bluuebunny/crossref_metadata_2025 huggingface dataset:
Low-Carbon Russia: Prospects after the Crisis
Authors: Bashmakov I.
Published: March 2019

On the eve of the worldwide negotiations of a new climate agreement in December 2009 in Copenhagen it is important to clearly understand what Russia can do to mitigate energy-related greenhouse gas emissions in the medium (until 2020) and in the long term (until 2050). The paper investigates this issue using modeling tools and scenario approach. It concludes that transition to the "Low-Carbon Russia" scenarios must be accomplished in 2020—2030 or sooner, not only to mitigate emissions, but to block potential energy shortages and its costliness which can hinder economic growth.
The Swap as a Reflection of Social and Economic Lameness of Agrarian Policy
Authors: Buzdalov I.
Published: March 2019

The article considers the necessity of forming normal economic and social conditions for sustainable development of agriculture and vital activity of Russian peasantry. The harmful consequences of the so called swap, i.e. unjustified fiscal confiscation of the income produced in the sector in favor of the state and other subjects, are analyzed. In the framework of the concept of agrarian protectionism and in order to provide agrarian development priority the measures aimed at overcoming these consequences and corresponding changes in the agrarian and general state economic policy are suggested.
Post-crisis Development of Russian agriculture
Authors: Golubev A.
Published: March 2019

Possible scenarios of post-crisis development of Russian agriculture: inertial, intensive-technocratic, natural-innovative, are examined at the article. Dull imitation of the west type of agricultural production development, aimed at large-scale use of chemicals and other factors of intensification, is shown to be inappropriate. The possibility of native agriculture keeping based on technologies close to natural ways of foodstuffs` production is analyzed. The notion of rent income from products manufacture in natural conditions is introduced.
The Vector of Russia's External Economic Policy
Authors: Zevin L.
Published: March 2019

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Klinova M. V. The State and Private Capital in Search of Pragmatic Interaction
Authors: Radygin A.
Published: March 2019

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The System of Technical Regulation in Russia: The Possible and Expected Impact on Competition
Authors: Kryuchkova P.
Published: March 2019

The article considers the development of the technical regulation reform in Russian Federation and the potential impact of technical regulation on competition and competitiveness of industries and the Russian economy as a whole. It concludes that the reform has been actually reduced, and it is demanded for in the framework of the modernization scenario of Russia’s economy development.
Demand for Certification: Theory and Evidence on?Modernization of Russian Enterprises
Authors: Avdasheva S.
Published: March 2019

The article tries to explain the demand for certification according to international standards in Russian industries. Under asymmetric information about the quality of goods certification by a credible agency can serve as a quality signal that increases demand for the given good and the profit of the supplier. Incentives to certificate products positively depend on the market share of suppliers with certified products. Evidence on modernization of Russian enterprises supports this view. Increase of demand for certification is accelerating, mostly by the successful enterprises involved in deeper restructuring.
Financial Architecture of the Post-crisis World: Efficiency and/or Justice?
Authors: Danilov Yu. , Sednev V. , Shipova E.
Published: March 2019

The research comprised two areas: expert survey (we interviewed 223 experts from 51 countries) and in-depth analysis of the official documents related to the decisions and discussions of the G20 process. The authors put forward their own approaches to solving problems that strongly influence interests of the developing world. The current economic meltdown in our opinion can lead to a more destructive civilization crisis in the medium term. The study focuses on origins and consequences of this crisis. The problems of future global currency system formation have also been considered.
Physicist’s Point of View on the Way to Equilibrium and Efficiency of Stock Market
Authors: Leonidov A.
Published: March 2019

The article provides a new method for testing the efficient market hypothesis in its weak form. A special model of stock market is built to estimate correlation functions. The main result is that the dynamics of share prices is close to the random walk but could be better described by a more sophisticated law of distribution. The market processes new information with a certain lag but its reaction is fast enough. Share prices reflect exogenous shocks much quicker than endogenous ones.
Contemporary Principles of Heterodox Political Economy
Authors: O’Hara Ph.
Published: March 2019

In this analytical review the author describes the main trends in the modern heterodox political economy as an alternative to mainstream economics. Historical specificity as well as the contradictory and uneven character of economic development are examined in detail. The author also discusses problems of class, gender and ethnic discrimination and their influence on economic growth. It is shown that there are tendencies to convergence of different theoretical perspectives and schools, common themes, topics of research and conceptual apparatus are being formed. The forces of integration and differentiation help establish new ideas and receive interesting scientific results in such fields as development economics, macroeconomics and international economics.
Global Financial Crisis: A Year Later
Authors: Ershov M.
Published: March 2019

