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on Confederation of Independent States |
| By: | Abrell, Jan (University of Basel); Chavaz, Léo (University of Basel); Weigt, Hannes (University of Basel) |
| Abstract: | Natural gas plays an important role in many European energy systems especially with regard to the envisioned transition towards a less carbon intensive energy supply. Being dependent on imports - especially from Russia - this raises questions about the future development and security of Europe's gas supply. Using a numerical network model of the European gas system we assess 1) the potential impact of infrastructure extensions for Europe's gas supply and 2) the role of supply security policies in coping with a disruption of Russian imports via the Ukraine. Our results indicate that overall the European gas infrastructure is sufficient for average market conditions. Due to the strong dependency on Russian imports, however, disruptions during the winter months could lead to load curtailment. Projected network extension (Southern Gas Corridor, Nord Stream 2, and new LNG terminals) or a strategic storage policy coordinated across Europe has the potential to reduce this shortage. The positive impact of an extended network, however, also depends on the capability of the global gas market to provide flexible gas that can be reallocated towards Europe. The majority of demand curtailment can already by countered by a relatively modest amount of strategic storage (20% to 30%) if their use during crisis situations is coordination across European countries. |
| Keywords: | Europe, natural gas, North Stream, network model, storage, supply security |
| Date: | 2019–07 |
| URL: | http://d.repec.org/n?u=RePEc:bsl:wpaper:2019/11&r=all |
| By: | Fokin, Nikita; Polbin, Andrey |
| Abstract: | This paper estimates a bivariate econometric model to describe Russia’s real GDP while taking account of the Russian economy’s high dependence on oil prices, monetary policy regime change, and economic growth slowdown. We follow the theory of long-run neutrality of monetary policy and assume that the Bank of Russia’s monetary policy regime change in late 2014 has influenced only the short-run relationship between Russia’s GDP and oil prices, but long-run multiplier is invariant to monetary policy. The paper also attempts to take account of the economic growth slowdown in last decade. The model has demonstrated good forecasting performance. |
| Keywords: | monetary policy, Russian economy, terms of trade, ARX model, ECM model, structural breaks |
| JEL: | E32 E37 E52 |
| Date: | 2019–04 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:95306&r=all |
| By: | Shirokova, G.; Karpinskaia, E. |
| Abstract: | This study attempts to reveal the role of exploration and exploitation employment and balancing both during new venture creation process. Using longitudinal multiple case-study strategy, it tracks a vivid flow of start-up decisions and actions in-depth and over time through the series of rich interviews with founders of ten Russian high-tech start-ups and combines gained process data with the analysis start-up dynamics. As a result, a theoretical model of the relationship between exploration-exploitation and firm performance at key initial stages of development is created. This model contributes to the clarification of organizational adaptation concepts through the venture creation logics and entrepreneurial leadership processes. |
| Keywords: | organizational adaptation, exploration, exploitation, start-up development, performance, |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:sps:wpaper:16124&r=all |
| By: | Panibratov, A; Sato |
| Abstract: | The paper offers empirical tests and is engaged with the extension of the integration-responsiveness (I-R) framework given the injection of Cultural distance. The study identifies how Cultural distance affects Global integration and Local responsiveness in terms of the Internationalization strategy of Japanese MNCs in Russia by setting a special., emphasis on Japanese MNCs in Manufacturing, and Services/Retail in Russia based on case study research with surveys. The study on the linkage of Cultural distance and I-R framework with the typology is still lacking. The contexts of Japanese MNCs and the Russian market have been ignored in the existing research. We believe that outcomes of the research contribute to the extension of the I-R framework and that can be replicable to similar cases with the generalization of the uniqueness of Japanese MNCs in Russia. |
| Keywords: | cultural distance, global integration, internationalization strategy, Japan, local responsiveness, MNC, Russia, |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:sps:wpaper:16137&r=all |
| By: | Panibratov, A.; Rysakova, L. |
| Abstract: | In this paper we contribute in the literature on the role of international diaspora in the economic development. Although extant studies show a positive impact of diasporas for their countries of origin, little studies show the role of foreign diasporas for the recipient countries, especially at the firm-level. This paper focuses on the impact of Chinese diaspora on Russian firms with Chinese employees. We analyze the literature about legitimacy measurement and extract factors that influence this construct in order to provide a scale. Thereafter we expect to check whether and to which extent Chinese employees influences legitimacy of Russian firms. |
