bluuebunny/crossref_metadata_2025 huggingface dataset:
On the Essence and Tipology of International Public Goods
Authors: Mortikov V.
Published: March 2019

The basic properties of international public goods are analyzed in the paper. Special attention is paid to the typology of international public goods: pure and impure, excludable and nonexcludable, club goods, regional public goods, joint products. The author argues that social construction of international public good depends on many factors, for example, government economic policy. Aggregation technologies in the supply of global public goods are examined.
Problems of the Evolution of Bimonetary Systems in Transition Economies
Authors: Luksha N.
Published: March 2019

The paper investigates the evolution of bimonetary systems in emerging markets. The process characterized by currency or asset substitution is typical for most countries with transition economies. Internal contradictions connected with the circulation of two currencies cause interest to the problem of bimonetary system evolution as a special type of institute. The paper presents a theoretical classification of possible ways of development of bimonetary systems. Particular attention is paid to formalization of the model of bimonetary system evolution with the instruments of the game theory.
Unknown Friedman: The Contribution of Great Monetarist to the Fall of Bretton Woods
Authors: Moiseev S.
Published: March 2019

In 1973, the US Treasury Secretary informed the IMF that the United States had moved from system of fixed exchange rates to flexible exchange rates. The fall of the Bretton Woods system became the culmination of the campaign led by M. Friedman during the previous quarter of a century. This publication studies the process by which Friedman's case for flexible exchange rates was transformed from economic "heresy" to the majority academic opinion. The primary focus of the paper is political economy of organization and developing of the intellectual and political forces which undermined the Bretton Woods system.
Russia - on the Way to an Information Society?
Authors: Liuhto K.
Published: March 2019

The perspectives of information society in Russia are considered in the article. The author examines Russia's ICT sector paying special attention to PC and Internet penetration. Russia's foreign trade with ICT goods (mainly offshore programming) is also analyzed. The author points out that the Russian Government $2.6-bln. program "Electronic Russia (2002-2010)" is the necessary but not sufficient instrument to build information society. Russia's ICT sector needs domestic and foreign investments.
Fedorenko N. P. Russia on the Border-line of Centuries
Authors: Inshakov O.
Published: March 2019

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Currency Structure of the International Economic Relations in the Beginning of the 21st Century
Authors: Oleinov A.
Published: March 2019

The article analyses currency structure of the international economic relations in the beginning of the 21st century. The author focuses on the changes that have happened in these relations after the introduction of the single European currency. On the basis of data available on the use of the main world currencies by non-residents the article draws a conclusion about a recent significant diversification in the structure of the currency portfolio of the world economy.
World Competition and Clusterization of the Economy
Authors: Afanasiev М. , Myasnikova L.
Published: March 2019

The paper considers sociocultural processes caused by globalization and integration. The authors conclude that the present effective form of economic organization is the clusterization of economy. These clusters appear to be an effective emergental association of branch structures, forming a competitive economic unit. The competitiveness of clustered economy is proved by the experience of Finland - the most competitive country in the world economy. The prospects of clusterization in Russia are examined.
On the Criticism of the Scientific Criticism (Remarks on the Margins of Polemics about Marxism)
Authors: Tarasevich V.
Published: March 2019

The article is devoted to problems of the scientific criticism in the context of polemics about Marxism. The author determines the criticism as creative production of new knowledge. He also distinguishes absolute and relative, text and context, corresponding and noncorresponding criticism. Interaction of hermeneutics and criticism is considered. Special attention is paid to the contents of criticism of the scientific system, on one side, and nonsystematic ideas, hypotheses and theories - on the other.
Insider Activity: Pro et Contra
Authors: Shapovalov A.
Published: March 2019

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Family in the Institutional Space of Russian Entrepreneurship (An Attempt of Historical Study)
Authors: Baryshnikov M.
Published: March 2019

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Internal Migration of the Russian Population: Tendencies and Social and Economic Consequences
Authors: Riazantsev S.
Published: March 2019

The article examines tendencies and directions of internal migration in Russia under present conditions. It gives detailed review of features of the interregional migratory exchange between federal districts and subjects of Federation. Also the reasons of reduction of migration inside Russia in the 1990s are discovered. Calculations of the coefficients of the intensity of migratory ties between subjects of Federation are presented and the basic directions of migration at the regional level are defined. Besides the key problems of the internal Russian population migration are distinguished, among - migratory outflow and losses of the population in the regions of Siberia and the Far East. Strategic directions of the migration policy of Russia in the middle term are presented.
Institutional Theory of Endless Redistribution
Authors: Sonin K.
Published: March 2019

