Journal of Institutional Studies最新文献

{"title":"Wellbeing of Russian Professionals: Dynamics and Specificity","authors":"E. Slobodenyuk","doi":"10.17835/2076-6297.2021.13.4.040-058","DOIUrl":"https://doi.org/10.17835/2076-6297.2021.13.4.040-058","url":null,"abstract":"The paper is devoted to the issue of Russian professionals' life changes in the 2010s and the role of human capital in these processes. Life changes are analyzed by identifying mobility cases within three social stratifications by income, presence of signs of privilege or deprivation, and subjectively perceived position in society. For these purposes, we use panel data of RLMS HSE research for 2014-2018 yy. Trajectories of mobility are revealed by using of «Group based trajectory modeling» method. The results show that life stability dominates over mobility. Professionals still have risks of chronic poverty and chronic deprivation, although these risks are rare for them. They also have chances of objectively measuring sustainable well-being by income and privilege criteria. However, even those who have stayed rich and privileged over the years do not feel that they occupy the highest positions in social structure. It is shown that human capital plays a high role in life chances on sustainable privilege and a high-income level. An obstacle on the path to wealth is the dependency burden. The highest risks of poverty characterize young and middle-aged professionals, while professionals who reach retirement age have the highest chances to be rich. Thus, it is a good strategy to continue labor activity in retirement age. It was revealed that parental education significantly increases chances to achieve privilege position in Russian society. These odds are heavily influenced by composite rents. It is also shown that one of the major factors that create unequal chances of gaining high position in society (both in terms of income and privilege) is settlement inequalities. Despite a quite prosperous life dynamics measured by objective indicators, every third professional feels chronically poor or felt a sharp impoverishment during these years. These subjective assessments are weakly correlated with the quality of human capital and observed in all age categories. We associate this phenomenon with two factors: 1) \"negative stabilization\" in the 2010s and 2) with the fact that chances for objective well-being are confined mainly to the structural factor of settlement inequality. The position of professionals is often contradictory. The groups of privileged and wealthy professionals have little overlap in composition. In modern Russia, wealth does not imply a privileged position in society and vice versa. The same is true for poverty and deprivation. Absolute well-being, i.e., stable occupation of the highest positions in all three structural positions, is practically unavailable to Russian professionals.","PeriodicalId":43842,"journal":{"name":"Journal of Institutional Studies","volume":"111 3S 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2021-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83738643","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 Economy of The Song Dynasty or The Experience of Failed Modernization: The Boundaries of Institutional Corridors","authors":"M. Kruglova","doi":"10.17835/2076-6297.2021.13.4.101-111","DOIUrl":"https://doi.org/10.17835/2076-6297.2021.13.4.101-111","url":null,"abstract":"The article contributes to institutional matrices theory (Kirdina, 2011). On the reforms carried out in China during the Song Dynasty in the second half of the XI century, the hypothesis of the existence of so-called \"institutional corridors\" is considered. The \"institutional corridor\" implies a space limited by a set of certain institutions that define the principles of decision-making and the boundaries of institutional environment reform. The article briefly describes the economic situation of China during the Song dynasty, analyzes the main reforms carried out by the first Minister of the empire Wang Anshi and the reasons for their failure. The concept of jing ji is analyzed. Jing ji assumes an integrated approach to regulating the economy in China, based on Confucian ethics' moral and ethical concepts. The concept of jing ji has become the main one in regulating the economy in China. It is concluded that Confucian ideology during the implementation of the Wang Anshi reforms became the defining boundary of the \"institutional corridor\" of the variable that predetermined the failure of the reforms. The reforms of Wang Anshi, often called a Proto-Keynesian, went beyond the ideological \"institutional corridor\" and were therefore doomed to failure.","PeriodicalId":43842,"journal":{"name":"Journal of Institutional Studies","volume":"2012 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2021-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86410954","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":"New «Old» Institutionalisation of Money Circulation in Post-Soviet Russia","authors":"S. Kirdina-Chandler","doi":"10.17835/2076-6297.2021.13.4.006-024","DOIUrl":"https://doi.org/10.17835/2076-6297.2021.13.4.006-024","url":null,"abstract":"For the study of the institutionalization of money circulation in post-Soviet Russia, an institutional-evolutionary approach was used, based on the ideas of Thorstein B. Veblen and Joseph A. Schumpeter, as well as John R. Commons. The object of the analysis was the institutional structures of money circulation, which are the most significant from the public interest point of view. The paper compares the results of the institutionalisation of money circulation in the USSR and post-Soviet Russia. Particular attention is paid to the analysis of transitional periods. In transitional periods there was a rejection, filtration, and correction of institutional forms of money circulation in terms of their compliance with public goals to develop the country's socio-economic system. The following features of the institutional design of the Soviet model are identified: first, the presence of a single-link, a hierarchical, centralized banking system with the concentration of the entire payment turnover system in the State Bank of the USSR; second, the existence of a \"three-circuit