bluuebunny/crossref_metadata_2025 huggingface dataset:
Phelps’ Lessons for Russia and for the World Economy (2006 Nobel Prize in Economics)
Authors: Zamulin O.
Published: March 2019

The author describes the contribution to economic theory made by E. Phelps, the 2006 Nobel prize winner in economics. Phelps is one of those scientists, who studied the reasons, why the attempt to use Phillips curve for the purposes of monetary policy in the 1970s failed. He also became one of the founders of the New Keynesian theory of the Phillips curve. This theory helps to better understand the principles of monetary policy in the developed countries as well as in today’s Russia.
Inflation: Recent Trends in Russia and in the World
Authors: Kudrin A.
Published: March 2019

The article considers theoretical and methodological reasons for maintaining the consistently low rate of inflation. Basing upon the results of empirical research, monetary policy in Russia is analyzed for 1992-2007. The author estimates the influence of monetary and non-monetary factors on inflation in the given period. The measures of anti-inflationary policy in the world are generalized and the policy prescriptions for Russia are introduced.
Afanasiev Mst. P., Krivogov I. V. Modernization of Public Finance: Teaching Aid
Authors: Mau V.
Published: March 2019

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The Specifics of Expert Knowledge in Russia (The Case of Forming Russian Foresight)
Authors: Koshovets O.
Published: March 2019

The article investigates the processes of capitalization and ideologization of economic science as preconditions of establishment and reproduction of expert knowledge. The author considers some basic problems of economic expert community functioning in Russia and its relationships with fundamental theoretical economic science, including as an example the technology of Foresight (based on the collection and analysis of expert judgments) which is very popular in contemporary forecasting research in Russia.
Capital Market Resources as the Financial Source of Real Sector
Authors: Dvoretskaya A.
Published: March 2019

The article considers capital market as a uniform institutional segment of national economy which provides funds for real sector. Special attention is paid to resources of stock market - shared and debt financial instruments. The analysis of national and global capital markets contribution to financing the corporate sector is presented. The paper outlines real competition between banking system and stock market according to capital recipients’ standpoint. The interaction mechanisms between banking and stock market sectors for effective economic growth are described.
The Prospects of Development of the Domestic Automotive Industry (The Case of “AvtoVAZ”)
Authors: Ilyashenko V.
Published: March 2019

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The World Economy: Forecast to the Year 2020 / Ed. by Acad. A. A. Dynkin
Authors: Goryunov I.
Published: March 2019

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Prospects of the Theory of Prospects
Authors: Pyastolov S.
Published: March 2019

The article offers a version of further development of the prospects theory fundamentals in the aspect of institutional forms creation and development model. D. Kahneman and A. Tverski’s "dimensionality of decisions and judgements" is taken as the starting point of institutional dimension formation. The ontological vector is added to the cognitive one in order to form the space. The mental and physical dichotomy is considered within the Helical Institutional Development Scheme framework.
Interval Perception of Information and Consumer Behavior: Methodological Aspects
Authors: Davydov D.
Published: March 2019

The article stresses the difference between objective presence and subjective perception of information by economic agents. The author considers some psycho-physiological aspects of information perception which are directly connected with the processes of economic decision-making. The article also discusses theoretical problems of modeling the perception of information about prices and quantities of goods and services on the part of consumers. Interval approach for uncertainty description is offered, the general consumer choice problem in case of interval uncertainty is formulated, and some practical issues in market price formation, the role of savings and macroeconomic equilibrium are discussed.
On Factors of Housing Prices Dynamics
Authors: Mints V.
Published: March 2019

The article analyzes the mechanisms, which influence housing prices dynamics in Russia. The relations between the national mortgage system and peculiarities of housing development procedures on the one hand and demand for investment in housing on the other hand are studied.
Marxist Approach versus Marxist Concepts (G. Plekhanov’s «Political Testament»)
Authors: Popov G.
Published: March 2019

In his "Testament" G. Plekhanov basing on the Marxist methodology came to the conclusion that capitalism was inevitable in Russia and that Russia as well as the rest of the world was not ready for socialism. Reflecting on possible prospects of Soviet Power, he demonstrated assurance in its collapse in the short- or long-term period. His ideas about the key role of intelligentsia in social development sound very urgent now.
Social Justice in Economic Relations: Institutional Aspects
Authors: Petrosyan D.
Published: March 2019

Institutional approach to solving the problem of social justice in economic relations is formulated, including its presentation as social and economic institution. Specific features of transplantation of the said institution norms in the Russian economy are shown, the designing institutional model as a tool of promoting social justice in economic relations is offered, basic elements of the institutional mechanism of its assurance are determined.
Fast Growing Firms ("Gazelles") and the Evolution of Russian Economy
Authors: Yudanov A.
Published: March 2019

