The article analyzes European national innovation system with the help of the technological proximity method. We conduct a quantitative evaluation of those innovation-driven industries that may hold most potential in the EU context. Attempts to adopt the experience of other countries in creating innovation system have proved to be ineffective. Nowadays the implementation of innovation systems concept is possible by identifying industries that are associated with the countries’ production structure. We consider proximity indicators and construct a matrix of technological proximity for 28 EU countries for 2007–2018. We identify the types of economic activity related to the innovation sector and calculate the degree of countries’ participation in the production of high-tech industries
The paper contains a calibration for a dynamic stochastic general equilibrium model using Russian data. The main objective of the paper is to determine whether the policy of exchange-rate targeting is appropriate when balance-of-payments shocks hit an economy which is characterized by a significant ratio of currency liabilities in the banking system and an increased risk premium. It was found that a floating exchange rate policy leads to a lower decrease of welfare following the shocks than fixed exchange rate policy does. The results can be considered as a theoretical foundation of the inflation targeting and flexible exchange rate policy that are currently in use by the Central Bank of Russia.
In the conditions of modern economy the USA receive a direct economic prize due to loss of other countries, being the global issuer of the reserve currency. This situation doesn't suit many countries therefore the countries enter other reserve currencies which rotate between group of the countries (ECU, euro and other collective currencies), some countries plan their introduction further. In this article losses of the countries from use of national reserve currency and supranational reserve currency are compared. Further taking into account the analysis of statistical data prizes and losses of the countries are estimated and the conclusion about expediency of use of supranational currency in the conditions of the modern economy is provided.
This paper is devoted to the analysis of the Bank of Russia verbal interventions from 2014 to 2017 and relationship between verbal interventions and interest rates in Russian economy. As verbal interventions of the regulator, all statements made by officials of the Bank of Russia were examined, as well as statements by the press service and published results of the Bank of Russia departments. As interest rates in the economy of the Russian Federation, values of the zero-coupon yield curve of the Moscow Exchange were taken into account. The study showed that for measuring the relationship between the structure of interest rates in the economy, other macroeconomic indicators and verbal interventions, it is necessary to take into account the instability of model parameters and use models for particular time segments. Using tools, new to the scientific literature on this topic, we obtained optimal time segments to improve the quality of data presentation. The estimations of various models with inclusion of the ARCH and GARCH components showed that the Bank of Russia information policy had a significant impact on short, medium and long interest rates. At the same time, the relationship between the statements of the Bank of Russia representatives and interest rates depends both on the subject and on the tone of the statements. This work complements existing literature on information policy by studying the influence of the communication not only on the current economic dynamics, but also on the long-term expectations of agents. In addition, the paper discusses the problems of the effectiveness of the Bank of Russia information policy and considers a number of proposals to improve its efficiency.
This paper raises the issues of the nature and the specificity of the configuration of Russia’s institutional matrix. The authors dispute the widely held view of the “occasional” nature of the institutional choice. Within the framework of the matrix of Muscovy concept, the authors determined one more element of the Russian institutional matrix — the pattern of foreign trade expansion, which is yet understudied. The manifestations of this pattern and resulting path dependence have largely shaped the expansionist mobilization system of the Russian economic development. The authors believe that this pattern has deeply rooted in the Russian institutional matrix, and its manifestations are still present. The change of this pattern and associated raw-exports-driven model calls for transforming the entire institutional matrix.
This article is devoted to theoretical approaches elaborated in framework of the modern concept of internal labor markets. Main focus is concentrated on within firm labor mobility, associations between job assignments and wage rates. Promotions of employee within job ladder are considered as a mechanism to improve two sided matching process of jobs and employees led to employee effectiveness and wage growth. The article uses some cases from Russian enterprise (internal and external labor market environment) to examine within firm labor mobility as an important feather of internal labor markets.
The paper analyzes the impact of the income tax reform and pension system transformation, conducted in the 2000s in Russia at the probability of informal employment choice. Econometric estimation is based on difference-in-differences models and was conducted using representative data of the RLMS-HSE. The impact of reforms on the probability of choosing informal employment estimated for each reform separately, and for the overall impact of the reforms. Complementary log-log specification and model with fixed effects are used. Due to possible different paths of sector employment selection for men and women, the relations between the reforms and informal employment estimated on the subsamples for men and women separately.