system\" of money turnover with cash for servicing the turnover of consumer goods, non-cash money for industrial consumption (investment) and convertible rubles for international export-import payments; third, the division of money turnover was supported by the creation of special banking institutions for servicing each of them, controlled by the State Bank of the USSR - the \"State Labour Savings Banks\", \"Stroybank\" and \"Vneshtorgbank\", respectively; fourth, the institutions of money circulation were an internal element of the system of the planned national economy of the USSR and were organically integrated into it. The institutionalisation of money circulation in post-Soviet Russia is characterized by the presence of new (albeit previously represented in the history of our country) institutions and has the following features: first, a two-tier banking system, the upper level of which is represented by the Central Bank of Russia, and the lower level is represented by banks and non-banking credit institutions; second, organizations of various forms of ownership operate in the sphere of money circulation, while state forms of ownership are playing an increasingly significant role; third, there is a stock exchange where stocks, bonds, currencies and other instruments of the money market are traded. The official exchange rate set by the Central Bank of Russia is based on stock quotes; fourth, the Federal Treasury operates to mediate the movement of budgetary funds. An additional element of control over their use is the introduction of \"treasury accounts\", to which budget funds are transferred and from where they are used for the implementation of state development programs. As a result, one can see that the process of institutional renewal of money circulation in post-Soviet Russia is associated with the return to a number of institutions characteristic of pre-revolutionary and Soviet h","PeriodicalId":43842,"journal":{"name":"Journal of Institutional Studies","volume":"62 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2021-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80566569","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":"Institutes of Financial Socialization of Russian Students","authors":"M. Malkina, D. Rogachev","doi":"10.17835/2076-6297.2021.13.4.126-139","DOIUrl":"https://doi.org/10.17835/2076-6297.2021.13.4.126-139","url":null,"abstract":"The paper examines the factors influencing the financial socialization of Russian students. It provides an overview of research on the impact of family institutions (parental household), financial independence, and the maturity of financial behavior on the financial socialization of young people. We analyze the relationships between basic socio-demographic characteristics of Russian students (gender, age, marital status), their behavioral characteristics (risk preference, propensity for offense or unethical behavior, prodigality, credulity), and socio-economic characteristics (level of financial status, financial independence, financial maturity). The empirical part of the study is based on the data of the author's survey of 1291 students from 17 Russian universities, processed by methods of statistical, correlation, and econometric analysis. To assess the level of financial well-being, we develop an original methodology where the financial situation shows the availability of goods and services that are unaffordable to most members of this group. Likewise, financial maturity is the students' proficiency in financial instruments poorly mastered by the majority of other respondents. The survey revealed a significant financial dependence of Russian students on their parents and their low level of financial maturity. We found an increased level of credulity and a low level of propensity for offense or unethical behavior; established positive correlation between the risk preference and the propensity for offense or unethical behavior, between the level of credulity and prodigality. We established that as financial dependence on parents gradually decreases, young people make more mature financial decisions, and their growing risk preference is replaced by a shift to more prudent financial practices. In groups where young people provide for themselves, their assessments of their financial situation rise sharply from a certain point, and the level of prodigality decreases. The constructed model of ordered logit regression showed a significant positive effect of age, marital and employment status, risk preference and level of financial maturity, as well as a significant negative effect of prodigality and credulity on financial independence of Russian students. The research results are applicable for the further development of theoretical and methodological approaches to the study of effective financial behavior of young people and the management of student financial socialization processes.","PeriodicalId":43842,"journal":{"name":"Journal of Institutional Studies","volume":"17 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2021-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79754125","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 Institute of Community in The Works of N.I. Sieber","authors":"A. Dubyansky","doi":"10.17835/2076-6297.2021.13.4.091-100","DOIUrl":"https://doi.org/10.17835/2076-6297.2021.13.4.091-100","url":null,"abstract":"This article examines the views of the Russian economist Nikolai Ivanovich Sieber on community relations both in Russia and abroad. Sieber, as is known, is the first Russian follower of Marx, who assimilated his theory in all its complexity and dialectical inconsistency. However, in this article, the main attention is paid to the position of Sieber in relation to the peasant community. If Sieber was a consistent apologist for Marx's theory, without introducing his own ideas into it, then scholar seems to be completely independent with his own point of view in matters of the community. In the community context, he argued with the narodniks, particularly with V. P. Vorontsov, about the ways of developing the Russian economy. Should it develop based on the preservation and development of the peasant community, artels, as opposed to the creation of large-scale capitalist production