bluuebunny/crossref_metadata_2025 huggingface dataset:
Modernization of Antimonopoly Policy in Russia (Economic Analysis of Proposed Changes in the Competition Law)
Authors: Avdasheva S. , Shastitko A.
Published: March 2019

The article is devoted to the analysis of the draft law "On Protection of Competition", which must substitute the laws "On Competition and Limitation of Monopolistic Activity on Commodity Markets" and "On Protection of Competition on the Financial Services Market". The innovations enhancing the quality of Russian competition law and new norms providing at least ambiguous effects on antimonopoly regulation are considered. The first group of positive measures includes unification of competition norms for commodity and financial markets, changes of criteria and the scale of control of economic concentrations, specification of conditions, where norms are applied "per se" and according to the "rule of reason", introduction of rules that can prevent the restriction of competition by the executive power. The interpretation of the "collective dominance" concept and certain rules devoted to antimonopoly control of state aid are in the second group of questionable steps.
Peter Bauer’s Market-Liberal Vision
Authors: Dorn J.
Published: March 2019

The article is devoted to P. Bauer who promoted the principles of liberty around the world. Lord Bauer considered that the development is the expansion of individual choices. He underlined that the role of the state was to protect life, liberty, and property. Bauer's works focus on the process of development measured by the extent of economic freedom. P. Bauer insists that economic development depends on institutions, culture, and conduct. J. Dorn declared P. Bauer a hero of market revolution and a protector of "laissez-faire".
The Economic Role of Civil Society
Authors: Auzan A. , Tambovtsev V.
Published: March 2019

The paper is devoted to the analysis of civil society's positive influence on any country's economic development. In addition to well-known arguments, at least two extra mechanisms exist: civil society organizations produce goods that other organizations (business and public) don't; civil society organizations increase the bargaining power of citizens in their interaction with business and state and enhance the resource allocation efficiency.
On the Specifics of Economic Institutions in the Social Sphere (Theoretical Aspect)
Authors: Olsevich Yu. , Mazarchuk V.
Published: March 2019

The authors consider the organizations in different branches of the social sphere (schools, clinics, theatres) as complex institutional formations where the "cluster" of economic norms and rules is subordinated to the "cluster" of social values. These organizations perform the dual function: formation of human capital and compensation of poverty of poor people. According to the authors' opinion, complex reforming of the health care branch requires creation of new economic norms and rules combining plan, semimarket and market relations. This approach will rise the effectiveness of this sphere and will not undermine its social function.
Russian Banking Sector: Issues of Consolidation and Corporate Governance
Authors: Murychev A.
Published: March 2019

The article analyzes urgent issues of the development of Russian banks. The probability of Moscow banks' regional expansion is noted. Hence the necessity for regional banks to find market niches. Competitive advantages of small and medium-sized banks as well as barriers to their activity are considered. Special attention is paid to the problems of corporate governance in banks. The results of the survey conducted by the Association of Regional Banks of Russia in summer of 2004 are analyzed.
The Market of Lands for Agricultural Purposes: The Practice of Constraints
Authors: Shagaida N.
Published: March 2019

The study presents the analysis of ways of formation of land utilization of agricultural organizations, private and subsidiary farms, examines the size and procedure for land payments, intensity of annual land turnover based on the query held in 3 Russian regions. The study shows that low demand and insufficient competition for the land for agricultural purposes, lack of market information, administrative and organizational barriers are the main constraints on land turnover. The attempt is made to measure transaction costs concerned with registration of rights of land ownership.
Labor and Employment in Agriculture
Authors: Bogdanovsky V.
Published: March 2019

The article is devoted to the problem of employment in Russian agriculture under conditions of economic transformation. As the analysis shows, huge transfer of labor from corporate to individual enterprises have taken place. Profitability of labor has radically decreased, partial unemployment (especially in individual enterprises) has developed and the quality of labor has gone down. The key measures suggested include increase of labor profitability and development of alternative spheres of employment in rural areas.
The Market of Agricultural Credit
Authors: Yastrebova O. , Subbotin A.
Published: March 2019

The article analyses farms' access to credit and other financial institutions in Russia. Some government policies that have a bearing on the main financial issues of the farm sector are examined. These include policies relating to debt restructuring, subsidised credit and investment support. Farms' access to credit is analysed at both sector level and for the sample of 144 farms from Rostov, Ivanovo and Nizhni Novgorod oblasts, applying the discreet regression analysis. The findings caution against generalizing the conventional financial patterns of market economies to transition countries.
Estimating Allocative and Technical Efficiency of Corporate Farms
Authors: Grazdaninova M. , Lerman Z.
Published: March 2019