In unequal societies, the rich may benefit from shaping economic institutions in their favor. This paper analyzes the dynamics of institutional subversion by focusing on public protection of property rights. If this institution functions imperfectly, agents have incentives to invest in private protection of property rights. The ability to maintain private protection systems makes the rich natural opponents of public protection of property rights and precludes grass-roots demand to drive the development of the market-friendly institution. The economy becomes stuck in a bad equilibrium with low growth rates, high inequality of income, and wide-spread rent-seeking. The Russian oligarchs of the 1990s, who controlled large stakes of newly privatized property, provide motivation for this paper.
Valentin Pavlov: Three Tragedies
Authors: Popov G.
Published: March 2019

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Temporal Physics in Financial Catastrophes Forecast
Authors: Voznaya L.
Published: March 2019

Some physical properties of time and their relation to the forecast theory are considered. Time's slowing and stopping as the break of the information link between former and future events of the system and as the "uncertainty catch" are put forward. The appearance of such "catches" on the eve of stock crisis is analyzed. The article deals with the link between synergetic factor of economic growth exhaustion and stock crisis.
The Analysis of Interregional Differentiation and Constructing Ratings of Development of Russian Regions
Authors: Baranov S. , Skufina T.
Published: March 2019

The article proposes methods for quantitative analysis of interregional differentiation structure and construction of regional ratings based on principal components analysis. Results of computations and analysis of interregional differentiation structure for all Russia, the North zone, and Russia without the North zone are provided. For computations data for 1998-2003 and their forecasting values for 2004-2005 were used. Ratings of socioeconomic development of Russian regions for 1998-2005 are also provided in the paper.
The Essence of Stability of a Monetary Unit in the Light of the Theory of Conventions
Authors: Koshchegulova I.
Published: March 2019

Theoretical approach to the definition of the stability of a monetary unit from the point of view of institutional theory is offered. In terms of the theory of conventions the stability of a monetary unit is the result of joint actions of individuals in the framework of various conventions. The role of informal norms of monetary behavior of individuals forming the level of public trust is analyzed. Civil, market and public opinion conventions are among the factors promoting the stability of state and private monetary units.
Analysis of the Development of the Subsoil Use System in Russia (On the Necessity of Hardening Institutional Conditions)
Authors: Kryukov V.
Published: March 2019

A peculiarity of the subsoil use system that is currently being formed in Russia is the neglect of development of complementary institutions such as norms and rules of the subsoil use or conflict resolution procedures. Instead, soft institutional conditions are emerging that allow subsoil-using companies to manipulate business rules and extract quasi-rents. As a result the property rights assignment process in the petroleum industry is biased towards the private form of ownership to the detriment of its public form. This also undermines the due process of key capital assets’ reproduction including reserves development.
Barnett V. A History of Russian Economic Thought
Authors: Shirokorad L.
Published: March 2019

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Depopulation in Russia (The Case of the Central Federal Region)
Authors: Lysenko S.
Published: March 2019

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Economic Methodology and Postmodernism
Authors: Boldyrev I.
Published: March 2019

The article is devoted to the interconnections between postmodern tendencies in the today’s culture (and in the philosophy of science in particular) and the modern economic methodology. The author shows that the relativist views, which are the distinctive feature of postmodernist theories, are justified by the current state of economic theory, fragmented and heterogeneous as it is. The article analyzes the genesis of postmodernist ideas, their advantages and drawbacks.
"Groups and Their Interests": The Point for Discussion (Foreword by R. Grinberg)
Authors: Rubinstein A.
Published: March 2019

The author analyzes modern theories of public interests and involves into the debate on the topic with A. Nekipelov. The article examines the special meaning and existence of public interests and describes contradictions emerging in the modern economic theory when trying to construct the relation between individual and public preferences. The author reveals similarities and differences between the advocated approach ("economic sociodynamics") and the point of view of A. Nekipelov.
The Ecology and the Economy: What is Rational?
Authors: Wallerstein I.
Published: March 2019

The article considers the problem of the global environmental change and its consequences. The author puts the environmentalists’ goals into the context of the geopolitical situation in the world-system and the structural features of the capitalist society. He suggests a complex view of coping with ecological difficulties, trying to combine intellectual, moral and political aspects of solving the said problems.
System Sources of Economic Growth (On the Book by L. P. and R. N. Evstigneevs "Economic Growth: The Liberal Alternative")
Authors: Kleiner G.
Published: March 2019

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Human Being, Market and Capital in the 21st Century Economy
Authors: Buzgalin A. , Kolganov A.
Published: March 2019

