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on Transition Economics |
| By: | Xubei Luo; Nong Zhu |
| Abstract: | The Chinese economy has witnessed impressive development since the enterprise reforms in the 1990s. With the restructuring of the private sector and the development of market economy, the level and volatility of firm level productivity have become increasingly important aspects of the micro performance of the economy. This paper examines the role of different firm characteristics - such as size, age, ownership, and geographic location - in productivity volatility using a firm-level dataset collected annually by China’s National Bureau of Statistics in 1998-2007. It follows the methodology developed in Comin and Philippon (2005; 2007) to measure firm productivity volatility as the standard deviation of the annual growth rate of output per worker. Its objectives are to investigate the drivers of productivity volatility of Chinese industrial firms, and to shed light on the sources of output volatility and its evolution over time. The results suggest that in general, firm productivity volatility declined over time. Among firms of different characteristics, larger firms, older firms, foreign firms, and firms located in the coastal provinces are less volatile. Firm size and location are the two major factors that drive changes in productivity volatility – one positively and one negatively. While the gaps of volatility between smaller firms and larger firms declined, the gaps between firms located in the coastal provinces and inland provinces increased. |
| Keywords: | Enterprise reform, productivity, volatility, China, |
| JEL: | C21 D21 E23 |
| Date: | 2015–07–13 |
| URL: | http://d.repec.org/n?u=RePEc:cir:cirwor:2015s-32&r=tra |
| By: | He, Xiaobo; Zhu, Rong |
| Abstract: | Using population census data, this paper examines the causal effect of a second child on married women's labour force participation in urban China. To ameliorate the endogeneity of fertility, we exploit twin births as the source of variation in fertility. While the ordinary least squares estimates indicate that having one more child significantly reduces female labour force participation by around 6 and 9 percentage points in 1990 and 2000 respectively, our causal analyses suggest very small negative effect in 1990 (around 2 percentage points) and insignificant effect in 2000. |
| Keywords: | Female labour force participation, Fertility, One-Child Policy |
| JEL: | J13 J21 |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:65650&r=tra |
| By: | Ivleva, Galina (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Koroteeva, Oksana (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | Àt present the Russian state and civil society are intrinsically interested in constant contact and cooperation to ensure timely response to challenges and threats to the social and economic development of the country. The effectiveness of the Russian state and its ability to advance strategic goals of the country is ensured by its greater transparency and accountability to the society.Despite ongoing efforts to set up procedures of interaction between the state and society, these initiatives have not gained sufficient popularity among Russian citizens. At the same time, independent non-government platforms allowing citizens to express their views on current issues have existed for quite a long time. |
| Keywords: | Russia, civil society, public control |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mn66&r=tra |
| By: | Eva Fodor (Central European University); Daniel Horn (Institute of Economics - Centre for Economic and Regional Studies Hungarian Academy of Sciences) |
| Abstract: | Using the 2008 cross-sectional wave of the survey Statistics on Income and Living Conditions (EU-SILC) and multi-level modeling techniques, this paper explores the macro-level determinants of the gender poverty gap in the ten post-socialist European Union member states. In dialogue with the literature on the impact of economic development on gender inequality in Asia and Latin America, we find that fast-paced, foreign capital led economic growth is associated with a larger gender poverty gap in Central and Eastern Europe, while generous welfare policies, specifically higher levels of spending on pensions and family policies are correlated with women’s lower relative destitution. These findings evaluate the impact of neo-liberal style “economic development” on gender inequality in a geo-politically specific context and suggest that structural adjustment and global market integration may exacerbate women’s vulnerability even when they are well equipped with human capital and other resources to compete with men in the labor market. |
| Keywords: | economic development, poverty, gender, SILC |
| JEL: | J16 P36 I32 C21 |
| Date: | 2015–04 |
| URL: | http://d.repec.org/n?u=RePEc:has:discpr:1519&r=tra |
| By: | Vashakmadze, Teimuraz (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Zalesova, S. (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Sergeeva, Anastasia (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | To date, the issues related to sustainable development comes to the fore among the most researched in the world. Companies are increasingly consider ESG factors in their activities. Factors ESG issues include the environment, social responsibility and corporate governance. Focus on ESG factors in management of the organization due to the fact that the stakeholders in the regions where the organizations are very active in defending their interests. The investment community is critical because it sets the tone, indicating the direction for business development. Investment approach to business valuation takes into account social issues, environmental risks and the quality of corporate governance, called "socially responsible investment» (SRI). For asset managers SRI funds, the initial criterion for inclusion in the company's portfolio is the company's rating on ESG. SRI market is growing and has reached such proportions that it can not be ignored. Total assets according to Eurosif is 7.5 trillion euro. The emergence of new requirements forcing companies to pay attention to the factors of sustainable development and take into account ESG-factors in the strategy development and management of company value. In Russia, the issues of sustainable development and socially responsible investing very little studied, although the largest Russian companies have already begun to move in this direction. All this shows the relevance of the chosen research topic and the need to study the proposed topic. The purpose of the work is to develop conceptual frameworks of social responsible investing in Russia and offer practical recommendations for their implementation in the investment process. The work clarified the concept of "sustainable development" and "socially responsible investment". A survey of the investment community in Russia, the prospects for the development of socially responsible investment in Russia. |
