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on Confederation of Independent States |
| By: | Kaukin, Andrey (Каукин, Андрей) (The Russian Presidential Academy of National Economy and Public Administration); Miller, Evgeniya (Миллер, Евгения) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | The structure of the work is presented in four sections. The first section provides an overview of approaches and examples of the implementation of the atlas of the energy system in world practice. The second analyzes the current state and the main problems of the development of the energy system of Russia. The third section discusses the methodology for collecting and structuring data, as well as describes the architecture of the collected database on the energy system of Russia. In the fourth section, as a demonstration of the capabilities of the collected database, specific fuel consumption indicators for generating heat and electricity for each unit of Russian power plants are calculated, an average indicator for all stations in Russia, as well as an average indicator in a regional context. |
| Keywords: | energy, infrastructure industries, ecology, database, atlas of the energy system, the relationship of energy objects |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:042025&r=all |
| By: | Milogolov, Nikolay (Милоголов, Николай) (The Russian Presidential Academy of National Economy and Public Administration); Korytin, Andrey (Корытин, Андрей) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | This paper is devoted to the testing of the empirical hypothesis about impact of taxation on the decisions of foreign investors. We use empirical model suggested by the authors in order to assess the impact of tax factor on the decisions of foreign investors choosing sectors of Russian economy as object of investment. Authors make conclusion that there are necessary pre-conditions for international tax competition in the economic conditions which are common for Russian economy. |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:042029&r=all |
| By: | Kuznetsov, Dmitriy (Кузнецов, Дмитрий) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | The basis of the data used is the detailed data of the customs statistics of Russia. An empirical model for assessing the level of barriers to export at the customs border of the Russian Federation can be obtained on the basis of the simplest theoretical model of route selection by an international freight carrier. The study showed that time costs affect the flow of trade not only through an increase in transport costs, but also directly, reducing the value of the transaction for the seller and / or buyer. The magnitude of these effects is comparable, but for consumer goods, a relatively greater contribution of the direct component can be noted. In turn, this indicates that, generally speaking, the contribution of the time component to trade costs between the two countries depends, inter alia, on the structure of trade. |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:042028&r=all |
| By: | Suyunchev, Marat (Суюнчев, Марат) (The Russian Presidential Academy of National Economy and Public Administration); Repetyuk, Sergey (Репетюк, Сергей) (The Russian Presidential Academy of National Economy and Public Administration); Fayn, Boris (Файн, Борис) (The Russian Presidential Academy of National Economy and Public Administration); Tregubova, Ekaterina (Трегубова, Екатерина) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | This report, prepared according to the results of the research work “Development of approaches to the formation of a common electric energy market of the Eurasian Economic Union (EAEU)”, explores the features of the organization of electric energy and capacity markets in the countries of the Eurasian Economic Union and performs their comparative analysis in part technological and commercial infrastructure. The world experience of integration of electric power markets is considered, the features of the main models for the formation of common electricity markets abroad are identified. Based on the results of the study, an assessment of the possible effect of organizing a common electricity market for the Russian Federation was made and practical proposals were formulated to improve approaches to the formation of a common EAEU electricity market. |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:042035&r=all |
| By: | Komarov, Vladimir (Комаров, Владимир) (The Russian Presidential Academy of National Economy and Public Administration); Akimova, Varvara (Акимова, Варвара) (The Russian Presidential Academy of National Economy and Public Administration); Moskvitina, Natalia (Москвитина, Наталья) (The Russian Presidential Academy of National Economy and Public Administration); Voloshinskaya, Anna (Волошинская, Анна) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | It is shown that the theoretical concepts that underlie the methods of strategy development in Russia and abroad differ significantly. In Russia, the methodological approach to the development of strategies is based on increasing the competitiveness of the territory and is aimed at ensuring economic growth, in foreign countries — on the priority of increasing the quality of life and ensuring sustainable development in the long term. The paper proposes recommendations as to how the process of strategic planning in Russia and its end result might be improved. |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:042021&r=all |