The authors argue that historical systematic approach creates opportunity to show that in the 21st century economy Human being is to a greater extent the subject of creative activity and at the same time is subordinated to the total hegemony of market ("market fundamentalism" - G. Soros) and global capital. Because of that Human being acquires the modified form of "human capital". This creates the deformed vision that Human being - the subject who creates all social wealth and culture - is not more than "capital", an object of private property assigned for market transactions. The alternative approach, which stresses the active role of Human being and the necessity to develop all human qualities, opens space for realization of the programs "information for everyone", "education for everyone" and so on.
Oil Prices: Limits to Growth and the Depth of Falling
Authors: Bashmakov I.
Published: March 2019

This article deals with the determination of future oil prices. The approach used is based on the evaluation of purchasing power limits and allows to put the limits to monopolistic price setting. Several important findings are formulated: going beyond the upper thresholds of purchasing power stipulates negative relationship between energy costs and GDP growth rates, and this brings the dynamics to energy demand to price elasticity. This approach is also based on what the author calls the economics of constants and variables, i.e. on the existence of very stable macroeconomic proportions, which may be observed throughout the whole period of statistical observations (over 200 years). It provides grounds for two conclusions. First, the upper limit of energy costs to the gross output ratio is determined by the least acceptable profitability. Second, the theoretical postulate on substantial production factors substitution used in the production functions theory may be incorrect. In reality, the change of the economy technological basis leads to the substitution of low quality production factor by the same factor with a higher quality. Application of this approach brings the basis for predicting oil prices for 2006-2008.
Economic Growth and Competitiveness in Russia: Price and Non-price Factors of Analysis
Authors: Mironov V.
Published: March 2019

The article is devoted to the analysis of economic growth perspectives and dynamics of competitiveness indicators of the Russian economy on macro-level (including main industry branches). The indicators of real effective exchange rate are analyzed along with unit labor cost indicators for estimating investment potential of the Russian economy in its relation to the main trade partners. Additionally, opportunities of parallel analysis of integral (price and non-price) and partial competitiveness indicators are examined with the aim to isolate the effects of various parameters of competitiveness on the integral indicator registered by surveys. The classical technique of the financial portfolio analysis for quantitative estimation of the Russian industry’s portfolio diversification in 1999—2004 is applied as a measure of structural competitiveness.
Credible Commitments in Contract Relations
Authors: Shastitko A.
Published: March 2019

The article aims to explain the role of credible commitments as a factor of widening voluntary economic exchanges boundaries from the transaction economics perspective. It considers grounds and ways of credible commitments creation; correlation of promises in contracts, credible threats, on the one hand, and credible commitments, on the other. The author shows the importance of pledge and also correlation of addressee of promises and pledgee from the perspective of credible commitments provision.
2006: The World Today and Tomorrow (On Basic Issues of the Report «State of the World 2006»)
Authors: Suetin A.
Published: March 2019

The article contains thorough analysis of major ecological and social problems that face the mankind now. The progress in their solution is traced. Some specific features of the sustainable development concept and its implementation on the global scale are emphasized. Particular features of fast development of China and India are outlined, which are quickly transforming into world powers. The state of the global meat industry, emerging nanotechnology market.and issues of biofuel consumption are considered.
Budget as an Instrument of Reproduction of Bureaucracy in Russia
Authors: Shvetsov Yu.
Published: March 2019

The article considers the problem of bureaucratisation of the state and the most important social and economic consequences of this phenomenon. The essence of bureaucracy has been revealed, characteristic features of its functioning in Russia have been analyzed; the material base of bureaucracy and its dominating status in the society have been substantiated. The conclusion has been made that the process of changing the role of the budget to serve the interests of bureaucracy is being accomplished.
The Use of Mathematics in Economics
Authors: Dow S.
Published: March 2019

The article examines the history of mathematical methods in economic science and their impact on the structure and factors of development of the modern economic theory. The author considers different features of mathematical modeling in it, giving some examples and analyzing theoretical and methodological issues arising in the process of economic and mathematical research.
Budget Reform: Federalism or Management Aimed at Results?
Authors: Yakobson L.
Published: March 2019

The paper discusses two competitive approaches to the priorities of the current stage of the budget reform in Russia. The analysis of the approaches is presented from the standpoint of credibility of government commitments in regards to budget constraints and social obligations. The paper outlines the advantages of combination of a generally centralized approach to the strategic planning and a generally decentralized usage of performance indicators for effective budgeting and stimulation.
An Evolutionary Theory of Economic Policy. Part II: The Necessity of Timely Switching
Authors: Polterovich V. , Popov V.
Published: March 2019