The article is based on the empirical study of fast growing firms ("Gazelles") in Russia. Sales volumes of many such firms are growing in accordance with the precise exponential trend with surprisingly high quality of approximation. The author finds strong links between this phenomenon and the concentration of most of "Gazelles" in market niches where demand limitations are practically non-existent. Conscious, purposeful entrepreneurial search of free niches becomes under described conditions an important addition to the classic mechanism of evolution of the economy through the natural selection of random changes. The author’s approach to these processes is based on a modification of the well known Lotka-Volterra model.
The Cost of China`s Economic Success
Authors: Gelbras V.
Published: March 2019

China has achieved great results in economic growth. But the country has had to pay a high price for them. Slowing dynamics of the domestic market, growing gap in the social and economic development of regions, impoverishment of its rural population are a small number of existing problems caused by China’s attempts to catch up with the world leader - the USA.
Russia's Tax System: Is It Possible to Correct Existing Draw-backs?
Authors: Shvetsov Yu.
Published: March 2019

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Methodological Principles of Keynes’ Theory and His «Strife over Method» with Tinbergen
Authors: Rozmainsky I.
Published: March 2019

The author analyzes Keynes-Tinbergen controversy in the context of Keynes’ methodological ideas, which he thinks are fully opposite to the methodology of modern economic theory. Using different Keynes’ papers the author considers this difference in detail and shows its links to the critical view held by Keynes towards econometrics
Professor Tinbergen’s Method
Authors: Keynes J. M.
Published: March 2019

The article written by the classic of economic science in 1939, which is published in Russian for the first time, contains a critique of the application of econometric methods in economics. The object of criticism is one of the first large-scale econometric studies - the book by J. Tinbergen on business cycles. Keynes points at the arbitrariness of many econometric judgments, at the problems of causality and forecast in econometrics. He also mentions that a lot of economic problems cannot be analyzed by means of econometric technique.
Mergers and Acquisitions Financing: The Russian Case
Authors: Kasparova I.
Published: March 2019

The article considers the financial tools of corporate control transfers and mergers and acquisitions financing forms. In western countries tax and informative factors are more important, but in the Russian business market lack of development of the stock market and low cost of securities of Russian companies play the main role. The analysis has shown that in Russia the monetary form of M&A financing dominates over other financing forms (90% of reviewed cases), still there are individual cases of M&A financing by buying company’s shares (10% of reviewed cases).
Shock Therapy versus Gradualism: 15 Years Later
Authors: Popov V.
Published: March 2019

This paper starts by separating the transformational recession from the process of economic growth (recovery from the transformational recession) in 28 transition economies (including China, Vietnam and Mongolia). It is argued that the collapse of output during transition can be best explained as adverse supply shock caused mostly by two factors: change in relative prices after their deregulation due to distortions in industrial structure and trade patterns accumulated during the period of central planning; collapse of state institutions during transition period that worsened the investment climate. The speed of liberalization, to the extent it was endogenous, i.e. determined by political economy factors, had an adverse effect on performance as the 2SLS estimates suggest. In contrast, at the recovery stage the ongoing liberalization starts to affect growth positively, whereas the impact of pre-transition distortions disappears. Institutional capacity and reasonable macroeconomic policy, however, continue to be important prerequisites for successful performance.
On Optimization of the Russian Economic Space
Authors: Belenky V. , Kulakova N. , Samoilova N.
Published: March 2019

The article is devoted to the problem of optimization of economic space in Russia on the basis of coordinating transformation actions at the local level. Positive experience of solving the given problem is generalized, drawbacks in realization of corresponding transformations are presented as well. Conceptual positions and specific proposals aimed at the increase of their efficiency are formulated.
The Analysis of Competences of Russian Higher Education Institutions Graduates
Authors: Bydanova E.
Published: March 2019

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Mechanisms of Resource Curse and Economic Policy
Authors: Polterovich V. , Popov V. , Tonis A.
Published: March 2019

This paper compares various mechanisms of resource curse leading to a potentially inefficient use of resources; it is demonstrated that each of these mechanisms is associated with market imperfections and can be "corrected" with appropriate government policies. Empirical evidence seems to suggest that resource abundant countries have on average lower budget deficits and inflation, and higher foreign exchange reserves. Besides, lower domestic fuel prices that are typical for resource rich countries have a positive effect on long-term growth even though they are associated with losses resulting from higher energy consumption. On top of that resource abundance allows to reduce income inequalities. So, on the one hand, resource wealth turns out to be conducive to growth, especially in countries with strong institutions. However, on the other hand, resource abundance leads to corruption of institutions and to overvalued real exchange rates. On balance, there is no solid evidence that resource abundant countries grow more slowly than the others, but there is evidence that they grow more slowly than could have grown with the right policies and institutions.
Economic Behavior of Wood Sector Enterprises of Karelia Republic under Conditions of Market Transformations
Authors: Kozyreva G.
Published: March 2019

