bluuebunny/crossref_metadata_2025 huggingface dataset:
Crisis Reactions and Their Consequences for the Real Sector of the Russian Economy
Authors: Lushin V.
Published: March 2019

The author analyzes factors that led to a deeper fall in output and profitability in the real sector of the Russian economy in comparison with other segments during the acute phase of the financial crisis. It is argued that some contradictions in the government anti-recession policy, activities of the financial sector and natural monopolies lead to pumping out added value created in manufacturing and agriculture, increase symptoms of the «Dutch disease», etc. It is shown that it may threaten the balanced development of the Russian economy, and a set of measures is suggested to minimize these tendencies and create a basis for the state modernization policy.
Search Theories of Markets (Nobel Memorial Prize in Economics 2010)
Authors: Nikitin M. , Yurko A.
Published: March 2019

The article reviews the search and matching methodology developed by Peter Diamond, Dale Mortensen, and Christopher Pissarides, who won the Nobel Prize in economics in 2010. The main focus is on the applications of this methodology to the analysis of labor market. The article shows the limitations of the Walrasian approach to modeling labor market, provides an example of a simplified stylized search model and discusses briefly the contribution of each laureate.
Managing Motives in Public Health
Authors: Chirkunov O.
Published: March 2019

Certain solutions in politics and economics seem self-evident, at first glance. It seems one should simply correct an obvious mistake and the world will change for the better. However, when the good deed has been done, the result may be quite far from what was expected. Reforms can only be successful if they take into account the interests and motives of all the participants of the process. Starting from this thesis, the author discusses the stages in the public health reform in Russia and proposes an explanation why many governments actions in this field turn out to be ineffective and fail to reach the intended goal.
International Migration in Russia: Dynamics, Policies, Forecast
Authors: Ivanov S.
Published: March 2019

Large flows of migrants into low fertility countries increase the weight of international migration in the population dynamics. The current net migration inflow to Russia is about 350 thousand people per year. Migration hypotheses of the population projections include the assumption of constancy of this level until 2050; net migration of 50 thousand people per year; zero net migration and net migration at the level of 900 thousand people per year. Migration hypotheses are combined with the hypotheses of future trends in fertility, including the low, the middle and the high variants. With low fertility and zero net migration the population by 2050 will be reduced by almost half. Stable migration combined with low fertility will not prevent depopulation of the order of almost 1/3 by 2050. If fertility trend follows the high path and migration remains constant the population size will be restored in 10 years and then will increase by 10 per cent. Тo restore the population size by 2020 with slowly increasing fertility, approximately 1, 5 million people more should immigrate into Russia every year than emigrate from it.
The Legacy of the Outstanding Economist (The Centenary of Maurice Allais)
Authors: Belyanin A. , Egorov I.
Published: March 2019

The paper is devoted to Maurice Allais, the Nobel prize winner and one of the most original and deep-thinking economist whose centenary is celebrated this year. The authors describe his contributions to economics, and his place in contemporary science - economics and physics, as well as his personality and philosophy. Scientific works by Allais, albeit translated into Russian, still remain little known. The present article aims to fill this gap and to pay tribute to this outstanding intellectual and academic, who deceased last year, aged 99.
Russia and China: The Inevitability of Crucial Changes
Authors: Gelbras V.
Published: March 2019

Absolute domination of the state in a national economy defines radical difference of Russia and China from the majority of other countries. Here the similarity of the two countries as a matter of fact comes to an end. China has created the economy focused on export by means of unprecedented investments into fixed capital. In the country for a long time the interests of domestic market and basic requirements of the population have been ignored. Russia grounds its export economy on the development of raw materials and power generation sectors with limited creation of new branches. In contrast to China in Russia the purpose of development has not been formulated, there is no idea uniting the people. In the end of 2009 a basic change in the Russian-Chinese cooperation took place. China persistently tries to transform Russia into a raw appendage of its economy.
Financing Platforms of Local Governments and Their Role in Credit Boom in China in 2009-2010
Authors: Gruzdev A.
Published: March 2019

The implementation of the anti-crisis program by the PRC State Council led to a credit boom in 2009-2010. The local governments specially established companies (financing platforms) were among the most vigorous borrowers. The article analyzes the influence of these companies on the banking system stability. The author concludes that the rapid accumulation of the financing platforms debt is mainly due to the revival of political lending and may result in a substantial increase of bad debt.
Adam Smith and the Contemporary World
Authors: Sen A.
Published: March 2019

In this paper that is a transcript of a lecture held to commemorate the 250th anniversary of Adam Smith's "Theory of Moral Sentiments" the author who is a Nobel Prize winner in economics reflects on the relevance of this classic. He shows that Smith proposed a historical approach to institutional transformations as opposed to the authors who tried to advance a system of ideal institutions. The importance of Smith's views on impartiality in ethical evaluation of social conditions and in building a just society is also emphasized.
Statistics of Search Queries in Google as an Indicator of Financial Conditions
Authors: Stolbov M.
Published: March 2019

