Showing papers in "Voprosy Economiki in 2008"
Journal Article•
TL;DR: In this article, the authors propose an approach to deal with the problem of the lack of information in the context of data sharing: дана оценка перспектив развития интеграционных процeссов науки и обра-�ованiя в
Abstract: В статье дана оценка перспектив развития интеграционных процессов науки и образования в российских вузах.
849 citations
TL;DR: In this article, a concept of habit derived from pragmatist philosophy and sociology and from Veblenian institutional economics is used to explain how processes of habituation provide a mechanism of "reconstitutive downward causation" where institutional circumstances may affect individual preferences.
Abstract: The author claims that the conceptualization of the relation between individual and structure is central to social science. This paper overviews some recent developments in the social theory of structure and agency, and makes a novel addition, based on a concept of habit derived from pragmatist philosophy and sociology and from Veblenian institutional economics. The author shows how processes of habituation provide a mechanism of ‘reconstitutive downward causation’ where institutional circumstances may affect individual preferences. Finally, special characteristics of organizations are discussed, endorsing an evolutionary analytical approach that combines insights from both evolutionary economics and organization science.
133 citations
TL;DR: In this paper, the authors considered public-private partnerships (PPP) as a variant of interaction between the state and private entrepreneurship and focused on the problem of property rights redistribution that is aroused inevitably within a framework of the PPP projects.
Abstract: The article considers public-private partnerships (PPP) as a variant of interaction between the state and private entrepreneurship. Special emphasis is placed on the problem of property rights redistribution that is aroused inevitably within a framework of the PPP projects. Some particular PPP forms are considered as the alternatives to full-scale privatization. Another aspect of the analysis concerns the redistribution of sovereign power functions of the state in some PPP models. The author assumes the principal difference between the public and civil functions of the state in the course of the economic turnover. The article deals with various models and concrete mechanisms of the PPP as well as with instruments for promotion of the partnerships projects.
45 citations
Posted Content•
TL;DR: The article shows that a model is a representation of something beyond itself in the sense of being used as a representative of that something, and in prompting questions of resemblance between the model and that something.
Abstract: The article shows that a model is a representation of something beyond itself in the sense of being used as a representative of that something, and in prompting questions of resemblance between the model and that something. Models are substitute systems that are directly examined in order to indirectly acquire information about their target systems. An economic experiment is an arrangement seeking to isolate a fragment of the world by controlling for causally relevant things outside that fragment. It is suggested that many theoretical models are (‘thought’) experiments, and that many ordinary experiments are (‘material’) models. The major difference between the two is that the controls effecting the required isolation are based on material manipulations in one case, and on assumptions in the other.
24 citations
TL;DR: In this article, the authors considered alternative variants of strategy formation: modernization from above and an approach based on the interaction of coalitions of interests, and suggested that a system of interactive control of growth be designed.
Abstract: The article considers alternative variants of strategy formation: "modernization from above" and an approach based on the interaction of "coalitions of interests". To use the advantages of both approaches, it is suggested that a system of interactive control of growth be designed. It should be founded on procedures of compromise making and concerted efforts of the state and "coalitions of actions" such as business and consumers’ associations and trade unions that are already partially organized in Russia. The most important goal of the system is to work out mutually consistent plans of development for different economy sectors. At the first stage, the plans have to ensure fast economic growth by adaptation of western methods and technologies and gradual improvement of institutions as well. These conclusions follow from the analysis of policies of "economic miracle" countries and the theory of reform recommendations.
21 citations
TL;DR: In this article, main steps to minimize the costs of the crisis should deal with limiting protectionism growth, coordinating measures of economic policy and preventing a hard landing of a large group of economies.
Abstract: Main factors and development of the global financial crisis-2008 are generally discussed in the paper. The downturn in one of the local sectors of the US economy has caused major threats to functioning global financial markets. Structural problems of the Russian financial sector ("illusion of adequacy") have greatly enhanced negative consequences of the global crisis for the Russian economy. On the global level, main steps to minimize the costs of the crisis should deal with limiting protectionism growth, coordinating measures of economic policy and preventing a hard landing of a large group of economies.
16 citations
16 citations
TL;DR: In this paper, the authors outline the basics of the mechanism design theory and describe the defining contribution of Leo Hurwiсz, Eric Maskin, and Roger Myerson, the Nobel prize winners in economics in 2007.