This is the second part (first part: Voprosy Ekonomiki, 2006, No 7) of the work on how economic policy of a developing country should change as it approaches the level of developed economies in terms of welfare (GDP per capita) and the quality of institutions. We focus on the impact of several policies to promote the catch up development: the speed of foreign exchange reserves accumulation ("exchange rate protectionism"); import tariffs; measures to attract foreign direct investment; import of technology versus indigenous R&D; regulation of migration and measures to support large versus small enterprises. The econometric analysis of the data on over 200 countries in 1975-1999 shows that the impact of these policies may be positive or negative depending on a stage of development; in each case we find threshold levels or critical combinations of GDP per capita and/or an institutional quality indicator. Thus, there is additional evidence to support the conclusions made in the first part of the article and based on the analysis of the evolution of economic policies in the Western countries and in the countries of successful catch up development ("economic miracles").
Agreement of Macroeconomic Forecasts in the Methodology of the System of National Accounts
Authors: Andryakov A. , Gurvich E. , Chernyavsky A.
Published: March 2019

In this paper the authors propose the model of agreement (financial balance) of macroeconomic forecasts, budget plans and balance of payments forecasts and the results of experimental calculations of this model for 2006-2008. The urgency of working out special instruments of such agreement is connected with increasing quality demands for medium-term budget plans. The proposed model is increasing the capacities of macroeconomic forecasts qualitative analysis; it explicitly contains resources of consumption and accumulation for major sectors of the economy and the economy as a whole. The financial balance is harmonized with the System of National Accounts and may be used for complex evaluation of the fiscal policy. In particular, it is possible to evaluate the influence of changes in tax regulation on macroeconomic and balance of payments indexes. The model contains net lending / net borrowing indexes for the sectors of the economy and on this base one can make conclusions about lending and borrowing capacities of the given sectors in future.
Perspectives of Reforming the System of Interbudget Relations in Russia (in the Light of the International Experience)
Authors: Nazarov V.
Published: March 2019

The attempts to reconstruct the instruments of interbudget relations take place in all federations. In Russia such attempts are especially popular due to the short history of intergovernmental relations. Thus the review of the ¬international experience of managing interbudget relations to provide economic and social welfare can be useful for present-day Russia. The author develops models of intergovernmental relations from the point of view of making decisions about budget authorities’ distribution. The models that can be better applied in the Russian case are demonstrated.
Application of Economic Methods to the Сorruption Research
Authors: Epifanova N.
Published: March 2019

The paper addresses the analysis of economic approaches to the corruption research. Essence and different kinds of corruption are considered from the economic point of view as well as the impact of corruption on social welfare. The author shows that it is impossible to clarify, whether corruption has a positive or a negative effect, because it may both reduce and increase social welfare. If the corruption causes under-consumption of the public good as compared with the situation of its absence, then there is real social loss in the total consumption. But corruption may also increase the volume of total consumption, therefore increasing social welfare.
“Reloading” Islam Matrix
Authors: Myasnikova L.
Published: March 2019

Economic problems of Islamic world restructuring concerning the USA urge to control all the Middle East hydrocarbons are considered in the article. This task is solved with the help of sustaining permanent war situation in the region. The struggle for hydrocarbons leads to subject confrontation of the USA and China as well as Iran - a new leading actor of the Islamic world. The context of confrontation is formed by the Muslim migrant expansion in Europe challenging its sociality.
Islamic Economy: Between Capitalism and Socialism
Authors: Bekkin R.
Published: March 2019

The purpose of this article is to give an idea of the concept of Islamic economy or Islamic economic model as it is usually referred to. The author compares Islamic, capitalist and socialist economies. In particular, the article considers the way private ownership, open market and interest are treated in different economies. The article also analyzes the evolution and the current state of the scientific discipline "Islamic economics".
On the Instruments of Economic Policy
Authors: Maevsky V. , Akhatova E.
Published: March 2019

The article shows that the policy of petroleum export limitation can be considered as a certain alternative of the macroeconomic policy of money supply sterilization. The "interests’ compromise" method is proposed. It allows compensating petroleum companies losses emerging due to export limitation. The evaluation of positive and negative consequences of the proposed alternative is presented. It is argued that this alternative can be used in case of the abrupt growth of the world petroleum prices.
Public Interests and the Theory of Public Goods
Authors: Rubinstein A.
Published: March 2019

The article is devoted to the modern public economics. The author analyzes the German "Finanzwissenschaft" tradition. Major issues connected to the problem of interests of the society as a whole were raised within this tradition: the problem of public goods pricing and the free-rider problem. The author considers this tradition taking into account the neoclassical economic concept of public sector. The article introduces the "public goods paradox" - incompatibility of methodological individualism and the positive demand for public goods. The author criticizes neoclassical theories (P. Samuelson, R. Musgrave, H. Margolis) and proposes a new approach. He develops the complementarity principle alternative to methodological individualism. According to this idea interests of the society as a whole are irreducible to interests of individuals.
Domination on the Market for Legal Research Systems: A Contribution to Economic Analysis
Authors: Avdasheva S. , Kryuchkova P. , Shastitko A.
Published: March 2019