The article deals with opportunities and limits of Google search queries statistics as an indicator of financial conditions. The methodological issues and empirical results of the use of such indicators in foreign countries are discussed. It is shown that this statistics should be incorporated in an econometric model of individuals deposit growth in Russia. A composite indicator of financial situation allowing for shifts in financial expectations of individuals and entities is also proposed. It is proved that such measures may be good complements for traditional indicators to monitor financial conditions, which are based on the interview method.
Implications of and Adaptation to Climate Change in Russia: Assessment and Forecast
Authors: Porfiriev B. , Kattsov V.
Published: March 2019

Comprehensive assessment of macroeconomic implications of climate change in Russia by 2030 including the authors original evaluations and forecasts is provided in the article. The weather and climate fluctuations impact on dynamics and qualitative indicators of selective industries of the Russian economy is contemplated in depth. Key directions and a set of measures of their adaptation to this impact along with those for reducing the climate change risks to the national economy are analyzed. It is argued that including the climate change factor into the development policy and industry and services modernization projects in Russia, particularly its consideration while introducing technological innovations are both necessary and economically effective. The role of science and scientific organizations as principal institutions and drivers of adaptation of the Russian economy and society as a whole to climate change is especially emphasized.
Present Geo-economic Positioning in the Russian Arctic
Authors: Selin V.
Published: March 2019

The article considers current economic problems of the Russian Arctic which is the zone of national strategic interests of the Russian State. This is especially acute due to further large-scale development of the Arctic shelf. Contradictory trends of international cooperation are analyzed, because it is an important condition for development of extremely expensive and technically complicated projects in the Arctic.
The Political Economy of Trade Openness Reform: Consequences of Reform for Russian Border Regions
Authors: Ryzhova N.
Published: March 2019

The article deals with the incentives for increasing international trade centralization and restricting trade border regions openness in reformed economy. Two groups of incentives are determined in terms of new political economy approaches: fear of separatism and reluctance of income redistribution. The situation with the radical international trade reform in Russia, followed by correction of trade openness, illustrates key moments in the concepts.
Emerging Markets Central Banks Exchange Rate Policy
Authors: Andryushin S. , Kuznetsova V.
Published: March 2019

The article analyzes the emerging markets central banks exchange rate policy, while they choose the exchange rate regime in conditions of financial globalization. The authors present the new IMF exchange rate regimes taxonomy which separates them using historical data about nominal exchange rate developments. They identify some factors which affect the exchange rate regime option from the macroeconomic point of view. The article reviews some national markets safeguard measures from external shocks generated by international capital inflow or outflow.
In Memory of the Regional Khozraschyot: The Dilemmas of Russian Federalism
Authors: Orekhovsky P.
Published: March 2019

The paper is devoted to the problems of promoting regional economic growth in Russia. Despite the efforts directed at the reforms of budgeting and political systems the interregional disbalances still persist. Unevenness of socio-economic development in the Russion regions leads to further centralization and may threat the existence of the federation. The paper draws an analogy between the Soviet elaboration of «khozraschyot» mechanisms and the Russian enhancement of federalism. In the latter case the attempts at reforming are performed using the paradigm that is marked by methodological contradictions and therefore is of no use for the improvement of Russian federalism.
Commonwealth of Independent States: The First 20 Years
Authors: Shumsky N.
Published: March 2019

The article assesses the effectiveness and outcomes of cooperation of the Commonwealth participating states over the past 20 years. It reviews perspectives and directions for further development of the CIS taking into account the conditions and characteristics of integration processes of the post-Soviet states, implementation of the principles of multilevel and multispeed integration of the Commonwealth participating states.
Economic Analysis in Cases Settled According to the Law "On the Protection of Competition"
Authors: Avdasheva S. , Shastitko A.
Published: March 2019

The article focuses on economic analysis in cases of violation of the Russian antimonopoly legislation. It presents quantitative characteristics of various tools of economic analysis, prescribed by the rules of analysis and assessment of competition, developed by the Federal Antimonopoly Service. They are based on a small sample of cases filed by the Russian competition authorities. Sources of demand for higher standards of economic analysis in cases of violation of antitrust laws are under consideration.
Economy as an Organism
Authors: Golubev A.
Published: March 2019

Practicability of viewing economy not as a mechanism but as an organism is grounded. The concept of "genetic economics" that is considered in time and space is defined. The orders of economic constancy are recommended. "Genetic economics" axiomatic statements are formularized.
French-Russian Partnership in Innovation Development: Preliminary Results of the Year of France in Russia
Authors: Mal'tseva I. , Efremov S.
Published: March 2019