The current crisis has shown a number of weak segments in the world and national economies. In response to large-scale challenges the regulators had to significantly revise their approaches (as is the case with the US Fed which authority has been questioned and its activity may be subject to possible reforming). Previous risks remain, however, and new risks appear. Will the present stabilization last long, how dangerous are new threats and what are the ways to reduce them - these questions remain very асute today.
Crisis and The Tasks of State Authorities
Authors: Zubov V.
Published: March 2019

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Institutionalism: Theory, Decision-making Basis, Method of Criticism
Authors: Moskovsky A.
Published: March 2019

The author analyzes the state of institutional economics in contemporary Russia. It is characterized by arbitrary confusion of the ideas of «old», «new» and «mathematical» versions of institutionalism which results in logical inconsistency and even eclectics to be observed in the literature. The new and mathematical versions of institutionalism are shown to be based on legal, political and mathematical determinism tightly connected with the so-called «economic approach» (G. Becker). The main attention is paid to the discussion of theoretical and practical potential of the contemporary classical («old») institutionalism. The author focuses on its philosophical grounds and its technological imperative, the institution of science, the method of criticism, the opportunity of using classical institutionalist ideas as the ideology of economic reforms in Russia.
World Economic Crisis as a Process of Substitution of Technological Modes
Authors: Glaziev S.
Published: March 2019

The article analyzes fundamental reasons for the world economic crisis in the light of global technological shifts. It proves that it is caused by the substitution of technological modes. It is shown that sharp increase and slump in stock indices and prices for energy resources are typical of the process of technological substitution which occurs regularly according to the rhythm of long-wave fluctuations of the world economic activity. The article rationalizes a package of anti-crisis measures aimed at stimulating the new technological mode. Its structure and role of the locomotive factor of the new long wave of economic growth are revealed.
Reproduction and Monetary Sphere (On the Paper by A. Navoi "On the Role and Place of the Central Bank Money Emission…")
Authors: Burlachkov V.
Published: March 2019

The article discusses the interconnections of real sector and monetary sphere. The structure of modern macroeconomic processes is analyzed, and its elements such as production, informational and financial processes are characterized. The main problems of the theory of value are stressed. It is indicated that intensification of financial process has led to forming debt economy which is characterized by soft credit constraints. They define soft demand constraints in the economy and, as a consequence, significant indebtedness of households and increasing financial risks. Money is not neutral in relation to processes in real sector and is able to accelerate them.
Life and Death of Russian Socialism  (On the New Series of Books by G. Kh. Popov)
Authors: Tsagolov G.
Published: March 2019

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Economic Theory of Marxism and Modern Times  (Proceedings of the Scientific and Theoretical Seminar at the IE RAS)
Authors: Voeikov M.
Published: March 2019

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Evaluation of Anti-crisis Measures Supporting the Real Sector of the Russian Economy (The Report of SU-HSE and IAC)
Authors: Higher School of Economics SU-HSE , Interdepartmental Analytical Center IAC
Published: March 2019

This paper reflects the main results of the joint project conducted by the State University-Higher School of Economics and the Interdepartmental Analytical Center in order to develop and approbate the methodology for assessing anti-crisis measures of the Russian government. The report is based upon the analysis of about 100 separate anti-crisis measures aimed for the support of the real sector of the Russian economy that were initiated during the period of October 2008 - March 2009. The analysis reveals major beneficiaries of state support in terms of industries, firms size categories. The possible impact of the measures is being evaluated, both at the crisis stage and at the stage of the economy recovery. The report also describes the main risks and threats the government will have to deal with at the implementation stage as well as the contradictory consequences of the anti-crisis economic policy.
Independent Director in State Participating Companies: Cassandra or Ariadna?
Authors: Shastitko A. , Avdasheva S.
Published: March 2019

The article describes the grounds and conditions of independent directors incorporation in the boards of directors of state participating companies. The results of independent directors elections in their boards are analyzed. A number of variants of independent directors de-facto status are shown. The conditions for realizing advantages of independent directors involvement as compared with public servants from the perspective of developing the effective system of corporate governance are identified.
The Russian Corporation: Models of Behavior during the Crisis
Authors: Yakovlev A. , Simachev Yu. , Danilov Yu.
Published: March 2019

The paper considers behavior patterns of Russian firms before and during the financial crisis of 2008-2009. Three main groups of actors at the firm level in the Russian economy are defined: large politically connected companies; mid-size firms that have grown in 2000s on the administrative support; successful mid-size firms which have expanded using market factors. Explanation for the too risky financial policy and decrease in efficiency before the crisis is provided in case of large companies. Forms of opportunistic behavior of managers and owners of Russian companies during the crisis are analyzed. Some policy implications (with focus on the support of successful mid-size firms that are driven by market factors) are proposed.
Germany's Higher School Problems
Authors: Khodov L.
Published: March 2019

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Minimizing Missed Opportunities: Modeling Relationships between the State and Business in Russia
Authors: Oleynik A.
Published: March 2019

