Improving the use of economic instruments for water management in the republic of buryatia (Lake Baikal Basin)
The main objective of OECD project was the development of recommendations aimed at improving the use of economic and other instruments for management of water resources for ensuring sustainable development of water sector, as well as socio-economic development of the Republic of Buryatia as the whole. The project consisted of three stages that resulted in the devуlopment of specific relevant reports, included in the given series of works implemented on the commission of OECD.
Proposed recommendations rather relate to improvement of water policies while the aim of the series of projects was not the development of detailed methodologies or instructions on application of specific instruments, but identification of a main direction of policy in the field of water resource management. Such methodological guidence on application and improvement of various administrative and economic instruments would be developed later, after principal political decisions on the proposed measures are made.
The article is devoted to the key problems related to the financing of innovation projects by commercial banks in Russia: the high risk of credit uncollectibility, the deficit of long-term bank resources, the specific profile of the potential company-borrower and others. To solve these problems the experience of foreign countries seems to be valuable in case of its adaptation to the Russian context.
An IT security vulnerability can be considered as an inherent weakness in a target system that could be exploited by a threat source. The underlying hypothesis in our proposal is that each identified attribute associated with the target entity to be controlled should show the highest quality satisfaction level as an elementary indicator. The higher the quality indicator value achieved per each attribute, the lower the vulnerability indicator value and therefore the potential impact from the risk standpoint. In the present work, we discuss the added value of supporting the IT security and risk assessment areas with measurement and evaluation (M&E) methods and strategy, which are based on metrics and indicators. Also we illustrate excerpts of an M&E case study for characteristics and attributes of Security, and their potential risk assessment.
Since 2008, the world economy has been facing consequences of the global financial crisis. One of them is rapid growth in public debt in most advanced economies, which resulted from an overoptimistic estimate of fiscal situation before the crisis, declining government revenue and increasing social expenditure during the crisis, costs of the banking system restructuring, countercyclical fiscal policies, etc.
For this reason, many governments are trying to determine a ‘safe’ level of fiscal deficit and public debt. However, this is not an easy task. There is no single standard of fiscal safety for all economies. Besides, a globalized economy and irregular business cycle make it difficult to find out in which phase of the cycle a given economy is at the moment, while this is essential to assess fiscal indicators.
Historical experience shows that default risk may materialize at different levels of public debt, sometimes seemingly very low. In fact, a ‘safe’ borrowing level is country-specific and depends on many factors and often unpredictable circumstances. However, given the tense situation in global markets, the ‘safe’ level of public debt is lower than it used to be a decade ago. Another argument for a cautious approach concerns a highly pro-cyclical nature of such measures as the fiscal deficit to GDP or public debt to GDP ratios.
Lessons of the latest crises also indicate importance of more accurate estimation of countries’ contingent fiscal liabilities, particularly of those relating to the stability in the financial sector. If looking into the future, a correct estimation of other contingent liabilities, particularly those related to social welfare systems (implicit debt of the public pension and health systems) are of primary importance in the context of the ageing society and population decline. These liabilities far exceed official statistics on the public debt in some counties. As a result, such statistics does not present an adequate picture of the nation's public debt and actual fiscal burden that will be imposed on the shoulders of the following generations of taxpayers.
This paper studies fiscal policy in Russia 2004–2010 with the aid of structural budget balance and fiscal impulse measures. To check for robustness several methods estimating the potential GDP are employed. The research suggests a hypothesis that the output in Russia is subject to two types of shocks: persistent outward shocks and short-term internal shocks. In 2004–2010, fiscal policy coped with the internal shocks but could not smooth outward instability. Fiscal policy in Russia is procyclical; it does not stabilize the output.
We address the external effects on public sector efficiency measures acquired using Data Envelopment Analysis. We use the health care system in Russian regions in 2011 to evaluate modern approaches to accounting for external effects. We propose a promising method of correcting DEA efficiency measures. Despite the multiple advantages DEA offers, the usage of this approach carries with it a number of methodological difficulties. Accounting for multiple factors of efficiency calls for more complex methods, among which the most promising are DMU clustering and calculating local production possibility frontiers. Using regression models for estimate correction requires further study due to possible systematic errors during estimation. A mixture of data correction and DMU clustering together with multi-stage DEA seems most promising at the moment. Analyzing several stages of transforming society’s resources into social welfare will allow for picking out the weak points in a state agency’s work.
The given report is the result of implementation of the first component of the series of projects under the common title "Improving the use of economic instruments of water management in the Republic of Buryatia (lake Baikal basin)", implemented under the auspices of the Organisation for Economic Cooperation and Devlopment (OECD) in support of the water policy dialogue in the Republic of Buryatia in cooperation with the EU Water Initiative. The analytical report contains the results of the analysis of the use of economic instruments of water resources management in the Republic of Buryatia. According to the performed analysis some conclusions were made along with identification of key directions for improving application of instruments for water resources management in the Republic of Buryatia for further development within the framework of the project.
Chapter of the book examines the fiscal policy of Russia and, mainly, the creation of the Stabilization Fund as a mean to counter the negative effects of external macroeconomic conditions. The role of the Stabilization Fund in Russia in the early period of the crisis of 2008-09 was shown.