|
on Confederation of Independent States |
|
Issue of 2015‒04‒19
thirty-one papers chosen by |
| By: | Zemtsov S.P (Russian Presidential Academy of National Economy and Public Administration); Pavlov P.N (Russian Presidential Academy of National Economy and Public Administration); Sorokina A.V. (Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | The article presents the results of management quality survey in Russian clusters that reveals specifics of cluster support policy in Russia. We compare 22 Russian clusters, supported by the Government, using series of indicators measuring cooperation intensity of cluster participants and activity of cluster management teams. We introduce a description of the typical Russian innovative territorial cluster, based on the average values of the indicators. Our analysis revealed that international communications, information about funding and training courses are highly useful tools to improve collaborations among cluster participants. This paper proposes a methodology for measuring cluster performance by the cluster scale index, cluster development index and cluster management efficiency index. In conclusion, we formulate recommendations for cluster policy improvement in Russia, based on our analysis of indicators’ correlations and comparison between the results of our research and the similar researches in other countries. This analysis will be useful for researchers and policymakers from countries, where cluster policy recently became a popular topic. |
| Keywords: | cluster policy; Russian regions; innovations; quality of management; cluster management team |
| JEL: | O32 O38 L14 |
| Date: | 2015–04 |
| URL: | http://d.repec.org/n?u=RePEc:pes:wpaper:2015:no105&r=cis |
| By: | Irina Romodina (University Higher School of Economics); Maxim Silin (University Higher School of Economics) |
| Abstract: | The paper is about sustainable public procurement as a new global trend in the development of a sustainable economy. The main question raised is the following: how sustainable public procurement could be implemented in Russia? The study aims to investigate the prospects of the implementation of sustainable public procurement in Russia. The author presents the findings of survey, covering public procurement practices of 51 contracting authorities and documentation analysis of 400 public tenders. The analysis of Russian legislation allows to determine the sections of procurement documentation, where different aspects of sustainability could be included. The conducted survey aims to identify the aspects of sustainable public procurement already used by public authorities in procuring practices in Russia. This paper provides the unique survey of sustainable procurement practices across the Russian public sector. Research also shows the prerequisites of implementation of sustainable public procurement in Russia. |
| Keywords: | sustainable development; public procurement; sustainable public procurement |
| JEL: | A11 |
| Date: | 2015–04 |
| URL: | http://d.repec.org/n?u=RePEc:pes:wpaper:2015:no92&r=cis |
| By: | Voloshinskaya, Anna (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Komarov, Vladimir (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | This paper studies the possibilities of improving Russia's Regulatory System based on worldwide best practices. The paper analyzes the new trend in the world of legislative practice - Evidence-based policy-making and shows the main advantages and possible difficulties in the application of the new approach. As shown in study Russia already has some elements of "evidence-based policy making", although this approach has not been recognized officially yet. In particular, regulatory impact assessment (RIA) procedure (a key element of the evidence-based policy) is widespread in Russia. |
| Keywords: | regulatory system, evidence-based policy-making, state policy, Russia |
| Date: | 2015–03 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mak2&r=cis |
| By: | Borislava Mircheva; Dirk Muir |
| Abstract: | Denmark, Finland, Norway, and Sweden form a tightly integrated region which has strong ties with the euro area as well as some exposure to Russia. Using the IMF’s Global Integrated Monetary and Fiscal model (GIMF), we examine spillovers the region could face, focusing on possible scenarios from the rest of the euro area and Russia, and the fall in global oil prices. We show that the spillovers from these scenarios differ in magnitude and impact, regardless of the high degree of integration among the four Nordic economies. These differences are driven by the fact that Denmark and Finland have no independent monetary policy, and Denmark and Norway are net energy exporters while Finland and Sweden are energy importers. We infer lessons for policy from the outcomes. |
| Keywords: | Spillovers;Denmark;Finland;Sweden;Norway;Russian Federation;Oil prices;Economic integration;Monetary policy;Fiscal policy;Cross country analysis;General equilibrium models;Spillovers; monetary policy; fiscal policy; dynamic stochastic general equilibrium models; Nordic countries |
| Date: | 2015–03–27 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:15/70&r=cis |
