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on Confederation of Independent States |
| By: | Ruediger Bachmann; David Baqaee; Christian Bayer; Moritz Kuhn; Andreas Löschel; Benjamin Moll; Andreas Peichl; Karen Pittel; Moritz Schularick |
| Abstract: | This article discusses the economic effects of a potential cut-off of the German economy from Russian energy imports. We show that the effects are likely to be substantial but manageable. In the short run, a stop of Russian energy imports would lead to a GDP decline in range between 0.5% and 3% (cf. the GDP decline in 2020 during the pandemic was 4.5%). |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:ces:econpr:_36&r= |
| By: | Vera Komarova (Daugavpils University) |
| Abstract: | The interdisciplinary study "ECONOMICS IN WORDS. Terminology Consistency in Translations of Economic Texts" is aimed to assess terminology consistency within corpora of Latvian and Russian textbooks on economics of "three generations" (1990s, 2000s and 2010s) (n = 61 textbook), and in addition to them – bilingual and multilingual dictionaries of economic terms issued in Latvia and Russia since 1990 (n = 9 dictionaries). In the framework of this study, terminology consistency is conceptually understood as a component of the overall quality of terminology in translations of economic texts. Results of the empirical research show that terminology consistency in textbooks on economics statistically significantly increased in the 2010s compared to the 1990s and 2000s. Using the methodology of linguistic discourse analysis, which includes both quantitative and qualitative methods, the author concluded that translation studies are able to discern social asymmetries behind linguistic ones. Considering the experience of socio-economic metamorphoses both over the past 30 years and in earlier periods, the author emphasizes the special importance of critical thinking in the creation, translation and perception of modern economic texts. The work is positioned by the author as a scientific research in the field of economic linguistics, which covers the relationship between economic reality and the language of economic texts. |
| Abstract: | Starpdisciplinārā pētījuma "EKONOMIKA VĀRDOS. Terminoloģijas konsekvence ekonomi-kas tekstu tulkojumos" mērķis ir novērtēt terminoloģijas konsekvenci "trīs paaudžu" (1990. gadu, 2000. gadu un 2010. gadu) ekonomikas mācību grāmatās latviešu un krievu valodā (n = 61 mācību grāmata), kā arī bilingvālajās un multilingvālajās ekonomikas terminu vārdnīcās, kas izdotas Latvijā un Krievijā kopš 1990. gada (n = 9 vārdnīcas). Šī pētījuma ietvaros terminoloģijas konsekvence konceptuāli tiek saprasta kā terminoloģijas kopējās kvalitātes sastāvdaļa ekonomikas tekstu tulko-jumos. Empīriskās izpētes rezultāti rāda, ka terminoloģijas konsekvence ekonomikas mācību grā-matās statistiski nozīmīgi palielinājās 2010. gados salīdzinājumā ar 1990. gadiem un 2000. gadiem. Pielietojot lingvistiskās diskursanalīzes metodoloģiju, kas ietver sevī gan kvantitatīvās, gan kvalita-tīvās metodes, autore secināja, ka tulkošanas pētījumi spēj noteikt sociālās asimetrijas, pamato-joties uz lingvistiskajām asimetrijām. Ņemot vērā sociāli ekonomisko metamorfožu pieredzi gan pēdējo 30 gadu laikā, gan iepriekšējos periodos, autore uzsver kritiskās domāšanas īpašo nozīmību mūsdienu ekonomikas tekstu veidošanā, tulkošanā un uztverē. Šo darbu autore pozicionē kā zināt-nisko pētījumu ekonomiskajā lingvistikā, kas pētā attiecības starp ekonomisko realitāti un ekono-mikas tekstu valodu. |
| Abstract: | Междисциплинарное исследование "ЭКОНОМИКА В СЛОВАХ. Единообразие терминологии в переводах экономических текстов" посвящено оценке единообразия терминологии в корпусах учебников экономики "трёх поколений" (1990-х, 2000-х и 2010-х годов) на латышском и русском языках (n = 61 учебник) и в дополнение к ним – билингвальных и мультилингвальных словарей экономических терминов, вышедших в свет в Латвии и России после 1990 года (n = 9 словарей). В рамках данного исследования единообразие терминологии концептуально понимается, как структурный элемент общего качества терминологии в переводах экономических текстов. Результаты эмпирического исследования показали, что единообразие терминологии в словарно-учебных экономических текстах статистически значимо повысилось в 2010-х годах по сравнению с 1990-ми и 2000-ми годами. Используя методологию лингвистического дискурсивного анализа, включающую как количественные, так и качественные методы, автор пришла к выводу о том, что переводоведение способно за языковыми асимметриями разглядеть социальные. Учитывая опыт социально-экономических метаморфоз как в течение последних 30 лет, так и в более ранние периоды, автор подчёркивает особую значимость критического мышления при создании, переводе и восприятии современных экономических текстов. Данная работа позиционируется автором как научное исследование в области экономической лингвистики, анализирующее взаимосвязь между экономической реальностью и языком экономических текстов. |
