 years and considers the structure of the world vehicle production and behavior of the largest manufacturers. The dynamics of Russian automobile market for the period of 2001-2009 is shown. The effect of the current economic crisis on the world vehicle market is discussed. A number of short- and long-term forecasts of development of the Russian automotive market from various sources are presented.
The Transition from Distributive Pension System to Accumulative Type: The Results and Efficiency Forecast
Authors: Dmitrieva O. , Petukhova N. , Ushakov D.
Published: March 2019

The paper presents comparative analysis of two models of pension system: accumulative and distributive (pay-as-you-go) ones based on Russian and world experience. It is shown that "the effect of dual burden" is formed within the transition period which lasts about 50 years and will reach its maximum in 22 years after the start of the reform. Under Russian conditions returns on pension capital fail to compensate for inflation and they are significantly lower than indexation of distributive pensions and wages growth rates. The model simulations have provided the following results: given the length of accumulation for 40 years; the longevity period - 19 years; employees-retirees ratio is going down, the accumulative pension system is likely to be more effective than the distributive one if returns on pension capital are not less than GDP growth rates and operational costs of the accumulative system are equal to zero. Otherwise the distributive pension system is more preferable.
Vertical Restrictions: Development of Theory, Antitrust Legislation and Enforcement
Authors: Avdasheva S. , Dzagurova N.
Published: March 2019

The article examines the interpretation of vertical restraints in Chicago, post-Chicago and New Institutional Economics approaches, as well as the reflection of these approaches in the application of antitrust laws. The main difference between neoclassical and new institutional analysis of vertical restraints is that the former compares the results of their use with market organization outcomes, and assesses mainly horizontal effects, while the latter focuses on the analysis of vertical effects, comparing the results of vertical restraints application with hierarchical organization. Accordingly, the evaluation of vertical restraints impact on competition differs radically. The approach of the New Institutional Theory of the firm seems fruitful for Russian markets.
Factors of Cyclical Vulnerability of Russian Economy
Authors: Smirnov S.
Published: March 2019

The paper studies the depth of GDPs fall in 25 worlds largest countries during the crisis of 2008-2009. It shows that the Russian economy was one of the most vulnerable to the crisis shock. The paper demonstrates that severe Russian instability is not due to "oil dependency" or high openness to world trade or capital flows. Cyclical weakness of the Russian economy is mainly rooted in low quality of its institutions, pre-crisis overheating (which was especially prominent in consumer demand) as well as the obsolete approach to inventories management.
The Public Procurement System in Russia: Toward a New Quality
Authors: Yakovlev A. , Alliluyeva O. , Kuznetsova I. , Shamrin A. , Yudkevich M. , Jakobson L.
Published: March 2019

This paper examines main principles that form the basis of the Law on placement of orders for public procurement (94-FL) in its current version. The authors outline a whole set of positive changes as well as negative developments following this legal practice. They pay special attention to discussion of problems and imperfections in the system singled out by real participants in the procurements. The authors formulate a range of challenges and tasks to be solved in a new version of the Law on public procurement, and offer an indispensable set of conditions to be allowed for solution of these tasks.
Factors and Resources: Identity, Difference, or Opposition?
Authors: Grebnev L.
Published: March 2019

The article tries to distinguish theoretical notions of factors and resources in economics and to consider paired connections between factors (labor, capital, and land) and resources (information, energy, matter). The author traces the logic of transition from scarcity of direct reproducible material goods via limitations of non-reproducible indirect goods (energy resources) to limiting of individuals creative opportunities as a factor of survival of humanity.
Art Market and Its Investment Capacity
Authors: Sarkisyants A.
Published: March 2019

The article investigates the world art market trends. It considers the main market indicators, comparative rate of return and the prospects of the market as well as the problems of art banking. Special attention is paid to the Russian art market.
Copenhagen Agreement - A New Paradigm of Climate Problem Solving
Authors: Agibalov S. , Kokorin A.
Published: March 2019

Copenhagen summit results could be called a failure. This is the failure of UN climate change policy management, but definitely the first step to a new order as well. The article reviews main characteristics of climate policy paradigm shifts. Russian interests in climate change policy and main threats are analyzed. Successful development and implementation of energy savings and energy efficiency policy are necessary and would sufficiently help solving the global climate change problem.
Economics of Conventions and Institutionalism: The Outcomes of Interaction
Authors: Bessy C. , Favereau O.
Published: March 2019