| By: | Berezinskaya, Olga (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Vedev, Alexey (Gaidar Institute for Economic Policy - Financial Research Laboratory); Larionova, Dina (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | The paper is devoted to analysis of production dependence of Russian industry from imports. The share of imports in the cost of industrial enterprises for raw materials, purchased semi-finished products and components is significantly grew up in the post-crisis period and the weakening of the ruble has some risks of deterioration of operating and financial performance of companies. In this work the most vulnerable industrial sectors the identified. Special attention is paid to the analysis of mechanism of import depending production of the Russian industry. Potentials for different sectors are identified, for import substitution especially. The results will contribute to a deeper understanding of the reasons for the growth of production dependence of Russian industry from imports and the nature of strategic import. |
| Keywords: | production dependence, import, industry, Russia |
| Date: | 2015–03 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mak11&r=cis |
| By: | Ragozina, Lyudmila (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Rogozin, Dmitriy (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Vasin, Sergey (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Eliseeva, Marina (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Burdyak, Alexandra (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Tyndik, Alla (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | The paper "Social Status of People with Disabilities in the Russian Federation with Accounting of the Convention on the Rights of Disabled Persons" is devoted to identifying the most appropriate instruments for the study of social status of the disabled persons. In developing of the theme of the topics a variety of research methods used in Russia and in foreign countries was tested: a statistical analysis (including Rosstat database, census, national statistical surveys), and samples of in-depth (qualitative) sociological research. Analysis of the available tools allows us to prepare proposals for the organization of a national monitoring system of disabled persons in the Russian Federation, which should be done in the light of the UN Convention on the Rights of Disabled Persons. |
| Keywords: | people with disabilities, Russia, UN, Convention on the Rights of Disabled Persons, in-depth sociological research, national monitoring system of disabled persons |
| Date: | 2015–03 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mak5&r=cis |
| By: | Marc Ozawa |
| Abstract: | Trust in Norwegian-Russian energy relations is one in the making. Both sides have actively pursued to build trust, particularly over the past decade. The process has been driven by shared economic interests, the prominence of the petroleum industry in both countries, and a desire to improve political relations on both sides. Factors shaping trust are pre-existing on the one hand, and determined by the actors’ signals on the other. Different organisational and cultural preferences likewise play a role in the development of trust and degree of co-operation. This study argues that the current level of trust is neither high nor low when compared to other bi-lateral relations with Russia. While trust appears to have contributed to breakthroughs in co-operation such as the resolution of the maritime border and new joint ventures in oil exploration, a lack of trust owing to diverging interests and market forces is inhibiting collaboration in the realm of gas. This potentially puts Norway and Russia on a path to increased competition for their primary gas markets, first in Germany and then in the rest of continental Europe. As the two main gas suppliers of the EU, this suggests serious implications on the future of European gas markets, the return on investment for their upstream gas industries, and energy security in the region. |
| Keywords: | Trust, natural gas, oil, trade, co-operation, Norway, Russia, Europe |
| Date: | 2014–04–14 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:1444&r=cis |
| By: | Leontyeva, Elena (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Narkevich, Sergey (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | This work is devoted to the search for the optimal value of the international reserves of the country. In developed countries with floating exchange rate, the level of reserves in relation to GDP is usually negligible. In developing countries, the level of reserves relative to GDP are generally higher, even if the country adheres to a floating exchange rate. Russia is among the top ten countries with the largest reserves of international reserves, and in relative terms, the volume of reserves is also essential. However, it is unclear how the current volume of reserves is adequate. To answer this question in the current work analyzes the main features of international reserves, as the desired amount of international reserves depends on what functions they have to perform in the country. Then in the paper discusses existing approaches to the assessment of the adequacy of international reserves. In the final part of the review of the metric used to assess the adequacy of the level of international reserves of the Russian Federation. |
