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on Confederation of Independent States |
| By: | Ruslan Nurullaev (National Research University Higher School of Economics) |
| Abstract: | On 14 July, 2015 the Russian President signed Law No. 264-FZ which grants Russian citizens the right to request the delisting of search results which link to inaccurate or irrelevant information about them (“the right to be forgotten”).This paper discusses the decision of the Court of Justice of the EU in Google Spain v. Agencia Espanola de Proteccion de Datos (AEPD) and Mario Costeja Gonzalez, the case which inspired Law No. 264-FZ, and compares implementation of the right to be forgotten in the EU and Russia. It is found that the Russian law was created as a sui generis right, and fails to account for the right of the general public to find and access information online. Other discrepancies include a wider scope of the right to be forgotten, rigid requirements for processing removal requests and the prohibition to disclose any information about such requests. |
| Keywords: | Costeja, European Union, Google Spain, information intermediaries, internet, internet service provider liability, internet service providers, personal data, the right to be forgotten. |
| JEL: | K39 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:54/law/2015&r=all |
| By: | Dreger, Christian (BOFIT); Fidrmuc , Jarko (BOFIT); Kholodilin , Konstantin (BOFIT); Ulbricht , Dirk (BOFIT) |
| Abstract: | The exchange rate fluctuations strongly affect the Russian economy, given its heavy dependence on foreign trade and investment. Since January 2014, the Ruble lost 50% of its value against the US Dollar. The fall of the currency started with the conflict between Russia and Ukraine. The impact of the conflict on Russia may have been amplified by sanctions imposed by Western countries. However, as Russia is heavily dependent on exports of natural re-sources, the oil price decline starting in Summer 2014 could be another factor behind the deterioration. By using high frequency data on nominal exchange and interest rates, oil prices, actual and unanticipated sanctions, we provide evidence on the driving forces of the Ruble exchange rate. The analysis is based on cointegrated VAR models, where fundamental long-run relationships are implicitly embedded. The results indicate that the bulk of the depreciation can be related to the decline of oil prices. In addition, unanticipated sanctions matter for the conditional volatility of the variables involved. |
| Keywords: | military conflict; sanctions; oil prices; Ruble depreciation |
| JEL: | C22 F31 F51 |
| Date: | 2015–08–21 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:bofitp:2015_025&r=all |
| By: | Evgeny A. Kanaev (National Research University Higher School of Economics); Anastasia S. Pyatachkova (National Research University Higher School of Economics) |
| Abstract: | Russia is shifting its foreign policy focus to the Asia-Pacific region because of internal (the necessity to develop Siberia and the Far East) and external (a deepening crisis in relations with the West) factors. For this policy to be a success, Russia needs a stable and predictable regional milieu while confrontation in Asia-Pacific security is on the rise. Evidence for this assessment is provided by the current state of regional maritime security challenges. They are evolving at a faster pace than the regional mechanisms and institutions aimed to keep them within manageable bounds. The simultaneous rise of the global dimension in the main challenges to Asia-Pacific maritime security—primarily the set of issues related to the South China Sea—call for the increased involvement of an established global actor with significant economic potential, independent foreign policy and genuine interest in preserving peace and security in the Asia-Pacific region. In the current circumstances, this role cannot but be assumed by Russia. The paper discusses the specificity of current Asia-Pacific maritime security trends, Russia’s regional priorities and policy instruments which could be used to decrease tensions in the key regional maritime security challenges. |
| Keywords: | Maritime security in Asia-Pacific, territorial disputes, freedom of navigation, Russian policy, multilateral cooperation |
| JEL: | Z |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:17/ir/2015&r=all |
| By: | Leppänen , Simo (BOFIT); Solanko, Laura (BOFIT); Kosonen, Riitta (BOFIT) |
| Abstract: | This paper explores the implications of climate change for government expenditures. Using a rich sub-national dataset for Russia covering 1995–2009, we estimate the impacts of changes in climatic conditions through short-term variation and medium-term changes in average regional temperatures and precipitation. We show a strong and robust negative (but non-linear) relation between regional budget expenditures and population-weighted temperature. The results indicate that an increase in temperature results in a decrease in public expenditures and that the magnitude of this effect diminishes the warmer the region. Further, our results suggest that the benefits from warming accumulate and that adaptation measures could help leverage those benefits. The estimated decreases in regional government expenditure are, however, quite small. It should be noted that our results are estimated for a scenario of mild temperature increase (1–2 °C). Larger temperature increases are likely to have dramatic consequences e.g. from loss of permafrost and methane release that are impossible to predict with available historical data. |
| Keywords: | climate change; public expenditures; adaptation; non-linearity; Russia |
| JEL: | C50 H72 P20 Q54 Q58 R59 |
| Date: | 2015–09–22 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:bofitp:2015_027&r=all |
| By: | Elmira Orazaliyeva (Nazarbayev University); Fauziya Orazbayeva (Kazakh National Pedagogical University named after Abay) |