| Keywords: | sustainable development, socially responsible investment, investment community, corporate governance |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mn61&r=tra |
| By: | Senderski, Marcin |
| Abstract: | This paper recognizes vested interests as one of the primary premises that reduce the effectiveness of privatization policy, stall its momentum and produce structural problems in the long-run. Both exogenous and endogenous drawbacks are cited, but the main focus is put on the dynamism of vested interests’ character, interconnectedness and evolution. Policy makers have been long aware of the existence of activities rooted in vested interests including empire building behaviors, creation of sinecures or extravagant management style. Hence, the fundamental effort here is put on the identification of emerging vested interests that were typically not considered by scholars. The channels through which conventional vested interests have snowballed over time are emphasized. This includes casting a closer glance at family employment, as well as at sports sponsorship arrangements, which emerge as the favorite domain of marketing activity for Polish state-owned enterprises. The research of available literature is performed, along with its application to the Polish case, and insightful observations concerning the anatomy of privatization-related reluctance. Rough policy recommendations conclude the paper. |
| Keywords: | Privatization; Poland; vested interests; state-owned enterprises |
| JEL: | D72 D73 L33 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:65482&r=tra |
| By: | Kajisa,Kei; Dong,Bin |
| Abstract: | This article examines the effect of water pricing policies on farmers? water saving behaviors, using original water user group (WUG) data from a reservoir irrigation system in China. The introduction of volumetric water pricing at the group level, to replace area-based pricing, induces institutional change to prevent each member?s overuse of water when the volumetric price levels are moderate. Depending on the initial conditions, the multiple pathways of change lead to new institutional arrangements, with all of them contributing to water savings. However, when the price is set high enough, many farmers exit a WUG for private irrigation. This tendency is associated with an increased probability that the remaining members do not undertake institutional change and that they do not end up saving water. This may be due to the increased management difficulties among the remaining members whose fields are separated by former members who have now opted out for private irrigation across the WUG. As a result, we do not find evidence that the reservoir water is saved at high volumetric price levels. |
| Date: | 2015–07–15 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:7369&r=tra |
| By: | Trunin, Pavel (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | After a detailed analysis of the empirical and theoretical studies aimed at understanding the mutual financial and economic development, and to identify relevant indicators of financial development, by which researchers are studying the impact of the financial sector to other indicators in the work carried out a thorough analysis of the banking system in the Russian Federation. On the basis of the "Russian monitoring the economic situation and public health" excuse analysis awareness, involvement in public confidence in the banking system of the Russian Federation for the period 2006-2012. With these "Bulletin of Banking Statistics", supplemented by the data of the Federal State Statistics Service of enterprises and population, conducted a detailed study of the banking activity in regions of the Russian Federation for the period 2001-2013. It focuses on the analysis of the number of banks and branches represented in different regions, the dynamics of deposits and debt, including arrears. After the analysis is constructed integral indicator of financial development of the regions, on the basis of which the comparison is made between the regions and study the dynamics of financial development in them. |
| Keywords: | financial system, Russian Federation, banking system |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mn38&r=tra |
| By: | Kolesnikova, Irina (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Dobrynina, Valentina (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Kal'chenko, Anna (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | The paper analyzes the theoretical approaches to the study of the problems of modern Russia, intergenerational relations and Enterprise Institute. Intergenerational relations are seen as complex and multidimensional social and cultural phenomenon that significantly affects the values, the motivations, the development of specific professional interests and select students. Identify the role of the family, the immediate social environment and the educational environment as a source of information and influence on the process of socialization and social communication of today's students, correlation between opportunities for social growth rising generations provided strength and intergenerational family ties, ensuring the preservation of the traditions of the older generations in the family business - the middle class of modern Russia. |
| Keywords: | intergenerational relations, enterprise Institute, Russia, social environment, educational environment |
| Date: | 2015–05 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mn43&r=tra |
| By: | Stepantsov, Pavel (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Jigareva, P. (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | As the results of the study "Eurobarometer in Russia," social capital is one of the main resources that underpin social and economic well-being of Russians. The number of social ties and dictate the intensity of contacts at the micro-level characteristics of the economic behavior of the Russians, their financial strategies, as well as their career path. Meanwhile, it remains unclear how the Russians manage to convert social capital into real economic resources. The text is based on the methodology of the study of practices and strategies of economic behavior of the population, developed on the basis of a pan-European study "Eurobarometer". |
| Keywords: | Eurobarometer, social capital, well-being |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mn59&r=tra |
| By: | Jack A. Goldstone (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Shulgin, Sergey (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Arkhangelskiy, Vladimir (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Korotaev, Andrey (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Zinkina, Yulia (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Novikov, Kirill (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Pustovalov, Denis (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | The paper considers the demographic processes of the Russian Federation, government regulation of demographic processes and their social and economic consequences. The work analyzed the impact of public policies to support the birth rate and assess its effectiveness, with studied problems associated with estimating excess mortality of young working age, and studied problems associated with migration sentiments on the example of the Vladimir region. |
