Современные подходы к измерению государственного сектора: методология и эмпирика
This article attempts to estimate the scale of state involvement in Russian economy over time and compare it with other countries. Our unique methodology suggests a set of alternative approaches to measuring 3 independent components: state-owned enterprises (SOEs), state unitary enterprises and public administration sector. Our results reveal the growth of state involvement in economy up to 46% of GDP in 2016. The share of SOEs and public administration in GDP rose from 20.2% and 16.9% in 2006 up to 25.3% and 19.2% in 2016, respectively, by conservative estimates. In cross-country comparison market capitalization, employment and SOEs’ share in GDP are significant and increasing. The share of public administration corresponds to the same estimate for OECD countries, but it is also increasing.
The total state share and its growth can be the evidence of an alarming trend for Russian economy. It is 6%-12% higher than the estimate for most developing countries and, unlike in China or India, it keeps growing. This leads to state expansion in economy, growth of state influence on SOEs and transfer of noneconomic risks to SOEs. Apart from increasing state involvement in added value creation, state plays an active role in reallocation of financial resources and there is some evidence that it is even more significant than state share in creating added value measured by GDP
This article discusses the objectives and challenges for corporate governance of SOEs in Russia, and provides an international perspective of the performance of SOEs as compared to privately owned companies. Recent trends in the policy and management of state property are described. The problems of corporate governance in Russia are described in an agency perspective, and survey evidence on corporate governance and transparency of Russian SOEs is provided. Particular attention is given to the legal construction of the state corporation. The final section on the performance effects of state ownership summarizes the key contributions in the international economic literature in this field.
This article analyzes the jurisprudence in the area of seizure of land through foreclosure. After analyzing the practice of the Superior Courts of the Russian Federation, in the conclusion that there are problems in the regulation of seizure of land under federal ownership. Analysis of the practice of courts of general jurisdiction led to the conclusion that in most cases the courts side with the state and municipal authorities, took the decision to withdraw land through foreclosure.
The role of foreign direct investment initiatives is pivotal to effective enterprise development. This is particularly vital to emerging economies that are building their presence in international business markets.
"Outward Foreign Direct Investment (FDI) in Emerging Market Economies" is a comprehensive source of academic material on the progressive impact of investment opportunities in the context of developing nations. Highlighting pivotal research perspectives on topics such as trade, sourcing strategies, and corporate social responsibility, this book is ideally designed for academics, practitioners, graduate students, and professionals interested in the economic performance of emerging markets.
This article analyzes the extent and sectoral distribution of state ownership in the Russian economy. The different legal forms of state-owned enterprises (SOEs) in Russia are described. Official data on the evolution of the size of the state sector is provided, where the size is measured by the number of SOEs, their share in employment, fixed assets, investment and industrial production. Shortcomings of the official ownership classification are highlighted. Next, the sectoral distribution of SOEs and the degree of their internationalization is described. Finally, data on the SOEs that are listed on the stock market is presented. It gives a picture of a much stronger involvement of the government in medium and large sized companies than what can be inferred from the official data. In a second part (to be published in the next issue of this journal) the governance problems and performance effects of state ownership are discussed.
This book is about twenty-year's experience of privatization in different countries including Russia. The book also includes sestematozation of academic views at the problems of state failures and effectiveness of the state owership.
The chapter traces the history and reconstructs the logic of ownership debates in Soviet economic thought. Despite crucial role that ownership received in the Soviet economic literature, this concept predominantly was conceived legally thus making economic discourse inconsistent and dogmatic. Attempts to overcome this inconsistency by the leading schools of Soviet economic thought are considered and related to the broder contexts of ideological, political and economic discourses.
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.