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on Confederation of Independent States |
| By: | Kirby Faciane |
| Abstract: | This paper focuses on the multinational operations of the largest Russian business units within major economic sectors and analyzes the following: the driving forces behind the Russian companies’ internationalization; international locations of Russian capital outflow; dominant industries within Russian international corporate activities; and the main operational modes. |
| Keywords: | russia; russian investment; foreign direct investment; international corporate investment; international investment; capital budgeting; capital spending; market expenditures; kirby faciane; investment model; investment horizon; energy sector; energy investments |
| JEL: | G G0 G1 G00 G10 G12 G11 G15 G19 G20 G29 G24 G3 G30 G39 G31 G32 E E0 E1 |
| Date: | 2005–09–22 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpot:0509014&r=cis |
| By: | Kirby Faciane |
| Abstract: | This paper focuses on the multinational operations of the largest Russian business units within major economic sectors and analyzes the following: the driving forces behind the Russian companies’ internationalization; international locations of Russian capital outflow; dominant industries within Russian international corporate activities; and the main operational modes. |
| Keywords: | oil; gas; gasoline; petrol; petroleum; russia; russian investment; foreign direct investment; international corporate investment; international investment; capital budgeting; capital spending; market expenditures; kirby faciane; investment model; investment horizon; oil sector; oil and gas investments; gasoline; import; imports; exports; export; crude oil; Yukos; |
| JEL: | G G0 G1 G00 G10 G12 G11 G15 G19 G20 G29 G24 G3 G30 G39 G31 G32 E E0 E1 |
| Date: | 2005–09–22 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpot:0509017&r=cis |
| By: | Kirby Faciane |
| Abstract: | This paper focuses on the multinational operations of the largest Russian business units within major economic sectors and analyzes the following: the driving forces behind the Russian companies’ internationalization; international locations of Russian capital outflow; dominant industries within Russian international corporate activities; and the main operational modes. |
| Keywords: | russia; russian investment; foreign direct investment; international corporate investment; international investment; capital budgeting; capital spending; market expenditures; kirby faciane; investment model; investment horizon; commodities sector; industrial commodity investments; commodities; industrial investments |
| JEL: | G G0 G1 G00 G10 G12 G11 G15 G19 G20 G29 G24 G3 G30 G39 G31 G32 E E0 E1 |
| Date: | 2005–09–22 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpot:0509015&r=cis |
| By: | Kirby Faciane |
| Abstract: | This paper focuses on the multinational operations of the largest Russian business units within major economic sectors and analyzes the following: the driving forces behind the Russian companies’ internationalization; international locations of Russian capital outflow; dominant industries within Russian international corporate activities; and the main operational modes. |
| Keywords: | russia; russian investment; foreign direct investment; international corporate investment; international investment; capital budgeting; capital spending; market expenditures; kirby faciane; investment model; investment horizon; banking sector; banking investments |
| JEL: | G G0 G1 G00 G10 G12 G11 G15 G19 G20 G29 G24 G3 G30 G39 G31 G32 E E0 E1 |
| Date: | 2005–09–22 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpot:0509016&r=cis |
| By: | Albrecht Kauffmann |
| Abstract: | This paper analyses the structural change in Russia during the transition from the planned to a market economy. With regard to the famous three sector hypothesis, broad economic sectors were formed as required by this theory. The computation of their shares at GNP at market prices using Input-Output tables, and the adjustment of results from distortions, generated as side effects of tax avoidance practices, shows results that clearly reject claims that Russia would be on the road to a post-industrial service economy. Instead, at least until 2001, a tendency of "primarisation" could be observed, that presents Russia closer to less-developed countries. |
| Keywords: | Russian Federation; Deindustrialisation; Natural Resources; Conversion |
| JEL: | O14 O39 P28 H26 |
| Date: | 2005–09 |
| URL: | http://d.repec.org/n?u=RePEc:pot:vwldis:80&r=cis |
| By: | Denis Kadochnikov (Leontief Center - International Center for Social & Economic Research) |
| Abstract: | The research presented in this paper is undertaken in response to the debate on capital flight from Russia. This debate usually involves discussion of its determinants but misses the question of its ultimate effects on the economy. Lack of understanding of the economic nature of capital flight and of its institutional context leads to numerous calls for a policy response, such as stricter capital controls, which are not grounded in any theory or empirical studies, but at the same time are not opposed on theoretical grounds, with only ideological or technical arguments employed at the very best. The purpose of the paper is to examine capital flight from Russia within the institutional environment in which it occurs and to establish whether this capital flight has detrimental effect on the economy. New Institutional Economics approach is adopted to argue that in Russia’s case capital flight might be considered not just a consequence, as some researchers have argued earlier, but also an optimal solution to the institutional deficiencies with its economic role being neutral. To support the validity of this claim modified Granger non-causality test is used to determine whether capital flight dynamics have a causal effect on that of the interest rate differential and vice versa, that is to test whether price mechanism is not working. Rethinking the nature and the economic impact of capital flight allows postulating that within the existing institutional context the observed capital flight is a normal economic process which per se does not require any policy response and restricting capital flight by imposing capital controls cannot be an element of a pro-growth policy, as it would instead lead to boom-burst sort of growth. |
| Keywords: | Russia, Capital Flight, New Institutional Economics |
| JEL: | E61 F21 G18 O16 O52 |
| Date: | 2005–09–21 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpif:0509007&r=cis |
| By: | Hartmut Lehmann (University of Bologna); Norberto Pignatti (University of Bologna); Jonathan Wadsworth (University of London) |
| Abstract: | We examine the effects of economic transition on the pattern and costs of worker displacement in Ukraine, using the Ukrainian Longitudinal Monitoring Survey (ULMS) for the years 1992 to 2002. Displacement rates in the Ukrainian labor market average between 3.4 and 4.8 percent of employment, roughly in line with levels typically observed in several Western economies, but considerably larger than in Russia. The characteristics of displaced workers are similar to those displaced in the West, in so far as displacement is concentrated on the less skilled. Around one third of displaced workers find re-employment immediately while the majority continues into long-term non- employment. The wage costs of displacement for the sub-sample of displaced workers do not seem to be large. The main cost for displaced workers in Ukraine consists in the extremely long non- employment spell that the average worker experiences after layoff. |
| Keywords: | displaced workers, labor markets in transition, Ukraine |
| JEL: | J64 J65 P50 |
| Date: | 2005–09 |
| URL: | http://d.repec.org/n?u=RePEc:upj:weupjo:05-122&r=cis |
| By: | Olga Kupets (National University "Kyiv-Mohyla Academy", Kiev and IZA Bonn) |
| Abstract: | In recent years there has been much policy discussion of the impact of unemployment benefits and other factors on unemployment duration in developed and transition countries. This paper presents first evidence on the determinants of unemployment duration in Ukraine. Using individual-level data from the first wave of the Ukrainian Longitudinal Monitoring Survey (ULMS -2003), which cover the period 1997-2003, we find no significant effect of benefit receipt on exits from unemployment. However, our survival analysis confirms the hypothesis that income from casual activities or subsidiary farming has strong disincentive effect on the hazard of re-employment in Ukraine. The results also indicate that individual’s age, marital status and gender, the level of education and place of residence are significantly related to the total time spent out of work. The estimates of the baseline hazard parameters do not suggest any marked negative duration dependence. |
| Keywords: | unemployment duration, casual work, transition countries, semiparametric duration analysis |
| JEL: | J64 J68 P23 |
| Date: | 2005–09 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp1738&r=cis |