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on Confederation of Independent States |
| By: | Elena Kopnova (National Research University Higher School of Economics); Lilia Rodionova (National Research University Higher School of Economics) |
| Abstract: | A comparative analysis of the age impact on happiness in Russia and European countries was conducted. The European Social Survey data in 2012 for 29 countries were used. On the basis of an ordered logistic regression, a U-shape relationship between age and happiness was obtained for some of the analysed countries. By using cluster analysis, the countries were divided into 3 groups, in which the age effect varies greatly. In the counties of group 1 (for example, Iceland and Norway) happiness did not change at any age or increase smoothly in old age. Group 2 (Germany and France) had a clear U-shaped age-happiness form. Russia and some counties of former Soviet Union: Ukraine, Lithuania and Estonia were analysed in group 3, where the level of happiness decreased significantly in old age (over 60). In some countries (Belgium, Switzerland, Cyprus, Denmark, Finland, Israel, Italy, Sweden) all people were happy, regardless of age and the assumption of age-happiness U-shape relation was not found.The socio-economic determinants of happiness were also analysed in different age groups. Income satisfaction and subjective health were the more significant characteristics. |
| Keywords: | satisfaction, happiness, econometric modelling, age groups. |
| JEL: | C35 C38 I31 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:117/ec/2015&r=cis |
| By: | Mikhail Turchenko (National Research University Higher School of Economics); Sergey Shevchuk (National Research University Higher School of Economics) |
| Abstract: | Within the period of 1993-2014 Russia experienced four major electoral reforms: in 1993, 2002, 2005 and 2014. One more attempt to change the Russian electoral system initiated by the president in 1994-1995 failed. This article considers the cases of major electoral reforms in Russia through the veto player theory. It demonstrates that the reforms were successfully implemented in cases when the executive branch, striving for maximum control over the legislative process, was interested in such implementation and there were no other veto players, who were able to block passage of the law |
| Keywords: | institutional change, elections, veto players, executive branch, Russia |
| JEL: | D72 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:31/ps/2015&r=cis |
| By: | Sergei Mihalischev; Yulia Raskina |
| Abstract: | This paper investigates the relationship between economic development and environmental pollution among Russian regions based on the concept of Environmental Kuznets Curve. It shows how income inequality, growth of GRP and structure of regional economy affect emissions of three pollutants: carbon monoxide, nitrogen dioxide and sulfur dioxide. We estimate a panel data model using the Russian Statistical Agency's data for Russian regions in the period 2000–2013. It is shown that the majority of regions in Russia have not reached a turning point when economic growth leads to decrease in pollution. Growth of the non-manufacturing sector of GRP has either no statistically significant effect on the change in emissions or its impact is ambiguous. The increase in the level of economic inequality in the region is characterized by the decrease in emissions. |
| Keywords: | Environmental Kuznets Curve, regional development, pollution, structural changes in the economy |
| JEL: | Q56 P28 C23 |
| Date: | 2015–11–28 |
| URL: | http://d.repec.org/n?u=RePEc:eus:wpaper:ec0315&r=cis |
| By: | Tatiana A. Brazhnik (National Research University Higher School of Economics) |
| Abstract: | This article is motivated by the growing interest in the problem of Internet trademark usage and the comparatively low interest in the non-Internet equivalent. . Despite the fact that differences in the regulation of on-line and off-line trademark utilization have been recognized over a long period of time, there is still no harmonization among the numerous Russian laws in the field of ‘other means of individualization’. . Although recent research studies have been numerous, lawmakers still haven’t decided on how the Internet has influenced the exclusive rights granted within Chapter 76 of the Civil Code of the Russian Federation. The issue at hand is affected by the significant growth of the Internet and electronic commerce. Moreover, the problem discussed in this paper arises from the fundamental question of limits on the exercise of subjective civil rights. The aim of this paper is to analyze different means of individualization under Russian legislation; to show key aspects of usage and protection of the means of individualization on-line; to reveal the doctrinal theories stipulating the emergence of new distinctive objects; to describe the current and potential pitfalls of the legislative framework; and to demonstrate modern legal trends in this field. In addition, this paper suggests different steps for and models of further regulatory development |
| Keywords: | means of individualization, trademark, trade name, brand, company name, geographical indicators, appellation of origin of goods, commercial name, domain name |
| JEL: | O34 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:57/law/2015&r=cis |
| By: | Svetlana Chekhovskaya (National Research University Higher School of Economics) |