Abstract: The paper outlines the basics of the mechanism design theory and describes the defining contribution of Leo Hurwiсz, Eric Maskin, and Roger Myerson, the Nobel prize winners in economics in 2007. It starts by introducing the concepts of economic mechanism, incentive compatibility, and implementation, and provides a non-technical description of main results. Then it explains the relationship between theoretical foundations and real-world market mechanisms such as auctions. Finally, recent applications of the mechanism design theory to institutional analysis are discussed.
15 citations
TL;DR: In this paper, it is suggested that many theoretical models are (thought) experiments, and that many ordinary experiments are (material) models The major difference between the two is that the controls effecting the required isolation are based on material manipulations in one case, and on assumptions in the other.
Abstract: A model is a representation of something beyond itself in the sense of being used as a representative of that something, and in prompting questions of resemblance between the model and that something Models are substitute systems that are directly examined in order to indirectly acquire information about their target systems An experiment is an arrangement seeking to isolate a fragment of the world by controlling for causally relevant things outside that fragment It is suggested that many theoretical models are (‘thought’) experiments, and that many ordinary experiments are (‘material’) models The major difference between the two is that the controls effecting the required isolation are based on material manipulations in one case, and on assumptions in the other
14 citations
TL;DR: In this paper, an empirical investigation of the impact of the Balassa-Samuelson effect on the real ruble appreciation in 1999-2007 was presented, and it was shown that about 1/3 of the observed appreciation can be attributed to the effect.
Abstract: The article presents an empirical investigation of the impact of the Balassa-Samuelson effect on the real ruble appreciation in 1999-2007. We consider long-run, supply-side determinants of the real ruble exchange rate, such as changes in terms of trade and labor productivity. Using Russian and German data on price and productivity differentials between tradable and non-tradable sectors of the two economies, we estimate the significance of oil price shocks and the Balassa-Samuelson effect for the real ruble appreciation. Our study demonstrates that, on average, about 1/3 of the observed appreciation can be attributed to the Balassa-Samuelson effect. The cointegrating relationship between the productivity differential and the real exchange rate provides evidence of the healthy nature of the economic growth, which took place in Russia during the time period under investigation. These findings suggest that exchange rate adjustments should be used by the Central Bank of Russia mainly as a monetary policy instrument for fighting inflation rather than as a tool for competitive devaluations.
14 citations
TL;DR: The authors surveys economic and political science literature on resource curse, with a primary focus on the role of institutions, showing that resource abundance leads now not so much to macroeconomic risks of Dutch disease as to possible deterioration of the quality of government and political institutions.
Abstract: The paper surveys economic and political science literature on resource curse, with a primary focus on the role of institutions. These studies show that resource abundance leads now not so much to macroeconomic risks of Dutch disease as to possible deterioration of the quality of government and political institutions. In particular, cross-country evidence on the impact of rising oil prices on media freedom and quality of corporate governance is discussed.
TL;DR: In this paper, the authors present the forecasts of some future developments as well as suggestions about necessary steps to strengthen the Russian economy in conditions of global instability, and make use of the recent changes in the regulatory approaches of major industrial countries even in the spheres that were not subject to change for many years.
Abstract: Aggravation of the crisis in the western economies has led to dramatic changes in the world financial system. As a result, the regulatory approaches of major industrial countries have been significantly modified even in the spheres that were not subject to change for many years (as was the case with some segments of monetary policy). At the same time new sources of risks to be reckoned with have emerged. The forecasts of some future developments as well as suggestions about necessary steps to strengthen the Russian economy in conditions of global instability are presented.
TL;DR: In this paper, the authors focus on the possibility of macroeconomic destabilization as a result of global depression and propose to pay more attention to anti-cyclical measures to counter it.
Abstract: Economic growth and investment boom should not shadow the lack of institutional reforms, emerging fiscal populism as well as inefficiency of law enforcement system The important forthcoming problem is the possibility of macroeconomic destabilization as a result of global depression The current Russian economic policy is concentrated on stimulating economic growth (at any price) while it should now pay more attention to anti-cyclical measures Another challenge for stability will come from inflation
TL;DR: The main difference between Russia and Western countries is considered to be the following: student employment during the period of studying is widely used as a signal about the quality of human capital for the future employer as discussed by the authors.
Abstract: The paper provides an explanation for widespread student employment in Russia. The main difference between Russia and Western countries is considered to be the following: student employment during the period of studying is widely used as a signal about the quality of human capital for the future employer. The authors show that in Russia more productive students start working earlier and employment is more often connected with the future profession than in the Western countries. They suggest that the system of communication between education structures and employers should be established in order to inform the latter about the quality and features of education acquired.