The article continues the analysis of economics of conventions presented in the first part of the paper (Voprosy economiki. 2010. No 7). In particular the authors pay attention to the problems of interdependence of macro- and microlevels of the economic system with respect to the formation of rules, conventions, and institutions. The examples of applied labor market research are provided which has been done in the spirit of the economics of conventions. Principles of institutional change and forms of interaction among rules, conventions, and institutions are also considered.
Global Instability and Russias Financial Sphere Reform
Authors: Ulyukaev A. , Kulikov M.
Published: March 2019

The article considers the current state of the world financial system. In particular it notes growing fiscal crisis and significant disbalance between monetary and budgetary policies in the leading developed countries. Such a situation can provoke strong movement of speculative capital in transition economies markets. This makes it necessary to accept a number of measures of financial and budgetary regulation in Russia. In the sphere of budgetary policy the authors suggest measures aimed at contracting public expenditures and their fixing in real terms; in the sphere of financial regulation - measures aimed at improving the quality of banking capital, increasing the level of liquidity and optimizing reserves.
The Great Chinese Convergence (On the New Book by E. P. Pivovarova "Socialism with Chinese Specifics")
Authors: Tsagolov G.
Published: March 2019

.
Russian Worker: Education, Profession, Qualification / Ed. by V. E. Gimpel'son, R. I. Kapelyushnikov
Authors: Agranovich M.
Published: March 2019

.
The Use of Cost-Benefit Analysis for Evaluating Efficiency of Public Investment Projects (The Case of Sochi-2014 Winter Olympic Games)
Authors: Pilipenko I.
Published: March 2019

The paper analyzes shortcomings of economic impact studies based mainly on input- output models that are often employed in Russia as well as abroad. Using studies about sport events in the USA and Olympic Games that took place during the last 30 years we reveal advantages of the cost-benefit analysis approach in obtaining unbiased assessments of public investments efficiency; the step-by-step method of cost-benefit analysis is presented in the paper as well. We employ the project of Sochi-2014 Winter Olympic and Paralympic Games in Russia to evaluate its efficiency using cost-benefit analysis for five accounts (areas of impact), namely government, households, environment, economic development, and social development, and calculate the net present value of the project taking into account its possible alternatives. In conclusion we suggest several policy directions that would enhance public investment efficiency within the Sochi-2014 Olympics.
Research University in Action: Experience from the "Russian Gazelles" Project
Authors: Yudanov A. , Andryushchenko A. , Govyadkina E. , Kopeikina D. , Medina E.
Published: March 2019

The purpose of this article is to present the methodology of the first Russian empiric research of high-growth firms (or Gazelles). Special attention is paid to the description of а research technology that suggests wide involvement of students in the process of researching (so called research university technology). We prove that projects requiring large amount of creative technical work could be implemented almost exclusively with the help of this technology. Only close cooperation of professors and a large number of students made it possible to analyze thousands of Russian firms and make detailed reports on hundreds of high-growth firms. This technology also allowed to estimate these companies’ impact on the Russian economy and study different competitive strategies and management techniques used by high-growth firms.
Economic Policy in 2010: In Search of Innovations
Authors: Mau V.
Published: March 2019

The article considers basic trends in economic policy in 2010. Certain revival of economic growth is noted, but it does not mean the end of the crisis. Directions of anti-recessionary policy are revealed. The most important problems of Russian economic policy in 2010 are characterized. The necessity of searching for a new model of growth with an accent on structural modernization is stressed as well as minimizing resource dependence.
Russian Statistics Today
Authors: Eliseeva I.
Published: March 2019

In this article the key role of Russian state statistics in describing transformational processes and in Russia’s modernization is emphasized. For the last 25 years the System of National Accounts has been constructed, macroeconomic indicators meeting international requirements are being calculated. But still the national statistics keeps the archaism of the past: introducing western experience reduces the opportunities for economic analysis. The author critically evaluates the experience of implementing the Russian national classifier of economic activities.
Consequences of the Crisis and Prospects of Russia´s Social and Economic Development
Authors: Kudrin A. , Sergienko O.
Published: March 2019