This study is aimed to analyze Russian corporate farms technical efficiency using DEA and allocative efficiency basing upon VMP calculations. The estimations are carried out on three aggregation levels: total farm, sectors (livestock and crops production) and selected commodities (grain, sunflower, beef, milk and pork), using survey data. The results of the analysis suggest that there is no substantial misallocation of resources given current input and output prices. High technical efficiency scores speak for production technologies being homogeneous. Neither "best practice" extension, nor getting to allocative efficiency will eliminate the large productivity gap between Russia and the developed market economies.
Are Civil Technologies Needed? (On the Accents in Economic Analysis of Civil Society)
Authors: Oleynik A.
Published: March 2019

The author criticizes the position of A. Ausan and V. Tambovtsev presented in their recent paper (VE, 2005, No 5). He argues that the idea of construction of civil society by governmental structures is not the right one because that position presumes the rationality of civil society. He offers more fruitful approaches to analyzing civil society based on socioeconomics and "old" institutionalism. The author concludes that civil society will be vital only if it provides the alternative to "power vertical" and market ethics expansion.
International Migration of Professionals and Tertiary Students
Authors: Tsapenko I.
Published: March 2019

The article is devoted to the problems of modern intellectual migration. It deals with main factors of intensification of international movements of science and technology specialists and students, connected with globalization and informatization of the society. The scope, geographic, socio-professional and disciplinary structures of these flows are also considered. Contradictory sequences of movements of professionals and students for countries both their donors and recipients are revealed. Main directions of migration policies as well as government measures in the sphere of education, science and technology, aimed at maximizing the dividends and minimizing the losses from participation in international intellectual migration, are determined.
China’s Peasantry Migration
Authors: Gelbras V.
Published: March 2019

The analysis of migration processes in China is offered in the article. The author points out that the system of passport registration is now liquidated so unemployed peasants are allowed to search for work in "small towns" and cities. According to some estimates the quantity of such unemployed is more than 150 mln. China's authorities are of the opinion that migration will help fight with poverty, solve the so called problem of "warm and satiety" since 70% of Chinese peasants live below poverty level (1 doll. per day income).
“Budget 3-Year Plan” (2006-2008) and the State Economic Policy
Authors: Goreglyad V.
Published: March 2019

The article contains critical analysis of methodology of the medium-term budgetary forecasting in present-day Russia. This methodology is based on the monetarist principles understood in the way of vulgar economic theory. The author proposes a variant forecast of using budget proficit including the possibility of investment of its part. Special attention is paid to the problem of forming the effective state in Russia.
The Common Free Market Zone of Belarus, Kazakhstan, Russia and Ukraine: Problems and Prospects
Authors: Shumsky N.
Published: March 2019

The article describes the main aims, objectives, principles and tendencies of formation of the Common Free Market Zone of Belarus, Kazakhstan, Russia and Ukraine. The detailed analysis of economic prerequisites of the said zone creation including the possibilities of the removal of existing barriers between states for the movement of goods and services that interfere with the creation of a viable free trade zone without any exemptions or restrictions is presented. The approaches of the states-participants to the coordination of their talks positions concerning the WTO accession are analyzed. The aspects of formation of the Common Free Market Zone taking into account geopolitical orientation and objectives of the states-participants are considered.
Russian Households Labor Supply Peculiarities
Authors: Pyastolov S.
Published: March 2019

The paper presents the results of the "Individual labor supply parameters research" project realized in 2002-2003 in several Russian local labor markets (N = 1413). LS elasticities as well as the shapes of LS curves have been special points of interest of the researches. Besides the canonical C-shaped and S-shaped curves, their mirrored reflections and also L-shaped and J-shaped forms were observed. The "backward bend" concept for poor households and the S-shaped LS curve concept for households with "primary", "secondary" and "tertiary" workers helped to find explanations for the cases. One can observe the same phenomena once found out in India and Africa. The dummies for regions and professions as well as "institutional numbers" are successfully used in order to improve the regression quality.
“Small Lie, Big Lie and Statistics” (A Brief Commentary to V. Starovsky's Anniversary)
Authors: Kudrov V.
Published: March 2019

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Forming Russia's National Financial Strategy: The Way to Uprising and Welfare. Ed. by V. K. Senchagov
Authors: Kulikov A.
Published: March 2019

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Method of Economic Duality
Authors: Afanasiev V.
Published: March 2019

The position of the method of economic duality in economic science is obviously paradoxical. On one side, this method is used by scientists for more than two and a half thousand years (starting from Aristotle): modern economic science has been built at a considerable degree with its help. On the other side, it is not acknowledged in economic science and even is not formally defined. As a specific method used only by economic science it is based on the fact that economic phenomena of market economy have dual structure. All economic phenomena are different expressions of labor inputs of commodity producers. But this labor, as is known, has dual nature and is determined as contradictory unity of concrete and abstract labor. Objective connection between labor structure and structure of economic phenomena appears to be the basic structural regularity of market economy. Usage of the given regularity in economic analysis is the essence of the method of economic duality allowing to reveal complicated and contradictory structure of economic phenomena and processes.
Transfer Mechanism: Has the Crisis Been Overcome?
Authors: Lavrovsky B. , Postnikova E.
Published: March 2019

