nep-cis New Economics Papers
on Confederation of Independent States
Issue of 2013‒10‒25
six papers chosen by
Alexander Harin
Modern University for the Humanities

  1. Россия и Украина: вопросы социально-экономического развития в контексте взаимных отношений By Vardomsky L.B.; Pylin A.G.; Sokolova T.V.; Shurubovich A.V.
  2. A Global Macro Model for Emerging Europe By Martin Feldkircher
  3. Comptabilité agricole et développement durable : étude comparative de la Russie et de la France. By Altukhova, Yulia
  4. Promoting Financial Inclusion through Financial Education: OECD/INFE Evidence, Policies and Practice By Adele Atkinson; Flore-Anne Messy
  5. From emerging economies toward the Emerging Triad By Hermann Sebastian Dehnen; Jan H. van Dinther; Norbert Koubek
  6. Commodity Prices and BRIC and G3 Liquidity: A SFAVEC Approach By Ratti, Ronald A; Vespignani, Joaquin L.

  1. By: Vardomsky L.B.; Pylin A.G.; Sokolova T.V.; Shurubovich A.V.
    Abstract: В докладе исследовано влияние взаимных отношений на социально-экономическое развитие России и Украины. Проанализированы реальные процессы в сфере взаимных связей, показана их сложность и противоречивость, дана оценка внутренних и внешних факторов, определяющих российско-украинские отношения. Рассмотрены особенности социально-экономического развития России и Украины, предпринята попытка выделить в них общее и различное, а также определить перспективы участия Украины в евразийских интеграционных проектах. The report investigates the effect of the mutual relations to the socio-economic development in Russia and Ukraine. The authors analyze the actual processes in the field of mutual relations, indicate their complexity and contradictions, estimate internal and external factors determining the Russian-Ukrainian relations. The features of the socio-economic development of Russia and Ukraine are investigated, an attempt to highlight their commonalities and differences and to determine the prospects of Ukraine's participation in the Eurasian integration projects is made.
    Keywords: Russia, Ukraine, socio-economic development, structural changes, financial situation, mutual trade, development priorities, integration choice, socio-cultural identity, standard of living, unequality, poverty
    JEL: F15 O11 O15 P52 R11
    Date: 2013–10–08
  2. By: Martin Feldkircher
    Abstract: This paper puts forward a global macro model comprising 43 countries and covering the period from Q1 1995 to Q4 2011. Our regional focus is on countries in Central, Eastern and Southeastern Europe (CESEE) and the Commonwealth of Independent States (CIS). Applying a global VAR (GVAR) model, we are able to assess the spatial propagation and the time profile of foreign shocks to the region. Our results show that first, the region’s real economy reacts nearly equally strongly to an U.S. output shock as it does to a corresponding euro area shock. The pivotal role of the U.S.A. in shaping the global business cycle thus seems to partially offset the region’s comparably stronger trade integration with the euro area. Second, an increase in the euro area’s short-term interest rate has a negative effect on output in the long run throughout the region. This effect is stronger in the CIS as well as in Southeastern Europe, while it is comparably milder in Central Europe. Third, the region is negatively affected by an oil price hike, with the exception of Russia, one of the most important oil exporters worldwide. The oil-driven economic expansion in Russia seems to spill over to other – oil-importing – economies in CIS, thereby offsetting the original drag brought about by the hike in oil prices. Finally, our results corroborate the strong integration of advanced economies with the global economy. By contrast, the responses in emerging Europe are found to be more diverse, and country-specifics seem to play a more important role. JEL classification: C32, F44, E32, O54
    Keywords: Global VAR, transmission of international shocks, Eastern Europe, CESEE, great recession, emerging Europe, global macro model, foreign shock
    Date: 2013–09–23
  3. By: Altukhova, Yulia
