Социальная ставка дисконтирования в России: методология, оценка, межрегиональные различия
In this paper the authors explain the necessity of social discount rate for appraisal for the public sector investment projects. Methods for social discount rate evaluation that have been developed by the present moment are considered. A methodology and relevant calculations of social rate of time preferences for Russia are presented. It is substantiated that social discount rate should be evaluated not only for the country as a whole but also for the particular regions. The results of calculations for all the Russian regions are described, and regional differences explained.
This article provides estimates of a social discount rate (SDR) to inform government policy in Russia. We find that a SDR should be determined for the whole country as well as for particular regions. We apply the social rate of time preferences approach and estimate values for public sector projects at national and regional levels. All calculations are based on data from the Federal State Statistics Service of Russia. Findings help the decision-making process in the public sector of economics. Suggestions are useful for Russia as well as for post-Soviet countries and other developing economies with regional diversity.
Nowadays performance estimation in the public sector of economics is a problem of high importance for Russia since the public sector is rapidly developing. In Russian statutory acts methodologies of performance estimation are allocated but there are no recommendations concerning a (social) discount rate for comparison of costs and social benefits of public sector projects. Nevertheless the use of a social discount rate in decision-making process can help to calculate the net present value of public sector projects properly and to avoid taking nonviable investment initiatives. The paper proposes methodology of social discount rate evaluation taking into account a regional aspect. We modify existing approaches and determine the limits of solutions offered. All calculations are based on the data of Federal State Statistics Service of Russia.
The article considers the phenomenon of temporary labor migration, i.e. the so-called ‘contemporary migrant/seasonal work’. The author focuses on its regional features determined by economic, social-cultural and demographic situation in the migrant workers’ hometowns and villages. There is a clear differentiation in such characteristics as the scale of migrant work, women’s seasonal positions, dominant motives of such work and its key specialties, migrant workers’ status in the local community, etc., especially in the northern and southern parts of European Russia. The share of migrant workers in local communities is much higher in the ‘south’ than in the ‘north’ for the density of population in the ‘south’ is higher. In the ‘south’, both men and women are engaged in migrant work while in the ‘north’ women among the migrant workers are rare. The ‘north’ with its forests is known for migrant carpenters that build houses, bathhouses and other buildings for wealthy city dwellers (there are almost no carpenters in the ‘south’). The ‘southern’ migrant workers can be divided into two groups — general workers and skilled workers engaged in oil and gas industries, so labor competition is fierce in the ‘south’; moreover there is a big demand for ‘northern’ carpenters’ unique skills. Thus, ‘southern’ migrant workers are motivated by push-factors, while the ‘northern’ — by the attraction-factors. The scale of migrant work and its key specialties determine the differences in migrant workers’ positions in local communities: for instance, carpenters of the ‘north’ mainly have a high social status; ‘southern’ migrant general workers usually have a low status, while the skilled ones — a high status.
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.
The results of cross-cultural research of implicit theories of innovativeness among students and teachers, representatives of three ethnocultural groups: Russians, the people of the North Caucasus (Chechens and Ingushs) and Tuvinians (N=804) are presented. Intergroup differences in implicit theories of innovativeness are revealed: the ‘individual’ theories of innovativeness prevail among Russians and among the students, the ‘social’ theories of innovativeness are more expressed among respondents from the North Caucasus, Tuva and among the teachers. Using the structural equations modeling the universal model of values impact on implicit theories of innovativeness and attitudes towards innovations is constructed. Values of the Openness to changes and individual theories of innovativeness promote the positive relation to innovations. Results of research have shown that implicit theories of innovativeness differ in different cultures, and values make different impact on the attitudes towards innovations and innovative experience in different cultures.
The paper examines the principles for the supervision of financial conglomerates proposed by BCBS in the consultative document published in December 2011. Moreover, the article proposes a number of suggestions worked out by the authors within the HSE research team.