bluuebunny/crossref_metadata_2025 huggingface dataset:
Dissertation Trap on the Way of Building Innovation Economy
Authors: Zhuk A.
Published: March 2019

The paper attempts to find the solution of the problem of improving the quality of scientific research by candidate and doctor of sciences applicants with institutional economic theory research tools. The dissertation research economic institution analysis has revealed the institutional trap in its structure which distorts real goals and objectives of scientific research of young scientists. The comparative study of quantitative indexes of post-graduate system in Russia, European Union and USA is presented in the paper. The directions of modernization of post-graduate education in Russia are proposed.
French Sociologists on Capitalism (On the Book by L. Boltanski and E. Chiapello "Le nouvel esprit du capitalisme")
Authors: Kirchik O.
Published: March 2019

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Innovations in Economic Science: French Contribution for the Last 70 Years
Authors: Peaucelle I.
Published: March 2019

In the article some branches of modern economic thought are considered, in which the French researchers have made pioneering contributions. French science is characterized by its Cartesian roots as well as by the ideas of national accounting dating back to Quesnay. Over the past 70 years two parallel paths of these fundamental distinguishing features are clearly visible. One way is formed under the influence of historical, legal and psychological research. It is presented by indicative planning, experimentation in the economy, and theories of justice and regulation. The other way is determined by the inclusion of mathematics, where the French contribution can be seen in such approaches as macroeconometric modeling, the theory of disequilibrium and quantitative finance.
Clusters and Innovations in the Subjects of RF: The Results of Empirical Study
Authors: Kutsenko E. , Tyumentseva D.
Published: March 2019

According to the modern economic theory one of the most important factors of increasing the rate of innovations is cluster formation. Studies undertaken in the US and Europe confirm the significance of this factor. Nevertheless, it is unclear, to which extent the regularities observed in developed countries can be applied to transition and developing economies. This paper is dedicated to theoretical justification and empirical study of the impact of clusters on the innovation rate in the regions of the Russian Federation.
Money and Market
Authors: Gogohiya D.
Published: March 2019

Origins and functions of money, its formative role for emergence and performance of market economy are considered. Money is interpreted as a socially accepted form of wealth which role is to neutralize the impact of differences in liquidity and maintenance costs among traded goods on pricing. This approach is compared to those of classical, neoclassical and institutional economics. Rival theories of money origins are used as a background to assess controversies over contemporary fractional reserve banking. The author discusses measures aimed at preserving value of money deposits, while keeping bank credits at a moderate level.
Factors Explaining Price Decrease and Problems by Execution of Public Procurement Contracts in Russia
Authors: Yakovlev A. , Demidova O. , Balaeva O.
Published: March 2019

The main goal of the public procurement reform in Russia was to limit corruption. The government prohibited the most part of qualification criteria in the selection process and used open auctions as the main tool of contract placement. However simplification of procurement procedures led to opportunism on the side of suppliers. In this paper using the unique dataset of 2000 contracts executed in 2008-2010 for a large public customer we define the factors explaining the risk of suppliers non-performance. Econometric analysis showed that under current procurement regulation in Russia the risks of suppliers non-performance are higher for large contracts, contracts executed in October-December and contracts placed at open auctions. However contrary to anecdotal evidences, initial price decrease does not influence the performance of contractors.
An Approach to Social and Economic Assessment of Resource Regime in an Oil and Gas Sector The Case of the USA )
Authors: Kryukov V. , Pavlov E.
Published: March 2019

The paper presents an approach to quantitative estimation of socio-economic benefits from oil extraction (in the US). The approach explicitly distinguishes the contribution of non-institutional and institutional factors. Calculations show that in the United States the influence and dynamics of institutional factors are related to steady deterioration of natural conditions of oil extraction. In general, the US resource regime can be called stimulating, as is evidenced by a small proportion of adverse effects due to preservation of residual oil.
Russian Policy of Agriculture Support and the Necessity of Its Modification after WTO Accession
Authors: Uzun V.
Published: March 2019

The article deals with the features of the Russian policy of agriculture support in comparison with the EU and the US policies. Comparative analysis is held considering the scales and levels of collective agriculture support, sources of supporting means, levels and mechanisms of support of agricultural production manufacturers, its consumers, agrarian infrastructure establishments, manufacturers and consumers of each of the principal types of agriculture production. The author makes an attempt to estimate the consequences of Russia’s accession to the World Trade Organization based on a hypothesis that this will result in unification of the manufacturers and consumers’ protection levels in Russia with the countries that have long been WTO members.
Corruption in Russia: Classification and Dynamics
Authors: Mark L. , Georgyi S.
Published: March 2019

