bluuebunny/crossref_metadata_2025 huggingface dataset:
The Formation of the United System of State Financial Control
Authors: Gorodetsky A. , Morukova A.
Published: March 2019

Alternative variants of the united state financial control conception are analysed in the article. The authors consider the whole system of such control, interaction of its basic elements, its functions and mechanisms. Directions of accounting and realization of fiscal federalism of the Chamber of Accounts activity are argued. Mechanisms of its cooperation with law enforcement organs are indicated.
Economic Biology of Man
Authors: Mironov B.
Published: March 2019

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Macroeconomic Role of Russia's Oil and Gas Sector
Authors: Gurvich E.
Published: March 2019

The paper analyzes, first, the contribution of hydrocarbon sector to GDP, export proceeds, and budget revenues, and, second, the impact of volatility of international oil prices on the Russian economy. It is found that the importance of the oil and gas sector for the Russian economy adjusted for changes in oil prices is steadily declining since 2000. The potential impact of hydrocarbon prices volatility on the Russian monetary situation is weakening. It is demonstrated that 6% to 11% of GDP is shifted from the oil and gas sector to the trade sector via transfer pricing mechanism. Taking this fact into account alters crucially estimated tax burden for the hydrocarbon sector: it is found to be below that for the rest of the industry until 2001, and close to the latter subsequently. The contribution of oil and gas taxes to the budget does not differ much from the share of this sector in the GDP. Recent increase in the share of windfall oil revenues taken to the budget has not been supported with adequate fiscal policies. Current fiscal situation remains robust, but continuation of these trends may make the budget vulnerable to external volatility. The oil sector has played a critical role in the recent economic growth. Still the effect of favorable terms of trade on growth has not been significant, as its possible impact has been damped down with measures taken by the monetary authorities to smooth the effect of external volatility.
The Russian Specificity of "Dutch Disease"
Authors: Zabelina O.
Published: March 2019

This paper aims to study the specificity of "Dutch disease" in Russia. The theoretical basis of the given phenomenon — the booming sector model — is analyzed in detail from the point of view of its applicability under conditions of the Russian economy. The main attention is given to consideration of structural aspects of the problem: sector distribution of factors of production and profitability of branches. From the position of efficiency a number of measures aimed at "Dutch disease" elimination are estimated: protectionism, subsidizing, devaluation.
On the Marxist View of Labor-Capital Relations: Modern Approach
Authors: Rozanova N. , Nazarenko A.
Published: March 2019

Karl Marx saw only one aspect of the whole variety of relationships between labor and capital — the conflict leading to revolution. These relationships can be viewed as a game under the "prisoners' dilemma" situation where two main strategies of both parties are to conflict or to cooperate. Within this theoretical framework, different outcomes from partial and general equilibrium point of view are considered in the article. The cooperative outcome is treated as the only Pareto-efficient.
Labor Strategies of "Soviet Specialists" in the End of the 90-s: The Problem of Embeddedness of Economic Behavior
Authors: Gladarev B.
Published: March 2019

In this article the labor behavior of representatives of mass trades of the Russian intelligentsia under conditions of the transforming economy is analyzed. Neoinstitutional concepts concerning social embeddedness of economic behavior have served as a theoretical framework for this work. The author tries to answer the question why a new configuration of rules of economic life has so weakly affected labor strategies of a significant part of "Soviet specialists" and has not resulted in total reorganization of the labor market. The research project "Organization of daily life and reproduction of social structure in Russia (the case of St. Petersburg)" is the empirical base for this article.
Understanding the Soft Budget Constraint (The Ending)
Authors: Kornai J. , Maskin E. , Roland G.
Published: March 2019

The phenomenon of the soft budget constraint (SBC) in a competitive environment is analyzed in the second part of the article. Its consequences for banks and the role played in developing financial crises are considered. Political intervention in firms is studied. The conclusion is made that the SBC syndrome can arise in any economic system.
Nanoeconomics
Authors: Kleiner G.
Published: March 2019

In 1987 K. Arrow suggested to define the theory of economic behavior of individual economic agents in market or nonmarket conditions as nanoeconomics. In 1996 we considered nanoeconomics for the first time as an independent branch of the economic theory and as a description of special condition of the Russian economy ("economy of physical persons"). In the given paper features of nanoeconomics in comparison with micro-, meso-, and macroeconomics are investigated, characteristics of the Russian economy essential from the nanoeconomic point of view are analyzed. It is shown that the stage of the "economy of physical persons" in the modified form still exists in Russia up to this day.
Russian Economic Thought Learns to Speak the Language of Science (On the "Economic-Mathematical Dictionary" by L. Lopatnikov)
Authors: Evstigneev V.
Published: March 2019

