The book, brought to your notice, takes an intermediate place between monographs and textbooks: on the one hand, it contains the known but stated in an unusual way facts, on the other hand, the author brought his own results corresponding to the field of research. It is already obvious from the title that while reading the book, attention and concentration are required, as it is always necessary when studying books with mathematical contents.
Mathematical models and methods in the economic theory are very various: they are econometrics, the game theory, operation research, nonlinear and chaotic dynamics and many other things. The sections placed by the author in the book do not content even a half of all possible aspects. Therefore, material will be interesting only to those who are already familiar with corresponding tasks and to students of all levels specializing in economic dynamics, in decision-making methods, in forecasting effects of management and in the analysis of interaction of economic agents.
As the most interesting and new models of economic dynamics we will emphasize multidimensional nonlinear systems of the differential equations of Lotka-Volterra type. In the book these models have been constructed and analyzed, scopes of their application and various methods of coefficients identification have been offered for them. On their base, the analysis of the competition between various economic agents, i.e. branches of economy, rival companies and sellers in the market has been made: Another unusual to similar monographs fact has become the inclusion of the theory of differential equations with the retarded argument. In the economic theory there are numerous examples of use of models with discrete time (they also have been given attention here) and with the time lags (concentrated or distributed). Such approach gives more adequate models than without lags, but in the differential equations with continuous time the introduction of delay complicates systems and with the growth of delay the qualitative behavior of trajectories is changed: there appear fluctuations; stability is changed by instability, etc.
As the author belongs to the Petersburg mathematical school and he gave this direction of science more than 35 years, the list of references contains many Russian names which can be unknown to western readers. However, the list also includes the world classical scientists who devoted their works to mathematical methods in economics.
In this monograph an attentive reader will find numerous points for the further analysis which can become a subject of publications or theses. In some cases the text is conducted in a polemic manner – the author is always open for discussions and does not consider himself as "the ultimate truth".
Risk Management approach is an essential part of the project. Large industries and particular companies incorporate RM Culture. Statistics shows, that companies with Project Management (PM) Structure reduce cost ineffectiveness up to 20%. In oil and gas industry PM Risk Analysis (PRMA) has been widely used for the last years. Various models and procedures have been developed to manage projects of different scale. Nonetheless, Offshore Projects (OP) complexity, high uncertainty of technical, financial, market and government factors, as well as different sea conditions, still makes sense to improve general PRMA models according to the oil and gas OP features. Traditional RM tools and techniques are not appropriate to cope with complex projects in the Arctic. Companies will have to modify risk assessment process or look for new methods. The paper suggests OPRMM, where the attempt to implement PM tools and techniques together with mathematical modeling and expert assessment is made and institutional factors are included. Practically, it is founded on the comparison between offshore field development in the Barents Sea and the Kara Sea. The reason for research is debates around future Arctic oil and gas projects and their commercial potential. Several large projects with participation of major international companies in the Barents Sea and the prospectivity of the Kara Sea Projects in conditions of technology difficulties are under discussion and have not reached the investment project phase yet. OPRMM starts with identifying the key factors, which could affect offshore field development. Inside the investment regime modified real option value (ROV) model for OP is developed: stop option and scale transformation option. Basing on the binominal trees and Monte Carlo Simulation it is possible to see the perspectives of the OP at an early stage in the conditions of high uncertainty. Incorporating the ROV model into investment regime allows operator to choose the territory to explore. The research shows, that offshore projects in the Arctic offshore is not only under the pressure of internal corporative factors, but also under influence of external institutional factors. New tools and approaches will be required in Arctic projects where no one wants to be looking in the wrong place.