The paper analyses Russian corruption as a specific “industry” of the Russian economy that is in many important respects influenced by the political system. The latter, in turn, is also being transformed due to corruption. The authors introduce and discuss the basic concepts used in the corruption analysis: everyday corruption, business corruption, corruption markets, strategies of bribetakers etc. The authors propose a comprehensive cultural classification of the types of corruption taking into account its everyday and business aspects, property rights enforcement, vertical and horizontal relations within the power and between power, citizens, and businessmen. In view of the proposed typology corruption dynamics is analyzed, as well as the dynamics of its socioeconomic and political conditions in Russia beginning from the prerevolutionary times and up to the present day. Basing upon the data taken from the mass surveys characteristics of the markets for everyday and business corruption are estimated in dynamics and the causes for the changes in their structure are indicated.
Normative Rational Choice Theory: Past, Present, and Future
Authors: Hands W.
Published: March 2019

The paper shows that the theory of rational choice should be better understood as a normative, prescriptive, and not as a descriptive theory of human behavior. Such an interpretation amounts to claiming that there is a «normative turn» in economics. This turn means that the majority of economists no longer regards rational choice theory as an adequate description of economic activity. The author also tries to free the normative issues from ethical meanings that are commonly attributed to it in economic theory. Perspectives of the normative turn in the context of a recent development of behavioral and experimental economics are also discussed.
The Financial Significance of the Oil and Gas Sector for the Russian Economy
Authors: Eder L. , Filimonova I.
Published: March 2019

The article describes the complex of economic and financial indicators reflecting the results of Russia’s oil and gas industry in 2011. Price environment of the major energy resources with regard to their realization at the domestic and international markets is analyzed. Main indicators of economic performance of the oil and gas industry (revenue, profit, profitability) are reviewed with differentiation by companies. The authors consider the tax burden for the oil and gas companies; show their role in forming federal budget revenues. The paper presents the analysis of specialized funds and reserves that are formed at the expense of oil and gas industry sources; examines Russia’s balance of payments as well as revenues generated by oil and gas exports. The stock market structure of Russia and the world is described with consideration of particular oil and gas companies.
How to Reduce Violent Pressure on Business in Russia?
Authors: Yakovlev A.
Published: March 2019

The paper considers the factors explaining violent pressure of law enforcement agencies on businessmen in Russia in recent years. This phenomenon has been analyzed from the viewpoint of “destructive entrepreneurship” concept (Baumol, 1990) and “limited access order” framework (North et al., 2009). The paper stresses the key role of economic and political organizations in defending entrepreneurs’ interests. It proposes a number of policy recommendations on incentive system design for law enforcement agencies and development of their public communications with business and civil society organizations.
Institutional Changes: An Application
Authors: Ktsoev A.
Published: March 2019

This article examines the possibility of constructing an optimal mechanism for the distribution of subsidies in Russian agricultural sector using the theory of economic mechanisms. The effectiveness of direct state support of agricultural companies is assessed. An approach to optimize the mechanism of subsidies on the basis of the model of rankings allocation of financial resources is presented.
Closeness of a Catastrophe (On the Book by G. Pavlovsky "Brilliant Power! The Dictionary of the Kremlin Abstractions")
Authors: Orekhovsky P.
Published: March 2019

A review-essay on the book by G. Pavlovsky, dedicated to the topical issues of the modern institutional arrangement of Russia's political, economic and social system.
December Protests in Moscow through the Lenses of Historical Analogies
Authors: Yakovlev A.
Published: March 2019

Analyzing mass protest movements in different countries this paper argues that protests against electoral fraud in Moscow in December 2011 do not represent "Russian Spring", "Orange Revolution", or a new version of Perestroika. Rather they have more in common with the Progressive movement that fought political corruption in the U.S. during the early part of the 20th century. The author notes that protest movement can provide new chances for institutional reforms and social development but only if main elite groups are ready to cooperate in elaboration of new more open and more transparent "rules of the game".
Demand and Supply of Skilled Labor in Russia: Who Ran Faster? Part II
Authors: Kapeliushnikov R.
Published: March 2019

The paper examines the dynamics in demand and supply of skilled labor in the Russian economy over the transition period of 1990—2000s. It shows that despite a huge inflow of workers with tertiary education demand for such workers grew in the Russian labor market even faster. This explains why unemployment for workers with high educational attainment remained low; why returns to education continued to be high; why a proportion of college graduates who occupied low-skilled jobs decreased rather than increased. However in the next decades the correlation between demand and supply might radically change so that the Russian economy could face massive oversupply of highly educated workforce.
Models of Development Based on Technology Diffusion
Authors: Golichenko O.
Published: March 2019