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The Problem of Mining Rent in the Contemporary Russian Economy
Authors: Kimelman S. , Andryushin S.
Published: March 2019

The problems of defining the economic substance, methods of calculation and forms of collecting of mining rent in the Russian oil industry are analyzed in the article. It is argued that mining rent under specific Russian conditions is not a tax, but rather a kind of rental payment. The impossibility of its quantitative estimation on the basis of the system of macroeconomic indicators is grounded. It is shown that mining rent appears and can be quantified only at the level of a certain field.
On the Choice of Goals and Instruments of Monetary policy
Authors: Fetisov G.
Published: March 2019

There is the inherent contradiction in the present-time monetary policy -between the containment of the increase in the exchange rate of the rouble and too high Central Bank rate. This contradiction is caused by limiting the legislatively established goals of Bank of Russia to a target of inflation decrease. To provide macroeconomic stability under conditions of both high and low oil price conjuncture Bank of Russia should use diverse monetary and credit policy instruments including refinancing banking credits to enterprises and purchase of Russian government securities. Since the monetization of the Russian economy is low the threat of inflation strengthening as a result of increase of domestic credit is grossly overestimated. The evidence of this fact is the dynamics of monetary aggregates in constant prices and in terms of dollars as well as in proportion to GDP.
E-Commerce and the "New Economy"
Authors: Zuev A. , Myasnikova L.
Published: March 2019

The market structure and advantages of e-commerce and the "new economy" including e-government are analyzed in the article. E-commerce and the "new economy" are considered as special web-programs forming so-called web-practices in the market. The real place of the "new economy" is connected with its convergence with the "old" one during the globalization processes. The authors also investigate the development of the "new economy" in Russia.
E-Markets and Competition
Authors: Kuznetsov A.
Published: March 2019

Electronic markets are thought to be perfectly efficient in terms of price levels, price dispersion, menu costs and the number of competitive sellers in the market. Indeed, menu costs and prices are usually lower online, but some empirical studies have found that electronic markets are characterised by high price dispersion and high concentration of market power. The author suggests that because of low costs of searching and acquiring information, small number of sellers and low menu costs electronic markets provide better conditions for tacit collusion. The fact that sellers are able to react to competitors' actions faster than buyers may even foster prices to increase. Tighter online competition forces each seller to differentiate from others by advertising his own brand name. In a static equilibrium an increase of the number of buyers may lead to escalation of advertising expenses and force less efficient sellers out of the market.
"Marketocentric" Economics Is Obsolete
Authors: Buzgalin A. , Kolganov A.
Published: March 2019

The "marketocentric" economic theory is now dominating in modern science (similar to Ptolemeus geocentric model of the Universe in the Middle Ages). But market economy is only one of different types of economic systems which became the main mode of resources allocation and motivation only in the end of the 19th century. Authors point to the necessity of the analysis of both pre-market and post-market relations. Transition towards the post-industrial neoeconomy requires "Copernical revolution" in economic theory, rejection of marketocentric orientation, which has become now not only less fruitful, but also dogmatically dangerous, leading to the conservation and reproduction of "market fundamentalism".
The Results of 2003 and The Results of Four Years: Policy versus Economy
Authors: Mau V.
Published: March 2019

The Results of 2003 and The Results of Four Years: Policy versus Economy The paper deals with factors and trends of the economic policy in Russia in 2003-2004, as well as with policy debate on economic growth issues. Current stage of economic development is characterized as transition from the reconstructive growth to the investment one. The author discusses the role of elections in the development of economic policy in 2003, the danger of economic populism, and prospects of economic policy in the "one-and-a-half-party" democracy model. Conclusion presents economic policy priorities for the next presidential term.
Economic Power and Institutional Theory
Authors: Dementiev V.
Published: March 2019

The paper is devoted to the problems of power in the institutional economic theory. The approaches to the analysis of the power phenomenon in various economic conceptions are considered. The underdevelopment of the problem of power in modern pure economics is emphasized. The methodological narrowness of the transactional approach to the power problems analysis is shown. The arguments for the necessity of including the problem of power into the subject of the economic analysis are formulated.
Medvedev V. A. Facing Post-industrial Challenges: A Look at the Past, the Present and the Future of Russia's Economy
Authors: Sorokin D.
Published: March 2019

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Business-groups in Russian industries
Authors: Avdasheva S.
Published: March 2019

The chapter of “Institutional Economics” textbook is devoted to the development of business-groups as a specific feature of industrial organization in the Russian economy. The main determinants of forming and functioning of business-groups such as allocation of property rights in Soviet enterprises, networks of directors and executive authorities in the Soviet economic system as well as import of new institutes and inefficient state enforcement are in the center of analysis. Origins, structure, organization and management within the groups and the role of shareholding and informal control rights are considered.
Fear of Free Floating or Forced Exchange Rate Fixing
Authors: Osipova O.
Published: March 2019