| Keywords: | demography, migration, Russia |
| Date: | 2015–05 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mn44&r=tra |
| By: | Petra Posedel Simovic (Zagreb School of Economics and Management); Marina Tkalec (The Institute of Economics, Zagreb); Maruska Vizek (The Institute of Economics, Zagreb) |
| Abstract: | The aim of this paper is to study time-varying integration between European post-transition government bond markets and eurozone bond market. We follow the empirical approach defined in Bekaert and Harvey’s (1995) seminal paper, which enables direct estimation of the time-varying degree of financial markets integration. We thus investigate bond markets of eight new member states of EU and one non-EU member (Ukraine). The result of our empirical examination is a time-varying parameter of integration that is driven by a set of macroeconomic instruments defined in order to represent the intensity of real economic integration of analyzed countries into the eurozone, and their fiscal stances. Our results suggest integration varies with respect to economic development, as economically more advanced countries demonstrate a higher level of integration in the observed period. Moreover, we observe that integration decreased with the financial crisis, but it levelled off relatively swiftly afterwards. Depending on the country, joining the EU either exerted a positive boost on sovereign bond integration, or was neutral with regards to integration. We also show that macroeconomic performance relative to the eurozone benchmark and fiscal stance matter greatly for bond market integration in all countries under examination. |
| Keywords: | European post-transition countries, sovereign securities markets, bond market integration |
| JEL: | E44 F36 G15 |
| Date: | 2015–04 |
| URL: | http://d.repec.org/n?u=RePEc:iez:wpaper:1501&r=tra |
| By: | Sokolov, Ilya (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Hudko, Elizaveta (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Moguchev, Nikita (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Deshko, M. (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | This paper presents an analysis of the international governance of R&D, the peculiarities of the activities of international research organizations and different types of legal form of organizations (Academy of Sciences, universities, research institutes) in the institutional environment of R&D in different countries, the analysis of the structure and dynamics of financing costs research in OECD countries and Russia, revealed features international distribution and delivery of budget funds to contractors. |
| Keywords: | R&D, OECD, public expenditure |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mn54&r=tra |
| By: | Knobel, Alexander (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Chokaev, Bekhan (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Mironov, Alexey (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | In this paper, "Comparative analysis of the effectiveness of public spending in the field of national defense and law enforcement," the analysis of the core functions and the effects of government spending on defense, conducted a detailed review of the existing in modern economic science of theoretical and empirical approaches to the assessment of the effects of defense spending, the analysis of accounting methodology military expenditure, assessed the impact of defense spending on output growth through fiscal multiplier effect for Russia. The paper also carried out an analysis and assessment of the effectiveness of government spending on defense and law and order. That research has a significant practical value. These authors estimate and lessons learned can be used by public authorities of the Russian Federation in the development of fiscal policy and the formation of long-term economic development strategies. |
| Keywords: | public spending, national defences, law enforcement, Russia |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mn47&r=tra |
| By: | Pakhomov, Alexander (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Makarov, Andrei (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Izryadnova, Olga (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Volovik, Nadezhda (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | The present study focuses on the analysis of current trends and problems of development of Russian exports and develop new areas of implementation of the foreign economic policy of the country, taking into account the influence of internal macroeconomic factors and the global challenges of the world market. These circumstances not only bring new risks, but also create opportunities for development in the medium term, it is appropriate to take into account in the formulation of a renewed foreign economic strategy of the Russian Federation, including the export sector. Particular emphasis is placed on the analysis of theoretical issues of domestic exports to the terms of Russia's membership in the WTO and the application of international sanctions. In addition, we study specific practical aspects of the development of financial and non-financial support of domestic exports by the state at the present stage. |
| Keywords: | exports, Russia, world market |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mn56&r=tra |
| By: | Eduard P.Gavrilov (National Research University Higher School of Economics) |
| Abstract: | This paper is a short English version of my various articles on this topic published in Russian, in journals: «The business and the law» (Chozjaistvo i pravo) and «The patents and licenses» (Patenti i licenzii). As is known modern Russian revolution in the field of intellectual property legislation occurred January 1, 2008: on this day Russian intellectual property legislation was codified, included in the text of the Civil code of the Russian Federation as part fourth of the Civil Code (CC). Part fourth of the Russian CC (Federal law ¹230-FZ, 2006) entered into force on January 1, 2008. Second Revolution in this field took place during 2014: Federal law ¹35-FZ, 2014, substantially amending the Fourth part on the CC, entered into force on October the first 2014. The essence and evaluation of these amendments is the subject matter of this paper. Factually the Federal Law ¹35-FZ (2014) is the eleventh law amending the text of the part fourth of the CC. But all previous amendments were small and not substantional. As far as amendments introduced by the law ¹35-FZ (2014) are concerned, they are numerous and very, very substantional. I cannot say that the law ¹35-FZ (2014) represents a new Revolution in the field of intellectual property legislation of my country, but I convinced, that the law is a rather big step towards building a modern system of intellectual property legislation in Russia. Before entering into force of the law ¹35-FZ (2014) (thereafter - law 35-FZ), the Part fourth of the CC contained 328 articles. The law 35-FZ amends 169 articles of it and adds to it new seven articles |