| Abstract: | Language policy is a protection of each language rights and a presence of aspirations of the people, who want to save their roots. The legal basis of a language policy as a main condition of a language construction helps to save a proportion between an official language and others. There is a possibility to regulate major communication areas with a real situation in the global world. We have two sides of this decision: firstly, it is necessary to emphasize on national identity and, secondly, you have to be a member of global society. You might match these two aspects of modern existence with the help of some rules, which are subjects of a justice system.For example, as we know, the main significant document in Kazakhstan is Constitution of the Republic of Kazakhstan in the Article 7 mentioned: «The state language of the Republic of Kazakhstan shall be the Kazak language» (Constitution 1995). Also, the language policy of Kazakhstan is regulated by «Law of the Republic of Kazakhstan on Languages». This document was prepared in 1997 and noticed that «The state language of the Republic of Kazakhstan shall be the Kazakh language. The state language shall be the language for state management, legislation, legal proceedings and office work, functioning in all spheres of social relations in the entire territory of the state. The duty of each citizen of the Republic of Kazakhstan shall be mastering of the state language, being the major factor in consolidating the people of Kazakhstan» (Law 1997). Kazakhstan also has the special state program for developing languages named «The State Program for developing and function the languages in The Republic of Kazakhstan for 2010 – 2020 years». It includes the ten years of realization. It focuses on quality analysis and processes of deep immersion, like the special periods of realization, involving quality indicators.Sociolinguistics creates the general aspects of the deep connection between society, language and justice. More specifically, it includes the problems of language rights, equal opportunity and language use in different countries with different advocated systems. The legal basis of the language construction based on the social and political evidence with national priority, and, of course, ideological mechanism. In a world of deep connections, it is important to search all opportunities and realities of each language. Moreover, we need to observe the probability of interactions in language relationships. |
| Keywords: | Sociolinguistics, Language policy, language construction |
| JEL: | O29 C18 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:2804943&r=all |
| By: | Idrisov, Georgy (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Taganov, Boris (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | The paper presents the results of an empirical analysis of investment effects of accession to the various preferential trade agreements, meaningful interpretation of the quantitative estimates is worked out. Based on the results, practical recommendations for the economic policy of Russia are developed. |
| Keywords: | investment effects, preferal trade agreements, international investment, economic policy, Russia |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mn63&r=all |
| By: | Idrisov, Georgy (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Istomin, R. (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Kaukin, Andrey (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | World trade has expanded significantly in the second half of the 20th century: in the period from 1948 to 1973 the value of trade at current prices increased from 59 to 579 billion dollars a year. World GDP in nominal terms over the same period increased by 6 times. The growth rate of exports in real terms, faster than the growth rate of real GDP doubled during the second half of the 20th century. A considerable role in this rapid growth of trade relations played the Bretton Woods agreements and the multilateral liberalization of trade regimes pursued in the framework of the GATT. Trade liberalization has in fact decline in trade barriers, expanding production capacity through the involvement of the world economy into the global production chain companies with more low relative cost of production, which contributes to the global division of labor, an increase in world production of equalization between the two countries and marginal rates of substitution of some other goods. In theory, a totally free trade is beneficial to all market participants if they are quite small in comparison with the global market and can not influence world prices. However, trade liberalization does not necessarily lead to an increase in the welfare of even small-sized countries which are not able to influence world prices. International trade theory does not give an unambiguous answer to the question of whether this specific agreement increasing the well-being of participants, or decreases. Effect of preferential trade agreements concluded on the welfare of his country depends on the manner in which trade flows are redistributed as a result of this agreement. If the increase in trade between the members of the agreement is due to the decrease in imports from third countries, the agreement has a negative effect on the welfare of its members. If the increase in trade with partners in the PTS associated with a reduction of trade costs between them and does not reject trade from third countries, the agreement increases the welfare of the members. The question of whether the agreement increasing the well-being of countries that have concluded it is important from the economic and political point of view as the goal of the government should be the welfare of their citizens. In practice, governments often when making a decision on the conclusion of a trade agreement governed the benefits of any industry or a limited group of persons. Such motives usually are in conflict with the objective of maximizing social welfare. The actual total impact of each preferential trade agreement on welfare can be found only empirically. In this paper we present an assessment entered into force in 2010. The agreement on the establishment of the Customs Union of Belarus, Kazakhstan and Russia, and examine whether it has a positive impact on the welfare of the participating countries. Evaluation is done by cross-sectional comparison of the world's trade in different periods of time. Use gravity empirical model of international trade, which has one of the highest explanatory power and, at the same time, a stable theoretical basis, following several general equilibrium models. This econometric model is a cross-sectional model, which means that in reality the long-term effect may be greater than estimated in the work due to the fact that at present not all barriers to trade between the two countries fell to their long-term levels and trade flows could not time to respond to changes that have occurred to date. |
