Voprosy Ekonomiki最新文献_第7页

Macroeconomic effects of the expected future decline in oil revenues for the Russian economy under capital control 预计未来石油收入下降对宏观经济的影响为资本控制下的俄罗斯经济

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Voprosy Ekonomiki Pub Date : 2023-04-05 DOI: 10.32609/0042-8736-2023-4-5-28

M. Andreyev, A. Polbin

{"title":"Macroeconomic effects of the expected future decline in oil revenues for the Russian economy under capital control","authors":"M. Andreyev, A. Polbin","doi":"10.32609/0042-8736-2023-4-5-28","DOIUrl":"https://doi.org/10.32609/0042-8736-2023-4-5-28","url":null,"abstract":"Since the beginning of Special Military Operation in Ukraine, the Russian economy has faced a large number of sanctions from unfriendly states. At the beginning of 2023, Russia’s export revenues remain high. However, there are high risks of revenues decline over the horizon of several years due to restrictions on the part of unfriendly countries. Based on a general equilibrium model for the Russian economy, we analyze the impact of an anticipated shock from a reduction in future energy export revenues. First, the paper shows that the anticipated shock of a fall in export revenues leads to a short-term and medium-term increase in domestic investment. Under a closed financial account, the effect of growth in investment remains even if other export doesn’t react to currency appreciation, while under an open financial account, investment decreases. This indicates the important role of the rainy day savings factor for investment dynamics, when the possibility of savings in external financial markets is limited. Second, in the short and medium term, the impact of revenues decline is highly dependent on whether the financial account is open or closed. Under a closed financial account, the drop in macroeconomic indicators turns out to be sharp and localized in the vicinity of the period of export revenues fall. Third, the central bank’s interest rate moves in exactly opposite directions under inflation targeting regime in response to the unanticipated and anticipated export revenues shock.","PeriodicalId":45534,"journal":{"name":"Voprosy Ekonomiki","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2023-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49101787","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

Alexander Bogdanov’s system methodology from the perspective of the modern economic worldview 从现代经济世界观看波格丹诺夫的系统方法论

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Voprosy Ekonomiki Pub Date : 2023-03-05 DOI: 10.32609/0042-8736-2023-3-24-39

G. Kleiner

引用次数: 0

Efficiency of large cities: Theory and empirics 大城市效率:理论与实证

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Voprosy Ekonomiki Pub Date : 2023-03-03 DOI: 10.32609/0042-8736-2023-3-83-101

L. Melnikova

引用次数: 0

Is it worth limiting the ownership and investment of foreign companies? (Stock market case) 限制外国公司的所有权和投资值得吗？（股市案例）

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Voprosy Ekonomiki Pub Date : 2023-03-03 DOI: 10.32609/0042-8736-2023-3-40-62

A. Nepp

引用次数: 0

How has economic science emerged: Competition of blueprints 经济科学是如何产生的:蓝图的竞争

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Voprosy Ekonomiki Pub Date : 2023-03-03 DOI: 10.32609/0042-8736-2023-3-5-23

О. I. Ananyin

引用次数: 1

The monetization of economy: An indicator that indicates nothing 经济的货币化:一个没有任何意义的指标

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Voprosy Ekonomiki Pub Date : 2023-03-03 DOI: 10.32609/0042-8736-2023-3-126-157

E. Goryunov

{"title":"The monetization of economy: An indicator that indicates nothing","authors":"E. Goryunov","doi":"10.32609/0042-8736-2023-3-126-157","DOIUrl":"https://doi.org/10.32609/0042-8736-2023-3-126-157","url":null,"abstract":"The indicator of monetization of the economy; equal to the ratio of nominal money supply to nominal GDP; is very popular among Russian economists and is used to assess the effectiveness of the monetary policy pursued and is often employed in cross-country comparisons. Many economists believe that the monetization of the Russian economy is excessively low; which reflects the underdevelopment of the national financial system and requires steps towards monetary expansion. According to this view insufficient monetization of the Russian economy is as an obstacle to its rapid development; therefore increase in monetization should be made a key priority of the Bank of Russia’s policy. Although widely accepted; the complex of theories; ideas and assumptions behind these recommendations; however; has never been adequately empirically tested. In this paper we formulate several statements that are shared by the majority of economists in this area; based on a review of relevant publications; and then test the statements on cross-country data. As a result of empirical testing; it was shown that most of the statements are not supported by evidence. The monetization indicator does not carry any additional relevant information about the macroeconomics conditions; having other indicators considered. High monetization does not create additional stimulus for economic growth; and the ability of central banks to affect monetization is limited significantly. In countries with low monetization; inflationary risks of monetary expansion are sharply higher. The conducted empirical study provides arguments against the broad use of the monetization indicator in macroeconomic analysis and casts doubt on the idea of laying responsibility for increasing the level of Russian economy monetization on the Bank of Russia.","PeriodicalId":45534,"journal":{"name":"Voprosy Ekonomiki","volume":"10 1","pages":""},"PeriodicalIF":0.8,"publicationDate":"2023-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69958373","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

New firm formation and regional employment in Russia: Direct and indirect effects 俄罗斯新企业形成与区域就业：直接和间接影响

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Voprosy Ekonomiki Pub Date : 2023-03-03 DOI: 10.32609/0042-8736-2023-3-102-125