| Keywords: | gold, gold reserves, international reserves, management |
| Date: | 2015–03 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mak12&r=cis |
| By: | Ivleva, Galina (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Borovikova, Elena (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Melnikov, Roman (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | Risk-based methods of taking decisions in the system of public administration have found applying in foreign countries with development economics and in Russia. Economic crisis, factors, which result to financial instability, problems in financial and real sector of the economy create situation of rising risks and complicate the processes of regulation of economics by the methods of government impact. In such situation there is a need to study the accumulated experience of risk-based regulation in Russia. High interest is connected with the internal mechanisms of evaluating of risks and managing of risks by controlled entities. Presented work includes analysis of Russian practice of risk-based regulation, proposals for development tools. |
| Keywords: | risk-based methods of taking decisions, public administration, risk-based regulation, evaluating the risks, managing the risks, |
| Date: | 2015–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mak3&r=cis |
| By: | Yudina, Elena (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | In this paper a comparative analysis of international and Russian practice assessing the quality of early childhood education at the level of educational institutions is made. Different concepts and ideas about education quality assessment of young children are researched. It is shown that the category of quality varies depending on 1) the purposes of pre-school education, formulated at the level of the national education system and local levels; 2) positions of different actors involved to the site; 3) different levels at which there is a realization of preschool education programs in the country. The most common and popular tools for assessing 1) the conditions of children in the OED, and 2) the educational results of children (the dynamics of the students) were analyzed. It has been shown that there are two groups of problems of preschool education, defining education as a process of developing, or oriented to the needs of the system. The last experience in assessing the quality of preschool education in Russia was analyzed. The main focus of the analysis was on the model of quality assessment, development and testing which was conducted in 2011-2013. It has been shown that this model as a whole does not meet the requirements of the modern Russian legislation, and in addition, relies mainly on formal characteristics and should be substantially modified. |
| Keywords: | childhood education, educational institutions, young children, national education system, pre-school education |
| Date: | 2015–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mak18&r=cis |
| By: | Garbuzova-Schlifter, Maria (E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN)); Madlener, Reinhard (E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN)) |
| Abstract: | Systematic and effective risk management in energy performance contracting (EPC) projects requires a sound understanding of the main risks faced by energy service companies (ESCOs) and other energy service providing companies (ESPCs), which accomplish such projects under vulnerable market conditions in Russia. This study explores the EPC project risks (risk factors and their causes) and develops a risk analysis framework that is applied to three Russian sectors: (1) industrial; (2) housing and communal services; and (3) public. The identified general risks were validated by Russian EPC practitioners in expert interviews. An analytic hierarchy process (AHP) approach was then used to rank the identified risks in terms of their contribution to the riskiness of EPC projects. The data were obtained from a web-based questionnaire survey conducted among Russian ESCOs and ESPCs. For improving consistency of the obtained AHP results, the maximum deviation approach (MDA) for 8×8 matrices and the induced bias matrix model (IBBM) for 3×3 and 4×4 matrices were applied. This study indicates that there is a need for a widely usable formal approach for risk analysis and management in EPC projects in Russia. Causes of risk related to the financial and regulatory aspects were found to contribute most to the riskiness of EPC projects performed in all three focus sectors in that country. |
| Keywords: | Risk analysis; energy performance contracting; EPC; energy service company; ESCO; Russia; analytic hierarchy process; AHP |
| Date: | 2014–10 |
| URL: | http://d.repec.org/n?u=RePEc:ris:fcnwpa:2014_010&r=cis |
