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on Central and Western Asia |
| By: | Vladimir Komarov (Russian Presidential Academy of National Economy and Public Administration); Pavel Pavlov (Russian Presidential Academy of National Economy and Public Administration); V. Kotsubinskiy (Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | The paper presents a comprehensive analysis of the institutional barriers innovative development of Russia's economy. We consider the role of institutions in innovative development from the standpoint of modern theories of innovation, analyzed the impact of informal institutions on innovation dynamics explored the possibility of implementing institutional changes as a mechanism removal of institutional barriers. Finally, conclusions are offered for Russian innovation policy in the medium term. |
| Keywords: | institutional barriers to innovative development of Russian economy |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:37&r=cwa |
| By: | Aurelio Volpe (CSIL Centre for Industrial Studies) |
| Abstract: | CSIL has been studying the kitchen furniture market in Russia and Central Eastern Europe for almost 10 years and for the second time published a special report on the Russian kitchen furniture market. This edition of the Report analyses production, distribution, consumption, trade, competition for one or the most challenging markets for this sector, providing kitchen furniture production and consumption statistics and trends, as well as import and export data. The survey involved collecting information from approximately 100 sector companies either through active participation (direct replies to an interview or completion of a questionnaire) or from company balance sheets, figures and estimates. Information on the competitive system include sales data and market shares of 70 among the top manufacturers in this area (Russian, German, Italian kitchen furniture players). Highlights on distribution channels are given. The Report shows also a wide range of data on macro-economic indicators (new houses, weddings...) and appliance data. The report covers both kitchen furniture and the built-in appliances sold through this channel. A list of 200 among the most important retailers selling kitchen furniture in Russia, (from middle to luxury end) and an address list of the major players in the kitchen furniture industry in Russia are included. |
| JEL: | L11 L22 L68 L81 |
| Date: | 2013–05 |
| URL: | http://d.repec.org/n?u=RePEc:mst:csilre:s25ru&r=cwa |
| By: | Yuri Bobylev (Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | The paper deals with the global experience of taxation of extractive industry, including both the basic principles and practice of taxation identifying the main groups of countries with differing levels of economic development: countries with developed market economies, developing countries and countries in transition economy. Identifies the key trends in the taxation of extractive industry, exploring the possibilities of application of international experience in Russia, including the possibility of imposing a special tax on additional income and cancellations export duties. Given the international experience makes proposals for improvement of the Russian system of taxation of extractive industry. |
| Keywords: | taxation |
| JEL: | H2 |
| Date: | 2013–06 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:2&r=cwa |
| By: | Sheng, Liugang (Chinese University of Hong Kong); Yang, Dennis Tao (University of Virginia) |
| Abstract: | This paper presents theory and evidence showing that institutional reforms in developing countries can effectively expand their product varieties in export. Our model demonstrates that relaxing foreign ownership controls and improving contract enforcement can induce multinational companies to produce new products in host developing countries, and that a combination of the two reforms has an amplifying effect on the introduction of product varieties. Consistent with these theoretical predictions, we find empirically that ownership liberalization and judicial quality played an important role in raising the extensive margin of processing exports in China for the period of 1997-2007. |
| Keywords: | export variety, ownership structure, contract environment, processing trade, policy reform, China |
| JEL: | D23 F14 L22 |
| Date: | 2013–09 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp7611&r=cwa |
| By: | Michael Wyrwich (School of Economics and Business Administration, Friedrich-Schiller-University Jena) |
| Abstract: | Previous research on market economies characterized by stable framework conditions shows that several regional factors determine start-up activity. Not much is known about what drives entrepreneurship in unstable environments characterized by significant institutional changes that affect the availability of entrepreneurial opportunities. To fill this gap, this paper focuses on post- communist regions in which start-up activity was basically nonexistent under socialism but significantly more in evidence after the institutional shock of introducing a market economy. It is argued and shown that the allocation of talent into productive entrepreneurship is higher in areas abundantly endowed with individuals who have a relatively high ability to detect viable entrepreneurial opportunities, as indicated by their qualification, and in regions home to a population that is characterized by a high alertness toward opportunities, as indicated by remnants of an entrepreneurial culture that pre- dates socialism. How institutional context affects entrepreneurship over the course of transition is reflected by the negative relationship between urbanization and entrepreneurship that presumably has to do with ill-devised socialist urban planning policies. The regional application of the theory on institutions and entrepreneurship outlined in this paper shows that an entrepreneurial rebound after an adverse large-scale shock accompanied by massive structural change and economic dislocation is most pronounced in areas with a strong human capital basis and a regional culture that favors entrepreneurship. |
