"Третий мир": спустя полстолетия
This paper analyzes the trends in the corporate bond market of the Russian Federation, denotes its weaknesses. We first empirically investigate determinants of the development of corporate bond markets with account of different sensitivity to the influence of institutional factors for different groups of countries. Methodology of our research ‑ multifactor regressions and generalized method of moments. The sample includes 28 developed and developing countries. We obtain original conclusions about influence of institutional factors on corporate bond markets: in particular, we reveal a positive influence of quality of institutional environment on the fast-growing Next11 countries, as well as significance of human capital for a number of developing countries.
The article shows the role of tourism in the world economy, its impact on the level of welfare of the population of the world countries and also the author discover the directions of the activities of the World tourism organization for the eradication of poverty in developing countries.
A model of contract theory is studied, where the objective functions of a regulation body and firms of two types involve ecological variables. It is shown that the way of working of the regulation mechanism (separating or pooling) depends on both political condition (regulators of what type set mechanism and contracts), and on economic conditions (distinction between “dirty” and “green” firms in efficiency and a degree of their spreading in the economy).