| Keywords: | trade agreements, international trade, trade liberalization |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mn62&r=all |
| By: | Nadeþda Siòenko (Bank of Latvia); Olga Lielkalne (Bank of Latvia) |
| Abstract: | The Discussion Paper analyses a risk cobweb diagram employed as an additional analytical tool for monitoring and assessing financial stability risks in Latvia. The aim of the risk cobweb diagram is to depict the most important financial stability risks across specified risk categories and the direction of their changes in a single chart. The risk cobweb diagram and the dynamics of the index corresponding to each risk category and its components make it possible to visualise and analyse development of external and domestic macrofinancial risks and vulnerability changes of the banking sector in Latvia by assessing the credit risk of non-financial corporations and households, profitability and solvency risks of credit institutions, as well as funding and liquidity risks. The Discussion Paper gives the overview of the use of the risk cobweb diagram and its methodology in other countries. It also outlines the process of the development of such a diagram in Latvia and describes selected risk categories an indicators. The Discussion Paper concludes that the results of the back-testing of the risk cobweb diagram have been adequate. In 2008 and 2009, the risk category assessments of the risk cobweb diagram signalled threats to financial stability, while risk category indices and their components allowed the identification of the areas where accumulation and materialisation of financial stability risks occurred. Keywords: financial stability, risk cobweb diagram, risk categories, monitoring of financial system stability, assessment of financial system stabilityThe Discussion Paper analyses a risk cobweb diagram employed as an additional analytical tool for monitoring and assessing financial stability risks in Latvia. The aim of the risk cobweb diagram is to depict the most important financial stability risks across specified risk categories and the direction of their changes in a single chart. The risk cobweb diagram and the dynamics of the index corresponding to each risk category and its components make it possible to visualise and analyse development of external and domestic macrofinancial risks and vulnerability changes of the banking sector in Latvia by assessing the credit risk of non-financial corporations and households, profitability and solvency risks of credit institutions, as well as funding and liquidity risks. The Discussion Paper gives the overview of the use of the risk cobweb diagram and its methodology in other countries. It also outlines the process of the development of such a diagram in Latvia and describes selected risk categories and indicators. The Discussion Paper concludes that the results of the back-testing of the risk cobweb diagram have been adequate. In 2008 and 2009, the risk category assessments of the risk cobweb diagram signalled threats to financial stability, while risk category indices and their components allowed the identification of the areas where accumulation and materialisation of financial stability risks occurred. Keywords: financial stability, risk cobweb diagram, risk categories, monitoring of financial system stability, assessment of financial system stability. |
| Keywords: | assessment of financial system stability, financial stability, monitoring of financial system stability, risk categories, risk cobweb diagram |
| JEL: | E32 E44 E58 G10 |
| Date: | 2015–07–17 |
| URL: | http://d.repec.org/n?u=RePEc:ltv:dpaper:201501&r=all |
| By: | de Haas, Ralph (Tilburg University, Center For Economic Research); Djourelova, Milena; Nikolova, Elena |
| Abstract: | We use detailed survey data to document stark differences between West<br/>and East Ukraine when it comes to household attitudes toward market-based<br/>economies and democratic institutions. Along both of these dimensions, Eastern<br/>Ukrainians are decidedly less supportive of liberal systems. We also find that economic attitudes changed in response to the global financial crisis. West Ukrainian households who were affected more extensively by the crisis were more disappointed with the market and private ownership, while in Eastern Ukraine economic attitudes became less pro-market across the board. Our evidence suggests that attitudes and values are determined by both deep-rooted factors and more transient macroeconomic shocks. |
| Keywords: | financial crisis; socail preferences; Ukraine |
| JEL: | F36 P20 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:tiu:tiucen:5000d137-7226-4183-989a-99f20efa4069&r=all |
| By: | Catherine Locatelli (équipe EDDEN - PACTE - Politiques publiques, ACtion politique, TErritoires - CNRS - Grenoble 2 UPMF - Université Pierre Mendès France - IEPG - Sciences Po Grenoble - Institut d'études politiques de Grenoble - Grenoble 1 UJF - Université Joseph Fourier) |
| Abstract: | Le développement des échanges gaziers entre la Russie et la Chine s’inscrit dans un processus qui de part et d’autre vise une stratégie de diversification afin de répondre à des préoccupations de sécurité énergétique dans ses deux dimensions, offre et demande. Il s’agit pour la Chine de sécuriser son approvisionnement gazier par la diversification de ses fournisseurs et de ses routes d’importation (sécurité de l’offre). Il s’agit pour la Russie de diversifier ses marchés d’exportation pour sécuriser la demande gazière qui lui sera adressée. Au-delà de ces enjeux économiques, le développement des échanges gaziers entre la Russie et la Chine s’inscrit dans un contexte institutionnel particulier. Ce dernier est marqué par une relative proximité des modèles d’organisation de leurs industries gazières respectives, ainsi que des modalités de leur régulation (règles, normes) et une forte opposition au modèle concurrentiel de l’UE. Les modalités de gestion de la sécurité énergétique en sont fortement impactées. |
| Keywords: | Échanges de gaz naturel,Chine,Russie,structure de gouvernance,industrie gazière |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01206226&r=all |