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on Confederation of Independent States |
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Issue of 2023‒03‒06
forty-five papers chosen by |
| By: | Anatoliy Kostruba (Vasyl Stefanyk Precarpathian National University) |
| Abstract: | Unfortunately, the state of development of corporate legislation of Ukraine leaves much to be desired. Despite the intensification of the legislative process in Ukraine in this area, we cannot say with certainty that numerous changes in the regulatory array have a reasonable basis. Among the conditions is the situational nature of changes, its haphazardity, the political commitment of the rulemaking process, which is due to the possibility of obtaining economic preferences from the budget at the expense of the integrity of many stable legal constructions used in the field of human privacy. All this creates a "bizarre kaleidoscope" of legislative contradictions, which destroys not only the theory of civil law, but it impedes effective enforcement. Trends in the development of corporate legislation of Ukraine at the present stage of state formation. The above shows that Ukraine's corporate legislation requires significant reform. The issue of Ukraine's international obligations established by the Association Agreement between Ukraine and the European Union of Atomic Energy (2014) is especially acute. Analysis of the dynamics of the development of corporate legislation of Ukraine in the periodization of 2000 - 2022 reveals the tendencies of overcoming the negative consequences of "chaos of disoriented norm -making", which is one of the challenges of the time facing our country today. Among these, we define the following: (1) unification of corporate legislation of Ukraine; (2) coordination of corporate legislation of Ukraine; (3) differentiation of corporate legislation of Ukraine; (4) ensuring the interests of the participants of the corporation; (5) digitalization of corporate legislation of Ukraine; (6) stimulating the social responsibility of the corporation; (7) harmonization of corporate legislation with EU law. |
| Abstract: | Malheureusement, l'état de développement de la législation d'entreprise de l'Ukraine laisse beaucoup à désirer. Malgré l'intensification du processus législatif en Ukraine dans ce domaine, nous ne pouvons pas dire avec certitude que de nombreux changements dans le tableau réglementaire ont une base raisonnable. Parmi les conditions, il y a la nature situationnelle des changements, sa hasard, l'engagement politique du processus de réglementation, qui est dû à la possibilité d'obtenir des préférences économiques à partir du budget au détriment de l'intégrité de nombreuses constructions légales stables utilisées dans le domaine de la vie privée humaine. Tout cela crée un "kaléidoscope bizarre" des contradictions législatives, qui détruit non seulement la théorie du droit civil, mais elle entrave l'application efficace. Tendances dans le développement de la législation d'entreprise de l'Ukraine au stade actuel de la formation des États. Ce qui précède montre que la législation d'entreprise de l'Ukraine nécessite une réforme importante. La question des obligations internationales de l'Ukraine établies par l'accord d'association entre l'Ukraine et l'Union européenne de l'énergie atomique (2014) est particulièrement aiguë. L'analyse de la dynamique du développement de la législation d'entreprise de l'Ukraine dans la périodisation de 2000 à 2022 révèle les tendances à surmonter les conséquences négatives du "chaos de la création de normes désorientées", qui est l'un des défis du temps confronté à notre pays aujourd'hui . Parmi ceux-ci, nous définissons ce qui suit: (1) l'unification de la législation d'entreprise de l'Ukraine; (2) la coordination de la législation d'entreprise de l'Ukraine; (3) différenciation de la législation d'entreprise de l'Ukraine; (4) assurer les intérêts des participants de la société; (5) la numérisation de la législation d'entreprise de l'Ukraine; (6) stimuler la responsabilité sociale de la société; (7) L'harmonisation de la législation d'entreprise avec le droit de l'UE. |
| Abstract: | На жаль стан розвитку корпоративного законодавства України залишає бажати кращого. Не зважаючи на інтенсифікацію законотворчого процесу в Україні в цій сфері ми не можемо з упевненістю сказати, що численні зміни нормативного масиву мають під собою розумне підґрунтя. Серед умов – ситуативний характер змін, його безсистемність, політична заангажованість нормотворчого процесу, що обумовлене можливістю отримання економічних преференцій від бюджету на шкоду цілісності багатьох сталих юридичних конструкцій, які використовуються в сфері приватного життя людини. Все це створює «химерний калейдоскоп» законодавчих протиріч, який руйнує не тільки теорію цивільного права, але перешкоджає ефективному правозастосуванню. Тенденції розвитку корпоративного законодавства України на сучасному етапі державотворення. Наведене свідчить, що корпоративне законодавство України потребує свого суттєвого реформування. Особливо гостро стає питання в контексті виконання міжнародних зобов'язань України, встановлених Угодою про асоціацію між Україною та Європейським Союзом з атомної енергії (2014 рік). Аналіз динаміки розвитку корпоративного законодавства України в періодизацій 2000 – 2022 років дозволяє виявити тенденції подолання негативних наслідків «хаосу дезорієнтованого нормотворення» що є одним із викликів часу, що стоїть перед нашою країною сьогодні. Серед таких ми визначено наступні: (1) Уніфікація корпоративного законодавства України; (2) Координація корпоративного законодавства України; (3) Диференціація корпоративного законодавства України; (4) Забезпечення інтересів учасників корпорації; (5) Цифровізація корпоративного законодавства України; (6) Стимулювання соціальної відповідальності корпорації; (7) Гармонізація корпоративного законодавства з правом ЄС. |
| Keywords: | corporations, Civil law doctrine, Legal entities of commercial law, Kostruba, partnership |
| Date: | 2022–09–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03868112&r=cis |
| By: | Alexander Knobel (The Russian Presidential Academy Of National Economy And Public Administration); Yuriy Zaytsev (The Russian Presidential Academy Of National Economy And Public Administration); Kniaz Bagdasaryan (The Russian Presidential Academy Of National Economy And Public Administration); Marina Baeva (The Russian Presidential Academy Of National Economy And Public Administration); Vladimir Sedalishchev (The Russian Presidential Academy Of National Economy And Public Administration); Maria Kazaryan (The Russian Presidential Academy Of National Economy And Public Administration); Dmitriy Kuznetsov (The Russian Presidential Academy Of National Economy And Public Administration); Diana Mirakyan (The Russian Presidential Academy Of National Economy And Public Administration); Nikita Toropov (The Russian Presidential Academy Of National Economy And Public Administration) |
| Abstract: | The CIS countries, or more broadly the former republics of the USSR, are effectively making a choice between European (EU) and Eurasian (EAEU) integration, which leads to certain benefits and risks for all CIS+ countries (including Ukraine and Georgia), especially for Russia. The cases of Ukraine, Georgia and Moldova are of primary interest. Termination of trade and economic cooperation, disruption of value chains, etc. entail a serious threat to industrial development for Russian industries and individual enterprises. Crisis phenomena such as the COVID-19 pandemic, for example, only exacerbate these trends. Great Britain’s departure from the EU (Brexit) at the end of January 2020 is also of research interest. The topics of the post-Soviet countries and their trade and economic cooperation with different countries have been studied by various authors since the collapse of the USSR. In the past ten years, there has been an increase in the activity of studying these problems, in connection with the development of the European Neighborhood Policy on the one hand and Eurasian integration on the other. Research by foreign and domestic authors can be distinguished into the following groups: 1) Analysis, including quantitative analysis, of various integration scenarios for the CIS+ countries. 2) The confrontation between European and Eurasian integrations, as well as the problems of the EAEU. 3) Problems of cooperation between Russia and the post-Soviet countries, including at the level of individual enterprises. However, the issue of assessing the risks and possible consequences at the enterprise level for the EAEU countries from the implementation of the agreements of the CIS member states remains insufficiently studied, especially taking into account the participation in value chains and the importance of industrial recovery after the COVID-19 pandemic, etc. |
| Keywords: | trade and economic relations, regional trade agreements (RTA), CIS, EAEU, post-Soviet space |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022033&r=cis |
| By: | Blinov V.I (The Russian Presidential Academy of National Economy and Public Administration); Satdykov A.I (The Russian Presidential Academy of National Economy and Public Administration); Esenina E.Yu. (The Russian Presidential Academy of National Economy and Public Administration); Dulaeva Z.K. (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | Presidential Decree No. 204 dated May 7, 2018 “On the National Goals and Strategic Objectives of the Development of the Russian Federation for the period until 2024” defines the development directions of the education system in the medium term. The Decree sets such goals as ensuring global competitiveness of Russian education, bringing Russia into top ten countries worldwide in terms of general education, and modernization of vocational education, including through the introduction of adaptive, practice-oriented and flexible educational curricula. The “Development of Education” state program of the Russian Federation for the years 2018-2025 puts forward the requirement to improve Russia’s position in the Program for International Student Assessment (PISA) in the fields of natural science, reading and mathematical literacy, increase the number of employed graduates of educational organizations trained in secondary vocational education programs. Approved by the Collegium of the Russian Ministry of Education in October 2020, the draft Strategy for Improvement of the Workforce Training and Applied Qualifications Development System in the Russian Federation for the period until 2030 includes the improvement of the general education quality by updating teaching methods and technologies as one of the top priorities in the development of secondary vocational education (SVE) institutions, taking into account the professional orientation of vocational education programs, inclusion of intensive training methods, applied modules and the use of distance learning and electronic education technologies, networked education programs and annual Russia-wide testing works. However, the quality of general secondary education in SVE and ways to improve it still remain an issue. The aim of the preprint is to present the analysis findings of the existing general education model at Russian secondary vocational education institutions compared to their foreign counterparts. The study is based on the methodology of system analysis and uses methods of comparative analysis, interviews and expert methods. The study produced findings of comparative analysis of various approaches to the organization of general education in the vocational education system in Russia and abroad. The relevance of the study is represented by a set of proposals for building a promising general education program for students in secondary vocational education institutions, based on the analysis findings. The results of the study can be applied in organizing general education training as part of the secondary vocational education programs at the federal and regional levels. |
| Keywords: | secondary vocational education, general secondary education, general education model. |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022001&r=cis |
| By: | IRINA V. GRISHINA (The Russian Presidential Academy Of National Economy And Public Administration); ANDREY O. POLYNEV (The Russian Presidential Academy Of National Economy And Public Administration); ANDREY O. POLYNEV (The Russian Presidential Academy Of National Economy And Public Administration); ALEXANDER V. KOTOV (The Russian Presidential Academy Of National Economy And Public Administration) |