| Keywords: | Entrepreneurship, regional knowledge, transition |
| JEL: | L26 R1 P25 |
| Date: | 2013–09–19 |
| URL: | http://d.repec.org/n?u=RePEc:jrp:jrpwrp:2013-037&r=cwa |
| By: | Alexander Knobel (Russian Presidential Academy of National Economy and Public Administration); Ilya Sokolov (Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | Part of the methodical approaches to the selection and justification priorities and the optimal level of public expenditure in the Russian Federation on the basis of an empirical relationship between the amount of budget financed and effectiveness of their use. |
| Keywords: | public expenditures |
| Date: | 2013–05 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:25&r=cwa |
| By: | A. Zolotareva (Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | This paper analyzes the role of precedent and judicial decisions of general sources with Russian law before Peter the Great to the present day, presented by the author opinion on the relevance of the conventional division of legal systems Anglo-Saxon and Continental. The author assesses the tendency to expand law-making powers of the courts in modern Russia through the creation of Constitutional Court's case-law and the actual implementation of the system in arbitration proceedings. |
| Keywords: | justice |
| JEL: | D6 |
| Date: | 2013–06 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:3&r=cwa |
| By: | Majeed, Dr. Muhammad Tariq |
| Abstract: | The purpose of this study is to examine the impact of financial and economic development on cross-country income inequality using a panel data set from 50 low-income developing counties over a long period 1970-2008. The results show that financial development helps in reducing inequalities, however a non-monotonic relationship between financial development and inequality does not hold. The study finds a non-monotonic relationship between inequality and level of economic development, thus this study supports Kuznets inverted-U hypothesis. The government emerges as a major player in reducing income inequalities as its role is significant in all models. Policy makers should primarily focus on achieving the higher levels of economic development to reduce increasing inequalities. Since financial development, reduces inequalities irrespective of its level, policy makers need to focus more on improvements in financial reforms. |
| Keywords: | Inequality; Financial Development; Government; Developing Countries |
| JEL: | C23 D31 E4 E51 H10 |
| Date: | 2013–09–30 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:50296&r=cwa |
| By: | H. Lehmann; A. Zaiceva |
| Abstract: | This paper takes stock of informal employment in Russia analyzing its incidence and determinants. Using the regular waves and an informality supplement of the Russian Longitudinal Monitoring Survey (RLMS) it develops several measures of informal employment and demonstrates that the incidence varies widely across the different definitions. We also show that the determinants of informal employment are roughly stable across the different measures: workers who are males, relatively young, unskilled and employed in construction and trade and related services have a higher likelihood to have an informal job. We also take a look at the issue of labor market segmentation along the informal-formal divide by estimating an informal-formal wage gap at the means and across the entire wage distributions. We find only weak evidence for labor market segmentation in Russia when estimating an informal-formal wage gap for salaried workers at the mean. The results of quantile regressions show a wage penalty in the lower half of the distribution and no gap in the upper half for informal employees. In contrast, informal self-employed and entrepreneurs have conditional mean wages that are higher than the mean wages for the formally employed. Across the entire wage distribution, however, we find a negative wage gap in the lowest quartile and a strongly positive wage gap in the highest quartile, pointing to a segmented informal sector with a lower free entry tier and an upper rationed tier. |
| JEL: | J31 J40 P23 |
| Date: | 2013–09 |
| URL: | http://d.repec.org/n?u=RePEc:bol:bodewp:wp903&r=cwa |
| By: | Satti, Saqlain Latif; Farooq, Abdul; Shahbaz, Muhammad |
| Abstract: | This present study investigates the relationship between natural resource abundance and economic growth in Venezuelan economy. We have applied the ARDL bounds testing approach to cointegration developed by Pesaran et al. (2001) to examine long run relationship between the variables. The VECM Granger causality is applied to test the direction of causality between the variables. The present study covers the period of 1971-2011. Our empirical evidence indicated that variables are found to be cointegrated. The results confirm that natural resource abundance impedes economic growth. Financial development, capital stock and trade openness enhance economic growth. The feedback hypothesis is also found between natural resource abundance and economic growth. |
| Keywords: | natural resource abundance, economic growth, cointegration |
| JEL: | C3 |
| Date: | 2013–09–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:50150&r=cwa |
| By: | Georgy Zadonsky (Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | In January-October 2012, entities of all the forms of ownership built 476,500 apartments with the total floorspace of 40.1m sq. meters which amounts to 103.8% on the respective period of 2011. The ratio between the price of housing and households’ income in 2012 points to the fact that housing became less affordable both on the primary and secondary markets. The weighted average interest rate on mortgage housing loans (MHL) in rubles increased within a month from 11.4% as of December 1, 2011 to 12.4% as of November 1, 2012. The debt on MHL as a share of GDP increased to 4.11% as of October 1, 2012 which figure exceeds by 1.51 p.p. the highest pre-crisis value of the year 2008. |
| Keywords: | Real Estate, Russian Federation |
| Date: | 2013–01 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:39&r=cwa |