Actual challenges of the ecological-economic system for the case study of the Republic of Armenia (RA) are considered in the paper. The simulation of the ecological-economic system based on methods of the agent-based modelling and the system-dynamics, which allowed designing the Ecological Map of RA, was created. The important purpose of the suggested approach is to seek scenarios of a modernization of enterprises, which are main sources of the air pollution with simultaneous determining the effective strategy of the government regulation. The bi-criteria optimization problem of parameters of the ecological-economic system was formulated and solved for the case study of RA.
The author examines how the principles for financial analysis of the company should be adjusted to the requirements of knowledge-based economy. The proposed model for strategic financial analysis is based on stakeholder value added creation (STVA). The model includes residual income criteria for evaluation of corporate performance, new framework for measuring the capital and financial assessment of corporate strategies. Finally, the stakeholder value added toolbox based on new financial measurers and non-financial indicators is introduced for STVA monitoring.
There is no universal approach towards definition of economic nature of hybrids within the economic science. The present paper contains a description of possible ways of solution of this problem.
The paper contains a description of three approaches towards the nature of hybrid structures. It is demonstrated that the ontological status of hybrids within these approaches is different. A classification of hybrids based on the criterion of composition of mechanism of coordination is given. The notion of metafirm is introduced. Metafirm is considered as generalization for different types of economic structures. The list of criteria that can be used to distinguish hybrids and metafirms is proposed. It is demonstrated that metafirm helps its members to increase stability of their business and reduce uncertainty of external environment. An algorithm of metafirm formation is proposed
The new approach to parity of prices is the subject of article. The base of this approach is estimation of parameters of model for comparison of prices between countries. The disparity of the prices is defined as a sharp deviation of the price from the parity. Milk is taken as an example. The model on which the parity of the prices is defined, has been developed for the longterm prices fore- casting. The realization of the certain scenario of development of a national economy is a base of such forecasting
Planning for social and economic development of Russia is seen as a platform for market participants to have agreements on join action to adress issues of common interest. On the example of the USSR State Planning the operation of a plan is illustrated. The role of associations (unions) of producers and consumers in developing the plan is marked. Attention is drawn to the need to predict supply prices from producer's assosiations and demand prices from unions of consumers. The state should be arbiter of tense situations.
For centuries, Russia is lagging behind the countries called the West. The choice of Switzerland as a benchmark for comparison is justified.. In 2016 GDP per capita in new nations within the borders of the USSR was 10 points less 1886. The Soviet-era gains in bringing living standards closer to the West were lost.
The close relationship seven ratings of countries describing different aspects of the standard of living is shown.
The main question that the author seeks to answer: "Why has Switzerland, which is poor in natural resources, been significantly ahead of Russia, which is rich in them, in terms of living standards for centuries?"
The fundamental difference in the relationship of the government to citizens is the answer to this question. In Russia, for centuries, the system "Ruler – loyal subjects", and in Switzerland, "citizen - civil servant ". In Russia, the ruler determines what to do, and the loyal subjects follow his instructions. In Switzerland, the citizens in a referendum to determine what to do and they do it under the rules written by the civil servants . Higher motivation of people in the free enterprise system determines their higher productivity, and through it, a higher standard of living.
In Russia, power is formed by a representative democracy, and in Switzerland by a direct one, which is much closer to the age-old aspirations of the people about the will. .
The paper continues our previous article «Social Discount Rate for Russia: methodology, appraisal, regional differences» published in 2012 in this journal (№ 3 (58)). The present paper describes situations where a social opportunity cost of capital approach should be used for evaluation of a social discount rate. We consider international practice in applying this approach, regard methodology and make calculations for Russia. It is revealed that the approach is relevant when a social problem can be solved in both the public sector and the private sector. It is also helpful for evaluation of budget performance. The necessity of taking into account particular sectoral features of public investments is substantiated. The results of calculations and differences found are explained.
The article analyses (per hour) labor productivity dynamics of Russian manufacturing sector in 1995-2008 and presents 2007 year estimates of labor productivity levels for Russia and 9 countries in 13 manufacturing industries. The group of countries includes Russia, USA, Germany, France, CEE countries and China. In contrast to previous works, level comparisons are based on industrial PPPs (which gives more precise estimates), analysis captures wider country grouping and more detailed industry level. Russian manufacturing sector labor productivity is only 18% of US level (in 2007 year). Better stance is in metallurgy (51% of US level) and pulp and paper industry (36% of US level). The worst stance (4-11% of US level) is in wood products, chemical industry and machinery. Considerable productivity gaps are the evidence of technological weakness of Russian economy, but also it implies the possibility of catching up by means of technology borrowing. Labor productivity level analysis shows that Czech, Hungary, Latvia and the most developed industries of China manufacturing can be considered as perspective sources of technology borrowing for Russia.
Knowledge production function displays the relationship between firm innovative efforts and its results obtained in form of useful knowledge. Analysis of the function allows a better understanding of firm innovation activity for better management of corporate resources. The current paper presents an overview of significant studies on this topic. The paper briefly describes evolution of approaches to the knowledge production function analysis, choice of variables for measurement of innovation input and output and econometric modeling.
The article is devoted to the development of global value chains within the regional economic integrations and to the successful experiences of these processes for the Eurasian integration. The development of production chains in the regional trade is possible under the conditions of the openness of the integration group for the international market and foreign direct capital, investment in the creation and development of the transportation systems, and the successive liberalization of tariff and customs restrictions. Using key economic indicators and trade data in terms of Trade in Value-Added (TiVA) produced by international organizations such as OECD, WTO and UNCTAD, the authors reveal the link between the trade policy and the involvement of countries in global value chains. The authors describe the opportunities of the development of production chains in the framework of Eurasian Economic Union, and what obstacles there are. For the analysis of openness of the Russian economy to the external market and assessing the involvement in global value chains the authors have also been used the elasticity of exports and imports. The article describes the industries in the countries of the Eurasian Economic Union, which relatively successfully involved in the global fragmentation of production. As a result of the analysis, the authors identify the main directions of improvement of the foreign economic regulation of the EEU countries for their active participation in global value chains while maintaining the priorities in the field of economic integration. The main of them are – development of the tax system, the coordination of macroeconomic and trade policies, elimination of non-tariff restrictions among participating countries. Improvement of customs regulation is impossible without the adoption of the customs code of the Eurasian economic union, which has to regulate the registration and control of imports to the single customs territory. The active development of intra-regional production linkages requires technological division of labor on the basic phases of product creation that, in turn, reduces commodity specialization in the mutual trade.