| By: | Pleskachev, Yuriy (Плескачев, Юрий) (The Russian Presidential Academy of National Economy and Public Administration); Ponomarev, Yuriy (Пономарев, Юрий) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | National projects implementation and national development goals achievement is the most important medium-term priority for the Government in 2018-2024 based on the Decree No. 204 of the President of Russia, May 07, 2018. Successful implementation of such large-scale and ambitious challenges requires scientific support for monitoring the achievement of goals and performance indicators. In this paper, we present aggregate estimates of the attainability of national projects key performance indicators as well as attainability of national goals based on the developed methodology. |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:042031&r=all |
| By: | Jin, Olivia S.; Wunnava, Phanindra V. |
| Abstract: | Do you feel happier when you think you are richer? How does the perception of your own economic welfare affect your life satisfaction? This study examines subjective economic welfare and life satisfaction using the Russia Longitudinal Monitoring Survey covering years 1994 through 2018. The study shows that those who perceive themselves to be better off are also more satisfied with their lives, even while controlling for income, unemployment and other demographic characteristics. This study aims to provide a possible explanation of the ‘Easterlin Paradox a phenomenon in which individuals ’happiness increases with income, yet an increase in income of the whole society does not necessarily increase the happiness of all (1974). The results from this study suggests that the way one perceives their own economic welfare is a significant determinant of life satisfaction, and that the subjective economic welfare may be the driver of the ‘Easterlin paradox.’ The study also suggests the importance of studying subjective economic welfare, with possible implications on income inequality. Our findings suggest that a society with high income inequality, in which a small proportion of the population earns a large proportion of society’s income, will have lower collective life satisfaction. |
| Keywords: | Easterlin Paradox,life satisfaction,Ordered Probit,self perceived economic welfare,subjective wellbeing,Russian longitudinal data |
| JEL: | D60 D63 I31 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:625&r=all |
| By: | Knobel, Alexandr (Кнобель, Александр) (The Russian Presidential Academy of National Economy and Public Administration); Zaitsev, Yuriy (Зайцев, Юрий) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | This working paper is devoted to the study of interaction mechanism transformation aspects of economic agents within the framework of the modern economic system under the influence of digitalization. It also studies influence of digitalization on the behaviour of various types of economic agents, the identification of its direct and indirect effects on economic growth. Based on the research some we give some economic policy recommendations for Russian economy in order to maximize the positive effects of digitalization for the further growth. A wide range of factors was studied, an analysis of their influence was carried out, methodological approaches to assessing the impact of the digitalization of the economy on the dynamics of the main socio-economic parameters were developed, and empirical studies based on these approaches were carried out. The experimental calculations carried out in the study are more demonstrative in nature, and their main goal is to test the proposed methodological approach to measuring the level and dynamics of digitalization of the Russian economy in the system of macroeconomic estimates. |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:042033&r=all |
| By: | Agranovich, Mark (Агранович, Марк) (The Russian Presidential Academy of National Economy and Public Administration); Seliverstova, Irina (Селиверстова, Ирина) (The Russian Presidential Academy of National Economy and Public Administration); Livenets, Marina (Ливенец, Марина) (The Russian Presidential Academy of National Economy and Public Administration); Ermachkova, Yulia (Ермачкова, Юлия) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | The work describes the specifics of international education statistics, presents methodological approaches to a comparative analysis of educational systems based on statistical data, and the results of a study of Russian education in comparison with the educational systems of developed countries. The work analyses the world’s emerging patterns and trends of education development in such areas as the educational attainment of the population, participation of the population in education, the organization of the educational process, financing of education, the structure of the pedagogical staff, condition of teacher’s work and teacher’s wages. The report shows how the characteristics of educational systems are associated with the economic indicators of countries and the socio-economic effects of education for people, society and economy. The analysis of the conformity of the Russian education system indicators to the emerging patterns and trends in the world is carried out, and the specific characteristics of Russian education are shown. |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:042037&r=all |
| By: | Aizhan Bolatbayeva (NAC Analytica, Nazarbayev University) |