| Keywords: | K19 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:52/law/2015&r=tra |
| By: | Nazarov, Vladimir (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Davis, Christopher Mark (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Gerry, Christopher J. (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Polyakova, Aleksandra (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Sisigina, Natalia (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Sokolov, D. (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | Keeping pace of development of the Russian health care system requires improving the efficiency of spending. In developed countries, an important role in this task plays a multilevel system of evaluation and control of cost-effectiveness and results of operations of the health system and its individual members, supported by the use of evaluation findings in political and administrative decisions in the health sector, financial incentives and information support of participants in the evaluation. Effective today in Russia, the system for monitoring the effectiveness of the health system is largely a formality and does not meet modern political tasks. The most acute problems in assessing the effectiveness of the country include the lack of evaluation of individual elements, first of all, health technology assessment; the poor quality of data collected, the weak development of mechanisms for the implementation of evaluation results, in particular, the development of public policies promoting health care providers, informing the public about the quality of services provided. The aim of the present work is the development of basic mechanisms for assessing the efficiency and effectiveness of the Russian health care system, taking into account the best international and domestic experience. |
| Keywords: | health care system, Russia |
| Date: | 2015–05 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mn41&r=tra |
| By: | Shengjun Zhu; Canfei He; Yi Zhou |
| Abstract: | By using the proximity product index, recent studies have argued that regional diversification emerged as a path-dependent process, as regions often branch into industries that are related to preexisting industrial structure. It is also claimed that developed countries that start from the core, dense areas in the uneven industry space have more opportunities to jump to new related industries and therefore have more opportunities to sustain economic growth than do developing countries that jump from peripheral, deserted areas. In this paper, we differentiate two types of regional diversification—path-dependent and path-breaking—and ask questions from a different angle: can developing countries/regions jump further in the industry space to break path-dependent development trajectories and more importantly to catch up with developed ones? Based on China’s export data, this paper shows that regions can jump further by investing in extra-regional linkages and internal innovation. Not only do these two sets of factors promote regions’ jumping capability, but they also contribute to regions’ capability of maintaining a comparative advantage in technologically distant and less related industries. In addition, different extra-regional linkage and internal innovation factors have affected regional diversification to different extents, and these effects also vary across regions and industries. Empirically, this research seeks to find a more promising future for developing countries/regions. Theoretically, our research testifies some key findings of theoretical works in evolutionary economic geography by using a quantitative framework. In addition, this paper includes some economic and institutional factors that have been left out in previous studies. |
| Keywords: | path-dependent, path-breaking, industrial relatedness, proximity index, transition industries |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:egu:wpaper:1524&r=tra |
| By: | Radchenko, Tatiana (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Shastitko, Andrei (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | The paper reviewed the main provisions of FAS Russia approved the principle of economic analysis of pricing practices for compliance with the federal law "On Protection of Competition"; formulate proposals for their adjustment in terms of reducing the potential regulatory risks for businesses, and for dominant companies in particular; calculated the potential impact of different methods of pricing in the export markets in terms of changes in market turnover and changes in consumer surplus. The results of the study can be used in the work of the Federal Antimonopoly Service of Russia in order to improve the economic analysis of pricing practices for compliance with competition law and the prevention of the breach, in particular Article 10 of the Federal Law "On Protection of Competition". |
| Keywords: | competition, economic regulation, discrimination, economic concentration transaction, monopolistically high price regulations |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mn40&r=tra |
| By: | Pierre-Philippe Combes (Departement d'Economie de Sciences Po); Sylvie Démurger (CNRS); Shi Li |
| Abstract: | We analyse the impact of internal migration in China on natives׳ labour market outcomes. We find evidence of a large positive correlation of the city share of migrants with natives׳ wages. Using different sets of control variables and instruments suggests that the effect is causal. The large total migrant impact (+10% when one moves from the first to the third quartile of the migrant variable distribution) arises from gains due to complementarity with natives in the production function (+6.4%), and from gains due to agglomeration economies (+3.3%). Finally, we find some evidence of a stronger effect for skilled natives than for unskilled, as expected from theory. Overall, our findings support large nominal wage gains that can be expected from further migration and urbanisation in China. |
| Keywords: | Migration; Urban Development; Agglomeration Economies; Wage Disparities; China |
| JEL: | O18 J61 R23 J31 O53 |
| Date: | 2015–05 |
| URL: | http://d.repec.org/n?u=RePEc:spo:wpmain:info:hdl:2441/l4oaogsnr9rvqfme8pagm9sb6&r=tra |
| By: | Yi Zhou; Canfei He; Shengjun Zhu |
