nep-cis New Economics Papers
on Confederation of Independent States
Issue of 2013‒07‒15
four papers chosen by
Alexander Harin
Modern University for the Humanities

  1. Fiscal policy and regional output volatility: Evidence from Russia By Eller, Markus; Fidrmuc, Jarko; Fungácová , Zuzana
  2. North Caucasus in 2012: Results and Risks By Konstanin Kazenin
  3. Time to BRIC It? – Internationalization of European Family Firms in Europe, North America and the BRIC Countries By Vivien Procher; Diemo Urbig; Christine Volkmann
  4. Georg von Charasoff´s Theory of Value, Capital and Prices of Production By Thomas Huth

  1. By: Eller, Markus (BOFIT); Fidrmuc, Jarko (BOFIT); Fungácová , Zuzana (BOFIT)
    Abstract: This paper investigates the relationship between fiscal policy and output volatility in Russian regions between 2000 and 2009. System GMM estimation techniques are used to account for potential endogeneity between output volatility and fiscal developments. Our main finding is that fiscal activism, proxied by various measures of discretionary fiscal policy, contributes to output volatility and so induces macroeconomic instability at the regional level in Russia. This result corroborates previous studies using cross-country data. To reduce business cycle fluctuations, it would be necessary to curtail pro-cyclical fiscal activism at the regional level, e.g. via fiscal rules and sound institutions of fiscal federalism.
    Keywords: output volatility; automatic stabilizers; discretionary fiscal policy; dynamic panel models; Russia
    JEL: E32 E62 R11
    Date: 2013–06–17
  2. By: Konstanin Kazenin (Gaidar Institute for Economic Policy)
    Abstract: The author deals with the a wide scope of issues related to the North Caucasus region of the Russian Federation. He provides an in depth analysis of the national movement as well as investment projects and local communities interests.
    Keywords: Russian Federation, North Caucasus
    JEL: P26
    Date: 2013
  3. By: Vivien Procher; Diemo Urbig; Christine Volkmann
    Abstract: For a sample of 1243 European companies, we analyse the link between firm type and foreign direct investment (FDI) locations. We find substantial empirical evidence that being a family firm does not only affect the overall propensity for FDI but that this effect is also specific to target regions. Overall, family firms invest more than managerial-led firms, particularly in Europe and North America. Furthermore the BRIC countries Brazil, Russia, India and China do not constitute a homogenous attractiveness cluster for FDI.
    Keywords: Foreign direct investment; family firms; BRIC
    JEL: D21 F23 L22
    Date: 2013–05
  4. By: Thomas Huth (Leuphana University Lueneburg, Germany)
    Abstract: The present paper on the now partly well known Russian mathematician and “amateur economist” v. Charasoff was originally written in 1987 together with H. Duffner three years after Charasoff’s remarkable contribution of 1910 “Das System des Marxismus” (The system of Marxism) had been rediscovered by the Italian economists Gilibert and Egidi. It was then the second mathematical formulation of Charasoff’s contribution on prominent but partly still unresolved topics in Marxian economics. However, though our paper circulated as mimeo it had not been published in a regular journal of economics. Meanwhile, several contributions on Charasoff appeared by such authors as Egidi, Gilibert, Kurz and Salvadori, Stamatis and Mori. But none of them seems to deal with Charasoff’s economics in an exhaustive manner. Therefore and nevertheless, the paper may be still of some interest to the, nowadays regrettably rather narrow, audience of economists specialized in linear models of production, Marxian economic theory and Neoricardianism.
    Keywords: Marxian economics, labor theory of value, transformation problem, prices of production
    JEL: B14 B51 C67 D24
    Date: 2013–06

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