| By: | Kleeva, Lyudmila (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Nikitova, Anna (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Kleev, Ivan (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Krotov, Alexander (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | This work is devoted to modern trends in the development of fundamental science in Russia. Statistical analysis of the dynamics characterizing the development of indicators is complemented by a thematic analysis of research conducted in the Institute. It is shown that, despite the fact that the fundamental science develops according to its own laws, the subject of research in its framework meets the objectives of socio-economic development of the Russian Federation and the main trends of development of world science. Identification in the long-term and short-term factors in the development of fundamental science, as well as the reasons that underpin its weak impact on the socio-economic development of Russia, is complemented by the SWOT-analysis of modern development of fundamental science in Russia. Conclusions of the work may be useful to all readers interested in the problems of the Russian fundamental science and can contribute to the formation of an effective scientific and innovational state policy. |
| Keywords: | fundamental research, statistical analysis, socio-economic development of Russia, SWOT-analysis |
| Date: | 2015–03 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mak1&r=cis |
| By: | Riccardo Crescenzi; Alexander Jaax |
| Abstract: | The debate on Russia’s innovation performance has paid little attention to the role of geography. This paper addresses this gap by applying an ‘augmented’ regional knowledge function approach to examine the territorial dynamics of innovation in Russia. The empirical results suggest that regional R&D investments are strong predictors of local innovative performance. However, R&D activities are inadequately connected to regional human capital resources. The activities of foreign firms play a fundamental role as ‘global knowledge pipelines’. Different territorial dynamics of innovation are observed in the European and the Asian part of Russia, with regions to the East of the Urals less likely to benefit from interregional knowledge spillovers. The historical legacy from the Soviet era still emerges as a strong predictor of current innovative performance, shedding light on the importance of long-term path dependency in the Russian geography of innovation. |
| Keywords: | Innovation, R&D, geography, regions, Russia |
| JEL: | R11 R12 O32 O33 |
| Date: | 2015–04 |
| URL: | http://d.repec.org/n?u=RePEc:egu:wpaper:1509&r=cis |
| By: | Lenskàyà, Å. (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | The situation in the Russian education in recent decades has changed dramatically - there is a new electronic environment; changed enrollment (migrants, inclusion of children with HIA), new educational standards, built on the competent approach and new forms of educational measurement. International surveys (PISA, TALIS, PIRLS, McKinsey research fund) indicate that the quality of modern education is directly dependent on the quality of teacher training. However, the form and content of the training and professional development of teachers not take sufficient account of these changes. These studies suggest that Russian teachers do not get a lot of services that they demand, or the quality of these services does not suit them. Building Skills in fact no one is accountable and responsible for their performance. Interest in professional development of teachers in falls. The main objective: To evaluate the needs of teachers in Russia in the content, forms and methods of training and the degree of satisfaction of the system training, to compare them with those of the countries that demonstrate high educational results and make recommendations to optimize system performance. |
| Keywords: | training of pedagogical personnel, pedagogics, education, Russia |
| Date: | 2015–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mak17&r=cis |
| By: | Abroskin, Alexander (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Abroskina, Natalia (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | Subject area of research are the topics of methodology and methods of complex statistical analysis of non-observed economy. The research is focused on solving urgent tasks connected with the increasing use of modern statistical methodology and analytical tools for the estimate of non-observed economic activity in RF. As the basis for the development of analytical assessments in the research are used the methodological approaches of modern version of the System of National Accounts (SNA 2008), adapted to solving the problems of complex analysis of non-observed economy and its components. |
| Keywords: | non-observable economy, Russia, statistical methodology, System of National Accounts |
| Date: | 2015–03 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mak9&r=cis |