| Abstract: | The relevance of the research undertaken at RANEPA in 2021 is due to the fact that it is devoted to identifying perspective specializations of Russian regions, the targeted federal support of which will ensure the maximum effect in the growth of GRP, labor productivity, innovation activity and export volumes in the regions. The specialized types of economic activity of the regions are the subject of the study. To achieve the goal of determining the existing and perspective development of regional specializations, the following tasks were solved: a review of foreign and domestic experience in development of regional specializations was conducted, the author's methodological approach was developed, a comprehensive assessment of the specializations of the regions of Russia was carried out, and measures of their targeted federal support were proposed. The scientific novelty of the research lies in the fact that three localization indicators (products shipped, number of employees and investments in fixed assets in 173 economic activity types) were used together for the first time to identify the specializations of the regions (based on Rosstat data for 2017-2019). A comprehensive assessment of the prospects for the development of regional specializations includes defining their national and regional significance, labor productivity, innovation, and export activity, and considers their impact on the region’s development based on sectoral multipliers in terms of gross value added and the number of employees. Research methods include systemic analysis, factor analysis, statistical analysis of regional features of sectoral development, index method, etc. Using the proposed approach, the results of the evaluation of perspective specializations for 35 regions (for priority geostrategic regions and regions with individual development programs) were obtained, for which a set of sector-wide and specific measures of federal support was proposed. The application of the author’s approach is recommended for informational and methodological support and increasing the effectiveness of the state regional policy of Russia. |
| Keywords: | specialization of the region's economy, regions of Russia, type of economic activity, analysis methodology, perspective specialization, national development goals |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022021&r=cis |
| By: | Alexander E. Abramov (The Russian Presidential Academy Of National Economy And Public Administration); Yury A. Belyakov (The Russian Presidential Academy Of National Economy And Public Administration); Alexander D. Radygin (The Russian Presidential Academy Of National Economy And Public Administration); Maria I. Chernova (The Russian Presidential Academy Of National Economy And Public Administration) |
| Abstract: | This work is focused on studying the impact of dividend policy on stock returns and capitalization of companies in the BRICS countries. The purpose of the study is to identify the features of dividend policy and differences across the BRICS countries and South Korea. The relevance of the work lies in the fact that the cross-country aspects of the dividend policy of companies and the possibilities of factor investment in the BRICS countries remain poorly explored. The objectives of the study include collecting the most representative sample of companies representing the stock markets of respective countries, analyzing the potential for applying dividend factor strategies, identifying similarities and differences in the countries' dividend policies; analysis of the long-term relationship between the capitalization of companies and their dividend policy. Research methods are based on modeling investment strategies, as well as the multivariate capital asset pricing models based on Bloomberg data. The scientific novelty of the study included an expanded sample of companies, collection of a unique database with multiple factors over a fairly long historical period, and the development of a new approach to research based on classical methods. The main results of the study include the fact that dividend payments were growing in most countries, and high dividends did not contribute to the growth of the companies' capitalization. The increase in dividend payments turns out to be beneficial for private investors, who receive a cumulative return above the market average in the long run. The best performing portfolios were those in the markets of Russia and Brazil. We revealed the dividend premiums in the markets of Russia, Brazil, India and South Africa, factoring in the company size and value. The main findings suggest that high dividends can help companies in the BRICS countries attract long-term investors, and this may be the main incentive for companies in implementing dividend policies. At the same time, this strategy is quite risky for the companies, since high dividend payments do not necessarily result in capitalization growth. A further direction of this study is to expand the sample of countries, increase the number of risk factors, increase the historical period for analysis, as well as to include more specific factors, since the topic of dividend policy has not lost its relevance for many decades, especially for developing countries. |
| Keywords: | dividend payment, dividend policy, stock returns, Russian companies, state-owned companies, factor investment. |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022023&r=cis |
| By: | Kurakova Nataliya G. (The Russian Presidential Academy Of National Economy And Public Administration); Zinov Vladimir G. (The Russian Presidential Academy Of National Economy And Public Administration); Eremchenko Olga A. (The Russian Presidential Academy Of National Economy And Public Administration); Tsvetkova Liliya A. (The Russian Presidential Academy Of National Economy And Public Administration); Kurakov Fedor A (The Russian Presidential Academy Of National Economy And Public Administration) |
| Abstract: | The role of universities in contemporary social and economic systems of various countries is undergoing significant changes and involves the actualization of approaches to defining the functions of educational organizations. At the same time, university startups are viewed as the most dynamic elements of regional economies, capable of creating export-oriented science-intensive products and new high-tech jobs. The transformation and development of regional entrepreneurial ecosystems using universities as a trigger for academic entrepreneurship involves the stimulation by the authorities of the constituent entities of the federation of the start-ups establishment process by universities in cooperation with local or global enterprises of the real sector of the economy. The objective of this study is to analyze the factors that stimulate academic technological entrepreneurship, as well as barriers that impede the implementation of business ideas of university employees and students, related, inter alia, to the commercialization of the results of intellectual activity (RIAs). The subject of study is the individual elements of entrepreneurial ecosystems and the degree of their influence on the acceleration of the technological development of the constituent entities of the Russian Federation. The study used general scientific analytical methods (case study, content analysis, comparative analysis). The sources of information were Russian and foreign scientific publications, official data of state authorities, the Bloomberg Terminal analytical system. Based on the results of the study, an overview of foreign practice of stimulating academic entrepreneurship is presented, key factors that determine the productivity of startup ecosystems of the world's leading universities and critical barriers that hinder the development of domestic technological entrepreneurial ecosystems are highlighted. The conducted study allows us to draw the following conclusions. In the constituent entities of the Russian Federation, it is not possible to find the entire set of basic factors that contribute to the involvement of RIAs created at the local universities into the regional economy, as well as the inclusion of startups founded by graduates or employees of universities in the horizontal network interaction. Critical barriers to the development of technological ecosystems include the following. There are no universities in the regions demonstrating global academic leadership (excellence). Academic entrepreneurship in regional universities of Russia is not institutionalized. Regional and national support for academic entrepreneurship does not include such an important element as creating a market for innovative university products at the regional, national and international levels. Universities have not created sufficient inter-university and intra-university venture and endowment funds, which causes a shortage of seed investments in technology projects developed on the basis of universities. Academic entrepreneurship is not facilitated by the structure of the existing body of young researchers, dominated by bachelors, while masters and graduate students only make up a small share of researchers. The low level of financial support for graduate students forces 90% of them to combine research activities with labor, and 80% of working graduate students find work outside the university, depriving the young researchers’ scientific and technological activities of a systemic nature. Most regional domestic universities still do not have an effective technology transfer system as a tool for harmonizing the interests of the authors of technical solutions and the university. The scientific novelty of the study is due to the proposed broad approach to the creation of legal conditions supporting deeper involvement of the constituent entities of the Russian Federation and business in the management of universities and in the implementation of development programs. The study substantiates the need to radically relax legal regulation, control and supervisory activities in relation to universities and to enshrine in law the right to risk for those ready to implement ambitious development projects. It is shown that direct support of promising teams at universities requires more autonomy for educational and scientific departments of the universities, including the right of separation, and targeted grant support to world-class teams with the right to move to another university, which would involve a radical revision of the role and functions of the rectors and Boards of Directors of the Universities. The authors emphasize the need to change approaches to the management of the property complex of universities; review the approaches to mergers and acquisitions of universities and scientific organizations in order to fundamentally transform the university management system and open it to beneficiaries. The recommendations for accelerating the institutional transformation of regional universities in Russia into entrepreneurial universities and the formation of university ecosystems include using a set of measures aimed at solving the problem of attracting seed funding for student startups; transforming the university management systems and opening them to beneficiaries; building the students’ educational paths depending on the needs of the founding student's startup; creating a network of university technology transfer centers; reforming the graduate school and creating a favorable environment for technological creativity. |
| Keywords: | Entrepreneurial ecosystem, academic entrepreneurship, intellectual property, technology transfer, small innovative enterprises, startups, regional research and educational centers, industrial partners, cooperation, technological development, national goals, national project "Science and Universities". |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022015&r=cis |
| By: | Borzykh K.A. (The Russian Presidential Academy Of National Economy And Public Administration); Ponomarev Y.Y. (The Russian Presidential Academy Of National Economy And Public Administration); Radchenko D.M. (The Russian Presidential Academy Of National Economy And Public Administration); Salimova D.R. (The Russian Presidential Academy Of National Economy And Public Administration) |
