nep-cis New Economics Papers
on All new papers
Issue of 2014‒09‒08
nine papers chosen by
Alexander Harin
Modern University for the Humanities

  1. The Model Of Contemporary Marketing Practices (Cmp) In The Russian Market: Evidence From Empirical Research By Vera A. Rebiazina; Olga A. Tretyak
  2. Why do Russian firms invest abroad? A firm level analysis By Anwar, Amar; Mughal, Mazhar
  3. Post-soviet mass celebration and kul’turnost’: the survey of urban art festival “White nights in Perm - 2012 By Iuliia Papushina
  4. The Effects Of Competition Policy: Merger Approval, Entry Barrier Removal, Antitrust Enforcement Compared By Svetlana B. Avdasheva; Dina V. Tsytsulina
  5. Testing for Multiple Bubbles in the BRICS Stock Markets By Tsangyao Chang; Goodness C. Aye; Rangan Gupta
  6. Tools Of Government For Support Of Sonpos In Russia: In Search Of Cross-Sector Cooperation In The Delivery Of Social Services By Vladimir B. Benevolenski
  7. Recording the ambiguity: the moral economy of debt books in a Russian small town By Ivan Pavlyutkin; Greg Yudin
  8. Corruption in Kazakhstan and the quality of governance By Satpayev, Dossim

