Russian Journal of Economics最新文献_第3页

Impact of Russia–Ukraine conflict on Russian financial market: Evidence from TVP-VAR and quantile-VAR analysis 俄乌冲突对俄罗斯金融市场的影响:来自TVP-VAR和分位数var分析的证据

Russian Journal of Economics Pub Date : 2023-10-03 DOI: 10.32609/j.ruje.9.105833

Mirzat Ullah, Kazi Sohag, Shabeer Khan, Hafiz M. Sohail

引用次数: 0

The Russian labor market: Long-term trends and short-term fluctuations 俄罗斯劳动力市场:长期趋势和短期波动

Russian Journal of Economics Pub Date : 2023-10-03 DOI: 10.32609/j.ruje.9.113503

Rostislav I. Kapeliushnikov

{"title":"The Russian labor market: Long-term trends and short-term fluctuations","authors":"Rostislav I. Kapeliushnikov","doi":"10.32609/j.ruje.9.113503","DOIUrl":"https://doi.org/10.32609/j.ruje.9.113503","url":null,"abstract":"This paper provides a statistical portrait of the Russian labor market during the latest period of 2010–2022. The analysis delves into both the long-term trends in its evolution and short-term fluctuations associated with its adjustment to economic downturns. The most noteworthy among the long-term changes are a gradual shrinkage of the labor force and employment, the transition to record low unemployment, a sharp acceleration in worker turnover, and the emergence of an extensive overhang of unfilled job vacancies. During the period under review, the Russian economy experienced three strong adverse macroeconomic shocks — the first sanctions crisis in 2014–2015, the corona crisis in 2000–2021, and the second sanctions crisis, which began in 2022 and is still far from over. The paper provides the evidence that the Russian labor market has retained the same algorithm for accommodation to economic downturns, which it developed back in the 1990s. A distinctive feature of this specific model is that the negative shocks are absorbed predominantly through declines in wages and reductions in working hours, rather than through contraction of employment and surge in unemployment. The general conclusion is that the Russian labor market is undergoing a transition from a functional regime marked by tight labor demand to another characterized by tight labor supply.","PeriodicalId":36642,"journal":{"name":"Russian Journal of Economics","volume":"196 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135696582","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The measurement of green economic quality in the BRICS countries: Should they prioritize financing for environmental protection, economic growth, or social goals? 金砖国家绿色经济质量的衡量:是否应该优先为环境保护、经济增长或社会目标融资?

Russian Journal of Economics Pub Date : 2023-07-17 DOI: 10.32609/j.ruje.9.101612

Duc-Huu Nguyen, I. Khominich

{"title":"The measurement of green economic quality in the BRICS countries: Should they prioritize financing for environmental protection, economic growth, or social goals?","authors":"Duc-Huu Nguyen, I. Khominich","doi":"10.32609/j.ruje.9.101612","DOIUrl":"https://doi.org/10.32609/j.ruje.9.101612","url":null,"abstract":"The study presents a Green Economy Index that evaluates the quality of green economies in the BRICS countries based on three pillars: environment, economic performance, and quality of green living. Research findings suggest that the BRICS nations are gradually shifting their focus from mere economic growth to encompassing environmental, social welfare, and equality concerns. Russia showcased the best balance among these three pillars from 2011 to 2020, while India and China made notable strides. Nevertheless, Brazil and South Africa face obstacles in improving their economies and increasing social welfare. The indicators highlight specific challenges each country must address, including high unemployment in Brazil and South Africa, low energy intensity in Russia and China, and air pollution and low Human Development Index in India, alongside shared issues like low government transparency. Based on the research significant findings, the study attempts to address whether the BRICS nations should prioritize financing environmental protection, economic growth, or social goals to maintain a balance among all the three pillars and achieve their green economy objectives.","PeriodicalId":36642,"journal":{"name":"Russian Journal of Economics","volume":"27 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87460925","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Geopolitical risk and military expenditures: Evidence from the US economy 地缘政治风险和军事开支:来自美国经济的证据

Russian Journal of Economics Pub Date : 2023-07-17 DOI: 10.32609/j.ruje.9.97733

Osama D. Sweidan

{"title":"Geopolitical risk and military expenditures: Evidence from the US economy","authors":"Osama D. Sweidan","doi":"10.32609/j.ruje.9.97733","DOIUrl":"https://doi.org/10.32609/j.ruje.9.97733","url":null,"abstract":"Exploring the nexus between geopolitical risk (GPR) and military expenditures (ME) has been limited during the past period. It is justified by the absence of a well-published proxy for GPR. Recently, the work of Caldara and Iacoviello (2022) stimulated scholars to examine the consequences of GPR. Our paper seeks to understand the relationship between GPR and ME in the United States (US). It designs a theoretical framework and computes an econometric model using the Autoregressive Distributed Lag methodology based on annual data (1960–2021). In addition, it uses the pairwise Toda–Yamamoto causality test. The results show that the relationship between GPR and ME is one of unidirectional causality and runs from ME to GPR in the US. Further, this relationship is statistically significant and positive in the short and long run. This finding supports our hypothesis that the USGPR is a consequence of resource allocation, i.e., ME, and can be controlled, directed, and mitigated. Thus, ME is a tool to achieve the US international hegemony’s strategic goals. From a policy implication perspective, it has been proved that GPR has broad negative consequences for various economies. Thus, moving toward cooperation and coordination with other nations instead of accumulating ME tends to support the international economy.","PeriodicalId":36642,"journal":{"name":"Russian Journal of Economics","volume":"69 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89019937","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Unrealized opportunities: Exploring Russia’s untapped OFDI potentials amidst economic sanctions 未实现的机会:在经济制裁中探索俄罗斯未开发的对外直接投资潜力

