In 1981 in Chile the Pinochet regime reformed the state-led PAYG pension system into the private pension system. Chilean experiment attracted the attention of both politicians and experts around the world and laid the foundations for the new pension orthodoxy. As a result, more than 30 countries (mostly in Latin America and in the former Soviet bloc) followed the Chilean model and privatized pension systems. The paper considers the design and results of the Chilean pension reform. The aim of the paper is to show the specific path of transformation of theoretical concepts into actual economic policy. The research provides two key results. The first is that although pension reforms of recent decades were influenced by the ideas of liberalism, their design and implementation in fact suited the pattern of the new paternalism characteristic of “neoliberalism”. The second is that implementation of the Chilean model in other countries was due to the persuasiveness of the discourse of the new pension orthodoxy rather than to actual performance of the Chilean pension system.
The experience of the last decade has demonstrated that the state policy on the extension of competitive procedures in public procurement has been challenged by the attempts of customers and suppliers to restrict competition. The mass survey of customers and suppliers carried out by the Institute for Industrial and Market Studies in 2017 showed that about a half of the customersfollowed a strategy of contracting predetermined suppliers in 2014—2016. Moreover, different explanations of this practice (justification, accusation or a combination of both reasons) allowed us to identify groups of suppliers that differ significantly in their models of behavior in the public procurement market.
The paper takes a critical view on the prevalent approaches to developing financial literacy programs. It has been shown that meta-analytical and review studies indicate low efficiency of financial literacy improvement programs: their effect on financial behavior is either statistically insignificant or statistically sig- nificant, but practically negligible. Among potential reasons of financial literacy programs low efficiency are considered the role of behavioral factors in financial decision making and the impossibility of determining “financially literate” behav- ior from the perspective of an outside observer. It is concluded that the currently dominant criteria for assessing financially competent behavior can be characterized either as procedural, within which not the consequences of financial decisions are considered, but how consciously they are taken, or as normative, within which the government differentiates the consumers attitudes into wrong and right. Both groups of criteria are based on a non-economic understanding of rationality.
China’s initiative about “One Belt, One Road” could be treated ambiguously. On the one hand, it is intended to transform the newly acquired economic potential of that country into her higher status in the world. China invites a lot of nations to build up gigantic transit corridors by joint efforts, and doing so she applies productively her capital and technologies. International transactions in RMB are also being expanded. But, on the other hand, “One Belt, One Road” is also a necessity for China to cope with some evident problems of her current stage of development, such as industrial overcapacity, overdependence on imports of raw materials from a narrow circle of countries, and a subordinate status in global value chains. For Russia a participation in “One Belt, One Road” may be fruitful, since the very character of that project provides us with a space to manoeuvre. By now, Russian exports to China consist primarily of fuels and other commodities. More active industrial policy is needed to correct this situation. A flexible framework of “One Belt, One Road” is more suitable for this objective to be achieved, rather than traditional forms of regional integration, such as a free trade area.
The paper analyses the concepts of transparency and accountability, their correlation with other key concepts used in Russian social and economic discourses, and also the critique of the transparency and accountability practices. It is shown that the main effect of development of these technologies is the substitution of reality by the “picture” formed for external users, transformation of this “picture” into the self-purpose. The reason of this is the change of paradigms of trust. Society has passed from trust in authorities with their right to make decisions on the basis of professional judgment to trust in procedures and standards, trust in “picture”. We have changed trust in result to trust in processes of its receiving.
The article presents an analysis of the” deep " factors of labor productivity in the companies of the basic non-resource sectors of the Russian economy. At the company level, the role of innovation and investment activity, human capital development, competitive environment and state support in the company's behavior in the markets and increasing productivity is considered. As data, we used the results of a survey of managers of 713 companies in basic non-resource sectors of the economy (manufacturing, agriculture, transport, construction).
There is a high level of divergence of companies in terms of productivity, including within industries, and there are signs of increasing such differentiation.It is shown that a higher level of productivity is combined with investments in human capital, fixed assets, and the use of digital technologies, but there is no clear link between innovation and research and development expenditures. The latter can be attributed to the existence of alternative ways to ensure productivity growth in the Russian economy, for example, in monopolized sectors.
At the same time, productivity growth is combined not only with investment, but also with innovation activity (process innovations), and R & d expenditures. Note that there is a non-linear nature of the impact of research and development expenditures –a positive effect is noticeable with a significant intensity of such expenditures.The private sector is the driver of productivity growth: increasing productivity is typical for companies focused on private medium and large companies. An important factor is the state of the competitive environment: a positive condition for productivity growth is moderate competition with imports(which serves as an example for Russian companies to innovate).
In the last 5 years, we can note the process of gradual displacement of low-productivity firms from the Russian markets by high-performance ones –the most noticeable reduction in the share of "old" companies created in the Soviet era. However, there is still a significant number of companies that are not motivated to increase productivity and whose competitiveness depends on other factors, which indicates significant distortions in the competitive environment, in the interaction of business and the state, and in the corporate governance system.