nep-cis New Economics Papers
on Confederation of Independent States
Issue of 2015‒05‒30
seven papers chosen by

  1. Economic concentration and finance: Evidence from Russian regions By Hattendorff , Christian
  2. Quantifying the Value of Preferential Trade in Russia and CIS By Taganov, Boris
  3. Russia's current economic conundrum By Kucera, Jakub
  4. Choosing the Right Skew Normal Distribution: the Macroeconomist’ Dilemma By Wojciech Charemza; Carlos Díaz; Svetlana Makarova
  6. EDUCATION DEVELOPMENT IN UZBEKISTAN By B. Nazarova; S.Saidkarimova; Sh. Obloqulova

  1. By: Hattendorff , Christian (BOFIT)
    Abstract: The paper investigates the relationship between economic concentration and level of financial development to illuminate the linkage of real economy structure and financial markets. Using data from 81 Russian regions for the period 2005–2011, empirical evidence is offered to show that poor diversification weakens credit. Geographical variables are used as instruments of concentration in accounting for endogeneity. This work supports previous findings at the national level that policymakers seeking to promote economic development should place stronger emphasis on output diversification.
    Keywords: economic concentration; diversification; financial development; Russia
    JEL: E51 O11 R11
    Date: 2015–05–18
  2. By: Taganov, Boris
    Abstract: In this paper, we assess the value of Russia’s preferential imports from all trade partners and CIS countries in particular. Total value of preferential imports in Russia (both duty free imports as well as imports subject to the discounted MFN duty under GSP) is equal to ca 12% (37.8 USD bln.) of the total imports, of which ca 7.4% accounted for imports of Russia from CIS countries. We should note that ca 2.5% of preferential imports of Russia under GSP treatment was not imported duty free, but was subject to a 25% discount to MFN duty.
    Keywords: trade preferences, preferential trade agreement, MFN, GSP
    JEL: F13 F15
    Date: 2015
  3. By: Kucera, Jakub
    Abstract: This paper provides a concise overview of Russia's economy. First, it describes the growth model of the past fifteen years and explains why that model is now exhausted. Secondly, it examines the reaction of the country´s leadership to the stagnating economy. Finally, to evaluate the feasibility of any reform programme, the paper pinpoints the biggest economic problems currently facing Russia with an overview of the main questions relating to Russian modernization. The main problems examined will be those that the Russian economy faced before the current crisis, as these can still be considered fundamental and, as we will see, were actually causing considerable concern even before sanctions were imposed during the Ukrainian crisis and before the current economic crisis began.
    Keywords: Russia; economy; stagnation; crisis; problems; modernization
    JEL: E22 E24 E61 E66 F32 Q43
    Date: 2015–04–17
  4. By: Wojciech Charemza; Carlos Díaz; Svetlana Makarova
    Abstract: The paper discusses the consequences of possible misspecification in fitting skew normal distributions to empirical data. It is shown, through numerical experiments, that it is easy to choose a distribution which is different from that which generated the sample, if the minimum distance criterion is used. The distributions compared are the two-piece normal, weighted skew normal and the generalized Balakrishnan skew normal distribution which covers a variety of other skew normal distributions, including the Azzalini distribution. The estimation method applied is the simulated minimum distance estimation with the Hellinger distance. It is suggested that, in case of similarity in values of distance measures obtained for different distributions, the choice should be made on the grounds of parameters’ interpretation rather than the goodness of fit. For monetary policy analysis, this suggests application of the weighted skew normal distribution, which parameters are directly interpretable as signals and outcomes of monetary decisions. This is supported by empirical evidence of fitting different skew normal distributions to the ex-post monthly inflation forecast errors for Poland, Russia, Ukraine and U.S.A., where estimations do not allow for clear distinction between the fitted distributions for Poland and U.S.A.
    Keywords: Skew Normal Distributions, Ex-post Uncertainty, Inflation Forecasting, Economic Policy
    JEL: E17 C46 E52 E37
    Date: 2015–05
  5. By: Toshmurodova Buvsara
    Abstract: Uzbekistan being one of the rapidly growing countries in Central Asia is characterized as emerging economy. Nowadays, Uzbekistan Government encourages entrepreneurs/companies to manufacture high value added products and become competitive players in global market. Thus, Uzbekistan needs to develop and improve contemporary management systems; including financial management. This article includes interesting information about the history of development of financial management in Uzbekistan. Author tried to describe improvement trends of financial management system in Uzbekistan by using theoretical and scientific analysis. There were written some key issues for development of financial management systems. Author approached to financial management as a system which plays a vital role in development of the whole organization. There was explained financial management domain. It’s notable that information system issues of financial management were also described. Paper shows the basic results of research aiming to investigate financial management issues in Uzbekistan. Availability of two things – systematic approach and principle of system is characterized as main condition to develop financial management systems. Key words: financial management, financial data, financial resources
    Date: 2014–12
  6. By: B. Nazarova; S.Saidkarimova; Sh. Obloqulova
    Abstract: The present level of scientific, technical and socio-economic development based on knowledge, determines the leading role of education in the renewal of all aspects of society.Education, among the factors influencing thefunctioning of the human potential, occupies a leading position.Radical reforms initiated in Uzbekistan, called for the creation of the education system that was adequate for socio-economic transformation of societyand the perspectives of its development.The concept of reforming education, developed in Uzbekistan, envisages the followings as the most important goals:the reorientation of the education systemonto market economy and open society; creation of equal opportunities foreducation as a condition for raising the standard of living; improvingthe system of financing education in order to provide a stable and qualified educational services and increase efficiency of resources utilization; improving the management of the education sector.The concept of public policy and the reform of education in Uzbekistan were embodied in the new Law “On Education” and the National Professional Training Program, adopted on August 29, 1997 by the Parliament of the Republic of Uzbekistan. Key words: education, development, uzbekistan
    Date: 2015–03
  7. By: Usman Sharifkhodjaev
    Abstract: This paper discusses about brand management in the media market of the Republic of Uzbekistan. The author focuses on studyof leading websites of the country, such as “” and “”. Also in the paper based on the views of market participants identifies the main problems faced by the media in brand management. Key words: Brand, brand management, mass-media, electronic mass media
    Date: 2015–03

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