Power involves a number of models of choice: maximizing, satisficing, coercion, and minimizing missed opportunities. The latter is explored in detail and linked to a particular type of power, domination by virtue of a constellation of interests. It is shown that domination by virtue of a constellation of interests calls for justification through references to a common good, i.e. a rent to be shared between Principal and Agent. Two sources of sub-optimal outcomes are compared: individual decision-making and interactions. Interactions organized in the form of power relationships lead to sub-optimal outcomes for at least one side, Agent. Some empirical evidence from Russia is provided for illustrative purposes.
How to Increase Efficiency of Economic Policy: Empirical Analysis of Government Institutions Role
Authors: Chepel S.
Published: March 2019

The paper analyzes the hypothesis of statistical significance of the institutional factor in the process of increasing the efficiency of economic policy in developing countries. It shows that expansion of domestic credits to private sector (aimed at increasing private investment activity including FDI) may bring about contrary results if corruption in the country is higher than the threshold level. The efficiency of anti-inflation policy in many respects depends on the quality of banking system: the higher it is the lower is the impact of money supply on inflation and vice versa. The main reserves of increasing efficiency of anti-inflation policy in the CIS countries are strengthening of banking potential and energy saving. The priority of institutions development measures as compared to selective measures of government support of separate sectors of economy is justified.
Concatenation of Circumstances or Historical Regularity?
Authors: Popov V.
Published: March 2019

Why have many transition economies succeeded by pursuing policies which are so different from the radical economic liberalization (shock therapy) that is normally credited for the economic success of countries of Central Europe? First, optimal policies are context dependent, they are specific for each stage of development and what worked in Slovenia cannot be expected to work in Mongolia. Second, even for the countries with the same level of development reforms that are necessary to stimulate growth are different; they depend on the previous history and on the path chosen. The reduction of government expenditure as a share of GDP did not undermine significantly the institutional capacity of the state in China, but in Russia and other CIS countries it turned out to be ruinous. The art of the policymaker is to create markets without causing government failure, as happened in many CIS countries.
Classical Theory of Value: Modern Sense of Unsolved Problems
Authors: Bodrikov M.
Published: March 2019

The article is devoted to the problem of heterogeneity of models of the classical value theory. Logical consistency of the production costs principle in the context of the circular analysis of commodity economy is proved. The logic of the classical theory of commodity economy is reconstructed and deficiencies of the methods of solving a price problem offered by classics are considered.
Naryshkin S. E. Attracting Foreign Investments. Economic Strategy and Development of Russia's Regions
Authors: Maevsky V.
Published: March 2019

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Libertarian Conception of the State: Logic and Morality
Authors: Rakviashvili A.
Published: March 2019

The article overviews theoretical specifications of the libertarian concept of the minimal state. Based on the systematization of the key theoretical works, the analysis of economic state invasion limits is conducted, and the sufficiency and necessity of the minimal state limited only by the defense functions are argued. At the same time, the arguments offered by the author indicate the impossibility of satisfactory grounding of state functions enlargement over the minimum level.
The Imperative of Convergent Economy (On the New Book by G. N. Tsagolov)
Authors: Menshikov S.
Published: March 2019

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Measuring Human Capital: Paradoxes and Contradictions
Authors: Soboleva I.
Published: March 2019

The article considers the evolution of the main approaches to the measurement of human capital. It shows that each approach disregards some important aspects of the phenomenon which leads to the biases in the results of statistical research. The major inconsistencies arise in Russia and other transition economies, whereas for the countries that have a developed competitive labor market the problems are less acute. Methodological dead ends and the impossibility of the value-based computation of human capital stock require a shift in perspective — from the direct measurement to the analysis of human capital which emphasizes tendencies and interrelations.
Russian Economy against a Background of Global Crisis: Current Trends and Prospects of Development
Authors: Akindinova N. , Mironov V. , Petronevich M. , Pukhov S. , Smirnov S.
Published: March 2019

Overall overview of current economic situation in Russia and in the world and possible scenarios of future economic development are presented in the paper. The analysis of GDP slowdown factors shows that the fall in excess inventories, accumulated in 2007—2008, accounts for more than 2/3 of GDP reduction in Russia. It is noted that instruments used by the government are weakening each other and do not allow to achieve internal and external equilibrium simultaneously in the future. Two possible anti-crisis economic policies (which are also behind the differences in two scenarios) are considered — countercyclical and anti inflation ones, their advantages and drawbacks are examined. The conclusion is made that countercyclical policy is now more favorable, which seems also to be a government choice. Nevertheless, anti-inflation policy directed to shrink monopolies power is necessary in both scenarios.
Egor Gaidar: Traits to the Future Biography
Authors: May V. , Rogov K.
Published: March 2019