During recent years the intensive activity on perfection of mechanisms and tools of financial support of regions from the federal budget has taken place. The algorithm of distribution of the Fund of financial support of regions has been changing almost annually with the purpose of equalization of parameters of the regional budget per capita incomes. Meanwhile, the differentiation of these parameters is growing. Using wide empirical base the authors try to answer the following question: why cannot the decision of the priority task put before the transfer mechanism be reached?
Nonuniform Development of Municipalities
Authors: Alexandrova A. , Grishina E.
Published: March 2019

The paper is focused on uneven development of municipalities in Russia. A feasible method of assessing inequality of local development within regions is suggested and applied to four Russian regions. The analysis shows that in the late 1990s constant increase in inequality was observed, based on constructed municipal development/welfare indicators. Economic growth in that period had an uneven impact and did not create additional development opportunities for weak and economically stagnated municipalities.
Statistical Study of Demand Conditions in Russian Industrial Branches
Authors: Raiskaya N. , Sergienko Ya. , Frenkel A. , Tsukhlo S.
Published: March 2019

A problem of a nonoptimal structure of the solvent demand in different Russian industrial branches is reviewed in the article. The influence of internal elements of the solvent demand on the development of industries, which produce for the domestic market, is studied. The main attention is paid to interconnections between the solvent demand and the financial situation of enterprises, banks' involvement in investment processes, and growth of investment into fixed capital. The analysis is based on estimates obtained by using methods of mathematical statistics.
On the Necessity of Microelectronics Production Priority Development in Russia
Authors: Antonets E.
Published: March 2019

The analysis of microelectronics significance in national economies and its role in the production of modern consumer goods and machinery, information maintenance of economies' functioning is presented in the article. The necessity and possible ways of Russian electronics industry recovering are considered. It is shown that changing the raw materials orientation of the Russian economy is possible only by way of microelectronics industry priority development that will constitute a technological base and the source of funds for modern consumer goods mass production.
The Role of Cadastre of Realty Objects in Modern State
Authors: Mishustin M.
Published: March 2019

In modern states with developed market economies the cadastre of realty objects is a significant prerequisite of capital creation and float. It promotes economic growth and social stability. As the author points out, Russia is now in the beginning of the process of constructing the unified cadastre of realty objects, but it has an opportunity to employ the most advanced information technologies. The development of Russia's cadastre is aimed at the integration with the rights register and regulated interaction with tax authorities.
Free Economic Society and Socioeconomic Reforms in Russia
Authors: Popov G. , Krasilnikov V.
Published: March 2019

Basing on brood historic material the article considers major milestones in the FES activity in the context of Russia's social life. One of its first actions was the propaganda of planting potatoes in the country. Gradually the Society widened the sphere of its activity and methods of research, in particular, it became involved in publishing business, organizing exhibitions and expeditions. Among important directions of the FES work the authors point out the support of progressive undertakings in the economy. Modern activity of the Society after its revival when it has concentrated its efforts on promoting radical economic transformations is also analyzed.
Chepurenko A. Yu. Small Enterpreneurship in the Social Context
Authors: Vilensky A.
Published: March 2019

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Political Economy of Post-Soviet Marxism (Theses to Forming of Scientific School)
Authors: Buzgalin A. , Kolganov A.
Published: March 2019

The limited ability of neoclassical "mainstream" to explain deep fundamental shifts in economic structures of the present day world determines the renaissance of alternative schools of economic theory, including Marxism. The article is aimed to show theoretical concepts of modern Russian neomarxism, which has a potential to explain the contradictions of the capitalist globalization, the tendencies of forming new types of socioeconomic relations, of the specific forms of transition economies in the post-socialist countries and basic causes of the birth and collapse of the socialist system.
Economic State and Institutional Environment of Russian Industrial Enterprises: The Empirical Analysis of Interrelations
Authors: Kleiner G. , Kachalov R. , Sushko E.
Published: March 2019