| Abstract: | This paper presents a two-country macroeconometric model for the economies of Kazakhstan and Russia. The model can be used for interpreting the structural relationship between the two economies, determining the degree of trade integration and implementing scenario analyses with various shocks. Single-country models are linked through bilateral trade and exchange rate equations. The baseline simulation of the two-country model demonstrates a good accuracy in tracking the actual dynamics of macroeconomic indicators in both countries. Scenario analyses are conducted with a risk premium shock in the bilateral exchange rate and a monetary policy shock in Russia to analyze the transmission mechanism of the shocks, and clarify on the kind of interdependency of the economies. The model shows a larger influence of the risk premium shock on economic activity in Kazakhstan than in Russia. A two percentage point decline in the key rate does not impose significant inflationary pressure while imports and the real exchange rate are the most affected variables in both countries. |
| Keywords: | Two-country macroeconometric model; Cowles Commission approach; Structural macroeconomic model; Scenario analysis |
| JEL: | B22 E17 E27 |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:ajx:wpaper:5&r=all |
| By: | Vlados, Charis (Democritus University of Thrace, Department of Economics); Chatzinikolaou, Dimos (Democritus University of Thrace, Department of Economics) |
| Abstract: | The multipolar cooperation between Brazil, Russia, India, China, and South Africa (BRICS countries) seems to be a significant development in the current phase of restructuring of globalization. This article explores the relationship between the emerging radical readjustment of the world hegemony equilibrium with the past and future dynamics of the global socioeconomic system. It examines the relation of the ongoing institutionalization by the BRICS with the established international institutions and the relation of BRICS to the promotion of global economic development. After presenting a structured interpretation of the actual emergence of a “new globalization,” the article focuses on the aspects of BRICS evolution and dynamics that contribute to the discussion of the rise of a more balanced and more democratic multipolar global regime. It notices that multipolar cooperation at the international level should be more democratic as the BRICS claim, although these countries (China and Russia, in particular) face increasing concerns for their liberal rights and democratization domestically. In conclusion, it seems that a new and relatively stable global system now requires a repositioned conception of capitalism as an evolutionary socioeconomic phenomenon, in which innovation is the central and predominant organic process within all organizations. |
| Keywords: | BRICS; Global restructuring; Multipolarity; Innovational capitalism; New globalization |
| JEL: | B52 F53 F63 F69 |
| Date: | 2020–05–15 |
| URL: | http://d.repec.org/n?u=RePEc:ris:duthrp:2020_008&r=all |
| By: | Rogozin, Dmitriy (Рогозин, Дмитрий) (The Russian Presidential Academy of National Economy and Public Administration); Ipatova, Anna (Ипатова, Анна) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | The preprint was written based on the results of research work carried out by the Social Research Methodology Laboratory of the Institute for Social Analysis and Forecasting, RANEPA under the President of the Russian Federation in 2019. The paper discusses the theoretical foundations for a methodological audit, the conduct of which is seen by the authors as the central, fundamental task of methodological work. The purpose of the methodological audit is not so much to search for fabrications and falsifications, but to assess systematic biases associated with the interviewer's effect, the level of refusals and the quality of the questionnaire, to obtain additional interpretations of the obtained distributions, which will ultimately lead to an increase in the quality of the information collected. The work is of interest to specialists and experts in the field of measuring public opinion, will be useful to students of sociological and marketing specialties, as well as to everyone interested in the methodology of mass polls. |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:042036&r=all |
| By: | Abdulloev, Ilhom (Open Society Institute Assistance Foundation, Tajikistan) |
| Abstract: | We examine how the forsaken schooling phenomenon in migration evolved over time in Tajikistan. After completing compulsory schooling at ages 16-17, young men in Tajikistan are forsaking professional education because of opportunities to migrate for higher paid low-skilled jobs in the Russian Federation. We study how the forsaken schooling effect changed because of migrant-receiving Russia's recent tightened migration policy and economic slowdown, and policies promoting fair access to professional education in migrant-sending Tajikistan. |
| Keywords: | migration, traps, education, skill |
| JEL: | O15 P46 F22 I24 |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp13435&r=all |
| By: | Avraamova, Elena (Авраамова, Елена) (The Russian Presidential Academy of National Economy and Public Administration); Loginov, Dmitriy (Логинов, Дмитрий) (The Russian Presidential Academy of National Economy and Public Administration); Klyachko, Tatiana (Клячко, Татьяна) (The Russian Presidential Academy of National Economy and Public Administration); Yakovlev, Ivan (Яковлев, Иван) (The Russian Presidential Academy of National Economy and Public Administration); Polushkina, Elena (Полушкина, Елена) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | The study is devoted to the development of complementary vocational education in the context of innovative development. Basing on the analysis of the data of the survey among employers and employees in the sectors of the economy that may be viewed as potentially innovative, external and internal factors that stimulate the request for knowledge update from both employers of various fields and employees of various educational level are considered. Besides, the most common practices of complementary education, forms of training and financing of complementary vocational programs have been studied. The forms of interaction between employers and organizations providing services of complementary education have also been analyzed. |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:042023&r=all |
