nep-cis New Economics Papers
on Confederation of Independent States
Issue of 2018‒04‒09
six papers chosen by

  1. Revisiting Sanctions on Russia and Counter-Sanctions on the EU: The economic impact three years later By Gros, Daniel; Di Salvo, Mattia
  2. Russian energy companies and the Central and Eastern European energy sector By Sylvain Rossiaud; Catherine Locatelli
  3. Are BRICS Exchange Rates Chaotic? By Vasilios Plakandaras; Rangan Gupta; Luis A. Gil-Alana; Mark E. Wohar
  4. Why Dismiss a Good Case? Dual-Purpose Judicial Institutions In Constitutional Courts Under Autocracy: Evidence from Russia By Ivan Grigoriev
  5. Ecosystem of entrepreneurship: risks related to loss of trust in stability of economic environment in Kazakhstan By Elena Petrenko; Nurlan Iskakov; Oleg Metsyk; Tatyana Khassanova
  6. Predanie, Legenda, Skazanie: Three Generic Labels in Vladimir Odoevsky’s Works By Natalia A. Tuliakova

  1. By: Gros, Daniel; Di Salvo, Mattia
    Abstract: On June 28th, the European Council took a decision to prolong the economic sanctions imposed on Russia until 31 January 2018. These sanctions: 1) limit access to EU capital markets for major Russian state-owned financial institutions and energy and defence companies, 2) ban both the export and import of arms, 3) ban the export of dual-use goods for military use to Russia and 4) curtail Russia’s access to certain sensitive technologies and services that can be used for oil production and exploration.
    Date: 2017–07
  2. By: Sylvain Rossiaud (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); 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: This contribution sets out to clarify the determinants and modalities by which Russian companies played a part in structuring the energy complex of central and eastern European countries. In so doing we seek to supplement state-centred analysis of realist inspiration. The Soviet legacy explains both the incentive for Russian companies to develop operations in downstream oil and gas in these countries and why, given the vulnerability of national energy systems, target countries tend to see such developments as a threat to their security. In this respect the mid-2000s may be seen as a turning point, with the downstream growth strategies of Russian energy suppliers increasingly called into question.
    Keywords: energy company,Russia
    Date: 2018
  3. By: Vasilios Plakandaras (Department of Economics, Democritus University of Thrace, Komotini, Greece); Rangan Gupta (Department of Economics, University of Pretoria, Pretoria, South Africa); Luis A. Gil-Alana (Department of Economics, University of Navarra, Spain); Mark E. Wohar (College of Business Administration, University of Nebraska at Omaha USA, and School of Business and Economics, Loughborough University, UK.)
    Abstract: In this paper, we focus on the stochastic (chaotic) attributes of the US dollar-based exchange rates for Brazil, Russia, India, China and South Africa (BRICS) using a long-run monthly dataset covering 1812M01-2017M12, 1814M01-2017M12, 1822M07-2017M12, 1948M08-2017M12, and 1844M01-2017M12, respectively. For our purpose, we consider the Lyapunov exponents, robust to nonlinear and stochastic systems, in both full—samples and in rolling windows. For comparative purposes, we also evaluate a long-run dataset of a developed currency market, namely British pound over the period of 1791M01-2017M12. Our empirical findings detect chaotic behavior only episodically for all countries before the dissolution of the Bretton Woods system, with the exception of the Russian ruble. Overall, our findings suggest that the establishment of the free floating exchange rate system have altered the path of exchange rates removing chaotic dynamics from the phenomenon, and hence, the need for policymakers to intervene in the currency markets for the most important emerging market bloc, should be carefully examined.
    Keywords: Exchange rate, chaos, Lyapunov exponent
    JEL: C46 E52
    Date: 2018–03
  4. By: Ivan Grigoriev (National Research University Higher School of Economics)
    Abstract: The Russian Constitutional Court (RCC) has over time developed a practice of adopting so-called “positive dismissals” (Pozitivnoe Opredelenie) which complements (but also undermines) the existent formal procedure of only delivering decisions on merits with Rulings (Postanovlenie). The paper explores the uses of this peculiar practice. I show that Positive Dismissals are used by the Court to overcome the rigidity of the formal procedure where this is necessary for reasons of intraorganizational or political expediency. To do that I construct and analyze quantitatively a unique comprehensive dataset of all decisions handed down by the RCC roughly in the first two decades of its existence (1995-2015, N=22334). I show that “positive dismissals” are used whenever the case is deemed too important to be simply dismissed (for example, if it is submitted by a powerful petitioner), or when the Court cannot dismiss a case but wants to keep low profile to avoid political risks (for example, with the politically salient cases during election years).
    Keywords: Russian Constitutional Court; authoritarianism; constitutional review.
    JEL: K41 D73
    Date: 2018
  5. By: Elena Petrenko (SUSU - South Ural State University); Nurlan Iskakov (Almaty Management University); Oleg Metsyk (Institute of Economics, The Ural Branch of Russian Academy of Sciences); Tatyana Khassanova (SUSU - South Ural State University)
    Abstract: Favorable ecosystem of entrepreneurship plays crucial role for successful development of small and medium enterprises (SMEs) and their sustainability. One of preconditioms of encouraging business environment is its' stability, and trust in long-term stability. Meanwhile the global economic crisis has created a state of economic and political instability, what consequently affected trust of business entities, and therefore contributed to increase of social and economic risks. The article discusses the decline of trust in the entrepreneurship of Kazakhstan, examines the causes and consequences of loss of confidence as an important institutional resource.
    Keywords: state,corruption,SMEs,entrepreneurship ecosystem,trust,business risks,economics,Kazakhstan
    Date: 2017–09–29
  6. By: Natalia A. Tuliakova (National Research University Higher School of Economics)
    Abstract: In the early 19th century the words predanie, legenda, and skazanie started to be used by Russian writers as a generic label. The present paper considers the texts with these labels in their titles or subtitles written by Vladimir Odoevsky. First, constituent features of the corpus of the texts labeled as predanie are identified. Then the same categories are explored in the texts marked as legenda and skazanie. The aim of the research is to ascertain whether these texts are built according to similar or different generic patterns. I argue that Odoevsky treated the notions differently, and the generically labelled texts reveal different genre strategies.
    Keywords: V. Odoevsky; Russian literature; genre; generic label; legend; tradition; tale
    JEL: Z
    Date: 2018

General information on the NEP project can be found at For comments please write to the director of NEP, Marco Novarese at <>. Put “NEP” in the subject, otherwise your mail may be rejected.
NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.