| Keywords: | economics in words,economic texts,economic terminology,linguistic discourse analysis,translation studies,economic discourse,ekonomika vārdos,ekonomikas terminoloģija,tulkošanas pētījumi,ekonomikas diskurss,ekonomikas teksti,ekonomiskā lingvistika,lingvistiskā diskursanalīze,экономика в словах,экономические тексты,экономический дискурс,экономическая терминология: дингвистический дискурсивный анализ,экономическая лингвистика,переводоведение |
| Date: | 2022–02–17 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03579007&r= |
| By: | Niftiyev, Ibrahim |
| Abstract: | Much has happened in the three countries of the South Caucasus-namely, Azerbaijan, Georgia, and Armenia-since the collapse of the Soviet Union. Political events, institutional reforms, and economic development have resulted in greater economic welfare in these countries after the painful transition period of the 1990s. However, it remains to be seen whether they have achieved any solid results or whether they still have much to accomplish. While the answer is ambiguous, each country has followed a different political, geopolitical, economic, and institutional path and achieved different economic outcomes despite their close geographical proximity to each other. This paper compares the available data on economic and institutional quality in Azerbaijan, Georgia, and Armenia to portray the overall situation in terms of changes in institutional patterns. Then, special attention is given to Azerbaijan, as the country is considered to be oil-rich and thus resource-dependent. A comparative perspective on institutional quality suggests that Georgia has been a leading country in terms of institutions and effective bureaucracy-building, despite having lower economic indicators compared to Azerbaijan. Moreover, while Armenia is positioned between Georgia and Azerbaijan in terms of institutional quality, its economic growth is similar to Georgia's. Lastly, institutional variables (e.g., control of corruption, rule of law, and government effectiveness, and human rights) in Azerbaijan are negatively correlated with oil-related variables. This result aligns with the natural resource curse and Dutch disease theories, which posit that oil boom periods in mineral-rich countries are associated with a deterioration in institutional quality, thereby leading to slower growth. Also, the results are important to build up analytical frameworks to address the Dutch disease or resource curse studies in the case of Azerbaijan in a comparative manner with oil-poor countries even if the scope is limited to the South Caucasian former Soviet Union countries. |
| Keywords: | South Caucasus,Azerbaijan economy,oil boom,institutional quality,correlation analysis |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esconf:251193&r= |
| By: | Erlan Konebayev (NAC Analytica, Nazarbayev University) |
| Abstract: | This paper adds the banking sector to a commodity-exporting small open economy DSGE model and estimates it using the data for Kazakhstan between 2001 and 2019. The resulting model produces one-step-ahead predictions that are a good fit for the banking sector variables. We find that the oil price and risk premium shocks are the drivers of much of the economic activity in Kazakhstan - they explain a large part of the variation in most of the macro variables considered. A comparison with the baseline model that has no banking sector shows that the influence of the risk premium shock on real variables can be overestimated when financial frictions are excluded. The above-mentioned two shocks, along with the fiscal policy shock, have also significantly contributed to historical fluctuations in real GDP growth, although with no particular trend in the direction or magnitude of their effects. |
| Keywords: | DSGE; Bayesian analysis; small open economy; Kazakhstan |
| JEL: | C11 E30 E32 E37 |
| Date: | 2021–12 |
| URL: | http://d.repec.org/n?u=RePEc:ajx:wpaper:21&r= |
| By: | Bart Capéau; Duygu Güner; Nabil Sheikh Hassan; Jonas Vanderkelen; Toon Vanheukelom; Stijn Van Houtven; André Decoster |
