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on Confederation of Independent States |
| By: | BLINOV, Sergey |
| Abstract: | Money supply statistics based on the Year 2015 results show that «money starvation» is coming to an end in Russia. That has always been truly indicative of exit from the crisis. The depth of money supply decline in 2015 (it declined by 11%) proved to have been the smallest one in the whole history of post-Soviet Russia. This constitutes a relative success of the policy conducted by the Central Bank of Russia. The reason for this success is that it has been keeping positive growth rates of the nominal money supply and keeping inflation under control. Continuation of such policy would mean independence of economic growth in Russia of oil prices. |
| Keywords: | Monetary Policy, Central Banking, Interest Rates, Economic Growth, Money Supply |
| JEL: | E31 E32 E40 E51 E52 E58 E65 G01 N10 O11 |
| Date: | 2016–02–13 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:69521&r=cis |
| By: | N. Kosareva (National Research University Higher School of Economics); Tatiana D. Polidi (National Research University Higher School of Economics); A. Puzanov (National Research University Higher School of Economics); E. Trutnev (National Research University Higher School of Economics); Ye. Igumenov (National Research University Higher School of Economics) |
| Abstract: | Russian cities currently feel the utmost need both for improving the affordability of housing and upgrading the quality and enhancing the beautification of the urban environment, developing public spaces, expanding the diversity of forms of housing tenure for different categories of citizen. Implementation of the housing policy objectives necessitates a considerable update of urban planning policy which is currently characterized by minimum urban planning regulations and inadequate enforcement of those in place. Urban development regulation and land use system remains a source of ‘administrative rent’ and appears to be unable to ensure a transparent legal framework for investors and developers, which is replaced by high administrative barriers. The paper reviews the current state of housing and urban planning policies in Russia, the practice of reconciling the goals, objectives and instruments of the foregoing policies. Housing and urban planning policies both at federal and local levels are described and case studies of inconsistencies in implementation of housing and urban planning policies in Russian cities are analyzed. The paper also sets forth the proposals on how to streamline housing and urban planning policies with a view to improving the affordability of housing and upgrading the quality of urban environment |
| Keywords: | housing policy, urban planning policy, urban environment, Russia |
| JEL: | R31 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:03/urb/2016&r=cis |
| By: | Akerlof, George A.; Snower, Dennis J. |
| Abstract: | Standard economics omits the role of narratives (the stories that people tell themselves and others) when they make all kinds of decisions. Narratives play a role in understanding the environment; focusing attention; predicting events; motivating action; assigning social roles and identities; defining power relations; and establishing and conveying social norms. This paper describes the role narratives play in decision making, as it also juxtaposes this description against the backdrop of the Bolshevik-spawned narrative that played a critical role in the history of Russia and the Soviet Union in the 20th Century. |
| Keywords: | narrative,motivation,attention,prediction,identity,social assignment |
| JEL: | A12 A13 A14 D03 D04 D20 D23 D30 D62 D71 D72 D74 E02 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkwp:2022&r=cis |
| By: | Mariia I. Okuneva (National Research University Higher School of Economics); Dmitriy B. Potapov (National Research University Higher School of Economics) |
| Abstract: | Smartphone applications are becoming an important marketing channel that allows to build long-term relationship with customers. The main advantage of advertising through this kind of media is an opportunity to individually target users with different offers, taking into consideration their characteristics and purchase history. However, little is known about the effectiveness of such practice. We use a purely randomized natural field experiment with 11338 customers of large Russian retail chain to understand factors that influence the effectiveness of advertising through smartphone application. We find that the impact of conducted advertising campaign either on number of purchases or purchase amount is slightly negative on average. While most previous studies report positive effect of advertising through mobile devices, we can explain the average negative effect by influence of small discount (less than 20%) offers on consumers’ behavior. Holiday text of the message makes this effect even stronger. Consistent with the literature, the average effect of advertising depends on RFM characteristics of customers. However, the loyalty of consumers or different texts of an advertising message do not affect the effectiveness of advertising via mobile application. These results can help a retail chain to elaborate rules for individual targeting that assure more profits |
| Keywords: | mobile targeting, randomized field experiment, mobile application, advertising effectiveness. |
| JEL: | M31 M37 C93 L86 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:47man2015&r=cis |
| By: | Goncharova, Lyudmila Ivanovna (Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | Need of development of new model of financing for three types of the municipal organizations of the general education locates in article: state, budgetary, autonomous. On the basis of the analysis of distinctions in a legal status (status) and an economic situation of the organizations of the general education, features of the mechanism of the budgetary and off-budget financing are revealed. It is proved that the modern funding mechanism is directly connected with quality of the educational services rendered by the organizations of the general education. |
| Keywords: | state, budgetary, autonomous organizations of education; per capita financing; subsidy; budgetary and off-budget financing; state task |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:gorpc1&r=cis |
| By: | Vera Barinova (Gaidar Institute for Economic Policy); Denis Burkov (RANEPA); Stepan Zemtsov (RANEPA); Vladimir Eremkin (RANEPA) |
