Fundamental Basis of Slackening of the Rates of Economic Growth in Developed Countries of the World
The article considers basic reasons for slackening of the rates of economic growth by way of research of social and labor, economic and political, innovative and legal factors of influencing this issue.
Youth are, by definition, the future. This book brings initial analyses to bear on youth in the five BRICS countries: Brazil, Russia, India, China and South Africa, which are home to nearly half of the world's youth. Very little is known about these youth outside of their own countries since the mainstream views on "youth" and "youth culture" are derived from the available literature on youth in the industrialized West, which is home to a small part of the world's youth. This book aims to help fill in this gap.
The handbook examines the state of youth, their past, present and permits the development of insights about future. The BRICS countries have all engaged in development processes and some remarkable improvements in young people's lives over recent decades are documented. However, the chapters also show that these gains can be undermined by instabilities, poor decisions and external factors in those countries. Periods of economic growth, political progress, cultural opening up and subsequent reversals rearticulate differently in each society. The future of youth is sharply impacted by recent transformations of economic, political and social realities. As new opportunities emerge and the influence of tradition on youth's lifestyles weakens and as their norms and values change, the youth enter into conflict with dominant expectations and power structures.
The topics covered in the book include politics, education, health, employment, leisure, Internet, identities, inequalities and demographics. The chapters provide original insights into the development of the BRICS countries, and place the varied mechanisms of youth development in context. This handbook serves as a reference to those who are interested in having a better understanding of today's youth. Readers will become acquainted with many issues that are faced today by young people and understand that through fertile dialogues and cooperation, youth can play a role in shaping the future of the world.
The modern concept of modernizing Russia somehow reproduce the history of the theory of innovation. The theory of innovation in its development has gone through a least 3 stages. In the first phase (1910 - first half of the 40s) to the forefront issues of understanding the nature of innovation and their role in the development of society over time (long, medium and short periods), the relationship of innovation and long cycles conditions. This period is associated with the names of J.A.Schumpeter, M.I.Tugan-Baranovsky and N.D. Kondratieff. The second stage in the development of innovation theory (second half 1940 - first half of the 1970s) is characterized by the increased role of macroeconomic analysis, in turn, he has at least two substages: the first of which was dominated by the ideas of neo-Keynesians, on the second-neoclassical. The third stage of development of the theory of innovation began in the mid-1970s and proldolzhaetsya to the present. It is characterized by an offensive alternative approach to macroeconomic theory. With a certain degree of conditionality is also possible to distinguish two substages. The first (second half of the 1970s - early 1990s) is characterized by the emergence of new ideas drawn from evolutionary theory, institutionalism (the theory of the firm) and management (innovation management). In the second substage (mid 90s) innovations studied by the methods of systems analysis. The authors are increasingly focused on issues of comparative studies: a comparative analysis of innovation policy in different countries, study the ways and means of forming an effective innovation systems. In the report it is critically considered not only the official point of view, but also M. Porter, K. Ketels work “Competitiveness at the Crossroads: Choosing the Future Direction of the Russian Economy”. Also «The forecast of innovative, technological and structural dynamics of Russian economy till 2030» and RAND Corporation report “The Global Technology Revolution 2020: Trends, Drivers, Barriers, and Social Implications” are analyzed. In this paper institutional preconditions and possibilities of application of the concept of social market economy in the 21st century Russia were analyzed. Basic elements of social market economy are personal liberty, social justice, and economic efficiency.
Along with the fast growing economy, the term «BRICs» was coined to represent the newly emerging countries — Brazil, Russia, India and China. The enhanced economy in these countries has largely improved peoples life; at the same time, it has also strongly influenced the transformation of social structure, norms and values. However, as the worlds attention centers on their economic development at the micro level, the social changes at the micro level have often been neglected, and a specific comparative study of these four countries is even more rare. This handbooks contributing authors are leading sociologists in the four countries. They fill the gap in existing literature and examine specifically the changes in each society from the perspective of social stratification, with topics covering the main social classes, the inequality of education and income, and the different styles of consumption as well as the class consciousness and values. Under every topic, it gathers articles from authors of each country. Such a comparative study could not only help us achieve a better understanding of the economic growth and social development in these countries, but also lead us to unveil the mystery of how these emerging powers with dramatic differences in history, geography, culture, language, religion and politics could share a common will and take joint action. In general, the handbook takes a unique perspective to show readers that it is the profound social structural changes in these countries that determine their future, and to a large extent, will shape the socio-economic landscape of the future world.