| Keywords: | diaspora, legitimacy, migrants, emerging markets, |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:sps:wpaper:16123&r=all |
| By: | Emiliia Dmytrenko (Finance Law Department Kyiv National Economic University named after Vadym Hetman); Yurii Pyvovar (Constitutional and Administrative Law Department National Aviation University); Danil Getmantsev (Department of Financial Law of Taras Shevchenko National University of Kyiv); Olena Hedziuk (Department of Financial Law of Taras Shevchenko National University of Kyiv); Nataliia Iakymchuk (Department of Financial Law of Taras Shevchenko National University of Kyiv); Liubov Kasianenko (Department of Financial Law University of the State Fiscal Service of Ukraine); Tamara Latkovska (Department of Constitutional, Administrative and Financial Law Chernivtsi Institute of Law National University “Odessa Law Academy”); Nataliia Kovalko (Department of Financial Law of Taras Shevchenko National University of Kyiv); Yevhen Marynchak (Department of Financial Law of Taras Shevchenko National University of Kyiv); Svitlana Nischymna (Economic Law Department of Administrative, Civil, Economic Law and Process Academy of State Penitentiary Service); Sergii Ochkurenko (Department of Financial Law of Taras Shevchenko National University of Kyiv); Olena Orliuk (Department of Intellectual Property of Taras Shevchenko National University of Kyiv); Nadiia Pryshva (Department of Financial Law of Taras Shevchenko National University of Kyiv); Lesia Savchenko (Research and Legal Issues Kyiv International University); Vladyslava Savenkova (Private Higher Educational Institution “Financial-Legal College”) |
| Abstract: | Monograph "Public finance: legal aspects" is a paper written by the team of leading Ukrainian scholars in the sphere of finance law and initiated by Financial Law Center and Department of Financial Law of Taras Shevchenko National University of Kyiv. All monograph's authors are representatives of Ukrainian financial law school which was founded by Lidiia Voronova. In memory of our Teacher, Financial Law Center was founded to study the problems of legal regulation of public finance, and this monograph was prepared. In the monograph, scholars presented their vision of solving the most topical problems at legal regulation of financial relationships. The concept of public financial activity is covered; the powers of bodies carrying out public financial activity in Ukraine are investigated; issues of the activities of local self-government bodies under the conditions of financial decentralization are considered; the concepts and features of public funds are determined; the content of public interest in tax law is presented, and the essence of the subject-matter of financial law is studied, etc. The monograph includes the following topics: Functions of financial law: theory and practice of the implementation (Emiliia Dmytrenko, Yurii Pyvovar); Modern world: a new approach to the legitimacy of public finance (Danil Getmantsev); Public interest and its realisation in tax law (Olena Hedziuk); Legal content of the concept "Public fund of means" (Nataliia Iakymchuk); Procedural norms in the financially-legal regulation (Liubov Kasianenko, Tamara Latkovska); Special aspects of legal status of state authorities that perform public financial activity (key challenges and the ways to address them) (Nataliia Kovalko); The financial nexus between an individual and a state (Yevhen Marynchak); General principles of financial law (Svitlana Nischymna); Basic theoretical problems of determining the place of financial law in the system of law (Sergii Ochkurenko); Target determination of financial and legal instrumentarium in the development of Ukrainian innovative policy (the issue of variable geometry) (Olena Orliuk); Finance and legal regulation of self-governing authorities activity under the conditions of decentralization (Nadiia Pryshva); Public and private financial control: limits of legal regulation (Lesia Savchenko); The emergence of central banks and finance-legal status of National Bank of Ukraine (Vladyslava Savenkova). The monograph will be useful to scholars, students and anyone who is interested in financial law issues. Recommended for publication by the Academic Council of Law Faculty of Taras Shevchenko National University of Kyiv |
| Keywords: | central banks,financial control,public financial activity,general principles,financial activity,financial relationships,financial nexus,financial law,modern world,public interest,public fund,legal regulation,legal status |
| Date: | 2019–04–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02188891&r=all |
| By: | Singh, A. |