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We Have Lagged Behind. Forever if We Don't Mind? (On the Book by A. M. Libman "Modern Research in Political Economics")
Authors: Grebnev L.
Published: March 2019

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Exchange Rate Regimes and Economic Stability
Authors: Smirnov S.
Published: March 2019

The Bank of Russia intends to introduce inflation targeting policy and exchange rate free floating regime in three years. Exogenous shocks absorption which stabilizes the real sector of economy is usually considered to be one of the advantages of free floating exchange rate policy. However, our research based on the analysis of 25 world largest economies exchange rates and industrial production during the crisis of 2008-2009 does not confirm this hypothesis. The article also analyzes additional risks associated with free floating exchange rate regime in Russia and presents some arguments in favor of managed floating exchange rate regime.
Ruble Exchange Rate and the Structure of Russian Economy
Authors: Smirnov S. , Balashova E. , Posvyanskaya L.
Published: March 2019

The Banks of Russia exchange rate policy influences strongly the competitiveness of national producers at macrolevel. However, the structural consequences of this policy are not thoroughly studied. In particular, it is still almost unknown, which industries and commodities have high, medium or low sensitivity to exchange rate fluctuations. The article considers different approaches to the problem, all based on detailed statistical data. The conclusion is made that any exchange rate policy is an inappropriate tool to influence the structure of Russian economy.
The Psychology of Financial Markets: Keynes, Minsky and Emotional Finance
Authors: Dow S.
Published: March 2019

This paper is concerned with drawing on both psychology and economics in order to amplify the psychological content of Minskys account of the behaviour which leads up to financial turmoil, and market responses to it. In exploring recent developments in behavioural finance, the author finds that a crucial element is given inadequate attention: the motivation for action under uncertainty. Yet earlier traditions in economic thought (notably the Scottish Enlightenment thought) incorporated the role of psychological motivation under uncertainty. One can see this emerging again in Keyness analysis of financial behaviour, and again in Minskys financial instability hypothesis. The methodological features of their economic analysis are explored which allow this crucial psychological input to be present, focusing in particular on the role and meaning of rationality.
Political Economy in a Broad Sense: Elements of Institutionalism and Utopianism
Authors: Gloveli G.
Published: March 2019

The paper deals with A. Bogdanovs and I. Stepanovs experience of elaborating political economy in a broad sense. The author focuses on their claim that economic formations develop historically in a non-linear way. Similarities and differences between Bogdanovs organisation theory and T. Veblens institutionalism in the analysis of capitalist society are shown. Historical and utopian roots of Bogdanovs socialist economy ideas are considered.
The Break-up of the Village Community in Russia
Authors: Chuprov A.
Published: March 2019

The article by A. A. Chuprov, a well-known scientist-statistician of the beginning of the last century, is a modern translation of the text published in the Economic Journal in 1912. Today it is interesting not only as a vivid example of objective analysis of the history of the Russian Commune during the period of Stolypin agrarian reform. This paper is important in order to understand the nature of socio-economic processes taking place in the agrarian sphere of contemporary Russia, those historically conditioned, mental problems and difficulties that institutional transformations in the rural area face.
On the Unique Geopolitical Experience (On the Book by B. Irishev "The Way to Europe")
Authors: Shmelev N.
Published: March 2019

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Moscow Labor Market: Problems and Prospects
Authors: Neterebsky O.
Published: March 2019

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Convergence in Macroeconomics: Elements of the New Synthesis
Authors: Woodford M.
Published: March 2019

While macroeconomics is often thought of as a deeply divided field, with less of a shared core and correspondingly less cumulative progress than in other areas of economics, in fact, there are fewer fundamental disagreements among macroeconomists now than in past decades. This is due to important progress in resolving seemingly intractable debates. In this paper, the author reviews some of those debates and outlines important elements of the new synthesis in macroeconomic theory. The author discusses the extent to which new developments in theory and research methods are already affecting macroeconomic analysis in policy institutions.
Basic Human Values of Russians and Other Europeans (The Results of 2008 Surveys)
Authors: Magun V. , Rudnev M.
Published: March 2019

The authors rely mainly on the data from the fourth round of the European Social Survey held in 2008 in their comparison between the Russian basic values and the values of the 31 other European countries as measured by Schwartz Portrait Values Questionnaire. The authors start from comparing country averages. Then they compare Russia with the other countries taking into account internal country value diversity. And finally they refine cross-country value comparisons taking the advantage of the multiple regression analysis. As revealed from the study there are important value barriers to the Russian economy and society progress and well targeted cultural policy is needed to promote necessary value changes.
New Risks of the Post-crisis World
Authors: Ershov M.
Published: March 2019