The article presents the analysis of economic behavior of wood sector enterprises of Karelia Republic during transition to market. Findings show that the absence of adequate institutional conditions has set many enterprises on the brink of survival. The influence of formal institutions is essentially leveled by inefficient informal actions. Examples of positive changes testify not so much that the formation of effective institutions is taking place, as about the degree of adaptation of successful enterprises while using all favorable external factors. The analysis is based on data of long-term economic and sociological surveys of Karelia forest territories.
Glinkina S. P. Privatization: Concepts, Realization, Efficiency
Authors: Evstigneev R.
Published: March 2019

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Monetary Policy Problems under Capital Inflow to Russia
Authors: Ulyukaev A. , Kulikov M.
Published: March 2019

Russian macroeconomic tendencies of the past decade are described in the article. It is particularly mentioned that until recently foreign trade surplus was the main source of liquidity for the Russian economy. Since mid 2005 a noticeable foreign private capital inflow has started, creating a new liquidity source. A significant capital inflow may result in additional inflation and / or additional ruble appreciation while currently used monetary policy instruments appear to be ineffective in this situation. The description of the set of measures to soften negative impact of the capital inflow is also presented.
Thorstein Veblen: A View from the 21st Century
Authors: Nureev R.
Published: March 2019

The article provides a description of T. Veblen’s views, showing his place in the history of economic thought. The author analyzes the context of Veblen’s life and work and considers different aspects of his theoretical legacy. Special attention is paid to the discussion of Veblen’s role in the development of institutional economics. The author describes in detail the main trends in the development of institutionalism after Veblen.
The Limitations of Marginal Utility
Authors: Veblen T.
Published: March 2019

The article written by the founder of institutionalism and published in 1909 is translated into Russian for the first time. Veblen criticizes different versions of neoclassical theories of production and consumption, trying to consider human behavior in the wide cultural context. He suggests a methodological alternative to neoclassical theory, rebutting teleological explanations of neoclassics and emphasizing causal relations. Moreover Veblen formulates a theoretical alternative: he develops a theory of institutional evolution and describes how habits, customary modes of thought and conventional judgments influence behavior of businessmen and how the analysis of their scheme of life can contribute to deeper understanding of their economic activity.
Russian Energy Sector: Inertia Strategy or Efficiency Strategy?
Authors: Bashmakov I.
Published: March 2019

The paper presents a vision of Russian energy future before 2020. The scenario approach is required to identify potential energy supply and demand future trajectories for Russia facing uncertainties of both global energy system evolution and domestic demographic and economic development in 2007-2020. It allows for assessing energy demand by sectors under different investment, technological and energy pricing policies favoring the least cost balancing of energy supply options and energy efficiency improvements to sustain dynamic economic growth. The given approach provides grounds for evaluation of different energy policies effectiveness. Three scenarios - "Inertia Strategy", "Energy Centrism", and "Efficiency Strategy - Four I" - integral-innovative-intellectual-individual oriented energy systems - are considered in the paper. It shows that ignorance of the last scenario escalates either energy shortages in the country or Russian economy overloading with energy supply investments both preventing from sustaining rates of economic growth which have recently been demonstrated by Russia.
Series "The Anthology of Economic Throught"
Authors: Klyukin P.
Published: March 2019

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Libman A. M., Kheyfets B. A. Russian Capital Expansion to the CIS Countries
Authors: Bautina N.
Published: March 2019

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On Regulation of Temporary Labor Migration
Authors: Gevorkyan A.
Published: March 2019

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The Necessity and Ways of Legitimation of Large-scale Private Property in Russia: Raising a Problem
Authors: Yavlinsky G.
Published: March 2019

Results of privatization campaign in 1990’s continue to meet strong opposition from a very considerable part of Russian people and authorities actually refuse to consider the rights of private owners legitimate and not subject to violation. One of the reasons for this, besides historical tradition, is a specific nature of Russian privatization of 1990’s. The article brings to discussion a set of measures aimed at overcoming its negative consequences. While insisting on the need to honor all previous government obligations and commitments, the paper proposes a one-time special tax (windfall tax) to be levied on those who benefited most from privatization deals that were not just and fair, and special rules to be set for the use and sale of economic assets of national importance. The author also considers possible ways to legitimize private property, as well as chances to achieve а broad public consensus on this issue in Russia.
The Essence of Discussions on Present Changes in Economic Science (On the Book “Sources: From the Experience of Studying Economy as a Structure and Process”)
Authors: Moskovsky A.
Published: March 2019

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Asian Godfathers (On the Book by J. Studwell “Asian Godfathers. Money and Power in Hong Kong and South-East Asia”)
Authors: Suetin A.
Published: March 2019