The problems of multifold increase of technological potential of developing countries are considered in the article. To solve them, i.e. to organize effectively tapping into global knowledge and their absorption, the performance of two diffusion channels is considered: open knowledge transfer and commercial knowledge transfer. The models of technological catching-up are investigated. Two of them are found to give an opportunity of effective use of international competition and global technology knowledge as a driver of technology development.
Financial Crises: Sources, Manifestations, Consequences
Authors: Rustamov E.
Published: March 2019

Building on the empirical studies and financial crises theories, a general framework describing the mechanisms of crisis formation and transmission is developed. Factors of crisis formation include external and internal imbalances, shocks, deficiencies of economic policies and changes in the economic agents behavior (in particular, as concerns price bubbles formation and burst). Channels of crisis transmission include direct links between financial organizations; "negative loss spirals" arising from massive asset sales; increase in uncertainty. The framework is employed to the analysis of several crisis episodes in 1990s and 2000s (Mexican, Asian, Russian and Argentine crises). The channels of crisis transmission to the real economy are also considered. The approaches to measuring both short- and long-term impact of crises on fiscal stability and economic growth are discussed.
A Strategy of Integrated Modernization of the Russian Economy for the Period up to 2025
Authors: Akaev A.
Published: March 2019

The article presents an analysis of strategies of Russian economic modernization. The following strategies are considered: "Innovation Russia-2020" developed by the Russian Ministry of Economic Development under the supervision of A. N. Klepach; "Strategy-2020" developed under the supervision of the Rector of the Russian Presidential Academy of National Economy and Public Administration V. A. Mau and the Rector of the National Research University "Higher School of Economics" Ya. I. Kuzminov; Russian Economy Modernization Strategy proposed by academician V. M. Polterovich; Strategy of Advance Development of Russia suggested by academician S. Yu. Glaziev, and the Balanced Development Strategy developed by academician R. I. Nigmatulin. The article also presents a strategy of modernization basing on innovation-technological breakthrough developed by the author of the present article. In conclusion the article suggests ways to synthesize relevant models and ideas of the abovementioned strategies and develop a strategy of integrated (according to the classification proposed by prominent Chinese economist He Chuantsi) modernization of the Russian economy for the period up to 2025.
Scientific Testament of Ya. A. Kronrod (to the Centenary of His Birth)
Authors: Kuznetsova T. , Mozhaiskova I.
Published: March 2019

The article is devoted to the memory of a prominent Soviet economist Ya. Kronrod. His views on the drawbacks of the Marxist doctrine of social development are presented. The reconstruction of Kronrods reflections on the fates of the socialist idea, democracy and civil society allows to better understand social processes in present-day Russia.
Some Specific Features of Electronic Trade: From the "Myths" to the "Effect of Sliding"
Authors: Dianova T.
Published: March 2019

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Whats Wrong with Economic Models? A Response to John Kay
Authors: Woodford M.
Published: March 2019

The article is a response to a polemical essay of J. Kay and his critique of macroeconomic modeling. The author shows that models are an indispensable instrument of economic analysis and that the only alternative would be the formulation and estimation of structural relationships between macroeconomic aggregates. But such a project is doomed to failure, because it does not account for the expectations of economic agents. However, as the author admits, the critique of rational expectations concept is justified. He shows possible directions that a more realistic analysis of ecpectation could take.
Golichenko O. G. Main Factors of National Innovation System Development: Lessons for Russia
Authors: Ivanova N.
Published: March 2019

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On the Validity of the Theoretical Bases of Inflation Targeting and New Keynesian General Equilibrium Models
Authors: Plushchevskaya J.
Published: March 2019

The latest world economic and financial crisis highlighted problems in macroeconomic policies pursued by developed economies as well as the necessity of searching for an effective regulatory framework. In particular, doubts have occurred in the indisputability of advantages of inflation targeting and its theoretical basis: the New Keynesian dynamic stochastic general equilibrium models. The reason for doubts lies mainly in the lack of confidence in the new neoclassical synthesis propositions which form the basis for the modern monetary theory and structural modelling. The article reveals close links between contemporary mainstream economics, inflation targeting and New Keynesian dynamic stochastic general equilibrium models, concentrates on controversial points of the theory which bring into question applicability of the monetary policy regime and the models, and finally, outlines further research agenda.
Spatial Development as a Modernization Driver for the Republic of Kazakhstan
Authors: Afontsev S. , Zubarevich N.
Published: March 2019

The questions of spatial development as a modernization driver (the Kazakhstan case) are considered in this article. The analysis of the regional economic differences makes possible to work out the development guidelines, based on the advantages combination of the basic goods specialization and the policy of transferring growth impulses from the raw materials sector to the industry and service ones. Current challenges and opportunities, which face the Kazakhstan economy, the questions of economic diversification drive up the importance of the connection between spatial development and the cluster priorities. The analytical scheme of macro-regions and diversification through the dynamic focal networks can settle up these challenges.
Social Policy in the European Public Opinion: An Implicit Contract between State and Society
Authors: Monusova G.
Published: March 2019