Current processes of globalization and integration of the companies into the world economy necessitated the unification of financial reporting to the third parties and external users, its transparency and uniformity of financial calculations and calculation procedures. International Financial Reporting Standards (IFRS) today play the role of a certain standard or an example of how international companies have to generate financial reports. This imposes certain obligations on the reporting procedure. Thus, on the one hand companies operate under strict rules of how and that they can be reported. On the other hand, oil and gas companies implement large risky projects, which feasibility evaluation is often difficult in the conditions of high risk and lack of the information. This situation is typical for offshore fields, particularly in the Arctic offshore, where the degree of exploration is extremely low. The present article is concerned with the real options valuation of offshore fields in the Arctic. The main point of the article is an example of the subsequent correlation of the price value of the real options and possible costs for exploration and evaluation of the field resource potential in accordance with the principles of IFRS 6 – «Exploration for and Evaluation of Mineral Resources», an accounting standard that is core to the understanding of accounting in the mining and oil and gas industries. IFRS 6 includes modified impairment testing of exploration and evaluation assets and replaced several others international standards as IFRS 8, IFRS 16 and IFRS 36. This approach allows us to demonstrate the applicabilityof ROV (Real Options Valuation) method and its application to offshore projects with a high degree of uncertainty, carried out at an early stage and, in particular, for the Arctic offshore projects. For illustrative purposes two possible deposits were taken on the shelf of the Barents Sea and the Kara Sea. For these two illustrative examples of the fields in the above sea waters in accordance with the climatic conditions, taking into account the current tax and investment regimes three types of option were designed: to stop the project, to delay the project and to expand the project. The main purpose of this work is to show the applicability of various models of real options for offshore development projects through the examples in the Arctic seas at the stage of prospecting and exploration. There is also the objective to show how the techniques of project management can be agreed under the rules of reporting standards reporting for companies operating according to IFRS 6 standard.
This work deals with key aspects of the Stalin’s policy in relation to the village in the Ural in the 1930s. Based on a large documentary material, the author examines in detail both social and property status of the ‘dekulakized peasants’ of the Ural, which, by 1932, had become the largest area of labor settlements. Special attention is paid to the methodological issues of the study, in particular, to the justification of the representativeness concerning the selection of households prepared, its further evolution in the course of the work, as well as laying special emphasis on the multidimensional typology of the social portrait of the ‘dekulakized’ peasants.
Three e-prosopographical databases were created – ‘Dekulakized’ peasants of the Southern Ural (1930-1934)’ based on 34 parameters for 1461 ‘dekulakized’ families; ‘Labor settlers in the Southern Ural (1930-1934)’ based on 20 parameters for 1200 families of the labor settlers; and ‘Dekulakized’ peasants of the Orenburg region (1930-1934)’ based on 34 parameters for 210 families of the ‘dekulakized’ peasants. Databases in question have become a tool for analysis of the generalized characteristics of the ‘dekulakized’ households and the subsequent reconstruction of the social portrait of the ‘dekulakized’ peasants of the Southern Ural and the Orenburg region.
Causes and reasons for ‘dekulakization’ were analyzed. Thus, according to the documents, the policy of the country administration had been reciprocated neither by peasants, who could not understand why they were taken the last piece of bread at hungry times and denied the opportunity to raise the economy of the households, nor by the local leaders, who had periodically ‘perverted’ the party line, which turned out to be not so direct as it was seen from the Center.
As in the whole throughout the country, in the Southern Ural, the ‘dekulakization’ campaign, reinforced by the famine of 1932-1933, has affected not only the rich peasant families (they obviously would not be enough to perform ‘the control figures’), but wealthy medium peasant households, as well, that, on the one hand, has neutralized property differentiation of the peasantry, preparing the appropriate soil for the functioning of the collective farms, and on the other hand, has significantly slowed down the rate of growth of the agricultural production, destroying entrepreneurial initiative, which became stronger during the NEP, and significantly shaking the trust of the peasants to the country administration.
For eight decades of the study of various aspects of the history of the Soviet ‘dekulakization’, an extensive and diverse literature was developed, hundreds of studies were written, among which the works of the following authors are of particular note: V. P. Danilov, N. A. Ivnitskiy, Y.A. Moshkov, N.L. Rogalina, T.I. Slavko, N.Y. Gushchin, V.V. Kondrashin, etc. So much academic interest in the topic can be explained very simply: by 1926, 73% of the USSR population was presented by peasants, and the policy, pursued by the government, could not have been affected such huge population in the most devastating way, especially given the traditionally strong relationship between peasant families.