    Abstract: Cette thèse vise à répondre à la thèse de Gray (2010, p.48), selon laquelle il est rare, voire quasiment impossible de trouver des comptabilités environnementales notamment dans la perspective de la durabilité forte, c’est-à-dire d’un développement qui respecte les seuils physiques environnementaux caractérisant le niveau minimum du capital naturel à conserver. Elle montre que, contrairement à la vision pessimiste de Gray, on trouve dans le domaine agricole des exemples de comptabilité qui sont de véritables comptabilités environnementales répondant aux enjeux de la durabilité forte. Cette thèse montre aussi que l’agriculture est bien en avance par rapport aux autres secteurs de l’économie dans ce domaine de la comptabilité verte et de la responsabilité sociale. Elle s’appuie sur une étude des cas concrète au sein de la Bergerie Nationale de Rambouillet (France) avec une comparaison à celle d’une exploitation russe, la SA de type fermé « Selskie zori », et illustre ce que pourrait être une vraie pratique de comptabilité environnementale orientée vers une durabilité de type fort. Elle s’inscrit dans le prolongement de la recherche en comptabilité qui considère cette dernière comme une technique subjective dans le sens où elle est fonction d’un sujet qui a le pouvoir (Richard, 1980, 2012 ; Tinker et al., 1982 ; Cooper et Sherer, 1984 ; Tinker, 1984, 1985 ; Hopper et al., 1987 ; Cooper et al., 1989 ; Colasse, 1997, 2005, 2007 ; Christophe, 2000 ; Catchpowle et al., 2004 ; Antheaume et Christophe, 2005 ; Chiapello, 2012).
    Abstract: This thesis aims to respond to Gray’s proposition (2010, p.48) that it is rare, if not impossible to find accounting for sustainability, notably in the “strong” perspective of the term, that is to say the mode of development that respects physical thresholds characterizing the minimum level of natural capital to be preserved. The findings demonstrate that, contrary to the Gray’s pessimistic view, in agriculture, there are examples of accounting for sustainability that truly meet the challenges of strong sustainability. This thesis also shows that the agriculture sector is more advanced compared to other sectors in the economy regarding green accounting and social responsibility. The thesis is based on a comparative concrete case study of the Bergerie Nationale de Rambouillet (France) and a Russian farm, the closed type joint-stock company “Selskie zori”. It illustrates what could be a real practice of accounting for strong sustainability. This thesis is in line with researches that consider accounting as a subjective technique in that it depends on a subject that has the power (Richard, 1980, 2012 ; Tinker et al., 1982 ; Cooper et Sherer, 1984 ; Tinker, 1984, 1985 ; Hopper et al., 1987 ; Cooper et al., 1989 ; Colasse, 1997, 2005, 2007 ; Christophe, 2000 ; Catchpowle et al., 2004 ; Antheaume et Christophe, 2005 ; Chiapello, 2012).
    Keywords: Comptabilité environnementale; Indicateurs de durabilité; Agriculture; Environmental accounting; Indicators of sustainability; Agriculture;
    JEL: Q56 M41
    Date: 2013–05
  4. By: Adele Atkinson; Flore-Anne Messy
    Abstract: Financial inclusion is an international policy priority and demand-side initiatives including financial education have an important role to play in helping individuals to access and use appropriate, formal financial products. In 2010, under the support of the Russian Trust Fund for Financial Literacy and Education, the OECD/INFE launched a project on the role of financial education in financial inclusion. The results of this work show that low levels of financial inclusion are associated with lower levels of financial literacy. Recent research, including a broad stock take of INFE members, permitted to identify various ways in which policy makers are developing financial education policies for financial inclusion. Based on a review of approaches taken to deliver financial education for financial inclusion, this report highlights challenges faced and solutions found, and discusses the main lessons learnt and potential way forward. L’inclusion financière est une politique prioritaire internationalement et les initiatives portant sur la demande comme l’éducation financière ont un rôle important à jouer afin d’aider les individus à accéder et à utiliser des produits financiers du secteur formel appropriés. En 2010, avec le soutien du Fonds russe sur l’éducation et les compétences financières, l’OCDE et son réseau international sur l’éducation financière (International Network on Financial Education (INFE) ont lancé un projet sur le rôle de l’éducation financière pour renforcer l’inclusion financière. Les résultats de ces travaux montrent que des niveaux bas d’inclusion financière sont associés avec des niveaux bas de compétences financières. Des recherches récentes, incluant une large collecte de données au sein des membres de l’INFE, ont permis d’identifier différents approches mises en place par les autorités publiques afin de développer des politiques en matière d’éducation financière visant à promouvoir l’inclusion financière. À partir d’une analyse de ces approches, ce rapport met en évidence les défis rencontrés et les solutions trouvées afin de conduire des programmes d’éducation financière efficaces permettant d’améliorer l’inclusion financière, en tire les principaux enseignements et présente des pistes à suivre dans le futur.