| Abstract: | Ownership has long been a symbol of status in Russia but as the consumer behavior is getting changed in developed and developing countries due to digital transformation, Russia is not an exception anymore. There’s a paradigm shift in consumer behavior and collaborative consumption is leading this phenomenon. However, beyond some theoretical evidence, there is a dearth of understanding why people participate in collaborative consumption in Russia. Therefore, this research investigates the people’s motivation behind their participation in collaborative consumption. Apart from socio-technological factors, this research also explores the intricate interplay in between social and technological phenomenon behind the collaborative consumption. In this regard, this research addresses three research questions, which are, what is the interplay in social and technological context in collaborative consumption? What are the socio-technologic factors that have an impact on a particular individual participation towards collaborative consumption? How to balance managing social and technological context of collaborative consumption? This is a conceptual paper which explains the social and technological factors that underlies the peoples’ motivation behind their participation towards collaborative consumption. |
| Keywords: | collaborative consumption, socio-technological factors, sharing economy, cconsumer behavior, social, social media, technology, emerging market, Russia, |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:sps:wpaper:16125&r=all |
| By: | Khasieva, D. |
| Abstract: | During last 10 years there has been a significant rise in the number of research, which explores gender diversity as an important business asset. These studies proved the connection between women presence in the team and firm performance, innovation level of firm, and its competitive ability. These findings made diversity one of the leading directions in the development of human resource management practices. Our study is dedicated to exploring the application of talent management, as a part of human resource management, to women with respect to their specific features. Our goal is to evaluate how these practices can impact on firm performance and to extract factors, which regulate diversity adaptation process. With this purpose, the literature review was performed. In this working paper, we present the key points of literature review in field of diversity management and talent management, identify the research gap, formulate research questions, set research framework, and ground them in the existing theories. |
| Keywords: | talent management practices, talent management practices, gender diversity, female talents, Russian context, |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:sps:wpaper:16129&r=all |
| By: | David Rushing Dewhurst; Christopher M. Danforth; Peter Sheridan Dodds |
| Abstract: | Foreign power interference in domestic elections is an age-old, existential threat to societies. Manifested through myriad methods from war to words, such interference is a timely example of strategic interaction between economic and political agents. We model this interaction between rational game players as a continuous-time differential game, constructing an analytical model of this competition with a variety of payoff structures. Structures corresponding to all-or-nothing attitudes regarding the effect of the interference operations by only one player lead to an arms race in which both countries spend increasing amounts on interference and counter-interference operations. We then confront our model with data pertaining to the Russian interference in the 2016 United States presidential election contest, introducing and estimating a Bayesian structural time series model of election polls and social media posts by Russian internet trolls. We show that our analytical model, while purposefully abstract and simple, adequately captures many temporal characteristics of the election and social media activity. |
| Date: | 2019–08 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1908.02793&r=all |
| By: | Ellison, Martin; Sargent, Thomas J; Scott, Andrew |
| Abstract: | Britain was the richest country in the world at the outbreak of the Great War, benefitting from all the resources of an industrialised country and a large empire. Funding the war contributed to the beginning of the end for British hegemony. Financiers in London extracted a high price for lending their money to the government to pay for the supplies and munitions needed to win the war. The US extracted a similarly high price for lending to Britain during the war. Russia never paid its war debts to Britain; France, Italy and Belgium got off lightly; but for a long time the US insisted on Britain repaying in full. |
| Keywords: | British Hegemony; National Debt; World War I |
| JEL: | N24 N44 |
| Date: | 2019–07 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:13848&r=all |
| By: | Valery Baskakov; Nikolay Sheparnev; Evgeny Yanenko |