| Abstract: | Air transport accounts for the largest share of passenger turnover compared to other modes of transport, which makes it of particular importance in Russia. The strategic goals to develop the regional airport network, which are fixed by Presidential Decrees No.204 of 2018 and No.474 of 2020, as well as the recent external shock – the spread of the coronavirus pandemic, which resulted in an 85% decrease of domestic air traffic – explain the relevance of studying the factors which affect the development of regional markets for air passenger traffic. The aim of the study is to analyze the determinants of the spatial distribution of air passenger flows in Russia. This research applies a number of scientific methods, such as synthesis, analysis, induction, deduction, etc. It also entails the analysis of relevant literature and open statistical sources, and applies spatial econometrics models to take into account the geographical distribution of air passenger flows. The results of the study are conclusions about the impact of regional socio-economic characteristics as well as spatial interdependence on the volume of air passenger traffic. The model estimates indicate that the actual distribution of regional air traffic is subject to a gravity mechanism. What is more, the spatial heterogeneity of the passenger traffic distribution has been confirmed. One of the major characteristics of the current network configuration in Russia is the pronounced star-shaped structure of air traffic: in 2009-2018 up to 95% of the total passenger traffic from the Russian regions passed through the Moscow hub, whereas the regional opportunities to generate passenger flows bypassing Moscow were limited. According to the scenario analysis, which was carried out to estimate the potential effects resulting from stimulation of air passenger traffic, the strongest effect on the air traffic is provided by stable regional economic growth. This effect becomes even more pronounced if the measure is combined with the support of air carriers through reduction of flight service costs and stimulation of consumers’ demand through subsidies. Further research is aimed at a more detailed scenario analysis of possible effects resulting from the optimization of the regional airport network in Russia. |
| Keywords: | air traffic, spatial analysis, gravity modeling, regional flows, passenger traffic |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022036&r=cis |
| By: | S.Yu. Alasheev (The Russian Presidential Academy Of National Economy And Public Administration); V.V. Komarov (The Russian Presidential Academy Of National Economy And Public Administration); T.G. Kuteynitsyna (The Russian Presidential Academy Of National Economy And Public Administration); N.Yu. Postalyuk, (The Russian Presidential Academy Of National Economy And Public Administration); V.A. Prudnikova (The Russian Presidential Academy Of National Economy And Public Administration); E.G. Reprintseva (The Russian Presidential Academy Of National Economy And Public Administration) |
| Abstract: | The relevance of this study is determined by the task of synchronizing the activities of the vocational education and training (VET) system in the constituent entities of the Russian Federation with the regions’ social and economic development needs. The object of the research is the regional practices of the VET system in the context of social and economic development of the constituent entities of the Russian Federation in which they are located. The purpose of the study is to develop a rating of the constituent entities of the Russian Federation by the alignment of their VET systems with the demands of the regional labor markets. The study used open source databases (websites of the government of constituent entities of the Russian Federation, educational authorities, professional educational organizations) and statistical information. |
| Keywords: | vocational education and training (VET) system, labor market, regional development, focus on the economy needs, rating of regions. |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022017&r=cis |
| By: | Radchenko D.M. (The Russian Presidential Academy Of National Economy And Public Administration); Rostislav K.V. (The Russian Presidential Academy Of National Economy And Public Administration); Ponomarev Y.Y (The Russian Presidential Academy Of National Economy And Public Administration) |
| Abstract: | The transport industry is one of the key components of the Russian economy, not only generating a substantial amount of gross value added, but also ensuring the spatial connectivity of the country's territories. Acceleration of technological progress, introduction of new technologies in various industries require corresponding increase in cargo and passenger transportation, which implies speeding up the development of high-speed transportation, following the path most intensively developing countries took in the last decade. On the global scale, high-speed rail transport is confidently occupying a niche in the range of 400-800 km when organizing mass transportation and ensuring the shortest travel time. In Russia, high-speed rail service is just beginning to develop as part of the goals and objectives set forth in Presidential Decree No. 204 of May 7, 2018 and the Comprehensive Plan for the Modernization and Expansion of Mainline Infrastructure, the Program for organizing high-speed and high-speed rail service in the Russian Federation. At the same time, despite numerous studies of the quantitative effects of investment in transport infrastructure, the effects of high-speed rail service development have not been studied in practice in the domestic economic literature. This determines high relevance of such a study, as well as an assessment of the positive effects of the development of high-speed rail communication in Russia within the framework of scenario analysis. The purpose of the study is to develop an approach and conduct scenario assessments of the socio-economic effects of the development of high-speed railway communication in Russia. Main goals: a review of approaches to assessing the effects of HSR, analysis of strategic plans for the development of HSR in Russia, two-ways effects assessment: at the country panel and at the regional level in a simulation model. The research methods include economic and mathematical modeling and economic analysis based on model complexes built at RANEPA, particularly a prototype spatial simulation model of the Russian economy. The object of the research is the effects of the development of high-speed railway communication in Russia. Key results: based on cross-country data, it is shown that the development of both high-speed and express rail service contributes significantly to economic growth: the elasticity of GDP per capita for the length of high-speed and express rail lines is 0.029–0.036 and 0.042-0.048 respectively, for the presence of HSR - 0.125. Scenario analysis based on a simulation model also demonstrates an increase in population mobility, cost of living, and other indicators in the regions where HSR is projected to be built. |
| Keywords: | spatial development, high-speed rail traffic, transport, rail transport, high-speed rail traffic, high-speed railways, high-speed traffic, high-speed rail. |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022019&r=cis |
| By: | Vedev A.L (The Russian Presidential Academy Of National Economy And Public Administration); Tuzov K.A. (The Russian Presidential Academy Of National Economy And Public Administration); Kovaleva M.A. (The Russian Presidential Academy Of National Economy And Public Administration); Eremkin V.A. (The Russian Presidential Academy Of National Economy And Public Administration) |
| Abstract: | The relevance of this study is related to the fact that every national financial system in the world has some degree of financially excluded population, and only the proportion of such population varies between countries or regions of a country. The importance of identifying the financially excluded population in Russia and its regions and developing a policy to reduce its proportion is an urgent task that will help develop the financial sector and address the most important social tasks outlined in presidential decrees. The purpose of the study is to develop a working definition of financial exclusion, conduct a study of financial inclusion in Russian regions and, based on its results, develop measures to increase the availability of financial services in constituent entities of the Russian Federation. The subject of this research is the quality of financial system of the Russian Federation. The research method or methodology is based on a comprehensive analysis of the systems for designing indicators of the availability of financial services developed by such international organizations as the World Bank, the International Monetary Fund, the Global Partnership for Financial Inclusion, the Alliance for Financial Inclusion, and their application, while taking into account the specifics and approaches to definition and measurement of the availability of financial services at the national level. As a result of the work carried out, the international practice of increasing availability of financial services was reviewed, a methodological approach to studying the availability of financial services at the national and federal levels was developed and tested, and recommendations on increasing the availability of financial services in regions of Russia were given. The scientific novelty of the research lies in the collection and analysis of unique data on the state of financial services availability in the Russian regions. The recommendations produced as a result of the study indicate the need for further improvement of the financial system in terms of its focus on young people, people with a low level of education and socially unprotected segments of the population (need for new products and services), increasing the level of financial literacy of population and ensuring its well-being. The project was carried out as part of research work by the Laboratory for Structural Research of the RANEPA Institute of Applied Economic Research in 2021. |
| Keywords: | Financial inclusion, financial literacy, financial services for citizens, financial services for small businesses, financial sector, credit institutions, microfinance, credit cooperatives, Russian regions, opinion poll |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022024&r=cis |
| By: | Nigmatulina, Dzhamilya |
| Abstract: | Using a unique natural experiment of staggered firm-level sanctions against Russia in 2014-2020 and the data on over 900, 000 Russian firms, I estimate the effect of sanctions on targeted firms and on the aggregate economy. Surprisingly, sanctioned firms on average gained 38% more capital inputs after sanctions relative to the industry trends. The effect is in part driven by sanctioned state-owned firms, getting 60% more capital relative to non-sanctioned firms. Using additional data on subsidies and government contracts, I find that this result is explained by the government protection of targeted firms, that more than compensated for a negative sanctions shock. However, the sanctioned firms were already too large and had too much capital prior to sanctions. I use a heterogeneous firm framework to show that the distortions between sanctioned and non-sanctioned firms, which existed before the sanctions, got exacerbated after the joint effect of sanctions and government protection. I combine the causal estimates with the quantitative frame-work and estimate that on the aggregate, the Russian TFP dropped at least by 0.33% reaching 3% in relevant sectors. |
| Keywords: | misallocation; macro development; state-ownership; poltical connections; SOEs; sanctions; Russia |
| JEL: | D60 F37 F51 O10 O11 O12 O40 |
| Date: | 2022–11–23 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:118037&r=cis |
| By: | International Monetary Fund |
| Abstract: | Finland has further improved the regulation and supervision of its financial sector since the 2016 FSAP, in part driven by European legislation and institutions. The size of the banking sector increased significantly in 2018 with the redomicilation of Nordea. Finland weathered the COVID-19 pandemic well relative to other economies, with fiscal support and interventions from the authorities. However, Finland is now navigating a weaker economic outlook given the war in Ukraine and ensuing energy crisis, despite limited direct financial exposures to Russia. |
| Date: | 2023–01–23 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2023/039&r=cis |
| By: | Thibbotuwawa, Manoj; Dissanayake, Nimesha; Niwarthana, Sachini |
