The Global Financial Crisis and the Development of the EU Budget Law: to the Conclusion of the Treaty Establishing the European Stability Mechanism

Янкевич Семён Васильевич

Article

Мировой финансовый кризис и развитие бюджетного права ЕС: к заключению Договора об учреждении Европейского стабилизационного механизма

Реформы и право. 2012. № 4. С. 72-74.

The article deals with the evolution of the EU budget law during the Global Financial Crisis. The legal framework of the European Stability Mechanism and the ways of providing financial assistance to the Eurozone Member States were also highlighted.

Priority areas: law

Language: Russian

Full text (PDF, 1.45 Mb)

Keywords: global financial crisis EU budget law the European Stability Mechanism (ESM)

Sources of long run economic growth of the Russian economy before and after the global financial crisis

Voskoboynikov I. Economics/EC. WP BRP. Высшая школа экономики, 2017. No. 179.

Although a productivity slowdown of the global economy was observed before 2008, it was the 2008 crisis that stimulated studies on its origins. Recent literature suggests inefficient investments in machinery, human capital and organizational processes. This includes skill mismatches and a lack of technology diffusion from advanced to laggard industries and firms. To what extent is this global view helpful in understanding recent productivity slowdown of the Russian economy? The present study reports that at least some of these origins can be observed in Russia. Using conventional industry growth accounting, it compares the pre- and post-crisis sources of growth in the Russian economy. Specifically, it represents aggregate labour productivity growth as the sum of capital deepening and total factor productivity (TFP) growth in industries, and the contribution of labour reallocation between industries. It shows that the stagnation of 2008-2014 is more an outcome of the TFP slowdown and a deterioration of the allocation of labour rather than a lack of capital inputs. The TFP slowdown started in Russia a few years before the crisis, as in other major global economies, such as OECD countries, China and Brazil. Russia demonstrated relatively stable capital deepening makes the Russian pattern similar to resource abundant Australia and Canada. Next, the contribution of information and communication capital to labour productivity growth in Russia after 2008 declined, which could have hampered technology diffusion. Finally the structure of the flow of capital services in Russia changed after 2008. Before the crisis the contribution of machinery and equipment dominated, while after the crisis construction provided the most capital inputs.

Added: Nov 14, 2017

Семеко Г.В. Мировой финансовый кризис: что ждет мировую экономику и экономику России в ближайшем будущем?

Семеко Г. В. В кн.: Глобальный финансовый кризис и его последствия. М.: ИНИОН РАН, 2012. С. 4-11.

Processes and trends in the world financial system aroused by the global financial crisis of the 2008 are under consideration.

Added: Jan 27, 2017

Анализ воздействия инструментов управления кредитными рисками российских банков на качество клиентской базы и развитие кредитного бизнеса в период глобального финансово-экономического кризиса

Борщева С. В. Банковские услуги. 2011. № 8. С. 22-31.

This article includes an empirical research of the impact of the macroeconomic factors and the credit risk management policy choice on the financial standing of the borrower in the period of the financial instability. The author analyses the credit risk management practice in the period of the global financial crisis and highlights significant aspects of the credit risk management influence in terms of further economic growth necessity.

Added: Dec 14, 2012

Глобальный финансовый кризис и его последствия

Семеко Г. В. М.: ИНИОН РАН, 2012.

Processes and trends in the world financial system aroused by the global financial crisis of the 2008 are under consideration.

Added: Oct 2, 2016

Викиномика на макроэкономическом уровне как развитие глобальных экономических отношений

Новожилова Т. Н., Жихарев К. И. Финансы и кредит. 2010. № 13. С. 38-41.

Added: Dec 26, 2012

Оценка финансовой устойчивости региональных коммерческих банков, их оздоровлении и укрепление

Уварова Л. Ф. Журнал правовых и экономических исследований. 2013. № 3. С. 147-151.

Added: Oct 2, 2013

The Legitimacy of the Bolshevik Order, 1917-1918: Language Usage in Revolutionary Russian Law

Borisova T. Y. Law. LAW. Высшая школа экономики, 2012. No. 05.

