Социальное рыночное хозяйство: концепции, практический опыт и перспективы применения в России
The economic crisis of 2008-2009 highlighted new problems in the development of the German social market economy model and brought to the forefront the factors of its resilience that have ensured Germany's leadership positions in the EU. Changes in economic policy have affected in the ﬁrst place the energy and the ﬁnancial sectors. Shifts in the political landscape have led to the appearance of new political parties. These changes have affected the results of the 2013 elections, the liberal democrats failure to enter the Bundestag has made the winner - CDU - seek new coalition partners.
The economic crisis has uncovered three negative Russian tendencies that created institutional obstacles for market economy growth during the last decade: deepening of raw materials specialization, wear and tear of the equipment, gap in scientific and technical progress, and strengthening of the government. To stop these negative tendencies and overcome economic crisis it is necessary to reform developed institutes.
The major problem of the Russian economy is its low performance level. Overcoming development gap in comparison with developed countries will become possible only with the help of innovations. This means that process of generating and using Schumpeterian-type innovations should become the key factor of economic development. It is necessary to note that innovative activity of businessmen can be present in various forms. Depending on existing game rules business activity can get not only productive (J. A. Schumpeter’s creative destruction), but also unproductive (rent seeking) orientation.
The “Concept 2020” analyses the global challenges which Russia faces in its development that amplify high level of social inequality and regional differentiation, preservation of barriers to conducting enterprise activity, weak interrelation of education, science and business, absence of necessary competition in various markets and low level of social capital development. Under these conditions, as A. Gerschenkron wrote, the government becomes the leading factor of economic modernization, and it is its representatives that try to shape the concept of long-term socio-economic development of the country.
It is supposed that gross national product growth will be provided, mainly, by means of priority development of labour productivity and large capital assets investments. Our calculations show they considerably advance growth of productivity and gross national product, and that will lead to increase in a capital intensity of production and falling yield on capital investment. The arising gap between export and import, according to authors of the Concept, will be covered by the accruing inflow of foreign capital.
However the main drawback is the mechanism of maintaining economic growth. Defining concrete aims of development is an important, but an insufficient condition. The institutional mechanism of private sector development stimulation is not developed at all. Meanwhile, sharp increase of expenses on social sphere will raise the question about budget spending. It can be reached either by increase in taxes or by public sector expansion.
In the report it is critically considered not only the official point of view, but also Porter M., Ketels K. “Competitiveness at the Crossroads: Choosing the Future Direction of the Russian Economy”, «The forecast of innovative, technological and structural dynamics of Russian economy till 2030», and RAND Corporation report “The Global Technology Revolution 2020: Trends, Drivers, Barriers, and Social Implications” devoted to tendencies of development of 16 technologies in 29 countries and other forecasts.
In this paper we analyze institutional preconditions and possibilities of application of the concept of social market economy in the 21st century Russia. Basic elements of social market economy are personal liberty, social justice, and economic efficiency.
Personal liberty assumes trust strengthening between agents, development of guarantees of private property, and regular economic policy promoting freedom.
With social justice present market economy promotes social development and strengthens middle class. Democracy will allow to break administrative barriers and to create public control. Social justice also includes address support of vulnerable regions of Russia.
Economic efficiency should be directed towards creation and maintenance of competitive order, strengthening of antimonopoly activity and improving fair entrepreneur’s image. This will make Russia more attractive for workers from abroad and help it develop integrative relations with neighboring countries.
All these measures will raise economic efficiency while creating preconditions for a fast overcoming of the crisis and increasing the well-being and the acceleration of economic development of Russia.
The first post-war decades for West Germany were marked by a rapid economic recovery, which, despite the devastating catastrophe of the Second World War and the ensuing split of the state, quickly returned the country to the number of highly developed industrial nations of the world. The monetary and economic reforms carried out in 1948 made it possible not only to lay the foundations of monetary and financial stability, to increase incentives for the growth of entrepreneurial activity and labor productivity, but also to create conditions for carrying out the economic policy (Ordnungspolitik) of the Social market economy. Based on the idea of building a free, efficient and at the same time socially fair market system, the concept of a Social market economy succeeded in filling the institutional vacuum of the post-war period, gaining wide recognition of German voters and becoming the fundamental constituent element of the social and economic system of Germany. Thanks to the high GDP growth rates achieved in the 1950s and 1960s, the Western Germans were able to quickly overcome post-war disruption, cope with unemployment, substantially raise the standard of living of broad sections of the population and ensure a high level of economic, social and political stability in the long term. The authors analyze the formation of the ideational foundations of the Social market economy in Germany - a concept which theoretical framework is based on various streams of socio-economic and legal thought. First, we will draw the attention on the fundamental principles of German ordoliberal economic thought, principles that directly influenced the formation of the doctrine of a new social and economic system in post-war West Germany. After that, we will highlight the most important aspects that define the social foundation of a Social market economy - the concept of a policy of order in the first decades of the existence of the Federal Republic of Germany. Then we will transfer these reflections to the modern theory of order in order to determine the place and role of social policy in the current socio-economic system of the Federal Republic. In conclusion, some propositions concerning the importance of the policy of order in the structure of modern economic science will be formulated.
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.
The results of cross-cultural research of implicit theories of innovativeness among students and teachers, representatives of three ethnocultural groups: Russians, the people of the North Caucasus (Chechens and Ingushs) and Tuvinians (N=804) are presented. Intergroup differences in implicit theories of innovativeness are revealed: the ‘individual’ theories of innovativeness prevail among Russians and among the students, the ‘social’ theories of innovativeness are more expressed among respondents from the North Caucasus, Tuva and among the teachers. Using the structural equations modeling the universal model of values impact on implicit theories of innovativeness and attitudes towards innovations is constructed. Values of the Openness to changes and individual theories of innovativeness promote the positive relation to innovations. Results of research have shown that implicit theories of innovativeness differ in different cultures, and values make different impact on the attitudes towards innovations and innovative experience in different cultures.
The paper examines the principles for the supervision of financial conglomerates proposed by BCBS in the consultative document published in December 2011. Moreover, the article proposes a number of suggestions worked out by the authors within the HSE research team.