nep-cis New Economics Papers
on Confederation of Independent States
Issue of 2013‒09‒24
eight papers chosen by
Alexander Harin
Modern University for the Humanities

  1. Russian Agriculture and Agricultural Policies in 2012 By Natalia Karlova; Natalia Shagaida; Vasily Uzun; Renata Yanbykh
  2. Features of the Public Procurements of Innovation Products in Russian and the World By Sergey Belev; Olga Boldareva; Ilya Sokolov; Anna Zolotareva
  3. Russia’s State Budget in 2012 By Sergey Belev; Tatiana Tischenko; Ilya Sokolov
  4. The Nature of Innovation Channels at the Micro-Level: Evidence from Russian Manufacturing Firms By Simachev, Yuri; Kuzyk, Mikhail; Feygina, Vera
  5. Behavioral Biases and Corporate Decision Making on Investing Abroad By Kotov, Denis
  6. North Caucasus in 2012: Results and Risks By Irina Starodubrovskaya
  7. Capital Account Policies in Chile Macro-financial considerations along the path to liberalization By Yan Carriere-Swallow; Pablo Garcia-Silva
  8. Коррупция, демократия и регуляторная эффективность государства By Filippova, Irina

  1. By: Natalia Karlova (Gaidar Institute for Economic Policy); Natalia Shagaida (Gaidar Institute for Economic Policy); Vasily Uzun (Gaidar Institute for Economic Policy); Renata Yanbykh (Gaidar Institute for Economic Policy)
    Abstract: At present about 4% of Russia’s GDP is generated in agriculture; however, the sector still accounts for 9.7% of the total number of employed in domestic economy with 26% of the country’s population living in rural areas. The latter indicator has remained actually unchanged throughout the 10 recent years.
    Keywords: Russian economy, agriculture, food market, agricultural policy, Russia's accession to WTO
    JEL: Q13 Q14 Q15 Q16 Q17 Q18
    Date: 2013
  2. By: Sergey Belev (Gaidar Institute for Economic Policy); Olga Boldareva (Gaidar Institute for Economic Policy); Ilya Sokolov (Gaidar Institute for Economic Policy); Anna Zolotareva (Gaidar Institute for Economic Policy)
    Abstract: This paper presents an in-depth analysis of the legal basis and the elements of the institutional environment of public procurements of innovations produce in Russia and the world. Authors analyze procurement procedures for complex and hi-tech products. They determine ways for the development of Russian procurement legislation regarding procurement of innovation products.
    Keywords: Russian economy, public procurement, innovations, innovation products
    JEL: H57 H44
    Date: 2013
  3. By: Sergey Belev (Gaidar Institute for Economic Policy); Tatiana Tischenko (Gaidar Institute for Economic Policy); Ilya Sokolov (Gaidar Institute for Economic Policy)
    Abstract: This paper deals with 2012 Russia's state budget. Authors speak about general characteristics of the budget system in Russia. They analyse revenues from major taxes and main parameters of the federal budget in 2012 and for 2012-2014, explain budget expenditures and give prospects of the budgetary and tax policy in Russia..
    Keywords: Russian economy, state budget, tax revenues, budget system, fiscal policy
    JEL: E62 H20 H50 H61 H70
    Date: 2013
  4. By: Simachev, Yuri; Kuzyk, Mikhail; Feygina, Vera
    Abstract: The main purpose of the paper is to analyze different channels for innovations. We analyze the influence of various incentives for innovation in Russian companies taking into account the organization of industries — vertical or horizontal orientation, peculiarities of corporate demography, role and motives of different owners (including government and foreign investors), demand trends, customers‘ profile, nature and intensity of competition in relevant markets. An empirical base for our study is provided by two surveys of Russian industrial companies conducted in 2011 and 2012. One of our hypotheses: in vertically organized sectors that define innovation activeness in the economy (for example, mechanical engineering), the innovative development of the head producers is constrained by the risk of technological gap with its partners in the supply chain. We find out that innovations in Russian industry spread in accordance with two main models: vertical through corporate connections, and horizontal, based on the example of foreign companies in the atmosphere of developed competition.
    Keywords: innovation, industrial organization, supply chain, innovation channels
    JEL: D22 L2 O31
    Date: 2013–07–30
  5. By: Kotov, Denis