The paper presents the analysis of the data received from the survey of heads of industrial enterprises and also experts-researchers in 2003-2004. The data describe the economic state of enterprises and their position in competitive, administrative, intermediary, financial etc. environment. The assumption of essential heterogeneity of the set of industrial enterprises, including enterprises of the same sector or the same territorial formation is confirmed. It is shown that Russian industrial enterprises as a rule do not feel influence of the stock market situation while the condition of the currency market influences the majority of enterprises. The sensitivity of enterprises depends on their economic situation: the better is the state, the stronger is the influence. Weak influence of the investment and administrative environment on the state of enterprises and negative influence of the activity of intermediary organizations are registered. More than 2/3 of the respondents consider important strengthening of the responsibility of large proprietors for inefficient activity of their enterprises. Lack of the strategic approach in the activity of authorities of all levels is ascertained and the necessity of development and realization of industrial policy at all administrative levels, including the municipal one, is shown.
Thomas Schelling, Robert Aumann and Interactive Decision Theory (2005 Nobel Prize in Economics)
Authors: Belyanin A.
Published: March 2019

The paper describes the contributions of T. Schelling and R. J. Aumann, the Nobel Prize laureates of 2005 in economics, to modern economics and social sciences. Their key contributions were in the field of the game theory - a major tool to study human interactions and rational behavior in a wide variety of contexts, from applied industrial organization to labor economics, public policy, international relations and political science. Works by Aumann and Schelling were pathbreaking in this respect, and have paved the way to many modern developments that enhance our understanding of human rationality.
Multi-level Analysis of Conscription in Russia
Authors: Tsymbal V. , Kardashevskiy N.
Published: March 2019

The article considers macroeconomic aspects of conscription. The authors provide macroeconomic data, doing cost-benefit analysis of different variants of reforms in this sphere, and come to the conclusion that there are opportunities to significantly improve the existing strategy of reforms in that domain as proposed by the Ministry of Defense.
Present-day Problems of Post Bank Activities
Authors: Chavtur A.
Published: March 2019

The article describes the present state of the post bank business in Russia and in the world, highlighting its typology and development trends. Optimal competitive niches and primary audience of the business are defined. Factors of system implementation of the post bank activities, strategic principles and priorities of their development are revealed. Coordinating activities and expansion possibilities for the post bank business are reviewed as well as issues of functional cross-branch integration.
Ruble Real Effective Exchange Rate: Problems of Appeciation
Authors: Kudrin A.
Published: March 2019

The article is focused on the estimation of advantages and risks of the policy of "strong" ruble. The author analyzes factors, that cause effective exchange rate appreciation, studies the influence of ruble appreciation on the import dynamics. In the end suggestions on the optimal exchange rate policy in Russia are offered.
The Evolution of Organizational Forms in Russian Retailing
Authors: Radaev V.
Published: March 2019

Conceptual schemes of the organizational ecology are applied to reveal major trends in the evolution of trading formats in Russian retailing at present. They include the increasing share of modern stores, downstream waves of exploring the market niches from premium to economic market segments, and the spread of the multiformat strategy. The role of new trading formats in Russia is compared with that in the countries of Central and Eastern Europe. Scenarios of future development in the retailing sector are presented.
Current Tendencies of the Russian Banking Sector Development
Authors: Sarkisyants A.
Published: March 2019

The article considers a new model of the Russian banking system and its prospects. It also studies the ties of the national banking sector with the real one. The activity of foreign banks in Russia is investigated as well as the tendencies of the world banking process.
Baltic States in the European Union
Authors: Simonyan R.
Published: March 2019

The article analyzes social and economic changes, which have occurred in the Baltic states after their EU accession. It reveals new tendencies in the development of this new region of the united Europe that plays a significant geostrategic role for Russia.
Kazakhstan’s Economic Growth in the Context of the World Economy
Authors: Arystanbekov K.
Published: March 2019

Kazakhstan’s economic policy results in 1995-2005 are considered in the article. In particular, the analysis of the relationship between economic growth and some indicators of nation states - population, territory, direct access to the World Ocean, and extraction of crude petroleum - is presented. Basic problems in the sphere of economic policy in Kazakhstan are formulated.
Transformation Risks of the Russian Economy
Authors: Evstigneeva L. , Evstigneev R.
Published: March 2019

The authors believe the roots of the main risks of the Russian economy lie in the macro-level economy; the latter does not mean an aggregated market. Within the framework of the synergetic paradigm, it is an independent phenomenon based on financial capital. The article analyzes in detail the risks in both primary and mature macroeconomic markets, as well as the most essential contradictions, which take place in the process of their forming. The authors warn against the reiteration of the traditional path to macroeconomic market.
From "Man in Economy" to "Economy in Man"?
Authors: Grebnev L.
Published: March 2019

The changing proportion of science and education in the works of A. Smith, J. Mill, A. Marshall and P. Samuelson is considered in the article. The accent is also made on the shift of the economists’ attention from "the life of things" to the life of people and to the problem of its adequate reflection in the textbooks. The author makes some assumptions on the further evolution of beginner’s textbooks on the economic theory.
Strategy of the Development of the Commonwealth of Independent States
Authors: Shumsky N.
Published: March 2019