Using the cross-country ESS (2008) data file, the author explores welfare attitudes of population of European countries, the demand for social policy, the willingness to participate in its financing, and the difference between these two parameters. The paper argues that expectations associated with social policy and willingness to accept higher taxation in order to receive more benefits as well as the gap between these two depend on institutional characteristics of the countries that constitute the factors of fiscal illusion. Poor institutions and the lack of transparency in fiscal and social policies feed corruption and fiscal illusion, therefore generating misperceptions and free rider behavior.
The Role of Trust and Control Institutions in Informal Monetary Transactions
Authors: Lyasko A.
Published: March 2019

Auxiliary institutions fail to perform the function of protecting economic agents trust in the liquidity of various monetary obligations. Still, despite these conclusions, there exist some forms of monetary arrangements that seemingly demonstrate a high level of trust among their participants. The durability and continuous reproduction of these monetary arrangements in both developing markets and mature economies need to be explained. Part of this explanation has to address the question of trust arising among the parties to these financial transactions and its role in preventing opportunism and breach of promises made by their participants. As shown in this paper, a possible answer to this question might consist in the argument that the protective role of trust in these financial arrangements is replaced by the opposite norm of control over the agents behavior within close-knit social and economic communities. The degree of control may vary, but control always crowds out trust in order to add reliability to these financial setups.
The Priorities of the Institutional Reforms in Economic Modernization
Authors: Auzan A. , Satarov G.
Published: March 2019

The aspects of institutions influence on economic growth and the priorities of their development are studied in the article. Two complementary analytical techniques are suggested. The first one, based on the discrete institutional alternatives method, is aimed at the "institutional design" determination of the national consensus about the long-term development objectives. The second, based on the growth indicators correlation analysis, makes possible to find out the sequence of the institutional reforms in the mid-term period.
World Economy in the Long Term: Growth Strategies for the Major Actors
Authors: Apokin A.
Published: March 2019

This paper analyzes the approach to the global imbalances (and probable global savings deficit) problem in the light of long-term interests of each global actor. It outlines three long-term trends that will change the growth landscape in twenty years to come. Those are population ageing, the rise in household consumption for large developing economies and the next phase of moving production to developing economies. Key long-term interests and structural problems for three key actors — US, EA and China - are identified. The author outlines two long-term scenarios (inflation versus restructuring) of the excess debt and probable savings deficit (a part of the global imbalances problem). The analysis suggests that currently the world economy is on the path to gradual debt restructuring, implying a long period of low economic growth rates.
Macroeconomic Preconditions of Realizationof a New Growth Model
Authors: Drobyshevsky S. , Sinelnikov-Murylev S.
Published: March 2019

The model of the Russian economy that was formed in 2000s does not match a new stable growth path, though it helped to calmly overcome the crisis of 2008 and 2009. The state needs to provide stability in the fields being under its direct control: in the budget and monetary policy. In the budget policy we consider advantages and drawbacks of a New Budget Rule, which is based on long-term average price of oil. In the monetary sphere we vote for the policy of transition to inflation targeting and priority of low inflation against other goals of monetary authorities.
Competition on Innovation Markets:Peculiarities of Definition and Analysis
Authors: Sokolova E.
Published: March 2019

The article aims to define the main peculiarities of competition analysis in case of innovation markets. Using the example of Apples iTunes Store antitrust suit, the main characteristics of the development of knowledge-based industries are applied to the analysis.
The Lessons of Essentials of Economicsby P. Krugman
Authors: Grebnev L.
Published: March 2019

The paper reviews the textbook Essentials of Economics by Paul Krugman and his co-authors from the point of view of its relevance for the Russian education system. It also compares this textbook with similar books by P. Samuelson and N. G. Mankiw. The author emphasizes a high didactic value of Krugmans book for teaching in the context of the student-oriented paradigm of education. The absence of significant substantial differences from the earlier textbooks is emphasized.
Leverage and Financial Instability
Authors: Smirnov A.
Published: March 2019

In the paper some prominent features of a modern financial system are studied using the model of leverage dynamics. Asset securitization is considered as a major factor increasing aggregate debt and hence systems uncertainty and instability. A simple macrofinancial model includes a logistic equation of leverage dynamics that reveals origins of a financial bubble, thus corresponding closely to the Minsky financial instability hypothesis. Using ROA, ROE, and the interest rate as parameters, the model provides wide spectrum of leverage and default probability trajectories for the short and long run.
The Future of the Pension System: Parametric Reformsor the Change of a Paradigm?
Authors: Nazarov V.
Published: March 2019