Despite the signs of recovery of the world economy the markets feel uncertain. The search for "risk-averse" investments stimulates continuous growth of the price of gold, silver, swiss frank. The second phase of quantitative easing in the US implies massive creation of dollars that reinforces emergence of excess liquidity and associated risks in the world financial system.
Structural Blossom of Financial Markets
Authors: Suetin A.
Published: March 2019

One of the attractive features of financial assets is linked to their ability to increase or preserve their buyers wealth. Soaring prices provoke investors euphoria, their decline - paralysis. In 2010 capital in the USA has moved from the stock market to the bonds market that directly reflects low inflation expectations and current low interest rates. High demand on government securities is due to new economic growth deceleration expectations.
Identification of Euro-Dollar Rate Dynamics Regimes: The Approach Based on Reconstructing Nonlinear Dynamic Systems
Authors: Kamrotov M.
Published: March 2019

This paper proposes an empirical approach to euro-dollar rate modeling based on continuous-time dynamic systems. It is shown that the dynamics of the exchange rate and key policy rates of Federal Reserve System and European Central Bank (which are supposed to be the main drivers of the euro-dollar rate) has displayed several regimes in the past, and these regimes can be successfully modeled in terms of linear differential equations. The Grobman-Hartman theorem is used to reconstruct the fundamental nonlinear law of motion of the exchange rate. Linear systems are considered as approximations of a nonlinear system in the neighborhood of its steady states. This approach allows reveal all possible regimes of exchange rate dynamics.
The Modern Russian Institutionalism: Further Discussion
Authors: Popov E. , Sergeev A.
Published: March 2019

In the article the positive estimation of the paper on institutional methodology which was published in the 3rd issue of the journal in 2009 is given. In the discussion with A. Moskovsky the authors show that the term "institution" may have various definitions and argue in favour of the one proposed by D. North ("institutions as rules of the game"). The new institutional economic theory has a bigger potential for economic modeling than traditional institutionalism. The usefulness of "mathematical" institutionalism has been determined by the Russian researchers' elaborations of the institutional traps theory, institutional systems creation theory, knowledge economy theory and system-integrated theory of the firm.
Modern Kyrgyzstan: One or Multiple Lines of Development?
Authors: Sokolov V. , Sarygulov A.
Published: March 2019

The article represents the main stages and ongoing results of economic reforms in the Republic of Kyrgyzstan in 1990-2008. Basic directions of reforms in agriculture, industry and financial sector, establishment of market-oriented democratic institutions are analyzed. Issues of sustainability of reforms, transformation of social structure and possible trajectory of future development of the country are discussed.
Peasantry and Power: Responsibility and Interests
Authors: Korobeinikov M.
Published: March 2019

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Does the Budget-2010 Promote Modernization of the Russian Economy?
Authors: Senchagov V.
Published: March 2019

The article assesses the basic proportions of budgetary incomes and expenditures for 2010-2012. It demonstrates indifference of budgetary policy in respect to economic growth. It also argues the possibility of increasing budgetary expenditures for modernization and diversification of economy.
Financial Globalization and the Quality of Institutions
Authors: Rustamov E.
Published: March 2019

The paper examines effects of financial liberalization, observed over the last decades. Contrary to the widespread view, it results in capital flows from developing economies and emerging markets to advanced countries. Positive effects of liberalization are related primarily to the improvement of institutional environment. They are revealed rather in higher total factor productivity than in increased investment. The important conclusion is that financial liberalization should be implemented when the country is prepared for it, as positive consequences overweigh risks only if institutional quality exceeds a certain threshold.
Typology, Identification and Diagnostics of Clusters of Firms: A New Methodological Approach
Authors: Boush G.
Published: March 2019

The article presents the author's approach to typology of clusters of firms based on the categorical model "Row of informational criteria" (RIC). The sequence of informational criteria reflecting the logic of qualitative characteristics of clusters of firms is developed in the framework of the RIC categorical model. Based on the proposed approach the typology of clusters of firms, identification and primary diagnostics of Omsk agricultural cluster are implemented.
Neoliberalism and the World Economic Crisis
Authors: Kolodko G.
Published: March 2019

The paper criticizes neo-liberal ideology as responsible for the recent crisis faced by the world economy. The author analyzes possibilities of forecasting the crisis and shows that modern economic views and values are inadequate for overcoming the crisis and preventing such problems in the future. An alternative system of economic values is proposed which could ensure sustainable economic development.
Arrhythmia of the Lease Market
Authors: Gazman V.
Published: March 2019

The article describes the impact of the current crisis on the lease industry in Russia and gives estimation of lease market volatility, including variability of new lease business value, lease portfolio size and market structure. The author considers cooperation strategies that lease market players use in the crisis period and specifies factors that worsen lease portfolio quality taking into account doubtful and problem corporate debt. The lease effect on macroeconomic proportions is analyzed with calculation of lease capacity of investment and GDP. Comparative analysis of lease concentration in Russia and other European countries is presented. The authors model of lessors specialization is offered as well as a new model of defining formation of lessors leverage.
New Challenges in Regulation of the Financial Sector under the Crisis
Authors: Korishchenko K. , Solovyeva I.
Published: March 2019