The article considers the distinctive characteristics of the Commonwealth of Independent States as a regional economic union of states on the post-Soviet space. It emphasizes major conceptual approaches to determining strategy and basic tendencies of the CIS development, perfection of organizational and legal mechanisms of member states interaction. The article examines the prospects of the CIS transformation into an efficiently functioning economic union of states.
The Dutch Disease in Russia: Macroeconomic and Structural Aspects
Authors: Fetisov G.
Published: March 2019

The article considers causes and consequences of the Dutch Disease in Russia. The author analyzes in detail the genesis of the Dutch Disease and models its beginning in the countries with non-market economy. Basing on industrial structure analysis of the Russian economy, he draws the conclusion that in mitigating the Dutch Disease one should apply not only macroeconomic, but other methods as well, covering structural and institutional transformation.
World Metallurgical Complex Development and the Stock Market
Authors: Petrosiyan A.
Published: March 2019

The evolution of the world metallurgical complex in historical perspective is considered in the article. The factors of its slowing down and rising during different historical periods are pointed out. The role of the stock market as an instrument helping to attract funds in the industry even on the first stages of its development is analyzed. The author tracks the main trends of world metallurgy development, paying special attention to Russian metallurgical companies.
Liberalism and State Capitalism (An Interview with V. Ryzhkov, deputy of RF State Duma)
Authors: Ryzhkov V.
Published: March 2019

Russia’s state capitalist economy causes abnormal forms of mutual relations of state authorities and business based on corruption and stealing of public resources. According to V. Ryzhkov, the liberal idea about a free man is characterized not only by philosophic but also by economic content. Liberalization of power and economy should provide reorientation of public expenses from coercive structures and state apparatus to science, education, health care, etc.
Overcoming “The Third Way” Concept
Authors: Evstigneeva L. , Evstigneev R.
Published: March 2019

“The Third Way” concept is still widespread all over the world. Growing socio-economic uncertainty makes the authors revise the concept. In the course of discussion with other authors they introduce a synergetic vision of the problem. That means in the first place changing a linear approach to the economic research for a non-linear one.
The World Experience of Describing and Accounting of Real Estate Objects
Authors: Mishustin M.
Published: March 2019

Real estate cadastre is considered in the article in the context of interaction with state management tools. Benefits of cadastre usage are illustrated with developed countries practice. The author analyzes the cadastre management process and technologies, estimates quality and quantity criteria proposed by modern experience of various countries. Main tendencies of the world cadastre development arise from the European Union cadastres specifics. Characteristics of real estate objects registration in developed countries and in Russia are compared.
The Time to Implement New Management Technologies (On Practical Encyclopedia “Top-manager”)
Authors: Avdiysky V.
Published: March 2019

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Stabilization Fund: Foreign and Russian Experience
Authors: Kudrin A.
Published: March 2019

The article substantiates the necessity of non-renewable resources funds creation in oil exporting countries. It also provides the analysis of results and specific features of fiscal policy as well as of oil export windfall revenues allocation in countries dependent on fluctuations of non-renewables prices. The article contains Russia’s Stabilization Fund effectiveness assessment and provides guidelines for further improvement of its mechanism.
Calculation and Application of the Real Effective Exchange Rate in the Monetary Policy Framework
Authors: Navoi A.
Published: March 2019

The theory and principles of construction of basic derived indicators of exchange rate dynamics, their economic interpretation and tendencies in the real effective exchange rates dynamics in the countries with transition economy, including Russia, are considered in the article. It is attempted to generalize the methods adopted in the international practice in calculating the real effective exchange rate, to ground the efficiency of the approaches to calculation of basic derived indicators of the rouble’s exchange rate dynamics adopted by Bank of Russia, to estimate the prospects of dynamics of the real effective exchange rate of the rouble.
A Realist Perspective on Contemporary "Economic Theory" (Foreword by O. Ananyin)
Authors: Lawson T.
Published: March 2019

The author elaborates on methodological issues of current tendencies in neoclassical theory and demonstrates the necessity of an alternative model of science, which he calls "realist". According to this perspective, constant and regular conjunctions of economic life events should not be the main object of analysis. Rather, the author proposes to consider structures and mechanisms governing events in question. Instead of deductivism, which, as Lawson believes, is a fundamental feature of orthodox economics, the abductive method of economic explanation is proposed that entails investigation of major powers, on which any social phenomenon depends. Society is thereby regarded not as a closed, but rather as an open system.
Gazprom Response: Critical Remarks Are Effective When Well Grounded
Authors: Kupriyanov S.
Published: March 2019

The author considers critical remarks contained in the article by V. Kleiner (published in the given issue of the journal "Voprosy Economiki") devoted to the analysis of Gazprom corporate governance and performance efficiency. It is noted that they lack objectiveness, incorrect and incomparable data is often used. Still the attempts by minority shareholders to improve the company’s performance are welcomed.
On Transition to Result-oriented Management at the Regional Level
Authors: Reshetnikov M.
Published: March 2019

