Структурные изменения в российской экономике, обусловленные либерализацией торговли
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.
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.