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Analysis of Short-term Trends in the Russian Economy: How to Clear the "Fog of the Present" away?
Authors: Bessonov V.
Published: March 2019

The reasons of sharp deterioration of the analysis of short-term trends in the Russian economy are considered in the article. These reasons are caused by both the current state of the Russian economic statistics and wide distribution of inadequate technique of the analysis of short-term trends. Specific character of the economy in transition and current crisis complicate the problem as well. Possible consequences of the issues discussed are considered, and proposals to overcome them are formulated.
Economics of Long Kondratiev Cycle (On the Book by L. P. Evstigneeva and R. N. Evstigneev Economy as a Synergetic System)
Authors: Bauer V.
Published: March 2019

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Industrial Policy of the State: Russia's Historical Experience
Authors: Seleznev F.
Published: March 2019

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Koshanov A. National Economic Interests and Ownership Relations
Authors: Rasulev A.
Published: March 2019

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French-Russian Discussions at the HSE French-Russian Academic and Research Conference Economics, Politics, Society: New Challenges, New Opportunities, October 28-29, 2010
Authors: Maltseva I. , Efremov S.
Published: March 2019

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Roadmap for the New Pension Reform
Authors: Gurvich E.
Published: March 2019

The paper suggests measures aimed at raising efficiency and long-term sustainability of the pension system. Pension contribution rate, amount of budget transfer to the pension system, and total size of pension benefits in percent of GDP are found to exceed substantially levels typical for the OECD countries and emerging markets. Our major " bottleneck" is very low by international standards support ratio (i.e. number of contributors to pension fund per pensioner). Increase in the retirement age by 2 years for men and 5 years for women would bring life expectancy at retirement in Russia to the level typical for emerging markets. Provisional gain of the budget from this measure is estimated to vary from 1.4 to 2.3% of GDP. The objective of higher retirement age should be not budget gains but stabilization of replacement rate under forthcoming demographic crisis. Other measures suggested include in particular restoring basic pensions, fixing own sources of funds for each of the pension system tiers, and building barriers for running pension imbalances, and fostering late retirement for working aged.
The Role of the Judicial System for the Development of Competition (The Antitrust Legislation and Its Implementation)
Authors: Kryuchkova P.
Published: March 2019

The article is devoted to the influence of the judicial system on the competition development in Russia. The role of the judicial system in forming acceptable standards of proof in antitrust cases, in decreasing uncertainty in the antitrust law implementation is discussed. The issue of possible increase of the role of antitrust law private enforcement is also discussed. The article argues that the influence of the judicial system on antitrust law implementation and competition is ambiguous. On the one hand, there are some positive effects from decreasing uncertainty in the law implementation, rather high standards of proof in the majority of antitrust cases, really adversary character of the judicial process. On the other hand, the judicial authorities position on some issues, for instance qualification of tacit collusion, has turned for the worse. The serious problem is lowering the standards of proof in some politically committed cases.
How the Russian Metallurgical Industry Has Survived the Crisis
Authors: Gerasimova S.
Published: March 2019

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The Political Economy of Power: Approaches to the Analysis of Relationships between the State and Business in Russia
Authors: Oleinik A.
Published: March 2019

The article deals with the issues of political and economic power as well as their constellation on the market. The theory of public choice and the theory of public contract are confronted with an approach centered on the power triad. If structured in the power triad, interactions among states representatives, businesses with structural advantages and businesses without structural advantages allow capturing administrative rents. The political power of the ruling elites coexists with economic power of certain members of the business community. The situation in the oil and gas industry, the retail trade and the road construction and operation industry in Russia illustrates key moments in the proposed analysis.
Psychology and Economics: Evidence from the Field. Part II: Social Preferences and Nonstandard Beliefs
Authors: DellaVigna S.
Published: March 2019

The second part of a larger work devoted to the modern behavioral economics considers nonstandard preferences that are manifest in altruistic behavior and charitable giving. The author also deals with nonstandard beliefs and shows how overconfidence, incorrect estimation of probabilities and extrapolation of previous experience produce biases in the rational decision-making, including the behavior on financial markets.
Illegality of Tacit Collusion in Russian Antitrust Legislation: Could Economists Be Useful to Generate Legal Rules?
Authors: Avdasheva S.
Published: March 2019