| Abstract: | The Ukraine War has had major implications for food security and food systems across the world given the important role both Russia and Ukraine play in global food, fertilizer, and energy markets. Russia and Ukraine together supply about 12% of global agricultural exports on a caloric basis and over 30% of global wheat exports.1 Fertilizer and energy markets experienced rising prices and supply disruptions as well. The Russia-Ukraine conflict heavily impacted food security in Sri Lanka which is dependent on imports from the Caspian region. The impact of this shock has been compounded for Sri Lanka which has been suffering from a severe economic crisis due to a lack of foreign reserves, a debt default, high inflation, import restrictions, and shortages of critical goods and services. These compound crises have halted Sri Lanka’s progress on economic development and its achievement of the SDGs. Progress had been significant with the share of undernourished population declining from 16.7% in 2001 to 3.4% in 2020.2 During the same period the prevalence of stunting declined from 20.6% to 16%.3 The prevalence of wasting among children under age five declined from 15.9% in 2000 to 15.1% in 2016. Sri Lanka was ranked 65th out of 116 countries on the Global Hunger Index and 77th out of 113 countries on the Global Food Security Index in 2022 suggesting the need for some improvements in the food system. The latest food security assessment by the World Food Program (WFP) notes that about 30% of the population of 22 million (6.26 Mn people) are food insecure.4 Further, most households are regularly employing food-based coping strategies such as eating less preferred and less nutritious food and reducing the amount of food they eat. Further, an estimated 200, 000 households are using emergency livelihood coping strategies that are likely to severely impact their income-generating activities and it is anticipated that more people are turning to these coping strategies as the crisis deepens. Against this backdrop, this policy brief explores the impacts of the evolving crisis in Ukraine on the nexus of poverty, agriculture, and food security in Sri Lanka and the possible avenues for mitigating the negative implica-tions of export restrictions, rising import costs, and inflation. |
| Keywords: | SRI LANKA; agriculture; armed conflicts; economic development; foreign trade; fertilizer industry; exports; food security; imports; inflation; war |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:resapn:24&r=cis |
| By: | Trotsuk Irina V. (The Russian Presidential Academy Of National Economy And Public Administration); Shagaida Nataliya I. (The Russian Presidential Academy Of National Economy And Public Administration) |
| Abstract: | The relevance of the study is explained by its design to constantly monitor the state and risks of food security in Russia, the importance of such monitoring ever increasing with the pandemic and a resulting decrease in household incomes. The objective of the study is to examine the degree to which the Russian society has achieved food security, not according to government programs and strategies of national development, but regarding the economic affordability of food for the population. The subject of the research is the Russians’ everyday food practices and their perception of personal and family risks in food consumption. By 2020, a sociological monitoring model was developed and successfully tested, which is a combination of two methods – a representative telephone survey (nationwide sampling) and ‘expert’ interviews (the longest conversations of interviewers with respondents are transcribed in order to identify explanations in respondents’ answers to the questions of the standardized formalized interview). The results of the study (sociological data) supplement the statistical and economic assessments of the possibilities and limitations of the stable functioning of the internal market given the global economy shocks. The study allows a more accurate assessment of the state of the domestic market under the rising prices and the government’s attempts to limit them. Thus, we can make the following conclusions: the Russians’ inconsistent self-assessments of food practices can be explained by two factors – Russians not only assess their past and present food-consumer practices, but also compare their life situation with those around them; before the pandemic, the food assortment began to expand, and in the difficult social-economic conditions, exacerbated by the pandemic restrictions, food became almost the only source of a sense of ‘normality’ and of bright exceptions in the routine. In recent years, Russians have developed a stable model of food consumption, primarily due to the objective factors – the expansion and strengthening of retail chains, the rise in food prices and the exhaustion of households’ self-supplying strategies. Financial constraints, i.e. economic access to food, are the main threat to the food security situation in Russia. The scientific novelty of the study is the proposed interdisciplinary nature at the theoretical level (a combination of economic and sociological approaches) and methodological triangulation (quantitative and qualitative survey methods) at the empirical level. The proposed approach and the results of its application allow to recommend that the country’s leadership abandon its calls and attempts to stop the rise in food prices, which is somewhat late and ineffective, especially under the pandemic, and focus on a differentiated approach to increasing the economic access to food, instead of punitive measures restricting price growth. |
| Keywords: | Food security, physical access to food, economic access to food, consumer practices, family budget of Russian households, sociological monitoring |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022020&r=cis |
| By: | Bojechkova A. V. (The Russian Presidential Academy Of National Economy And Public Administration); Dzhunkeev U. K. (The Russian Presidential Academy Of National Economy And Public Administration); Evseev A. S. (The Russian Presidential Academy Of National Economy And Public Administration); Iskhakova F. Ya. (The Russian Presidential Academy Of National Economy And Public Administration); Trunin Pavel V. (The Russian Presidential Academy Of National Economy And Public Administration Author-Workplace-Homepage); Sherbustanova M. E. (The Russian Presidential Academy Of National Economy And Public Administration Author-Workplace-Homepage) |
| Abstract: | The duration of monetary shocks in the economy is often explained not just by price rigidity, but also by the slow dissemination of information and the inertia of economic agents' expectations. Many methods for the information rigidity assessment are presented in the foreign scientific literature, but few such works exist in Russia. Therefore, the study of the information rigidity in the Russian economy is highly relevant. The subject of the study is information rigidity. The goal of this work is to study monetary policy in Russia, considering price rigidity and information rigidity. To achieve the goal of the study, we set the following objectives: a review of the models of imperfect information and methods of validating the hypotheses of these models’ compliance with the factual data based on a review of theoretical and empirical literature, data collection, validating the hypothesis of existence of imperfect information, obtaining quantitative estimates of information rigidity using the data for Russia. Research methods include statistical and econometric methods of time series analysis. We used data of consensus forecasts of professional analysts from Bloomberg and Interfax agencies, forecasts of the Ministry of Economic Development for the period from 2006 to 2020. Conclusions of the study: information rigidity was observed for forecasts of all macroeconomic indicators considered; the estimates of information rigidity vary for different macroeconomic variables; we also discovered a decrease in the degree of information rigidity during periods of increased instability in the economy. The results make it possible to explain the inertia in the response of macroeconomic variables to various shocks, including monetary policy shocks, and can be used in general equilibrium models. |
| Keywords: | INFORMATION RIGIDITY, PRICE RIGIDITY, IMPERFECT INFORMATION, FULL INFORMATION, RATIONAL EXPECTATION, RATIONAL INATTENTION MONETARY POLICY, ENTROPY, MENU COSTS, DYNAMIC STOCHASTIC GENERAL EQUILIBRIUM MODELS, IMPULSE RESPONSES, VAR-MODELS. |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022008&r=cis |
| By: | International Monetary Fund |
| Abstract: | France saw a robust recovery from the Covid-19 shock but is now facing the repercussions of Russia’s war in Ukraine. In 2021, output rebounded by 6.8 percent and recovered to pre-crisis levels. The recovery was broad-based and faster than in most other European countries. While France is less directly exposed to the energy shock, the war in Ukraine is dampening the recovery by denting confidence and exacerbating supply-side difficulties. Inflation has surged but remains well-below peers thanks to energy price controls and subsidies. These and other measures to support purchasing power keep the fiscal deficit elevated despite the unwinding of Covid-19 support. While capacity utilization remains below pre-crisis levels, labor market conditions have further tightened. |
| Date: | 2023–01–30 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2023/056&r=cis |
| By: | International Monetary Fund |
| Abstract: | The increase in energy and food prices after Russia’s war in Ukraine is weighing on private demand, activity, and inflation. Real GDP growth has decelerated to 2–3 percent in 2022, after recovering by 10.7 percent in 2021, and inflation increased to more than 11 percent. Growth is projected to moderately pick up to 3.5 percent in 2023, and inflation to decline to 5 percent, though these forecasts crucially depend on the assumption that international commodity prices will ease. Uncertainty remains high, with risks to the downside for growth and to the upside for inflation. |
| Date: | 2023–01–27 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2023/054&r=cis |
| By: | Alexander E. Abramov (The Russian Presidential Academy Of National Economy And Public Administration); Alexander D. Radygin (The Russian Presidential Academy Of National Economy And Public Administration); Maria I. Chernova (The Russian Presidential Academy Of National Economy And Public Administration) |
| Abstract: | The goal of this study is to develop a system of measures to increase investment activity and limit the risks of the private investors in the stock market. The object of research is the behavior of private investors in the formation of their individual portfolios. The research method includes analysis of Bloomberg’s historical data series on the return and risk of financial instruments, various methods for quantifying the investor's risk profile. The work features a comparative analysis of various approaches to assessing the individual risk profile of private investors based on analyzing the international experience. The current financial market regulation system is improving slowly and in many ways lags behind the changes in the stock market. The legal prerequisites for the accumulation of long-term savings by the population have not yet been created, the measures proposed by the regulator to limit investments and reduce risk exposure for certain categories of citizens cause serious debate in society. The relevance of the study is explained by a lack of theoretical and empirical studies of the specifics of individual investments in the domestic stock market, the behavior of private investors and the possibilities of risk management in asset allocation. The novelty of the study lies in adapting the best risk profiling practices for Russian private investors, identifying recommendations on asset allocation across all available time horizons, and demonstrating the benefits of diversification not only in the domestic but also in the global market. The main result of the work is the development of methodological approaches necessary to ensure that the generated individual portfolios of private investors match their risk profile. In addition, the main results of the work include the identified advantages of the portfolio approach, in terms of both reducing risks and increasing returns. A risk map of instruments available to a private investor has been compiled. We identified the basic rules and patterns for investing in the Russian market in the long term. The main conclusion of the work is that it is extremely important for the Russian investor to use both factor-based and widely diversified portfolios, as well as global diversification regardless of the risk profile and horizon. In the future, the development of our work aimed at studying private investment in various countries will contribute to the development of the institution of private investment in Russia. |