| Abstract: | The Soviet Union predetermined Russia’s economic activity’s location patterns. While the main forms of industry organization were territorial production complexes (TPC) - networks of industrial organizations united by a single technological process, - switch to the market economy in the early 90s destroyed economic ties within the TPC, leading to fragmentation of large enterprises and formation of a number of independent firms. Some scientists believe that this situation over the last 20 years could serve as a necessary foundation for clusters’ formation. Nowadays interest in clusters in Russia is rekindled due to the need to find new support mechanisms for production and innovation in a stagnating economy. The Ministry of Economic Development of the Russian Federation has initiated a project to support pilot territorial innovation clusters with infrastructure formation funding. The aim of this work is to identify clusters as areas of geographical concentration of small and medium enterprises (SMEs) in high technology sector. Authors also try to check, whether existing cluster initiatives comply with the actual concentration of high-tech SMEs and whether there is any potential for new cluster initiatives. The present paper analysis exploits modified methodology, based on localization index. The study provides tables and maps, reflecting small and medium businesses concentration in Russian regions using evidence from high and medium-high technology industries. The authors empirically confirm the existence of traditional and well-known clusters and identify new concentrations of firms in Russia. This useful information can be used for policy advice. |
| Keywords: | cluster identification, localization, SME, Russian regions, industrial complex, territorial innovation cluster, innovation, high technology, innovative firms |
| JEL: | F34 G24 O18 O47 R11 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:gai:wpaper:147&r=cis |
| By: | Certan, Simion; Certan, Ion |
| Abstract: | In the present study, the authors are reflecting upon the concept and the achievements of the part of the agrarian reform dealing with the economic and social development of the village in Moldova, which has as main task ”the peasant’s social and economic protection”, as well as upon the national Program „The Moldovan Village” which covers the legal framework for the sustainable rural development during 2005-2015”. Today, almost a quarter of a century since the adoption of the agrarian reform and of the concept of the village’s social and economic development, we are presenting a rural development evaluation study. |
| Keywords: | Rural space, village, economy, culture, development, efficiency |
| JEL: | Q15 R11 R51 R58 |
| Date: | 2015–11–20 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:69328&r=cis |
| By: | Baburin, Vyacheslav; Zemtsov, Stepan |
| Abstract: | The authors explored the potential of new information and communications technologies (ICT) absorption in Russian regions primarily on an example of mobile communication. ICT-sector is rapidly growing, especially in consumer market, and it is an ideal object for diffusion research because it is fast spreading, and it can be obtained by almost all parts of a social system. The purpose was to classify regions by the rate of innovativeness. The saturation rate for mobile phone usage (active SIM cards per 100 people) was used as a proper indicator on the first stage of the research. All regions were classified according to rates of diffusion from 1999 to 2011, and five clusters were identified, corresponding to diffusion stages, identified by E. Rogers: innovators, early adopters, early majority, late majority and laggards. There were four stages of spatial diffusion, according to the theory of T. Hagerstrand. Each stage were determined by several factors. The most influential factors were income, price of services and competition. Mobile phone usage in most Russian regions reached 100% saturation (one active SIM card per capita) in 2006-2007. Later development was determined not by demand for phone connection, but by the demand for internet connection, which was easily provided by mobile systems in smartphones, tablets, and other devices. To assess the innovativeness of regional communities, or their ability to absorb new products, cluster analysis, based on the threshold values of Bass model parameters, was performed. The results were similar to those obtained earlier, but the early appearance of innovators in several regions did not increase the total number of users. Both previous methods of classification could be biased regarding special features of mobile communication diffusion. That is why, on the last stage an integral index of innovativeness was introduced, including rate of diffusion for several ICT-products on the early period of their introduction. The analysis proved that hierarchical model of diffusion from the main centres to secondary prevailed in Russia. Factor of geographical location also played an important role. The research showed the significant difference in the rate of diffusion between Russian regions. Five stable clusters were identified, which were corresponding with idea of “five Russias” existence. Moscow and Saint Petersburg’s rate of diffusion was higher than in most countries, but there was a widespread periphery. |
| Keywords: | geography of innovation, diffusion of innovation, Russian regions, mobile communication, logistic curve, Bass model, regions-innovators, index of innovativeness |
| JEL: | L86 O33 O52 R19 |
| Date: | 2014–05–02 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:68926&r=cis |
| By: | Brown, Martin; Haas, Ralph De; Sokolov, Vladimir |
| Abstract: | We exploit variation in consumer price inflation across 71 Russian regions to examine the relationship between the perceived stability of the domestic currency and financial dollarization. Our results show that regions with higher inflation experience an increase in deposit dollarization and a decrease in the dollarization of loans to households and firms in non-tradable sectors. The negative impact of inflation on credit dollarization is weaker in regions with less integrated banking markets. This suggests that the asset-liability management of banks constrains the currency-portfolio choices of both households and firms without a natural currency hedge. |
| Keywords: | Financial dollarization, financial integration, regional inflation |
| JEL: | E31 E42 E44 F36 G21 P22 P24 |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:hit:remfce:22&r=cis |