The article is devoted to antitrust policy towards tacit collusion as a form of coordination that restricts competition. Competing approaches to define tacit collusion, i.e. concerted practice and excessive monopoly price as an abuse of dominance, are compared. The evidence that allows to reject the hypothesis on concerted practice as a form of tacit collusion is discussed and compared with the criteria used by Russian antitrust authorities to consider practice as concerted. The standards of proof adopted leave the possibility for type I errors when actions of sellers which had no intention to restrict competition and/or coordinate the prices are qualified as illegal. Moreover, there is a possibility to qualify as illegal the actions that do not comply with the definition of concerted practice in the law "On protection of competition".
Russian Companies in Search of Sustainable Development
Authors: Gurkov I. , Avraamova E.
Published: March 2019

Using the results of a survey of Russian corporate executives in the late 2010 we reveal the relationship between the actions undertaken in 2009-2010 and performance measures. Only sustainable cost leadership strategic position, partially based on intensive use of subcontractors and consultants, secures somehow the immediate future of Russian industrial companies, as such a position results in a positive dynamics of orders backlog. Suggestions for the government economic policies are made.
The Paradox of Small Business Support: Preliminary Outcomes of the Crisis
Authors: Vilensky A.
Published: March 2019

In Russian regions with the greatest support for small and medium-sized businesses, especially in Moscow, small businesses declined much stronger in the basic economic parameters during the crisis than in other regions. The reasons for this lie in unfavorable business climate and corruption. Therefore, the most important area to facilitate development is transformation of the environment of small and medium enterprises, rather than increasing the volumes of budget funds for their support.
Towards New Policy Incentives for Fixed Capital Investment and Technological Upgrades in Russia
Authors: Apokin A.
Published: March 2019

The paper approaches the problem of private fixed capital underinvestment in Russia. The author uses empirical studies of the Russian economy and cases of successful technological modernization to outline several groups of disincentives for private companies to perform fixed capital investment in Russia. To counter these constraints, a certain incentive-based economic policy framework is developed.
Glamour Capitalism: Logic of "Supernova" Economy
Authors: Ivanov D.
Published: March 2019

The article analyzes the most recent tendencies in the development of post-industrial economy. On the base of the virtualization concept this development is considered as a rise of glamour capitalism. Such a system transforms the glamour from the esthetic form and specific life style into the logic of production of goods, organizational design, and financial operations.
On Samuel Bowles Paradigm
Authors: Grebnev L.
Published: March 2019

The paper briefly characterizes the content of S. Bowles advanced textbook in microeconomics and comments on the key themes that constitute the book: on the relationship between uncertainty and optimization, technologies and production function, altruism and self-interest, cooperation and competition. The main attention is paid to the temporal dimension of the economics processes.
The History of Economy and Economic Thought of Russia: A Textbook / G. G. Bogomazov, I. A. Blagikh; Econom. faculty, SPbSU; G. G. Bogomazov (ed.)
Authors: Figurnovskaya N.
Published: March 2019

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Russia in International Capital Movement: Comparative Analysis
Authors: Bulatov A.
Published: March 2019

The article tries to reveal specific features of Russias participation in international capital movement in comparison with other emerging markets. Peculiarities of outflow and inflow of capital in Russia are considered as consequences of specifics of its economic model. Proposals on using international capital movement for the increase of accumulation rate in Russia are put forward.
Social Results of Transformation, or Twenty Years after
Authors: Yasin E. , Andryushchak G. , Ivanter A. , Kosareva N. , Ovcharova L. , Ponomarenko A. , Fadeev V.
Published: March 2019

The article contains generalized calculations of Russian citizens level of prosperity during 1989-2009. Particularly, the authors consider Russian citizens income and expenses change, shifts in physical indicators of consumption (including non-market services) and estimate the availability of housing stock. The authors also try to construct certain level of prosperity index generalizing all those factors. Despite the complexity of intertemporal comparison (during the last 20 years the life has simply become different) the authors come to the conclusion: the living standard of Russian citizens raised (ca. 50%), but because of the increased stratification of the society during this period it has affected not all population strata.
Financial Crisis and the Prospects of Global Regulation
Authors: Tambovtsev V.
Published: March 2019

Challenges in the sphere of financial regulation created by the global crisis of 2008-2009 are discussed. Advantages of the mechanism based on strict liability rules for deterring economic agents negligent behavior on financial markets are validated. The possibilities for applying the mechanism in the sphere of state regulation are analyzed.
Innovative Leasing Financing
Authors: Gazman V.
Published: March 2019

Securitization has an innovative mechanism for effective financing of investment projects. It allows achieving tangible economic results in the renewal and modernization of the capital stock, in an integrated manner combining lending, leasing, factoring, emission of securities. The article submits the scientific definition of «securitization of leasing assets»; the system of inequalities that reflects the economic feasibility of the project taking into account the yield of the participants and allowing to simulate the process of securitization of leasing assets and its pricing; comparison of contract cost of the lease contract and the amount of securitization, which allows investors to improve the quality of risk management; relationship of the duration of the leasing portfolio and the efficiency of securitization. It also analyzes 72 securitization transactions of leasing assets in Italy in 1990-2011 as well as the prospects for the development of innovative financing of leasing in Russia.
Which Capitalism Is Better? (On the Book by D. Daianu "Which Way Goes Capitalism? In Search of Adequate Policies in a Dramatically Changing World")
Authors: Klinov V. , Sidorova E.
Published: March 2019