The article considers factors of crisis development of the Russian economy. It is stated that the stage of rapid recovery of the world economy after the crisis has come to an end. Still many countries face signs of overheating. In order to modernize the Russian economy needs better investment climate, developed innovation sector, less support of inefficient enterprises. It is important to improve the quality of state institutions, raise the efficiency of government spending, and limit the role of the state in the economy.
Rule of Law Economics: The Cost of Guarantors Services and Enforcement Errors
Authors: Shastitko A.
Published: March 2019

The article shows the importance of respecting the Rule of Law for organization of economic exchanges in terms of the New Institutional Economics (NIE). A brief overview of traditions in the study of the Rule of Law as a phenomenon is presented, including the approach to the study of this principle within the NIE. The costs of rights guarantying and redress as well as types I and II errors regarding rules enforcement are demonstrated. The illustration of types I and II errors problems within the context of the Rule of Law principle implementation in the area of Russian antimonopoly legislation is proposed.
Psychology of the Market and Economic Power (On Psychological Approach of Alan Greenspan to the Analysis of Economic Problems)
Authors: Olsevich Yu.
Published: March 2019

The article analyzes the psychological basis of the theory and economic policy of libertarianism, as contained in the book by A. Greenspan "The Age of Turbulence", clarifies the strengths and weaknesses of this doctrine that led to its discredit in 2008. It presents a new understanding of liberalization in 1980-1990s as a process of institutional transformation at the micro and meso levels, implemented by politicians and entrepreneurs with predatory and opportunistic mentality. That process caused, on the one hand, the acceleration of growth, on the other hand - the erosion of informal foundations of a market system. With psychology and ideology of libertarianism, it is impossible to perceive real macro risks generated at the micro level, which lead to a systemic crisis, and to develop measures to prevent it.
Trust as Viewed by Economists and Psychologists (On the Book by A. V. Belyanin and V. P. Zinchenko "Trust in Economy and Social Life")
Authors: Dobrokhotov R.
Published: March 2019

.
Prolegomena to the Last Modernization in Russia
Authors: Satarov G.
Published: March 2019

According to the opinion of the president of the INDEM foundation, the separation of functions between the power and civil society is the key condition of modernization. The power provides the wholeness and stability of the system, and civil society - adaptability to external shocks and internal problems. The article analyzes the ways by which institutions with new properties - evolution and transformation - emerge. Russia needs the last modernization, and it should adopt not the results but the ways to achieve them. Civil society must be the main driving force of this modernization.
Modern Banking System as a Source of Cyclic Development of Market Economy
Authors: Rakviashvili A.
Published: March 2019

The article conducts theoretical analysis of the monetary policy costs. On the basis of the authors interpretation of the Austrian theory of business cycle the article shows the destructive influence of the central banks intervention in the financial system on the economy. It also analyzes market agents response to the monetary policy.
The VAT and Reproduction Process
Authors: Orlov A.
Published: March 2019

The article estimates the negative influence of the VAT on economic development. The functional role of each element of production process is defined. On this base the three-sector model of social reproduction is worked out. The reason for increasing sums of the VAT compensation is considered. The conclusion about the necessity of replacing the VAT with other tax which does not demand compensation is made.
Antill N., Lee K. Company Valuation under IFRS. Interpreting and Forecasting Accounts Using International Financial Reporting Standards. 2nd ed.
Authors: Rutgaizer V.
Published: March 2019

.
Theory of Crises after Crisis: Technologies versus Institutions
Authors: Frolov D.
Published: March 2019

The article is devoted to the methodological contradictions of modern theories of crises and economic development. The critical analysis is carried out and the inconsistency of technological conceptions of global crisis is revealed. The key role of institutions in progress of technologies is proved. The necessity of synthesis of technological and institutional paradigms for the evolutionary economic theory is given reason. The author discusses positive features of the increase in transaction costs in a phase of post-crisis restoration of economy.
Knowledge and the Theory of Institutional Change
Authors: Eggertsson T.
Published: March 2019