| By: | Galieva, Nadezhda (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Grishina, Elena (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Ragozina, Lyudmila (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Topoleva-Soldunova, Elena (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Rogozin, Dmitriy (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Tsatsura, Elena (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | Research on the topic: "Forms of participation of civil society in the independent evaluation of the effectiveness of the social area" is devoted to the study of a new public institution in Russia - an independent evaluation of the quality of providing services by organizations and institutions in education, health, social services, culture, physical education and sports as well as the activities of socially-oriented non-profit organizations in the field of assessing the quality of social services. Comparison of Russian and foreign experience of public participation in monitoring and evaluation of these social services, as well as the analysis of public opinion and consumers about is introducing the institute, are allowing to reveal problems that arise here and make recommendations to address them, as well as give suggestions for prospective development of this institution in the country. |
| Keywords: | civil society, social area, independent evaluation, social services, public opinion, |
| Date: | 2015–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mak4&r=cis |
| By: | Leonid Sykiainen (National Research University Higher School of Economics) |
| Abstract: | The analysis of the interaction between Sharia and legislation in action along with the compatibility of Sharia with contemporary Russian law is important from both a scientific and a practical point of view. There are several reasons for the increasing interest in this issue: the renaissance of Islam, the activity of Muslim communities outside the regions where Islam has traditionally spread, the threat of Islamic extremism, and the increasing influence of Sharia upon the political and legal development of the Muslim world. Russian researchers do not have a common attitude to Sharia’s relation to Russian legislation. They put forward different arguments for and against including Sharia in the official legal system. Along with these, some Russian lawyers make attempts to find the legal possibility or even necessity of including Sharia in contemporary Russian reality, including norms, principles and institutions in the legislation. There are three modes of possible interaction between Sharia and state legislation. The first is represented by the direct inclusion of Sharia norms into the legislation. The second is legal acts which refer to historical or local traditions. The third is that Sharia provisions can be used for solving issues which are provided for by dispositive norms of state legislation |
| Keywords: | Sharia, legislation, Russian law, historical and local traditions, adat, polygamy, waqf, Sharia court, local government, dispositive norms. |
| JEL: | K10 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:49/law/2015&r=cis |
| By: | Berezinskaya, Olga (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | The paper presents an analysis of the dynamics of the Russian economy based on imports in 2006 - 2013 years. The paper presents a comparative analysis of industrial output and imports of intermediate goods, investment in fixed assets and capital goods imports, retail sales and imports of consumer goods. Particular attention is paid to the sensitivity of imports of consumer, investment, intermediate goods to a change in the national currency. The results obtained are useful for a better understanding of the nature and degree of dependence on imports of Russian economy at different stages of its development, as well as areas of import substitution in the medium term. The results can be used to develop measures of monetary and economic policy aimed at solving the problem of import substitution, the drafting of legislation and regulations in this area. |
| Keywords: | exchange rate, dynamics of russian economy, impirt, consumer goods, investment, monetary and economic policy, substitution of import |
| Date: | 2015–03 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mak10&r=cis |
| By: | David Tingle |
| Abstract: | What causes ‘gas wars’ between Russia and Ukraine? In this paper I argue that contract disputes in the eastern European gas sector are specific instances of a broader set of phenomena: bargains over strategically important resource issues outside of any international framework to facilitate cooperation. Non cooperative game theory helps to shed light on the reasons we see crises emerge despite the fact that both parties would be better off reaching an agreement short of conflict. I develop a framework for crisis bargaining that departs from canonical games in one important dimension: it explicitly considers impact of bargaining practices and strategies on the negotiation process and the probability of failure. While bargaining practices are endogenous to both the preferences of the players and the structure of the game, they intervene in the causal process in substantively important ways by modifying the effect of both preferences and structure. Critically, practices embedded in earlier rounds affect practices and outcomes later on independent of the preferences of each player or the structure of the game. I use this practice-theoretic bargaining framework to develop an in-depth case study of 2008 negotiations between Russia and Ukraine. This framework helps produce a nuanced understanding of bargaining breakdown that led to the most damaging of the ‘gas wars’; the resulting explanation outperforms the standard bargaining model as well as a number of competing arguments. |