Historiography of the ‘dekulakization’ issue at the present stage is concentrated towards the revision of the estimates based on multiple vectors, including both identification of social groups and layers, on which repressions were directed, and personification of ‘dekulakization’ in the fate of certain families.
In the present work, we focused on social and economic aspects of collectivization and ‘dekulakization’ of the peasantry of the Ural, as well as reconstruction of the social portrait of the ‘dekulakized’ peasants of the Southern Ural and the Orenburg region.
The book is designed both for specialists in economic and social history of the USSR, and a wide readership interested in the Stalin’s collectivization and ‘dekulakization’ in the 1930s.
The aging of the Russian population and the rapid shrinking of its labor force in coming decades will make the human capital each worker contributes increasingly vital for sustaining economic output and growth. While improvements in general education are necessary to build the foundation for a productive future labor force, a broad-based and effective system of adult education can provide second-chance opportunities for current workers to enhance their productivity and lengthen their working lives and for low-skilled immigrants to be integrated into the workforce. How well the Russian Federation addresses these multiple needs at and beyond the workplace will depend on how effective its adult education system is. This study targeting policymakers outlines the problems of Russia's growing skills gap, especially the shortage of higher-order cognitive and socio-emotional skills, and examines the current state of adult education.
The industrial development of emerging markets has been a powerful driver for mergers and acquisitions. The contributions collected in this book assess major M&A deals in the largest emerging capital markets (Brazil, Russia, India, China) and their role in shareholder value creation in the markets’ specific business environments. In addition, the book explores various dimensions of M&A deals in order to summarize the main trends in corporate control markets in the largest emerging countries, and how they differ from those in developed countries; to identify deal-performance relationships and the determinants of success or failure; to reveal the drivers for the premium in M&A deals; and to capture market responses to different M&A strategies. By doing so, the book makes a significant contribution to the literature, which has to date largely focused on developed markets.
This book provides a unique and timely analysis of the role of structural change in the economic development of Brazil, Russia, India, China, and South Africa (BRICS) with a consideration for the role of industry, and in particular manufacturing. The emergence of BRICS reflects an ongoing change in the international economic order. BRICS now account for very substantial part of global GDP, global manufactured value added and global manufactured exports. The book examines their economic experiences and structural change in BRICS over the past three decades, identifying both differences and commonalities, and deriving lessons for other industrializing countries. Section I contains comparative studies focusing on the commonalities and differences of the experiences of BRICS. Section II includes six country studies providing a more detailed analysis of the long-run experiences of each of the countries. Section III consists of a set of seven thematic studies focusing on specific topics such as global value chains, the role of transnational corporations in the food chain, the role of foreign versus domestic investment, the role of domestic versus foreign demand in economic growth the diffusion of environmental energy technology and the similarities, and the differences in industrial policies pursued in the five countries. The book contains a summary chapter that provides an integrated perspective of the various contributions from the point of view of poverty reduction and development. It asks, whether the patterns of structural change and industrial development that BRICS experienced, had an impact on poverty outcomes, and if so, what where the channels and the consequences?
The study includes a variety of topics, from a review of the political, legal and institutional frameworks for the development of a “green economy” in Russia, to concrete practices of separate waste collection, the development of renewable energy sources and aspects of environmental education. We tried to look at the process of sustainable development in Russia from diff erent perspectives, including the political and economic background, the legal situation, existing practices of sustainable development and how environmental information circulated, including journalism and education on sustainable development. The result is a broad study, which includes a collection of articles written by both theorists and practitioners of sustainable development in Russia.