| Keywords: | risk profiling, private investors, private savings, investing, investor behavior, asset allocation, long-term investment, global diversification |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022032&r=cis |
| By: | Jawad Daheur (CERCEC - Centre d'études des mondes russe, caucasien et centre-européen - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Researchers have long puzzled over the clearly paradoxical nature of Russian Poland's trading pattern from the point of view of the centre-periphery model. Located on the Western edge of the Russian Empire, this territory formed a periphery under the tight political domination of Saint Petersburg but, at the same time, it was a quickly developing zone, supplying the Russian heartland with manufactured goods. Challenging the idea of a full redirection of the regional economy towards the Russian market, the article reassesses the territory's foreign trade and shows that extractive activity for Western markets had not completely disappeared. There is certainly at least one notable exception to the standard view: the timber trade, which appears to have followed a separate path compared with other rural goods and was associated with huge social and environmental costs. Made possible both by the increasing pressure from German capital and a series of political decisions by Russian rule, these massive exports were part of a new dynamic, parallel and opposite to this territory's industrialisation: the advance of a resource frontier that made Russian Poland a timber reserve for a Germany that had become the leading industrial power on the continent. |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03506042&r=cis |
| By: | Strokov Anton S (The Russian Presidential Academy Of National Economy And Public Administration); Potashnikov Vladimir Yu (The Russian Presidential Academy Of National Economy And Public Administration) |
| Abstract: | The relevance of the study is determined by the need to analyze the consequences of the concentration of livestock farms, not only from an economic point of view, but also from an environmental one. The objective of the research is to develop ways for sustainable development of animal husbandry in Russia, taking into account the possibilities of continuous growth in production and export of meat and milk, balanced by current environmental problems (growth of farm waste) and the possibilities of reducing greenhouse gas (GHG) emissions. The subject of the research is the environmental indicators characterizing the externalities arising from the production of livestock products (meat, milk, eggs). The work uses traditional scientific methods - descriptive, analytical, statistical and methods of economic and mathematical modeling. The sources of information were Russian and foreign scientific publications, official publications of regulatory documents and statistical data of state authorities of Russia, as well as foreign databases on agricultural statistics. The reported results conclude that the concentration of livestock production facilities leads to different environmental consequences. Among the leading regions specializing in livestock products, the highest concentration is in the Central Black Earth Region: the Belgorod and Kursk regions account for almost 30% of all agricultural waste in Russia. The greenhouse gas emissions were estimated using the GLOBIOM partial equilibrium model. The calculation results showed that Belgorod region has one of the lowest carbon footprint indicators in livestock production: 8 tons of СО2 equiv. per one ton of protein, which is associated with the low-carbon development of poultry farming. In other regions, which specialize in dairy and beef cattle breeding, the carbon footprint is at least twice as high, for example, in the Krasnodarsky krai; however, the indicators of waste output per unit of production, on the contrary, are lower there. Thus, the scientific novelty of the research lies in the development of scientific and analytical tools for the correct identification of local, regional and global environmental risks when assessing the efficiency of meat, milk and eggs production. So, in our study, local risks were assessed through the concentration of manure (nitrogen) elements per unit of agricultural land and cultivated area at the level of municipalities. Regional risks were assessed through the indicator of waste from agricultural products. And global risks were assessed through an indicator of greenhouse gas emissions, which also allowed us to estimate the so-called cumulative carbon footprint of each region per unit of animal protein produced. Based on the results of the study, recommendations were developed to improve statistical reporting on production waste in the agricultural sector; to differentially collect and publish data on various types of feeding of farm animals in different categories of farms, which will subsequently help to better calculate animal diets and their potential waste and greenhouse gas emissions, in order to identify the most "wasteful” and “sustainable” animal husbandry practices. |
| Keywords: | externalities, livestock production, production concentration, greenhouse gas emissions, carbon footprint, agricultural policy, environmental policy |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022035&r=cis |
| By: | International Monetary Fund |
| Abstract: | The outlook has become more challenging in recent months. While COVID-19 infections declined significantly, an outbreak of Ebola has raised new public health concerns. Moreover, the economic outlook has been negatively affected by the spillovers from the war in Ukraine and the tightening of global financial conditions. The authorities have reacted to the shocks in an appropriate manner, including through support to vulnerable households, and monetary policy tightening to contain inflation. |
| Date: | 2023–01–23 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2023/040&r=cis |
| By: | Kurakova Nataliya G. (The Russian Presidential Academy Of National Economy And Public Administration); Zinov Vladimir G. (The Russian Presidential Academy Of National Economy And Public Administration); Eremchenko Olga A. (The Russian Presidential Academy Of National Economy And Public Administration); Tsvetkova Liliya A. (The Russian Presidential Academy Of National Economy And Public Administration); Kurakov Fedor A. (The Russian Presidential Academy Of National Economy And Public Administration) |
| Abstract: | The study's relevance is determined by insufficient elaboration of the theoretical justification and methodological approaches to the use of models of state support for the venture industry. The goal of the study is to develop a theoretical basis and methodological approaches to solving the problem of increasing the investment activity of state corporations and companies with state participation in venture capital. The research subject is the mechanisms for stimulating an increase in the venture capital of state-owned companies. The work used theoretical and empirical research methods, including content analysis of scientific literature, expert assessments, case studies, analysis of expert opinions. The key sources of information are Russian and foreign scientific publications, data from public authorities, and in-depth interviews with heads of investment departments of state-owned companies. The study results include reviewing the key trends in the corporate venture industry development in foreign countries and in Russia. Recommendations have been developed to stimulate the investment into venture funds by state corporations and companies with state participation. The conducted research allows us to draw the following conclusions. The state's role in regulating and stimulating the venture capital market is becoming more and more noticeable, and state entities are increasingly becoming the main initiators of the launch of Industry 4.0 support programs. Starting in 2018, Russian state-owned companies have been actively introducing new investment and non-investment mechanisms for financing technological and innovative development; corporate accelerators have been set up in every other state-owned company. It is shown that the key condition for the technological progress of state corporations is the development of internal entrepreneurship with a planning horizon of 10 years. The following challenges are identified as the main barriers to the development of investments in the corporate venture sector on the part of state-owned companies: weak adaptation of Russian legislation to the organization of financing of high-risk projects using state budget funds; unclear legal implications for the management of state-owned companies when making decisions on venture investments due to insufficient coordination between the government institutions; the complexity of using investment partnerships, the only organizational form directly provided by law for venture investment; restrictions on cooperation with universities and research institutes. An analysis of the innovation management and venture capital investment model using the example of Rostec State Corporation has shown that innovative development programs yield positive financial and strategic results and can be successfully replicated in the Russian environment. The scientific novelty is due to a comprehensive analysis of the use of the mechanisms for increasing investment activity in state-owned companies and the identification of best practices for the establishment and operation of special units and venture funds. As a recommendation, a set of measures is proposed to stimulate large companies to innovate and promote technological development by increasing venture capital within the implementation framework of government programs. |
| Keywords: | Scientific and technological development, models of state support for the venture capital industry, large companies with state participation, corporate venture funds, investment strategies. |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022018&r=cis |
| By: | Anna Mikhaylova (The Russian Presidential Academy of National Economy and Public Administration); Evgeny Timushev (Federal research center Komi Science center of the Ural branch of the Russian Academy of Scien) |
| Abstract: | The issue of decentralization in the public administration system in Russia has acquired new urgency in the context of the 2020 crisis. Other countries of the world have faced similar new challenges. The object of the research is the system of separation of powers between regions and the center in a federal state. The purpose of the study is to determine the principles and limitations of authority delegation from higher to lower tiers (i.e. decentralization), potential benefits and prerequisites of delegation. This research provides an extensive review of the literature on decentralization around the world. Based on the analysis of findings and their synthesis, theoretical ideas are formed as to how to distribute powers within the budgetary system, as well as how decentralization and economic growth are connected. Scientific novelty of the paper lies in revealing the prospective areas of research on the problems of authority delegation and economic growth. It is established that decentralization and close interdependence of revenues and expenditures of territorial budgets promotes private sector development. At the same time, the risks of inefficiency of this model are associated with the system of intergovernmental relations aimed at minimizing the negative effects of decentralization. Decentralization and economic growth are linked by the Oates hypothesis, which states that economic growth and decentralization are positively related, since an increase in the degree of decentralization allows better implementation of public policy. The tax decentralization regime has the greatest potential, especially when the quality of public administration is high, and the principles of neutrality and fairness of taxation are maintained. At the same time, empirical assessments of this relationship are ambiguous. Several papers find a negative correlation, others claim the connection is positive or absent. In this regard, the complex nature of the relationship between decentralization and growth under the conditions f the budgetary system of the Russian Federation requires further research. |
