A Systemic Vision of the Crises: From Optimization to Change Strategy? 10th Congress of the European Union for Systemics (UES2018)
The book contains abstracts of papers presented at the 10th congress of the European Union for Systemics (UES2018) "A Systemic Vision of the Crises: From Optimization to Change Strategy?" which took place in Brussels, in October 15-17, 2018.
It is shown in the paper that ecology can be considered not only its strict sense as co-existence and co-evolution of man and nature, but also as ecology of human action in the social world.
Crisis as a phase of an economic cycle is of most interest. Study of crises in historical retrospective is necessary for understanding of the main mechanisms, regularities and causes of crisis phenomena. The article deals with the history of the world economic crises and classification of their causes.
The conference is organized in collaboration with Polish Economic Society Branch in Toruń and Brno University of Technology (Czech Republic), BA School of Business and Finance (Latvia), Daugavpils University (Lithuania), Pereyaslav-Khmelnitsky Hryhoriy Skovoroda State Pedagogical University (Ukraine), University of Angers (France), University of Pablo de Olavide (Spain), University of Latvia (Latvia). The conference is addressed to economist from all European Union countries and Eastern Europe. It aims to bring together economists form Western, Central and Eastern Europe to discuss issues in economics, finance and business management. Main conference tracks include: 1. Macroeconomics; Microeconomics; Econometrics; International Economics 2. Financial markets; Labour markets; Institutions; 3. Business environment; Management and Marketing.
Using data on foreign borrowing, I identify Russian banks that were affected by the sudden stop of external financing caused by the Lehman Brothers’ collapse. Applying the difference-in-difference method, I compare these «affected» banks to «unaffected» ones and find that the Russian Central Bank’s (CBR) anti-crisis financial assistance primarily went to the former group. Tracing the impact of the CBR’s liquidity infusions on banks’ portfolio allocation decisions, I find that banks used CBR funds not only to pay out foreign debt, but also to accumulate cash deposits in non-resident banks. I also find that affected banks increased their holdings of market securities significantly more than unaffected ones, which suggests that the CBR’s bailout policies impacted their risk-taking strategies. While there was no significant difference in corporate lending growth between the two groups after the sudden stop, lending to borrowers with weaker banking relationships (individuals and entrepreneurs) decreased more among affected banks.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.
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.