| Keywords: | gas ; bargaining ; Russia ; Ukraine |
| JEL: | F5 F51 |
| Date: | 2015–04–09 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:1504&r=cis |
| By: | Gromov, Vladimir (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Malinina, Tatiana (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | The study is devoted to research and development of solutions of actual taxation problems in the area where a source of a taxpayer’s economic benefit is increase in value of assets. The main attention is paid to the analysis of theoretical, methodological and practical aspects of setting and calculation of a tax on capital gains in domestic and foreign practice. |
| Keywords: | Capital gain, Taxation of capital gains, Cost basis of assets, Adjustment of cost basis, Holding period |
| Date: | 2015–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mak16&r=cis |
| By: | Michael, Bryane |
| Abstract: | For emerging market regulators, shadow banking represents an activity which they must control. For businessmen in economies like Russia, Argentina, Saudi Arabia and Mexico, shadow banking represents an important business opportunity. By extending credit to risky (but promising) activities through shadow banking, financiers in these economies can earn far higher returns for excess-cash than placing it in cash management accounts. In this brief, we describe ways that cash-rich individuals and companies can use shadow banking activities to help themselves (by earning more money) and help the economy (by extending credit in these traditionally credit-starved economies). Some of these activities include issuing debt which shadow bankers use as collateral, chopping project-lending into privately-placed share offerings, investing in trade, real estate and insurance securities as well as centring shadow banking activities in regulation-friendly jurisdictions. |
| Keywords: | shadow banking,financial services,emerging markets,securitization |
| JEL: | G18 G21 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:108996&r=cis |
| By: | Vashelyuk, Natalya (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Trunin, Pavel (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | This paper examines the impact of nonstandard monetary policy measures on money market and their economy-wide effects. Four groups of nonconventional measures (quantitative easing, direct and indirect credit easing, forward guidance) and the way in which these operations were conducted in developed and emerging economies are explored. The study of nonstandard liquidity providing measures taken by the Bank of Russia revealed that the main challenges for monetary policy implementation are enhancing the transparency of monetary policy, minimizing distortional effects and appropriate risk management. We also found the evidence of the effectiveness of the credit auctions for 3-month loans secured by assets or guarantees. The regression analysis of the nonstandard liquidity easing measures showed that the increase in pace of providing the loans secured by non-marketable assets or guaranties puts a downward pressure on MosPrime rates. |
| Keywords: | monetary policy, money market, nonconventional measures, nonstandard liquidity, credit auctions |
| Date: | 2015–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mak14&r=cis |
| By: | Serhan Cevik; Carolina Correa-Caro |
| Abstract: | This paper investigates the empirical characteristics of income inequality in China and a panel of BRIC+ countries over the period 1980–2013, with a focus on the redistributive contribution of fiscal policy. Using instrumental variable techniques to deal with potential endogeneity, we find evidence supporting the hypothesis of the existence of a Kuznets curve—an inverted Ushaped relationship between income inequality and economic development—in China and the panel of BRIC+ countries. In the case of China, the empirical results indicate that government spending and taxation have opposing effects on income inequality. While government spending appears to have a worsening impact, taxation improves income distribution. Even though the redistributive effect of fiscal policy in China appears to be stronger than what we identify in the BRIC+ panel, it is not large enough to compensate for the adverse impact of other influential factors. |
| Keywords: | Income inequality;China;Brazil;Russian Federation;India;Fiscal policy;Income distribution;Economic growth;Cross country analysis;Time series;Panel analysis;Income distribution, income inequality, fiscal policy |
| Date: | 2015–03–25 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:15/68&r=cis |
| By: | Aleksandra Kordalska (Gdansk University of Technology, Faculty of Management and Economics); Magdalena Olczyk (Gdansk University of Technology, Faculty of Management and Economics) |