The main aim of the paper is to reveal philosophical drawbacks of the current paradigm of the pension system. The main conclusion is that pension system as unified mandatory salary insurance is transforming into hybrids of free-will private savings and investments in human capital and government poverty insurance. Socially and politically acceptable measures of the pension system transformation are described in the paper
Theory of the Firm and Strategic Management
Authors: Storchevoy M.
Published: March 2019

M. Storchevoy. Theory of the Firm and Strategic Management The paper considers the approaches to the theory of the firm developed by strategic management scholars: positioning theory, resource-based view, dynamic capabilities approach, knowledge-based view, strategic theory of the firm, as well as open innovations theory. The author shows how the ideas of these scholars correspond to the economic theory of the firm and demonstrates that there is little ground for existence of an autonomous “strategic theory of the firm”, but some concepts from strategic management literature may expand and enrich the economic theory of the firm.
Economic Evaluation of Human Losses from Disasters
Authors: Porfiriev B.
Published: March 2019

The paper overviews the existing methodologies for evaluating economic losses incurred by untimely and additional deaths provoked by natural and technological disasters. It also reveals the improved methodology of such an assessment based on welfare theory and international comparisons approach, and outcomes of the case study using this methodology for calculating economic value of human losses from heat waves and wildfires’ impact on the Moscow region. Special attention is paid to substantiation and recommendations to provide correctness of such evaluation to improve its legal and methodological bases in Russia using international experience of calculation of statistical life value.
What Kind of Economy does Russia Need and for What Purpose? (An Attempt of System Analysis)
Authors: Kleiner G.
Published: March 2019

Requirements for the economy as a subsystem of society are examined in the article, based on the analysis and development of the four-element model of society as the arena of interaction between state, socium, economy and business. Using the results of the new theory of socio-economic systems, we define the quality that the economy should have to meet the demands placed upon it by other macro-level subsystems. Among these qualities — diversification of the economy with respect to workplaces and business opportunities provided by implementing investment projects.
Uncertainty, Probability, Ethics: J. m. Keynes, l. mises, and f. Knight
Authors: Makasheva N.
Published: March 2019

The paper aims at tracing the connections between the ideas of Keynes, Knight and Mises on uncertainty and probability. It also studies the links between their economic ideas, ethical presuppositions, and practical implications they drew from their respective theories. Both similarities and differences are found, influenced for the large part by the context of dealing with the problems discussed.
Liberal Political Economy And Philosophy Of James Buchanan
Authors: Zaostrovtsev A.
Published: March 2019

The article examines the scientific legacy of the Nobel Prize-winning economist James Buchanan (1919—2013). The focus is on the evolution of his views on constitutional political economy. The article shows the displacement of Buchanan’s preferences from the expansion of inclusiveness of collective choice rules and the number of constitutional constraints to the generality principle — a non-discriminatory democracy as a means to counteract majoritarian democracy failures. It is concluded that finally Buchanan adopted radical subjectivism of the Austrian economic school and post-Keynesianism embodied in the concept of constitutionally limited evolution.
Economics versus politics: pitfalls of policy advice
Authors: Acemoglu D. , Robinson J.
Published: March 2019

The standard approach to policy making and advice in economics implicitly or explicitly ignores politics and political economy and maintains that if possible, any market failure should be rapidly removed. This essay explains why this conclusion may be incorrect; because it ignores politics, this approach is oblivious to the impact of the removal of market failures on future political equilibria and economic efficiency, which can be deleterious. We first outline a simple framework for the study of the impact of current economic policies on future political equilibria — and indirectly on future economic outcomes. We then illustrate the mechanisms through which such impacts might operate using a series of examples. The main message is that sound economic policy should be based on a careful analysis of political economy and should factor in its influence on future political equilibria.
Pyramid of Factors of Regional Socio-Economic Development
Authors: Kuznetsova O.
Published: March 2019

Basing on synthesis of earlier conducted research of regional development trends and factors the author offers a model of hierarchy of factors, similar to Maslow’s hierarchy of needs. The proposed pyramid shows that federal regional policy is needed when there is a significant difference in basic factors (e.g. underdeveloped infrastructure). The regional grass-roots policy becomes essential when the regional development starts to depend more on such factors as creativity of the population. The author concludes that in today’s Russia the regional policy from the top is of high priority.
Uneven Spatial Development in Russia: Explanations of New Economic Geography
Authors: Kolomak E.
Published: March 2019