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Directions and Perspectives of Political-Economic Studies
Authors: Libman A.
Published: March 2019

The paper surveys the main directions of political-economic research, i.e. variants of economic and political approaches endogenizing political processes in economic models and applying economic methods to policy studies. It analyses different versions of political-economic research in different segments of scientific community: political economics, evolutionary theory of economic policy, international political economy, formal political science and theory of economic power; main methodological assumptions, content and results of positive studies are described. The author also considers the role of political-economic approach in the normative research in economics.
Coalition for Modernization: Possibility of Genesis
Authors: Auzan A. , Zolotov A.
Published: March 2019

Different ways of genesis of broad coalitions for modernization are considered in the article. The authors apply three-level approach to deal with interests groups: analytical (most aggregate), statistical and real, and examine the possibility of the coalition for modernization at the level of analytical ones. On the basis of the conducted research suggestions are made about further studies of the said coalition genesis opportunities and means of increasing its stability.
Perspectives and Regulation of the Russian Market for Project-based Transactions under the Kyoto Protocol
Authors: Zavodov K.
Published: March 2019

Project-based transactions (PBTs) are a market mechanism of attracting foreign investments in order to abate greenhouse gas emissions and increase energy efficiency of the country’s enterprises. The article provides a classification and analyzes advantages and drawbacks of PBTs from the point of view of a host country. The main trends and factors determining the dynamics of the PBT market are described. Given that Russia currently lags behind the leaders of the PBT market, an incorporation of a state carbon fund is put forward with an aim of channelling PBTs through it. This paper proposes a form of PBT market regulation by incorporating an option mechanism into the contract structure of a transaction. A comparison of the new form of regulation with the tools that are currently in use in Russia and other countries demonstrates its greater economic efficiency under uncertainty.
Engine of the Russian Economy
Authors: Sementsov S. , Murzina A. , Gorban A. , Turigina O.
Published: March 2019

The article provides the view on rates of growth in different sectors of the Russian economy based on observations of dynamics of KPMG activity in Russia and statistics on mergers - acquisitions. The authors show the correlation between these indicators and suggest their own version of what is the underlying logic behind the development of a competitive sector in the Russian economy and the future growth of this sector. Special attention is paid to the approach used to assess its dynamics and trends, broken down by industry and region.
Genesis of Currency Areas: Retrospective Analysis
Authors: Valiullin H.
Published: March 2019

The article presents a retrospective analysis of modern currency areas’ historical prototypes that have existed since the Ancient times. The analysis allows reveal some objective reasons of those prototypes’ genesis and common features of their functioning. The results of research confirm that this evolution had primarily economic origins and reveal both the increasing complexity of currency unit and the enhancing territorial scale of currency areas.
Rubinstein A. Ya. Economics of Public Preferences
Authors: Deryabina M.
Published: March 2019

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Crisis-2008: Time to Set a Diagnosis
Authors: Aleksashenko S.
Published: March 2019

The financial crisis emerging nowadays demonstrates the real level of financial globalization. It would be strange if the Russian economy remained "safe haven" in the current environment. But could one blame the United States saying that the Russian crisis is induced only or it has own origins? It seems that the American crisis has been just a trigger while the Russian economy has its inner diseases. That’s why one cannot hope to maintain the existing model of economic growth while any attempts in this direction will aggravate the situation even more.
Buzdalov I. N. Selected Works: In 3 Vols.
Authors: Krylatyh E.
Published: March 2019

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Law and Economics: Origins and Development
Authors: Balsevich A.
Published: March 2019

The article analyzes the main stages of establishment and development of Law and Economics. The history of the discipline has had a considerable impact on its current state: today Law and Economics comprises different schools and approaches. On the one hand, the competition of approaches within the single discipline has broadened its scope, but on the other hand, it has intensified contradictions between the approaches and complicated the choice of methodological framework for the analysis. The differences between various approaches are explained basing on the example of the economic analysis of contract law.
How to Modernize State Machinery: Administrative Reform and Reform of Public Service
Authors: Plaksin S. , Zhoulin A.
Published: March 2019

The article contains an analytical survey of key reforms in public administration in Russia: administrative reform and reform of public service. All reform tools are analyzed from the point of view of "technological" approach, encouragement of public institutions development and traditional for Russia way of control of heads and authorities of executive bodies. Perspectives and success of reforms are examined through four strategies: "Inertia", "Mobilization", "Rentier" and "Modernization".
Intermediaries between Private Sector and the Government: Helping Business or Participating in Corruption?
Authors: Polishchuk L. , Shchetinin O. , Shestoperov O.
Published: March 2019