The article considers general characteristics of the market for digital legal research systems and contains a short overview of the economic theory of markets for software products. The authors briefly describe the results of their research based on the estimation of the competitive environment in the industry. The methodology used includes determination of product and geographical market borders, analysis of the market size and market players by considering qualitative and quantitative parameters. The conclusions should be taken into account for the analysis of competition and opportunities for dominating on the market for digital legal research systems as a market for software products.
The Market for Air Passenger Operations: Contestable Market or…?
Authors: Lukyanov S. , Tissen E. , Kislyak N.
Published: March 2019

Based on the results of the survey of Russian airline companies, the article analyzes the main barriers to entry in this industry. The authors show the existence of substantial structural, technologic and behavioral barriers to entry that raises doubts concerning the applicability of the contestable markets hypothesis to this type of markets. The empirical estimation of the height of the barriers to entry shows that experts regard administrative barriers as the most important for limiting competition. In some regions there is a unified structure of ownership or affiliation "airport-airlines company" and this accounts for high level of market concentration and artificial monopolies. The article shows the contradictory relationship between these kinds of ownership and public welfare. The authors also study the ways of transcending the barriers to entry and come to the conclusion (using econometric techniques) that the most efficient way to transcend them in the air passenger operations industry is franchising.
Katkalo V. S. The Evolution of the Theory of Strategic Management
Authors: Shastitko A.
Published: March 2019

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How to Assure Stable Development in Unstable Financial Environment?
Authors: Ershov M.
Published: March 2019

Growing involvement of Russian economy in international economic sphere increases the role of external risks. Financial problems which the developed countries are encountered with today result in volatility of Russian stock market, liquidity problems for banks, unstable prices. These factors in total may put longer-term prospects of economic growth in jeopardy. Monetary, foreign exchange and stock market mechanisms become the centerpiece of economic policy approaches which should provide for stable development in the shaky environment.
The Formalization of Macroeconomics and Its Consequences for Monetary Policy
Authors: Moiseev S.
Published: March 2019

While early macroeconomists were engineers trying to solve practical problems, modern macroeconomists have focused on developing mathematic tools and establishing models. These analytic instruments, however, have been slow to find their way into practical applications. This paper reviews the influence of modern macroeconomics on realities of monetary policy. The author concludes that the effect of formalization of macroeconomic theory on central banking is close to zero.
VAT Refund under Conditions of Zero Tax Rate
Authors: Saakyan R. , Trunin I.
Published: March 2019

Main directions of tax legislation development are considered in the article from the point of view of relevancy of zero tax rate implementation and tax refund. Special emphasis is placed on the problem of tax refund delay that undermines the competitiveness of the export sector of economy. Comparative analysis of VAT refund mechanisms in different countries and Russia with respect to effectiveness of tax administration has allowed to formulate some hypotheses concerning relevant parameters of refund and test them with the help of various methods and models.
On Rational Behavior of Real Consumer
Authors: Maevsky V. , Chernavsky D.
Published: March 2019

This paper argues that the real consumer possesses two in principle different abilities. He is able not only to rate the concrete kinds of goods according to their importance, but to present them as some hierarchical composition consisting of micro- and macroforms of these goods. Up to the present the fundamental economic theory has paid exclusive attention only to the first consumer ability and has ignored the second one. It is shown that the inclusion of the second consumer ability in the analysis can help solving some serious problems of the consumer choice theory.
Irreducibility and Macroeconomics (Polemic Notes on the Article «„Groups and Their Interests“: The Point for Discussion» by A. Rubinstein)
Authors: Evstigneeva L. , Evstigneev R.
Published: March 2019

The authors present some comments on the article "Groups and Their Interests" by A. Rubinstein (Voprosy Economiki. 2006. No 11). The article is highly estimated by the authors. Meanwhile, they believe the problem put forward cannot be solved without a new approach to macroeconomics as a multi-leveled system with the leading role of financial capital. In order to discuss macroeconomic issues in the context of the complex systems theory the authors develop a synergetic paradigm.
CIS: Fifteen Years of Vain Efforts
Authors: Shishkov Yu.
Published: March 2019

During 15 years of its existence the CIS’s economic space has become less and less integrated. The article spotlights institutional, structural, and political causes of inevitable raveling out of this space that has formerly been a single whole. Russia as its gravitation center steadily loses its attractiveness for most of the partners, though continues to feed them up with hidden subsidies. Disbalance between growing costs of such subsidies and melting expectations of the integration has reached the critical level in 2005. Disintegration of the Commonwealth evidently has crossed the reversibility line.
Institutes and Instruments of State Support of Exports: Spanish Experience
Authors: Shkolyar N.
Published: March 2019