After the financial crisis at the end of the 1990 s many countries rejected fixed exchange rate policy. However actually they failed to proceed to announced "independent float" exchange rate arrangement. This might be due to the "fear of floating" or an irreversible result of inflation targeting central bank policy. In the article advantages and drawbacks of fixed and floating exchange rate arrangements are systematized. Features of new returning to exchange rates stabilization and possible risks of such policy for Russia are considered. Special attention is paid to the issue of choice of a "target" currency composite which can minimize external inflation pass-through.
Russia's Pride and Pain (On the Book by R.A. Belousov "The Economic History of Russia: XX Century")
Authors: Abalkin L.
Published: March 2019

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Investment Processes in the Russian Economy
Authors: Lisin V.
Published: March 2019

The problem of interaction between Russian currency appreciation and positive dynamics of macroeconomic indicators is studied. Main economic factors of ruble appreciation are analyzed. Consequences of the Russian Central Bank's policy directed to oppose ruble appreciation and problems in financial area due to the increase of money supply through the exchange market are considered. Influence of exchange rate appreciation on economic growth, inflation, export, import, capital flows are discussed. It is concluded that Russian ruble appreciation stimulates an increase in efficiency of the Russian economy.
"Institutional Traps" of Post-privatisation Period in Russia
Authors: Oleynik A.
Published: March 2019

Economic reforms in the post-Soviet countries have led to a number of unintended results. The explanation consists in not taking into consideration the institutional constraints existed in these countries, both formal and informal. In particular, the nature of authority relationship must be included in economic analysis. The unintended results of the privatization programs of the 1990s are discussed as an example. The emerged structure of property rights is far from being efficient (e.g., the corporative governance is weak) and socially just. However, the forced redistribution of property right will worsen the situation, as far as the nature of authority relationships — the imposed authority — remains constant.
On the Concept of Financial Stability of the Pension Fund of Russia
Authors: Borisenko N.
Published: March 2019

The article is devoted to investigation of the contents of financial stability of the Pension Fund of Russia (PFR). From the position of the theory of systems the concept and attributes of financial stability of the economic subject are revealed. Two components of financial stability of PFR as a specific economic subject are considered: financial stability of the pension fund and financial management of the managing structure. The article contains the analysis of incomes and expenditures of the pension fund as a part of the Russian financial system, attributes of its financial stability are revealed and its definition is given. The analysis of the legal status of PFR is carried out and the expediency of ascribing to it the status of state institution is grounded. Classifications of financial resources and obligations of PFR are suggested and the definition of its financial stability is formulated.
Organizational Framework of Public Services Provision.
Authors: Shastitko A.
Published: March 2019

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The System of Russia's Oil and Gas Complex Regulation
Authors: Krivoshchekova E. , Okuneva E.
Published: March 2019

The main principles of state regulation of the oil and gas industry in the countries — leading world oil manufacturers and exporters are considered in the article. The system of state regulation in the oil sector of the Russian economy is studied. Special attention is given to the problems of taxation and usage of the bowels of the Earth. It is shown that the present system of state regulation meets neither interests of the state, nor interests of society and business. Some measures helping to increase the efficiency of state regulation in Russia's oil industry are offered.
Risk Management in Banks
Authors: Tchernykh S.
Published: March 2019

Problems of managing risks of partnership in banks taking into account the new Central Bank of Russia document "On Organization of Internal Control in Credit Organizations and Bank Groups" are considered in the article. It is pointed out that effective bank risk management including risks of partnership сan be realized only under condition of bona fide competition. Functioning of banks in competitive environment is impossible without risks, their monitoring allows to become competitive on the banking services market if various "black lists" and other unsound negative information leading to lowering the level of liquidity of a credit organization are absent. Methods of managing risks of partnership that become all the more complex under the influence of technological innovations (in particular, the development of operations with credit derivatives) are also analyzed.
Russia and China: The Vector of Development of Economic Cooperation
Authors: Kabir L.
Published: March 2019

This article considers the basic tendencies of development of trade and economic cooperation of the two countries with accent on increasing volumes and consolidating trade and economic ties in Russian-Chinese relations. The author compares Russian and Chinese participation in the world economy and analyzes the counter trade from the point of view of basic commodity groups.
Development of Small and Medium Business — the Locomotive of the Economy (The Case of Taiwan)
Authors: Biryukov A.
Published: March 2019