D. Salimova, Y. Tsareva, Stepan Zemtsov

{"title":"New firm formation and regional employment in Russia: Direct and indirect effects","authors":"D. Salimova, Y. Tsareva, Stepan Zemtsov","doi":"10.32609/0042-8736-2023-3-102-125","DOIUrl":"https://doi.org/10.32609/0042-8736-2023-3-102-125","url":null,"abstract":"Studies of employment growth factors are more relevant during crises. Review of foreign studies and analysis of Russian data in 2005—2018 using a distributed lag model based on the Almon method shows that there are multidirectional short-term direct and longer-term indirect effects of starting a business on employment growth. The regional context is important; and the prevalence of one effect over another and the direction of influence of additional factors depend on the type of region. Thus; for large agglomerations with high labor productivity and an active SME sector; an S-shaped lag structure of the dependence of employment on the creation of new firms was revealed: with short-term positive; medium-term negative; and further positive effects. For regions with low urbanization; labor productivity and a less active SME sector; the most striking is the short-term positive impact on employment from the opening of firms; which is replaced by a negative one after 2—3 years. At the same time; in the latter regions; the total impact may be higher than in the former; and on average; a new firm (per 1;000 people in the workforce) leads to an increase in employment by 0.56 p.p. This provides grounds for some policy recommendations. ","PeriodicalId":45534,"journal":{"name":"Voprosy Ekonomiki","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2023-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41538668","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

Mortgage lending and housing prices in Russia: Unfounded accusations? 俄罗斯的抵押贷款和房价：无端指责？

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Voprosy Ekonomiki Pub Date : 2023-03-03 DOI: 10.32609/0042-8736-2023-3-63-82

A. Mishura

引用次数: 0

Growth theories: The realities of the last decades (Issues of sociocultural codes — to the expansion of the research program) 成长理论：过去几十年的现实（社会文化密码问题——研究项目的扩展）

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Voprosy Ekonomiki Pub Date : 2023-02-03 DOI: 10.32609/0042-8736-2023-2-18-42

L. Grigoryev, M.-Y. Y. Maykhrovitch

{"title":"Growth theories: The realities of the last decades (Issues of sociocultural codes — to the expansion of the research program)","authors":"L. Grigoryev, M.-Y. Y. Maykhrovitch","doi":"10.32609/0042-8736-2023-2-18-42","DOIUrl":"https://doi.org/10.32609/0042-8736-2023-2-18-42","url":null,"abstract":"This article is aimed at examining institutional approaches to the theories of economic growth, and touches upon especially the influence of sociocultural codes on the development of the world economy. The presented study compares the rates of economic growth, taking into account various classifications of count- ries according to Angus Maddison, Ronald Inglehart, and the cluster approach. One of the main results is a proposal to move from the dichotomy and study of “advanced—emerging states” over long time periods, used in Maddison’s research, to the study of subgroups of countries, including cluster analysis, over a more compact period — 1992—2019. With the help of clustering, it was concluded that the group of the most developed countries retains an advantage in the level of development but does not demonstrate growth rates higher than the “catching up” groups. Thus, the convergence of levels of development does not actually occur. The article also illustrates that a disaggregated analysis of growth by clusters creates interesting opportunities for a further development of the research program.","PeriodicalId":45534,"journal":{"name":"Voprosy Ekonomiki","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2023-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41734755","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: 2

Meso-institutions for digital ecosystems 数字生态系统的Meso机构

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Voprosy Ekonomiki Pub Date : 2023-02-03 DOI: 10.32609/0042-8736-2023-2-61-82

A. Shastitko, A. Kurdin, I. N. Filippova

{"title":"Meso-institutions for digital ecosystems","authors":"A. Shastitko, A. Kurdin, I. N. Filippova","doi":"10.32609/0042-8736-2023-2-61-82","DOIUrl":"https://doi.org/10.32609/0042-8736-2023-2-61-82","url":null,"abstract":"The importance of digital ecosystems in the economy is growing rapidly as more and more companies and consumers are involved in their circuit. At the same time, the regulation relevance is growing too, as evidenced by many antitrust cases involving companies such as Yandex, Google, Microsoft, which constitute the core of the respective ecosystems. The very concept of digital ecosystems does not have a generally accepted definition. However, national and supranational regulators must resolve disputes between the leader of the ecosystem and the complementary companies, as well as protect the interests of an indefinite number of persons (with the application of antitust law). Such disputes resolution leads to the fact that the regulator has to make decisions about the rules of interaction within the complex structure of relationships between all participants in ecosystems, de facto defining a framework for establishing institutional agreements. This paper proposes to apply the concept of “meso-institution” for some ecosystems rules, separating them from both hybrid institutional agreements (micro-level rules) and the institutional environment (macro-level rules). It is assumed that meso-institutions are a key element for digital ecosystems successful development. Using the example of companies and antitrust cases, the formation and evolution of meso-institutions, the capability of their design, and the regulator’s role are shown. The application of the meso-institutions concept makes it possible to justify the shift of focus of antitrust regulation in the field of digital ecosystems towards their self-regulation rather than strengthening legislative regulation.","PeriodicalId":45534,"journal":{"name":"Voprosy Ekonomiki","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2023-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43713884","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