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Fiscal and Monetary Policy under External Volatility
Authors: Gurvich E.
Published: March 2019

Specific requirements on macroeconomic policy, stemming from the impact of external volatility on trade balance and fiscal revenues are studied. Income gains or losses of the Russian economy due to variation in the commodity prices are found to range from -9 to +12% of GDP over the last decade. Contribution of the government and the Central Bank to neutralizing windfall revenues is evaluated, an approach to sharing their functions is suggested. It is demonstrated that monetary policy in the post-crisis period has been aimed rather at restraining ruble appreciation, than at smoothing the effect of external volatility. Expediency to formulate fiscal policy objectives and budget rules in terms of structural deficit (adjusted for windfall revenues) is argued.
The Market for Corporate Control and the State
Authors: Radygin A. , Malginov G.
Published: March 2019

While 2005 demonstrated a number of positive trends in the economy, its major institutional specifics became not a mere expansion of the direct state presence in a number of leading industries, but a steady tendency to its domination. The paper analyzes possible motives behind the property expansion of the state and reviews specifics of the state-owned companies’ operations on the market of corporate control and possible respective economic and institutional effects.
Corporate Governance and the Efficiency of Company’s Operation: The Case of Gazprom
Authors: Kleiner V.
Published: March 2019

The article addresses the problem of efficiency of Gazprom from the shareholders standpoint. Special attention is paid to Gazprom cost structures both on the operational side and as a part of its capital expenditures. Comparative analysis of Gazprom vs its interantional peers adds more colors to the evaluation of cost efficiency. Different behavioural patterns of previous and current Gazprom management are outlined. Basing on the investigation of Gazprom Board of Directors influence on its efficiency the article provides practical reccomendations aimed at improving relationships in the triangle "shareholders - Board of Directors - management".
Exiting Socialism Challenges
Authors: Popov G.
Published: March 2019

Exiting socialism by almost a third of the earth population appears to be the most prominent event of the late XX century. The author makes an attempt to formulate some challenges of this process and thus a theory of exiting socialism. First, he inquires into the concept of exiting socialism as it exists in the world. Then he analyzes real experiences in this field. The research enables the author to outline the main economic, governmental and social challenges of such exit - from municipal economy to science and culture.
State and Economy at the Stage of Modernization
Authors: Yasin E.
Published: March 2019

While analyzing the role of the state in the economy the author considers functions of the state at the stage of modernization, their priorities in economic policy in relation to the chosen model of modernization. The necessity of active structural policy and institutional reforms is noted. It is argued that during transition to post-industrial economy state intervention is becoming more limited.
Changing Geopolitics of the World-System, 1945-2025
Authors: Wallerstein I.
Published: March 2019

The article considers evolution of the global geopolitical structure in the second half of the 20th century using world-systems analysis elaborated by the author. On the basis of historical evidence the author makes a forecast of future development of the world economy and geopolitics for the following twenty years.
Rising Inequality in the New Global Economy
Authors: Birdsall N.
Published: March 2019

Reasons of high inequality in the modern world are considered in the article. In developing countries it interacts with underdeveloped markets and inefficient government programs to slow growth, which in turn slows progress in reducing poverty. Increasing reach of global markets makes rising inequality more likely and deepens the gap between rich and poor countries. Because global markets work better for the already rich, we should increase the representation of poor countries in global fora.
Venture Investments and Innovations
Authors: Sergienko Ya. , Frenkel A.
Published: March 2019

Using the agent relations framework the authors discuss main principles of venture investments in a market economy. The positive impact of venture capital on innovations’ quality improvement and their acceleration as well as its role in the process of new technological and informational chains’ creation are demonstrated. Limited dependence of venture investments on the dominating national financial system’s model is stated. The pivotal role of the state policy in the venture market’s formation is shown.
Venture Entrepreneurship: International Experience and the Russian Case
Authors: Matsnev O.
Published: March 2019

The article considers the international experience of venture entrepreneurship and its Russian specifics. It shows that venture financing is a promising way of scientific and technical and investment potential development of the country. The importance of business-incubators forming as the technology of venture financing support is shown. The experience of business-incubators development in the Ryazan region is described, the concept of science park creation based on a business-incubator in Ryazan is presented.
Valtukh K. K. Regularities of Short-term Economic Dynamics. Theory. Statistical Research. Critique of Macroeconomics
Authors: Polterovich V.
Published: March 2019

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Post-Keynesian Macroeconomics: Basic Perspectives
Authors: Rozmainsky I.
Published: March 2019

