nep-cis New Economics Papers
on Confederation of Independent States
Issue of 2018‒01‒22
six papers chosen by

  1. Management of systems engineering and technical assistance of DARPA research programs By Ilya Klabukov; Andrey Yakovets; Maksim Alekhin
  2. Investment Climate in the EAEU and Korea's Entry Strategy By Lee , Jae-Young; Lee , Cheol-Won; Min , Jiyoung
  3. Gazprom and the complexity of the EU gas market: a strategy to define By Sadek Boussena; Catherine Locatelli
  4. Why Is the ‘Post-Soviet’ Regionalism Post-Soviet? Historical Legacies and Regional Integration in Eurasia By Libman, Alexander; Obydenkova, Anastassia
  5. Georgia; First Review under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; and Staff Report By International Monetary Fund
  6. Capital Structure and Oligarch Ownership By Chernenko, Demid

  1. By: Ilya Klabukov (Sechenov First Moscow State Medical University); Andrey Yakovets (MIPT - Moscow Institute of Physics and Technology [Moscow]); Maksim Alekhin (Bauman Moscow State Technical University)
    Abstract: Currently a vast number of scientific publications in Russia and abroad are devoted to the phenomenon of Defense Advanced Research Projects Agency (DARPA). Success factors of the Agency are usually identified as: a recruitment policy of research managers, scientific resources of the Agency’s contractors, unique super-system of the DARPA's external environment and significant costs of R&D initiatives spent by the US Department of Defense. At the same time, systems engineering and technical assistance (SETA) contracting in the implementation of DARPA's high-risk projects have been neglected as a rule by the time. This paper describes the role of SETA-support contractors in ensuring the success of DARPA's ambitious projects and the impact of government contracts technical support on perspective defense R&D programs. The SETA rate in total R&D expenditures of DARPA are evaluated as 7,4-9,9%. Finally, the possibility of implementation of best practices and experiences of SETA system utilization for technological support of perspective high-risk R&D programs for governmental Russian agencies is analyzed.
    Abstract: В настоящее время исследованию феномена Агентства передовых оборонных научно-исследовательских проектов США (DARPA) посвящено обширное количество научных публикаций, как в России, так и за рубежом. Среди факторов успеха агентства выделяют правила найма менеджеров исследовательских программ, научный потенциал подрядчиков, уникальную суперсистему внешнего окружения, а также значительные затраты на НИОКР со стороны Минобороны США. При этом аспекты участия организаций «системного проектирования и технической поддержки» (SETA) в реализации сложных высокорисковых научно-исследовательских и опытно-конструкторских работ (НИОКР), как правило, остаются без внимания. В настоящей работе на основе опыта США рассматриваются вопросы технического сопровождения государственных контрактов на НИОКР в интересах обороны страны, раскрывается роль SETA-подрядчиков в обеспечении успеха научно-технических проектов DARPA. Проведена оценка доли расходов на техническое сопровождение в общих расходах на НИОКР агентства (7,4-9,9%). Дается оценка возможности использования опыта DARPA по системному проектированию и технической поддержке при сопровождении НИОКР в рамках федеральных целевых программ в России.
    Keywords: defense research,DARPA,federal contract system,systems engineering and technical assistance,SETA support,системное проектирование и техническая поддержка,сопровождение государственных контрактов,оборонные исследования,ДАРПА,Федеральная контрактная система
    Date: 2017–06–30
  2. By: Lee , Jae-Young (Korea Institute for International Economic Policy); Lee , Cheol-Won (Korea Institute for International Economic Policy); Min , Jiyoung (Korea Institute for International Economic Policy)
    Abstract: This study proposes to lay the foundation for economic cooperation and expand industrial cooperation. The following four measures are the keys to create an institutional base for economic cooperation. First, it will be critical to conclude a Korea-EAEU FTA. Such an FTA would provide a new concept for strategic cooperation in the so-called "Eurasian value-chain system," as well as in the new Eurasian growth space. It will be a window of opportunity for the Eurasian region to establish significant links with Korea, and to bring the APEC region closer to Russia. Second, utilizing the Korea-Russia investment platform when entering the EAEU market is an important element. The Korea-Russia investment platform created in 2013 has not been utilized at all up to now. Through discussion with Russia, it will be necessary to adjust the investment destinations, industries, methods, and scope of cooperation to employ the platform. In this way, the platform can be expanded and become more useful and effective. Third, designing investment package support programs for SMEs is another significant measure. Overseas investment by SMEs will be important in building a foundation for cooperation with the EAEU when considering the economic complementarity of the two sides. Such collaboration is possible due to the EAEU’s demand for modernization in its manufacturing sector. Job creation and competitiveness improvement could be realized through the sophistication and internationalization of Korean SMEs. Fourth, it will be necessary to establish a "graduate school for Eurasian policy." When the agenda of strengthening cooperation with Russia and the northern countries is incorporated into Korea's mid- and long-term international strategy, it will become an urgent task to build a human resources nurturing system. Thus the founding of such a graduate school should be seriously considered. Given Russia's