The current crisis has revealed many gaps in regulation of the financial sector and emphasized the need for major changes in this area that would help to prevent similar crises in the future. Different proposals have recently been presented for discussion. However, they do not cover the whole problem due to the fact that the main task of changing regulation has not been formulated yet. А sub-task of great importance in the context of global markets is the development of supranational regulation.
Crisis Lessons: A New Model of Regulation of Economy Is Needed
Authors: Kovzanadze I.
Published: March 2019

The article considers the process of forming a new model of regulation of economy that has become urgent because of the most destructive crisis for the last 70 years. Major statistics of the development of the world economy in 2009 and the forecast for 2010 are presented. Basic directions of reforming the regulation system of economy offered both by separate countries and the members of G20 are analyzed. The reaction of representatives of the world political and financial elite to these proposals is shown.
The Researcher of the Problems of Reproduction and National Economy Planning (To the Centenary of G. M. Sorokin, a Noted Soviet Economist)
Authors: Bukhvald E. , Pogrebinskaya V.
Published: March 2019

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Agrotowns and Development of Depressed Regions
Authors: Molodtsov A. , Popov V. , Skorikov E. , Turkov A.
Published: March 2019

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Russian Reforms: Comparing the New Economic Policy Period to Post-Soviet Russia
Authors: Goland Yu.
Published: March 2019

The article compares market reforms during the New Economic Policy (NEP) period in the 1920s to Post-Soviet Russia in relation to the transformation of institutions and economic policy. The consecutive stages in the development of NEP and Post-Soviet Russia are identified. The differences in the ideology and practice of financial stabilization in both periods leading to the production growth under NEP and economic fall in the 1990s are considered. Benefits of the combination of state regulation and market relations at the first stage of NEP and the lack of such combination in the 1990s are demonstrated. At the same time, excessive state intervention in the economy led to the erosion of NEP and hampers economy efficiency in modern Russia.
Introducing Funded Pension Systems: International and Russian Experience
Authors: Tabakh A.
Published: March 2019

The article reviews international experience of the pension reform switching from PAYG pension system toward funded or mixed ones. Issues related to reception of new institutions and changes in institutional environment are considered, recommendations on correction of the Russian pension system are formulated. Global experience shows that funded pension systems were successfully introduced either by democratic political regimes based on consensus or by dictatorships using authoritarian methods. In the latter case, reform plans were corrected as implementation proceeded. Stability of the reformed pension system strongly depends on its transparency and protection mechanisms for employees and employers built within the system. Funded pension system brings higher formal employment but creates new administrative barriers and transaction costs, increasing stability but reducing flexibility of the social insurance system.
Structural Modernization of Russian Financial System
Authors: Vedev A. , Danilov Yu. , Maslennikov N. , Moiseev S.
Published: March 2019

The article is based on the report prepared for the president of the Russian Federation. The authors assess the conditions and consequences of different scenarios of financial policy in the medium-term perspective and outline the targeted criteria for development of national financial system. Among the main findings is the thesis that expeditious development of the economy in 2006-2008 is not efficient and in the medium-term the stable development with the balanced economy and financial system would be optimal. To overcome the financial resources deficiency in Russia it is essential to attract long-term foreign investments, primarily direct ones. The article contains the proposals aimed at the increase of financial sectors efficiency in order to transform it into the international financial centre.
On the Origins of Administrative Rent: Doing Business in a Russian Region N
Authors: Oleinik A.
Published: March 2019

In the article two types of rent are differentiated: resource rent and administrative rent. The latter is linked to restrictions on the access to the field of interactions. The contribution of the theory of public choice and the theory of rent-seeking and directly-unproductive activities is further developed by shifting the emphasis from individual decision-making to interactions between three actors: C, who controls access to the field, A, who gets a competitive edge as a result, and B, who assumes a subjacent position with regard to both A and C, yet still receives a positive gain from transacting. Domination by virtue of a constellation of As, Bs, and Cs interests is illustrated with the help of an in-depth case study of a Russian region. This study combines quantitative and qualitative methods, as well as their triangulation.
"Comparable Markets" as an Instrument of Antimonopoly Policy
Authors: Shastitko A.
Published: March 2019

The article presents economic foundations of markets comparability within the context of competition evaluation on particular commodities markets. It contains approaches to interpretation and evaluation of norms on markets comparability in the Russian law "On competition protection", ways and scenarios of the "comparable markets" concept implementation for antimonopoly regulation purposes. The issues of distributing the burden of proving between antimonopoly agencies and economic entities within the context of presumptions implemented are considered as well.
Image and Persons of Institute of Economics (On the Collective Works "Institute of Economics in Persons")
Authors: Kuznetsova T.
Published: March 2019