Taiwan experience of SME development has attracted attention of the international organization "Asia-Pacific Economic Cooperation" which carried a number of actions to study similar experience. The article covers issues of the history of SME development in Taiwan, forms, methods and directions of its support on the part of political power as well as successful stories. The study of foreign experience in the field of SME development, its creative application in Russia are important for establishing conditions for the construction of a strong social state and a knowledge based society.
One More Time in Support of the Criticism of the Expanded Approach to the Labor Market
Authors: Kotlyar A.
Published: March 2019

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Regulation and Management of Enterprises with State Participation: International Experience
Authors: Luzan S.
Published: March 2019

The articles by the experts of the Association of Studies of Public Economics analyze the situation with firms of the state sector of the Russian economy along three directions:

- qualitative analysis of Russian and foreign experience in governing the public sector of the economy;

- institutional and legal analysis of state unitary enterprises (SUEs);

- comparative statistical analysis of performance indicators of public and private firms in Russia.

On the basis of Russian and foreign experience authors study unsuccessful attempts to create effective forms of state entrepreneurship, argue the impossibility to make positive incentives for managers within the system of "bureaucratic entrepreneurship" and the necessity to limit state intervention into economic activity by a small number of public goods which cannot be provided by markets. Authors give a number of examples of various forms of inefficient governance and misuse of public property in modern Russia. Authors study the evolution of the legal form of SUEs which was created in the Soviet-type economy, perspectives of its existence in the modern Russian legislation. They prove the contradictory nature of SUEs and make conclusion about the inevitability of transformation of this sector of the Russian economy. The results of performance indicators comparison of private and public enterprises are contradictory. Federal SUEs show significantly better results than private firms in return on sales, liquidity and financial stability though return on labor and capital (labor productivity and return on assets) is lower in the SUEs. At the same time corporations with a majority block of shares in the hands of the federal government (which are similar to the SUEs in many aspects) are the worst performers among all types of firms with state participation. Authors attempt to explain these contradictions.
Finn Kydland and Edward Prescott: Driving Forces behind Economic Cycles (2004 Nobel Prize in Economics)
Authors: Balashova E.
Published: March 2019

The method of analyzing and modeling cyclical fluctuations of economy initiated by F. Kydland and E. Prescott - the 2004 Nobel Prize winners in Economics - is considered in the article. They proposed a new business cycle theory integrating the theory of long-run economic growth as well as the microeconomic theory of consumers and firms behavior. Simple version of general dynamic and stochastic macroeconomic model is described. The given approach which was formulated in their fundamental work "Time to Build and Aggregate Fluctuations" (1982) gave rise to an extensive research program and is still used as a basic instrument for investigating cyclical processes in economy nowadays.
The Concept of Real Economic Cycles and Its Role in Evolution of Macroeconomics
Authors: Zamulin O.
Published: March 2019

The article discusses the contribution of the 2004 Nobel Prize winners in Economics, F. Kydland and E. Prescott, to business cycle theory. To place this contribution in historical perspective, development of macroeconomic science at large, beginning with 1930, is discussed, including the early Keynesian theories, rational expectations revolution, and the modern debate between New Keynesians and New Classicals. Special emphasis is then made on the differences between the modern general equilibrium theories proposed by Kydland and Prescott and the supporters of theories based on sticky prices and imperfect information. The article is concluded by a discussion of room for consensus between these two branches of macroeconomics.
The Sources of Post-crisis Economic Growth in Russia
Authors: Ahrend R.
Published: March 2019

This paper provides an in depth analysis of Russia's recent growth, with a view to understanding the prospects for its continuation. A key finding is that the role of the oil sector, and particularly privately owned oil companies, has been vastly more important in driving economic growth since 2001 than the official data suggest. The paper further argues that prudent post-crisis fiscal policy has also been essential for creating a macroeconomic environment conducive to strong growth. Looking forward, it is argued that given its economic structure Russia is bound to remain a heavily resource dependent economy for some time to come. This reality largely defines the most important challenges facing Russian policy-makers as they seek to create a framework for sustained growth.
Institutional Analysis of Business Corruption in Russia
Authors: Degtyarev A. , Malikov R.
Published: March 2019

The parameters of the Russian market of business corruption are studied in the article. Comparative historical analysis of corruption practice in Russia is presented. A correlation model of corruption interaction of an economic agent with a bureaucrat is proposed. The authors offer an approach to modeling entrepreneurs’ shadow economic activities taking into account corruption costs. The ways of achieving anticorruption consensus between business and authorities are considered.
Deformalization of Rules of Interaction between Authorities and Business
Authors: Kurbatova M. , Levin S.
Published: March 2019