growing political and economic presence in the international community, it is necessary to train elite talent to deal with issues regarding the EAEU. In order to lay the institutional foundation, a close cooperation between the two sides is significant, perhaps by reorganizing or newly launching channels under the governments. Also necessary will be an organization that is mainly dedicated to Eurasian issues. Most importantly, embarking on negotiations for a Korea-EAEU FTA should come first to promote investment between Korea and the EAEU. Members of the EAEU think that the Korea–EAEU FTA has to extend beyond the scope of conventional FTAs. Bilateral industrial cooperation stimulated by Korea's investment must be included and enhanced. To enable Korea-EAEU FTA negotiations to commence, an "investment promotion committee" should be formed and the needs of EAEU member states must be discussed. At the same time, it will be necessary to establish a "northern cooperation fund" which supports SMEs to enter the EAEU market under the Ministry of Strategy and Finance. The positive effects that a Korea-EAEU FTA would have on investment should be communicated through a number of regular investment forums. Constructing industrial zones and discovering the investment promising sectors in the EAEU will have to take place as well. In particular, industrial complexes jointly planned by the two sides will help Korean enterprises to enter the EAEU market. For this, additional studies on the conditions of possible industrial zones and specialized industries should be carried out. Investment promising sectors have to be detected through an analysis of industrial competitiveness, policies and investment climate.
    Keywords: EAEU; Investment Climate; Economic Cooperation
    Date: 2018–01–08
  3. By: Sadek Boussena (LEPII - Laboratoire d'Economie de la Production et de l'Intégration Internationale - UPMF - Université Pierre Mendès France - Grenoble 2 - CNRS - Centre National de la Recherche Scientifique); Catherine Locatelli (GAEL - Laboratoire d'Economie Appliquée de Grenoble - Grenoble INP - Institut polytechnique de Grenoble - Grenoble Institute of Technology - INRA - Institut National de la Recherche Agronomique - CNRS - Centre National de la Recherche Scientifique - UGA - Université Grenoble Alpes)
    Abstract: Confronted with an increasingly competitive market in the European Union and the credible threat of a new entrant in the form of liquefied natural gas imports from the United States, Gazprom’s traditional export strategy is open to question. The company must decide whether it should launch a price war in order passively to adapt to impending competition and its role as a ‘residual supplier’ to the EU gas market, or whether it should take advantage of the current price uncertainty. This article explores the scope for long-term strategic action by Gazprom other than simply engaging in a price war. It is argued that Gazprom could forge a position as a key player in the EU gas market capable of playing the same role as Saudi Arabia does in the global oil market.
    Keywords: Gas, LNG, competition, EU, Russia, Gazprom
    Date: 2017–10–17
  4. By: Libman, Alexander; Obydenkova, Anastassia
    Abstract: The goal of the paper is to systematically review the variety of arguments describing how the Soviet past influences the development of the Eurasian regionalism. While many references to the ‘post-Soviet’ regionalism imply that history should matter substantially for its evolution, to our knowledge, the arguments about particular effects of the historical legacies are scattered throughout the literature and rarely compared with each other. We argue that the historical legacies can matter for the Eurasian regionalism in two instances: by affecting the environment for the development of regional organizations and through the path-dependent evolution of organizations themselves. The paper concludes that the development of the Eurasian regionalism should indeed differ from that observed in many other parts of the world because of the Soviet legacies.
    Keywords: Eurasian regionalism, historical legacies, historical institutionalism
    JEL: F15
    Date: 2017
  5. By: International Monetary Fund
    Abstract: Recent economic developments. Economic activity has strengthened on the back of stronger growth in main trading partners. Fiscal overperformance and efforts to address structural weaknesses have helped boost confidence. Program status. The 36-month Extended Fund Facility (EFF) approved on April 12 2017, with access of SDR 210.4 million (100 percent of quota), is on track. All end-June 2017 performance criteria (PCs) were met, some with significant margins. All structural benchmarks were also met. Completion of the review will make available the amount of SDR 30 million.
    Date: 2017–12–07
  6. By: Chernenko, Demid
    Abstract: This study examines the effects of oligarch ownership on corporate capital structures. Using panel data from Ukraine, I find that oligarch-owned companies employ significantly more debt and liabilities than their peers. However, there is no direct relation between oligarch ownership and target capital structure. Whereas the determinants of target leverage are similar across all owners, differences in firm characteristics also have a fairly small effect. I show that larger leverage is due to better access to debt, which results in lower rebalancing costs and faster restructurings of oligarch-owned companies. The findings clearly suggest that oligarchs benefit from the accumulated advantages.
    Keywords: Capital Structure; Leverage; Oligarchs; Influential Ownership; Connected Firms; Cumulative Advantage
    JEL: G32 P31
    Date: 2018

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