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Ways out of the Crisis in Russia and Abroad (A Joint Meeting of Academic Senates of IE RAS and IEF)
Authors: Vyatkina N. , Milova O.
Published: March 2019

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From Economic Theory to the Concept of Long-term Strategy
Authors: Abalkin L.
Published: March 2019

Academician L. I. Abalkin, a scientific leader of the Institute of Economics, RAS views its complex and rather contradictory path, which has been lasting for 80 years, on the background of historic ages that Russia has passed during this period. The history of the country and the fate of the Institute are closely interrelated. The scientists of the Institute invariably concentrate their efforts on elaborating economic theory and long-term strategy of the country development.
The CIS's Regional Trade Potential
Authors: Gurova I. , Efremova M.
Published: March 2019

The empirical study based on the concentration ratios, describing the trade intensity, and the gravity approach shows that under the 2001-2006 upturn, the realization of the CISs regional trade potential decreased significantly, despite the GDP growth and socio-economic developments. It indicates the weakness of the CIS's integration process. Under modernization, the CIS markets are of great importance for Russia because they provide demand for Russia's manufacturing goods and high-tech products.
Crisis and Tax Resourсes
Authors: Lavrovsky B. , Zhigulsky G. , Murzov I.
Published: March 2019

The article considers structural characteristics of tax payments in Russia, the effects of reducing the tax rate. In addition, there are some assessments concerning the dynamics of the process of overcoming the crisis and the corresponding role of some industries. Interrelationship of tax policy and technological modernization is also investigated.
State Regulation and Agricultural Pricing Policies in Russia
Authors: Popova L.
Published: March 2019

The article provides an assessment of pricing policies in agriculture in Russia from 2007 to 2010. The author analyzes the strategy of protectionism in this sector and the impact of global trends on the background of the crisis. The article shows the influence of new federal laws concerning market pricing, first of all, the laws "On retail markets" and "On trade".
Evaluation of Parameters of Russian Oil-and-Gas Sector Development
Authors: Kryukov V. , Marshak V.
Published: March 2019

The article presents the results of evaluation of the parameters of the Russian oil-and-gas sector development from the view point of its sustainability under current changes of important internal and external conditions. Parameters evaluation is based on the national optimal model of the analysis and forecast of fiscal flows. As the calculations show the oil-and-gas sector has the potential to develop new projects exclusively on the basis of its own profit. But oil-and-gas production will be much lower than according to any pessimistic forecasts of the sector development. Thus, the approach oriented towards using companies internal financial resources does not allow to reach targets determined by the Energy Strategy of Russia.
Trends of Regional Integration on the Post-Soviet Space: Results of Quantitative Analysis
Authors: Vinokurov E. , Libman A.
Published: March 2019

The paper applies a new dataset of the System of Indicators of Eurasian Integration to evaluate the changes of level and direction of economic interaction of the post-Soviet states in the last decade. It analyzes the integration dynamics in the area of trade and migration as well as on three functional markets of agricultural goods, electricity and educational services. The paper concludes that the level of trade integration on the post-Soviet space continues declining, while there is a rapid increase of the labor market integration. Three largest countries of the Eurasian Economic Community - Russia, Belarus and Kazakhstan - demonstrate positive integration dynamics, but small countries maintain the leading position in the area of post-Soviet integration.
Education, Social Capital, and Economic Development (Review of Basic Studies)
Authors: Natkhov T.
Published: March 2019

Studies show that education has a positive impact on economic growth not only directly (through the development of new knowledge and improved technology), but also indirectly, by creating a favorable social environment. The educational level of the individual is significant for almost all types of social interactions. There are two hypotheses that explain this dependence. First, education reduces the level of violence in society: weapons in resolving conflicts are replaced with courts and legislative bodies, which contributes to better protection of property rights and hence economic growth. Second, education has significant positive externalities: joint training is an important part of socialization and formation of shared mental models. While not mutually exclusive, these hypotheses point to the crucial role of education in the accumulation of social capital.
Economic Egoism and Humanization of Economy
Authors: Petrosyan D. , Fatkina N.
Published: March 2019

The role of spiritually-moral factors of development of economy is shown in the article and the essence of economic egoism is considered. Humanistic criteria of economic relations are offered, the concept of rational level of economic egoism is entered, and the ways of its achievement in the Russian economy are outlined by perfecting institutional and information policy of the state, developing the education system and upbringing.
The Role of Diagnosis-related Groups in Health Care Organizations Financing
Authors: Sklyar T.
Published: March 2019

