The subject of the article is “unorthodox” gazelles — politically-connected or big business-affiliated fast-growing firms. It is established that rents play a significant role in the commercial success of such firms. Nevertheless, as predicted by the well-known “limited access framework” (by D. North and coauthors), and contrary to the standard interpretation of rents, the latter can play a positive role in the transitional economy. The authors have identified on empirical material some clearly positive scenarios among the main patterns of the development of “unorthodox” gazelles in Russia. The article discusses the conditions under which “unorthodox” gazelles can become an instrument of developmental state.
The paper provides an overview of the key issues discussed in the recent economic literature on inequality. It highlights such topics as measurement subtleties; dynamics in inequality levels; possible drivers behind inequality growth; relationship between inter- and intra-countries’ inequality; shape of long-term trends (the Kuznets hypothesis); effects of inequality on economic growth; supposed earnings stagnation in developed countries; increased remuneration gap between top-managers and other workers; growing share of capital incomes in GDP; relationship between market competition and inequality; various normative aspects. A general conclusion is that in normative terms inequality per se represents a pseudo-problem though it might be a manifestation of different fundamental economic and social problems.
We study the dynamics of inter-regional disparities for a number of characteristics of development, test the hypothesis of the new economic geography. The empirical analysis shows the spatial concentration of economic activity is continuing in Russia and the rate of inter-regional divergence, is rather high. The factors of the spatial concentration and regional disparities in Russia are population density, size and accessibility of markets, as well as the level of diversification and industry structure of the economy.
This article discusses the factors that affect the chances of a favorable resolution of claims to the WTO dispute settlement. On the basis of 488 complaints received by the WTO since the establishment of the organization by 2014, we demonstrated that the developing countries have a smaller probability of successful resolution in the dispute than the developed countries. This inequality can be explained by differences in the size of economies (GDP), but the paper shows that differences in the country’s experience of participation in WTO disputes have a higher predictive power.
Private property exists in Russia for almost 25 years. However, the legitimacy of established property rights and the legitimacy of private property as an institution remain ambiguous. Despite the change of generations and the improvement of living standards, numerous opinion polls show that the majority of Russians refers negatively not only to the privatization of the 1990s and its results, but also to private property in general. Positive forecasts on the adaptation of people to new reality do not come true. The authors analyze the reasons and consequences of private property illegitimacy and compare alternative ways of its legitimating. The main conclusion is the uselessness of any discretionary state intervention in this long-lasting process, while the focus should be put on the mitigation of inequality and the enforcement of formal institutions without any exceptions or privileges.
The article focuses on diversification and destandartization of employment in the Russian economy. The authors discuss global and objective preconditions for this process but underline a few specific features of the Russian case. The latter are due to the market transition as well as to incomplete and selective enforcement of the excessively restrictive employment protection legislation. This explains high incidence of household-based subsistence farming, underemployment, time-related overemployment, informal employment against low level of formal contracts for fixed-term or part-time employment. Using representative data the authors illustrate all major forms of non-standard employment in Russia that have evolved since 1992.
This article presents an analysis of product- and destination- variety of exports in Russian regions 2002-2010. We propose a methodology for the decomposition of export growth into intensive and extensive margins and distinguish between product- and geographic extensive margin components. The analysis allows to identify five clusters of manufacturing industries that may become the basis of non-primary export expansion in the Russian economy. The authors propose a new approach to regional groupings in Russia that synthesizes the characteristics of regions associated with the type of socio-economic development and qualitative characteristics of the export dynamics.
The Great Recession in 2008–2009 and slow recovery after it became a significant challenge both for economic policy and theory, especially for economic growth studies. New circumstances have revealed new stylized facts, for instance, the decrease in growth rates and capital accumulation in advanced economies. The paper analyzes responses to and outcomes of the Great Recession for countries at different stages of development. The authors consider the investment impact on economic growth varying through seven clusters of countries, determined according to GDP (PPP) level per capita. An attempt has been made to reveal new stylized facts based on current trends and to revise some theoretical approaches to the analysis of economic growth.
Positive impact of human capital on economic growth seems to be undisputable but its magnitude depends on to what extent high quality education and skills are demanded and valued by the labour market. This essay argues that lack of demand for human capital cannot be cured by growing supply if other things remain intact. The author formulates 10 doubts concerning human capital absorption in the Russian economy. The doubts, supported by statistical and anecdotal evidence, relate to low quality of the Russian institutional environment which limits demand for labour and distorts its structure.