We study the dynamics of inter-regional disparities for a number of characteristics of development, test the hypothesis of the new economic geography. The empirical analysis shows the spatial concentration of economic activity is continuing in Russia and the rate of inter-regional divergence, is rather high. The factors of the spatial concentration and regional disparities in Russia are population density, size and accessibility of markets, as well as the level of diversification and industry structure of the economy.
Russia’s Human Capital: What Is It Worth? Part II.
Authors: Kapeliushnikov R.
Published: March 2019

After discussing in the first part of the paper alternative approaches to measuring the value of the stocks of human capital its second part provides empirical estimates of Russia’s human capital based on the lifetime income approach. The results show that using an annual discount rate of 4 per cent and assuming annual growth in real earnings of 5.2 per cent, the market value of Russia’s human capital stock in 2010 was more than 600 trillion rubles, or nearly 40 trillion US$ by PPP. In 2002—2010 its stock doubled in real terms. Ratio of human capital to GDP was around 13 and its ratio to physical capital was more than five. In 2010, the average human capital stock per head of working age population amounted to 6 million rubles, or about 380,000 US$ by PPP.
Why Was the Arab World Poised for Revolution? Schooling, Opportunities, and the Arab Spring
Authors: Campante F. , Chor D.
Published: March 2019

What underlying long-term conditions set the stage for the Arab Spring? In recent decades, the Arab region has been characterized by an expansion in schooling coupled with weak labor market conditions. This pattern is especially pronounced in those countries that saw significant upheaval during the first year of the Arab Spring uprisings. We argue that the lack of adequate economic opportunities for an increasingly educated populace can help us understand episodes of regime instability such as the Arab Spring.
National Champions and the Competitive Structure of the Russian Banking Market
Authors: Vernikov A.
Published: March 2019

We assess the effect that the industrial policy of growing state-controlled national champions in Russia had on concentration and competitiveness of the banking system in 2000—2012. A modified method of calculating the indicators of market concentration suggests that the main segments of the market have crossed the threshold of high concentration, whereas the household deposits market has approached a monopoly situation. Supremacy of public banks enhances their market power and enables collecting rent that boosts profitability. We suggest that Russia’s industrial policy in banking might be similar to that of China.
On Scientific Value of russian Journals in Economics and related fields
Authors: Muravyev A.
Published: March 2019

In this paper we attempt to classify Russian journals in economics and related disciplines for their scientific significance. We show that currently used criteria, such as a journal’s presence in the Higher Attestation Committee’s list of journals and the Russian Science Citation Index (RSCI) impact factor, are not very useful for assessing the academic quality of journals. Based on detailed data, including complete reference lists for 2010—2011, we find significant differentiation of Russian journals, including among those located at the top of the RSCI list. We identify two groups of Russian journals, tentatively called category A and B journals, that can be regarded as the most important from the viewpoint of their contribution to the economic science.
Economic Incentives and Social Preferences: Substitutes or Complements? (Part 1)
Authors: Bowles S. , Polanía-Reyes S.
Published: March 2019

Explicit economic incentives designed to increase contributions to public goods and to promote other pro-social behavior sometimes are counterproductive or less effective than would be predicted among entirely self-interested individuals. This may occur when incentives adversely affect individuals’ altruism, ethical norms, intrinsic motives to serve the public, and other social preferences. The opposite also occurs—crowding in — though it appears less commonly.
Private Health Care Sector in Russia:Present State and Development Prospects
Authors: Shishkin S. , Potapchik E. , Selezneva E.
Published: March 2019

The private sector which has emerged in the Russian health care system has become a competitor to the public one and has pulled a part of effective demand of the middle class. It has developed out of the public health care financing system. Depending on the policy of the state towards modernization of health care, the private sector can continue to grow as an alternative to the public one, but it can be a tool of modernization and an organic part of an integrated health care system.
Problems of the US Economic Policy
Authors: Klinov V.
Published: March 2019

How to provide for full employment and equitable distribution of incomes and wealth are the keenest issues of the U.S. society. The Democratic and the Republican Parties have elaborated opposing views on economic policy, though both parties are certain that the problems may be resolved through the reform of the federal tax and budget systems. Globalization demands to increase incentives for labor and enterprise activity and for savings to secure proper investment rate. Tax rates for labor and enterprise incomes are to be low, but tax rates for consumption, real estate and land should be progressive.
Non-Public Monetary Systems in information Economy
Authors: Krasilnikov O. , Krasilnikova E.
Published: March 2019

The article discusses the development of non-public monetary systems (NPMS), defined as a specific economic institution. It presents their comparison with public money systems depending on the size of transaction costs. The authors come to the conclusion that in conditions of the information economy on the basis of Internet-technologies NPMS receive a new impetus to their development and can make serious competition in regard to public monetary systems.
Will a New Model of Economic GrowthTake Place in Russia?
Authors: Yasin Y. , Akindinova N. , Yakobson L. , Yakovlev A.
Published: March 2019

