G. Safonov, V. Potashnikov, M. Safonov, A. Stetsenko, M. Kozeltsev, A. L. Dorina, A. A. Semakina, A. Sizonov
{"title":"The prospects for ecological modernization of Russian economy","authors":"G. Safonov, V. Potashnikov, M. Safonov, A. Stetsenko, M. Kozeltsev, A. L. Dorina, A. A. Semakina, A. Sizonov","doi":"10.31737/2221-2264-2022-56-4-9","DOIUrl":"https://doi.org/10.31737/2221-2264-2022-56-4-9","url":null,"abstract":"Development of the Russian economy over the last 20 years was based on intensive exploitation of natural resources that has led to a signifi cant increase of negative impacts on the environment, including growth of pollution and emissions of greenhouse gases. The environmental problems are also worsening on the global level, and the international community adopted several treaties aimed at reaching the goals of sustainable, socially, and environmentally balanced development. The “green” transformation of world economy leads to the fundamental changes in energy, industries, transport systems, switch to the eco-friendly business models, orientation of fi nancial fl ows and investments towards decarbonization of world economy. Phasing-out of fossil fuels and pollution-intensive products may result in signifi cant losses of export revenues, lack of access to capital and investment for Russia, if the ecological modernization of its economy would not happen. The projections based on TIMES model showed that Russia is capable to reduce greenhouse gas emissions by 75–88% below 1990 level by 2050, while GDP per capita would increase threefold. It would ensure reaching the carbon neutrality goal by 2060 and compliance with the international commitments under the ecological conventions and agreements.","PeriodicalId":43676,"journal":{"name":"Zhurnal Novaya Ekonomicheskaya Assotsiatsiya-Journal of the New Economic Association","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69824800","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}
{"title":"Pharmaceutical industry in Russia: Key trends and developments","authors":"N. Ivanova, Z. Mamedyarov","doi":"10.31737/2221-2264-2022-53-1-15","DOIUrl":"https://doi.org/10.31737/2221-2264-2022-53-1-15","url":null,"abstract":"The paper considers the specifics of innovation activity and scientific and technological development in R&D intensive pharmaceutical industry. A generalized comparison of Russian and foreign pharmaceutical industry during the current COVID-19 pandemic is carried out. The dynamics of the domestic pharmaceutical market development is analyzed; the trends and persisting problems are studied. The potential of growth of domestic pharmaceutical industry with adequate interaction of state and business in entering the world markets was shown. It is pointed out that both abroad and in Russia during the pandemic the industry became one of the few where research costs had increased significantly. The paper shows that support policy for pharmaceutical industry in Russia over the next 10 years will be emphasized on the creation of own innovative drugs (including biotech types), and generics for the domestic market. The new ways of production and digitalization of the pharmaceutical industry remain outside the current support measures.","PeriodicalId":43676,"journal":{"name":"Zhurnal Novaya Ekonomicheskaya Assotsiatsiya-Journal of the New Economic Association","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69822087","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}
{"title":"Creative economy of the paternalistic state: What does the coming day hold for us?","authors":"А.Ya. Rubinstein","doi":"10.31737/2221-2264-2022-54-2-11","DOIUrl":"https://doi.org/10.31737/2221-2264-2022-54-2-11","url":null,"abstract":"The paper presents the author’s view on the formation of economics of culture which was acceded to the neoclassical theory as a branch science only in the second half of XXth century with the inherent law of «price disease» causing deficiency of income of cultural goods producers. The present stage of the development of this science is determined by the modern theory of economic growth where the hypothesis of dependence of total factor productivity on intangible assets is presented as an innovation allowing discovering inner resources of culture and other creative economy branches which fundamentally change their position in the economic world. The question is about the economic valuation of the results of cultural activity, including copyrights that were transformed into intellectual property. At the same time, the article formulates a contrary assessment of the concept of cultural industries, which can only become an additional reason for the financial authorities to reduce the amount of budget subsidies to producers of cultural goods.","PeriodicalId":43676,"journal":{"name":"Zhurnal Novaya Ekonomicheskaya Assotsiatsiya-Journal of the New Economic Association","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69822334","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}