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State and Denationalization: Risks and Limitations of the "New Privatization Policy"
Authors: Radygin A. , Simachev Yu. , Entov R.
Published: March 2019

The article is devoted to the analysis of theoretical and applied preconditions and restrictions to the accelerated privatization and modernization of present governance model of state property in Russia. The authors consider comparative advantages and risks of the public sector, quantitative dynamics of the 2000s, groups interests as well as offer their vision for the «new privatization policy» frame and prospects.
Abstract Science in America, 1776—1876
Authors: Newcomb S.
Published: March 2019

The paper written by the famous American scientist - astronomer, physicist, and economist S. Newcomb (1835-1909) reviews the development of American science in the 19th century. The author analyzes factors of the poor state of science in the USA and compares institutional and organizational features of science in America and in Europe. He shows that the USA lags behind not because of the lack of intellectual potential (such as low level of education), but due to the lack of interest on the part of society and to the absence of demand for science. It is possible to overcome this indifference if the society realizes the importance of abstract science and enormous practical opportunities stemming from it.
The Reform of Global Currency System and Implementation of Economic Invariant
Authors: Burlachkov V.
Published: March 2019

The article discusses the problems of the functioning of the world monetary system, ensuring its stability and the potential for creating a world currency.
How to Distinguish Cause and Effect? (2011 Nobel Memorial Prize in Economics)
Authors: Zamulin O. , Styrin K.
Published: March 2019

The paper discusses the contribution of 2011 Nobel laureates, Thomas Sargent and Christopher Sims, to economics. It is shown how these two economists proposed to analyze causal relationships in macroeconomics. The common idea of the two laureates is that one should not look for isolated empirical relationships; rather, one should seek theories, which are capable of explaining the observed regularities, and then subject the whole theories to empirical tests. However, the specific methods proposed by the two economists differ. Thus, Sargent proposed to test a specific model; Sims, on the other hand, introduced the method called structural autoregression, in which an econometric model is subjected to a minimal set of theoretical restrictions encompassing a large set of theoretical models. Then the paper discusses applications of this logic to different situations.
Outstanding Economist Developing from the Great Mathematician (to the Centenary of Leonid Kantorovich)
Authors: Makarov V.
Published: March 2019

The article considers the life and creative achievements of the great Soviet scientist academician Leonid Kantorovich, the only Nobel Prize winner in economics in our country. Basic spheres of his scientific interests are noted, the contribution to the world science is assessed. The problems connected with the implementation of optimization methods of planning in the Soviet economy are shown.
St. Petesburg Industry: Evolution and Present Time
Authors: Rybakov F.
Published: March 2019

One can clearly see a few stages in St. Petersburg industrial evolution. Until the end of the 19th century the production was oriented on the needs of the army and the Navy and railroad construction. In the Soviet period Leningrad became the leader of domestic power machine building and radio electronics. The end of the 20th century was marked with a more serious degradation of machine building than in the country in general. In the present the city’s industry is specialized on car assembly and pharmaceutics.
The Analysis of the Impact of Changes in Tax Regimes on Export Profitability of Oil and Main Petroleum Products
Authors: Cherniavsky A.
Published: March 2019

The paper analyzes the impact of changes in tax regimes on comparative export profitability of oil and main petroleum products. It considers the dynamics of export profitability of oil and petroleum products based on the annual data for 2001—2010, the quarterly data for 2011 and through the first quarter of 2012. The paper also examines how the forthcoming changes in tax legislation aimed at increasing the complexity of refining affect the profitability of oil sector exports. The analysis demonstrates that tax measures alone are not sufficient and might even be counterproductive.
Right to contestation, patron-client networks, and corruption
Authors: Orekhovsky P.
Published: March 2019

In the paper the nature of Russian corruption is considered along the lines proposed by D. North, J. Wallis, and B. Weingast. The author considers patron-client networks as basic political and economic actors of the limited access order. The redistributive rent allocated within patron-client networks is not a corruption phenomenon. The main factor that is able to destroy patron-client networks and autonomous centers of power is the right to contestation (liberalization) according to R. Dahl. Realization of that right together with the right to participate in political life enables transition to the open access society.
From Craft to Institution: Accounting in Italy from the Middle ages to the Early Modern Period
Authors: Volkova O.
Published: March 2019