The article describes and analyzes the legislative politics of revolutionary regimes in Russia in 1917-1918. The author aims to demonstrate the political meaning of the form of early Soviet legislation and its legitimizing effect. The revolutionary legislators often used specific language in the new laws as a vehicle of legitimacy, i.e. to make the people comply. The two main types of legal language used by the Bolsheviks can be interpreted from the perspective of different types of legitimacy. The revolutionary strategy used propagandistic legislation, written in the language of lay people, which urged them to act according to the new law. It can be seen as a request for acts of the people to legitimize the soviets. On the contrary, the traditional strategy employed old bureaucratic means of writing and distributing legislation to the local soviets. The language used by this strategy was closed to the understanding of a lay audience and implied traditions of obeying the law written in familiar legal language, which in turn implied rational/legal legitimacy. The second strategy had already become dominant after the first months of the Bolshevik revolution. This observation demonstrates that from the very beginning of their rule, Soviet leaders approached legislative policy from a technocratic point of view, which determined the further development of Soviet legal theory and practice.

Added: Jul 20, 2012

Актуальные проблемы истории и права

Edited by: В. А. Лабузов Оренбург: Оренбургский государственный институт менеджмента, 2011.

Added: Apr 16, 2012

Культурные аспекты и правоприменительная практика в области прав человека в Кавказском регионе

Рябинин А. Л. Права человека в современном мире. WP18. НИУ ВШЭ, 2012. № 02.

Added: Jul 24, 2012

Правовое обеспечение единой государственной экологической политики Российской Федерации

Edited by: С. А. Боголюбов, Н. И. Хлуденева М.: Юстицинформ, 2011.

Added: Apr 16, 2012

Наука международного частного права: французская школа бартолистов XV-XVI вв.

Гетьман-Павлова И. В. Государство и право. 2010. № 6. С. 84-92.

международное частное право; недвижимость; ; школа бартолистов; бартолисты; теория статутов; статуарная теория/

Added: Oct 1, 2012

Право на контрдемонстрации: угроза или индикатор уровня демократии?

Храмова Т. М. Конституционное и муниципальное право. 2012. № 7. С. 10-16.

The article is devoted to a particular form of freedom of assembly — the right to counter-demonstrate. The author underlines the value of this right as an element of democratic society, but also acknowledges the risk of violent actions among participants of opposing demonstrations. Due to this risk, the government may adopt adequate measures restricting the right to counter-demonstrate, certain types of which are analyzed in this paper.

Added: Jan 10, 2013

Legislation as a Source of Law in Late Imperial Russia

Borisova T. Y. Law. LAW. Высшая школа экономики, 2012. No. 04.

This article analyzes the usage of legislation as a legal source in the Russian Empire through the phenomenon of the publication of law. The author argues that the absence of separation of executive, legislative and court powers had definite negative effects for lawmaking and enforcement. The legislative politics of Russian emperors could be analyzed using Jürgen Habermas‘ concept of ―representative publicness‖ (representative öffentlichkeit): to a large extent, the tsars considered law as both an assertion of authority and a means of governing. Their actions towards strengthening legality in the state (i.e. the compulsory publication of legislation) were in essence symbolic or theatrical. In fact, since the separation of laws from executive acts did not exist in imperial Russia, the legislation was published (or stayed unpublished) exclusively for state administrators. The conflict in conceptions of legality between state and civil actors in the second half of the nineteenth century was not of a merely political nature. The article demonstrates that there was a public demand for publication of legislation; insufficient accessibility of legal information negatively influenced social and economic development in imperial Russia.

Added: Jul 20, 2012

Философия

М.: Издательство Военного университета, 2011.

Added: Apr 13, 2012

Россия и Договор Энергетической хартии

Белый А. В. ЭКО. 2010. № 6. С. 97-114.

Development of standards of international controllability is reviewed in the article. Institutional approach is applied to development of international legal regime of Energy Charter. Definition of controllability is connected to development of international standards of dispute settlement, which are described in the article in detail. In connection with controllability, Russian interest, defense of investment in European Union and ecological investment encouragement, is reviewed in the article.

мировое управление и управляемость, Мировая экономика, международное экономическое право, энергетическая хартия, International control and controllability, International economics, international economic law, Energy Charter

Added: Oct 4, 2012