in Russia, or should the country strive to create a capitalist economy in which there is no place for community relations? Sieber refuted the narodnik concept of a special way of development of Russia and defended the Marxist idea that capitalism is an objective stage in the development of society and, therefore, inevitable.","PeriodicalId":43842,"journal":{"name":"Journal of Institutional Studies","volume":"100 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2021-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76181095","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":"Gender Aspects of Reproduction of Professional Dynasties in Medicine","authors":"Lyudmila V. Klimenko, Oxana Posukhova","doi":"10.17835/2076-6297.2021.13.3.144-157","DOIUrl":"https://doi.org/10.17835/2076-6297.2021.13.3.144-157","url":null,"abstract":"The number of female health workers is predominant in the current health care system. However, in terms of the distribution of power and authority, career trajectories, and the culture of relationships, medicine still remains gender-related to men. Reproduction processes of the professional structure of medicine, in which professional dynasties occupy a special place, is also marked by gender differences. Thus, the article addresses the gender specificities of the institutional reproduction of medical dynasties in modern Russia. Based on in-depth interviews with twenty representatives of multigenerational families of doctors from ten cities, gender scenarios for the transmission of professional positions and the gender specificity of using the social and symbolic capital of the dynasty in the context of their reproduction are analyzed. According to the empirical research findings, the dynastic model of marital status transfer maintains and reproduces gender inequality in the medical profession. There is low gender sensitivity in doctors’ dynasties, where women are more likely to be passive or under family pressure to pursue educational and work tracks. The choice of professional specialization is conditioned by gender stereotypes. Career and professional opportunities of women doctors are limited by an imbalance between work and home responsibilities. Dynasty social and symbolic capital investment strategies are less resourceful for women in clinical practice and more effective in academic medicine. The deconstruction of the traditional gender display in the profession is proceeding at a slow pace, while medical dynasties continue to rather reproduce the inequality and male ethics of the medical profession.","PeriodicalId":43842,"journal":{"name":"Journal of Institutional Studies","volume":"9 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2021-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81821318","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":"Regional Development Corporations: Foreign Experience and Russian Practice","authors":"A. Gousev, M. Yurevich","doi":"10.17835/2076-6297.2021.13.3.69-80","DOIUrl":"https://doi.org/10.17835/2076-6297.2021.13.3.69-80","url":null,"abstract":"The article is focused on the chronology and classification of territorial development agencies (corporations) as an instrument of state regional policy. The paper shows the threat of transformation of the potentially constructive role of corporations into a negative plane. The example of Poland illustrates the EUʼs intervention in the countryʼs internal affairs through regional development corporations as contact points. In Kazakhstan, the first wave of social and entrepreneurial corporations, which were created in 2006–2007 on an extraterritorial basis, caused an internal conflict between the elites, which led to the reformatting of this institution and its subordination to the existing system of regional management (“one district – one region”). The pluralism of approaches to the formation of a network of regional development corporations (“bottom-up” – “top-down”, monoterritoriality – extraterritoriality, etc.) provides opportunities for managerial experimentation, the results of which in the territory of the Russian Federation were expressed in the mass of economic and managerial structures at the federal and regional levels. At the same time, the macroeconomic success of their joint activities remains unclear. For the Russian Federation, the model of consolidation and development of the internal economic space on the basis of corporations of macroregions representing a set of neighboring subjects of the Russian Federation and historically having economic ties of varying degrees of breadth and strength seems appropriate. The model under consideration is based on a new institution of state ownership (macroregion ownership), which allows solving the problems of economic integration of territories by building extraterritorial production and economic complexes.","PeriodicalId":43842,"journal":{"name":"Journal of Institutional Studies","volume":"20 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2021-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86937894","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":"Coase’s Transactional Principle in The Light of System Economic Theory","authors":"G. Kleiner, Central Economics","doi":"10.17835/2076-6297.2021.13.3.006-019","DOIUrl":"https://doi.org/10.17835/2076-6297.2021.13.3.006-019","url":null,"abstract":"The problem of optimization of transaction costs is investigated in the article from system economic theory. The concept of a transaction is interpreted as an interaction that affects the products’ seller and the products’ buyer and the immediate system environment of each of them. The representation of such an environment in the form of a tetrad, which is a relatively stable complex of four basic subsystems of object, project, process, and environmental types, makes it possible to trace the consequences of the transaction impulse in the economic zone of the seller and the buyer. Based on the systemic expansion of the concept of transaction, we analyze the transaction costs and benefits arising from the transaction in all four subsystems of the internal space of the firm and its immediate external environment. When formulating the modified Coase’s transactional principle, which determines the optimal