Modern theory identifies several sources of economic growth, such as capital accumulation, new technologies, secure property rights and contracts, and absence of rent seeking. This paper introduces new social technologies as yet another source of growth and emphasizes our incomplete knowledge of social system. It hinders the building of new institutions. The author introduces a framework for analyzing institutional policy and uses the case of modern biotechnologies to explain how uncertainty about social technologies, persuasion, and competing beliefs influence the evolution of property rights.
Cash Cult in Russia: How to Debunk It and What Will Be the Consequences?
Authors: Mamonov M. , Pestova A. , Solntsev O.
Published: March 2019

Since 2010 the issues of development of retail payment systems in Russia have been discussed by the general public. But there is still a lack of assessments of possible macroeconomic effects. In our research we offer systematization of positive effects generated by broad implementation of retail payment systems and analyze the key tendencies in substitution of cash payments by non-cash payment instruments. We compare both potential of monetary policy and specific technical measures (growth in use of payment infrastructure, etc.) in stimulating households demand for retail payment systems in Russia. Using econometric analysis we conclude that technical measures are more effective. Besides, they are associated with lower macroeconomic risks in middle-term perspective.
Paradoxical Trends in Russias Agrarian Economy
Authors: Golubev A.
Published: March 2019

The article shows the opposite development trends of the agrarian economy in Russia, divided in paradoxical pairs. Among them: reduced reproductive capacity of agriculture and simultaneous increase of agricultural production efficiency; deterioration of the material and technical and natural base, combined with increase in agricultural production; degradation of the Russian countryside and rural social development, as well as several others. The reasons for these paradoxical phenomena are analyzed.
What Kind of Economic Policy Do We Need (On the Book by E. Reinert How Rich Countries Got Rich... and Why Poor Countries Stay Poor)
Authors: Klinov V.
Published: March 2019

This is the review of the acclaimed monograph by the famous Norwegian economist Erik Reinert. It is shown that interest in the book is caused by a vivid opposition to the traditional approach of the classical economic theory of lessons of the real history of economic policy. These lessons show that rich countries have become rich due to a combination of targeted state policy, protectionism and strategic investment, rather than free trade, as the "classic" teaches. It was such a policy that guaranteed successful economic development of countries, beginning with the Renaissance and ending with the modern "tigers" of Southeast Asia.
International Coordination of Financial and Economic Policy: Gustav Cassels Theoretical Contribution
Authors: Kadochnikov D.
Published: March 2019

Gustav Cassel (1866-1945) developed a number of original ideas in the field of international finance, which may prove to be relevant today. These ideas, however, were largely forgotten or remained unnoticed in the second half of the 20th century. To a large extent this is due to the fact that Cassels theoretical framework was fragmented, while one of the key elements of his argumentation - the purchasing power parity concept - was taken out of the context and misinterpreted. The papers aim is to restore and demonstrate Cassels vision of the goals and significance of the international coordination of financial and economic policy as an inherently normative perspective.
Factor Analysis of Evolution of Russian Energy Efficiency: Methodology and Outcomes
Authors: Bashmakov I. , Myshak A.
Published: March 2019

Пилотная эксплуатация системы учета повышения энергоэффективности и экономии энергии в России показала, что: 1) ее создание возможно даже на базе не самой совершенной статистики; 2) ее использование дает нетривиальные результаты; 3) она требует дальнейшего развития. Снижение энергоемкости ВВП России в 2000—2010 гг. на 80% определялось структурными сдвигами в экономике. При замедлении экономического роста вклад структурных факторов будет снижаться, поэтому для решения задачи снижения энергоемкости ВВП на 40% к 2020 г. федеральная политика должна быть нацелена на ускоренное внедрение новых энергоэффективных технологий, сокращение технологического разрыва с ведущими странами для повышения конкурентоспособности российской экономики и обеспечения ее экономической и энергетической безопасности.
Engineers or Lawyers? Institutions and Demand for Higher Education
Authors: Natkhov T. , Polishchuk L.
Published: March 2019

Law and public administration schools in Russia vastly exceed in their popularity sciences and engineering. We relate such lopsided demand for higher education to the quality of institutions setting “rules of the game” in economy and society. Cross-country and Russian interregional data indicate the quality of institutions (rule of law, protection of property rights etc.) is negatively associated with the demand for education in law, and positively — in sciences and engineering. More gifted younger people are particularly sensitive to the quality of institutions in choosing their fields of study, and such selection is an important transmission channel between institutions and economic growth.
Economic laws of history
Authors: Nefedov S.
Published: March 2019