| Abstract: | The Global Competitiveness Index is treated as a standard to measure the competitiveness of countries. Leaders look at it to make policy and resource allocation decisions because global competitiveness is expected to be related to economic growth. However, studies which analyze the empirical relationship between these two economic categories are very rare. It is still an open question in the literature whether economic growth can be used to predict future global competitiveness or the other way round. This paper empirically tests the relationship between the GCI and the economic growth rate by using a panel Granger causality analysis based on annual data for 114 countries divided into five groups by income criteria and covering the period 2006-2014. We confirm a strong unidirectional causality among the countries analyzed, i.e. GDP growth causes global competitiveness. Additionally, we find that the GCI is not successful in predicting economic growth for the majority of the 114 counties, with the exception of few large economies such as China, India, the United States and Russia. |
| Keywords: | Global Competitiveness Index; economic growth; panel Granger causality test |
| JEL: | O40 O57 C23 F43 |
| Date: | 2015–04 |
| URL: | http://d.repec.org/n?u=RePEc:pes:wpaper:2015:no63&r=cis |
| By: | Edzhibiy, Tatyana; Degtyareva, Svetlana; Demchenko, Svetlana |
| Abstract: | The authors analyze the state of the scope of the consumption of goods and services in the Krasnoyarsk region. Using the method of least squares are designed Keynesian consumption function of the population of the Krasnoyarsk Territory |
| Keywords: | экономика региона, сфера потребления товаров и услуг, кейнсианские функции потребления, экономическая динамика |
| JEL: | O14 P47 |
| Date: | 2014–04–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:63661&r=cis |
| By: | Zudin, Nikolay |
| Abstract: | Based on basic and alternative theories of intrapreneurship a case-study analysis of its implementation in conservative and innovation friendly companies was conducted resulting in intrapreneurship management recommendations. Conservative companies are encouraged to adapt foreign management models to national realities. Innovation friendly companies should establish the process of intrapreneurship to select the most breakthrough ideas or should «buy» successful entrepreneurs. На основе базовой и альтернативной теории внутреннего предпринимательства был выполнен анализ примеров его реализации в консервативных и восприимчивых к идеям компаниях, и были выдвинуты рекомендации по его управлению. Консервативным компаниям рекомендуется применять готовые модели из зарубежной практики с адаптацией к отечественной. Восприимчивым к идеям компаниям следует наладить процесс внутреннего предпринимательства для отбора самых прорывных идей или стоит «покупать» успешных предпринимателей. |
| Keywords: | intrapreneurship, corporate entrepreneurship, implementation of intrapreneurship, cases studies and examples of intrapreneurship; внутреннее предпринимательство, корпоративное предпринимательство, внедрение и реализация внутреннего предпринимательства, примеры внутреннего предпринимательства. |
| JEL: | O31 O32 |
| Date: | 2015–03–17 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:63627&r=cis |
| By: | Das Gupta,Monica |
| Abstract: | Sex ratios at birth rose sharply in the South Caucasus countries after 1991, but recent data indicate that this trend is turning. What caused this rise, and what can be done to accelerate its normalization? Traditional kinship systems in the region are similar to those of other settings with sex-selection: structured for collaboration among male kin and dependence only on sons, not daughters. Yet it is anomalous to find sex-selection in a region that under the Soviet Union has for long been substantially urbanized and gender-equitable in public life ? factors associated with declines in sex-selection elsewhere. Sex-selection manifested itself only after the sudden economic and governance meltdown following the dissolution of the Soviet Union in 1991. Jobs, basic services, and social protection mechanisms unraveled. People scrambled for coping mechanisms, and sons offer the traditional form of support under uncertainty. Basic services, pensions, and safety nets have been rebuilt, but the process involved years of policy changes. Strengthening these institutions, and maintaining credible continuity of expectations in them, is critical to accelerating normalization of sex ratios. |
| Keywords: | Gender and Law,Gender and Development,Population Policies,Health Monitoring&Evaluation,Gender and Health |
| Date: | 2015–04–09 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:7236&r=cis |
| By: | Jurgita Bruneckiene (Kaunas University of Technology); Jolita Sinkiene (Kaunas University of Technology) |