{"title":"The impact of financial development on income inequality in the Russian regions","authors":"O. A. Klachkova, D. O. Solonina","doi":"10.31737/2221-2264-2022-54-2-5","DOIUrl":"https://doi.org/10.31737/2221-2264-2022-54-2-5","url":null,"abstract":"This paper examines the factors of income inequality, among which financial development is under the spotlight. The degree of financial sector development determines ease of borrowing for population and their access to higher education, impacts entrepreneurial activity. Mixed empirical implications on the link between finance and inequality and lack of research conducted for the Russian regions explain the motivation of this paper. Regional financial system is characterized by financial depth indicators, a ratio of consumer credit to regional GDP and of consumer deposits to regional GDP along with the statistics on opened bank accounts. Estimations obtained using a panel dataset and models with different dependent variable provide evidence that the level of development of the financial sector has a significant impact on income inequality in the Russian regions. The empirical implications suggest that inequality tends to be positively associated with the volume of consumer loans. Nevertheless, increased placement of consumer deposits and improvement in bank infrastructure cause reduction in income inequality.","PeriodicalId":43676,"journal":{"name":"Zhurnal Novaya Ekonomicheskaya Assotsiatsiya-Journal of the New Economic Association","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69823054","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}
{"title":"The effects of additional non-stationary processes on the properties of DSGE-models","authors":"A. Votinov","doi":"10.31737/2221-2264-2022-55-3-2","DOIUrl":"https://doi.org/10.31737/2221-2264-2022-55-3-2","url":null,"abstract":"DSGE models are based on the trend-cycle decomposition. The standard approach implies an out-of-model decomposition of the data, in which the trend component is discarded, and the parameters of the model are estimated on the cyclic one. This approach can lead to the loss of statistical information and reduce the quality of the model, which is crucial for practical purposes. The study suggests adding several sector-specifi c exogenous non-stationary processes to the model, which complement the standard DSGE model. The in-model detrending is described, and an approach to GMM-estimation of the non-stationary processes’ parameters is proposed. Several results are obtained. First, the inclusion of such non-stationary processes in the model increases the marginal density and improves the accuracy of forecasting within the sample. This result is robust to the inclusion of measurement errors in the model. Secondly, it is shown that the addition of exogenous trends allows obtaining a more plausible decomposition of data into a trend and a cycle. Finally, the use of the GMM approach to estimating the trends’ parameters makes possible to increase the marginal density. The results obtained in the paper can be used to create practice-oriented DSGE models.","PeriodicalId":43676,"journal":{"name":"Zhurnal Novaya Ekonomicheskaya Assotsiatsiya-Journal of the New Economic Association","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69823351","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}
{"title":"Financial sector efficiency: Present concepts and the estimation problem","authors":"Y. Danilov","doi":"10.31737/2221-2264-2022-57-5-5","DOIUrl":"https://doi.org/10.31737/2221-2264-2022-57-5-5","url":null,"abstract":"This article presents classification of existing concepts of the efficiency of the financial sector. Proposed the hypothesis that assessments of the microeconomic and informational efficiency of the financial sector are fundamentally based on the concept of transaction costs. Suggested a number of indicators for assessing the macroeconomic efficiency of the financial market and their approbation on the Russian data. We identified four areas for assessing the effectiveness of the financial sector, differing in the level of consideration, recognition of the principle of rationality, accounting for transaction costs: assessing the macro-efficiency of the financial sector; information-efficient market hypothesis; the concept of adaptive markets. The assumption is formulated that the concepts studying the efficiency of financial systems at the micro level, as well as the efficient market hypothesis, are based on the principle of minimizing transaction costs. While there is a significant theoretical backlog on the issue of macroeconomic efficiency of the financial sector, there is a shortage of quantitative estimates, so we tried to offer a number of such indicators, focusing on the functions of financial markets in a developing economy. The article constructs the estimates of the macroeconomic efficiency of the Russian financial market from two sides of the process of transforming savings into investments (attracting investments by enterprises and placing savings by households).","PeriodicalId":43676,"journal":{"name":"Zhurnal Novaya Ekonomicheskaya Assotsiatsiya-Journal of the New Economic Association","volume":"124 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69824977","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}
{"title":"Phillips curve: Infl ation and NAIRU in the Russian regions","authors":"D. A. Orlov, E. Postnikov","doi":"10.31737/2221-2264-2022-55-3-4","DOIUrl":"https://doi.org/10.31737/2221-2264-2022-55-3-4","url":null,"abstract":"Price stability is one of the strategic goals of the monetary policy of the Bank of Russia. A significant factor of inflationary pressure on the economy is short-term deviations of the unemployment rate from NAIRU. At the same time, the relationship between the labor market and inflationary processes at the regional level may differ significantly. This paper examines regional heterogeneity in the Russian labor market in the form of a Phillips curve. An important feature for choosing the main research method is the lack of statistical information about NAIRU. Based on the models of unobservable components using the Kalman filter, the influence of the unemployment gap on inflation in each region of the Russian Federation is estimated. The constructed models take into account the impact on inflation of the main premises of the theory of rational expectations, supply shocks and inflation lags. Conclusions were drawn that there is a significant relationship between the unemployment gap and inflation for most of the Russian regions, while the sensitivity of inflation to changes in the labor market in the country as a whole is rather weak. Regions with proinflationary and disinflationary influence from the labor market were identified.","PeriodicalId":43676,"journal":{"name":"Zhurnal Novaya Ekonomicheskaya Assotsiatsiya-Journal of the New Economic Association","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69823586","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}