| Abstract: | The paper proposes an original methodology for constructing quantitative statistical models based on multidimensional distribution functions constructed on the basis of the insurance companies' data on inshurance policies (including policies with deductible) and claims incurred. Real data of some Russian insurance companies on non-life insurance contracts illustrate some opportunities of the proposed approach. The point and interval estimates of net premium, claims frequency, claims reserves including IBNR and OCR, are thus obtained. The resulting estimate of claims reserves falls in the range of reasonable estimates calculated on the basis of traditional reserving methods (the chain-ladder method, the frequency-severity method and the Bornhuetter-Ferguson method). The proposed methodology is based on additive estimates of a company's financial indicators, in the sense that they are calculated as a sum of estimates built separately for each element of the sample (claim). This allows using the proposed methodology to model insurance companies' financial flows and, in particular, to solve the problems of reserve redistribution between particular segments of insurance portfolio and/or time intervals; to adjust risk as part of financial reporting under IAS 17 Insurance Contracts; and to deal with many other tasks. The accuracy of insurance companies' financial parameters estimate based on the proposed methods was tested by statistical modeling. IBNR was used as the test parameter. The modeling results showed a satisfactory accuracy of the proposed reserve estimates. |
| Date: | 2019–08 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1908.05200&r=all |
| By: | Yevhen Marynchak (Department of Financial Law of Taras Shevchenko National University of Kyiv) |
| Abstract: | Проблематика зв'язку особи з державою завжди посідала провідне місце серед науковців не лише правових наук. З часів появи першого політико-правового зв'язку особи з державою – громадянства, минуло вже понад двохсот років, але принципових змін в ньому не відбулося: ті ж права, та ті самі обов'язки. Наслідком соціально-економічної інтеграції суспільства у ХХ столітті, відбулося виокремлення нового фінансово-правового зв'язку особи з державою. Змістом цього зв'язку є не політичні права та громадянські обов'язки, а зобов'язання податкового характеру та права, що з них випливають. Монографія присвячена взаємозв'язку фізичної особи з суверенним політико-правовим утворенням через її участь у публічних фінансових відносинах, що виникають з приводу мобілізації, розподілу та використання централізованих фондів коштів. Актуальність проблематики фінансово-правового зв'язку зумовлена не лише малодослідженістю змістовної складової, а й новими світовими трендами ХХІ століття, як-от функціонування наддержавних утворень – економічних союзів або навпаки, наділення певної окремої території держави власною податковою юрисдикцією – оффшорні зони. Фінансовий суверенітет – це потенційна можливість суверенного утворення на породження правовідносин з мобілізації грошових коштів, створення публічних фондів коштів та їх розподіл за визначеними напрямками державного та суспільного розвитку. На науковому рівні, до складових частин фінансового суверенітету відносять фіскальний та податковий суверенітети. Перший підвид стосується залучення всіх можливих публічних доходів, другий – лише доходів податкового характеру. В той же час, кожному рівню суверенітету, відповідає відповідний рівень юрисдикції. Так, зокрема, податкова юрисдикція – це фактична реалізація податкового суверенітету щодо встановлення, зміни та припинення відповідних правовідносин в межах суверенної території держави та осіб, що пов'язані з державою фінансово-правовим зв'язком. В роботі також аналізуються рівні податкової юрисдикції суверенних утворень. Окрема увага приділяється правовому статусу платника податків, його природі та принципам на яких він побудований. Досліджується вплив економічних теорій оподаткування на зміни в правовому статусі платника податків. Аналізуються принцип громадянства – політико-правовий зв'язок особи з державою та принцип резиденства – фінансово-правовий зв'язок особи з податковою юрисдикцією. Досліджуються причини та етапи трансформації політико-правового зв'язку в фінансово-правовий зв'язок. Робляться авторські висновки про правову природу фінансового зв'язку особи з податковою юрисдикцією та надається йому визначення, що це ступінь соціально-економічної прив'язаності особи до певного рівня фіскальної юрисдикції суверенного утворення, що характеризується відповідним обсягом податкових обов'язків перед ним, та похідними від них правами, та, одночасно з цим, межа розподілення податкової юрисдикції двох різних суверенних утворень. Монографія виконана у 2019 році на кафедрі фінансового права юридичного факультету Київського національного університету імені Тараса Шевченка. Основою для написання монографії стала дисертаційна робота на тему: «Правовий статус резидентів – платників податку на доходи фізичних осіб», захищена 31.05.2018 р. на засіданні спеціалізованої вченої ради Д 26.001.04 Київського національного університету імені Тараса Шевченка. Рекомендовано до друку Вченою радою юридичного факультету Київського національного університету імені Тараса Шевченка (протокол № 11 від 20 травня 2019 р.) |
| Keywords: | принцип територіальності,політико-правовий зв'язок,фінансово-правовий зв'язок,принцип резидентства,принцип громадянства,фінансовий зв'язок,податкова юрисдикція,податковий суверенітет,резидентський статус,податкові резиденти,подвійне оподаткування,фінансове право,податкове право |
| Date: | 2019–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02262442&r=all |