The paper considers basic perspectives of post-Keynesian macroeconomics. The author describes post-Keynesian views on theories of durables choice, endogenous money, financial fragility, hysteresis, conflict inflation and endogenous growth. The paper shows distinctions of post-Keynesian approach from both neoclassical tradition and other branches of Keynesianism. The author examines links between post-Keynesian macroeconomics and macroeconomics of Keynes. The paper also considers post-Keynesian views on economic policy and analyzes the relevance of post-Keynesian approach for the post-Soviet Russian economy.
The Economic Thought Through the Prism of Time
Authors: Abalkin L.
Published: March 2019

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Some Requirements for Achievement of Full Convertibility of the Ruble
Authors: Fetisov G.
Published: March 2019

The problems of when and how the ruble will become a fully convertible currency are analyzed in the article. Some requirements for achievement of its full convertibility must be fulfilled. Firstly, the ruble should become a currency of payments for Russian exports of oil and natural gas. Secondly, all restrictions on currency operations have to be abolished.
Hayek’s "Denationalization of Money": 30 Years After
Authors: Koptyubenko D.
Published: March 2019

The paper investigates the evolution of the problem of competition in the money market in economic thought. The author shows that multicurrency systems can be highly concentrated due to network effect. These conclusions are backed up with the survey of functioning of earlier and modern non-public monetary systems.
The Academician N. N. Nekrasov - the Scientist, the Citizen, the Prominent Organizer of the Soviet Science
Authors: Granberg A. , Saveliev V.
Published: March 2019

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Kuzminov Ya. I., Bendukidze K. A., Yudkevich M. M. The Course of Institutional Economics. Institutions, Networks, Transaction Costs, Contracts
Authors: Polishchuk L.
Published: March 2019

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Some Claims Made for Critical Realism in Economics: Two Case Studies
Authors: Hodgson G.
Published: March 2019

The article critically examines claims made by two prominent critical realists on behalf of their philosophy - on the Marx’s law of the tendency of the rate of profit to fall and on the workplace organization theory of the relative decline of the British economy. These two case studies raise important questions concerning critical realism in economics. The character of critical realism as a movement is also analyzed.
An Evolutionary Theory of Economic Policy. Part I: The Experience of Fast Development
Authors: Polterovich V. , Popov V.
Published: March 2019

This article presents the first part of the work on how instruments and methods of the growth promotion should change as a country approaches the level of advanced economies in terms of welfare and the quality of institutions. We describe the evolution of economic policies in Western countries and also in countries that became known as "economic miracles" during their catch up development. Our analysis allows to trace the major directions of such evolution: from import substitution to export orientation, from regulation of import tariffs to non-selective policy of the real exchange rate undervaluation, from import of technology to domestically based research and development, from creation of large companies to support of small and medium-size firms.
The Creation of Stabilization Funds: Premises and Consequences
Authors: Dmitrieva O.
Published: March 2019

The article analyzes the international experience of the stabilization funds creation, the place of these funds in the budgetary practice of Russia and other countries, their role in the monetary policy. An emphasis is put on the examination of the influence of the stabilization fund on the level of inflation (with examples drawn from Russian economic policy).
Attracting Extra-budget Investments in the Housing Sphere
Authors: Matsnev O.
Published: March 2019

The issues of attracting "long" financial resources in the housing market are considered in the article. Different mechanisms of the financing of housing construction are analyzed. The mortgage lending scheme on the base of non-government pension funds is proposed. The urgency of using housing certificates for extra-budget housing financing is noted.
Development of Land Mortgage in Agriculture
Authors: Kresnikova N.
Published: March 2019

The study focuses on the issues of development of land mortgage lending in Russia based on agricultural land as a security. The experience of other countries and institutional aspects of the Russian system of land mortgage are analyzed. In particular, data on financial schemes of land mortgage are presented as well as basic contracts of land mortgage transactions. The peculiarities of the assessment of mortgage value of land that is the subject of mortgage are considered.
Institutions of Nonprofit Credit in the Housing Sphere
Authors: Fedorova M.
Published: March 2019

The article considers new forms of the state housing policy. The author argues to establish the federal special fund to support housing mortgage debtors, to complete Tax Code of the Russian Federation with preferences for such debtors, housing cooperatives and their members.
Problems of Promoting Competitive Agriculture
Authors: Basalaeva E.
Published: March 2019

The article is devoted to the efficiency of agriculture financing in Russian Federation as one of priority national projects. The author focuses on several important problems including low personal income, price disparity in industry and agriculture, decrease in the share of domestic agriculture production in the internal market, prospects of agricultural sphere as a whole. More effective forms of expenditures distribution are recommended.
Legal Form of Joint-stock Companies and Corporate Performance in Russia
Authors: Iwasaki I.
Published: March 2019