| Abstract: | Creative destruction is a key driving force behind industrial development. The continuing process of creative destruction provides an impetus to regional industrial renewal. Our analytical framework that emphasizes the ways in which firm exit creates a stimulus for firm entry, resulting in incremental innovation and productivity increase is complementary to the process of technological change and industrial renewal articulated by Schumpeter who pays attention to how new entrants bring in radical innovation and new products, making incumbents’ products and technologies obsolete and force them to exit or catch up. Using firm-level data of China’s industries during 1998-2008, this paper seeks to argue that the articulation between firm exit and entry has been constantly shaped by an assemblage of various factors, including firm characteristics, industrial linkages, regional institutions and geographical proximity. |
| Keywords: | Creative destruction, Firm Exit, Firm Entry, Industrial Dynamics, China |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:egu:wpaper:1522&r=tra |
| By: | Kushlin, Valery (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Ustenko, Viktoria (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | According to the new challenges Russia needs to provide access to the path of sustainable economic growth n the medium term period, which involves the activation of investment policy, not only quantitatively but also qualitatively, so to go to the innovation-oriented and high-performance economy. The paper analyzes three possible scientific innovation inve-vestment policy of Russia in the conditions of high uncertainty, heated global crisis: 1) Local Leadership "; 2) "The rapid pursuit"; 3) "Adaptation to the off-season." It is shown how should combine all three at the same time the above script. Proposals aimed at improving the strategic-agency and program-oriented planning of scientific and innovative development of the mechanism of stimulation of innovative activity of Russian business, improving state management of innovative projects. Reasonable measures for the development of venture financing of innovative projects, use of mechanisms, "technology platforms" as a bridge between science, government and manufacturing business, the use of modern public-private partnerships, and more effective harnessing of innovation in order to modernize the economy of the human factor. |
| Keywords: | venture capital investment, public-private partnerships, investment policy, innovative modernization, intellectual resources, national innovation system, technology platforms, human potential |
| Date: | 2015–05 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mn42&r=tra |
| By: | Simeon Djankov (Peterson Institute for International Economics) |
| Abstract: | Since the promising start of its transition from a centrally planned economy to capitalism, Hungary has failed to join Western Europe in terms of living standards and democracy. The dominant political figure in Hungary, Prime Minister Viktor Orbán, shares many features with Russian president Vladimir Putin. Both view the increasing role of the state as economically beneficial, and both consider the Western European economic model to be flawed. Hungary is headed towards centrally planned capitalism, demonstrated by the partial nationalization of the banking sector, the monopolization of some sectors of the economy, and the reversal of the pension reforms of 1998. Plagued by the most persistent budget deficit of any post-communist country, Hungary's greatest challenge is to establish a fiscally sustainable growth path. |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:iie:pbrief:pb15-11&r=tra |
| By: | Qi Guo; Canfei He |
| Abstract: | A growing literature on evolutionary economic geography concludes that regional industrial evolution is path-dependent and is determined by the pre-existing industries. This study applies the co-occurrence approach to calculate the production relatedness and portrays the production space and then examines the impact of production relatedness on regional industrial evolution. The findings report that production relatedness does underscore the regional structure change in China but shows significant regional differences in the evolution path. The coastal region has strong tendency of path dependence in its industrial evolution, while North West and South West break the path-dependent trajectory and transition into high productive sectors distant from their own production network. The results suggest that national policies can play its crucial role in creating new paths in China's regional development. Institutions matter to allow the significant role of industry relatedness in driving regional industrial evolution. |
| Keywords: | Production space, Industry relatedness, Regional Industrial Evolution, China |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:egu:wpaper:1521&r=tra |
| By: | Canfei He; Yan Yan; David Rigby |
| Abstract: | The evolutionary economic geography indicates that regional industrial development is path dependent. The path dependence approach however ignores the external factors, which may create new paths of regional development. Moreover, it does not pay much attention to the role of institutions. Both external factors and institutions are crucial to understand the regional industrial evolution in China. Based on firm level data of Chinese manufacturing industries during 1998-2008, this study examined the industrial evolution through the lens of entry and exit of four digit industries at the Chinese prefectures. Using a measure of co-occurrence based technological relatedness, we apply a logit model to link industry entry and exit to technological relatedness. We find significant evidence that regions branch into new industries which are technologically related to the existing industries and related industries are less likely to exit. Related globalization also encourages the entry of new related industries and discourages the exit of related industries. Further analysis reveals that economic transition has created favorable conditions to allow a larger role of technological relatedness. New industries are more likely to enter regions which are globalized, liberalized and fiscally independent, indicating that economic transition has also generated opportunities for Chinese regions to create new paths of industrial development. |
| Keywords: | Technological Relatedness, Economic Transition, Industrial Evolution, Path Dependence, Path Creation |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:egu:wpaper:1520&r=tra |
| By: | Vedran Recher (The Institute of Economics, Zagreb); Jelena Budak (The Institute of Economics, Zagreb); Edo Rajh (The Institute of Economics, Zagreb) |