| Abstract: | Belgian households are hit hard by the ongoing energy crisis. This was already the case before the Russian invasion of Ukraine, when energy prices increased because of a supply shock, exacerbated by the uplift in economic growth and accompanying higher demand for energy products. Year‐on‐year inflation stood at 8.0% in February 2022, the highest level in Belgium since August 1983 (Statbel 2022). The increase of the Consumer Price Index is driven by a price increase in electricity (+72.8%) and gas (+133.7%). However, not all households are faced with such a large price increase. Households with a fixed contract1 are protected – at least temporarily – against the adverse price shocks. New energy contracts are generally flexible. The longer the inflated prices persist, the more fixed contracts will end and forcibly be renewed with higher, flexible rates. The duration of this crisis is therefore of importance for the impact of the price shock and the time window covered by the analysis will thus affect itsassessment. The price shock is also asymmetric because of differences in household consumption patterns. While households in the bottom income decile spend 7.3% of their disposable income on electricity and gas, households in the top decile only spend 2.3%, and large differences within thedeciles exist as well. |
| Date: | 2022–03 |
| URL: | http://d.repec.org/n?u=RePEc:eca:wpaper:2013/340755&r= |
| By: | Tulun, Teoman Ertuğrul |
| Abstract: | AVİM, for some time, has been drawing attention for developments in Bosnia and Herzegovina (BiH) that threaten the country's sovereignty and territorial integrity. Confirming this foresight, the High Representative of Bosnia and Herzegovina in the report he has recently presented to the UN Secretary General stated the view that BiH is in imminent danger of breaking apart, and there is a very real prospect of a return to conflict. During the UN Security Council UNSC) debate, the representative of the USA expressed concern over Milorad Dodik statements indicating an intention to withdraw Republika Srpska entirely from the Government and described this move as a dangerous path for Bosnia and Herzegovina and the wider region. The Russian Federation (RF) insisted on the closure of the Office of the High Representative and openly declaresd that RF does not recognize the new High Representative. In the UNSC debate, Croatian representative made a "revisionist" statement, while the Serbian representative expressed balanced and careful views. Croatia was supported by the EU Delegation. The declaration of support by the EU for Croatia has a content that could lead to a dangerous path to the more revisionist developments in BiH. It is difficult to say that it is appropriate for the EU to make such a statement supporting the one constituent people at such a critical time. Bosniaks, one of the constituent and the most populous peoples of Bosnia and Herzegovina, were left without support and alone in the Security Council. At this critical juncture, Turkey, as a member of the Steering Board of the Peace Implementation Council, seems to be the only country that can show its support to the Bosniaks, reveal the EU's inaction and its partisan position in BiH, and not give an opportunity to those who want to drive the Bosniaks into the corner. |
| Date: | 2021–11–08 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:vazbh&r= |
| By: | Dinara Alpysbayeva (Norwegian University of Life Sciences, School of Economics and Business); Jozef Konings (Nazarbayev University, Graduate School of Business); Venkat Subramanian (Nazarbayev University, Graduate School of Business); Aigerim Yergabulova (Nazarbayev University, Graduate School of Business) |
| Abstract: | This paper studies within-firm pay inequality and its impact on firm performance in Kazakhstan. We measure within-firm pay inequality as the wage differential between the top- and the bottom-level job occupations. First, we report that wage inequality is higher in larger firms. This finding is consistent with the theories of differentiated pay schemes and the scope of control. Further, we explore to what extent a rise in firm inequality affects firm performance. Although a higher wage dispersion may serve as a signal to attract more productive or talented workers, we find no evidence to support the idea that incentive-based pay can boost overall firm performance. The negative impact points to rent extraction by top job occupations. |
| Keywords: | Pay inequality, Job occupations, Performance, Firm size |
| JEL: | J31 L25 M52 |
| Date: | 2022–03 |
| URL: | http://d.repec.org/n?u=RePEc:asx:nugsbw:2022-01&r= |