Taking Kemerovo Region as an example, the article describes the existing model of institutional structure of interaction between authorities and business in the Russian economy. It shows that the current model of their relationships has inherited the attributes of the Soviet-era economic institutions. It also reveals reasons of economy’s deformalization. The authors point out that the "grey" zone of interaction between authorities and business is the result of the rules’ deformalization process, a set of institutions, which regulate the "additional financing of regions" by business funds. The article also describes reasons and main signs of rules’ deformalization in interaction between authorities and business at the regional and municipal levels as well as interests and positions of the interested parties in this process.
Economics of Information: The New Paradigm and Its Limits
Authors: Sapir J.
Published: March 2019

The article considers historical development and scientific achievements of informational approach in economic theory. The author’s research is devoted to different versions of economic analysis using theory of asymmetric information. Positive and normative contradictions emerging from differences between economics of information and neoclassical theory are examined. Special attention is paid to internal problems of the new paradigm as well as to the role of state-governed economic policy based on theoretical implications of informational approach.
Ideas of Revolution and Revolutionary Ideas (On the Book by I. Starodubrovskaya and V. Mau “Great Revolutions: From Cromwell to Putin)
Authors: Aron L.
Published: March 2019

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Institutional Components of Economic Growth
Authors: Radygin A. , Entov R.
Published: March 2019

The paper deals with the issues of forming market economic institutions in the context of current discussions on intensification of and constraints to economic growth. These problems are considered from the perspective of both short-term and longer term objectives that imply securing economic growth: namely, stability and adjustability of the institutional environment, protection of property rights, development of formal and informal law enforcement institutions, corporate governance, bankruptcy, financial markets, among others.
Electricity Restructuring: To Real Competition or Potemkin-type Liberalisation?
Authors: Tompson W.
Published: March 2019

Electricity restructuring is intended to introduce competition into electricity production and supply, leaving dispatch, transmission and distribution as regulated natural monopolies with non-discriminatory third-party access to the networks. The aim of the reform is to ensure that supply continues to meet growing demand by creating conditions that will encourage investment and promote greater efficiency in both production and consumption. If the reform is to achieve its major goals, the marketised segments of the sector must be characterised by real competition based on economically meaningful prices. There are two dangers here. The first is that private interests will acquire substantial market power. The second is that the state itself will use the assets it retains, combined with the considerable regulatory powers at its disposal, to "manage" the market.
Russia’s Economic Reform Outlook
Authors: Dmitriev M.
Published: March 2019

The author reviews the process of economic reforms in the Russian Federation in 2004-2005 and assesses reform perspectives for the period of 2006-2008. In most of the reform areas Russia is still a long way from the level of OECD countries: outcomes for 2004 demonstrate that during 2003-2004 Russia joined the economies in transition with the slowest pace of reforms. The article analyzes the possibilities and obstacles for continuation of reforms within the next three years. The author concludes that in the mid-term perspective the pace of Russian economic reforms is unlikely to accelerate. There is a close positive connection between the pace of reforms and the rate of economic growth in transition economies; therefore, the slow pace of reforms will contribute to deceleration of economic growth. Consequences of the reform slowdown will become most visible beyond 2008.
Evolution of the Structure of the American Economy
Authors: Porokhovsky A.
Published: March 2019

The author pays special attention to the USA leading positions in the world economy. The basic significance of traditional industries, first of all manufacturing, in the structure of the American economy and its evolution are underlined. The article analyzes in detail the increasing role of services including finance. Information technologies create new economic structure and new quality of economic growth. A reader learns from the article about sustainable reproduction role of business cycle in the past and present.
Competition Advocacy as a Component of Competition Policy
Authors: Shastitko A. , Avdasheva S.
Published: March 2019

The article is devoted to competition advocacy as an important component of the activity of antimonopoly body. The specific features of objects, methods and results of competition advocacy as compared with the enforcement of antitrust legislation are demonstrated. The authors analyze the main directions of competition advocacy by the antimonopoly body. It is stressed that such an advantage of competition advocacy as an opportunity of its broad use not connected strongly with the antitrust legislation in force is extremely important for the Russian economy. Recently the Federal Antimonopoly Agency has included competition advocacy in the framework of departmental target programs that makes necessary the analysis of indicators of the targets attainment level.
Options as an Instrument of Fuel-Energy Complex Regulation
Authors: Kizilov V. , Novikov V.
Published: March 2019

In order to solve political and economical problems of FEC deregulation and increase its efficiency the authors suggest the mechanism using options. It is based on the substitution of state regulation by the system of private legal obligations of the proprietors of existing assets to their consumers. It is proposed that the proprietors of newly created assets will be free from these obligations as well as from natural monopolies regulation.
Current Tendencies of the Russian Banking Sector Development
Authors: Steinherr A.
Published: March 2019