This article addresses the questions, What do children in urban areas do on Saturdays? What type of organizational resources do they have access to? Does this vary by social class? Using diary data on children’s activities on Saturdays in the Phoenix-Mesa-Scottsdale metropolitan area, the authors describe the different types of venues (households, businesses, public space, associations, charities, congregations, and government/tribal agencies) that served different types of children. They find that the likelihood of using a charity or business rather than a government or tribal provider increased with family income. Also, the likelihood of using a congregation or a government facility rather than business, charity, or household increased with being Hispanic. The authors discuss implications for the urban division of labor on Saturdays and offer research questions that need further investigation.
Effective property rights protection plays a fundamental role in promoting economic performance. Yet measurement problems make the relationship between property rights and entrepreneurship an ambiguous issue. As an advancement on previous research in this paper we propose a new approach to the evaluation of the security of property rights based on direct measures that overcomes some limitations of previous studies. We apply this new metrics to a survey of manufacturing firms in Russia to identify the economic effects associated with the lack of property protection in a transition economy. Our analysis supports the view that there is a close relationship between institutions, property rights and economic growth. Our findings confirm that redistributive risks provide a depressing effect on investment and innovative activity of manufacturing enterprises and potentially result in a huge loss in efficiency and economic growth, which in other institutional settings could have been avoided.
In this paper we study convergence among Russian regions. We find that while there was no convergence in 1990s, the situation changed dramatically in 2000s. While interregional GDP per capita gaps still persist, the differentials in incomes and wages decreased substantially. We show that fiscal redistribution did not play a major role in convergence. We therefore try to understand the phenomenon of recent convergence using panel data on the interregional reallocation of capital and labor. We find that capital market in Russian regions is integrated in a sense that local investment does not depend on local savings. We also show that economic growth and financial development has substantially decreased the barriers to labor mobility. We find that in 1990s many poor Russian regions were in a poverty trap: potential workers wanted to leave those regions but could not afford to finance the move. In 2000s (especially in late 2000s), these barriers were no longer binding. Overall economic development allowed even poorest Russian regions to grow out of the poverty traps. This resulted in convergence in Russian labor market; the interregional gaps in incomes, wages and unemployment rates are now below those in Europe. The results imply that economic growth and development of financial and real estate markets eventually result in interregional convergence.
According to interdisciplinary theory of architecture and sociology by A. Amin and N. Thrift, presented in their book Cities. Reimagining the Urban, the light sociality is the main way of individuals interaction in city space. In this context, consumption appears to be one of the basic forms of individuals self-expression on one hand, and on the other hand - one of the basic forms of urban communication. We deal with consumption in its general meaning - as a complex of all individuals consumption-related practices that are transparent in space of light sociality. Consumption practices become agents of light sociality, producing ambivalent encounters that emotionally affect individuals realizing those practices, and those who observe them. In this way consumption takes part in governmentality of the city spaces.
The goal of this chapter is to provide empirical evidence of the effect of differential migration strategies on poverty in Nepal. We model the effect of remittances and work migration on consumption of households with a migrants. Using the cross-sectional sample of the nationally representative Nepal Living Standart Survey of 2004, we estimate a model of household migration decisions jointly with the consumption equations by the method of full information maximum likelihood (FIML) with instrumental variables. The method takes into account unobserved household characteristics that could simultaneously affect household migration decisions and household income. We simulate counterfactual expenditure distributions to determine the effect of work-related migration on the levels of aggregate poverty and inequality in Nepal. While most of the recent papers on the effect of migration on inequality and poverty have controlled for heterogeneity and selection in terms of unobserved characteristics, to the best of our knowledge this is the first study using FIML to estimate the trivariate selection model in this context. The novelty of the study resides on separating different effects of domestic and international migration on household welfare.