TL;DR: In this paper, the authors propose a new model of federal policy of regional development, specification of some important components of the municipal reform as well as inserting certain amendments into the system of intergovernmental fiscal relations in order to stir up their stimulating function.
Abstract: Transformations in the sphere of federal relations concern the most important directions of the reforming processes in the country. However, not all proposed and actually developing components of the federal reform seem well-argued and corresponding to long-term, strategic interests of the Russian statehood. The basic course of reform should meet the objective requirements of further decentralization of governing economic and social processes and the need to ensure strengthening the responsibility of RF subjects’ executive bodies and local self-management for steady social and economic development of their territories. The solution of these problems calls for a new model of federal policy of regional development, specification of some important components of the municipal reform as well as inserting certain amendments into the system of intergovernmental fiscal relations in order to stir up their stimulating function.
TL;DR: The authors discusses four dilemmas encountered by an economic theorist: the dilemma of absurd conclusions, whether to abandon a model if it produces absurd conclusions or to regard a model as a very limited set of assumptions that will inevitably fail in some contexts.
Abstract: The paper discusses four dilemmas encountered by an economic theorist. The dilemma of absurd conclusions: should we abandon a model if it produces absurd conclusions or should we regard a model as a very limited set of assumptions that will inevitably fail in some contexts? The dilemma of responding to evidence: should our models be judged according to experimental results? The dilemma of modelless regularities: should models provide the hypothesis for testing or are they simply exercises in logic that have no use in identifying regularities? The dilemma of relevance: do economists have the right to offer advice or to make statements that are intended to influence the real world?
TL;DR: In this article, the authors study hiring decisions made by competing universities in a dynamic framework, focusing on the structure of university finance, and investigate the political economics of competition between universities, path-dependence in the development of the university system, and higher education reform in emerging market economies.
Abstract: We study hiring decisions made by competing universities in a dynamic framework, focusing on the structure of university finance Universities with annual state-approved financing underinvest in high-quality faculty, while universities that receive a significant part of their annual income from returns on endowments hire fewer but better faculty and provide long-term contracts If university financing is linked to the number of students, there is additional pressure to hire low-quality short-term staff An increase in the universitys budget might force the university to switch its priorities from research to teaching in equilibrium We employ our model to discuss the necessity for state-financed endowments, and investigate the political economics of competition between universities, path-dependence in the development of the university system, and higher-education reform in emerging market economies
TL;DR: The financial crisis emerging nowadays demonstrates the real level of financial globalization as mentioned in this paper, which is why one cannot hope to maintain the existing model of economic growth while any attempts in this direction will aggravate the situation even more.
Abstract: The financial crisis emerging nowadays demonstrates the real level of financial globalization. It would be strange if the Russian economy remained "safe haven" in the current environment. But could one blame the United States saying that the Russian crisis is induced only or it has own origins? It seems that the American crisis has been just a trigger while the Russian economy has its inner diseases. That’s why one cannot hope to maintain the existing model of economic growth while any attempts in this direction will aggravate the situation even more.
TL;DR: In this paper, a distinction between two different types of ownership illegitimacy: "definite" and "vague" ones is made, and it is argued that the "vagueness" is not an absolute obstacle for economic growth but rather an institutional birth trauma which is common for all post-socialist countries and which could be cured only by piecemeal approaching of relationships between strong and weak economic actors to principles of fair play.
Abstract: The paper examines the problem of legitimation of the privatization’s outcomes in Russia and provides a critical appraisal of various political proposals for its resolution. The analysis proceeds from a distinction between two different types of ownership illegitimacy: "definite" and "vague" ones. The paper argues that the "vague" illegitimacy that has evolved in Russia is not an absolute obstacle for economic growth but rather an institutional birth trauma which is common for all post-socialist countries and which could be cured only by piecemeal approaching of relationships between "strong" and "weak" economic actors to principles of fair play.
TL;DR: In this article, a general comparative study of four strategies of social and economic development: inertia, renter, mobilization, and modernization is presented, based on description of strategies essence, ways and tools to achieve results.
Abstract: The article contains a general comparative study of four strategies of social and economic development: "Inertia", "Renter", "Mobilization", and "Modernization". The context for comparison is explanation of correlation between adaptive features of Russia’s contemporary economic system and particularities of the mentioned strategies with corresponding ways of managing economic development problems. The comparison is based on description of strategies essence, ways and tools to achieve results. Perspectives of achieving strategic purposes as well as expected results of implementation of each strategy are shown. Special comparative study of four strategies on the base of development of competitive markets as one of strategic aims of the Russian government is presented.