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Media Freedom, Bureaucratic Incentives, and the Resource Curse
Authors: Guriev S. , Egorov G. , Sonin K.
Published: March 2019

How can a non-democratic ruler provide proper incentives for state bureaucracy? In the absence of competitive elections and separation of powers, the ruler has to gather information either from a centralized agency such as a secret service or a decentralized source such as media. The danger of using a secret service is that it can collude with bureaucrats; overcoming collusion is costly. Free media aggregate information and thus constrain bureaucrats, but might also help citizens to coordinate on actions against the incumbent. We endogenize the ruler’s choice in a dynamic model to argue that free media are less likely to emerge in resource-rich economies, where the ruler is less interested in providing incentives to his subordinates. We show that this prediction is consistent with both cross-section and panel data.
The Innovation Constituent of Investment Process
Authors: Naryshkin S.
Published: March 2019

The article considers the main tasks of investment re-orientation of the Russian economy; the focus is made on the innovation character of investment process, including the strengthening role of state innovation abilities as an extra factor of foreign investment incentives. The financial and organizational aspects are stated which can help activate the Russian innovational development, and the growth of its contribution to the basic reconstruction of national economy is investigated. Special attention is paid to the importance of principal methods of state adjustment for innovation and investment processes in the Russian economy, taking into account the provision of distinct balance between interests of the federal center and regions. The definition of state investment policy is presented and the main tasks of the said policy are made clear. The significance of more active development and state support of venture financing is stressed which can allow attract investment resources to the field of innovation research.
Academic Freedom and the Standards of Behavior
Authors: Kouzminov Ya. , Yudkevich M.
Published: March 2019

The article analyzes the activity of university lecturer and researcher and the need for special mechanisms providing its efficiency. The authors consider academic freedom as a parameter of the university’s environment and discuss the convention regulating the relationship between lecturers and university management. The factors of the destruction of this convention are analyzed. The dynamic model of the lecturers’ behavior is proposed and two scenarios for the future development ("teaching ratchet" and "academic ratchet") as well as the factors of choice between them are discussed. The empirical data on the development and current state of the Russian educational system is also taken into account.
Financial Globalization and Limitations of National Monetary Policy
Authors: Golovnin M.
Published: March 2019

The article studies financial globalization’ influence on monetary policy. It considers quantitative indicators and qualitative tendencies of financial globalization. The paper outlines the main directions of financial globalization’ impact on national monetary policy and analyzes the developed and developing countries experience in searching answers to challenges of financial globalization. Special attention is paid to inflation targeting framework. Current problems of monetary policy in Russia due to increasing external openness of national economy and financial system and their possible solutions are put forward.
Organizational and Economic Problems of Enhanced Oil Recovery in Russian Fields
Authors: Ramazanov D.
Published: March 2019

Modern conditions and problems of development of the oil-production industry in Russia are considered in article. It is shown that the present structure of oil resources will not provide oil production according to estimates of the Energy Strategy to 2020. The program of increasing hydrocarbon exploration for oil fields and provinces accepted by the Ministry of Natural Resources of RF due to inefficient state regulation is lagging behind the schedule. We suggest that the federal program on introduction of modern enhanced oil recovery methods providing both the growth of oil production in the nearest 5-15 years and more efficient use of oil resources through increase of oil extraction ratio be accepted as an alternative strategy of development of oil production. The US experience of effective resources using and its applicability for the Russian oil-production industry are also considered in the article.
Subject Matter and Method of Interpretative Institutional Economics
Authors: Yefimov V.
Published: March 2019

On the basis of contemporary results of the philosophy of science the author renews the debate on methods (Methodenstreit). The current dominant conception of "scientific" stems from classical natural science. New Institutional Economics has been trapped in the classical paradigm by imitating not even contemporary natural science but that existing one hundred years before which studied simple systems. Practically-oriented first institutionalists in Germany and in the USA who dealt with complex socio-economic systems properly found out the interpretative approach appropriate for this kind of systems. This approach has recently received an increased development. The author uses these results for renovating the vision of the subject matter and the method of institutional economics.
“Capital” in the XXI Century: Pro et Contra
Authors: Buzgalin A. , Kolganov A.
Published: March 2019

The article shows that "Capital" gives the key for the understanding of the anatomy of both classical and modern market economy. "Capital" is relevant as such for the analysis of the classical features of market economy which still exists. Critical dialectical method of "Capital" has helped to develop critically Marxist theory according to the changes in the economy. Analysis of production relations helps to show historical limits of market, changes in the property, actuality of old and new contradictions of capital. The article argues for special actuality of "Capital" for Russia; marks the problems which have not yet been solved within the framework of modern Marxism; critically considers dogmatic anti-Marxism which has become very popular among modern scholars and students.
Rutgaizer V. M. Assessing the Value of Bussiness
Authors: Tsypkin Yu.
Published: March 2019