The paper explores economic implications of the presence of intermediaries assisting private individuals and firms in meeting government rules and regulations. Conventional advantages of intermediaries include gains due to specialization and the economy of scale; however if government service is affected by corruption, intermediaries in addition allow to reduce "transaction costs" of corrupt agreements and in particular - the risks of exposure of such illicit dealings. It is shown that in such circumstances intermediaries benefit corrupt bureaucracy, possibly at the expense of the private sector. Results of surveys conducted in recent years are used in describing the present state and trends in the intermediaries sector in Russia, and evidence is presented that some intermediaries indeed resort to corruption in serving their clients. The link between the intermediaries sector dynamics and deregulation and administrative reform is analyzed.
Budgeting in Socio-economic Development Strategies (Raising a Problem)
Authors: Shastitko A. , Ovchinnikov M.
Published: March 2019

The article proposes an approach to the analysis of social change and contributes to the clarification of concepts of economic policy. It deals in particular with the notion of "change of system". The author considers positive and normative aspects of the analysis of capitalist and socialist systems. The necessary and sufficient conditions for the system to be changed are introduced, their fulfillment is discussed drawing upon the historical and statistical data. The article describes both economic and political peculiarities of the transitional period in different countries, especially in Eastern Europe.
On Economic Development and Other Issues in the Context of Future Achievements in Science and Technology
Authors: Makarov V.
Published: March 2019

The appeals to minimize state intervention in the Russian economy are counterproductive. However the excessive involvement of the state is fraught with the threat of building nomenclature capitalism. That is the main idea of the series of articles by prominent representatives of Russian economic thought who formulate their position on key elements of the long-term strategy of Russia’s development. The articles deal with such important issues as Russia’s economic policy, transition to knowledge-based economy, basic directions of monetary and structural policies, strengthening of property rights, development of human potential, foreign economic priorities of our state.
Russian Banking Sector under World Financial Market Uncertainty: Problems and Prospects
Authors: Ulyukaev A. , Danilova E.
Published: March 2019

The authors point out that the local market crisis - on the USA substandard loan market - has led to the uncertainty of the world financial market. It has caused the growing demand for liquidity in the framework of the world financial system. The Russian banking sector seems to be more stable under negative changes than banking systems of other emerging markets. At the same time one can assume that the crisis will become the factor of qualitative shift in the character of the Russian banking sector development - the shift from impetuous to more balanced growth.
From Freezing to Investing: New Approaches to Monetary and Currency Policies
Authors: Nekipelov A. , Goland Yu.
Published: March 2019

The appeals to minimize state intervention in the Russian economy are counterproductive. However the excessive involvement of the state is fraught with the threat of building nomenclature capitalism. That is the main idea of the series of articles by prominent representatives of Russian economic thought who formulate their position on key elements of the long-term strategy of Russia’s development. The articles deal with such important issues as Russia’s economic policy, transition to knowledge-based economy, basic directions of monetary and structural policies, strengthening of property rights, development of human potential, foreign economic priorities of our state.
Russian Structural Policy: Between Inevitability and Uncertainty
Authors: Grinberg R.
Published: March 2019

The appeals to minimize state intervention in the Russian economy are counterproductive. However the excessive involvement of the state is fraught with the threat of building nomenclature capitalism. That is the main idea of the series of articles by prominent representatives of Russian economic thought who formulate their position on key elements of the long-term strategy of Russia’s development. The articles deal with such important issues as Russia’s economic policy, transition to knowledge-based economy, basic directions of monetary and structural policies, strengthening of property rights, development of human potential, foreign economic priorities of our state.
Property Rights Strengthening: Transformation without Destruction
Authors: Petrakov N.
Published: March 2019

The appeals to minimize state intervention in the Russian economy are counterproductive. However the excessive involvement of the state is fraught with the threat of building nomenclature capitalism. That is the main idea of the series of articles by prominent representatives of Russian economic thought who formulate their position on key elements of the long-term strategy of Russia’s development. The articles deal with such important issues as Russia’s economic policy, transition to knowledge-based economy, basic directions of monetary and structural policies, strengthening of property rights, development of human potential, foreign economic priorities of our state.
The Strategy of “Social Imperative”
Authors: Rubinstein A.
Published: March 2019

The appeals to minimize state intervention in the Russian economy are counterproductive. However the excessive involvement of the state is fraught with the threat of building nomenclature capitalism. That is the main idea of the series of articles by prominent representatives of Russian economic thought who formulate their position on key elements of the long-term strategy of Russia’s development. The articles deal with such important issues as Russia’s economic policy, transition to knowledge-based economy, basic directions of monetary and structural policies, strengthening of property rights, development of human potential, foreign economic priorities of our state.
Economics of the Resource Curse
Authors: Guriev S. , Sonin K.
Published: March 2019