In the second half of the XX century the neo-Malthusian theory became the basis for the practical politics of many developing countries. Thus, governments have recognized that Malthusian laws are a reality of the traditional society, that they are the laws of history. The neo-Malthusian school exists in modern historiography, which studies the effect of Malthusian laws in the past. Historians-Malthusians argue that the historical process consists of demographic cycles — repeated periods of growth, stagnation and crisis. The article reviews the works of historians of the neo-Malthusian school.
Institutional foundations for the Organization of the real Economy
Authors: Deryabina M.
Published: March 2019

The article studies theoretical and methodological foundations for the organization of the real economy. It analyzes the forms of market coordination in the real sector — the price mechanism and the hierarchy. The article studies the extent to which the organizational institutions of an advanced market economy are comparable to the organization of the real sector of the Russian economy formed during the last two decades. The most important aspects of the research are the factors of the evolution of the major element of the Russian economy under the market transformation, as well as specific characteristics of corporate governance.
The Shadow Economy in the Framework of “Razdatok”
Authors: Barsukova S.
Published: March 2019

The paper elaborates on the theory of “razdatok” economy that covers the institutional characteristics and historical forms of razdatok and was developed in O. Bessonova’s article (Voprosy Ekonomiki. 2012. No 8). The author analyzes the shadow economy in Russia. The theory of razdatok as a specific institutional matrix of Russia is a theoretical frame of this analysis. Razdatok‑type economy has a cyclical nature with four phases — growth, stable existence, crisis and transformation. The model of razdatok economy is extremely important for understanding the essence of the shadow economy and its functional specificity on different phases of a cycle.
Economic Effects of 2004-2009 Tax Reforms: Retrospective Analysis
Authors: Penukhina E. , Belousov D. , Mikhailenko K.
Published: March 2019

The article determines, describes and analyzes phases of tax reforms in Russia. We estimate macroeconomic and fiscal effects of various tax policies held during the second and third phases of tax reforms. The necessity of providing a balanced budget system, as well as complex assessment of effects of tax policy changes for the development of the Russian economy is noted.
The Golden Age in Russian Refining: Outcomes and Prospects
Authors: Astashov Yu.
Published: March 2019

The article considers the state of things in Russian oil refining. The options for its modernization are analyzed, as well as the effects of tax reforms in the sector. It is noted that current tax reforms mostly touch upon refining, not oil extraction, so one can expect further reforms in the sector and their impact on the industry.
Microanalysis of the Russia's Pension System
Authors: Gurvich E. , Sonina Yu.
Published: March 2019

The analysis is based on the Russia Longitudinal Monitoring Survey (RLMS). Individual replacement rates are estimated for the first time. Russian pension system proves to be oriented rather on social policy objectives than on smoothing consumption over the life cycle. The efficiency of pension system happens to be relatively low - for instance, over 1/3 of base pensions is paid to people with income above median level. We give proofs that social policy for working and non-working pensioners should not be the same, as they have drastic differences in the income level. Estimates are given for possible economy of pension system financing if benefits are provided on a more focused basis. A new approach to the analysis of incentives and impediments for raising retirement age is suggested. Its application demonstrates that substantial part of pensioners is willing to work further in exchange for material stimulus. Most likely they would support higher retirement age if they realized that this will result in higher pension benefits.
Demand and Supply of Skilled Labor in Russia: Who Ran Faster? Part I
Authors: Kapeliushnikov R.
Published: March 2019

The paper examines the dynamics in demand and supply of skilled labor in the Russian economy over the transition period of 1990–2000s. It shows that despite a huge inflow of workers with tertiary education demand for such workers grew in the Russian labor market even faster. This explains why unemployment for workers with high educational attainment remained low; why returns to education continued to be high; why a proportion of college graduates who occupied low-skilled jobs decreased rather than increased. However in the next decades the correlation between demand and supply might radically change so that the Russian economy could face massive oversupply of highly educated workforce.
Sovereign Wealth Funds Role in Russia
Authors: Lebedinskaya E.
Published: March 2019

