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on Confederation of Independent States |
| By: | Alfred Haug (Department of Economics, University of Otago, New Zealand); Syed Abul Basher (Department of Economics, East west University, Bangladesh); Perry Sadorsky (School of Business, York University, Canada) |
| Abstract: | The impact that oil shocks have on stock prices in oil exporting countries has implications for both domestic and international investors. We derive the shocks driving oil prices from a fully-identified structural model of the oil market. We study their nonlinear relationship with stock market returns in major oil-exporting countries in a multi-factor Markov-switching framework. Flow oil-demand shocks have a statistically significant impact on stock returns in Canada, Norway, Russia, Kuwait, Saudi Arabia, and the UAE. Idiosyncratic oil-market shocks affect stock returns in Norway, Russia, Kuwait, Saudi Arabia and UAE. Speculative oil shocks impact stock returns in Canada, Russia, Kuwait and the UAE. Flow oil-supply shocks matter for the UK, Kuwait, and UAE. Mexico is the only country where stock returns are unaffected by oil shocks. These results shed important light on investor sentiment toward the relationship between oil shocks and stock markets in oil exporting countries. |
| Keywords: | Markov-switching; oil-exporting countries; oil-market shocks; stock returns |
| JEL: | E44 G15 Q43 |
| Date: | 2017–10 |
| URL: | http://d.repec.org/n?u=RePEc:otg:wpaper:1710&r=cis |
| By: | Ивантер Виктор Викторович (Институт народнохозяйственного прогнозирования) |
| Date: | 2017–10–05 |
| URL: | http://d.repec.org/n?u=RePEc:scn:mxreqp:10092017&r=cis |
| By: | Коровкин Андрей Германович (Институт народнохозяйственного прогнозирования) |
| Date: | 2017–10–05 |
| URL: | http://d.repec.org/n?u=RePEc:scn:mxreqp:23082017&r=cis |
| By: | Янков Кирилл Вадимович (Институт народнохозяйственного прогнозирования) |
| Date: | 2017–10–05 |
| URL: | http://d.repec.org/n?u=RePEc:scn:mxreqp:29082017&r=cis |
| By: | Ивантер Виктор Викторович (Институт народнохозяйственного прогнозирования) |
| Date: | 2017–10–05 |
| URL: | http://d.repec.org/n?u=RePEc:scn:mxreqp:27082017&r=cis |
| By: | Natali, Starovoytova; Victor, Stukach |
| Abstract: | In the present work, the socio-economic essence and role of the institutional in the system of providing food aid to the needy population is investigated, the composition and functions of institutions, the mechanism of interaction between participants in the production, social, credit and financial and trade spheres are determined. The potential of the resource base and the institutional environment for the functioning of organizations within the region's internal food aid system has been assessed.A methodology for determining the resource potential of the region is proposed, based on an integrated approach that includes both an assessment of the possibility of self-sufficiency in the population's food supply and the potential of land resources for environmentally friendly production by involving unsuitable for intensive farming of soils; as well as the mechanism for increasing the production capacities of processing enterprises for food production and the approach in which the development vector is aimed at motivating land users to use saving technologies with tools of the state support system within the green box of WTO norms. New approaches to establishing the interaction of food trade agents are substantiated, the essence of which is to change the architecture of the trade process, the introduction of production and logistics centers in the product chains. This will allow commodity producers, bypassing trade networks, to increase the amount of conditioned food that meets technological requirements; use the resources of transnational trade network structures in the interests of the region, develop the logistic potential, obtain a synergistic effect The book addresses the complex problem of forming the infrastructure of domestic food aid to the population in the region: resource supply of food; restoration of fertility of degraded lands for the production of environmentally friendly food; state support of economic entities in the sphere of production and processing within the framework of the green box of WTO norms. It is proposed to introduce production and logistics centers into the composition of product chains; alternative forms of trade in food; form payment systems for targeted assistance to the population; use the resource of trade network structures in the development of the region's logistics potential. The publication is designed for employees of government and municipal government, infrastructure links of the food security system, social protection of the population Keywords. food security for the needy population, a socially-oriented economy, an infrastructure for food aid to the population, organic farming, pilot projects,a "green WTO basket». |
| Keywords: | food security for the needy population, a socially-oriented economy, an infrastructure for food aid to the population, organic farming, pilot projects,a "green WTO basket». |
| JEL: | I3 I31 I38 M3 Q1 Q15 Q2 Q5 |
| Date: | 2017–04 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:81808&r=cis |
| By: | Широв Александр Александрович (Институт народнохозяйственного прогнозирования) |
| Date: | 2017–10–05 |
| URL: | http://d.repec.org/n?u=RePEc:scn:mxreqp:7082017&r=cis |
| By: | Широв Александр Александрович (Институт народнохозяйственного прогнозирования) |
| Date: | 2017–10–05 |
| URL: | http://d.repec.org/n?u=RePEc:scn:mxreqp:230820171&r=cis |
| By: | David Szakonyi (George Washington University and ICSID) |
| Abstract: | Do businesspeople that win elected office use their positions to help their firms? Busi- nessperson politicians are common worldwide, but little is known about the consequences of their entrance into politics. Using an original dataset of 2,706 firms in Russia, I employ a regression discontinuity design to identify the causal effect of firm directors winning seats in subnational legislatures in 2004-2013. I show that having a connection to a winning candidate increases a firm’s revenue by 60% and profit margin by 15% over their term in office. I then test between different mechanisms, finding that connected firms improve their performance by gaining access to bureaucrats, and not by signaling legitimacy to financiers. The value of win- ning a seat increases in more politically competitive regions, but falls markedly when more businesspeople win office in a convocation. Politically connected firms extract fewer benefits when faced with greater competition from other rent-seekers. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:gwi:wpaper:2017-20&r=cis |