|
on Confederation of Independent States |
|
Issue of 2017‒10‒22
ten papers chosen by |
| By: | Mishra, SK |
| Abstract: | This study is concerned with a great socio-economic experiment in history that replaced the naturally evolved market economy with the humanly designed command economy to achieve a socialist triumph over capitalism, experienced a setback and ultimately returned to the market economy for managing the material aspects of the society. Efforts to open the subject economies in the aftermath of the said experiment are on the contemporary agenda worldwide. Yet, the past pulls the present causing hysteresis that thwarts the momentum of globalization. Using KOF and AEMC indices of globalization (based on KOF data 1991-2014), the paper concludes that most of the countries to the south of Russian Federation (Armenia, Azerbaijan, Tajikistan, Kyrgyzstan, Kazakhstan) have performed rather poorly in globalization efforts. On the other hand, the countries in the north-western side of the Russian Federation (except Moldova) have on the whole performed better. In comparison, China has performed fairly while India lags behind. In spite of all proclamations, unless the political will to globalization is there, globalization cannot progress much further. However, such a political will has not been strong in India. India has remained protectionist of vested interests of politicians, industrialists, business houses and perhaps the intelligentsia, a coalition of the dominant proprietary classes that benefit from the status quo or stagnancy of the Indian economy and society. Globalization in India is under a strong spell of hysteresis on account of the pre-1991 pseudo-socialistic nostalgia as well as age-old internal contradictions. |
| Keywords: | Globalization, KOF index, equi-marginal, Shapley value, China, India, Eastern Bloc countries |
| JEL: | C43 C61 C71 P52 |
| Date: | 2017–10–14 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:81962&r=cis |
| By: | Vinokurov, Evgeny; Korshunov, Dmitry; Pereboev, Vladimir; Tsukarev, Taras |
| Abstract: | The monograph serves as a full-fledged introduction to the Eurasian Economic Union (EAEU) — its institutions, legal foundation, evolution, and, above all, economic integration issues. The authors focus on the common markets for goods, services, capital, and labour, as well as the EAEU foreign economic policies. They strive to provide a balanced analysis using a variety of approaches. In 300 pages of text, augmented by 50 tables and figures, the authors not only present a plethora of facts on economics and politics of the Union, but also attempt to explain why Eurasian integration processes are evolving in this particular way. Furthermore, they indicate the tasks and problems that the Union may have to deal with over the next 10 years. |
| Keywords: | Eurasian Economic Union, common markets, history of Eurasian integration, regional integration, non-tariff barriers, free trade area, foreign direct investments, trade, labour, China, European Union, post-Soviet states |
| JEL: | E44 E52 F15 F21 F36 F53 J61 O11 O15 |
| Date: | 2017–10–17 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:82051&r=cis |
| By: | Konstantin A. Kholodilin (National Research University Higher School of Economics) |
| Abstract: | This paper analyzes the governmental regulation of the rental housing market in the states that arose on the ruins of the Russian Empire during the Russian Civil war in 19181922. It examines and compares three major tools of the housing policy of those times: rent control, protection of tenants from eviction, and housing rationing. It shows evolution and continuity of the housing legislation of the non-Bolshevik governments and its relationship with the housing policies of Bolsheviks. |
| Keywords: | Russia; Russian Civil war; non-bolshevik governments; rental housing; housing policy. |
| JEL: | N44 O18 R38 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:151/hum/2017&r=cis |
| By: | Roud Vitaliy (National Research University Higher School of Economics); Valeriya Vlasova (National Research University Higher School of Economics) |
| Abstract: | This paper develops an integrated framework to examine the determinants of industry-science cooperation in the general process of developing innovation. Based on the literature review and using firm-level data on innovation strategies of 805 manufacturing enterprises in Russia we investigate what are the incentives to firms (1) to cooperate with universities and R&D organizations and (2) to choose a particular mode of interaction that ranges from purchasing S&T services to a full scale original R&D aimed at creating new-to-market innovation. We suggest that a broad range of intramural and external determinants, including competition regime, absorptive capacity, technological opportunities, appropriability conditions, public support, as well as barriers to the practical application of R&D results influence the firm’s decision on cooperation with knowledge producers. The findings indicate that the scale of industry-science linkages in Russian manufacturing is limited and generally hampered by low propensity of business to the R&D-based innovation strategies |