  1. By: Vera A. Rebiazina (National Research University Higher School of Economics); Olga A. Tretyak (National Research University Higher School of Economics)
    Abstract: Previous research has shown that emerging markets represent a significant part of the world economy and are expanding their share. However, they are still not well examined in the marketing field. Russia is especially neglected in the academic discussion of overall marketing strategy. Previous research indicates that the model of “Contemporary marketing practices” (CMP) is commonly used as a classification scheme of marketing practices both in developed and developing markets. This article examines how “Contemporary marketing practices” (CMP) works in Russia and tests the CMP model in the Russian market to reveal what types of marketing practices (transactional marketing, database marketing, interactive marketing, network marketing and relationship marketing) are most often used by Russian companies. The article is based on a quantitative study of 329 Russian companies and includes a cluster analysis that shows that types of marketing practices are common for the Russian market. Empirical results of cluster analysis shows that basic marketing practices are widely found in emerging Russian market though their characteristics differ dramatically from those on developed markets.
    Keywords: marketing, marketing practices, Contemporary marketing practices (CMP), emerging markets, Russia.
    JEL: M31
    Date: 2014
  2. By: Anwar, Amar; Mughal, Mazhar
    Abstract: This study examines the motives for Russian outward foreign direct investments (OFDI) around the world. Using firm-level data for Russian firms, home and host country economic, geographical, cultural and institutional drivers of Russian OFDI are analyzed. Findings show that Russian OFDI seems to be motivated by both the push and the pull factors. Results suggest market-seeking to be the main motive behind Russian outward foreign direct investments, followed by resource and technology acquisition, while efficiency-seeking does not appear to be a major objective. Compared with the pre-crisis period, Russian firms have been seeking more foreign investments since 2008. The study helps better understand the economic, geographical, cultural and institutional factors that Russian transnational corporations consider while planning investments abroad.
    Keywords: Outward Foreign Direct Investment; 2008 financial crisis; Russia
    JEL: F23 G01 O53
    Date: 2014–06–24
  3. By: Iuliia Papushina (National Research University Higher School of Economics)
    Abstract: This paper employs the category “kul’turnost’” for the analysis of post-Soviet urban mass celebrations. Based on empirical data gathered during White Nights in Perm Festival – 2012, the paper delves into how Soviet ideological cliches and stereotypes are manifested in the language of contemporary Russian urban inhabitants. The research setting is the industrial city of Perm with approximately one million citizens. The research is based on a survey, conducted with 429 festival visitors. The results demonstrate that visitors have a complex structure of their opinions including the cliches rooted in Soviet discursive heritage. Applying Bourdieu’s idea of “the objectivisation of the objectifier”, the paper reflects on the influence of survey on the usage of Soviet discursive heritage. The results suggest the necessity to regard Soviet discursive heritage as an influential source of signifiers for articulating opinions in post-Soviet Russia. The paper also questions the usage of Western originated scales as the main tool for festival impact evaluation.
    Keywords: mass celebrations, kul’turnost’, post-Soviet studies, urban festival
    JEL: Z11
    Date: 2014
  4. By: Svetlana B. Avdasheva (National Research University Higher School); Dina V. Tsytsulina (National Research University Higher School)
    Abstract: There is little evidence on the comparative effectiveness of different competition policy measures, especially in transition economies. This research represents the effort to expand the financial event study method for the assessment of different competition policy measures: merger control, antitrust investigations on abuse of dominance, and changes of import tariffs in the Russian ferrous and non-ferrous metals markets from 2007 to 2012. According to the reaction of financial market, mergers between Russian metal producers restrict competition and reduce consumer welfare. Antitrust investigations have a positive effect on stock prices of buyers of metal and no significant impact on the market valuation of target of investigation. Changes in import tariffs have a positive significant impact on the company stock prices. The sign of each effect allows the comparison of different measures of competition policy.
    Keywords: competition policy, event studies, Russia, metal markets
    JEL: L40 G14
    Date: 2014
  5. By: Tsangyao Chang; Goodness C. Aye; Rangan Gupta
    Abstract: In this study, we apply a new recursive test proposed by Philips et al (2013) to investigate whether there exist multiple bubbles in the BRICS (Brazil, Russia, India, China and South Africa) stock markets, using monthly data on stock price-dividend ratio. Our empirical results, the first of its kind for these economies, indicate that there did exist multiple bubbles in the stock markets of the BRICS. Further, the dates of the bubbles also corresponded to specific events in the stocks markets of these economies. This finding has important economic and policy implications.
    Keywords: Multiple bubbles; BRICS stock markets; GSADF test
    JEL: C12 C15 G12 G15
    Date: 2014–08–29
  6. By: Vladimir B. Benevolenski (National Research University Higher School of Economics)
    Abstract: This paper discusses the set of tools of government enacted in 2009–2013 in Russia to provide support to socially oriented nonprofit organizations (SONPOs). The discussion evaluates the new tools within the context of international comparisons. In particular the comparisons concern the definition of SONPOs as a subpopulation of the nonprofit sector, the economic dimension of the tool kit and the combination of the support measures as a means to foster cross-sector cooperation in the delivery of social services. Worldwide cross-sector partnership in the delivery of social services is used by governments to engage the resources of civic organizations in the implementation of social policy. NPOs quite readily accept government support and espouse participatory approaches considering such approaches as instrumental in pursuit of their social missions. In Russia this approach is considered a serious policy innovation since government policy to date vis-a-vis the nonprofit sector could be described as either indifferent or predominantly restrictive. The conceptual framework employed for our discussion is based on the explanation of the role played by nonprofit organizations and of the motivation for cooperation between the state and NPOs in the supply of public goods provided by the theory of “market / government / voluntary failure” and on the tools of government approach developed by Salamon. We first consider the legal definition of the subsector of SONPOs, and then investigate the newly introduced tools of government support featuring data on the scope of Russian federal government support for SONPOs. Our discussion focuses on international comparisons, showing substantial similarity to government tool kits employed to support NPOs elsewhere in the world.
    Keywords: government regulation; nonprofit sector; public administration; public-private partnership; Russia; social policy; socially oriented NPO.
    JEL: H83
    Date: 2014
  7. By: Ivan Pavlyutkin (National Research University Higher School of Economics); Greg Yudin (National Research University Higher School of Economics)
    Abstract: In this paper we draw upon important distinctions suggested by classics of anthropology in order to develop a theoretical approach to the phenomenon of debt. Building on the opposition be-tween the logic of the gift and that of the market, we elucidate moral tensions that call debt rela-tions into being. However, instead of reducing debt to either of these rival principles, we inter-pret it as a combination of both that allows for mediating between them in a highly ambiguous moral context. Using evidence from a small Russian town, we analyse how interest-free debt functions within face-to-face interactions in local shops and how it structures the ordinary lives of shopkeepers, salespeople and consumers in the community. We discuss a moral situation that turns the fram-ing of everyday purchases into a problem and demonstrate how a material device — a debt book — enters into a transaction in order to resolve it. A debt book turns out to be a specific graphic technology, a destructive device that subverts both marketization and communitarian aid by sus-pending the framing of interaction. In the resulting atmosphere of ambiguity, debts become an object of strategic manipulation for the members of community that demands good negotiation skills and use of moral arguments. Although the constitution of debt economy is highly dependent on the dynamics of marketization and economization, it can in fact accommodate very different moral regimes.
    Keywords: debt, gift, market, framing, moral economy, post-socialism.
    JEL: Z13
    Date: 2014
  8. By: Satpayev, Dossim
    Abstract: In Kazakhstan, uncover of numerous corruption scandals involving government officials has become almost a normal feature of life. Behind the high-profile acts of waging a battle against corruption, however, is a serious and systemic phenomenon. The most endemic form of corruption is the various transfers of funds in the state structures and national companies which remain opaque and thus unaccounted for. There are questions about the volumes and spending of revenues earned from natural resources, and there is no independent monitoring and control of the flow of funds in national oil and gas companies. The main actors involved in the shadow economy are state officials and informal pressure groups, who distribute resources among themselves, and accumulate wealth by way of legalising informal incomes or obtaining official business using connections. While important decision making is carried out among the close circles of the elite, formal institutions remain weak and ineffective.
    Keywords: Kazakhstan, Corruption, Economic conditions, Politics, Shadow economy, Informal networks, Informal pressure groups
    JEL: D73 E26
    Date: 2014–08
  9. By: Davide Fiaschi; Elisa Giuliani; Federica Nieri
    Abstract: BRIC countries have generally gone through a process of liberalization and rapid economic growth that has allowed their major companies to acquire increasing weight in the global marketplace. However, they are still striving to achieve full legitimacy in the international arena. In a bid to close this legitimacy gap, BRIC firms are making efforts to align with the Environmental, Social and Governance (ESG) global norms of doing business, and recently have adopted a portfolio of Corporate Social Responsibility (CSR) initiatives. In this paper we provide a deeper exploration into the factors that relate to BRIC firms’adoption of different types of CSR initiatives-i.e. social policies (philanthropic projects favoring different stakeholders), publication of CSR reports, adoption of GRI standards; adherence to and financial support for the UN Global Compact. We carry out an empirical analysis on 60 BRIC large public companies, and find support for the idea that different kinds of CSR initiatives may be subject to different pressures and may serve different legitimization strategies.
    Keywords: BRIC firms, internationalization, Corporate Social Responsibility (CSR), liability of foreignness (LOF) and emergingness (LOE).
    JEL: F23 M14
    Date: 2014–03–01

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