nep-cis New Economics Papers
on Confederation of Independent States
Issue of 2021‒03‒01
five papers chosen by

  2. The Place and Importance of Oil in Terms of the Kurdistan Regional Economy: Contract Oriented Oil Production By Toptancı, Ali İskan
  3. Seasonal adjustment of the Bank of Russia Payment System financial flows data By Sergey Seleznev; Natalia Turdyeva; Ramis Khabibullin; Anna Tsvetkova
  4. Questionning Fishing Access Agreements towards Social and Ecological Health in the Global South By Frédéric LE MANACH; Mialy ANDRIAMAHEFAZAFY; Nadège LEGROUX; Laure QUENTIN
  5. Economic Policy Uncertainty: Cross-Country Linkages and Spillover Effects on Economic Development in Some Belt and Road Countries By Jing Yuan; Yajing Dong; Weijie Zhai; Zongwu Cai

  1. By: Anton N. Afanasiev (National Research University Higher School of Economics); Ksenia V. Komosa (National Research University Higher School of Economics)
    Abstract: The article examines the self-identification and professional values of the university community in post-Soviet Russia. On the basis of the corpus of the interviews, which were recorded by the Poletayev Institute for Theoretical and Historical Studies in the Humanities (Moscow) in the 2010s, the authors analyse how the contemporary Russian scholars consider the problems of university autonomy and university management, as well as the criteria to define an ideal University and an ideal Professor. Instead of the unique perceptions on the specifics of research and educational characteristics of university space and people, the present investigation represents the problematization of the basic definitions of university and its purposes by the contemporary Russian scholars.
    Keywords: oral history, history of post-soviet universities, university community, academic persona
    JEL: Z
    Date: 2021
  2. By: Toptancı, Ali İskan
    Abstract: A production sharing agreement is a contract that regulates the relations between an oil-producing country and an international oil company, or between a national oil company and an international oil company. An international oil company bears all petroleum operating expenses and in return covers the cost value and its shares and expenses from oil production. An oil-producing country receives its share of oil production and receives taxes. Iraq signed oil sharing agreements with West Al Qurna, a Russian oil company, in 2007 and 2008 to develop an oil field. The Kurdistan Region has used production sharing agreements with international oil companies by the Kurdistan Region Oil and Gas Law No. 28 2007. This was done although the oil contracts were not recognized by the Iraqi federal governments. The Kurdistan Region Administration claimed that such oil contracts encourage and attract international investments in the Kurdistan Region and that these agreements have legitimacy according to Article 112 of the Iraqi Constitution. Article 112 gives the Kurdistan Regional Government the right to oil contracts with international oil companies. International oil companies carry the most risk in production sharing contracts, but oil contracts are also more suitable for them. Because these contracts provide a framework for maximum recovery and oil production. In the Kurdistan Region, oil contracts have become a political issue rather than a legal and economic problem between the Kurdistan Region and Iraq. The study shows that production sharing agreements are more attractive than Iraqi oil contracts for the Kurdistan Regional Government. Therefore, international oil companies demand to invest more in the Kurdistan Region. In this case, there are some disadvantages. International oil companies generally have more control over setting contract terms. They can negotiate long-term and broad contract terms against oil-producing countries.
    Keywords: Kurdistan Region,Oil Sharing Contracts,Oil
    Date: 2021
  3. By: Sergey Seleznev (Bank of Russia, Russian Federation); Natalia Turdyeva (Bank of Russia, Russian Federation); Ramis Khabibullin (Bank of Russia, Russian Federation); Anna Tsvetkova (Bank of Russia, Russian Federation)
    Abstract: This paper describes the seasonal adjustment algorithm used by the Bank of Russia to clean up data for ‘Monitoring of Sectoral Financial Flows’ weekly publication. We have developed a simple and fast procedure based on a set of trigonometric functions and dummy variables that demonstrates good results in terms of various quality metrics and can be easily modified for working with more flexible model specifications.
    Keywords: daily seasonal adjustment, time series, sectoral financial flows, Bayesian estimator.
    JEL: C11 C22 E32 E37
    Date: 2020–12
    Abstract: While marine ecosystems play a major role in the regulation of climate and our Planet's ability to cope with climate change, they are also critical for providing food, livelihood, and income to billions of people worldwide. Unfortunately, they face increasing threats due to anthropic activities. In many regions, various types of agreements have historically organized and commodified the access to the resources of the Exclusive Economic Zones of coastal States to distant-water fishing nations. These longstanding commercial mechanisms can take the form of either private agreements between a State and a fishing company, public agreements between two States, or joint ventures between two companies. They are used by a variety of industrialized fishing countries and blocs such as the European Union, the USA, Russia, Japan, and China to access fisheries resources in the waters of the Global South. In Europe, these fishing agreements most often take the form of “public access agreements”, i.e. agreements that are negotiated between a coastal State (e.g. Senegal or Madagascar) and the European Commission, on behalf of the European fleets. These public fishing access agreements have become an integral part of the Common Fisheries Policy, granting EU vessels access to the bountiful waters of Africa, and, to a much lower extent, Oceania. Unlike for other fishing nations such as Russia, Turkey or China — whose severe impacts on local ecosystems and coastal communities are suspected but poorly documented — the analysis of European public fishing access agreements is facilitated by a relatively high level of transparency and data availability. This paper examines and questions global fishing access agreements through the lens of the public agreements established between the European Union and African countries. Specifically, we contextualize the property and management of marine resources at sea, and provide some of the most up-to-date information regarding the state-of play of EU public fishing access agreements. The notion of “surplus”, which is at the heart of many global fishing agreements, is also explored and challenged. We conclude our analysis with three avenues for researchers and policy makers: i) the development of more complex, multi-user regional models as the scientific basis for fishing access agreements, ii) the need to increase research investments and transparency in order to develop such models, and iii) an improvement in monitoring, control and surveillance necessary to drive practices in the Global South towards more sustainability and equity.
    JEL: Q
    Date: 2021–02–12
  5. By: Jing Yuan (School of Statistics, Shandong Technology and Business University, Yantai, Shandong 264005, China); Yajing Dong (School of Statistics, Shandong Technology and Business University, Yantai, Shandong 264005, China); Weijie Zhai (School of Statistics and Data Science, Nankai University, Tianjin, Tianjin 300071, China); Zongwu Cai (Department of Economics, The University of Kansas, Lawrence, KS 66045, USA)
    Abstract: This paper studies the correlation and spillover effect of the economic policy uncertainty (EPU) among 10 countries in the Belt and Road (including 5 central countries: China, Russia, Singapore, France and Germany, and 5 peripheral countries: India, Japan, Korea, Greece and UK). We use a copula technique to analyze the correlation of the EPU and a mixed-frequency global VAR model to characterize the spillover effect of the EPU. We find that the correlation of the EPU among the 10 countries is very strong and the spillover effect of the EPU from the central countries to the peripheral countries is statistically significant. As a result, for the harmonious and win-win development, the Belt and Road countries should pay a close attention to the EPU, because the stability of the EPU can greatly promote the economic development.
    Keywords: Belt and Road Initiative; Copula Technique; Economic Policy Uncertainty; Global VAR; Spillover Effect.
    JEL: D80 C32 C45
    Date: 2021–02

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