Recent Applications of Financial Risk Modelling and Portfolio Management is a pivotal reference source that provides vital research on the use of modern data analysis as well as quantitative methods for developing successful portfolio and risk management techniques. While highlighting topics such as credit scoring, investment strategies, and budgeting, this publication explores diverse models for achieving investment goals as well as improving upon traditional financial modelling methods. This book is ideally designed for researchers, financial analysts, executives, practitioners, policymakers, academicians, and students seeking current research on contemporary risk management strategies in the financial sector.
This chapter addresses the economics of regional disparities and transport policies in the European Union, offering an explanation for the uneven development of regions. We show that recent developments in spatial economics highlight the fact that trade is costly and location still matters. Since the drop in transport costs and the emergence of a knowledge-based economy, the proximity to natural resources has been replaced by new drivers of regional growth that rely on human capital and cognitive skills. Regions with a high market potential – those where demand is high and transport costs low – are likely to attract more firms and pay higher wages, which leads to sizable and lasting regional disparities. As a consequence, investments in interregional transport policies may not deliver their expected effects. In addition, new information and communication devices foster the fragmentation of the supply chain and the decentralization of activities.
The regulatory policy report is the latest in a series written in cooperation with the Higher School of Economics and expert and business communities during the work on a comprehensive strategy to modernize the public administration system in Russia. For CSR, changing the regulatory policy along with introducing modern managerial approaches to public administration, personnel policy, and large-scale digital transformation, is a priority for successful structural reforms.
The ideas and suggestions on the regulatory policy presented by CSR were of great interest to the Russian business community. CSR received dozens of conceptual proposals from experts, businessmen, and public officials from all over Russia. We worked on promising regulatory policy tools and a comprehensive strategy for two years and a major part of our deliverables can be found in Chapter 3 of this report. Many of these proposals were also included in the Development Strategy for 2018–2024 presented by CSR at the request of the Russian President.
In order to understand a country as large and diverse as Russia, it is extremely important to consider spatial patterns of economic development. As Russia looks for new drivers of economic growth, it is important to understand the structural conditions that have defined economic development in Russia’s regions. This report uses the Economic Potential Index (EPI) methodology to identify the conditions that drive regional development. Economic potential is the level of productivity that is possible for a region to achieve given its structural endowments, which are characteristics that are hard to alter in the short run. The methodology used in this report combines quantitative analysis of drivers of productivity across regions with in-depth case studies that focus on the role of regional governments and institutions in converting endowments into economic outcomes. This methodology generates insights that are relevant for both national and regional governments. The first chapter of this report provides an overview of regional development in Russia over the last 25 years and identifies “Russia-specific” national structural conditions that may affect regional development. The second chapter discusses the results of an assessment of economic potential at the regional level and the factors that shape it in Russia. The third chapter focuses on the role of national and regional governance, policy, and institutions in promoting economic development of the regions. The final chapter proposes policy priorities for both regional and national authorities.
By the end of the 2000s, the term "resource curse" had become so widespread that it had turned into a kind of magic keyword, not only in the scholarly language of the social sciences, but also in the discourse of politicians, commentators and analysts all over the world-—like the term "modernization" in the early 1960s or "transition" in the early 1990s. In fact, the aggravation of many problems in the global economy and politics, against the background of the rally of oil prices in 2004–2008, became the environment for academic and public debates about the role of natural resources in general, and oil and gas in particular, in the development of various societies. The results of numerous studies do not give a clear answer to questions about the nature and mechanisms of the influence of the oil and gas abundance on the economic, political and social processes in various states and nations. However, the majority of scholars and observers agree that this influence in the most of countries is primarily negative. Resource Curse and Post-Soviet Eurasia: Oil, Gas, and Modernization is an in-depth analysis of the impact of oil and gas abundance on political, economic, and social developments of Russia and other post-Soviet states and nations (such as Kazakhstan and Azerbaijan). The chapters of the book systematically examine various effects of "resource curse" in different arenas such as state building, regime changes, rule of law, property rights, policy-making, interest representation, and international relations in theoretical, historical, and comparative perspectives. The authors analyze the role of oil and gas dependency in the evolution and subsequent collapse of the Soviet Union, authoritarian drift of post-Soviet countries, building of predatory state and pendulum-like swings of Russia from "state capture" of 1990s to "business capture" of 2000s, uneasy relationships between the state and special interest groups, and numerous problems of "geo-economics" of pipelines in post-Soviet Eurasia.
The first yearbook, published by the Observatoire franco-russe, aims to provide the most complete analysis possible of the situation in Russia. Bringing together the contributions of some 50 recognized experts, it is organized around four themes: the economy, internal politics and society, regions and foreign and defense policy. The fifth part, entitled “Franco-Russian Miscellany”, illustrates the history, diversity and exceptional richness of relations between our two countries. Considering discrepancies between perceptions of Russia in Europe and the evolutions that have occurred in the country since the end of the UDDR, the Observatoire wishes to provide dispassionate, in-depth, operational and accessible expertise. In other words, to restore a measure of nuance and complexity to a subject too often caricatured either intentionally or by ignorance.
In early 2010 Russia once again entered a turbulent period. From the system of property distribution, to structure of the political elites and relations between the Center and the regions - various spheres of Russian life are in a state of flux. Two major factors are driving this change: oil prices which are unlikely to grow the way they did in the 2000s and the rapidly deteriorating efficiency of governance. Relations between federal and regional elites, as well as public activism, are derived from these two factors and play an important role of their own. Will change take an evolutionary path or is Russia facing another revolution? The book offers a view of the Russian future until 2025 based on thematic scenarios created by an international team of Russia scholars whose expertise range from politics and economics to demographics and foreign policy.