| By: | Boukraine, Wissem |
| Abstract: | Increasing inequality keeps any economy stuck in the middle-income group despite its strong growth. The largest of the middle-income economies are the BRICS countries (Brazil, Russia, India, China and South Africa). In this paper we intend to investigate the long run relation between financial development and income inequality and the shape of the curve that describes it for the BRICS countries. We will tests the Greenwood and Jovanovich (1990) hypothesis by estimating an Autoregressive Distributed Lag (ARDL) for the period 1980-2017. We found evidence for an inverted U-shaped curve relation in Brazil, Russia, India and China; which validate the GJ hypothesis. |
| Keywords: | Financial development, Income inequality, ARDL, BRICS |
| JEL: | C13 G20 I30 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:101976&r=all |
| By: | Afees A. Salisu (Centre for Econometric & Allied Research, University of Ibadan, Ibadan, Nigeria); Juncal Cunado (Economics Department, University of Navarra, Spain); Kazeem Isah (Centre for Econometric & Allied Research, University of Ibadan, Ibadan, Nigeria); Rangan Gupta (Department of Economics, University of Pretoria, Pretoria, 0002, South Africa) |
| Abstract: | We attempt to predict the exchange rate returns of BRICS countries with the global oil price using large historical datasets for over a century extending from September 1859 to April 2020. We formulate a predictive model that accounts for the salient features of the predictor and the predicted series in line with the recent literature. We establish, with the aid of asymmetry, that oil price is a good predictor of exchange rate returns for all the net oil-importers (India, South Africa and China) and one of the two net oil-exporters (Russia). We also demonstrate with compelling in-sample and out-of-sample forecast results that accounting for the role of asymmetry is crucial for the oil-based model to beat the benchmark (historical average) model. |
| Keywords: | Oil price, Exchange rate return, BRICS, Asymmetry, Predictability, Forecast evaluation |
| JEL: | C22 C53 F31 Q47 |
| Date: | 2020–07 |
| URL: | http://d.repec.org/n?u=RePEc:pre:wpaper:202064&r=all |
| By: | Avraamova, Elena (Авраамова, Елена) (The Russian Presidential Academy of National Economy and Public Administration); Klyachko, Tatiana (Клячко, Татьяна) (The Russian Presidential Academy of National Economy and Public Administration); Loginov, Dmitriy (Логинов, Дмитрий) (The Russian Presidential Academy of National Economy and Public Administration); Semionova, Elena (Семионова, Елена) (The Russian Presidential Academy of National Economy and Public Administration); Tokareva, Galina (Токарева, Галина) (The Russian Presidential Academy of National Economy and Public Administration); Yakovlev, Ivan (Яковлев, Иван) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | Monitoring is based on the analysis of statistical data characterizing the current economic situation of regional general education systems, as well as sociological information obtained during a survey of parents of students, teachers and school directors of regional capitals, urban settlements and rural areas in the subjects of the Russian Federation, differentiated by the level of economic situation. In 2019, the total sample size was 4,479 respondents from the Pskov, Samara and Yaroslavl regions. This work presents the results of a sociological survey of teachers and parents of students, revealing their attitude to such aspects of general education as the personnel situation, teacher satisfaction with professional activities, career prospects, family requests for school activities, and the formation of students' educational strategies. |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:042024&r=all |
| By: | International Monetary Fund |
| Abstract: | This Selected Issues paper on Estonia examines impact of assessing competitiveness and exposure to shocks integrating global value chains (GVCs). This paper strengthens the analytical underpinnings of competitiveness assessments and exposure to shocks by incorporating GVCs. Standard real effective exchange rates (REER) indexes assume trade is only in final goods. However, like most European economies, Estonia is highly integrated into GVCs. This implies that assessments of competitiveness should consider trade in value added. Based on a structural model, the paper assesses competitiveness and exposure to trade shocks accounting for the GVC participation in Estonia. The analysis using a REER index considering the GVC architecture suggests potential competitiveness problems in Estonia. The paper also estimates the impact of overvaluation (and appreciation) of the GVC related REER measure on value added export and real GDP growth and finds observable effects. Further, trade tension induced tariff hikes may have important costs for value added produced in Estonia. |
| Keywords: | Economic sectors;Human capital;Public sector;Money laundering;Poverty;Income distribution;ISCR,CR,CFT,AML,EFSA,on-site inspection,GPG |
| Date: | 2020–01–22 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2020/013&r=all |