In the article, on the basis of a theoretical analysis of the evolution of the system of socio-economic relations in the historical context, scientific approaches to the category "household" were investigated. Despite the fact that household category is one of the basic and historically one of the first categories of economic science, the economic theory has lacks of methodological basis for studying this complex phenomenon. The significant differences in the interpretation by researchers of the content of the household category are due to both objective socio-economic and historical conditions and the institutional pressure of the dominant views. These discrepancies impose limitations on the understanding of systemic relationships of the category and the possibility of its application in modern theoretical studies.
The purpose of this study is to identify the impact of economic conditions on the understanding of the household as a key economic entity. The article shows the influence of economic and social factors on the understanding of the essence of the category "household".
In the research, analytical-gnoseological, system-integration, dialectical methods were used.
Some problems of the logical process of forming of the social partnership institute are described in this article. This process is convinced as result of the evolution of professional education system. The basic stages of starting this process are evaluated including the forming of special legislation in Russia. Also the prospects of development of social partnership institute are estimated.
Th e relevant expertise of both developed and developing countries demonstrates that the use of intellectual resources is critical for improving the performance of small businesses. However, previous research draws insuffi cient attention to the configuration which refl ects the interaction of intellectual resources transforming into corporate operations results. Th is study focuses on identifying direct and indirect eff ects of individual types of intellectual resources on small business performance. According to Andreeva and Garanina (2017), Molodchik and Jardon (2017), Shakina et al. (2017), intellectual capital shows a significant potential to gain competitive advantages and improve fi nancial results in Russian business environment. Given this consideration and the fact that small business plays a crucial role in the sustainable development of the economy, we put forward several hypotheses regarding the interaction between the intellectual capital components in the performance enhancement of Russian small businesses. Verifi cation of the theoretical assumptions is based on the analysis of 126 small enterprises in Perm Krai. The empirical part of the study involves the use of principal component analysis and stepwise regression. The econometric analysis data suggests that values and attitudes of managers and employees, as well as the quality of interaction with other companies, create a direct impact on the performance of small companies in question. The indirect effect in this regard is demonstrated by other components of intellectual capital, namely the quality of business processes, information system, corporate culture, knowledge and skills of employees, cooperation with suppliers. The ultimate structure of intellectual capital which allows small companies to improve their performance is consistent with the previous studies and continues the line of research on intellectual capital, small companies, and emerging markets.
The effective generation of new knowledge determines the development of science, technology, and society as a whole. The object of the research is the research team as an actor of knowledge generation. The research team by its nature is the object of interdisciplinary research, which is at the intersection of economics, sociology, scientometrics, and social psychology. On the basis of an analysis of various theoretical and methodological approaches, we formulated our own definition and classification of research teams. Grounding on the institutional approach to the analysis of collective action, a typology of research teams as network organizations has been developed. In addition, the author has divided the costs of knowledge generation into physical and transaction ones. The results of the research are the foundation for further analysis, in particular, the evaluation of the effectiveness of knowledge generation by research teams.
The article is devoted to the conceptualization of the concept of «sustainable development» and modeling of the author's definition, contributing to clarify its meaning, and integration of the existing diversity of views on the various aspects of sustainable development
The purpose of this article is to answer a question: сan cryptocurrency take the place of a major world currency? I study this issue because of economic agents tend to apply that currency, which is used by others in a currency сirculation. Therefore, there is a tendency of a transition from the international currency system with a set of шnternational currencies to a system with one major world currency or to a system with a small number of international currencies. The first part of the article determines requirements to the major world currency. The second part of the article studies to what extent cryptocurrency conforms to these requirements. The final part describes the characteristics of cryptocurrency, which will allow it to take the place of the world currency. To analyze economic processes, the author applied the system approach as well as the methods of scientific modeling, comparison, and grouping. The analysis has shown that cryptocurrencies existing now cannot take the place of world currency, as they do not conform to many requirements. But at the same time, cryptocurrency as a world currency has competitive advantages over national world currencies. It is decentralized; therefore, when changing the country-leader, other countries can support it. Moreover, it is not a national currency; therefore, its volume is not connected with monetary policy of any country. These benefits give a prospect to cryptocurrency to become a world currency if in other properties it will be as good as modern international currencies. Therefore, in order that cryptocurrency has taken the place of steady world currency, it has to go under certain changes, which presented in the last part of the paper.
This paper analyzes macroeconomic policy under uncertain fiscal policy preferences. We show that uncertain preferences of the government lead to more expansionary monetary policy and more contractionary fiscal policy. As a result, inflation bias is aggravated: expected inflation increases, while expected output drops. Nevertheless, if fiscal multiplier is certain, preference uncertainty does not matter anymore.