Given the present level of institutional quality and the significant role of the government sector in the economy, the Russian Federation has depleted the potential of the current model of growth which is based on commodity exports. The dramatic deceleration of the GDP growth rate down to less than 2% in the end of 2012 and the beginning of 2013 bears the evidence to this proposition. At the moment, the government considers the choice between expansionist and conservative scenarios, which both lie on the assumption of long-term conservation of existing imperfect institutions. However, according to our estimates, it is impossible to create a new model of growth ignoring the role of private initiative, healthy institutions of market economy and investment in human capital. We distinguish two groups that are increasing their influence nowadays and can potentially become the driving force of a new model of Russian economic growth: “new business”, dynamic companies that are oriented at the development in the market conditions but lack incentive to invest within existing institutional framework; “new bureaucracy”, consisting of progressive regional elites, who are interested in the development of their area, and efficient professionals of the federal level.
Factors of economic development and structural reforms in Russia
Authors: Zuev V.
Published: March 2019

The article describes issues of structural reforms implementation in Russia directed at forming favorable institutional environment and business climate, as well as macroeconomic financial stability. The author analyzes the derivatives market, compared with the world’s GDP and considers regularities for the global market of mergers and acquisitions as modern crisis indicators in the global economy. The state of the Russian economy, the balance of payments of RF, international investment position and other macroeconomic parameters are analyzed, as well as the influence of cross-border capital flows and the demographic factor on sustainable development of the Russian economy. A model of the system of managing sustainable socio-economic development together with participation of development institutions is presented.
Designing public transportationtariff scale by modeling demand (the case of moscow region commuter railway)
Authors: Dodlova M. , Kiselgof S. , Menyashev R. , Sorokin K. , Khmelnitskaya E. , Chernina E.
Published: March 2019

Currently fares on public transport in Russia are calculated on the basis of carrier’s costs. The subsidies and tariffs are annually approved by the regulator on the basis of the costs’ structure. This paper presents another approach to the determination of tariffs, which is widespread in developed countries. It is based on modeling passengers’ reaction to fares and is able to create appropriate incentives for the carrier. We apply it to the case of commuter rail pricing in Moscow region. To do this, we model the revenue function and evaluate people’s reaction to fares to find an optimal tariff menu. These results can form the basis of a new methodology of tariff regulation of public transport in Russia.
Mechanisms of Global Governance: Economic Analysis
Authors: Grigoryev L. , Kurdin A.
Published: March 2019

The coordination of economic activity at the global level is carried out through different mechanisms, which regulate activities of companies, states, international organizations. In spite of wide diversity of entrenched mechanisms of governance in different areas, they can be classified on the basis of key characteristics, including distribution of property rights, mechanisms of governance (in the narrow sense according to O. Williamson), mechanisms of expansion. This approach can contribute not only to classifying existing institutions but also to designing new ones. The modern aggravation of global problems may require rethinking mechanisms of global governance. The authors offer the universal framework for considering this problem and its possible solutions.
The Impact of related Variety in Exporton Economic Development of russian regions
Authors: Kadochnikov S. , Fedyunina A.
Published: March 2019

In this paper we study the linkage between export structure and economic development in Russian regions. We conjecture that not only export variety per se , but export variety of related products, located at a small distance in the product space, significantly contributes to economic growth. Empirical analysis highlights the importance of the product space density around products with comparative advantage for economic growth in Russian regions during 2003—2008. We conclude that the presence of industry variety in a region facilitates economic development.
How to secure external sustainability of the russian economy
Authors: Gurvich E. , Prilepskiy I.
Published: March 2019

The paper looks into emergence of external imbalances and economy’s adjustment to them. We find that Russian economy adjusts mainly via increase or decrease of domestic demand (resulting in substantial risks and losses of production), while capacity of adjustment via exchange rate channel is very limited. Another conclusion is that long-term growth rate compatible with external sustainability amounts to just 2,2%. Any attempts to boost growth above this level, not supported with profound structural reforms, would entail regular painful crises, reverting economy to the two-percentage growth trajectory.
Behavioral Economics and New Paternalism. (Part I)
Authors: Kapeliushnikov R.
Published: March 2019

Работа посвящена критическому анализу нормативной программы поведенческой экономики, известной как «новый» патернализм. В первой части работы обсуждаются его теоретические предпосылки, описываются наиболее важные поведенческие аномалии, связанные с ограниченной рациональностью экономических агентов, анализируются нормативные установки и политические рекомендации сторонников этого подхода.
FINANCIAL MARKETS EFFICIENCY(NOBEL MEMORIAL PRIZE IN ECONOMICS 2013)
Authors: Sverchkov R. , Sonin K.
Published: March 2019