The paper surveys economic and political science literature on resource curse, with a primary focus on the role of institutions. These studies show that resource abundance leads now not so much to macroeconomic risks of Dutch disease as to possible deterioration of the quality of government and political institutions. In particular, cross-country evidence on the impact of rising oil prices on media freedom and quality of corporate governance is discussed.
Interviewing Oneself (On the Book by Janos Kornai “By the Strength of Thought. Nonordinary Reсollections about One Intellectual Journey”)
Authors: Polterovich V.
Published: March 2019

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Wages in Russia: Evolution and Differentiation / Ed. by V. E. Gimpelson, R. I. Kapelyushnikov
Authors: Yudaeva K.
Published: March 2019

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China and Russia: Socio-economic Transformation / Ed. by L. V. Nikiforov, T. E. Kuznetsova, M. B. Guseva
Authors: Kondrashova L.
Published: March 2019

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World Economy: Forecast for the Year 2050
Authors: Klinov V.
Published: March 2019

Forecasting long-term trends in the world economy is a necessary element of elaborating a strategy of economic development. The forecast for 2025 and 2050 has been worked out using concepts of Kondratieff long waves, catching-up pathways of development as well as modern trends in demographic processes. The estimates of changes in the geographic structure of the world economy, so derived, are compared with forecasts based on extrapolation of trends in the last 30 years of the 20th century, made up by prominent think tanks. The formation of the multi-center structure of the world economy and probable emergence of Russia as one of the global powers may imply that worldwide cooperation in securing supply of natural resources and protecting the environment will become a crucial problem of international relations.
Looking for a Job as a Constituent of Labor Behavior (Based on the Results of the Survey Conducted in the UFD)
Authors: Koulkova I.
Published: March 2019

The article presents the results of socio-economic study which considers the problems of labor behavior of persons, who are looking for jobs, conducted in the Ural Federal District. They include not only the unemployed, but also other categories of the population. The use of various ways of looking for a job depending on socio-demographic characteristics of subjects of labor behavior is studied. The reasons and efficiency of their use are revealed.
The Return of Scientific Heritage: Socio-Economic Thought of Russian Emigration
Authors: Kouznetsova T.
Published: March 2019

The article presents the analysis of works by three prominent representatives of Russian social thought, who had to leave the country in the beginning of the Soviet era and kept working abroad - A. D. Bilimovich, S. S. Maslov and N. S. Timasheff. The author shows that despite the lack of information they managed to work fruitfully in such fields as economic theory, applied economic analysis (especially in agricultural issues) and sociology. The ideas of these scientists concerning ways of Russia’s historical development, Soviet economic policy etc. are of vital importance till nowadays.
Ontology of Orthodox Economics: Problems of Construction and Interpretation
Authors: Boldyrev I.
Published: March 2019

The article justifies the definition of economic ontology (ontology of economics) as a study of the most general features, categories and structure which belong to reality described in economic models. The author distinguishes ontology of science from ontology of economic life (the latter often functions as a substitute for science) and points out that ontology plays a significant role in resolving theoretical debates and in making clear philosophical presuppositions of economic theory. In the case of orthodox theory mathematics and mathematical structures are suggested as formal ontology.
Strategy of Integration Processes in Science and Education
Authors: Gokhberg L. , Kitova G. , Kuznetsova T.
Published: March 2019

The paper provides an overview of trends in the development of institutional infrastructures of R&D and higher education sectors in Russia with particular emphasis on the integration between respective activities. Major legal conditions are described against the background of socio-economic transformations. Key effects of recently adopted legislation are critically reviewed vis-а-vis prospective objectives of S&T and education policies.
The Impact of the Balassa-Samuelson Effect on the Real Ruble Exchange Rate: The Assessment
Authors: Gurvich E. , Sokolov V. , Ulyukaev A.
Published: March 2019

The article presents an empirical investigation of the impact of the Balassa-Samuelson effect on the real ruble appreciation in 1999-2007. We consider long-run, supply-side determinants of the real ruble exchange rate, such as changes in terms of trade and labor productivity. Using Russian and German data on price and productivity differentials between tradable and non-tradable sectors of the two economies, we estimate the significance of oil price shocks and the Balassa-Samuelson effect for the real ruble appreciation. Our study demonstrates that, on average, about 1/3 of the observed appreciation can be attributed to the Balassa-Samuelson effect. The cointegrating relationship between the productivity differential and the real exchange rate provides evidence of the healthy nature of the economic growth, which took place in Russia during the time period under investigation. These findings suggest that exchange rate adjustments should be used by the Central Bank of Russia mainly as a monetary policy instrument for fighting inflation rather than as a tool for competitive devaluations.
An Oda to Original Enterprise (On the Book by T. Ferris “The 4 - Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich”)
Authors: Suetin A.
Published: March 2019

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On Practical Validity of Quantity Theory of Money, or How Much the Dogmatism of Monetary Authorities Costs
Authors: Glazyev S.
Published: March 2019