| Keywords: | decentralization, fiscal federalism, intergovernmental fiscal relations, separation of powers, revenue sources, regional budgets, tax powers, economic growth |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022002&r=cis |
| By: | International Monetary Fund |
| Abstract: | Malta’s economy rebounded strongly from the pandemic. However, the indirect impact of Russia’s war in Ukraine, including the anticipated slowdown in the European economy, high and volatile global energy prices, rising import costs, and weakened public finances following the pandemic are weighing on the outlook. The Maltese economy is expected to slow from 6¼ percent this year to 3¼ percent in 2023. The financial system has proved to be resilient to the pandemic with ample capital and liquidity buffers. In June 2022, the Financial Action Task Force (FATF) removed Malta from its grey list of anti-money laundering and combatting the financing terrorism (AML/CFT) framework. |
| Date: | 2023–02–08 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2023/078&r=cis |
| By: | International Monetary Fund |
| Abstract: | The economy recovered swiftly from the pandemic, but Russia’s war in Ukraine has worsened the outlook given Finland’s exposures to the fallout through trade and increase in energy prices, while high inflation and rising interest rates are weighing on household purchasing power. Long-standing structural challenges—from adverse demographics and low productivity growth—remain. Tighter financial conditions will test the resilience of Finland’s large financial system: banks are well-capitalized, but vulnerable to liquidity shocks and exposed to credit risks from other Nordics and high household debt. |
| Date: | 2023–01–23 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2023/038&r=cis |
| By: | International Food Policy Research Institute (IFPRI) |
| Abstract: | Users can download time series food price data, and build graphs and tables for over 20 different food crops at our food price database webpage: https://www.ifpri.org/project/freshfood-price-analysis-papua-newguinea. The average (nominal) price of staple foods in Port Moresby was 22 percent less (in nominal terms) in the 4th quarter of 2022 compared to quarter 4 of 2021. The 2022 quarter 4 price of sweet potato and taro in Kokopo was 22 percent greater compared to the same quarter in 2021. In addition green leafy vegetables price increased, in part due to unseasonably dry weather in East New Britain. Despite a rising global food price trend in 2022 as a result of the Russia-Ukraine crisis, increasing fuel prices, and weather stress, the price of imported rice in PNG remains relatively stable, with an average annual (nominal) price variation of 10 percent across 4 markets. In December 2022 a kilo of rice (Roots rice) cost 4.03 PGK/kg, compared to 5.07 PGK/kg in Port Moresby. |
| Keywords: | PAPUA NEW GUINEA, OCEANIA, prices, food prices, markets, sweet potatoes, taro, leaf vegetables, inflation |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:pngfpb:january2023&r=cis |
| By: | S.G. Belev (The Russian Presidential Academy Of National Economy And Public Administration); A.G. Efremov (The Russian Presidential Academy Of National Economy And Public Administration); A.V. Kireeva (The Russian Presidential Academy Of National Economy And Public Administration); A.B. Zolotareva (The Russian Presidential Academy Of National Economy And Public Administration); E.A. Leonov (The Russian Presidential Academy Of National Economy And Public Administration); E.O. Matveev (The Russian Presidential Academy Of National Economy And Public Administration); I.A. Sokolov (The Russian Presidential Academy Of National Economy And Public Administration); A.N. Komarnitskaya (The Russian Presidential Academy Of National Economy And Public Administration); O.V. Suchkova. (The Russian Presidential Academy Of National Economy And Public Administration) |
| Abstract: | Since 2021 the Russian tax policy relies on greater use of progressive taxation in order to mitigate income inequality. In fact, personal income tax scale has been reformed; however, this measure is not enough to solve the problem because of disparities between rich and poor to be origin from wealth inequality to a large extent. So, there is a need to employ non-standard, innovative approach based on a reform of property taxation, such as the introduction of a wealth tax. The need to mitigate inequality determines the relevance of the topic, while the approach to its development determines its scientific novelty. The authors set the goal of increasing the fairness of taxation by shifting fiscal burden to wealth instead of income or luxury itself, with regard to Russian-specific environments. The goal incorporates, among other things, such objectives as analyzing the peculiarities of the Russian property taxation practice, identifying shortcomings in the design of taxes on movable and immovable property, summarizing the best foreign practice of wealth taxation and forming a list of constructive recommendations when using scientific methods of analysis, comparison, analogy, induction and deduction. Upon studying a wide range of information sources including statistical data, economic papers and relevant regulatory framework, it was concluded that property taxation contributes very little to personal income equalization and generally has weak effect on the Russian tax system progressivity; at the same time, the most promising scenario for solving the problem of inequality by tax means is to impose a wealth tax, which would be charged only on real estate, without affecting other assets such as bank deposits, securities, and vehicles. The recommendations refer to the applied part of the paper and are aimed at forming a tax reform procedure harmonized with the interests of taxpayers and adapted to the current real property tax design. The paper substantiates that at the initial stage of wealth taxation, priority should be given to the effectiveness of tax administration, which implies the continuity of many elements of the luxury tax in the wealth tax, including personal tax-free allowance at 300 million rubles and flat tax rate of 2%. However, tax base should be reformed and determined by the sum of cadastral values of individual immovable assets. Along with this, real property wealth tax is supposed to increase federal tax revenues (not municipal ones). The prospects of research in this field topic are related to the use of digital technologies in the administration of wealth tax that allow a reduction of compliance costs and preventing tax evasion. |
| Keywords: | ability-to-pay principle, immovable property, income inequality, property taxation, real property tax, tax fairness, tax progressivity, wealth tax |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022028&r=cis |
| By: | International Monetary Fund |
| Abstract: | Despite the authorities’ very strong policy response, another drought and the economic spillovers from Russia’s invasion of Ukraine have taken a toll on Morocco’s economy and ignited inflationary pressures. Assuming a return to normal agricultural seasons, stabilization of external economic conditions, and continued progress on the authorities’ rich structural reform agenda, economic activity should rebound in 2023 and stabilize around 3½ percent over the medium term. Inflation is projected to have peaked in 2022 and to start falling in 2023 as the commodity price shock dissipates and the central bank reduces monetary policy accommodation. The negative terms-of-trade shock widened the trade deficit in 2022, but Morocco’s external position is projected to improve from 2023 onwards, also thanks to strong remittances and tourism inflows. |
| Date: | 2023–01–24 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2023/042&r=cis |
| By: | S.P. Kovalev (The Russian Presidential Academy Of National Economy And Public Administration); Yashina E.R. (The Russian Presidential Academy Of National Economy And Public Administration); Lukichev K.E. (The Russian Presidential Academy Of National Economy And Public Administration); Turzin P.S. (The Russian Presidential Academy Of National Economy And Public Administration); Generalov A.V. (The Russian Presidential Academy Of National Economy And Public Administration Author-Workplace-Homepage); Evseev A.S (The Russian Presidential Academy Of National Economy And Public Administration Author-Workplace-Homepage) |
| Abstract: | The analysis of international experience has shown that occupational health management of workers in advanced countries is considered as an innovative technology that improves employee motivation and boosts the business condition of the enterprise. Based on the results of studying the organization of operations at life support and continuous cycle enterprises during the COVID-19 pandemic, a methodology for managing the health of workers at these enterprises is substantiated, including the development of various regulatory documents, a set of regulations and methodological recommendations. Based on the results of a survey conducted by the executive authorities of 38 constituent units of the Russian Federation in the field of healthcare, intensifying the work of these bodies was found to be crucial to solving an important socio-medical problem of developing a support system for continuous cycle enterprises in the conditions of increased emergency preparedness in case of a pandemic, primarily when implementing national projects "Healthcare", "Demographics" and federal and regional projects included in them. In line with the UN Sustainable Development Goal 3 "Ensure healthy lives and promote well-being for all at all ages" and the federal project "Building a motivation system promoting a healthy lifestyle, including healthy nutrition and rejection of bad habits", it is necessary to increase and test the level of knowledge of employees of enterprises on the principles of a healthy lifestyle, preservation of environmental well-being; prevention of the new coronavirus infection COVID-19 |
| Keywords: | enterprises, employees, management, occupational health, methodology, technologies. |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022009&r=cis |
| By: | Kurakova Nataliya G. (Center for Scientific and Technical Expertise); Zinov Vladimir G. (Center for Scientific and Technical Expertise, Dr. Sci.); Eremchenko Olga A. (Center for Scientific and Technical Expertise); Tsvetkova Liliya A. (Center for Scientific and Technical Expertise); Kurakov Fedor A. (Federal research center Komi Science center of the Ural branch of the Russian Academy of Science) |
| Abstract: | The study's relevance is determined by insufficient elaboration of the theoretical justification and methodological approaches to the use of models of state support for the venture industry. The goal of the study is to develop a theoretical basis and methodological approaches to solving the problem of increasing the investment activity of state corporations and companies with state participation in venture capital. The research subject is the mechanisms for stimulating an increase in the venture capital of state-owned companies. The work used theoretical and empirical research methods, including content analysis of scientific literature, expert assessments, case studies, analysis of expert opinions. The key sources of information are Russian and foreign scientific publications, data from public authorities, and in-depth interviews with heads of investment departments of state-owned companies. The study results include reviewing the key trends in the corporate venture industry development in foreign countries and in Russia. Recommendations have been developed to stimulate the investment into venture funds by state corporations and companies with state participation. The conducted research allows us to draw the following conclusions. The state's role in regulating and stimulating the venture capital market is becoming more and more noticeable, and state entities are increasingly becoming the main initiators of the launch of Industry 4.0 support programs. Starting in 2018, Russian state-owned companies have been actively introducing new investment and non-investment mechanisms for financing technological and innovative development; corporate accelerators have been set up in every other state-owned company. It is shown that the key condition for the technological progress of state corporations is the development of internal entrepreneurship with a planning horizon of 10 years. The following challenges are identified as the main barriers to the development of investments in the corporate venture sector on the part of state-owned companies: weak adaptation of Russian legislation to the organization of financing of high-risk projects using state budget funds; unclear legal implications for the management of state-owned companies when making decisions on venture investments due to insufficient coordination between the government institutions; the complexity of using investment partnerships, the only organizational form directly provided by law for venture investment; restrictions on cooperation with universities and research institutes. An analysis of the innovation management and venture capital investment model using the example of Rostec State Corporation has shown that innovative development programs yield positive financial and strategic results and can be successfully replicated in the Russian environment. The scientific novelty is due to a comprehensive analysis of the use of the mechanisms for increasing investment activity in state-owned companies and the identification of best practices for the establishment and operation of special units and venture funds. As a recommendation, a set of measures is proposed to stimulate large companies to innovate and promote technological development by increasing venture capital within the implementation framework of government programs. |
