nep-cis New Economics Papers
on Confederation of Independent States
Issue of 2018‒03‒12
four papers chosen by

  1. 2017 Global food policy report: Synopsis [in Russian] By International Food Policy Research Institute (IFPRI)
  2. Russian Real Wages Before and After 1917: in Global Perspective By Robert C. Allen; Ekaterina Khaustova
  3. Financial vs. Policy Uncertainty in Emerging Market Economies By Sangyup Choi; Myungkyu Shim
  4. Managing energy supply security and gas diversification in Hungary - putting theory into practice By Csaba Weiner

  1. By: International Food Policy Research Institute (IFPRI)
    Abstract: 2016 год ознаменовался важными признаками прогресса на пути к достижению продовольственной безопасности и улучшению питания, а также подтверждением приверженности принципам устойчивого развития. Однако новые сложности, возникающие вследствие стремительных изменений в политической, экономической и демографической сферах, безусловно, станут испытанием для достигнутого импульса международного сотрудничества в реализации новой повестки дня в области устойчивого развития. Наряду с быстрой урбанизацией, происходящей во всем мире, проблемы нищеты, отсутствия продовольственной безопасности и неполноценного питания все в большей степени становятся проблемами городов. Этот стремительный сдвиг приводит к изменению режимов питания и перестраивает продовольственные производственно-сбытовые цепочки на всем их протяжении – от мелких фермерских хозяйств до современных супермаркетов. В дальнейшем политические меры и инвестиции, направленные на искоренение голода и неполноценного питания, должны учитывать потребности малоимущих слоев городского населения, а также формировать прочные взаимосвязи между сельскими производителями продовольствия и городскими рынками, что позволит поддержать как городское, так и сельское население.
    Keywords: food policies; agricultural policies; food security; agricultural development; poverty; poverty alleviation; economic development; urbanization; trade; markets; value chains; nutrition; malnutrition; hunger; food systems; urban areas,
    Date: 2017
  2. By: Robert C. Allen; Ekaterina Khaustova (Division of Social Science)
    Date: 2017–05
  3. By: Sangyup Choi (Yonsei University); Myungkyu Shim (Sogang University)
    Abstract: While the negative effect of uncertainty shocks on the economy is well-known, little is known about the extent to which these e ects di er across the measures of uncertainty, especially in emerging market economies. Using the newly available economic policy uncertainty index from six emerging market economies (Brazil, Chile, China, India, Korea, and Russia), we compare the impact of financial uncertainty shocks|measured by stock market volatility|and that of policy uncertainty shocks on the economy. We find that nancial uncertainty shocks have much larger and more significant impact on output than policy uncertainty shocks, except for China where the government has direct controls over financial markets. While our finding differs from the previous finding that policy uncertainty has no smaller effects on economic activity than nancial uncertainty in advanced economies, it is consistent with the recent emphasis on nancial frictions as a propagation mechanism of uncertainty shocks.
    Keywords: Financial uncertainty, Policy uncertainty, Emerging market economies, Financial frictions, Vector Autoregressions, Local projections
    JEL: E20 E32
    Date: 2018–03
  4. By: Csaba Weiner (Institute of World Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences)
    Abstract: For a long time, gas has been the fuel that Hungary is particularly sensitive to in terms of security of energy supply; thus, gas diversification has become a key issue. However, along with the 2014 decision on the construction of new units at the Paks Nuclear Power Plant (Paks-2), the energy agenda has changed considerably. Paks-2 will have a decisive role in ensuring security of supply, and, in fact, it has already begun to perform a role in energy decisions. This paper aims to assess, on the one hand, the security of the stationary fuel supply in Hungary by applying the conventional three-dimensional approach, encompassing availability, affordability and sustainability, and, on the other, use our own gas diversification scheme to analyse the issue of gas diversification. We find that considerable progress has been made on gas diversification, and Paks-2 can also be included in our diversification scheme as a kind of sectoral diversification option. Prior to the Paks-2 decision, Hungary had followed an upward trajectory for its security of supply, despite certain negative developments. With Paks-2, Hungary’s dependence will both decrease and increase – as new types of risks emerge. There is great uncertainty about Hungary’s energy policies and security of supply, with the role of coal, gas and renewables in the energy/electricity mix still not settled. Their future is expected to be heavily dependent on political decisions rather than energy market factors, though energy market uncertainties are also high.
    Keywords: Hungary, Russia, energy security, security of supply, gas diversification, coal, gas, nuclear energy, renewables
    JEL: L71 L95 O13 P28 Q4
    Date: 2017–12

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