| Abstract: | The online privacy issue has received a great deal of scholarly attention in the past decade. Studies for Western developed societies have shown that privacy concern and risk awareness are higher in more developed countries; however, the relevance of online privacy concern in the context of economic development remains unexplored. In a digital society, online privacy concern could have significant impact on the real economy; therefore it is not to be underestimated. If indeed development is influenced by the penetration of new technologies, the connection between online privacy concern and development could have a major role in post-transition economies. In this paper we try to determine the level of online privacy concern in a set of post-transition, Western Balkan countries and its repercussions on the future development of these countries. Past research for the Western Balkan region has shown significant structural differences in general privacy concern and here we introduce a new approach which focuses on online privacy concern. We contextualize online privacy with the implementation of reforms which are crucial for the Western Balkan region as well as for other less developed and post-transition economies. The differences in the level of online privacy concern among post-transition Western Balkan countries are discussed in the context of their economic, technological and institutional development, and policy implications are suggested. |
| Keywords: | online privacy concern, development, Western Balkans |
| JEL: | D18 M15 O39 |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:iez:wpaper:1502&r=tra |
| By: | Ozcan Saritas (National Research University Higher School of Economics); Liliana Proskuryakova (National Research University Higher School of Economics); S Sivaev |
| Abstract: | The research presented in this paper focuses on the sustainable use of water resources in Russia based on a Foresight study with a 20-year time horizon. The study uses a scenario-planning method to develop four trajectories: economic depression, economic stagnation, visionary future, and national priority. These four trajectories offer significantly different yet plausible alternative futures. The current paper draws upon the earlier horizon scanning activity, which identified a set of trends, weak signals and wild cards, along with their implications for water resources in Russia. Based on this work, it identifies key factors and indicators, which may characterize future developments in the following domains: (i) the sustainability of water systems; (ii) water use by households and industry; and (iii) new water products and services. The evolution of variables and indicators will then be considered under the scenarios termed ‘Nearly perfect future’ (economic growth), ‘Problem conservation’ (economic stagnation), ‘Losses and accidents’ (economic depression), and ‘National priority’ trajectories. The paper concludes with a brief description of further research directions, including a discussion on the probability of the scenarios being implemented. Russian policy makers and water companies may use the scenarios to adapt (i.e. plan for timely responses), avert certain undesirable future developments, or approximate the visionary future of the sector |
| Keywords: | water resources, sustainable water systems, water use, water goods and services, scenarios, Foresight, Russia. |
| JEL: | H4 H5 H87 I30 M11 R20 R52 Q01 Q02 Q15 Q18 Q22 Q25 Q26 Q27 Q53 Q54 Q55 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:42sti2015&r=tra |
| By: | Volovik, Nadezhda (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | CIS countries are our neighbors and have traditionally been the most important trade partners of the Russian Federation in the course of political and economic reforms in the CIS countries there are new developments and trends in the development of trade relations of these countries, the problems and difficulties of traditional restoration and finding new forms of trade relations. The changes require constant study of the events in order to determine the prospects of trade and economic cooperation, development of recommendations for improvement, find solutions to problems. All this determines the relevance of the study. |
| Keywords: | CIS, Russia, trade |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mn51&r=tra |
| By: | Joan Costa-i-Font; Lucia Kossarova |
| Abstract: | Processes of transition to democracy and country break up stand out as ideal experiments to estimate the impact of wide institutional reform on well-being. Changes in population heights are regarded as virtuous pointers of well-being improvements in psycho-social environments, which improve with democracy. We analyzed a unique dataset containing individual heights in the Czech Republic and Slovakia to measure the retrospective wellbeing effects of the two transitions to liberal democracy and capitalism after the split up of Czechoslovakia. An additional year spent under democracy increases height by 0.286cm for Slovaks and 0.148cm for Czechs. Results were robust to using an alternative dataset and suggest that although transition paths differ across the two countries, the absolute height gap between Slovaks and the Czechs did not change. Slovaks benefited more than the Czechs in the bottom and mid tercile. |
| Keywords: | height, democracy, transition, secession, Czechoslovakia, Blinder-Oaxaca decomposition, height dimorphism |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:eiq:eileqs:95&r=tra |
| By: | Urban Sila |
| Abstract: | Excessive credit growth, poor risk assessment and lax lending standards in the run up to the 2008 global crisis led to unsustainable debt build-up in banks and related corporates. A weak framework for the governance of largely state-owned banks is likely to have contributed to the misallocation of credit. Furthermore, there were weaknesses in the banks' risk management systems and banks often didn’t properly adhere to regulations and guidance given by the supervisor. Following the results of the stress tests and the Asset Quality Review, in December 2013, the major state-owned banks were recapitalised at a cost of around 11% of GDP, and part of their non-performing loans (NPLs) transferred to the Bank Asset Management Company (BAMC). Banks nevertheless remain weak, with still high NPLs, and corporations are highly leveraged. For successful restructuring and liquidation of assets, BAMC needs to act independently, transparently, with corporate governance of highest standards. Privatisation can improve corporate governance and closer supervision can ensure better compliance by banks. Insolvency legislation was thoroughly reformed in 2013 and should be implemented effectively to help return the healthy parts of the economy to invest and grow again. This Working Paper relates to the 2015 OECD Economic Survey of Slovenia (www.oecd.org/eco/surveys/economic-survey-slovenia.htm).<P>Restaurer le secteur financier et le désendettement des entreprises en Slovénie<BR>Une croissance excessive du crédit, une mauvaise évaluation des risques et des normes de crédit laxistes pendant la crise mondiale de 2008 ont conduit à un endettement insoutenable dans les banques et les entreprises connexes. Une faible gouvernance des banques quasi-nationalisées a contribué à la mauvaise allocation du crédit. En outre, il y avait des faiblesses chez les banques dans les systèmes de gestion des risques, ils n'étaient pas souvent en conformité avec la réglementation et les directives données par le superviseur. Suite aux résultats des tests de résistance et l'examen de la qualité des actifs, en Décembre 2013, les grandes banques appartenant à l'État ont été recapitalisées à un coût d'environ 11% du PIB, et une partie de leurs prêts non performants (PNP) transférés à la Banque Asset Management Company (BAMC). Les banques restent néanmoins faibles, avec des créances improductives élevées, et les entreprises sont fortement endettées. À fin de réaliser une restructuration et une liquidation des actifs, BAMC doit agir de façon indépendante et transparente, avec une gouvernance des normes d'entreprise plus important. La privatisation peut améliorer la gouvernance d'entreprise et une surveillance plus étroite peut assurer un meilleur respect par les banques. La législation de l'insolvabilité a été réformée en profondeur en 2013 et devrait être mise en oeuvre pour aider à retrouver les parties saines de l'économie à investir et croître à nouveau. Ce Document de travail se rapporte à l’Étude économique de l’OCDE de la Slovénie, 2015 (www.oecd.org/fr/eco/etudes/etude-econom ique-slovenie.htm). |
