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on Confederation of Independent States |
| By: | Guillem Achermann (GREI/CLERSE); Zeting LIU (GREI/CLERSE) |
| Abstract: | La Russie comme la Chine font partie des BRIC. Ces deux pays sont aussi parmi les plus grands pollueurs du monde. Depuis les années de transition, elles ont toutes les deux mis sur pied des politiques scientifiques industrielles pour encadrer leur croissance économique. Cependant, bien que chaque pays possède une politique dirigiste, celle-ci ne s’est pas construite sur les mêmes bases, que ce soit sur le plan technologique ou économique. En effet, ayant partagé un grand nombre de points communs en termes d’organisation administrative et économique, ces deux pays possèdent des transitions très distinctes. En analysant et comparant les politiques environnementales et industrielles de la Russie et de la Chine, cette étude s’interroge sur les effets des différentes transitions initiées et de leurs conséquences sur les trajectoires industrielles et plus particulièrement sur les dynamiques environnementales. Russia and China are part of the BRIC countries. They are also among those most pollutant countries in the world. Since the transition periods, they both have been carrying out scientific and industrial policies to monitor their economic growth. Although each of them has an interventionist policy, these policies are not built on the same technological and economic foundation. Indeed, while sharing a lot of common points in terms of administrative and economic organization, these two countries have gone through different transition modes. By analyzing and comparing the Russian and Chinese environmental and industrial policies, this study sheds light on the effects of their different transition modes and the consequences of their industrial process and in particular of their environmental dynamics. |
| Keywords: | transition, politique industrielle, politique d’innovation, protection environnementale, Russie, Chine, transition, industrial policy, innovation policy, environmental protection, Russia, China |
| JEL: | O13 O38 O57 |
| Date: | 2013–09 |
| URL: | http://d.repec.org/n?u=RePEc:rii:riidoc:272&r=cis |
| By: | Alexander Abroskin (Gaidar Institute for Economic Policy) |
| Abstract: | The article is devoted to topical issues of the formation of modern innovative processes management information base in the Russian economy. The article discusses the topical problems of effective management organization, associated with the definition and structuring of its object, classification of institutional units relative to the innovative segment of the economy. Particular attention is paid to the methodology of modern innovation statistics as a basis for obtaining the primary data and the formation of a system of indicators used in the innovative processes management. The prospects for the development of innovative processes management information base in the Russian economy are analyzed from the standpoint of further improving the statistical methodology, increasing the materiality level of formed for management indicators and extension of management tasks completed through the use of advanced analytical and predictive methods and models. The latter aspect is considered in terms of prospects for the use of complex analysis and forecasting innovation processes approach provided for by the modern version of the System of National Accounts. |
| Keywords: | analysis, innovations, innovative processes, information base, methodology, controlled object, materiality of information, System of National Accounts, management. |
| JEL: | O11 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:gai:wpaper:0092&r=cis |
| By: | Vasily Astrov (The Vienna Institute for International Economic Studies, wiiw); Rumen Dobrinsky (The Vienna Institute for International Economic Studies, wiiw); Vladimir Gligorov (The Vienna Institute for International Economic Studies, wiiw); Doris Hanzl-Weiss (The Vienna Institute for International Economic Studies, wiiw); Peter Havlik (The Vienna Institute for International Economic Studies, wiiw); Mario Holzner (The Vienna Institute for International Economic Studies, wiiw); Gabor Hunya (The Vienna Institute for International Economic Studies, wiiw); Michael Landesmann (The Vienna Institute for International Economic Studies, wiiw); Sebastian Leitner (The Vienna Institute for International Economic Studies, wiiw); Olga Pindyuk (The Vienna Institute for International Economic Studies, wiiw); Leon Podkaminer (The Vienna Institute for International Economic Studies, wiiw); Sandor Richter (The Vienna Institute for International Economic Studies, wiiw); Hermine Vidovic (The Vienna Institute for International Economic Studies, wiiw) |