| Abstract: | This paper aims to add to the literature on the connection between corporate governance and corporate law development. “Corporate governance” came into vogue in the 1970s in the United States. Corporate governance had become the subject of debate worldwide by scholars, regulators, investors etc. This paper considers the nature and extent of corporate law contribution to the development of corporate governance and vice versa. In the last years, Russia and most continental countries (Germany, France, Italy) have enacted significant corporate law reforms. In Europe these reforms aim to strengthen the mechanisms of internal governance, empower shareholders, enhance disclosure requirements, and toughen public enforcement, which are the most effective tools for countering abuses by dominant shareholders. It is very much discussed among legal professionals in Russia that now we have the urgent need for the comprehensive review and modernization of corporate law and governance. However, the last two years Russian Civil Code and Federal Law “On Joint Stock Companies” were changed deeply. Under the new Civil Code, all legal entities (both commercial and non-commercial) are divided into corporate and unitary entities |
| Keywords: | Russian corporate law, soft corporate law, corporate governance |
| JEL: | K29 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:58/law/2015&r=cis |
| By: | Zarina Lepshokova (National Research University Higher School of Economics); Victoria Galyapina (National Research University Higher School of Economics); Nadezhda Lebedeva (National Research University Higher School of Economics) |
| Abstract: | This paper describes the impact of religious identity and perceived parent-child psychological closeness on their value similarity in different religious contexts (contexts of religious minority and majority). The total sample includes 454 respondents. Parents and adolescent children of 118 Russian Orthodox Christian families from the Kabardino-Balkarian Republic (KBR) (with 72% Muslim population) and 109 Russian Orthodox families from the Republic of North Ossetia-Alania (RNO-A) (with 91% Orthodox population) were surveyed using a questionnaire measuring values (PVQ-R of Schwartz), religious identity and scales of perceived parent-child closeness assessed by parents and adolescents developed by the authors. The results of structural equation modelling showed that religious identity of Russian Orthodox adolescents in KBR predicts parent-child value similarity (PCVS), while the perceived psychological closeness of adolescents with their parents negatively related to their value similarity. In RNO-A parental religious identity and psychological closeness assessed by both parents and children predict the PCVS. The discussion of the results is devoted to the role of religious context in the impact of religious identity and perceived psychological closeness on PCVS. |
| Keywords: | values, religious identity, perceived psychological closeness, religious context, Russian Orthodox Christians, the Kabardino-Balkarian Republic, the Republic of North Ossetia-Alania |
| JEL: | Z |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:54psy2015&r=cis |
| By: | Margarita M. Dadykina (National Research University Higher School of Economics); Alexei V. Kraikovski (National Research University Higher School of Economics); Julia A. Lajus (National Research University Higher School of Economics) |
| Abstract: | The Russian hunters used to kill animals in the Arctic long before the 18th c. However, the Petrine modernization has changed their life strongly. The Government has put the new goals in order to make the Russian blubber industry some kind of a driving force for the Europeanization of the enormous region of the Russian North. However, what were the economic and political contexts for that? And could this governmental project be successful at all? |
| Keywords: | Spitsbergen, Archangelsk, monopoly, blubber, international market. |
| JEL: | N5 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:117hum2015&r=cis |
| By: | Sergey Drobyshevsky (Gaidar Institute for Economic Policy) |
| Abstract: | Recently we see a growing interest to and debates on the role of international associations like G20 or BRICS in the global economic renewal and global economic governance. Along with this there is a lot of issues related to establishing new international financial institutions like the New Development Bank or the Asian Infrastructure Investment Bank. However, in our view, all these discussions are based on the experience of the preceding economic crises and false theoretical backgrounds. In the paper we consider the necessity of current processes as a natural response to a new systemic crisis and the probable secular stagnation in the global economy. We argue that because the situation is completely new for both academic economists and policy makers the appropriate response to the global economic challenges is to give more competition and independence to international institutions and national policies. Correspondingly, the role and tasks of G20, or BRICS, as well as role of the World Bank, the IMF, or the WTO should change. We see all those organizations rather as venues for presenting and discussion of domestically oriented national policies and cooperation of international financial organizations than ‘central planners’ aiming at elaborating jointly agreed policy favorable for all member countries. |
| Keywords: | Russian economy, secular stagnation, systemic crisis, BRICS, G20 |
| JEL: | H12 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:gai:wpaper:144&r=cis |
