The paper analyzes the models of direct interaction between producers and customers of farmers’ products. We demonstrate that the most effective ways of distribution of these products are servicization of retail, e-commerce, vending and direct purchase activity of retailers. The most effective state strategy aimed at supporting farmers’ access to end customers should be the stimulation of these channels of distribution development.
This paper examines the impact of the main regular communication channel of the Bank of Russia – press releases after the Bank of Russia Board of Directors meetings on monetary policy issues – on the Moscow Prime Offered Rate (MosPrime Rate). We show that the press releases of the Bank of Russia can have a significant impact on the MosPrime Rate and its volatility.
The article compares the accuracy of point forecasts made with a structural dynamic stochastic general equilibrium model (DSGE) to those made with vector autoregressions estimated by OLS (VAR) and by Bayesian methods (BVAR).The main question addressed in the article is whether DSGE-based forecasts are as accurate as non-structural model forecasts. The comparison is made on the ground of mean squared forecast errors. The results show that the forecasting ability of the DSGE model is in general inferior to that of the BVAR. However, the difference is not critical. Moreover, for some variables and forecasting horizons, the DSGE model produces the forecast with the lowest error among all three models in question.
The paper analyzes the shifts in government priorities in terms of support of big and medium manufacturing enterprises amid 2008—2009 and 2014—2015 crises. Based on the data of 2009, 2014 and 2018 surveys of Russian manufacturing firms, using logit regressions we identify factors that affect the receipt of financial and organizational support at different levels of government. The analysis shows that in 2012—2013 the share of manufacturing firms that received state support shrank significantly as compared to 2007—2008; moreover, the support concentrated on enterprises that had access to lobbying resource (such as state participation in the ownership or business associations membership). In 2016—2017 the scale of state support coverage recovered. However, the support at all levels of government was provided to firms that carried out investment and provided assistance to regional or local authorities in social development of the region, while the factor of state participation in the ownership became insignificant. The paper provides possible explanation for these shifts in the criteria of state support provision in Russia.
The paper considers the factors explaining violent pressure of law enforcement agencies on businessmen in Russia in recent years. This phenomenon has been analyzed from the viewpoint of “destructive entrepreneurship” concept (Baumol, 1990) and “limited access order” framework (North et al, 2009). The paper stresses the key role of economic and political organizations in defending entrepreneurs’ interests. It proposes a number of policy recommendations on incentive system design for law enforcement agencies and development of their public communications with business and civil society organizations.