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Economic Development in 2006 and the Future of the Russian Economy: The Non-Resource-Based Sector Potential (The Economic Report of All-Russia Business Union “Delovaya Rossiya”)
Authors: Titov B. , Pilipenko I. , Danilov-Danilyan A.
Published: March 2019

The report considers how the state economic policy contributes to the national economic development in the midterm perspective. It analyzes main current economic problems of the Russian economy, i.e. low effectiveness of the social system, high dependence on export industries and natural resources, high monopolization and underdeveloped free market, as well as barriers that hinder non-recourse-based business development including high tax burden, skilled labor deficit and lack of investment capital. We propose a social-oriented market economy as the Russian economic model to achieve a sustainable economic growth in the long-term perspective. This model is based on people’s prosperity and therefore expanding domestic demand that stimulates the growth of domestic non-resource-based sector which in turn can accelerate annual GDP growth rates to 10-12%. To realize this model "Delovaya Rossiya" proposes a program that consists of a number of directions and key groups of measures covering priority national projects, tax, fiscal, monetary, innovative-industrial, trade and social policies.
J. M. Keynes as the Last Economist of Mainstream and a Precursor of Theoretical and Methodological Pluralism
Authors: Shapiro N.
Published: March 2019

The article shows the methodological ambiguity of Keynes’ ideas. The simplified treatment of his views on the part of his followers is criticized. The author shows the difference between Keynes’ methodological disputes with classics and his debate with mathematical economists and econometricians, in particular with J. Tinbergen. It is shown that methodological discussions of 1930-1940 are actual for the assessment of the current state of economic science in Russia.
Land Reform: As Viewed through the Prism of Intention
Authors: Buzdalov I.
Published: March 2019

The article considers conceptual grounds of land reform in Russia that has been conducted since the beginning of the 1990s and the results of its practical implementation. Special attention is paid to deformations during realization of the strategic course of reform and evident failures in tactics of market land transformations. Measures on correcting these transformations in the interests of land owners and rational land resources usage in rural areas are suggested.
Corporate Governance and Financial Performance: A Meta-Analysis
Authors: Gizatullin A.
Published: March 2019

The question of the influence of corporate governance on financial performance refers to the most vital topics of theory of the firm and corporate finance. The article is devoted to meta-analysis of empirical studies of the link between aggregate indicators of corporate governance quality and company’s financial performance. The study is based on the global sample of developed and developing countries data. Research results allow for assessment of true level and mechanisms of this interrelation with respect to legal, political, and economic environment.
Difficult Way out of Transformational Crisis (the Case of Georgia)
Authors: Grigoriev L. , Kondratiev S. , Salikhov M.
Published: March 2019

The article deals with the process of transformation of the post-Soviet space in the last two decades since the collapse of the Soviet Union. Different models of economic development of former Soviet republics in the transition period are considered. Special attention is paid to the analysis of the type of economic and social development of Georgia with particular focus on the reasons and economic consequences of the conflict in South Ossetia.
The Evolution of Associated Forms of Enterprises and the Genesis of the Share Institution
Authors: Krinichansky K.
Published: March 2019

The article expounds and summarizes the main economic and institutional factors and prerequisites for the formation of business enterprises in Europe in the X-XVIII centuries. The author shows that the later form of associated enterprises - joint stock company - had been preceded at an earlier stage of genesis by other forms of enterprises, each of which brought about its own innovations in the development of the share institution. The existence of limited liability corporations cannot be regarded as a sufficient condition for the transformation of the share into a financial instrument and for the formation of capital market. Some of these conditions may be the appearance of new motivational factors of using shares and corporations based on them and the formation of specialized infrastructure supplement.
Dilemmas of an Economic Theorist
Authors: Rubinstein Ar.
Published: March 2019

The paper discusses four dilemmas encountered by an economic theorist. The dilemma of absurd conclusions: should we abandon a model if it produces absurd conclusions or should we regard a model as a very limited set of assumptions that will inevitably fail in some contexts? The dilemma of responding to evidence: should our models be judged according to experimental results? The dilemma of modelless regularities: should models provide the hypothesis for testing or are they simply exercises in logic that have no use in identifying regularities? The dilemma of relevance: do economists have the right to offer advice or to make statements that are intended to influence the real world?
Methodological Institutionalism: A New Approach to the Evolution of Economic Science
Authors: Frolov D.
Published: March 2019

