The paper presents an approach to quantitative estimation of socio-economic benefits from oil extraction (in the US). The approach explicitly distinguishes the contribution of non-institutional and institutional factors. Calculations show that in the United States the influence and dynamics of institutional factors are related to steady deterioration of natural conditions of oil extraction. In general, the US resource regime can be called stimulating, as is evidenced by a small proportion of adverse effects due to preservation of residual oil.
The paper applies multiregional CGE Economic Policy Projection and Analysis (EPPA) model to analyze major risks the Paris Agreement on climate change adopted in 2015 brings to Russia. The authors come to the conclusion that if parties of the Agreement meet their targets that were set for 2030 it may lead to the decrease of average annual GDP growth rates by 0.2—0.3 p. p. Stricter climate policies beyond this year would bring GDP growth rates reduction in 2035—2050 by additional 0.5 p. p. If Russia doesn’t ratify Paris Agreement, these losses may increase. In order to mitigate these risks, diversification of Russian economy is required.
The article develops methodological approach to the analysis of groups of interests' influence on the choice of Russia's development strategy. It is possible to pass on to the analysis of specific issues of economic policy by forming several sub-groups in every analytical group. The article also considers the structure of Russian economy which was formed as a result of transformational crisis' influence on Soviet economy, and relevant international comparisons. Main alternative ways of transition to innovational development are the renewal of Soviet triangle economy (the scenario Mobilization) and complex institutional changes (the scenario Modernization).
We study hiring decisions made by competing universities in a dynamic framework, focusing on the structure of university finance. Universities with annual state-approved financing underinvest in high-quality faculty, while universities that receive a significant part of their annual income from returns on endowments hire fewer but better faculty and provide long-term contracts. If university financing is linked to the number of students, there is additional pressure to hire low-quality short-term staff. An increase in the university's budget might force the university to switch its priorities from research to teaching in equilibrium. We employ our model to discuss the necessity for state-financed endowments, and investigate the political economics of competition between universities, path-dependence in the development of the university system, and higher-education reform in emerging market economies.