The article describes theoretical approaches to the choice of a hospital financing method. The paper discusses three ways of incorporating diagnosis-related groups in health care, i. e. in a prospective payment system which is widely spread abroad; within a pilot project on the single-channel financing of health care organizations in Russia; introducing diagnosis-related groups in St. Petersburg as a basis of health care organization costs recovery.
Prospects of Russia's North Development
Authors: Skuf'ina T.
Published: March 2019

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The Problem of Credible Commitment in the Sphere of Ownership and the Russian Way of Vertical Political Integration
Authors: Volkov V.
Published: March 2019

The article is devoted to the relationship of state and business in todays Russia. The author briefly summarizes the history of those relations and shows that due to mutual distrust and lack of incentives with regard to formalization of their interactions as well as to the states inability to provide credible commitments in the sphere of ownership both the state and Russian oligarchs preferred creating a vertically integrated state capitalism in Russia. Such a form of economic organization in this case involves concentration of power in the hands of top officials and bureaucrats and manual management of the national economy based on personal ties.
The "Economic" and the "Social": Autonomy of Spheres and Disciplinary Boundaries
Authors: Yudin G.
Published: March 2019

Research agenda of the New Economic Sociology since its emergence in the 1970-1980s can be described as a «negative program», focused mainly on critique of economics. Nowadays many economic sociologists as well as sympathizing economists observe theoretical crisis of the negative program. Drawing on the works by M. Weber and K. Polanyi it is shown that fundamental drawbacks of the particular economic-sociological model of explanation arise from the widespread belief of economic sociologists that economic action is a form of social action. The author argues that the problematic relation between «economic» and «social» shouldnt serve for drawing aprioristic disciplinary boundaries between economics and economic sociology. Instead the suggestion is put forward to make this relation the subject of economic-sociological study and indicate some fresh and important theoretical tools for such an agenda.
The Social Construction of a Perfect Market: The Strawberry Auction at Fontaines-en-Sologne
Authors: Garcia M.-F.
Published: March 2019

The article examines social conditions and mechanisms of the emergence in 1982 of a «Dutch» strawberry auction in Fontaines-en-Sologne, France. Empirical study of this case shows that perfect market does not arise per se due to an «invisible hand». It is a social construction, which could only be put into effect by a hard struggle between stakeholders and large investments of different forms of capital. Ordinary practices of the market dont differ from the predictions of economic theory, which is explained by the fact that economic theory served as a frame of reference for the designers of the auction. Technological and spatial organization as well as principal rules of trade was elaborated in line with economic views of perfect market resulting in the correspondence between theory and reality.
US Economic Development Policies: Current Trends and Reasons of Variations on the State Level
Authors: Tsvetkova A.
Published: March 2019

The article looks into the dynamics of the US regional economic development policies in the last decades and tracks the transition from so-called "locational" to "entrepreneurial" strategies. It also documents existing variations in state economic development programs and explains the differences in approaches and current tendencies from both theoretical and practical standpoints.
Piracy in Sea Trade Routes
Authors: Khodov L.
Published: March 2019

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China in the Period of Global Crisis: Beneficiary, Victim or Culprit?
Authors: Mozias P.
Published: March 2019

This article analyzes new opportunities and challenges associated with Chinas entry into the world economy against the background of the recent crisis. It is shown that Chinas domestic macroeconomic disequilibria contributed heavily to the global disbalances which resulted in the global financial crisis. Extremely high rates of saving and investment, along with the huge trade surplus of China, are a mirror reflection of the US economic problems, such as negative gross saving rate, overdependence on consumer demand for economic growth, trade deficit and hefty inflows of foreign capital. Chinas economic cycle broke even in late 2007 - early 2008 that was aggravated with the recession in the developed countries. Hence Chinas economy met with unprecedented economic difficulties. Chinas government stabilization policy was up to the mark, and the economy has accelerated again. But deepening institutional reforms is essential for harmonic economic growth.
Innovation Economy in Russia: What to Do?
Authors: Chubais A.
Published: March 2019

"Rusnano" top-manager's article considers conditions for creating innovation economy in Russia. According to the author, it is necessary to work out a complex strategy, which should define the planning horizon, the model and resources for innovation development. The perfection of legislation in the sphere of organizational-legal forms, intellectual property, and technical regulation is needed in order to meet the goal of building post-industrial economy.
Problems of Science and Its Effectiveness
Authors: Varshavsky A.
Published: March 2019

The article considers current problems of Russia´s science. Special attention is paid to external factors that negatively influence its effectiveness including considerable lag in public management sector. The issues of opposing higher education sector to the Russian Academy of Sciences (RAS) are also discussed. A number of indicators of the Russian science and its academic sector effectiveness are presented. The expediency of comparing scientific results with R&D expenditures is shown. The problems connected with using bibliometric methods are discussed. Special attention is paid to the necessity of preserving and further developing Russian science including RAS.