    Keywords: financial literacy, financial education, financial inclusion, inclusion financière, alphabétisation financière, éducation financière
    JEL: D14 D18 G21 G28 I28
    Date: 2013–10–11
  5. By: Hermann Sebastian Dehnen (University of Wuppertal, Schumpeter School of Business and Economics); Jan H. van Dinther (University of Wuppertal, Schumpeter School of Business and Economics); Norbert Koubek (University of Wuppertal, Schumpeter School of Business and Economics)
    Abstract: In this article an entirely new structural approach called the ‘Emerging Triad’ is identified, which is dealing with the increasing regional, intra- and interregional integration of the emerging regions Latin America, Southeast Asia and sub-Saharan Africa. In this context the increasing south-south cooperation’s, specific transregional free trade agreements as well as foreign direct investments are identified as the main driver for this ongoing networking process. For a deeper analysis of this development the regional trading blocs Mercosur, SADC and ASEAN as well as specific countries are chosen. Due to their increasing industrialization a similar development like the one of the BRIC countries can be anticipated for these regions in the upcoming years. Apart from the industrialization, the increasing integration and interdependence of specific countries or even regions is going to be a relevant factor with respect to future market entry decisions of companies of the southern developing countries and a deeper market penetration of northern developed market multinational enterprises. As a consequence the growing relevance of these regions in the global trade and business due to its strong economical development will lead to an ongoing alignment process between the established northern Triad and the new identified emerging triad. This convergence became obvious especially during the global crisis in 2009 and 2010. Finally the new approach of the Emerging Triad and the northern triad with its developed nations are included into a double helix structure which stands for the increasing tradeoff between the industrialized world and the emerging world.
    Keywords: Emerging triad, emerging markets, emerging market economies, BRIC, double helix structure, base of the pyramid, south-south cooperation, regional integration, Triad, FDI, trade
    Date: 2013–10
  6. By: Ratti, Ronald A (School of Business, University of Western Sydney Author-Workplace Homepage:; Vespignani, Joaquin L. (School of Economics and Finance, University of Tasmania)
    Abstract: This paper investigates the influence of liquidity in the major developed and major developing economies on commodity prices. Unanticipated increases in the BRIC countries? liquidity is associated with significant and persistent increases in commodity prices that are much larger than the effect of unanticipated increases in G3 liquidity, and the difference increases over time. Over 1999-2012 BRIC liquidity is strongly linked with global energy prices and global real activity whereas G3 liquidity is not. The impact of BRIC liquidity on mineral and metal prices is twice as large as that of G3 liquidity. BRIC liquidity is significantly connected with global tightening while G3 liquidity is not. Granger casualty goes from liquidity to commodity prices. BRIC and G3 liquidity and commodity prices are cointegrated. BRIC and G3 liquidity and global output and global prices are cointegrated. We constructed a structural factor-augmented error correction (SFAVEC) model.
    Keywords: Commodity Prices, BRIC countries, G3, Global liquidity, SFAVEC
    JEL: E31 E32 E51 F01 G15 Q43
    Date: 2013–01–09

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