size of a firm depending on the ratio between transactional (external) and administrative (internal) costs, we take into account the change in the firm’s “effect of influence” on the immediate environment as boundaries of the firm expand. Considering the “effect of influence” becomes especially important in the context of the growing development of the ecosystem form of organizing economic interaction, characterized by an increased density and tightness of intersubjective relations within the ecosystem. Attention is drawn to the positive aspects of “institutional friction” in the economy, which allows a new approach to determining the optimal level of transaction costs. The expediency of considering the “double tetrad” as a combination of the seller’s tetrad and the buyer’s tetrad as a system unit of market analysis is substantiated.","PeriodicalId":43842,"journal":{"name":"Journal of Institutional Studies","volume":"47 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2021-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79328026","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 The Reinsurance Institute on The Financial Results of Insurance Companies","authors":"M. Polyakova, K. Polyakov","doi":"10.17835/2076-6297.2021.13.3.117-130","DOIUrl":"https://doi.org/10.17835/2076-6297.2021.13.3.117-130","url":null,"abstract":"Risk management is one of the biggest challenges for financial market participants, in particular for the insurance companies. To solve this problem, the regulator and the insurance market have created a number of institutions, one of which is the institution of reinsurance. Institutions contribute to the solution of problems arising due to the limited rationality and opportunism of participants of contract processes. By use of these institutions organizations have an opportunity to reduce the “ex post” and “ex ante” transaction costs associated with contracts. At the same time, institutions only determine the rules and goals. The organization’s tactics and the way of fulfilling the requirements are completely controlled by its leadership of all levels, which also defines the role of institutions in solving other important business tasks, such as ensuring its efficiency and sustainability. The sustainability and efficiency of the insurance business significantly depends on proper risk management. This study analyses how the use of reinsurance institution as a part of risk-management affects the financial results of insurance companies. The insured events specified in contracts may not occur during their validity period, and one can suppose that in the short-term perspective reinsurance generates mostly outgoing cash flows, which affect the efficiency, solvency and liquidity of the organization. So the aim of the study is to analyse the impact of reinsurance intensity estimated by the share of premium transferred to the reinsurer on the specific financial characteristics of Russian insurance business. As a result, it was revealed that in the short term the impact is significantly negative: the use of reinsurance leads to decrease in financial performance of domestic insurance organizations. This result, of course, does not diminish the significance of reinsurance for risk-management, but it should be taken into account within financial planning and actuarial activities. For completeness, the relationship of various financial indicators with efficiency, solvency and liquidity of insurance companies was also analysed. In particular, it was shown that a change in the influence strength of a number of financial management tools affect above mentioned characteristics. We also noted the need to consider the nonlinear nature of relationships between financial indicators used in study in processes of forecasting and management.","PeriodicalId":43842,"journal":{"name":"Journal of Institutional Studies","volume":"7 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2021-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87751415","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":"Empirical Analysis of Opportunism Based on Data on University Students of Different Courses","authors":"I. Rozmainsky, Vilina R. Shegay","doi":"10.17835/2076-6297.2021.13.3.053-068","DOIUrl":"https://doi.org/10.17835/2076-6297.2021.13.3.053-068","url":null,"abstract":"The article is devoted to the New Institutional analysis of the factors of opportunism among students of different courses. The analysis is based on a survey in which 231 students from the Higher School of Economics and other Russian universities took part from February to May 2021. Econometric modeling is based on Latent class analysis, which allows the identification of unobservable groups based on the observed categorical variables presented. One of the main findings of the research is that fourth year students are less prone to opportunism than first, second and third year students. This can be explained by the higher opportunity costs of cheating among fourth year students and their greater independence, primarily financial. In addition, students who are motivated primarily to obtain knowledge (mastery) show a lesser inclination towards opportunism compared with students whose main motive is the degree (performance). Furthermore, a higher level of rationality, both in a general sense and in relation to budget planning, is reflected in a greater tendency to dishonest behavior. Finally, more honest behavior outside the university is combined with more dishonest academic behavior. The latter can be explained by the fact that it is psychologically more difficult to commit an immoral act in relation to a loved one than to do so in an academic environment, when you deceive a not personally familiar person and not even a specific person. Thus, on the basis of the analysis carried out, it can be understood under what conditions the student environment will be characterized by a higher propensity for opportunism and, accordingly, a lower rate of human capital accumulation.","PeriodicalId":43842,"journal":{"name":"Journal of Institutional Studies","volume":"24 1","pages":""},"PeriodicalIF":0.6,"publicationDate":"2021-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83057424","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}