М. А. Карцева, РАНХиГС, Москва, П. О. Кузнецова, М. А. Карцева, П. О. Кузнецова, Журнал Нэа
{"title":"Stay healthy – will the rest follow? The impact of health on wages in Russia","authors":"М. А. Карцева, РАНХиГС, Москва, П. О. Кузнецова, М. А. Карцева, П. О. Кузнецова, Журнал Нэа","doi":"10.31737/2221-2264-2022-57-5-4","DOIUrl":"https://doi.org/10.31737/2221-2264-2022-57-5-4","url":null,"abstract":"In this article, we analyze the impact of health on wages in Russia in 2012–2019, using the data from the RLMS-HSE survey. As a measure of health impact we consider hour wages. Health is estimated by means of self-assessed health data. We use a Minсer-type wage equation. To take into account self-selection, we use the Heckman procedure to deal with the unobservable heterogeneity; we employ the panel structure of the RLMS-HSE data. The impact of health on hour wages in Russia is significant, but not great: good and very good health corresponds to an increase in earnings of 2–5% compared to average health for men and 1–3% for women. Bad health significantly reduces wages, but when self-selection is taken into account, its effect becomes insignificant. The impact of health on wages is markedly increased for groups with a low level of education, which, in our opinion, may indicate a greater importance of health for unskilled and physical labor. The robustness of our results was tested using an alternative data source.","PeriodicalId":43676,"journal":{"name":"Zhurnal Novaya Ekonomicheskaya Assotsiatsiya-Journal of the New Economic Association","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69824908","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}
{"title":"A paternalistic state and civil society","authors":"Горячая тема, Журнал Нэа, А. Е. Городецкий","doi":"10.31737/2221-2264-2022-57-5-9","DOIUrl":"https://doi.org/10.31737/2221-2264-2022-57-5-9","url":null,"abstract":"The society consists of many different groups of people interacting with each other, civil society and the state, the paternalistic form of which is not a phenomenon of recent centuries. Although the term emerged much later, the phenomenon itself emerged in early history, essentially simultaneously with the formation of families with their patriarchal paternalism. The transfer of the household form of paternalism to the state laid the foundation for the future paternalistic state. At the same time, modern state paternalism differs, as a rule, from the patriarchal model, firstly, by the collective nature of the generation of state interests — the public choice and, secondly, by the democratisation of the very process of formation of these interests. The theoretical and historical analysis provides basis for examining the process of evolution of the paternalistic state with its inherent risks of distorting public choice. The article identifies six stages in the evolution of the state and formulates the fundamental reasons for the failure of society, the state which allows the choice of goals of the paternalistic state that do not correspond to the interests of society, and erroneous strategies for their realisation. The analysis suggests that, having failed to create a mature civil society, for most of the thirty years after socialism the country has lived in conditions of sliding down to the fourth phase of paternalistic state evolution, to its decline and uncertainty of the future.","PeriodicalId":43676,"journal":{"name":"Zhurnal Novaya Ekonomicheskaya Assotsiatsiya-Journal of the New Economic Association","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69825273","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}
{"title":"Decision making on the technology transfer in regional innovation cluster under uncertainty and risk","authors":"V. Chaplygin, V. Moroz","doi":"10.31737/2221-2264-2022-53-1-6","DOIUrl":"https://doi.org/10.31737/2221-2264-2022-53-1-6","url":null,"abstract":"Regional innovative clusters unite various organizations related to high-tech industries, which is located in concrete region, on the basis of cooperative activity, common interests and complementarity to their functions, resources and capabilities. This accelerates research and development processes and provides market entry of final product that is of fundamental importance for competitiveness of manufactured product as well as of regional innovative cluster as a hole and region of its location. The paper aims to develop methods and recommendations on technology transfer in regional innovation cluster as a tool for optimization of risks of its innovation activity. They include the development of the methodology for decision making on transfer of technology in innovation cluster under uncertainty and risk. As a result, we made calculations on the conditional example, in accordance with proposed methodology. In conclusion, application of proposed methodology in regional innovation cluster allows to optimize risks at the stage of implementation of developed technology in the manufacturing of final product and to accelerate its market entry that can be considered as a factor of regional economic competitiveness.","PeriodicalId":43676,"journal":{"name":"Zhurnal Novaya Ekonomicheskaya Assotsiatsiya-Journal of the New Economic Association","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69822018","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}