| Keywords: | Scientific and technological development, models of state support for the venture capital industry, large companies with state participation, corporate venture funds, investment strategies. |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022003&r=cis |
| By: | Vladimir V. Gromov (The Russian Presidential Academy Of National Economy And Public Administration); Nikolai S. Milogolov (The Russian Presidential Academy Of National Economy And Public Administration) |
| Abstract: | Since 2021 the Russian tax policy relies on greater use of progressive taxation in order to mitigate income inequality. In fact, personal income tax scale has been reformed; however, this measure is not enough to solve the problem because of disparities between rich and poor to be origin from wealth inequality to a large extent. So, there is a need to employ non-standard, innovative approach based on a reform of property taxation, such as the introduction of a wealth tax. The need to mitigate inequality determines the relevance of the topic, while the approach to its development determines its scientific novelty. The authors set the goal of increasing the fairness of taxation by shifting fiscal burden to wealth instead of income or luxury itself, with regard to Russian-specific environments. The goal incorporates, among other things, such objectives as analyzing the peculiarities of the Russian property taxation practice, identifying shortcomings in the design of taxes on movable and immovable property, summarizing the best foreign practice of wealth taxation and forming a list of constructive recommendations when using scientific methods of analysis, comparison, analogy, induction and deduction. Upon studying a wide range of information sources including statistical data, economic papers and relevant regulatory framework, it was concluded that property taxation contributes very little to personal income equalization and generally has weak effect on the Russian tax system progressivity; at the same time, the most promising scenario for solving the problem of inequality by tax means is to impose a wealth tax, which would be charged only on real estate, without affecting other assets such as bank deposits, securities, and vehicles. The recommendations refer to the applied part of the paper and are aimed at forming a tax reform procedure harmonized with the interests of taxpayers and adapted to the current real property tax design. The paper substantiates that at the initial stage of wealth taxation, priority should be given to the effectiveness of tax administration, which implies the continuity of many elements of the luxury tax in the wealth tax, including personal tax-free allowance at 300 million rubles and flat tax rate of 2%. However, tax base should be reformed and determined by the sum of cadastral values of individual immovable assets. Along with this, real property wealth tax is supposed to increase federal tax revenues (not municipal ones). The prospects of research in this field topic are related to the use of digital technologies in the administration of wealth tax that allow a reduction of compliance costs and preventing tax evasion. |
| Keywords: | ability-to-pay principle, immovable property, income inequality, property taxation, real property tax, tax fairness, tax progressivity, wealth tax |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022026&r=cis |
| By: | Kuznetsova P.О. (The Russian Presidential Academy Of National Economy And Public Administration); Seredkina Е.А (The Russian Presidential Academy Of National Economy And Public Administration); Khasanova R.R (The Russian Presidential Academy Of National Economy And Public Administration) |
| Abstract: | In 2020-2021, the new coronavirus pandemic significantly changed the global demographic situation. Most countries of the world faced a significant increase in mortality. The spread of COVID-19 presented the greatest challenge in recent history for the health systems, as well as the social sphere and the economy of most states and has influenced the increase in the mortality in 2020-2021 in almost every country. The objective of this study is to analyze the dynamics of population mortality in 2020-2021 (January-August) and the impact of coronavirus infection on mortality and life expectancy of the Russian population. Assessing the impact of COVID-19 by directly counting the number of deaths due to coronavirus infection has its limitations: the increase in the total number of deaths significantly exceeds the official mortality from coronavirus infection. In this regard, when determining mortality from coronavirus, indicators of excess mortality and changes in life expectancy are used. Excess mortality is one of the main indicators characterizing the direct and indirect impact of the spread of COVID-19 on the population mortality and the effectiveness of different countries’ efforts to mitigate the consequences of COVID-19 pandemic. The paper analyzes the operational information on the population mortality for 8 months of 2021 and detailed data for 2020 as a whole. The authors note that the decrease in life expectancy in 2020 is associated with an increase in mortality from COVID-19, circulatory diseases, respiratory diseases, digestive diseases, external and other causes in middle and older age groups. |
| Keywords: | mortality, coronavirus infection, life expectancy, epidemic, pandemic, excess mortality, mortality rate |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022029&r=cis |
| By: | International Monetary Fund |
| Abstract: | Volatile commodity prices and a tightly managed exchange rate (ER) have led to boom and bust cycles with significant impacts on the public and financial sectors. While the previous Extended Credit Facility (ECF) arrangement (December 2017—March 2021) has helped maintain macroeconomic stability, the pandemic has delayed structural reform implementation and widened the gap to reach the Sustainable Development Goals (SDGs). In addition, surging international commodity prices since the start of Russia’s war in Ukraine have deteriorated the external and fiscal balances and led to inflationary pressures and food insecurity. In March 2021, the authorities requested a successor arrangement to support accelerated implementation of their national development strategy, help increase social and infrastructure spending, and improve governance and the business environment. |
| Date: | 2023–02–03 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2023/073&r=cis |
| By: | Mudarisov A.A. (The Russian Presidential Academy Of National Economy And Public Administration); Sinyagin Yu.V. (The Russian Presidential Academy Of National Economy And Public Administration) |
| Abstract: | The relevance of this research is primarily due to the intensive development of technologies for remote work with personnel. Interest in digital tools for the assessment and development of human resources is increasing both in business and in the field of public service. The growing trend in recent years to search and select the most promising personnel through open management competitions has formed a request for methodological and technological modernization of already proven evaluation tools and their adaptation to the specific conditions of such personnel projects. The purpose of the study is to study the possibilities and prospects of using interactive digital technologies for evaluating personal, professional and managerial resources within the framework of organizing and conducting managerial and personnel projects (competitions). The object of the study is personal and professional resources and psychological qualities of managers participating in management competitions. Research methods: general scientific, psychological and mathematical; analysis of literary sources, testing, statistical data processing. As part of the research work, an extensive analysis of the modern world practice of using digital interactive technologies in the field of personnel management was carried out. The key trends in the use of interactive digital technologies are identified and described. An interactive digital methodology of personal and professional diagnostics in the format of a test to assess the respondent's level of knowledge in the field of public administration in the Russian Federation has been developed and tested. Based on the developed tools, an empirical study was conducted on a sample of more than three and a half thousand managers participating in the management competition. According to the results of an empirical study, significant differences in personal and professional characteristics were revealed between participants who demonstrated different levels of knowledge. The conducted empirical research allows us to draw conclusions about the expediency of using knowledge tests in the context of personal and professional diagnostics. A variant of creating a methodology for assessing the level of claims based on the developed knowledge test is proposed. Recommendations on the use of an interactive format for the implementation of digital methods for assessing managerial and personal-professional resources in the context of mass remote assessment are formulated. The prospects and possibilities of using such digital assessment tools in the framework of projects for the development of state personnel policy are outlined. |
| Keywords: | Interactive digital assessment technologies, personal and professional diagnostics, management and personnel projects |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w2022014&r=cis |
| By: | Tim Friedhoff (Masaryk University, Faculty of Economics and Administration, Department of Finance); Cam-Duc Au (Masaryk University, Faculty of Economics and Administration, Department of Finance); Philippe Krahnhof (Isf – Institute for Strategic Finance of FOM Hochschule) |
| Abstract: | It has already been literarily proven that the past shows a statistical correlation between crude oil prices and certain industries that are influenced by its volatility. In this context, the Russian war in particular leads to reassessable reactions of these industries. In this paper, we investigate this influence during the war period and compare the results with pre-war calculations for 533 companies from 12 industries. Therefore, we use a recursive SVAR model, based on which we illustrate our results graphically with the impulse-response function. We find that the shock responses of industries to Brent volatilities during the war period have a high explanatory power, but we find different results for the individual industries. While oil-producing industries react positively to positive shocks (more so during the war period), the impact on oil-producing industries is rather small, but negative. Oil & Gas Drilling shows an increase of 10% and Tires & Rubber Products a decrease of 8%. Also other industries show surprising results. |
| Keywords: | Oil price shock, Oil industries, SVAR model, Impulse response function |
| JEL: | C22 Q11 |
| Date: | 2023–02 |
| URL: | http://d.repec.org/n?u=RePEc:mub:wpaper:2023-04&r=cis |
| By: | International Monetary Fund |