The article describes the evolution of accounting from the simple registration technique to economic and social institution in medieval Italy. We used methods of institutional analysis and historical research. It is shown that the institutionalization of accounting had been completed by the XIV century, when it became a system of codified technical standards, scholar discipline and a professional field. We examine the interrelations of this process with business environment, political, social, economic and cultural factors of Italy by the XII—XVI centuries. Stages of institutionalization are outlined.
The Russian Tax System: A View from the Inside
Authors: Sayfieva S.
Published: March 2019

The article considers the tax potential of the composition of GDP by type of primary incomes in 2000—2010 by main economic activities and branches of industry. The analysis has shown that the components of GDP, which decline (net income), comprise the basis of the tax system; meanwhile the proportion of the components, hardly covered by taxation (hidden salary), or those, which taxation is difficult to control (net mixed income), increases. The author comes to the conclusion that the proportion of the industry tax burden and the share of gross value added in GDP should be balanced. Otherwise, the tax system becomes ineffective. The analysis of the structure of industry tax revenues over time suggests a high differentiation of taxes on economic activities and industries.
Government Failures: Theory and Policy
Authors: Radygin A. , Entov R.
Published: March 2019

The article deals with the evolution of approaches to the problem of “government failures”. This trend of modern economic theory, which has arisen in opposition to the concepts of “market failures” can be seen as a search for a new strategy of political and economic analysis of the resource allocation mechanisms, as well as historical social institutions and their effect on the efficiency of economic processes. Special attention is paid to the problem of information retrieval, ways of funding the state, the impact of rent‑seeking behavior, the role of the political process, negative externalities as a result of the lack of coordination, and of the overall presence of the state in the economy. Interdisciplinary approach to “government failures” takes into account the influence of legal rules and institutions on the nature of allocation of public resources, as illustrated by the examples of modern Russian economy.
Causes and Consequences of the Crisis in the Eurozone
Authors: Butorina O.
Published: March 2019

The author analyzes the crisis in the eurozone payin special attention to the weakness of the European monetary integration, which has caused the economic destabilization. The author points out three pro‑cyclical factors: divergence of the euro‑countries according to inflation and balance of payments; disappearance of the exchange risk and inflow of short‑term capital in the countries, which couldn’t use it effectively because of structural problems; overreaction of capital markets on peripheral countries debt problems and capital outflow following it. In the end the author analyzes measures which could intensify European integration and raise the profile of the supranational level. The author concludes: the model of “soft integration” that allows international intensification between some country‑groups in the EU is more likely in the future. If all proposed anti‑crisis programs are realized, the crisis could be overcome in 2015.
On the Limits of the Unlimited (On the Book "Noneconomic Faces of Economy: Obscure Reciprocal Influence. Scientific and Journalistic Notes by Social Scientists")
Authors: Kleiner G.
Published: March 2019

Modern economic science and its explanatory potential with regard to Russian realities are experiencing an obvious crisis. The search for new solutions - not only in the economic plane, but also in the interdisciplinary aspect - is the subject of reflections by the author of the monograph under review.
Economy and Policy in 2011: Global Crisis and Search for a New Model of Growth
Authors: Mau V.
Published: March 2019

The article reveals two factors which determined social and economic development of Russia in 2011: future elections and the global economic crisis. Relative sustainability of the Russian economy is noted. Still, macroeconomic stability remains fragile. Principal features of the global economic crisis are considered: its structural and systemic character. The specifics of Russian economic policy is analyzed. A new model of growth is proposed that is based on supply-side economics, its key elements are studied. Recent political changes in the Russian society are analyzed as well as their influence on economic dynamics. The necessity of complex modernization in Russia is stressed.
Socio-cultural Formula for Economic Modernization
Authors: Auzan A. , Kelimbetov K.
Published: March 2019

The social-cultural approach to economic modernization processes is studied in the article. It states that the specific country-based modernization formula is required for the successful modernization policy, which takes into consideration the informal rules of the concrete country and is based on the competitive advantages coming from the characteristics of social and cultural capital. This approach, being implemented to study Russia and Kazakhstan cases, allows to make some important conclusions: first, about the connection between long-term macroeconomic trends and features of the informal institutions; second, about the opportunity to define general directions for the modernization policy; third, about the possibility to design concrete normative structures based on specific features of social and cultural capital.
Foreign Economic Relations of Russia: Some Lessons from the Global Crisis
Authors: Obolensky V.
Published: March 2019

The article deals with the influence of the global crisis on the Russian foreign economic relations and their effects on the national economy. The crisis has made it evident that it is necessary to change the character of Russia's participation in the world division of labor. Russian export should rise on the base of development of the manufacturing industry. Also cardinal improvement of the investment climate and certain correction in the rouble exchange rate management are needed.
The Demand for Law on the Part of Elites: "The Effect of the Tram"
Authors: Grigoriev L.
Published: March 2019