| Keywords: | deleveraging, insolvency, banking system, insolvabilité, système bancaire, désendettement |
| JEL: | G2 G3 |
| Date: | 2015–07–15 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:1243-en&r=tra |
| By: | Shagaida, Natalia (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Uzun, V. (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Gataulinà, Ekaterina (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Saraikin, Valeri (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Yanbykh, Renata (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Karlova, Natalia (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | Abstract: The paper gives a brief description of Agriculture of Russia, Belarus, Kazakhstan and Armenia, shows the role of the mutual trade, revealed the goods, the intervention of which could potentially adversely affect the Russian agricultural producers, assessed the possibility of expanding their expansion. On the basis of the functioning of the EU highlights the main elements of the formation of a common market for agricultural products. Systematized materials on the system of state support of agriculture in each of the countries studied and compared, evaluated the levels of state support of the countries, analyzed the possibility of limiting production within the common economic space for the protection of Russian agricultural producers, revealed defects agreement on common rules for state support of agriculture and forms notification. |
| Keywords: | agriculture, Russia, Belarus, Kazakhsta, Armenia, EEA agreement |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mn52&r=tra |
| By: | KAWASHIMA Fujio |
| Abstract: | In August 2014, just after celebrating the sixth anniversary of the entry into force of the Chinese Antimonopoly Law (hereinafter, Chinese AML), the National Development and Reform Commission of China, which is one of the enforcing agencies of the law, announced its decisions on the two price-fixing cases in which eight Japanese automobile parts manufacturers and four Japanese bearing manufacturers are involved. Since the time around this announcement, many media reports, Japanese and overseas, have casted doubt as to whether Chinese AML has been used as a tool to "bash foreign capitals" or selectively enforced toward foreign capitals. At the same time in September 2014, the U.S. Chamber of Commerce issued a paper on Chinese AML, which severely criticized it as having been "used as a tool of industrial policies."Against this backdrop, this paper, by introducing the statistics of formal decisions based on Chinese AML and analyzing their concrete content in details, tries to grasp the trend of its enforcement and examine whether such criticism claiming "bashing foreign capitals" and "a tool of industrial policies" can be sustained. According to the statistics, it is not so easy to conclude that Chinese AML has been selectively enforced towards foreign capitals, but if we examine the concrete content of the decisions in details, there are some decisions where policies other than competition policy, such as industrial policies or resource or food security policy, are reflected in their reasoning for the interference. As the enforcement of the AML by China, which is expanding its presence not only as "the world's factory" but also as "the world's market," has the potential to influence competition in the world market as a whole significantly, it is necessary to continue to monitor the trend of its enforcement carefully and also try to develop disciplines of international economic law which can address the abuse of antimonopoly laws. |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:eti:rdpsjp:15042&r=tra |
| By: | Merle Kreibaum (Georg-August-University Göttingen); Stephan Klasen (Georg-August-University Göttingen) |
| Abstract: | We investigate the effect of the Vietnam War and the socialist regime in the Northern part of the country on female labour force participation. We differentiate the effect across birth cohorts, thus comparing immediate and long-term impacts. After presenting a theoretical model implying effects due to the role played by the ‘added workers’ and cultural change, we use data from three national household censuses in 1989, 1999, and 2009 to estimate probit models of determinants of women’s choice to enter the labour market. Proxying war intensity with the provincial share of female population after the war, the effect of ‘missing men’ on the work status of women is found to be positive and significant for those cohorts directly affected by the war. For those cohorts entering working age after the end of the conflict, the effect is still positive but smaller and in some specifications insignificant. Living in the Northern part of the country increases the likelihood of a woman working by around eleven percentage points, suggesting a larger and more persistent effect of socialism on female labour force participation. |
| Keywords: | Female labour force participation; conflict, Socialism; Vietnam |
| JEL: | F51 J16 J20 O15 P2 |
| Date: | 2015–07–21 |
| URL: | http://d.repec.org/n?u=RePEc:got:gotcrc:181&r=tra |
| By: | Belyakov, Sergei (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Klyachko, Tatiana (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | The main purpose of the study is to assess the contribution of education systems of the Russian Federation in their socio-economic development. The paper considers two approaches to assessing the contribution of education to the socio-economic development of regions of the Russian Federation on the basis of a narrow concept of "human capital" and based on the transformation of the educational potential in the labor force. |
| Keywords: | education systems, Russia, socio-economic development, human capital |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mn68&r=tra |
| By: | Agapova, E. (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Smirnova, Olga (Russian Presidential Academy of National Economy and Public Administration (RANEPA)); Elagina, A. (Russian Presidential Academy of National Economy and Public Administration (RANEPA)) |