In the article the perspective approach in philosophy of science - methodological institutionalism - is discussed which regards economic ideas as scientific and ideological institutions. This approach allows to apply tools of modern institutional theory to the history of economic thought. The evolutionary analysis of science should put an emphasis on studying status interests of scientists, local rationalities and informal hierarchies of scientific communities, informal norms and values, epistemological institutional "traps" and models of scientific cognition.
Russian Corporation: Internal Organization, External Interactions, Prospects of Development / T. G. Dolgopyatova, I. Ivasaki, A. A. Yakovlev (eds.)
Authors: Shastitko A.
Published: March 2019

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F. Quesnay’s Intellectual Development (1736–1756) in Connection with the Metaphysics of "Évidence" and Political Economy
Authors: Klyukin P.
Published: March 2019

In the article, dedicated to 250-years anniversary of the first version of "Tableau économique", the logic of F. Quesnay’s (1694-1774) early thought is investigated. The need to fill the gap in such analysis is stipulated both by the state of affairs in present-day historiography of physiocracy and analytics and by the logic of development of political economy from Marx, pre-revolutionary Russian thought (including S. A. Podolinsky) up to P. Sraffa. In treating Quesnay’s article "Évidence" (1756) as a key point of his metaphysics, the author concludes that there is a surprising similarity of Quesnay’s metaphysics and Kant’s epistemology in his "Critique of Pure Reason". This specifies a route of further research in political economy as a science.
Towards the G. von Charasoff’s Legacy as a Crucial Point in Evolution of Russian Tradition Based on the Circular Flow Concept
Authors: Klyukin P.
Published: March 2019

For the first time in Russian non-translated economic literature the legacy of G. von Charasoff as an economist and mathematician is introduced and investigated. The task to evaluate Charasoff’s contribution to Quesnay-Marx theory based on the circular flow principle is posed. An attempt is made to resolve it by considering Charasoff’s views in the context of evolution of Russian scientific investigations of Marx’s "Capital" during 1890-1910. It is shown that Charasoff’s reasoning and analytical tools represent a crucial point (or closing stage) of Russian analytical tradition which includes the theories of Tugan-Baranowsky, Dmitriev, Shaposhnikov and Bortkiewicz.
Russia’s Social Problems and Alternative Ways of Their Solving
Authors: Gontmakher E. , Maleva T.
Published: March 2019

It is noted in the article that various socio-cultural communities have recently been formed in Russia. The creation of their common way of life is possible only on the base of social policy which realizes in practice the most popular values: justice, care toward socially vulnerable groups, decent payment for decent labor and family. The main principles of such social policy are proposed which in turn is possible only as a part of the modernization scenario of Russia’s development.
What Does “Change of System” Mean?
Authors: Kornai J.
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.
Velikhov E. P., Betelin V. B., Kushnirenko A. G. Industrial Policy, Innovations, Mass Information Technologies, National System-forming Companies
Authors: Goryunov I.
Published: March 2019

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Ownership without Legitimacy?
Authors: Kapeliushnikov R.
Published: March 2019

The paper examines the problem of legitimation of the privatization’s outcomes in Russia and provides a critical appraisal of various political proposals for its resolution. The analysis proceeds from a distinction between two different types of ownership illegitimacy: "definite" and "vague" ones. The paper argues that the "vague" illegitimacy that has evolved in Russia is not an absolute obstacle for economic growth but rather an institutional birth trauma which is common for all post-socialist countries and which could be cured only by piecemeal approaching of relationships between "strong" and "weak" economic actors to principles of fair play.
Institutional Evolution of Post-Soviet Institutionalism
Authors: Frolov D.
Published: March 2019

The author considers Post-Soviet institutionalism as a special social institution of scientific knowledge production. Quantitative parameters and institutional logic of evolution of this scientific current in Russia since 1992 and up to the present are analyzed. It is shown that the "boom" of institutional research has led to the crisis of overproduction of scientific papers and is now gradually turning into stabilization. The necessity of modernization of theoretical and methodological base of institutional economic theory is proved, perspective directions of its development in our country are determined.
Post-crisis Structure of Economy and Organization of Coalitions for Innovations
Authors: Grigoriev L. , Plaksin S. , Salikhov M.
Published: March 2019

The article develops methodological approach to the analysis of groups of interests’ influence on the choice of Russia’s development strategy. It is possible to pass on to the analysis of specific issues of economic policy by forming several sub-groups in every "analytical" group. The article also considers the structure of Russian economy which was formed as a result of transformational crisis’ influence on Soviet economy, and relevant international comparisons. Main alternative ways of transition to innovational development are the renewal of Soviet "triangle economy" (the scenario "Mobilization") and complex institutional changes (the scenario "Modernization").