    Abstract: In this paper we have studied the role of biases in making corporate decisions on investing abroad. We have formulated four conditions under which a corporate investment decision is least exposed to the influence of heuristics. Failing to comply with some conditions of a precise investment performance leads to a situation of a high uncertainty and complexity that demands an intuitive thinking from a decision maker and, as a result, stimulates using the rules of thumb. Further, we have discussed possible measures for the mitigation of the negative influence of heuristics. For an indicative estimation of a degree of biases an ex-ante/ex-post risk perception matrix has been proposed. The study is supported by the results of a survey made in 2008 and structured interviews taken in the spring and the summer of 2013. The survey was carried on among German firms doing business in Russia. Interviews covered not only investments to Russia, but also investments of Russian investors in Europe as well as transatlantic foreign direct investments made in the last three years.
    Keywords: biases; heuristics; investment decisions; foreign direct investments; decision-making process
    JEL: D81 F21 L2
    Date: 2013–09
  6. By: Irina Starodubrovskaya (Gaidar Institute for Economic Policy)
    Abstract: In December 2012, the Russian government adopted the "Programme for the Development of the North Caucasus Federal District (NCFD) up to 2025" (hereinafter referred to as the Programme). The total funding up to 2020 was approved at a level of 2.55 trillion RUR, and it was determined that the state budget would provide 10% of the funds, while 90% should be made up from investor funds. Note that this proportion is roughly consistent with the principle of distribution of budgetary and non-budgetary finance adopted earlier for some of the projects implemented under the Programme. Thus, of the total costs of holiday resort construction projects in the North Caucasus, 60 billion rubles out of 510 billion rubles will be financed from the budget (through the project operator: Resorts of the North Caucasus JSC (with a 98% stake owned by the Government of the Russian Federation). The State has systematically demonstrated its goal to ensure the economic development of the North Caucasus mostly through investors. They are granted tax benefits, if they register in the new special economic zones (SEZ) created in the North Caucasus, as well as government guarantees on loans grant-ed on an individual competitive basis.
    Keywords: North Caucasus, investment, local communities, Dagestan Republic
    JEL: R10 R11 R12 R13 R14
    Date: 2013
  7. By: Yan Carriere-Swallow; Pablo Garcia-Silva
    Abstract: This paper recounts Chile’s experience with capital account policies since the 1990s. We present how two external shocks were confronted under very different macroeconomic and capital account frameworks. We show that during the 1997-98 Asian-LTCM-Russia crisis, a closed capital account and relatively rigid exchange rate severely constrained the monetary policy response to the shock, aggravating the fall in domestic demand. During the 2008-09 crisis, a full-fledged inflation targeting framework allowed the authorities to implement a significant countercyclical response. We argue that domestic stability considerations lay behind the policy regime switch toward capital account liberalization from 1999 onwards.
    Keywords: Capital account;Chile;Capital account liberalization;Capital controls;Financial crisis;Monetary policy;Inflation targeting;Global Financial Crisis 2008-2009;capital controls, monetary policy, exchange rate policy, small-open economy, inflation targeting
    Date: 2013–05–14
  8. By: Filippova, Irina
    Abstract: The object of analysis is a state as a distributed system of decision making and the subject of analysis is its dysfunction as a result of action of institutional factors, in particular, corruption as an informal negative institute. The obtained results provide grounds for doubts in positive influence of democracy upon socio-economic processes, including upon the level of perceptible corruption. This suggests that democracy facilitates dispersion of responsibility and alienation of science from control, since scientific knowledge is not a “mass product” and becomes less and less demanded from the ruling elite in Ukraine. The function of the science as an institutional factor of effectiveness of state control lies in development of concepts of non-discretional mechanisms of decision making and also formulation of clear criteria for assessment of results of activity of subjects endowed with authority of decision making, in order to increase the level of their responsibility. Thus, we speak about such institutional factors of state control effectiveness as social responsibility and social control.
    Keywords: effectiveness, institutes, state control, corruption, democracy
    JEL: A13 E02 H00 O15 O17 O43
    Date: 2013

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