| By: | Antonova, Maria (Антонова, Мария) (The Russian Presidential Academy of National Economy and Public Administration); Shagaida, Natalia (Шагайда, Наталья) (The Russian Presidential Academy of National Economy and Public Administration); Uzun, Vasiliy (Узун, Василий) (The Russian Presidential Academy of National Economy and Public Administration); Ternovskiy, Denis (Терновский, Денис) (The Russian Presidential Academy of National Economy and Public Administration); Gataulina, Ekaterina (Гатаулина, Екатерина) (The Russian Presidential Academy of National Economy and Public Administration); Potapova, Alexandra (Потапова, Александра) (The Russian Presidential Academy of National Economy and Public Administration); Shishkina, Ekaterina (Шишкина, Екатерина) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | Recently, the Government of the Russian Federation has been actively engaged in the issue of the formation and development of small business entities that play an important role in the country's agricultural production, and in many regions are dominant. However, small producers face different problems: a small volume of production and, as a result, difficulties in selling products, lack of competitiveness in the market, lack of necessary skills, equipment, etc. Cooperation is aimed at mitigating and solving these difficulties. It can help farmers and rural people to adapt to a market economy, improve access to markets, modern equipment and technologies, increase the competitiveness and profitability of cooperation participants. |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:042027&r=all |
| By: | Suyunchev, Marat (Суюнчев, Марат) (The Russian Presidential Academy of National Economy and Public Administration); Temnaya, Olga (Темная, Ольга) (The Russian Presidential Academy of National Economy and Public Administration); Agafonov, Dmitriy (Агафонов, Дмитрий) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | The paper abstracts the results of research scientific work «"The tariff effects research of Cross-Subsidisation in electroenergetics", that classifies the types of Cross-Subsidisation in Russian Federation Wholesale and Retail electricity markets, and evaluates the rate and tariff effects of Cross-Subsidisation for various consumers groups. The research evaluates the possibilities to reduce the Cross-Subsidisation rate and submits the optimal solutions for Cross-Subsidisation curtailment in transmission rates between household and other electricity consumers. |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:042034&r=all |
| By: | Vedev, Alexey (Ведев, Алексей) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | The paper provides an assessment of the dynamics of the state's share in the Russian banking sector; the analysis of the consequences of financial rehabilitation of large private banks and a comparison of the effectiveness of various rehabilitation mechanisms carried out by the financial authorities in recent years has been carried out; the features of the functioning of the Russian banking system in the conditions of a structural liquidity surplus are investigated. |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:042032&r=all |
| By: | Anatoliy Kostruba (Vasyl Stefanyk Precarpathian National University); Roman Maydanyk; Volodymyr Luts |
| Abstract: | In the process of interaction of corporate governing bodies with other entities of corporate legal relations to ensure its organizational and economic activity, situations are possible when the parties to such interaction pursue multi-vector or mutually exclusive goals, which is caused by the polar pursuit of corporate interests. The purpose of the paper is to identify the peculiarities of bonum requirements of the beneficiary in the system of corporate rights protection in Ukraine and to study foreign experience in this aspect. The concept of bonus requirements of the beneficiary was considered as a means of protecting corporate rights and a way of resolving a corporate conflict; derivative (indirect) action was investigated as a way of resolving corporate conflict in other countries; the theoretical and statutory consolidation of the basis of civil liability of the corporation governing body is determined; the responsibility of the governing body of the corporation for the damage caused and the principle of protection of the weaker party are outlined; the concept and legal nature of the derivative action as a way of protecting the rights for damages caused by the governing body of the corporation on the basis of the dictionary definitions of the term are provided. It was concluded that the principle of protection of a weaker party in the corporate law of Ukraine is a general idea of providing legal protection of a party of legal relations, which is limited by the appropriate possibility due to self-regulated and purposeful legal actions (creation of a legal subject-legal entity) as a form of compensation of identical level of legal possibilities of participants of civil law relations. |
| Keywords: | civil legislation,business activity,conflict,bonum requirement,beneficiary,derivative action,Corporations |
| Date: | 2020–07–27 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02910169&r=all |