| Abstract: | Analysis of the regulatory practice of price discrimination shows that in most cases the decision of antitrust authorities challenged in court and in more than 50% of cases are canceled. In addition, from 2009 to 2013 in the arbitration courts of various levels was considered 227 cases of violation of the antimonopoly legislation on sub 6 paragraph 1 of Article 10 of the Law on Protection of Competition number 135, indicating a high load on the judicial system and anti-monopoly authorities in the regulation of price discrimination . As a result of the proposed methods for the assessment of indicators proposed form of price discrimination practices of formation of commodity prices under oligopoly to form the upper limit of the price, which will reduce the price differentiation between buyers and not the associated costs for the implementation of sales. Also, to reduce the capacity to implement price discrimination suggests approaches to improve the practices of the exchange trading in commodity markets. |
| Keywords: | price discrimination, oligopolic markets, commodity markets |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:mn64&r=tra |
| By: | Urban Sila; Hermes Morgavi; Nataša Jemec |
| Abstract: | The rapid growth after independence stopped in 2008 as the global crisis exposed important structural weaknesses. Large state involvement and rigid labour and product markets lowered productivity. Weak corporate governance and easy credit before the crisis led to high indebtedness and overinvestment. Slovenia was slow to deal with the underlying structural problems. Gradually, important reforms have been implemented which raised credibility of Slovenia in the financial markets and boosted confidence. But economic recovery has been sluggish, many people are unemployed and living standards still remain below the pre-crisis levels. Cost competitiveness and export market performance deteriorated, and there have been marked improvements only recently. Better corporate governance and management practices in the state owned sector and privatisations can attract FDI and raise efficiency. Low innovative activity could be boosted by more FDI, stronger framework for entrepreneurial activity and better start-up support. Relatively high minimum wage is potentially reducing employment opportunities of low-skilled workers. Limiting the minimum wage growth, and lowering the high tax wedge on labour income could boost employment. Efficiency should be raised in early and tertiary education to enhance skills. Despite generous public support, overall students’ performance could be improved and there are marked differences between students from different socioeconomic backgrounds. This Working Paper relates to the 2015 OECD Economic Survey of Slovenia (www.oecd.org/eco/surveys/economic-survey-slovenia.htm).<P>Renforcer la compétitivité et la croissance à long terme de l'économie Slovène<BR>La croissance rapide suite à l'indépendance s'est arrêtée en 2008 alors que la crise mondiale a révélé d'importantes faiblesses structurelles. La participation de l'État et des marchés du travail rigides ont abaissé la productivité. Une faible gouvernance des entreprises et une facilité d'accès au crédit avant la crise ont conduit à un endettement élevé et au surinvestissement. La Slovénie a été lente à traiter les problèmes structurels sous-jacents. Peu à peu, des réformes importantes ont été mises en oeuvre qui ont amélioré la crédibilité de la Slovénie dans les marchés financiers et ont renforcé la confiance. Mais la reprise économique a été lente, beaucoup de gens sont au chômage et les conditions de vie restent toujours en dessous des niveaux d'avant-crise. La compétitivité des coûts et la performance des marchés d'exportation se sont détériorées, il y a eu des améliorations marquées que récemment. Des meilleures pratiques de gouvernance d'entreprise et de gestion des secteurs conduits par l'État et les privatisations peuvent attirer l'IDE et augmenter l'efficacité. Une faible activité innovante pourrait être stimulée d'avantage par l'IDE, en créant un environnement plus solide pour l'activité entrepreneuriale et un meilleur support pour de nouvelles entreprises de petite taille. Le salaire minimum relativement élevé réduit potentiellement les possibilités d’emploi de travailleurs peu qualifiés. Limiter la croissance du salaire minimum, et l'abaissement de la charge fiscale sur les revenus du travail pourrait stimuler l'emploi. L'efficacité doit être soulevée dans l'éducation précoce et tertiaire pour améliorer les compétences. Malgré le soutien public, la performance de l'ensemble des étudiants pourrait être améliorée et il y a des différences marquées entre les élèves de différents milieux socio-économiques. Ce Document de travail se rapporte à l’Étude économique de l’OCDE de la Slovénie, 2015 (www.oecd.org/fr/eco/etudes/etude-econom ique-slovenie.htm). |
| Keywords: | taxation, education, innovation, labour market, productivity, R&D, fiscalité, marchés du travail, innovation, éducation |
| JEL: | E24 F21 G3 H2 I2 J24 K2 L26 L33 O3 |
| Date: | 2015–07–15 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:1241-en&r=tra |
| By: | Kaiji Chen (Emory University) |
| Abstract: | We make three contributions in this paper. First, we provide a core of macroeconomic time series usable for systematic studies on China's macroeconomy. Second, we document, through various empirical methods, the robust findings about the striking patterns of trend and cycle. Third, we build a theoretical model that accounts for these facts. The model's mechanism and assumptions are supported by institutional details and disaggregated time series distinctive of Chinese characteristics. |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:red:sed015:145&r=tra |
| By: | Siqi Zheng; Weizeng Sun; Jianfeng Wu; Matthew E. Kahn |
| Abstract: | Several Chinese cities have invested billions of dollars to construct new industrial parks. These place based investments solve the land assembly problem which allows many productive firms to co-locate close to each other. The resulting local economic growth creates new opportunities for real estate developers and retailers that develop properties and stores close to the new park. The city mayor has the political clout and the personal promotion incentives to anticipate these effects as he chooses whether and where within the city to build the park. Using several geo-coded data sets, we measure the localized spillover effects of the new parks on local incumbent firm productivity, the growth of retail activity close to the park and local real estate pricing and construction. We document the heterogeneous effects of investment in parks. Those parks featuring a higher level of human capital, a greater level of co-agglomeration among firms within the park, and a smaller share of State Owned Enterprises offer greater spillover effects. |
| JEL: | H42 H72 |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:21378&r=tra |