Russian Journal of Economics Pub Date : 2023-07-17 DOI: 10.32609/j.ruje.9.104661

I. Drapkin, A. Fedyunina, Y. Simachev

{"title":"Unrealized opportunities: Exploring Russia’s untapped OFDI potentials amidst economic sanctions","authors":"I. Drapkin, A. Fedyunina, Y. Simachev","doi":"10.32609/j.ruje.9.104661","DOIUrl":"https://doi.org/10.32609/j.ruje.9.104661","url":null,"abstract":"The economic sanctions imposed by the United States, Europe, and other countries since 2014 have heightened the unpredictability and turbulence in the business environment for Russian firms, necessitating exploration of new international partners and transformation of economic relationships. This paper aims to examine the redirection of Russian outward foreign direct investment (OFDI) in the context of these economic sanctions, particularly those intensified since 2022. The analysis employs an estimated econometric model to compare actual and potential levels of OFDI, utilizing a comprehensive database covering 74 origin and 102 destination countries from 2010 to 2019. The estimation technique employs Poisson pseudo-maximum likelihood approaches. The findings indicate that Russian firms demonstrated underinvestment in most regions, except for Northern and Western Europe, during the examined period. The 2014 sanctions resulted in a significant decline in Russian OFDI to the countries imposing sanctions, while there was an increase in OFDI to Asia, the Middle East, and the CIS countries. As anticipated, the 2022 sanctions exerted additional pressure on Russian OFDI, leading to a further shift of their outflows towards Asia and the Middle East, which, however, could not compensate for the sharp decline in OFDI to the EU countries and North America. The results highlight the existence of untapped OFDI potential for Russia in African and Latin American countries as well as in the Middle East. These regions emerge as desirable partners for bilateral economic liberalization. From a policy perspective, the findings emphasize the importance for the Russian Federation to pursue deep trade agreements that encompass investment preferences, public procurement, and the protection of intellectual property rights with regions harboring untapped potential for OFDI. Additionally, expanding government support for domestic firms venturing abroad is crucial to sustain and enhance integration into the global economy, especially in the face of sanctions.","PeriodicalId":36642,"journal":{"name":"Russian Journal of Economics","volume":"6 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89026460","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The effect of FDI on the host countries’ employment: A meta-regression analysis FDI对东道国就业的影响:一个元回归分析

Russian Journal of Economics Pub Date : 2023-07-17 DOI: 10.32609/j.ruje.9.98252

D. R. Hakim, E. Ahman, K. Kusnendi

引用次数: 0

General equilibrium model with the entrepreneurial sector for the Russian economy 具有创业部门的俄罗斯经济一般均衡模型

Russian Journal of Economics Pub Date : 2023-07-17 DOI: 10.32609/j.ruje.9.105790

E. V. Martyanova, A. Polbin

{"title":"General equilibrium model with the entrepreneurial sector for the Russian economy","authors":"E. V. Martyanova, A. Polbin","doi":"10.32609/j.ruje.9.105790","DOIUrl":"https://doi.org/10.32609/j.ruje.9.105790","url":null,"abstract":"This paper proposes a general equilibrium model with the entrepreneurial sector for the Russian economy. The novelty of the model lies in several points. First, the model is a small open economy. Second, it includes the entrepreneurial sector. Third, the model reflects the main features of the Russian economy. Five experiments were conducted, for which steady states and transitions were computed. These experiments included: (1) an export price shock, (2) redistribution of government consumption between the corporate and entrepreneurial sectors, (3) relaxation of collateral requirements, (4) a credit rate subsidy for entrepreneurs, (5) VAT for entrepreneurs. The export price shock results in lower entrepreneurial output due to higher wages in the short run, but in the long run the positive effects of increased demand and assets lead to higher output. Increased government consumption of entrepreneurial goods leads to a reallocation of resources from the corporate sector to the entrepreneurial one. The relaxation of collateral requirements leads to a sharp increase in entrepreneurial investment and capital and a decline in the number of entrepreneurs, which means that they become bigger. The credit rate subsidy leads to an increase in capital in the entrepreneurial sector, and then in output. The cost of subsidies leads to a decrease in lump-sum transfers, but this does not lead to a significant change in household consumption. The introduction of a value-added tax on entrepreneurial goods leads to a redistribution of resources from the entrepreneurial sector to the corporate one, lower household consumption and higher GDP.","PeriodicalId":36642,"journal":{"name":"Russian Journal of Economics","volume":"24 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84449423","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Emerging economies and investment in intellectual capital in crisis time: The case of Russia 危机时期新兴经济体与智力资本投资:以俄罗斯为例

Russian Journal of Economics Pub Date : 2023-04-13 DOI: 10.32609/j.ruje.9.81283

C. Jardon, Xavier Martinez Cobas

引用次数: 0

Measuring climate-credit risk relationship using world input-output tables 利用世界投入产出表衡量气候信用风险关系

Russian Journal of Economics Pub Date : 2023-04-13 DOI: 10.32609/j.ruje.9.83891

H. Penikas, E. Vasilyeva

引用次数: 0

Thirty years of economic transition in the former Soviet Union: Microeconomic and institutional dimensions 前苏联三十年的经济转型:微观经济和制度层面

Russian Journal of Economics Pub Date : 2023-04-13 DOI: 10.32609/j.ruje.9.104761

Marek A. Dąbrowski

引用次数: 0