| Abstract: | The IMF Board approved a 36-month ECF arrangement for Cabo Verde in June 2022. The program aims to: strengthen public finances and put debt on a downward path; reduce fiscal risks from public enterprises and improve their financial management; modernize the monetary policy framework and improve resilience of the financial system; and raise the growth potential. Cabo Verde was hit hard by the COVID-19 pandemic. The recovery is now underway, and the economy has recorded five consecutive quarters of growth, supported by a rebound in tourism. The fiscal position has improved, the debt-to- GDP ratio is on a downward path, reserves are within the target range, and the financial sector remains resilient. However, spillovers from Russia’s invasion of Ukraine have led to double-digit increases in energy and food prices. |
| Date: | 2023–01–24 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2023/044&r=cis |
| By: | Lorenzo Caliendo; Luca David Opromolla; Fernando Parro; Alessandro Sforza |
| Abstract: | European countries experienced a large increase in labor supply due to the influx of Ukrainian refugees after the 2022 Russia invasion. We study its dynamic effects in a spatial model with forward-looking households of different skills, trade, and endogenous capital accumulation. We find that real GDP increases in Europe in the long term, with large distributional effects across countries and skill groups. In the short run, an increase in the supply of labor strains the use of capital structures that takes time to build. Over time, countries that build capital structures increase output, resulting in potential long run benefits. |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_10236&r=cis |
| By: | Mikhail Andreyev (Bank of Russia, Russian Federation) |
| Abstract: | Does a stabilization fiscal rule based on long-term resource prices and the formation of a sovereign wealth fund effectively reduce volatility of output, inflation, and exchange rate? Given that the previous fiscal rule in Russia has been violated since the beginning of 2022, what might the new fiscal rule look like and will it be effective? We tried to answer these questions using a dynamic stochastic general equilibrium model. A study shows that there are a number of economic parameters and types of fiscal rules under which the introduction of a mechanism for smoothing budget expenditures does not lead to a decrease in the volatility of some macroeconomic indicators. We have found that cases, when the introduction of a smoothing mechanism does not lead to a decrease in the volatility of output and the exchange rate, are rare and economically interpretable. As for the effect of the fiscal rule on inflation volatility, it turns out that it depends on many parameters such as such the design of the budget rule, the duration of price and wage contracts, and the presence of capital control. The fiscal rule, which operated until 2022 and used an external sovereign wealth fund, proved to be the most effective for stabilization purposes. In the new reality, with the impossibility of accumulating external reserves, the rule that saves additional oil and gas revenues within the country and uses the debt market to smooth budget revenues turned out to be the most effective and feasible. |
| Keywords: | DSGE model, fiscal rule, inflation, exchange rate pass-through, business cycle, commodity prices, fiscal policy, monetary policy |
| JEL: | D58 E47 E62 E63 |
| Date: | 2022–12 |
| URL: | http://d.repec.org/n?u=RePEc:bkr:wpaper:wps107&r=cis |
| By: | Lingens, Jörg; Werthschulte, Madeline |
| Abstract: | Der russische Angriffskrieg auf die Ukraine hat nicht nur direktes Leid verursacht, sondern auch die europäischen Energiemärkte beeinträchtigt. Die Kostenexplosionen sowohl im Gas- als auch im Strommarkt stellen eine massive Belastung der Verbraucherinnen und Verbraucher in Deutschland dar. Die Großhandelspreise für Gas sind in der Spitze um 400%, für Strom um 200% gestiegen. Um diese Kostensteigerungen abzufangen, hat die Bundesregierung die Gas- und Strompreisbremse auf den Weg gebracht. Kern dieser ist die Kompensation der gestiegenen Kosten, ohne die Sparanreize höherer Preise zu verdrängen. Zur direkten Entlastung wurde weiterhin die Dezemberhilfe umgesetzt. Mit dieser Maßnahme wurde der Abschlag für Gasverbrauch im Monat Dezember bezahlt. Welche Erwartungen haben deutsche Haushalte bezüglich der gestiegenen Energiekosten, und wie werden die Maßnahmen der Bundesregierung eingeschätzt? Diese Fragen untersuchen Forschende von der Westfälischen-Wilhelms Universität Münster und dem ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung in Mannheim. Dazu wurden im November 2022 etwa 400 Kundinnen und Kunden des Stromvergleichsportals Stromauskunft.de hinsichtlich ihrer Einschätzungen der Entwicklungen im Energiemarkt und ihrer geplanten Reaktionen befragt. Die Umfrage zeigt ein problematisches Gleichgewicht. Die befragten Haushalte unterschätzen die gestiegenen Kosten und werden somit möglicherweise ihren Energieverbrauch nicht ausreichend einschränken. Dieses Ergebnis ist insbesondere mit dem Einsparen von Gas als zentralen Baustein der Strategie der Bundesregierung sehr bedenklich. Auf der anderen Seite haben die Haushalte wenig Zutrauen in die Wirksamkeit der Maßnahmen der Bundesregierung. |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewpbs:12023&r=cis |
| By: | - |
| Abstract: | The economies of the subregion were hard hit by the COVID-19 pandemic, particularly those dependent on tourism. As a result, the Caribbean has seen a reversal of the hard-won gains achieved in growing their economies and reducing unemployment and inequality. The inflation stemming from pandemic supply chain disruption, which has been exacerbated by the war in Ukraine, has made the sustained uptick in economic performance beyond pre-pandemic levels unlikely, notwithstanding strong growth estimates for 2021 and 2022. The last two years have taught the region that continued ‘business as usual’ is no longer an option for advancing sustainable development. As such, recovery and repositioning of the economies must take place in all sectors for the subregion to thrive. |
| Keywords: | DESARROLLO ECONOMICO, DESARROLLO SOSTENIBLE, DESARROLLO SOCIAL, CRECIMIENTO ECONOMICO, RESILIENCIA, OBJETIVOS DE DESARROLLO SOSTENIBLE, COVID-19, EPIDEMIAS, DESASTRES NATURALES, INFLACION, INVERSION EXTRANJERA DIRECTA, PLANIFICACION DEL DESARROLLO, ESTRATEGIAS DEL DESARROLLO, AJUSTE ESTRUCTURAL, FINANCIACION DEL DESARROLLO, FINANCIACION, ALIVIO DE LA DEUDA, CONVERSIONES DE LA DEUDA, ADAPTACION AL CAMBIO CLIMATICO, FONDOS PARA IMPREVISTOS, CARICOM, ESTADOS PEQUEÑOS, PEQUEÑOS ESTADOS INSULARES EN DESARROLLO, ELABORACION DE POLITICAS, RECOMENDACIONES, ECONOMIC DEVELOPMENT, SUSTAINABLE DEVELOPMENT, SOCIAL DEVELOPMENT, ECONOMIC GROWTH, RESILIENCE, SUSTAINABLE DEVELOPMENT GOALS, COVID-19, EPIDEMICS, NATURAL DISASTERS, INFLATION, FOREIGN DIRECT INVESTMENT, DEVELOPMENT PLANNING, DEVELOPMENT STRATEGIES, STRUCTURAL ADJUSTMENT, DEVELOPMENT FINANCE, FINANCING, DEBT RELIEF, DEBT CONVERSIONS, CLIMATE CHANGE ADAPTATION, CONTINGENCY FUNDS, CARICOM, SMALL STATES, SMALL ISLAND DEVELOPING STATES, POLICY-MAKING, RECOMMENDATIONS |
| Date: | 2023–01–02 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col095:48657&r=cis |
| By: | Stanislav Levytskyi; Oleksandr Gneushev; Vasyl Makhlinets |
| Abstract: | The problem of determining the value of statistical life in Ukraine in order to find ways to improve it is an urgent one now. The current level of value is analyzed, which is a direct consequence of the poor quality of life of a citizen, hence his low level. The description of the basic theoretical and methodological approaches to the estimation of the cost of human life is given. Based on the analysis, a number of hypotheses have been advanced about the use of statistical calculations to achieve the modeling objectives. Model calculations are based on the example of Zaporozhye Oblast statistics for 2018-2019. The article elaborates the approach to the estimation of the economic equivalent of the cost of living on the basis of demographic indicators and average per capita income, and also analyzes the possibilities of their application in the realities of the national economy. Using Statistica, the regression equation parameters were determined for statistical data of population distribution of Zaporizhzhia region by age groups for 2018. The calculation parameters were also found using the Excel office application, using the Solution Finder option to justify the quantitative range of metric values. It is proved that the proposed approach to modeling and calculations are simpler and more efficient than the calculation methods proposed earlier. The study concluded that the value of statistical life in Ukraine is significantly undervalued. |
| Date: | 2023–02 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2302.03261&r=cis |
| By: | Artuc, Erhan (World Bank); Gomez-Parra, Nicolas (Inter-American Development Bank); Onder, Harun (World Bank) |
| Abstract: | Measuring the economic impact of a war is a daunting task. Common indicators like casualties, infrastructure damages, and gross domestic product effects provide useful benchmarks, but they fail to capture the complex welfare effects of wars. This paper proposes a new method to estimate the welfare impact of conflicts and remedy common data constraints in conflict-affected environments. The method first estimates how agents regard spatial welfare differentials by voting with their feet, using pre-conflict data. Then, it infers a lower-bound estimate for the conflict-driven welfare shock from partially observed post-conflict migration patterns. A case study of the conflict in Eastern Ukraine between 2014 and 2019 shows a large lower-bound welfare loss for Donetsk residents equivalent to between 7.3 and 24.8 percent of life-time income depending on agents' time preferences. |
| Keywords: | conflict, revealed-preferences, internally displaced people |
| JEL: | D74 J61 |
| Date: | 2023–01 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp15900&r=cis |
| By: | International Monetary Fund |
| Abstract: | Haiti is faced with many difficulties, which have been worsened by higher food and fuel prices stemming from Russia’s war in Ukraine. Because of this global shock and a deterioration of the domestic security situation, the economy has become even more fragile, and the macroeconomic situation and outlook are more challenging than in June 2022, when the Staff Monitored Program was approved by IMF Management. In line with global trends, growth has been weaker than expected and inflation higher. Despite the more difficult macroeconomic situation and downside risks, recent data and progress on structural reforms suggest that the authorities are making meaningful efforts to ease the country’s multiple challenges. |
| Date: | 2023–01–25 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2023/048&r=cis |
| By: | Nawawi, Ibnu |
| Abstract: | Kondisi ekonomi dunia pada tahun 2023 akan memasuki masa resesi. Resesi adalah kondisi ekonomi sebuah negara yang sedang memburuk. Ditandai dengan adanya penurunan produk domestik bruto (PDB), meningkatnya pengangguran, serta pertumbuhan ekonomi riil bernilai negatif selama dua kuartal berturut-turut (OJK). Negara Indonesia saat ini tengah mewaspadai kenaikan suku bunga yang berpotensi menimbulkan gejolak pasar keuangan (Srimulyani, .2022). Kondisi ekonomi diberbagai negara telah mengalami tekanan inflasi global akibat kenaikan suku bunga yang begitu cepat. Selain inflasi beberapa pemicu terjadinya resesi pada 2023 mendatang diantaranya adalah after pandemic covid 19, perang Ukraina-Rusia yang mempengaruhi suplai bahan impor yang akhirnya memperngaruhi rantai pasok ekonomi global, dan terakhir kenaikan suku bunga bank yang begitu tinggi. Di Indonesia sendiri potensi ancaman resesi bagi perusahaan maupun dimasyarakat harus dipersiapkan seawal mungkin. Hal ini dilakukan untuk mencegah dampak yang berkepanjangan akibat resesi itu sendiri |
| Date: | 2023–01–22 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:69kgv&r=cis |
| By: | International Monetary Fund |
| Abstract: | This report reviews the Personal Income Tax in Republic of Armenia and identifies policy and administration options to support the introduction of a Universal PIT Declaration, as well as enhance the PIT’s revenue mobilization and equity. We discuss improvements of the PIT’s tax incentives, with a focus on the mortgage interest tax credit, and opportunities to make the PIT more progressive while preserving its revenue mobilization performance. Best practice administrative solutions are presented to facilitate the introduction of the Universal Declaration, including prefilling of information and organizational issues. |
| Keywords: | Personal income tax universal income declaration tax incentives |
| Date: | 2023–01–30 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2023/060&r=cis |