| Abstract: | The Vienna Institute for International Economic Studies (wiiw) expects GDP in Central, East and Southeast Europe (CESEE) to pick up speed and grow on average by 2-3% over the forecast period 2014-2016 a major driving force rooted in an upward reversal of public and private investment. The question remains, however, whether investment-led growth in the CESEE countries is merely a statistical base effect of a few replacement investments or an indication of a profound paradigmatic shift. Increasing evidence suggests the latter for a number of reasons. During the ongoing economic crisis, public investment was severely reduced. However, in times of extreme uncertainty, the private sector is hesitant to invest. Hence, the public sector has to take the lead. It seems that the time for action has now come. This holds especially true for the New Member States, where towards the end of the previous year additional efforts were made to raise the absorption rate of the funds allocated within the context of the EU multiannual financial framework for 2007-2013 that was about to come to a close. Over the remaining disbursement period of the biennium 2014-2015 substantially higher amounts of EU-funded investment are to be expected. Given that, in practically all cases, national co-financing is also required, CESEE public capital investment will increase, with private investors likely following in its slipstream. Apart from a number of transport infrastructure projects, a host of thermal power plant projects are in the pipeline, as are several major investments in the construction and expansion of nuclear power plants across the region. Apart from public and semi-public infrastructure investment initiatives that have the potential to spur subsequent private investment, improving growth prospects in the euro area, the CESEE economies’ main trading partner, are likely to encourage export industries in the region to modernise and increase their capital stock. This should help avert a lapse into a deflationary spiral and foster a shift towards better equilibrium with lower unemployment rates over the medium term. However, substantial downward risks include possible effects from the current Russia-Ukraine conflict; in particular the interruption of energy supplies, potential trade embargoes or additional interest rate risk premia. All this could adversely affect investment-led growth in CESEE. |
| Keywords: | Central and East European new EU Member States, Southeast Europe, financial crisis, Balkans, Russia, Ukraine, Kazakhstan, Turkey, economic forecasts, employment, foreign trade, competitiveness, debt, deleveraging, exchange rates, fiscal consolidation |
| JEL: | C33 C50 E20 E29 F34 G01 G18 O52 O57 P24 P27 P33 P52 |
| Date: | 2014–03 |
| URL: | http://d.repec.org/n?u=RePEc:wii:fpaper:fc:spring2014&r=cis |
| By: | Walid Mensi; Shawkat Hammoudeh; Juan Carlos Reboredo; Duc Khuong Nguyen |
| Abstract: | This paper examines the dependence structure between the emerging stock markets of the BRICS countries (Brazil, Russia, India, China and South Africa) and influential global factors (the S&P 500 index, the commodity markets, the global stock market uncertainty and the US economic policy uncertainty). Using the quantile regression approach, our results for the period from September 1997 to September 2013 show that the BRICS stock markets exhibit asymmetric dependence with the global stock market and this dependence has not changed since the onset of the recent global financial crisis. Moreover, oil prices display a symmetric tail independence with all those BRICS markets (except that of South Africa), even though the dependence between oil and BRICS markets significantly increased with the onset of the financial crisis. The gold price returns co-move with those of the BRICS markets at both the upper and lower tails (except for Russia and China) but the degree of comovement has decreased since the crisis. Finally, the stock market uncertainty (VIX) is found to drive the stock returns in a bear market but this relationship is insignificant in a bull market. On the other hand, the economic policy uncertainty has no impact on the BRICS stock markets both before and since the onset of the financial crisis. These results have implications for international investors in terms of risk management which should vary according to changes in the economic and financial global factors. |
| Keywords: | Asymmetric dependence; global factors; BRICS; global financial crisis; quantile regression. |
| JEL: | G14 G15 |
| Date: | 2014–02–25 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-159&r=cis |
| By: | Olga N. Molchanova (National Research University Higher School of Economics); Tatyana Y. Nekrasova (National Research University Higher School of Economics) |
| Abstract: | This article describes the creation of a Russian-language version of the Contingencies of Self-Worth Scale (CSWS). We report the process and the three stages of adapting the questionnaire and report the results of the stage three version (N = 422); an internal consistency test (Cronbach's Alpha – from 0.67 to 0.84); item discrimination (0.55 to 0.86); retest reliability (0.54 to 0.79, p |
| Keywords: | self-esteem, basic contingencies of self-worth, external and internal contingencies of self-esteem, self-worth, self-efficacy. |
| JEL: | Z |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:17psy2014&r=cis |
| By: | Ketenci, Natalya |