The research on technical regulations and standards highlights that the EAEU is already implementing many EU standards as the basis for reforming and modernizing its former GOST regulations and standards. In addition the EAEU is adopting many standards of the international standards organizations (ISO, IEC, ITU), which work very closely in partnership with the European standards organizations (CEN, CENELEC, ETSI), such that international and European standards are to a large degree identical. This means that the legal and technical infrastructure for non-tariff barriers of the two parties is already converging. This makes non-tariff barriers a potentially fertile field for cooperation between the EU and EAEU, which in turn could mean easier access to markets and increased mutual trade. In this case, the potential format and extent of cooperation could extend to include a Mutual Recognition Agreement (MRA) on Conformity Assessment, through to the most ambitious formula (in EU practice) of the Agreement on Conformity Assessment and Acceptance of Industrial Products (ACAA). Such arrangements would in principle ideally form part of a free trade agreement. Such scenarios can be technically specified, but of course they would have to rely on demanding political conditions which today are not satisfied.
Is it possible for Russian energy companies to develop an effective business strategy based on the restrictions and rules of strategic documents of national scale? Today Russian Energy Strategy sets the benchmarks for business. The set of methods allows for the analysis of open sources and materials for the development of national and corporate strategies. Scenario conditions of development are one of the areas of analysis. The CGE model is used by the World Bank, IMF, OECD and the European Commission for studying economic scenarios, but it has not found applicaton in the Russian energy strategy. Other management technologies in demand by Russian companies are not used in the energy strategy either (e.g.balanced scorecard).
World experience confirms the possibility of adjusting corporate strategies for the benefit of society. Danish Energy Strategy prescribes a smooth transition to alternative energy sources and active implementation of smart energy resources. Experience of Norway in this area is also important. The third energy package of the EU defines the rules of the game in the European market influencing the business models, strategies and long-term deliveries of external counterparties.
Taking into account not only the world trends: slower growth in demand, diversifying energy structure, increasing competitiveness of renewable energy sources, increasing supply from developing countries, tightening climate norms, but also other factors (e.g. Russia being under sanctions, etc.) will allow the company to act as a partner of the state in some issues, and at the same time as an independent entity: its strategy is determined by the board of directors. Modern management technologies allow us to specify and quantify the characteristics of the national energy strategy, and to reflect the priorities in the development strategies of companies. The conditions of the state policy and the parameters of the companies' strategies will have more points of contact and reduce the risk of deviation from the declared goals. The adjustment of the restrictions and rules of the national energy strategy will reduce the risks of imbalance in the actions of society and business. Revision of the program document is possible due to organizational design and methodological support.
Modern capitalism favors values that undermine our face-to-face bonds with friends and family members. Focusing on the post-communist world, and comparing it to more 'developed' societies, this book reveals the mixed effects of capitalist culture on interpersonal relationships. While most observers blame the egoism and asocial behavior found in new free-market societies on their communist pasts, this work shows how relationships are also threatened by the profit orientations and personal ambition unleashed by economic development. Successful people in societies as diverse as China, Russia, and Eastern Germany adjust to the market economy at a social cost, relaxing their morals in order to obtain success and succumbing to increased material temptations to exploit relationships for their own financial and professional gain. The capitalist personality is internally troubled as a result of this "sellout," but these qualms subside as it devalues intimate qualitative bonds with others. This book also shows that post-communists are similarly individualized as people living in Western societies. Capitalism may indeed favor values of independence, creativity, and self-expressiveness, but it also rewards self-centeredness, consumerism, and the stripping down of morality. As is the case in the West, capitalist culture fosters an internally conflicted and self-centered personality in post-communist societies.
The development of globalization has not been one of steadily rising interconnectedness. The foundations for the latest and greatest round of globalization are fragile. The fragmentation of the world economy into more regionalized trading blocs will affect the United States and Russia differently. The United States is dependent on an increasingly skeptical world to finance its large current account deficits; far-flung production chains for goods made or designed in the United States might be disrupted in ways that will increase both costs and prices; and, ultimately, this withdrawal will accelerate the nation’s long-term secular decline as a share of world output. Russia’s economic growth remains highly dependent on commodity exports, which may make it less susceptible to the costs of reduced globalization but which will limit economic development for decades to come. The prospects for U.S.-Russia economic cooperation in a deglobalizing world are limited while American and European sanctions are still in place.