The reasons of the financial crisis of 1998 in Russia are considered in the article. It is stressed that the monetary authorities missed the chance to establish the banking sector framework in the country closer to tested Western standards. The current state of the Russian banking system is analyzed, its unresolved problems are formulated: lack of an enabling environment, difficulties with choosing the banking model, absence of a level playing field, low trust, deficiencies of regulatory framework and corporate governance. Privatization of state banks and introduction of a two-tier banking system are proposed.
Latvian Economy under Conditions of Globalization
Authors: Kochetkov Yu.
Published: March 2019

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New Economy of Kaliningrad Region
Authors: Gareev T. , Zhdanov V. , Fedorov G.
Published: March 2019

Since 1991 the regime of the free (since 1996 - of the special) economic zone has been in effect in Kaliningrad region. The regime has considerably determined the economic development of the region. Before 1998 drastic recession had affected traditional industries as well as construction and agriculture and most of the service industries. But after 1998, as the Russian economy began to recover from the crisis and the Russian market started to expand, the aforementioned economic regime led to high rates of production growth and to the development of a new regional economy oriented at import substitution and servicing foreign economic relations. At present, when the region has turned into an enclave within the European Union, and the "zonal" mechanism is being questioned, a threat of new drastic breakage of the established economic structure emerges, followed by unavoidable negative social consequences. The ways of modernization of the regional economic mechanism based on the improvement of the law on the Special Economic Zone are analyzed in the article.
Novations in Budgetary Process: Budgeting Focused on Result
Authors: Gamukin V.
Published: March 2019

In the article the starting condition of applicating the new method of organization of the budgetary process - the budgeting focused on result is estimated. The importance of specification of the conceptual and methodical device of budgeting with reference to the public finance is underlined. It is conditioned by the fact that rich foreign and domestic practice of budgeting in commercial sector cannot be directly used for optimization of a trajectory of movement of state and municipal finances.
Problems of Industrial Self-regulation in the Russian Economy
Authors: Osipenko O.
Published: March 2019

Continuing the discussion on industrial self-regulating organizations the author forwards new arguments for acceptance of special legislation on SRO in Russia, explores institutional principles as the base of that law. The draft law developed in the State Duma is analyzed through the prism of organizational borders of industrial self-regulation, social and economic guarantees of effective SRO evolution. Institutional nature of rules enforced by those organizations and variants of self-regulation are also considered.
Institutionalizing of Mining Rent in the Russian Oil and Gas Complex
Authors: Morgunov E.
Published: March 2019

The model of mining rent institutionalizing on the basis of subsoil public property is described in the article. The effective forms of mining rent withdrawal and the scheme of its distribution within the state financial system are considered. An estimation of natural resource rent, particularly oil production rent, is made.
Endogenous Opportunism in the Principal-Agent Theory
Authors: Popov E. , Simonova V.
Published: March 2019

The point of the article is studying basic problems of the firm institutional theory - opportunism behavior problem in a principal-agent relationship system on the firm level. The article is devoted to the analysis of the essence of opportunism as economic category, definition of basic forms of inside opportunism and estimation of their influence on performance of firms of the Ural region. Factors that influence the level of opportunism are classified.
Education: Service or Life?
Authors: Grebnev L.
Published: March 2019

The author points out that self-education is the ontological basis of the educational process. Self-education forms a specific type of personal "natural economy". In industrial society teaching technologies reduce education to objective oriented learning leaving behind subjective oriented upbringing. Various markets are emerging in educational sphere characterized by the tendency to substitute "live" labor by "embedded" one. But even the most advanced countries have not extended WTO principles to the educational area.
Socioeconomic Forecasting: Scientific and Teaching Problems
Authors: Skufina T. , Baranov S.
Published: March 2019

The authors discuss some problems of socioeconomic forecasting and analyze the specifics of teaching this discipline at higher school. Attention is focused on peculiarities and typical mistakes in Russian forecasting. The factors that restrict the scope of prognostic methods are considered. Some improvements for teaching are proposed.
Introduction of Full Convertibility of National Currency: Problems of Theory and Practice
Authors: Navoi A.
Published: March 2019

The article is devoted to actual questions of introducing convertibility of the ruble. The structure and definitions of convertibility are considered. On the basis of the international experience the economic essence of convertibility as a source of additional income of the states-emissioners is revealed. The sequence of stages of convertibility in advanced economies is presented, basic problems of introducing convertibility in developing as well as in transition economies are studied. The experience of transition to convertibility of the ruble and corresponding consequences for the Russian economy are analyzed.
Organizational Culture and Effectiveness: The Russian Context
Authors: Fey C. , Denison D.
Published: March 2019