| Abstract: | The effect of the global financial crisis on the international trade patterns of developed countries has been one of the main focuses of recent studies. However, the dependence level of world trade on emerging markets increases every day. Therefore, it is important to study the level of the negative effect of the crisis on emerging economies and the level of their recovery potential. This paper empirically studies the effects of the financial crisis on changes in the trade elasticities of BRIICS (Brazil, Russia, India, Indonesia, China and South Africa) countries and Turkey. The imperfect substitute model (Goldstein and Khan 1985) for the export and import demand functions is used. The autoregressive distributed lag (ARDL) approach to cointegration is applied to test the cointegration relationships between exports and imports and their determinants and in order to estimate the export and import elasticities in the countries under examination. The empirical results provide enough evidence to conclude that changes in the exchange rate did not play significant role in export and import demand functions before the global financial crisis and after. However, foreign and domestic incomes are found highly significant and elastic in export and import demand functions, respectively. It is found as well that the global financial crisis had increasing effect on export and import responsiveness to foreign and domestic incomes respectively, except for Turkey and Brazil in the export demand function and South Africa in the import demand function. |
| Keywords: | financial markets; international trade; emerging markets. |
| JEL: | F14 F41 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:54659&r=cis |
| By: | Ketenci, Natalya |
| Abstract: | The purpose of this paper is to investigate the level of capital mobility in the largest economies of Asia by testing the Feldstein-Horioka puzzle. Panel estimations using quarterly data for the period from 1995 to 2011 have been made for the seven largest economies of Asia, specifically Russia, Japan, South Korea, Turkey, India, Indonesia and China. This group of countries has gained significant economic power in the world over the last decade. Specifically, the growth rates of the sample has for a long period of time exceeded the growth rates of most developed countries. The total GDP adjusted for PPP is far above of the GDP of the EU and NAFTA groups and very close to the G7 group. The paper examines changes in investment savings relationships when the presences of structural shifts – where such exist – are taken into account. Recently developed panel techniques are employed to examine the investment savings relationship and estimate saving-retention coefficients. As a result of these estimations, countries were divided into two groups consisting of stable and unstable economies. This division of countries allows for more precise estimates of capital mobility. The empirical findings reveal that the Feldstein-Horioka puzzle exists in the groups. The saving-retention coefficient is estimated at 0.804 and 0.839 for the stable and unstable samples, respectively, which indicates a relatively higher level of capital mobility among stable countries. Results indicate that countries with high capital mobility are exposed to the negative effects of international market fluctuations. |
| Keywords: | Feldstein-Horioka puzzle, saving-investment association, capital mobility, cointegration, structural breaks, Asia. |
| JEL: | F32 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:54660&r=cis |
| By: | Lukianenko, Dmytro; Chuzhykov, Viktor; Woźniak, Michał Gabriel; Antoniuk, Larysa; Bal-Woźniak, Teresa; Bolonek, Ryszarda; Dobija, Mieczysław; Fedirko, Natalia; Fedirko, Oleksandr; Firszt, Dariusz; Honcharuk, Andrii; Ilnytskyi, Denys; Jabłoński, Łukasz; Kaleniuk, Iryna; Kaliszuk, Ewa; Kleer, Jerzy; Olefir, Anna; Panchenko, Yevhen; Poruchnyk, Anatolii; Satsyk, Volodymyr; Savchuk, Volodymyr; Stępień, Kinga; Stolyarchuk, Yaroslava; Tatarenko, Nataliya; Tokarski, Tomasz; Tsyhankova, Tetiana |
| Abstract: | The all-round aspects of bilateral relations are considered in the common Ukrainian-Polish monograph. Authors uncover important features of social-andeconomic systems convergence under conditions of globalization and European integration, as well as the further transformation of Central- and East European countries. The focus of the monograph is to analyze the characteristic features of the evolution of Polish and Ukrainian economic models. The research interest of the authors of the monograph has been concentrated on the diversification of bilateral economic relations and subject to the fundamental objective – the co-integration of Ukraine and the EU, as well as the possibility of adapting the Polish experience of systemic transformation of the national social and economic model. The monograph is addressed to scientists, politicians, public activists, diplomats, international experts, and to all those, who are not indifferent to the European prospect of Ukraine. |
| Keywords: | Ukraine, Poland, EU, integration, economic systems, economic models, convergence, globalization, policies, information resourses, systemic transformation |
| JEL: | B0 E0 F0 F59 O10 P20 |
| Date: | 2013–04–29 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:54747&r=cis |