The demand for law on the part of the society (business, middle class, civil society) is not sufficient at the transformation stage — the reciprocal demand for law from the power elite is necessary. Modern theory states that in the contrary case the pressure on elites would require more open regime of participation. Strengthening the positions of the power elite in the long-run would require limiting endless redistribution of assets and introducing the common rule for all.
Socio-cultural Resource for Kazakhstan Modernization
Authors: Stavinskaya A. , Nikishina E.
Published: March 2019

The opportunities of the competitive advantages use of the social and cultural capital for pro-modernization institutional reforms in Kazakhstan are considered in the article. Based on a number of sociological surveys national-specific features of the cultural capital are marked, which can encourage the country's social and economic development: bonding social capital, propensity for taking executive positions (not ordinary), mobility and adaptability (characteristic for nomad cultures), high value of education. The analysis shows the resources of the productive use of these socio-cultural features.
Russian Financial Development Institutions: Are We on the Right Way?
Authors: Simachev Y. , Kuzyk M. , Ivanov D.
Published: March 2019

The paper considers the main stages in the evolution of the Russian financial development institutions in the last decade and a half, models and conditions for their activities, the main results. The authors analyze features of the current development institutions system as a whole, its key changes and main trends. Particular attention is paid to the study of internal imbalances in the development institutions system, as well as external constraints to improve its effectiveness.
The Systemic Effects of Prudential Regulation Toughening:The Results of a Stress-test for Russian Banks
Authors: Mamonov M. , Pestova A. , Solntsev O.
Published: March 2019

The stability of Russian banking sector is threatened by three negative tendencies - overheating of the credit market, significant decrease of banks capital adequacy ratios, and growing problems associated with banks lending to affiliated non-financial corporations. The co-existence of these processes reflects the crisis of the model of private investments in Russian banking sector, which was observed during the last 20 years. This paper analyzes the measures of the Bank of Russia undertaken to maintain the stability of the banking sector using the methodology of credit risk stress-testing. Based on this methodology we conclude that the Bank of Russias actions can prevent the overheating of the credit market, but they can also lead to undesirable effects: further expansion of the government ownership in Russian banking sector and substitution of domestic credit supply by cross-border corporate borrowings. The later weakens the competitive positions of Russian banks. We propose a set of measures to harmonize the prudential regulation of banks. Our suggestions rely on design and further implementation of the programs aimed at developing new markets for financial services provided by Russian banks to their corporate and retail customers. The estimated effects of proposed policy measures are both the increase in profitability and capitalization of Russian banks and the decrease of banks demand for government support.
International Antitrust: Demand, Restrictionsand Lessons for Customs Union
Authors: Avdasheva S. , Shastitko A.
Published: March 2019

Enforcement of antitrust rules on the international level, on the one hand, is necessary to deter restriction of competition by the largest market participants, on the other - it suffers from the contradictions between incentives of national players. That is why international competition policy is based on institutional alternatives which look very imperfect. Harmonization of competition rules seems to be a good alternative only at first glance, since transplantation of antitrust provisions in different legal systems with different standards of proofs and different enforcement practices de facto leads to modification of the rule. Effective competition policy at the level of Customs Union requires to take into account all these limitations and risks.
Retirement Age and Life Expectancyin the Russian Federation
Authors: Vishnevsky A. , Vasin S. A. , Ramonov A.
Published: March 2019

Retirement age reform in the Russian Federation is widely discussed in recent Russian economic literature. This literature mainly focuses on economic justification of increasing retirement age, less often considers demographic issues. The latter that according to economists point of view provide additional arguments for this reform are critically considered in the article. As indicated in it, none of these issues (population ageing, life expectancy growth, health of the elderly) nowadays provide empirical grounds for making decisions on changes in retirement age. On the contrary, modern demographic processes in Russia give arguments against this reform.
The Mystery of Catch-up Development
Authors: Evstigneeva L. , Evstigneev R.
Published: March 2019

The paper takes notice of an ever growing inadequacy of the aims and outcomes of catch-up development. Contrary to the widespread approach to catch-up policy as following up the path passed by the developed countries, the authors consider catch-up development as an immanent feature of the global rather than domestic market. Arguing this standpoint they analyze some modern catch-up theories and other corresponding issues including synergetic model of growth. The latter assumes that all economic actors, from the state and to an individual, act as creative partners and competitors on the national and global levels. Thus they obtain the equal prospects for success.
The Role of Technological Change in the Long-run Global Economy Forecasting
Authors: Apokin A.
Published: March 2019