| By: | Strokov, Anton (Строков, Антон) (The Russian Presidential Academy of National Economy and Public Administration); Shagaida, Natalia (Шагайда, Наталья) (The Russian Presidential Academy of National Economy and Public Administration); Ternovskiy, Denis (Терновский, Денис) (The Russian Presidential Academy of National Economy and Public Administration); Lugovoy, Oleg (Луговой, Олег) (The Russian Presidential Academy of National Economy and Public Administration); Barinova, Vera (Баринова, Вера) (The Russian Presidential Academy of National Economy and Public Administration); Potashnikov, Vladimir (Поташников, Владимир) (The Russian Presidential Academy of National Economy and Public Administration); Lanshina, Tatiana (Ланьшина, Татьяна) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | Using the GLOBIOM partial equilibrium model, we wanted to evaluate the possible ways of Russia's development in the framework of scenarios for the intensification or intensification of crop production until 2030 and until 2050. The advantage of this model is that, given prices and supply and demand, it is able to find a solution for a particular country, choose the most profitable crops, direct production there, and also calculate the greenhouse gas emissions from agricultural activities based on the results of calculations. |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:042026&r=all |
| By: | International Monetary Fund |
| Abstract: | This Selected Issues paper conducts a review of taxes on labor in Kazakhstan, which, despite the current relatively low level of collections, have the potential to become an important source of non-oil fiscal revenue. This paper focuses on one group of non-oil taxes, personal income tax and other taxes on labor, and reviews their effective burden, progressivity, and efficiency. These taxes are found to have limited responsiveness to oil-sector fluctuations, and thus help enhance the resilience of public finance to oil shocks. The existing labor tax system is characterized by a low, flat headline rate, limited progressivity except at the lower end of household income distribution due to deduction of the minimum wage, and a relatively high tax burden mainly born by the formal sector. Having a more equitable and efficient labor tax system would involve a targeted strategy for deductions and exemptions, expanding the tax base, and continuing to improve tax design, administration, and collection enforcement. |
| Keywords: | Economic growth;Public finance;Fiscal sustainability;Capital;Oil prices;ISCR,CR,rules-based,extrabudgetary,labor tax,progressivity,medium-term |
| Date: | 2020–02–07 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2020/038&r=all |
| By: | Zubarev, Andrey (Зубарев, Андрей) (The Russian Presidential Academy of National Economy and Public Administration); Shilov, Kirill (Шилов, Кирилл) (The Russian Presidential Academy of National Economy and Public Administration); Bekirova, Olga (Бекирова, Ольга) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | This study analyzes evolution of the Russian banking system in the period 2013–2018 using monthly balance sheet data. We provide an econometric analysis of main factors that affected banks’ sustainability during that period. We also distinguish factors of bank default in the period from 2013 to 2017, including the crisis of 2014-2015, and afterwards. |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:042030&r=all |
| By: | Anton Grui (National Bank of Ukraine) |
| Abstract: | In this study, I modify the uncovered interest parity condition to account for foreign exchange interventions in the context of a small open economy. This is done in a framework of a semistructural New Keynesian model. I examine the case of Ukraine, which de facto transitioned to inflation targeting with a managed float in 2015 after a long period of pegged exchange rate. I simulate model-consistent foreign exchange interventions and use them to quantify the effectiveness of those actually observed. The proposed modification is relevant for inflation targeting regimes with foreign exchange interventions as an additional instrument and those in transition. |
| Keywords: | New Keynesian model, UIP, exchange rate, FX interventions |
| JEL: | E12 E17 E52 F31 |
| Date: | 2020–08–18 |
| URL: | http://d.repec.org/n?u=RePEc:gii:giihei:heidwp14-2020&r=all |
| By: | International Monetary Fund |
| Abstract: | This 2019 Article IV Consultation with Republic of Kazakhstan discusses that the political transition has increased the focus on social conditions and regional and rural development. Discussions focused on enhancing the inflation-targeting framework, bank soundness, the fiscal framework, structural reforms, and governance. Growth has been buoyed by new spending, retail credit, and oil and gas investments. Inflation has picked up, and the current account has deteriorated. High domestic demand driven by major oil and gas investments and government and household consumption supported by wage increases and consumer lending has underpinned the economy’s strong performance. The state continues to play a strong role in the economy, and the authorities face challenges ensuring that measures are well targeted and effective in promoting private sector growth. The challenges include oil volatility and dependency, reliance on subsidies and other state support, still-impaired banks, and governance vulnerabilities. Progress is being made with structural reform implementation, with many of the flagships “100 Concrete Steps” completed and the remaining ones broadly on track. Efforts to promote a smaller state footprint should continue, with actions to improve governance and mitigate corruption vulnerabilities. |
| Keywords: | Balance of payments;Economic indicators;Central banks;Macroprudential policies and financial stability;Monetary policy;ISCR,CR,NBK,non-oil,percent of GDP,SOEs,tenge |
| Date: | 2020–01–29 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2020/032&r=all |
| By: | Koen Decancq; Marc Fleurbaey; François Maniquet |