The economic crisis has uncovered three negative Russian tendencies that created institutional obstacles for market economy growth during the last decade: deepening of raw materials specialization, wear and tear of the equipment, gap in scientific and technical progress, and strengthening of the government. To stop these negative tendencies and overcome economic crisis it is necessary to reform developed institutes.
The major problem of the Russian economy is its low performance level. Overcoming development gap in comparison with developed countries will become possible only with the help of innovations. This means that process of generating and using Schumpeterian-type innovations should become the key factor of economic development. It is necessary to note that innovative activity of businessmen can be present in various forms. Depending on existing game rules business activity can get not only productive (J. A. Schumpeter’s creative destruction), but also unproductive (rent seeking) orientation.
The “Concept 2020” analyses the global challenges which Russia faces in its development that amplify high level of social inequality and regional differentiation, preservation of barriers to conducting enterprise activity, weak interrelation of education, science and business, absence of necessary competition in various markets and low level of social capital development. Under these conditions, as A. Gerschenkron wrote, the government becomes the leading factor of economic modernization, and it is its representatives that try to shape the concept of long-term socio-economic development of the country.
It is supposed that gross national product growth will be provided, mainly, by means of priority development of labour productivity and large capital assets investments. Our calculations show they considerably advance growth of productivity and gross national product, and that will lead to increase in a capital intensity of production and falling yield on capital investment. The arising gap between export and import, according to authors of the Concept, will be covered by the accruing inflow of foreign capital.
However the main drawback is the mechanism of maintaining economic growth. Defining concrete aims of development is an important, but an insufficient condition. The institutional mechanism of private sector development stimulation is not developed at all. Meanwhile, sharp increase of expenses on social sphere will raise the question about budget spending. It can be reached either by increase in taxes or by public sector expansion.
In the report it is critically considered not only the official point of view, but also Porter M., Ketels K. “Competitiveness at the Crossroads: Choosing the Future Direction of the Russian Economy”, «The forecast of innovative, technological and structural dynamics of Russian economy till 2030», and RAND Corporation report “The Global Technology Revolution 2020: Trends, Drivers, Barriers, and Social Implications” devoted to tendencies of development of 16 technologies in 29 countries and other forecasts.
In this paper we analyze institutional preconditions and possibilities of application of the concept of social market economy in the 21st century Russia. Basic elements of social market economy are personal liberty, social justice, and economic efficiency.
Personal liberty assumes trust strengthening between agents, development of guarantees of private property, and regular economic policy promoting freedom.
With social justice present market economy promotes social development and strengthens middle class. Democracy will allow to break administrative barriers and to create public control. Social justice also includes address support of vulnerable regions of Russia.
Economic efficiency should be directed towards creation and maintenance of competitive order, strengthening of antimonopoly activity and improving fair entrepreneur’s image. This will make Russia more attractive for workers from abroad and help it develop integrative relations with neighboring countries.
All these measures will raise economic efficiency while creating preconditions for a fast overcoming of the crisis and increasing the well-being and the acceleration of economic development of Russia.
Institutions affect investment decisions, including investments in human capital. Hence institutions are relevant for the allocation of talent. Good market-supporting institutions attract talent to productive value-creating activities, whereas poor ones raise the appeal of rent-seeking. We propose a theoretical model that predicts that more talented individuals are particularly sensitive in their career choices to the quality of institutions, and test these predictions on a sample of around 95 countries of the world. We find a strong positive association between the quality of institutions and graduation of college and university students in science, and an even stronger negative correlation with graduation in law. Our findings are robust to various specifications of empirical models, including smaller samples of former colonies and transition countries. The quality of human capital makes the distinction between educational choices under strong and weak institutions particularly sharp. We show that the allocation of talent is an important link between institutions and growth.
One of the basic factors of economic growth in the information knowledge - based economy is the innovation component determined by the level of intellectual capital usage. Of the specifics in the usage of intellectual capital is that the cost evaluation of intellectual resources on the macro-level as a factor of economic growth is extremely difficult and there are more evaluation possibilities on the micro-level. The risk's estimation based on making use of discount theory.