| Keywords: | Science-industry cooperation; Innovation strategy; Firm-level; Manufacturing; Russia |
| JEL: | D22 D83 L2 O31 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:75sti2017&r=cis |
| By: | Ivan A. Karpenkî (National Research University Higher School of Economics) |
| Abstract: | The cyclical indicators approach has been used for decades but the last recession has once more rekindled an interest for them throughout the world. Several new techniques and indicators were introduced in recent years but the actual quality of these ‘newcomers‘ was not well established. During the last recession, performance of such ‘veterans’ as indexes by The Conference Board, ECRI, ISM, PhilFed, OECD, etc. has also not been checked in a comprehensive and comparable manner. Another problem with cyclical indicators is that their usage in real time has not yet been fully clarified. Contemporary global economic life is measured in days and hours, but most common economic indicators have inevitable lags of months and sometimes quarters (GDP). Is it possible for a leading indicator (which is monthly in most cases) to be timely? Moreover, the real-time picture of economic dynamics may differ in some sense from the same picture in its historical perspective, because all fluctuations receive their proper weights only in the context of the whole. Therefore, it’s important to understand whether the existing indicators are really capable of providing important information for decision-makers. In other words, could they be useful in real-time? What does the experience of the last recession tell us in this regard? This paper answers these questions for the USA as well as for Russia. |
| Keywords: | philosophy of science, physical theory, physical law, eternal inflation, dark energy, anthropic principle |
| JEL: | Z19 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:154/hum/2017&r=cis |
| By: | Asali, Muhammad (ISET, Tbilisi State University); Pignatti, Norberto (ISET, Tbilisi State University); Skhirtladze, Sophiko (ISET, Tbilisi State University) |
| Abstract: | We provide the first experimental evidence about ethnic discrimination in the labor market in Georgia. We randomly assign Georgian and non-Georgian, male and female, names to similar resumes and apply for jobs as advertised in help-wanted web sites in Georgia. We find that gender has no effect on the probability of callback, but a job applicant who is ethnic Georgian is twice more likely to be called for a job interview than an equally skilled ethnic non-Georgian (Azeri or Armenian). The almost 100% gap in callbacks is statistically significant and cannot be abridged by having more experience or education. Both taste-based discrimination and statistical discrimination models are consistent with the evidence provided in this study. Labor market discrimination tends to aggravate in economic busts. |
| Keywords: | employment discrimination, field experiment, former Soviet Union, business cycles |
| JEL: | J15 J71 C93 P23 |
| Date: | 2017–09 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp11056&r=cis |
| By: | Natalia Shmatko (National Research University Higher School of Economics); Alina Lavrynenko (National Research University Higher School of Economics); Dirk Meissner (National Research University Higher School of Economics) |
| Abstract: | The paper explores the composition of researchers' skillsets in an innovation-driven environment from the perspective of employers. The authors analyze the relation between skills requirements described in job advertisements for researchers and the presumed innovation culture of companies. The study is based on job advertisements content analysis and in-depth interviews with chiefs of research and development companies. It uses biotechnology industry as an example as it is one of the fastest-growing and innovation-driven sectors globally. Authors used data from Russian, as well as Canadian, UK and USA job search engines to consider international context. Empirical findings demonstrated that skills composition stress on hard skills more frequently and detailed, while soft skills are often a "must have without saying". The same is for digital skills that are assumed to be essential in high-tech companies globally and therefore not fully specified in job ads. There is a certain mismatch between skills presented in the ads and articulated in the interviews as employers tend to demonstrate innovation-friendly company culture for possible applicants. The present paper enriches literature on skills assessment, giving comprehensive lists of biotech skills in-demand divided into soft and hard categories. In addition, it provides the new insight into employee skills articulated by the companies as a strong element of organizational innovation climate |
| Keywords: | knowledge economy, open innovation, company innovation culture, biotechnology, skills |
| JEL: | J24 L65 M14 M51 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:74sti2017&r=cis |