| Abstract: | We propose a new approach to multidimensional poverty measurement. To aggregate and weight the different dimensions of poverty, we rely on the preferences of the concerned individuals rather than on an arbitrary weighting scheme selected by the analyst. We provide an axiomatic characterization of an approach in which multidimensional poverty measures add up individual indices of poverty based on their multidimensional outcomes and their preferences. We discuss two families of these individual indices of poverty: quantity metrics and money metrics. Members of the first family evaluate individual poverty by the fraction of the poverty line vector to which the individual is indifferent. The second family considers the ratio between the income to which the individual is indifferent, for some fixed price vector, and the money value of the poverty line vector. We illustrate our approach with Russian survey data between 1995 and 2005. We find that, compared to standard poverty indices, our preference-sensitive indices lead to considerable differences in the identification of the poor |
| Date: | 2019–03 |
| URL: | http://d.repec.org/n?u=RePEc:hdl:wpaper:1905&r=all |
| By: | Anatoliy Kostruba (Vasyl Stefanyk Precarpathian National University) |
| Abstract: | Майже рік в Україні діє нове процесуальне законодавство, мета якого полягає в забезпеченні захисту прав кожного на справедливий суд на засадах верховенства права відповідно до європейських стандартів. Проте, деякі положення господарського процесуального кодексу України викликають сумніви відносно змістовної можливості досягнення вказаної мети, що є приводом для публічної дискусії. Так, відповідно до частини 2 статті 302 Господарського процесуального кодексу України суд, який розглядає справу в касаційному порядку у складі колегії суддів або палати, передає справу на розгляд об'єднаної палати, якщо ця колегія або палата вважає за необхідне відступити від висновку щодо застосування норми права у подібних правовідносинах, викладеного в раніше ухваленому рішенні Верховного Суду у складі колегії суддів з іншої палати або у складі іншої палати чи об'єднаної палати. Відповідно до статі 3 Закону України «Про судоустрій і статус суддів», прийнятий в розрізі реалізації положень статі 124 Конституції України встановлює систему судоустрою України. Відповідно до її положень суди України утворюють єдину систему. Так, судоустрій будується за принципами територіальності, спеціалізації та інстанційності. Систему судоустрою складають місцеві суди, апеляційні суди, Верховний Суд якнайвищий судовий орган в системі судоустрою. При цьому, конституційним законом встановлено (стаття 37), що у складі Верховного Суду діють: 1) Велика Палата Верховного Суду; 2) Касаційний адміністративний суд; 3) Касаційний господарський суд; 4) Касаційний кримінальний суд; 5) Касаційний цивільний суд. У кожному касаційному суді утворюються судові палати з розгляду окремих категорій справ з урахуванням спеціалізації суддів. Такої форми організації діяльності Верховного Суду та здійснення ним правосуддя як об'єднання палата Касаційного господарського суду Законом України «Про судоустрій і статус суддів» не передбачено. Наведене свідчить що створення в складі Касаційного господарського суду такого органу як об'єднання палата, вчинення ним правосуддя від імені України не передбачено статтею 37 Закону України «Про судоустрій і статус суддів». Зміст права на справедливий суд, як складової принципу верховенства права передбачає можливість вчинення правосуддя відносно особи компетентним судом, який має не тільки відповідні повноваження, але й створений в спосіб, передбачений конституційною процедурою (стаття 124 Конституції України). Наведене ставить під сумність дієвість механізму захисту цивільних прав та інтересів в суді. |
| Keywords: | supreme court,soft law,Legal practice,court practice |
| Date: | 2018–12–19 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02863697&r=all |
| By: | Anatoliy Kostruba (Vasyl Stefanyk Precarpathian National University) |
| Abstract: | В сучасних національних та європейських правових реаліях як форма структурної ідентифікації юридичної особи виступає корпорація. В залежності від типу правової системи її застосування для суб'єктного вираження форми регулювання цивільних відносин отримує різне змістовне наповнення. Традиційним є розуміння корпорації як синоніму юридичної особи в країнах англо-саксонської правової системи, зокрема в США. В романо-германській правовій системі, поняття «корпорація» має переважно доктринальне значення. Не будучи закріпленим в законодавстві відповідних країн, за своєю сутнісною характеристикою, під корпорацією розуміється товариство, метою створення якого є здійснення підприємницької діяльності, шляхом залучення капіталу для спільного інвестування з метою отримання прибутку або досягнення мети суспільного інтересу. Але «корпоративність» - це засіб забезпечення індивідуалізованого інтересу групи осіб, який не пов'язаний з фіксованим способом його реалізації. Тому, проводити паралель між поняття «корпоративний» та «підприємницький» не доречно. Термін «корпоративний» не повинен обмежується виключно сферою підприємницької діяльності. В цьому контексті слід навести, що непоодинокими є випадки розуміння корпорації в так званому «широкому» сенсі. На думку деяких вчених, корпорація – це юридична особа (комерційна або некомерційна організація), що ґрунтується на принципі участі (членства). Здійснення підприємницької діяльності не є обов'язковим критерієм корпорації. Корпоративні відносини виникають між будь-якою юридичною особою та її учасниками. Крім того, чинне законодавство України не дає підстав для не визнання корпораціями непідприємницьких товариств. Навпаки, поділ товариств проводиться на два види: підприємницькі і непідприємницькі, що підкреслює належність їх до однієї організаційно-правової форми. Учасники усіх товариств мають право участі в них, однак зміст цього права в кожному з видів товариств не однаковий. Отже до корпорацій