The article critically considers basic postulates of quantity theory of money. It shows that they reflect the static state of the economy in abstract models of market equilibrium but do not prove true in actual economic processes. In contrast to monetarists’ view, prices can rise as well as fall even if other variables of the monetarist equation are stable. Thus it cannot be used for grounding monetary policy. The author comes to the conclusion on the dogmatism of Russian monetary authorities that seriously hinders the country’s economic development. He proposes to switch to market organization of money supply basing on regulation of the refinancing rate.
Macroeconomic Equilibrium Theory in the Context of Methodological Problems of Contemporary Economic Science
Authors: Likhachev M.
Published: March 2019

The article is devoted to the analysis of methodological problems in using the conception of macroeconomic equilibrium in contemporary economics. The author considers theoretical status and relevance of equilibrium conception and discusses different areas and limits of applicability of the equilibrium theory. Special attention is paid to different epistemological criteria for this theory taking into account both empirical analysis of the real stability of economic systems and the problem of unobservability of equilibrium states.
On the Methodological Foundations of Mainstream and Heterodoxy in Economic Theory in the End of the XIX - the Beginning of the XXI centuries
Authors: Rozmainsky I.
Published: March 2019

The paper deals with the evolution of economic method during the last centuries. The author argues that the Marginalist Revolution in the end of the XIX century created radically new vision of the subject-matter and method of economic theory. As a result, contemporary mainstream economics is now based on the assumptions of methodological individualism, optimization and absence of "genuine" uncertainty. These processes have strongly diminished the potential of economics. As a response various heterodox conceptions have emerged emphasizing different kinds of non-optimizing and/or group behavior and also stressing the importance of complexity, volatility and "genuine" uncertainty of economic environment. In this respect, in particular, the paper shows that J. M. Keynes’ theory is beyond contemporary mainstream economics.
Russia-2050
Authors: Bashmakov I.
Published: March 2019

This article deals with the contradiction between current Russian cultural tradition - orientation at survival of isolated individuals looking for solutions to present-day problems and lacking a clear vision of what the future will bring - and the necessity to switch Russia to the innovative development path based on transformation of the presently inflexible institutional system.
Misuse of Institutions: Its Causes and Consequences
Authors: Polishchuk L.
Published: March 2019

Institutions are often misused, i. e. applied or resorted to for reasons which have little in common with their intended or anticipated purpose. The aim of the present paper is to get a further insight into the origins and causes of institutional misuse. A typology and cost-benefit analysis of misuse of institutions are presented and illustrated by examples largely drawn from Russian realities. Causes of vulnerability of institution to misuse are discussed. It is argued that institutions are not protected from misuse at the grassroots due to unresolved collective action problems, whereas economic and political elites are either indifferent to misuse of institutions or perpetrate such misuse by subverting market institutions for the purpose of rent extraction.
In Search of Institutional Characteristics of Economic Growth (New Approaches on the Border-line of XX-XXI Centuries)
Authors: Radygin A. , Entov R.
Published: March 2019

The article considers new approaches and studies of economic, political and legal interrelations which are directly linked with institutional characteristics of economic growth and have gained recognition in modern economic theory. The authors also analyze the most important from their point of view issues and contradictions that appear in the course of discussion of long-term prospects of the innovative institutional environment formation in present-day Russia.
Institutions and Individuals: Interaction and Evolution
Authors: Hodgson G.
Published: March 2019

The author claims that the conceptualization of the relation between individual and structure is central to social science. This paper overviews some recent developments in the social theory of structure and agency, and makes a novel addition, based on a concept of habit derived from pragmatist philosophy and sociology and from Veblenian institutional economics. The author shows how processes of habituation provide a mechanism of ‘reconstitutive downward causation’ where institutional circumstances may affect individual preferences. Finally, special characteristics of organizations are discussed, endorsing an evolutionary analytical approach that combines insights from both evolutionary economics and organization science.
One of Possible Histories of Economic Thought in Russia (On the Book by J. Zweynert “Eine Geschichte des ökonomischen Denkens in Rußland”)
Authors: Gloveli G.
Published: March 2019

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Milner B. Z. The Theory of Organization: A Textbook. 7th ed., Revised and Enlarged
Authors: Yakovlev A.
Published: March 2019

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International Financial Centers: The World Experience and Russia’s Opportunities
Authors: Rozinsky I.
Published: March 2019

The author assumes that setting the target of creating an international financial center in Russia is caused by the international competition for maximizing national share in value-added chains in modern industries and for human resources capable of creating the value-added. Having analyzed the historical evolution of international financial centers the author opts for pursuing the aim of turning Moscow into the regional center for the CIS, CEE and / or Middle East countries. To achieve it, some measures are proposed, including motivating international companies and banks to transfer their regional headquarters to Moscow.
Evaluation of Creativity of the Russian Regional Communities
Authors: Pelyasov A. , Kolesnikova O.
Published: March 2019