| By: | Sheung-Chi Chow (Research Institute of Business, Hang Seng Management College); Rangan Gupta (University of Pretoria, Pretoria, South Africa); Tahir Suleman (School of Economics and Finance, Victoria University of Wellington and School of Business, Wellington Institute of Technology); Wing-Keung Wong (Department of Finance, Asia University and Department of Economics, Lingnan University) |
| Abstract: | This study bridges the gap in the literature to examine co-movement and predictability of Bond Spread of BRICS and PIIGS with respect to political risk (PR), financial risk (FR), and economic risk (ER). Our cointegration results conclude that there is strong long run co-movement between the various risks and bond spread for both BRICS and PIIGS. However, both linear and nonlinear Granger causality tests show that not all risks strongly predict bond spread for both BRICS and PIIGS. Our linear Granger causality findings imply that PR is the most important risk in predicting bond spread, followed by ER in both BRICS and in PIIGS, while FR is only weakly useful in predicting bond spread in BRICS but not in PIIGS. Our nonlinear individual causality results infer that ER is the most important risk in predicting bond spread, followed by FR, and PR. In this paper, we make a conjecture that linear and nonlinear causality are independent and our findings support this, and thus, we recommend academics and practitioners conduct both linear and nonlinear causality analysis in their work. The outcomes of this paper are useful for portfolio managers, investors in fixed income market and government agencies. |
| Keywords: | Country Risk, Bond Spread, Linear and Nonlinear Granger Causality |
| JEL: | C33 C58 G10 G24 |
| Date: | 2017–10 |
| URL: | http://d.repec.org/n?u=RePEc:pre:wpaper:201773&r=cis |
| By: | Andrew J. Hussey; Michael Jetter; Dianne McWilliam |
| Abstract: | Within the fundamental determinants of cross-country income inequality, ‘humanly devised’ political institutions represent a hallmark factor that societies can influence, as opposed to, for example, geography. Focusing on the portion of inequality explainable by differences in political institutions, we decompose annual cross-country Gini coefficients for 95 countries (representing 85 percent of the world population) from 1960-2012. Since 1988, inequality has marginally decreased (from a Gini of 0.525 to 0.521) but the portion that cannot be explained by political institutions has increased substantially (from 0.411 to 0.459). Specifically, the explanatory power of institutions fell rapidly from the late 1980s to the early 1990s. This result prevails when using alternative variables, expanding the sample, weighting countries by population size, and controlling for the remaining fundamental determinants of income: culture and education. Over the same timeframe, the explanatory power of geographical conditions has been rising. This phenomenon appears to be global and is unlikely to be driven by contemporary regional events alone, such as the fall of the Soviet Union, Asian success stories (e.g., China), or institutional monocropping in Africa. A corollary of our finding implies that, if we hold societies responsible for their political institutions, inequality has become notably less fair since the late 1980s. |
| Keywords: | fairness of income inequality, fundamental determinants of development, international inequality, political institutions |
| JEL: | D63 D72 E02 O11 O43 O47 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_6320&r=cis |
| By: | Maya Lavrinovich (National Research University Higher School of Economics) |
| Abstract: | This paper examines the early stages of career of Aleksei Fedorovich Malinovskii, since 1814 Head of the Moscow Archive of the State College of Foreign Affairs. The Archive's records and diverse correspondence from the 1780s – early 1800s reveal his connections to the aristocrats – Vorontsov and Sheremetev – and to some of the highest officials of the Empire (vice-chancellor Ivan Osterman) who willingly patronized this son of a Moscow priest and later a petty official in the Archive. The career stretegies he pursued in the field of the patronage went parallel to and were no less important than those he pursued in the formal hierarchies. He sought to obtain noble status in order to acquire estates and serfs. To gain a symbolic foothold in the elite and to become its full member, he married one Islen'eva, a niece of the Vorontsovs, who became a rich heiress in 1810. Later he gave his daughter in marriage to Prince Dolgorukov, a remote relative of the Sheremetevs, thus linking himself up with both clans of his protectors. Malinovskii's relationships with his patrons were based on mutual services and benefit which are discussed in the article |
| Keywords: | Russia, 18th century, career, patronage, clientelism, patron-client relationships, Moscow Archive of the State College of Foreign Affairs, ennoblement, service, Aleksei Malinovskii |
| JEL: | Z |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:152/hum/2017&r=cis |