This ambitious report prepared under the aegis of Economic Policy Forum focuses on the future of global energy systems, supply-side economics and the pressures for energy diversification, energy efficiency and energy access at the country and sub-national level. The expansive scope of the study is based on the assumption that the reader is familiar with contemporary conversations on energy; it seeks to inform the reader of analyses and perspectives from Economic Policy Forum member countries by synthesising the deliberations in the meetings thus far and building upon the substantive research work conducted through the platform. The focus of research in the Economic Policy Forum follows from the relevance of emerging countries such as BRICS in energy policy debates. One of the paradoxes in such debates, as is pointed out in the report, is the fact that the countries which face the largest energy challenges, or the most important energy policy-related questions, are also countries where policymaking variables are in constant flux. Conversely, in the case of developed countries, a number of fundamental assumptions are well known, which include expectations about consumer demand and industrial consumption extrapolated on the basis of demographic as well as socio-economic trends.
The Global Academic Rankings Game provides a much-needed perspective on how countries and universities react to academic rankings. Based on a unified case methodology of eleven key countries and academic institutions, this comprehensive volume provides expert analysis on this emerging phenomenon at a time when world rankings are becoming increasingly visible and influential on the international stage. Each chapter provides an overview of government and national policies as well as an in-depth examination of the impact that rankings have played on policy, practice, and academic life in Australia, Chile, China, Germany, Malaysia, the Netherlands, Poland, Russia, Turkey, the United Kingdom, and the United Sates. The Global Academic Rankings Game contributes to the continuing debate about the influence of rankings in higher education and is an invaluable resource for higher education scholars and administrators as they tackle rankings in their own national and institutional contexts.
The Global Future of Higher Education and the Academic Profession focuses on the all-important emerging BRIC (Brazil, Russia, India, and China) nations by analyzing the academic profession and particularly salaries and contracts. The professoriate is key to the success of any academic system, and this is the first book to carefully analyze academic systems and the academic profession.
The academic profession must be adequately paid, and appointments to academic jobs must be based on merit and provide an effective career path for the 'best and brightest' to be attracted to the profession. The BRICs show a variety of approaches to academic careers—and none provide globally competitive salaries. China and Russia, in particular, pay academics poorly. Using purchasing power parity, this book is able to accurately compare the actual purchasing power of the academic profession. The book also analyzes how professors are appointed and promoted.
While the BRICs may be emerging global economic powers, their academic systems still face significant challenges.
A complex analysis of the social and economic consequences of China, Ukraine, and Russia’s accession to the WTO was used to identify recommendations for the most successful adaptation of Russia to WTO standards. Russia tries to adapt to the WTO standards. The study focuses on the Chinese experience. China’s membership in the WTO is extremely useful for Russia from due to China’s positive influence on the development of its economy , as there has been expansion in the industrial and production sectors of its economy and promotion of goods in world markets, as well as an opportunity to use the WTO’s legal instruments for national domestic market protection.
China’s positive experience as a WTO member somehow contrasts with the described experience of Ukraine. An assessment of Ukraine’s versatile policy and its association with the EU allowed concluded that it is impossible for Ukraine to follow two ways at once: that of Eurasian integration and that of European integration.
Recently, the aggravated trade, economic and political confrontations between Russia and its American and European partners spurred radical changes in Russia’s economic strategy. Areas of such transformations can be determined by understanding both the positive and negative experiences of Russia’s old trade partners, namely China and Ukraine as they joined the world economic environment.
In the last decade Russia has searched for new alternative policies to compensate for its political deficiencies and to balance its rivals in one of the key areas of the approaching geopolitical rivalry, the sea. The Russian assertiveness seen in the Black Sea-Mediterranean basin has recently been a real concern for the international community. In the six chapters of this book, contributors explain Moscow’s newly perceived assertive foreign and security behavior in the Black Sea and Mediterranean basin from their own perspectives, and reach a conclusion about the limits and validity of this new Russian ascendance in the region.