This paper examines the link between organizational culture and effectiveness for foreign-owned firms operating in Russia. Beginning with a model of organizational culture developed in the United States, the paper presents a multimethod analysis of culture and effectiveness in a transition economy. The authors argue that effectiveness in Russia relies more on adaptability and flexibility than it does in the United States. Furthermore, the legacy of the communist era forces firms in Russia to deal with the workforce with a unique time perspective and a unique set of subcultures that often undermine attempts at coordination and integration. These ideas are explored using survey data on 179 foreign-owned firms operating in Russia and compared with the results obtained for such firms in the United States.
Future Russia’s WTO Accession and Potential Economic Risks
Authors: Chirkin A.
Published: March 2019

WTO plays the key role in regulating international foreign trade. The article considers basic problems, which Russia will face after joining this organization. Advantages as well as risks connected with membership in WTO are noted. The necessity of safeguarding national interests and fulfilling the requirements of the country's economic security is stressed.
The Institute of Economy in the Great Patriotic War
Authors: Kapustin E.
Published: March 2019

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Issues of Tax Stimulation of Investment Activity of Banks
Authors: Borisov O.
Published: March 2019

The article is devoted to the questions of development of tax strategy of the state in the field of stimulation of investment activity of banks. The author analyzes the influence of taxation on the yield of credit transactions of banks. Special attention is paid to tax risks of banks in realization of investment operations. Issues of tax stimulation of investment demand and investment supply are considered.
Influence of Social Security Tax Reform on Shadow Economy: Unofficial Agreement and Conflict of Interests
Authors: Osakovsky V.
Published: March 2019

Public discussion around social security tax reform is mostly concentrated on the size of possible rate cuts. At the same time, game-theoretic analysis shows that the existing mechanism of tax collection and calculation stimulates tax evasion. The stimulating effect is based on the mutual interest of employer and employee in tax minimization schemes, which results in establishing unofficial agreements between them and formation of the social norm of common tax evasion. The analysis also shows that the negative influence of the tax can be minimized by transfering the social security tax from employer to employee. Such transfer results in an occurrence of the conflict of interests between the parties, which under certain conditions can cause formation of the social norm of common compliance with tax legislature.
Trade Liberalization and Trade Balance
Authors: Afontsev S.
Published: March 2019

The paper estimates the impact of import tariffs on Russia's trade balance. Empirical model analyzes Russian trade by industries and partner countries, taking into account import tariffs on both industrial output and intermediate goods. It is shown that the aggregate impact of import duties on trade balance is negative in all industries outside the fuel and energy sector. Decrease in import tariffs is likely to improve market positions of Russian non-fuel exports, especially in such industries as machine building and metal works, agriculture and forestry, chemistry and light industry.
Innovative Mechanisms of Attracting Migrants’ Remittances to the Official Financial Sector
Authors: Glushchenko G.
Published: March 2019

The article is devoted to studying innovative mechanisms in the financial sphere, promoting attraction of migrants' remittances to the official financial sector. It is shown that structural transformations of the banking system, perfection of remittance technologies, development of microfinancial organizations and their cooperation with banks and payment systems, improvement of migrants' access to official financial channels, realization of special government programs are capable to change significantly the existing situation in the sphere of migrants' remittances.
Phase Model of Market Economy
Authors: Yegorenkov N. , Kazakova E. , Starodubtseva M.
Published: March 2019

The phase model of market economy is suggested in the article. It is formalized in the cubical equation The equation takes into account the imperfections of competition and the fact that consumer goods are produced with the help of means of production. Transitions from the imperfect competition to the perfect one and visa versa yield qualitative status change of market economy.
Synergetic Market Hypothesis in the Light of Phenomenological Theory of Phase Transfers of L. Landau
Authors: Kuznetsov B.
Published: March 2019

The author pays special attention to the fundamental attributes of economic systems - their nonlinearity and nonequilibrium. So the usage of strictly determined optimization models cannot provide adequate results. He argues that the concept of synergetic effect of self-organization is very useful in economic modeling. It is suggested that the theory of phase transfers can be fruitful in the analysis of the evolution of such synergetic systems.
Evolution of Russian Fiscal Federalism
Authors: Shvetsov Yu.
Published: March 2019

The article considers the state and prospects of development of fiscal federalism in Russia. The most important shortcomings of the system of budgetary regulation have been revealed and analyzed; the subsidiary nature of regional and local budgets forming has been proved. The conclusion about the deviation from the universally recognized principles of fiscal federalism in Russia and returning to the policy of centralized managing of state financial resources has been drawn.
Improvement of Property Rights Protection - Dormant Reserve of Russia’s Economic Growth?
Authors: Tambovtsev V.
Published: March 2019