| By: | Rangan Gupta (Department of Economics, University of Pretoria); Christian Pierdzioch (Department of Economics, Helmut Schmidt University, Germany); Marian Risse (Department of Economics, Helmut Schmidt University, Germany) |
| Abstract: | We use the indexes of economic policy uncertainty (EPU) developed by Baker et al.(2015) for Canada and seven (China, France, Germany, Japan, Russia, United Kingdom, and United States) other countries to study international uncertainty links by means of a Bayesian Additive Regression Trees (BART) algorithm. Using partial-dependence plots, relative-importance measures, and permutation tests, we shed light on how EPU in Canada is linked to EPU in seven other countries. |
| Keywords: | Economic policy uncertainty, BART algorithm, Canada |
| JEL: | C11 C22 D80 |
| Date: | 2015–12 |
| URL: | http://d.repec.org/n?u=RePEc:pre:wpaper:201594&r=cis |
| By: | Levoshko, Tamila |
| Abstract: | Die vorliegende Studie untersucht erstmalig für die Ukraine und Polen, welchen Einfluss die politische Orientierung und die in den Regionen vertretenen Machtparteien auf die Zuflüsse von ausländischen Direktinvestitionen haben. Die empirische Untersuchung erfolgt auf regionaler Ebene im Zeitraum 2004-2012 anhand des Fixed-Effects-Schätzers. Die Ergebnisse zeigen, dass ein ‚political and partisan cycle‘ für die Zuflüsse der ausländischen Direktinvestitionen in der Ukraine und Polen existiert. Die politische Orientierung einer Region hat einen positiven Einfluss auf die Standortwahl der ausländischen Direktinvestitionen in beiden Ländern. In der Ukraine haben die Regionen, in denen die Tymoshenko-Partei an der Regierungsspitze ist, 22-33% höhere Zuflüsse des ausländischen Kapitals als Regionen mit der Janukovych-Partei an der Macht. In Polen gibt es hingegen keine robusten Parteieneffekte auf die ausländischen Direktinvestitionen. |
| Keywords: | Foreign Direct Investments; Political Orientation; Partisan Effects; Spatial Effects; Ukraine; Poland; Transition |
| Date: | 2015–12–23 |
| URL: | http://d.repec.org/n?u=RePEc:awi:wpaper:0606&r=cis |
| By: | Chi-Kong Chyong |
| Abstract: | Abstract Different hydrocarbon producer sales strategies have widely divergent implications for the value of Gazprom’s gas exports to Europe. In particular, hydrocarbon producers have commonly pursued two alternative sales strategies: (i) pure commodity production (border sales) and (ii) integrated supply, trading and marketing (ISTM). The impact of these two strategies on Gazprom’s export profits are examined under three sets of scenarios: (a) the possible entry of low-cost producers, (b) oil price dynamics and (c) the future of LTCs (pricing and volume structure). We also analysed how Statoil shifted its sales strategy in light of structural changes in European gas markets and conclude that the company began employing an ISTM strategy when the market in North-west Europe became liquid. Thus, when a market is mature, with an increasing number of buyers, the best sales strategy for a large hydrocarbon producer should be based on flexibility and increasing its use of market trading to maximise the value of its commodity. We conclude that an optimal export strategy for Gazprom should involve both a substantial and increasing portion of uncommitted volumes that can be traded in markets (gas hubs) and, if needed, some form of bilateral forward contract with a minimum take-or-pay level to secure infrastructure finance. |
| Keywords: | Long-term contracts, vertical integration, market trading, gas, Gazprom, Statoil, gas pricing, equilibrium energy modelling |
| JEL: | L14 L13 Q47 Q48 Q41 P28 O13 |
| Date: | 2015–12–21 |
| URL: | http://d.repec.org/n?u=RePEc:cam:camdae:1542&r=cis |
| By: | Konstantins Benkovskis (Bank of Latvia) |
| Abstract: | This paper evaluates misallocation of resources in Latvia during 2007–2013 using firm-level data. I found that allocation of resources worsened before 2010 and improved afterwards. Initially, misallocation of intermediate inputs was the major source of aggregate TFP losses, while the importance of capital misallocation increased after the financial crisis. Determinants of changes in allocation efficiency may include growing competition in domestic markets, tighter credit supply and legal issues. However, I show that fragmentation of production induces bias to the estimates of firm-specific distortions. Thus, in the absence of inter-firm trade data, the conclusions on misallocation should be treated with some caution. |
| Keywords: | misallocation, TFP, productivity, firm-level data, Latvia |
| JEL: | D24 L11 O11 O41 O47 |
| Date: | 2015–12–15 |
| URL: | http://d.repec.org/n?u=RePEc:ltv:wpaper:201505&r=cis |
| By: | Dmitry L. Komyagin (National Research University Higher School of Economics) |
| Abstract: | The article discusses the nature of non-tax public revenue. The author first offers his own universal definition of public revenue. This results in the discovery of a variety of theoretical and practical problems, which include decentralized revenue, non-uniformity of non-tax revenue, and a contradiction involved in grouping certain forms of revenue together. A proposal is offered to consider public revenue in its various phases, initially as a based in national wealth, then as mobilized in the form of budget revenue, redistributed for public needs, and then administered |
| Keywords: | public needs; public revenue; public expenses; Russian budget, budget revenue; tax revenue; non-tax revenue. |
| JEL: | K K |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:59/law/2015&r=cis |