Russia after the Global Economic Crisis examines this important country after the financial crisis of 2007–09. The second book from The Russia Balance Sheet Project, a collaboration of two of the world's preeminent research institutions, the Peterson Institute for International Economics and the Center for Strategic and International Studies (CSIS), not only assesses Russia's international and domestic policy challenges but also provides an all-encompassing review of this important country's foreign and domestic issues. The authors consider foreign policy, Russia and it neighbors, climate change, Russia's role in the world, domestic politics, and corruption.
It is not so easy to take the long view of socioeconomic history when you are participating in a revolution. For that reason, Russian economist Yegor Gaidar put aside an early version of this work to take up a series of government positions--as Minister of Finance and as Boris Yeltsin's acting Prime Minister--in the early 1990s. In government, Gaidar shepherded Russia through its transition to a market economy after years of socialism. Once out of government, Gaidar turned again to his consideration of Russia's economic history and long-term economic and political challenges. This book, revised and updated shortly before his death in 2009, is the result. Its transition complete, Russia is once again becoming part of the modern world. Gaidar's account of long-term socioeconomic trends puts his country in historical context and outlines problems faced by Russia (and other developing economies) that more developed countries have already encountered: aging populations, migration, evolution of the system of social protection, changes in the armed forces, and balancing stability and flexibility in democratic institutions.
Topics of discussion in this astonishingly erudite work range from the phenomenon of modern economic growth to agrarian societies to Russia's development trajectory. The book features an epilogue written by Gaidar for this English-language edition. This is not a memoir, but, Gaidar points out, neither is it "written from the position of a man who spent his entire life in a research institute." Gaidar's "long view" is inevitably informed and enriched by his experience in government at a watershed moment in history.
This report analyzes the development trends and conditions of the Russian economy, specifically its energy sector. It also reviews the projections of carbon emissions by 2020 and beyond in the context of the Russian government's scenarios of economic development. The second section of the report focuses on Russia's position in the negotiation process on a post-2012 climate regime, including the emission limitation pledge, carry-over of the surplus of assigned amount units (AAU) beyond 2012 and the forest carbon sinks. The report is written by Dr George Safonov, State University - Higher School of Economics/ Russian Environmental Defense Fund and Dr Oleg Lugovoy, Russian Environmental Defense Fund and Dr Anna Korppoo, the Finnish Institute of International Affairs. The Nordic Ministers of Environments established the Nordic COP 15 Group early in 2008. In January 2010 the group was renamed to the Nordic ad hoc Group on Global Climate Negotiations. The main tasks of the group are to prepare reports and studies, conduct relevant meetings and organize conferences supporting the Nordic negotiators in the UN climate negotiations. The overall aim of the group is to contribute to a global and comprehensive agreement on climate change with ambitious emission reduction commitments.
Readers are invited to inspect the latest Human Development Report for the Russian Federation. National reports such as this are published on the initiative of the United Nations Development Programme (UNDP) in many countries of the world. Global reports are also brought out annually. The reports are compiled by teams of independent experts. The central theme of the present Report is encapsulated in its title, ‘Russia Facing Demographic Challenges’. The authors have attempted to analyze main aspects of the most urgent demographic challenges, to offer their analysis of causes and to highlight certain constructive axes of socioeconomic policy, which can serve to reduce mortality rates, improve the present birth rate, regulate migration flows and, at the same time, to alleviate adverse consequences of demographic trends, which cannot be adjusted in the nearest future. The Report is intended for use by senior administrative personnel, political scientists, teachers, scientific researchers and students.
This book explores Russia’s efforts towards both adapting to and shaping a world in transformation. Russia has been largely marginalized in the post-Cold War era and has struggled to find its place in the world, which means that the chaotic changes in the world present Russia with both threats and opportunities. The rapid shift in the international distribution of power and emergence of a multipolar world disrupts the existing order, although it also enables Russia to diversify it partnerships and restore balance. Adapting to these changes involves restructuring its economy and evolving the foreign policy. The crises in liberalism, environmental degradation, and challenge to state sovereignty undermine political and economic stability while also widening Russia’s room for diplomatic maneuvering. This book analyzes how Russia interprets these developments and its ability to implement the appropriate responses.
This EUISS Report features contributions from a group of Russian authors with outstading expertise no important Russian domestic and foreign policy issues. They all contributed analytical papers to the Institute's "Russia Insights" series, which were published online during the weeks befor the parliamentary and presidential elections.
In the publication we describe Russian regional markets of higher education. We consider the following indicators of the markets: size in terms of students per 10 000 of population; its institutional structure – number of public and private institutions, universities and their local branches; program diversity; level and dynamics of tuition fees during recent years; and levels of market concentration in higher education. For each key indicator we present geographical maps that characterize differentiation of the regional markets. We also analyze indicators of regional markets of higher education in conjunction with clusters of Russian regions outlined by Independent Institute on Social Policy (2006) on the basis of socio-economic indicators and derive meaningful conclusions on differentiation of key indicators of higher education markets. We show that in Russia the level of regional development corresponds to the level of concentration and diversification at regional higher education markets.
The book is devoted to the tendencies of Russian economy, domestic policy, foreign policy and defence policy development in 2012. It also provides forecast for development of the country in 2013.
Le Rapport annuel sur l’état de la Russie (Yearbook) est notre principal projet éditorial. Il présente l’expertise de l’Observatoire sur un large éventail de thématiques — économie, politique intérieure/société, régions, politique étrangère/défense, relations franco-russes. Réunissant les contributions d’une cinquantaine d’auteurs renommés, il offre une photographie analytique complète et opérationnelle de la Russie d’aujourd’hui. Ouvrage de référence, le Rapport de l’Observatoire est présenté chaque année lors du Forum économique international de St-Pétersbourg (SPIEF) et à l’occasion d’un grand colloque franco-russe à Paris.