Sovereign wealth funds exist in Russia for eight years. The Stabilization Fund was established in 2004 and later divided into the Reserve Fund and the National Wealth Fund. During this period the funds assets and functions changed significantly. The paper compares the actual uses of the funds with the stated goals of their creation. We conclude that the original stabilization function was successfully implemented both by the Stabilization Fund and the Reserve Fund though the mechanism of fiscal stabilization was broadened in both cases. The National Wealth Fund, however, did not accumulate long-term savings to support the pension system as was originally intended.
Long-term Forecasting and Strategy of Development (On the Monograph by IWEIR RAS "Strategic Global Forecast 2030")
Authors: Klinov V.
Published: March 2019

.
Tsvetkov V. A. Corporate Business: Theory and Practice
Authors: Milner B.
Published: March 2019

.
The Map Is Not the Territory: An Essay on the State of Economics
Authors: Kay J.
Published: March 2019

The article claims that modern economics is in the state of crisis, because the major macroeconomic theories are in fact based on the concept of rational expectations, and the main method of research is considered to be the model-building with models as "artificial worlds". Therefore it is supposed that the agents expectations are consistent with a theoretical model. Such constructs are often based on aprioristic assumptions and only after the model is built are they confronted with reality. The author defends an alternative view of science which is methodologically more pluralist and sees deductive model-building in need of being supplemented by other methods of inquiry suggesting that economic science abandons claims for universality of its conclusions.
Residential Construction as a Locomotive of Social and Economic Development of the Country
Authors: Aganbegyan A.
Published: March 2019

The article assesses the role of residential construction in Russia's social development, notes insufficient provision of population with comfort accommodation in comparison with a number of developed and developing countries. The data on the availability of housing in Russia and other countries are presented. The article shows that acceleration of residential construction can lead to higher rates of economic growth in Russia. The conditions and factors of future residential construction development are considered, the accent should be made on construction of low-rise buildings. The necessity of simultaneous reforming of the communal sphere, its transferring on the market path is stressed. The assessments of required investments in the field are presented.
Trade in the CIS Region: Conditions for Further Production Cooperation
Authors: Gurova I. , Efremova M.
Published: March 2019

The article deals with the trade in the CIS region and in the Customs Union of Belarus, Kazakhstan and Russia. The methodology of the analysis is based on the UN Classification by Broad Economic Categories (1971) and B. Balassa model for detecting competitive advantages. The authors conclude that the CIS countries are interested in further integration in the post-Soviet area. The regional CIS market plays a greater role for semi-manufactured and final goods producers from the former Soviet republics. But the dynamics of the whole export shows that the CIS economies get more and more oriented on external markets in the sphere of primary goods.
On the Prophets in the Fatherland (To P. A. Stolypin's 150th Anniversary)
Authors: Tulokhonov A.
Published: March 2019

The article gives an assessment of P. A. Stolypin's political, economic and social reforms, their significance for the contemporary development of Russia, including the eastern territories. The author believes that the basic principles of the reform system proposed by Stolypin are relevant today and can become fundamental for improving the country's competitiveness.
Russia’s fiscal stimulus and fiscal sustainability
Authors: Akindinova N. , Kondrashov N. , Cherniavsky A.
Published: March 2019

This study examines the impact of public expenditure on economic growth in Russia. Fiscal multipliers for various items of government spending are calculated by means of our macroeconomic model of the Russian economy. Resources for fiscal stimulus and optimization are analyzed. In this study we assess Russia’s fiscal sustainability in conditions of various levels of oil prices. We conclude that fiscal stimulus is ineffective in Russia, while fiscal sustainability in conditions of a sharp drop in oil prices is relatively low.
Scientometric Parameters of Russian Economic Science:General State and the Evaluation of Thesis boards
Authors: Kurakova N. , Tsvetkova L. , Eremchenko O.
Published: March 2019

The paper analyses the publications of Russian authors in various fields of economics indexed in Web of Science and Russian Science Citation Index. The authors claim that the scientometric parameters are only in a limited way applicable in evaluating the performance of expert and thesis boards in economics in Russia. The authors also put forward the approaches in order to improve Russia’s positions in the international citations indexes in economics.