Russian regional communities are measured by aggregate creativity index. Seven indicators grouped according to R. Florida’s approach into three indices of talent, technology, and tolerance are the basis of this evaluation. As the result one can reveal two types of creative regions: highly urbanized regions, mega city-regions, and two types of outsiders of this ranking: agroindustrial republics and old industrial oblasts.
Marx’s Method
Authors: Litoshenko L.
Published: March 2019

The article is a previously unpublished text written by the prominent Russian economist L. N. Litoshenko (1886-1943) and devoted to the interpretation of K. Marx’s economic theory. Litoshenko claims that the system of economic science developed by Marx is missing logical structure and cannot be proven in its entirety. This view is supported by the fact that in Marx’s "Capital" we find internal inconsistency, ambiguous and inexact pieces of argument. The article considers the main peculiarities of Marxian theory and method. The author criticizes apologetic approaches to the appraisal of Marx’s contribution to economic theory and finds insufficient both "nave-realistic" and "socially objective" perception of Marx’s ideas. By analyzing a huge amount of sources Litoshenko argues that if we try to approach economic life objectively, we will certainly find it difficult to regard Marx’s method as means of cognition (and change) of economic (market) reality.
Evolutionary Modeling and Critical Realism
Authors: Kuntsel S.
Published: March 2019

The paper shows that the major methodological problems of modern economics are rooted in internal contradictions and inconsistencies of positivism as applied to social sciences. Evolutionary economics is considered as an alternative approach to mainstream economics, capable of overcoming internal deficiencies that mainstream economics faces. But within evolutionary economics one can find different methodological grounds leading to multiple views on how to analyze complex economic reality, build models and evaluate them properly. It is argued that unifying methodological principles of evolutionary economics are to be found in the philosophy of critical realism. The most appropriate scientific method is that of computer simulations.
World Economic Crisis and Scenarios of Post-crisis Development: Marxist Analysis
Authors: Buzgalin A. , Kolganov A.
Published: March 2019

Implications of the modern Marxist theory create the opportunity to show the inevitability, the reasons and the main features of the first world crisis of the XXI century. It has been generated by deregulation of economy, which caused the ‘classical’ crisis of overproduction, and by the new contradictions of late capitalism, in particular, by persistent over-accumulation of capital and by the excessive development of the transactional sector, of the fictitious financial capital and its isolation from the real sector. Marxist analysis of social interests and contradictions shows that anti-crisis measures require not only increasing of state regulation, but also determining on behalf of whom and in the interests of what social groups this regulation will be realized. The authors propose to do this on behalf of the financial capital and in the interests of citizens, but also formulate the neoconservative scenario of post-crisis development.
The Future of Institutional Theory (The Round Table of SU–HSE)
Authors: Avtonomov V. , Kuzminov Ya. , Radaev V. , Shastitko A.
Published: March 2019

The paper presents the proceedings of the round table which took place within the Summer School organized by the Laboratory of the institutional analysis of economic reforms (SU-HSE). The participants included V. S. Avtonomov, Ya. I. Kuz’minov, Vad. V. Radaev, A. E. Shastitko. They discussed the place and disciplinary boundaries of institutional economics within the system of social sciences; problems of economic policy and their links to institutional analysis; the institutionalists’ interaction and cooperation with psychologists, sociologists, lawyers; the role of institutional economics in the applied economic research.
Russian Business’ Off-shore Financial Networks
Authors: Kheyfets B.
Published: March 2019

The article considers a new tendency in the development of Russian off-shore business — transition to creating off-shore financial (financial-industrial) networks. Due to including companies from "soft" off-shores and sparring off shores the respectability of business in the whole grows while preserving the traditional off-shore benefits. The conflict of interests of business and the state towards off-shores that control 70—80% of Russian large private companies is shown; major off-shore risks under conditions of the current crisis are considered. The author assesses recent changes in Russia’s anti-off-shore policy and formulates some recommendations aimed at its perfection. It is also very important to improve national economic and political business environment in general.
The Jubilee of the Oldest and Modern Journal in Economics
Authors: Abalkin L.
Published: March 2019

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The Complexity Revolution and the Future of Economics
Authors: Colander D.
Published: March 2019

The paper considers the change in theoretical and empirical research in modern economics. This change is driven by the emergence of new theoretical approaches associated with the complexity theory and behavioral economics. The author shows that in future economists will reject some basic assumptions of neoclassical economics and adopt many different interdisciplinary approaches in order to study concrete economic problems. These gradual transformations should considerably change the structure of economic knowledge. Formal modeling will be of minor importance and will give place to more applied fields of research.