The author compares several quantitative and qualitative approaches to forecasting to find appropriate methods to incorporate technological change in long-range forecasts of the world economy. A?number of long-run forecasts (with horizons over 10 years) for the world economy and national economies is reviewed to outline advantages and drawbacks for different ways to account for technological change. Various approaches based on their sensitivity to data quality and robustness to model misspecifications are compared and recommendations are offered on the choice of appropriate technique in long-run forecasts of the world economy in the presence of technological change.
The Experience of Industrialization under NEPand Its Application in the Current Conditions
Authors: Goland Y.
Published: March 2019

The article refutes popular belief about the necessity to abolish the New Economic Policy (NEP) of the 1920s for the purpose of industrialization. It is shown that it started successfully under NEP although due to a number of reasons the efficiency of the investments was low. The abolishment of NEP was caused not by the necessity to accelerate the industrialization but by the wrong policy towards the agriculture that stopped the development of farms. The article analyzes the discussion about possible rates of the domestic capital formation. In the course of this discussion, the sensible approach to finding the optimal size of investments depending on their efficiency was offered. This approach is still relevant today.
Russian Professional Associations: Sleeping beauties, Guardians of Stability or Facilitators of Societal Development?
Authors: Ivanova E.
Published: March 2019

The relationships between state, business and society in contemporary Russia are illustrated drawing on the example of the Russian professional associations. The empirical evidence for the present study has been collected by expert interviews and a survey of the executives of the membership-based professional associations conducted by the author in 2011—2013. In the present work the particularities of the Russian context, which shaped formation of these organizations have been outlined, the key functions that professional associations fulfil have been identified and the typology of this kind of nonprofit organizations has been proposed.
Human Approach To Human Capital(On the Book by n. m. Pliskevich “Human Capital in Transforming Russia”)
Authors: Koval T.
Published: March 2019

The article analyzes the results of investigation of human capital. The validity of broad approach to assessment of human capital using qualitative methods is shown. In the framework of this approach it is necessary to take into account the influence that the results of revolutionary breaks of socio-cultural fabric of society produce on human capital as well as the impact of its inner institutional structure, first of all the system of “power-ownership” (or “natural state” according to D. North).
Agency Work in Russia: To Be or Not To Be? (Experience of Russian Enterprises)
Authors: Smirnykh L.
Published: March 2019

The paper reviews the development of temporary agency work in Russia using data from Russian companies in 2008—2011. The results indicate that the number of Russian firms with agency workers has increased while the share of agency workers declined in the period analyzed. Using a probit model the author investigates why firms use temporary agency work. The results of our study demonstrate that the use of agency work is characteristic mainly for small firms. Important factors for firms are also their technical state and financial position, investment in the own development, relation to particular sectors and investment in specific human capital.
On intensification of Russian agriculture
Authors: Buzdalov I.
Published: March 2019

In the article, the crisis state of agrarian sector of Russia, its reasons and crucial role in its overcoming of implementing consecutive intensification of agriculture are considered. The lag in scientific development of methodological and applied aspects of intensification is noted. Foreign experience in this area, practice of using factors of intensification during the Soviet and modern periods of development of agriculture are analyzed. A special role of the state in promoting intensification of agricultural production is shown. Measures for increasing the level and economic efficiency of intensification of Russian agriculture are grounded.
Competition, innovation and Strategy: Empirical Evidence from Russian Enterprises
Authors: Kuznetsova T. , Roud V.
Published: March 2019

Статья посвящена оценке роли инноваций в конкурентной стратегии российских компаний. На материале обследования более 1000 предприятий показано, что нововведения, как правило, не рассматриваются как приоритет предпринимательства, что снижает конкурентоспособность предприятий на внутреннем и внешнем рынках. Проанализированы особенности инновационных стратегий в разных секторах экономики, обсуждаются причины неэффективности инновационных систем российских предприятий.
Inventory Management in Russian Economy: Crisis and Post-crisis Adjustment
Authors: Zamaraev B. , Nazarova A.
Published: March 2019

The article considers the stock changes and their relationship to changes in economic activity. Comprehensive statistical analysis covers accounting data, which are compiled on a quarterly basis, in relation with annual data of the system of national accounts. Methodological approaches to using composite leading indexes of economic activity to forecast future changes in inventories and explain turning points in their trend are examined. The article analyzes changes in inventory for 2005—2011 (in general and for different types of inventory) in the context of such approaches. It also presents international comparisons of inventory levels.
Russian social inequality as a factor of socio-political stability
Authors: Gontmakher E.
Published: March 2019

The article analyzes Russian social inequality on the basis of data of domestic and international statistics and expert assessments. It introduces the terms “negative” and “positive” socio-political stability, exploring the relationship of present social inequalities with each of these types of stability. The author concludes that in the current situation the country’s development is on the way of “negative” stability, which creates serious risks of Russia’s entering an open socio-political crisis. The possibilities of avoiding the unfavorable scenario are discussed.