Prospects of the improvement of property rights protection in Russia are analyzed in the article through the prism of the economics of property rights. The level of independency of judiciary as a factor of property rights protection, and influence of the level of competition on the political market on judicial independency are stressed. Basing on the positive dynamics in Russia of the share of fiscal revenue that is not connected with value creation, the conclusion is drawn that there are great obstacles for improving the situation with property rights protection.
Distributional and Welfare Implications of the Military Draft in Russia: Micro-level Evidence
Authors: Yemtsov R. , Lokshin M.
Published: March 2019

In this paper data from a large nationally representative survey in Russia are used to analyze the distributional and welfare implications of the military draft. The authors focus on draft avoidance as a common response to highly unpopular conscription system ridden by corruption. A theoretical model that describes household compliance decisions with respect to enlistment is developed. Several econometric techniques are employed to estimate the effect of household characteristics on the probability to serve in the army and the draft-induced implications for household income. The results indicate that the burden of conscription falls excessively on the poor. Poor, low-educated, rural households are much more likely to have their sons enlisted compared to urban, wealthy and better-educated families. The losses incurred by the poor are disproportionately large and exceed the statutory rate of personal income tax.
Optimum Structure of the Banking Market: How Many Banks Are Necessary for Russia?
Authors: Moiseev S.
Published: March 2019

The number of classical banks in the world has reduced. In the majority of countries the number of banks does not exceed 200. The uniqueness of the Russian banking sector is that in this respect it takes the third place in the world after the USA and Germany. The paper reviews the conclusions of the economic theory about the optimum structure of the banking market. The empirical analysis shows that the number of banks in a country is influenced by the size of its territory, population number and GDP per capita. Our econometric estimate is that the equilibrium number of banks in Russia should be in a range of 180-220 units.
Quoting of Jobs for the Disabled in Moscow Labor Market
Authors: Ilin S.
Published: March 2019

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EU Antidumping Duties
Authors: Baikov M.
Published: March 2019

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Economic Growth: New Problems and New Risks
Authors: Ershov M.
Published: March 2019

The economic growth, which is underway in Russia, raises new questions to be addressed. How to improve the quality of growth, increasing the role of new competitive sectors and transforming them into the driving force of growth? How can progressive structural changes be implemented without hampering the rate of growth in general? What are the main external and internal risks, which may undermine positive trends of development? The author looks upon financial, monetary and foreign exchange aspects of the problem and comes up with some suggestions on how to make growth more competitive and sustainable.
Estimating Russian Economy Growth
Authors: Kuleshov V. , Marshak V.
Published: March 2019

The article presents the results of the research made on the basis of the dynamic currency circulation model developed in the Institute of Economics and Industrial Engineering, SB RAS. The model reflects the interaction between market agents operating in the commodities and services production sector (including new capacities and their construction lags), finance sector (commercial banks), the Central Bank of RF, exchange market, households and public sector. Through applying the model, the authors could receive and analyze basic economic parameters providing effective growth in the economy.
Stock Market, the Institutional Structure and Stability Problem in the Capitalist Economy
Authors: Skorobogatov A.
Published: March 2019

The paper addresses the problem of interaction of the stock market and real investment in the contemporary economy. The stock market and the real economy are considered as autonomous economic worlds with growing domination of the stock market. From the Post Keynesian perspective the author shows the implications of the stock market domination for economic stability and welfare. In particular, narrowing of the planning horizons and regular shocks due to volatility of finance availability are considered, which may facilitate the crisis because the economy is financially fragile. The institutional prerequisites for the stock market isolation and domination over the real sector are analyzed.
Economic Policy in 2005: Defining the Priorities
Authors: Mau V.
Published: March 2019

The paper deals with the logic and priorities of Russian economic policy in 2005. Among the main trends the author discusses: factors of economic growth; institutional and dirigiste approaches to consolidation of economic growth; the role of "national projects" announced in 2005 in economic policy debate; "diminishing returns" of economic legislation and priority of reforming the judicial system (law enforcement institutions) and human capital development over economic reform per se. The paper also deals with the priorities for 2006 and forthcoming years.
Economic Organization: Towards Theoretical Synthesis
Authors: Luksha P. , Belousenko M.
Published: March 2019

Constructive criticism of new institutional and resource-based approaches in the theory of the firm is conducted in the article, allowing to outline elements of the synthetic approach to the studies of economic organization. In the course of market replacement by the firm, novel and unique qualities arise, organization-specific knowledge and particular system of social relationships in the first turn. Necessary elements of the synthetic theory should include the analysis of specific productivity, specific social interactions within the firm, and organization-specific knowledge.
On the Problem of Formalism in Economics
Authors: Hodgson G.
Published: March 2019

The author analyses "critical realist" economic methodology with respect to application of mathematical modeling. He indicates strong and weak sides of critical realist argument, putting emphasis on the works by T. Lawson. An alternative view on the role of formal technique in economics is proposed, taking into account the diversity of interpretative contexts while applying mathematical models.