The paper describes the main contributions of the 2013 Nobel Prize winners in economics E. Fama, R. Shiller and L.-P. Hansen in the analysis of the financial markets efficiency. Discussed are the very idea of the impossibility to systematically gain riskless profits in the short- and long-term perspectives, the fomalizations of this idea in the key asset pricing models, methods of testing these models, and the theory of behavioral finance as one of the explanations of the inefficiency and irrationality of financial markets. A short overview of the research dealing with the efficiency of Russian stock market is also given.
Theory of the firm, Supply Chain management, and relationship marketing
Authors: Storchevoy M.
Published: March 2019

The paper studies through the lens of the economic theory of the firm the development of two managerial disciplines: supply chain management and relationship marketing. The author demonstrates which ideas have been borrowed by these disciplines from the economic theory of the firm, and in what extent their implications may be useful for the latter.
Contemporary Experience and the Resultsof agrarian reforms in China and russia
Authors: Buzdalov I.
Published: March 2019

The comparative social and economic analysis of character and consequences of agrarian transformations in China and Russia is presented in the article. It is shown that, unlike China, the agriculture of Russia continues to remain in conditions of the deep system crisis creating a serious threat to food and general national security of the state. Ways out of this crisis are grounded. Special attention is paid to using the Chinese and broad foreign experience on providing priority of the rural development, changes necessary for this purpose in agrarian policy, the system of state regulation and farm management.
Inflation Targeting: Fix It, Don’t Scrap It
Authors: Woodford M.
Published: March 2019

The paper analyzes the recent suggestions to abandon inflation targeting. The author shows that the idea of an inflation target should still be an inherent element of macroeconomic stabilization policy, but the practice of inflation targeting should be improved following the post-crisis realities. The key goal would be to maintain public confidence in the activities of the central bank.
Trade and industrial aspects of regional integrationin Russia: Solidity Evaluations and Possibilitiesfor Strengthening
Authors: Gusev A. , Yurevich M.
Published: March 2019

The paper focuses on regional economic integration provided by interregional railway freight. The analysis reveals two realized models of spatial integration: “all-with-all” and “hauberk”. A set of indicators for regional integration evaluation is proposed and verified with statistical data. The ranking of regions by their integration performance is presented. It discovers a macro-region of higher integration impact that consists of 5 neighboring regions of the Ural and Volga federal districts. Special government support is suggested for macro-regions of this kind.
The Estimation of academic rent
Authors: Balatsky E.
Published: March 2019

The article discusses the phenomenon of academic rent, specifies the main aggregates of the concept. The author proposes the method for determining the value of immaterial part of academic rent, based on interviews with experts from leading Russian universities. The article presents the results of surveys and applied calculations, which show a gradual decrease of the academic rent volume. This new concept is used to explain several paradoxes of the Russian market of higher education. The transition of the university system from the model of academic rent to the model of scale’s effect is proved.
The Contours of a New Economic Space
Authors: Evstigneeva L. , Evstigneev R.
Published: March 2019

Intensifying crisis of the world economy, including the Russian one, warns against using stereotypes that have not brought by now to constructive results. The paper grounds the necessity of cardinal theoretical revising the ongoing economic processes. The authors pay attention to four main items of the current economic situation that are to be solved immediately. The country must, first, consider the economy as a part of common cultural landscape. Second, it ought to use the chance for reorientation of the economy from external markets alone to creating large internal market niches. Third, it should implement the transition to quant economic growth with a notion of potential as a leading one; in the course of analyzing this problem the portion concept of electronic arc developed by academician G. Mesyats has been used. Fourth, the complication of market and changing parameters of economic space getting much more many-tier ought to be taken into account by policymakers.
Public goods and Public interests:Is There a Connection?
Authors: Tambovtsev V.
Published: March 2019

The paper is aimed to analyze the validity of statements encountering in the literature that the content of objective public interests are public and merit goods, and that features of these ones determinate the necessity of public budgeting for these goods’ provision. The history of the aforementioned notions and their role in the public finance theory development are analyzed. It is shown that the linkage between public goods and public interests is postulated but its practical verifications are absent.
Global Crisis And Trends Of Economic Development
Authors: Mau V. , Ulyukaev A.
Published: March 2019

Global crisis forms new economic policy agenda which raises new questions for economic theory and economic thinking. The paper deals with these new intel- lectual challenges. Among them: growth theory and ricks of secular stagnation, unconventional macroeconomic policy and risk of financial stability, inequality and growth, new welfare state, prospects of globalization vs. deglobalization, and prospects of reindustrialization in advanced economies.