відносяться як підприємницькі так і непідприємницькі товариства. Зазначимо, що корпорація це форма об'єднання приватних інтересів осіб, які може переслідувати мету не тільки виключно матеріального змісту. Той інтерес, який прагнуть учасники юридичної особи приватного права може мати також некомерційний характер та бути скерованим на досягнення спільної для них соціально орієнтованої мети, наприклад задоволення економічних, соціальних, культурних, екологічних, та інших інтересів певної групи осіб. При цьому відсутність майнового інтересу учасника в діяльності юридичної особи приватного права не впливає на змістовність його участі в неї. Отже природа корпоративних прав не змінюється залежно від матеріальної складової інтересу учасника юридичної особи приватного права. Так відсутність майнового інтересу учасника не деформує його вплив на діяльність юридичної особи та не корегує характеру його участі в діяльності такої юридичної особи. Для корпорації характерним є стан відносин між нею та її учасниками, який полягає в концентрації їх інтересу чи капіталу навколо мети діяльності корпорації. Така риса дозволяє пояснити природу одноособовості учасника корпорації. Мета діяльності корпорації, яка розкривається через прагнення в реалізації приватного інтересу, виключає її обмеженість її сферою підприємницької діяльності. Наведене свідчить, що діалектика відносин юридичної особи приватного права з її учасником, сутність яких полягає у їх синергетичності майнової та немайнової взаємообумовленості, чим забезпечується самостійність існування окремого суб'єкта права - юридичної особи, як рефлексії її учасника в правовому полі, розкриває інше, широке розуміння категорії «корпоративного», яка не обмежує правові відносини між юридичною особою та її учасником фактором потенційної прибутковості. |
| Date: | 2018–10–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02863643&r=all |
| By: | International Monetary Fund |
| Abstract: | This 2019 Article IV Consultation with Estonia discusses that the outlook is favorable for the near term, however, for slower economic activity for the medium term. Th economy has performed well in recent years, supported by prudent management and effective structural reforms. Growth remains strong and unemployment is at a record low. Inflation is above the euro-area average, consistent with Estonia’s convergence process. Wages are rising, reflecting a tight labor market and skill shortages at the high end of the labor market. Absent reforms to boost productivity and manage demographic challenges, however, growth will slow notably. The authorities need to guard against potential overheating in the near term while taking advantage of sizable fiscal buffers in the medium term to support innovation and labor supply and reduce inequality. The report recommends that it is imperative to consider changes that preserve the pension system’s viability and sustainability, while promoting policies that address inequality. This includes raising female labor participation through broader implementation of gender pay transparency and flexible childcare arrangements. |
| Keywords: | External sector;Financial crises;National income;Financial markets;Financial soundness indicators;ISCR,CR,AML,CFT,wage growth,text figure,GDP,article IV consultation |
| Date: | 2020–01–22 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2020/012&r=all |
| By: | Zarina Adilkhanova (NAC Analytica, Nazarbayev University) |
| Abstract: | Dynamic stochastic general equilibrium (DSGE) models are widely used by central banks, government agencies and financial organizations to conduct simulation and forecast relevant macroeconomic indicators in the economy. The most important inputs into all DSGE models are structural parameters which are either calibrated from other sources or estimated via Bayesian methods. Using non-public microlevel data, we estimate ten structural parameters for Kazakhstan: the elasticity of substitution between exports and imports, constant relative risk aversion, intertemporal elasticity of substitution in consumption, Frisch elasticity of labor supply, the depreciation rate of physical capital, capital and labor shares, and the elasticity of substitution between tradable and nontradable goods. Various econometric techniques such as fixed-effects, generalized method of moments (GMM), Arellano-Bond, and non-linear iterative maximum likelihood estimation are used to obtain consistent estimates of the models' coefficients. The structural parameters can be used in calibrated DSGE models as fixed parameters or as prior information in Bayesian estimation of the models. |
| Keywords: | DSGE; CRRA; Frisch Elasticity of Labor Supply; Depreciation rate; Capital and Labor Shares; Nontradables |
| JEL: | D10 D20 F10 |
| Date: | 2019–12 |
| URL: | http://d.repec.org/n?u=RePEc:ajx:wpaper:2&r=all |
| By: | Denis Belomestny; Ekaterina Krymova; Andrey Polbin |
| Abstract: | The main goal of this paper is to develop a methodology for estimating time varying parameter vector auto-regression (TVP-VAR) models with a timeinvariant long-run relationship between endogenous variables and changes in exogenous variables. We propose a Gibbs sampling scheme for estimation of model parameters as well as time-invariant long-run multiplier parameters. Further we demonstrate the applicability of the proposed method by analyzing examples of the Norwegian and Russian economies based on the data on real GDP, real exchange rate and real oil prices. Our results show that incorporating the time invariance constraint on the long-run multipliers in TVP-VAR model helps to significantly improve the forecasting performance. |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2008.00718&r=all |