Basing on the results of a Russia-Japan joint enterprise survey conducted in 2005, the paper examines the legal-organizational form of joint-stock companies (JSCs) in Russia. The Federal Law on joint-stock companies stipulates that JSCs should be established in one of the two different legal forms, namely "open" or "closed" companies that provide a unique institutional setting for Russian firms from the viewpoint of their corporate governance. The paper deliberates the determinants of organizational choice between these two legal forms. Then it examines empirical relations between the legal forms of JSCs and their organizational behavior.
Labor Force Potential and Market of Educational Services
Authors: Kuzmina A.
Published: March 2019

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Social and Economic Models in the Modern World and Russia’s Way. In Two Books. Book 2: Socioeconomic Models (from the International Experience)
Authors: Sitaryan S.
Published: March 2019

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The Economic Approach to the Analysis of Acquisitive Crimes
Authors: Tsurikov A. , Tsurikov V.
Published: March 2019

The article analyzes the efficiency of various forms of punishment for acquisitive crimes in the light of the economic theory of crime proposed by G. S. Becker. The authors consider Russian legislation in this context and argue for the preference of the fine sanctions over the imprisonment.
Concentrated Stock Ownership and Business Development: Empirical Evidence from Russian Companies
Authors: Dolgopyatova T.
Published: March 2019

The paper describes composition of stock ownership in Russian companies with particular attention to its concentration and effects on corporate control. Special attention is paid to business integration as important background for ownership consolidation. The paper analyzes intra-corporate relations among main actors of corporate governance and functioning of its internal tools with special focus on Board of Directors’ composition and role. The correlation between the degree of concentration and companies’ performance and modernization activities is also discussed. The research is based on large-scale survey of 822 joint-stock companies in industry and communications conducted in 2005 in 64 regions of the Russian Federation. The survey was organized within the joint Japanese-Russian project that is being implemented by scholars from the State University - Higher School of Economics and Hitotsubashi University.
Game Theory and Financial Markets
Authors: Bieta V. , Smelyanets P.
Published: March 2019

When banks engage in financial market transactions they get exposed to two different types of risk: event risk and behavioural risk. When it comes to analyzing risk situations, two different types can be identified: stochastic risk management and strategic risk management. Event risk can best be analyzed by using the stochastic approach. In contrast, behavioural risk can best be analyzed by using the strategic approach. The mathematical instrument to analyze strategic interactions of the players involved is game theory. However, now behavioural risk is being analyzed using the stochastic approach. In addition, based on historical data analysis the stochastic concepts are applied to determine all kinds of financial decisions. As a result, many banks and financial intermediaries get into trouble due to neglect of the proper risk management concepts. The paper shows that game theory may become fruitful in handling behavioural risks.
Financial Derivatives Valuation
Authors: Suetin A.
Published: March 2019

The article contains a thorough analysis of the world financial derivatives market with special reference to theoretical issues. It puts forward and traces Black-Scholes options valuation model. The author underlines particularities of advanced practical derivatives price calculation, using the math formula of the Nobel Prize winners. Some practical features of the concept and its implementation within notorious Long-Term Capital Management hedge fund are emphasized.
Shaping Wages: The Impact of Occupations
Authors: Belokonnaya L. , Gimpelson V. , Gorbacheva T. , Zhikhareva O. , Kapeliushnikov R. , Lukyanova A.
Published: March 2019

The article explores occupational wage differentiation in connection with basic individual characteristics (gender, age, education, experience) of employees. The study is based on data from the large and unique cross-section wage survey which was conducted in 2005. The authors start with considering levels and composition of pay by major occupational groups and then they analyze relationships between pay and individual characteristics. At the next step, they estimate Mincerian type earnings regressions which include observed individual characteristics. The analysis confirms that at the Russian labour market there are large premiums to education and occupation.
Gregory P. Political Economy of Stalinism
Authors: Kolomiets A.
Published: March 2019

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Ethical Aspects of Business, Economy and Politics
Authors: Kolodko G
Published: March 2019

Despite the main attention being given within the economic activity to the issues of efficiency and competitiveness, one shouldn’t oversee the ethical aspects of business and economic policy. Quite important are also the matters of truth and false in economic research. Several phenomena and processes - subsidies, dumping, weapons trading, fiscal system and policy - do have also their moral dimension, not just the economic one. Hence, the issues of ethics should be considered and discussed in a wider context. From this perspective there is still a lot to be done, especially in the countries with weak market institutions and relatively lower quality of market culture, including post-socialist countries in transition to market system.
Moral Factor of Social and Economic Progress
Authors: Bogomolov O.
Published: March 2019

The article reveals the influence of the spiritual and moral atmosphere in the society on economic development. The emphasis is put especially on the role of social confidence and social justice. The author indicates also some measures on improving the worsening moral situation in Russia.