Journal Article•
TL;DR: In this article, the authors explored economic implications of the presence of intermediaries assisting private individuals and firms in meeting government rules and regulations, and showed that in such circumstances intermediaries benefit corrupt bureaucracy, possibly at the expense of the private sector.
Abstract: The paper explores economic implications of the presence of intermediaries assisting private individuals and firms in meeting government rules and regulations. Conventional advantages of intermediaries include gains due to specialization and the economy of scale; however if government service is affected by corruption, intermediaries in addition allow to reduce "transaction costs" of corrupt agreements and in particular - the risks of exposure of such illicit dealings. It is shown that in such circumstances intermediaries benefit corrupt bureaucracy, possibly at the expense of the private sector. Results of surveys conducted in recent years are used in describing the present state and trends in the intermediaries sector in Russia, and evidence is presented that some intermediaries indeed resort to corruption in serving their clients. The link between the intermediaries sector dynamics and deregulation and administrative reform is analyzed.
TL;DR: Litoshenko as mentioned in this paper argues that if we try to approach economic life objectively, we will find it difficult to regard Marx's method as a means of cognition and change of economic (market) reality.
Abstract: The article is a previously unpublished text written by the prominent Russian economist L. N. Litoshenko (1886-1943) and devoted to the interpretation of K. Marx’s economic theory. Litoshenko claims that the system of economic science developed by Marx is missing logical structure and cannot be proven in its entirety. This view is supported by the fact that in Marx’s "Capital" we find internal inconsistency, ambiguous and inexact pieces of argument. The article considers the main peculiarities of Marxian theory and method. The author criticizes apologetic approaches to the appraisal of Marx’s contribution to economic theory and finds insufficient both "nave-realistic" and "socially objective" perception of Marx’s ideas. By analyzing a huge amount of sources Litoshenko argues that if we try to approach economic life objectively, we will certainly find it difficult to regard Marx’s method as means of cognition (and change) of economic (market) reality.
TL;DR: In this paper, different types of interests groups which are analyzed in economics and sociology are characterized: analytical, statistical and real ones, and the operational attributes of these types of groups are cosidered.
Abstract: Different types of interests groups which are analyzed in economics and sociology are characterized: analytical, statistical and real ones. The operational attributes of these types of groups are cosidered. The estimations for some "statistical" groups of the Russian society from the point of view of their bargaining power and capabilities to create coalitions are presented. The examples of coalitions connected with some possible reforms are given.
TL;DR: The authors argues that the Marginalist Revolution in the end of the XIX century created a radically new vision of the subject-matter and method of economic theory and that contemporary mainstream economics is now based on the assumptions of methodological individualism, optimization and absence of "genuine" uncertainty.
Abstract: The paper deals with the evolution of economic method during the last centuries. The author argues that the Marginalist Revolution in the end of the XIX century created radically new vision of the subject-matter and method of economic theory. As a result, contemporary mainstream economics is now based on the assumptions of methodological individualism, optimization and absence of "genuine" uncertainty. These processes have strongly diminished the potential of economics. As a response various heterodox conceptions have emerged emphasizing different kinds of non-optimizing and/or group behavior and also stressing the importance of complexity, volatility and "genuine" uncertainty of economic environment. In this respect, in particular, the paper shows that J. M. Keynes’ theory is beyond contemporary mainstream economics.
Posted Content•
TL;DR: In this paper, the authors outline the basics of the mechanism design theory and describe the defining contribution of Leo Hurwiсz, Eric Maskin, and Roger Myerson, the Nobel prize winners in economics in 2007.
Abstract: (2007 Nobel Prize in Economics) The paper outlines the basics of the mechanism design theory and describes the defining contribution of Leo Hurwiсz, Eric Maskin, and Roger Myerson, the Nobel prize winners in economics in 2007. It starts by introducing the concepts of economic mechanism, incentive compatibility, and implementation, and provides a non-technical description of main results. Then it explains the relationship between theoretical foundations and real-world market mechanisms such as auctions. Finally, recent applications of the mechanism design theory to institutional analysis are discussed.
TL;DR: In the next 30-40 years Russia has a real chance to enter the club of the most developed countries in the world as discussed by the authors. But for this to happen Russia should implement a number of institutional reforms and make changes in its way of thinking and culture in order to move from catching up growth to growth on the technological frontier and to deal with challenges of globalization.
Abstract: In the next 30-40 years Russia has a real chance to enter the club of the most developed countries in the world. But for this to happen Russia should implement a number of institutional reforms and make changes in its way of thinking and culture in order to move from catching up growth to growth on the technological frontier and to deal with challenges of globalization.