| Abstract: | This article analyzes the issues of economic competitiveness evaluation of cross-border cities under the context of urban shrinkage. Currently the "urban shrinkage" issue is on the top of the political agenda in Europe. Under the globalization conditions, especially cities, which suffer from urban shrinkage, have to find new and modern means and attitudes for increasing urban competitiveness. The absence of methodological tools for the evaluation of economic competitiveness of the cities of cross-border regions is becoming one of the obstacles that impede the real identification of the current situation and predicting perspectives of the cross-border urban development and competitiveness. The purpose of the article – to identify the challenges and factors for improvement of economic competitiveness of the cross-border cities under the context of urban shrinkage and to develop methodological guidelines for the evaluation of cross-border regional economic competitiveness based on the findings of analysis performed on Lithuanian-Polish cross-border cities. The article distinguishes basic characteristics of the shrinking cities and related problems that have a direct impact on the improvement of economic competitiveness of the city. The economic competitiveness evaluation methodology on the cross-border cities is developed and its practical applicability is verified, based on the sample of Lithuanian-Polish cities (Alytus, Marijampole (Lithuania) and Elk, Bialystok (Poland). Panevezys and Siauliai are additionally added to the analysis as industrial cities located near Lithuania - Latvia border). Strategic recommendations on improving the economic competitiveness of Lithuanian-Polish cross-border cities are introduced in the context of urban shrinkage. |
| Keywords: | city, cross-border region, economic competitiveness of cities, shrinking cities |
| JEL: | O11 O18 R11 R58 |
| Date: | 2015–04 |
| URL: | http://d.repec.org/n?u=RePEc:pes:wpaper:2015:no100&r=cis |
| By: | Trunin, Pavel (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Bozhechkova, Alexandra (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | The aim of this work is to conduct a comprehensive analysis of the influence of factors on the dynamics of the real exchange rate. Firstly, the basic theoretical and empirical models of the real exchange rate are studied, key factors of its short- and long-term changes are identified, including differential productivity, terms of trade, net foreign assets, government investment, import tariffs, etc. Second, the analysis of the main trends of macroeconomic indicators that impact on the formation of the real exchange rate in the pre- and post-crisis periods is made. The reasons for differences in the appreciation of the real exchange rates of a number of commodity-exporting countries in the 2000s. Thirdly, on the basis of the a-vector autoregression model the long-term-elastic stey real effective exchange rate on such fundamental factors as labor productivity differential, the real price of oil, the net outflow of private capital, the share of government spending in GDP for the period 1 sq. 1999 - 1Q. 2014, are evaluated. The above analysis of variance showed that more than 60% of the variance of the real effective exchange rate is explained by innovations in the real price of oil and differential productivity. Fourth, as a result of the construction of the pulse response functions were significant impact shocks fundamental factors on the dynamics of the real exchange rate shown. |
| Keywords: | real exchange rate, macroeconomic indicators, changes, labor productivity differential, terms of trade |
| Date: | 2015–03 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mak13&r=cis |
| By: | International Monetary Fund |
| Abstract: | This paper discusses Ukraine’s Request for Extended Arrangement Under the Extended Fund Facility (EFF) and Cancellation of Stand-by Arrangement (SBA). Despite tangible progress under the SBA, the crisis in Ukraine has increased its balance of payments and adjustment needs beyond what can be achieved under the current program. The authorities’ new four-year IMF-supported program aims to decisively address these challenges. The program lays out a strategy to restore financial and economic stability and resolve long-standing structural obstacles to growth. In view of Ukraine’s large external financing needs and the authorities’ strong policy commitments, the IMF staff supports approval of Ukraine’s four-year Extended Arrangement under the EFF with access equivalent to SDR 12.348 billion. |
| Keywords: | Extended Fund Facility;Monetary policy;Banking sector;Fiscal policy;Energy sector;Fiscal reforms;Economic indicators;Debt sustainability analysis;Letters of Intent;Staff Reports;Press releases;Stand-by arrangement cancellations;Extended arrangement requests;Ukraine; |
| Date: | 2015–03–12 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:15/69&r=cis |
| By: | Florent DEISTING; Charlotte SERS FONTAN; Farid MAKHLOUF |
| Abstract: | This paper examines the empirical relationship between remittances and economic growth in post-Soviet states, and the role that political stability plays in this context. Using Feasible Generalized Least Squares to tackle group heteroskedasticity and serial correlation in panels, we find that remittances have a significant negative correlation with the receiving countries' economic progress. Besides, this relationship is contingent upon the political stability the country enjoys. |
| Date: | 2015–04 |
| URL: | http://d.repec.org/n?u=RePEc:tac:wpaper:2014-2015_9&r=cis |