Harnessing Hydrocarbon Revenues: Reflections on Russia
Economies, like Russia, blessed with resource abundance, do not usually perform well during the period of commodity price boom. The optimal policy of managing resource revenues prescribes to commit the permanent income rule to smooth the resource dividend in efficiency units and to smooth the real exchange rate. During the commodity price boom, Russia followed partially this prescribed policy, but the situation changed after the crash of oil and gas prices in 2014. Possible ways to overcome the consequences of low oil and gas prices are discussed, paying particular attention to the lack of economic complexity and the need for diversification and capabilities for growth and development of the Russian economy.
Hi-tech innovative alliances tend to have more key sustainable competitive advantages in comparison with those out of alliance, especially because alliances allow the companies to switch through the partners the financial burdens and intellectual investments in innovations. BRIC make an important input into Gross World Production and its hi-tech industries grow faster than others over developing countries. However companies of these industries still lack internal resources of innovative and technological facilities, e.g. Russian companies, because of that alliances (usually, international anв transnational) acquire more and more popularity. Alliances give the access towards resources and competences of the direct and indirect partners. The paper describes the empirical evidence of alliances efficiency factors and its influence on the high-tech companies of India and China. This evidence can be replicable to some extent and useful to the development of Russian companies. According to the testing results it is possible to assume, that efficiency of alliances has the significant impact on the corporate value in the mid-term. The crisis has significant impact on the observable dependencies.
For successful implementation of inclusive and sustainable industrial development (ISID) in the framework of the Sustainable Development Goals (SDG) UNIDO acts as a global forum for the establishment of relevant international standards, including on industrial statistics. In this format, UNIDO implements a regional project “Improvement of industrial statistics and development of indicators of industrial performance for policy-relevant analysis in CIS countries”. The main objective of the project is to provide methodological assistance to national statistical offices in the Commonwealth of Independent States (CIS) countries in introducing international standards on industrial statistics to statistical practice and forming modern and internationally comparable statistical information to display industrial development processes. Therefore, it was necessary to assess reliability, timeliness and international comparability of official statistics of Rosstat and other national statistical offices of the CIS countries, so the analytical part is done mainly based on the official data sources. This paper is based on the intermediate results of statistical analysis of the analytical module of UNIDO project
The article is devoted to the trends and determinants of the transformation of Russian regions' industrial specialization during the period of economic growth. Using the methodology of statistic and econometric analysis it is tested whether the tendency of diversification dominates the tendency of regions’ industrial specialization in 1997-2004 and whether there is a convergence of Russian regions' industrial structures. The considered factors of industries' development in a particular location include the initial industrial structure, inter- and intraregional technologic links between industries, quality of investment climate, R&D potential, international competition.
The chapter aims to explore the special model of flagship universities that emerged in the former socialist Soviet system and analyse their contemporary transition. A planned state economy requires the development of a sophisticated hierarchical typology of higher education institutions with flagship universities positioned at the top of the hierarchy. The Soviet higher education model was different from those found in other parts of the world because of its officially assigned special leadership roles. Soviet flagship universities provided support for other universities in national or regional contexts. This support included the training of teaching staff, curriculum development, and quality control. Flagship universities had exclusive opportunities to conduct research. The first part of the chapter highlights the differences between these flagship universities and the rest of the higher education system.
After the collapse of Soviet Union the hierarchical model of Russian higher education has changed under the influence of market forces, private education, and increasing competition between universities. These changes have affected flagship universities. The second part of the paper examines the reasons why some former flagship universities lost their special role, why some flagship universities managed to keep or strengthen their role, and, why several new leadership universities have emerged. The chapter describes the transformation, changes of internal features and attributes of former leading universities on the path to the contemporary models of flagship universities. The end of the paper discusses the basic factors that allow leading universities in Russia to become contemporary flagship universities.
This paper empirically investigates the effects of vertical export diversification on economic growth in Russian regions. First, we explore differences in vertical export diversification across Russian regions and analyze whether the relationship between intra-industry vertical export diversification and economic growth takes place at the regional level in 2003-2009. Using OLS and GMM estimators and controlling for a quality differences when calculating productivity level of export goods, we show that initial specializing in low-quality goods (with implied low- productivity level) leads to higher subsequent economic growth. The possible explanation is that, regions with low-quality goods in their export basket are able to improve productivity in relatively shorter terms (comparing with the situation of export discovery) and as the result grow faster. However, as it was shown, these effects of initial specialization in low-quality products on faster economic growth do matter only for regions, which are far from technology frontier.
To help countries achieve their full industrialization potential and fulfil the sustainable development goals (SDGs) and thereby improve their general welfare, UNIDO is promoting the concept of comprehensive and sustainable industrial development (ISID), which was established in the Lima Declaration adopted by UNIDO Member States on 2 December 2013. The UN General Assembly recognizes the significance of ISID as an important strategic direction for fostering global development in the future. ISID is a key instrument for achieving sustainable economic growth, the creation of quality jobs, the building of equal societies, the protection of the environment, and the active shaping of comprehensive sustainable globalization. The promotion of ISID as the key driver for successful integration of economic, social and environmental factors necessary to achieve full implementation of sustainable development by creating and improving countries’ industrial potential is the main priority of UNIDO’s current activities. To successfully implement ISID, UNIDO acts as a global forum for industrial development and the establishment of relevant international standards, including standards on industrial statistics [UNIDO, 2014; 2013a]. Accordingly, UNIDO has been implementing the regional project “Improvement of industrial statistics and development of statistical indicators for the analysis of industrial development in the CIS countries” since 2013. The project’s main objective is to provide methodological assistance to the Commonwealth of Independent States’ (CIS) national statistical services in implementing international standards on industrial statistics in the statistical practice and presentation of modern, internationally comparable information for a qualitative and reliable reflection of industrial development processes. This report presents the results of the statistical analysis describing the availability, quality and measurement capabilities of official statistics in the CIS countries accumulated over the period 2005-2014.