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Tag "economics"

Top 14 Most Interesting Studies in Economics in 2014, Relevant to Russia

How Russia has become an industrial economy; Class bias in Russia's judicial system; Why Russia could benefit from zero import duties with the EU; Why Russian elites prefer foreign jurisdictions; What is fake economic growth; Why the reforms of the 2000s have failed; Whether currency depreciation must inevitably lead to inflation—these were the most interesting research papers in 2014 relevant to Russia, according to Opec.ru.

Top 14 HSE’s Most Interesting Research in 2014

Why are Russians unhappy; who serves the dictators; how to reform control and supervision;Trade versus wars; Russia’s new citizens; what do Russian and Chinese banks have in common; why analysts don’t predict recession; the provincial social environment and physical isolation of rural settlements: the most interesting research by HSE in 2014. According to Opec.ru.

Working Class More Vulnerable to Poverty

Poverty in Russia is particularly difficult to overcome since it is very heterogeneous. The Russian poor include groups as diverse as villagers who do not seem to fit into the post-industrial environment, low-skilled workers, university professors, and parents of young children. Each category of the poor requires a separate approach and a different type of state support, according to HSE Professor Nataliya Tikhonova and Associate Professor at the Faculty of Economics, Vasiliy Anikin.

Companies Investing in Upgrades Less Hit by Crises

Generally, Russian businesses are fairly resistant to external shocks. Many enterprises have not only survived the 2008 crisis, but have increased their market share since then. Major companies with foreign owners and those investing in restructuring and modernisation have a better chance of success, according to Boris Kuznetsov, Professor at the Department of Economic Analysis of Organizations and Markets and co-author of the study 'The impact of industrial strategies on resilience to external shocks and on the post-crisis development trends'.

Children of Perestroika Afraid to Spend Money

Middle-aged Russians whose younger years fell in the era of change fear for their future and tend to save more money than they spend. In contrast, Russia's elderly and young adults are avid consumers: the former have survived hardship and scarcity – potential loss does not scare them, while the latter share the inherent optimism of youth, according to the paper 'Consumer Expectations of the Russian Public (1996-2009): Interconnections across Cohorts, Generations, and Ages' by Dilyara Ibragimova, Senior Researcher at the HSE's Laboratory for Studies in Economic Sociology.

Russians Keep Cash in Banks, Not at Home

The average Russian family lives on their salaries and pensions and only takes loans in exceptional cases. The vast majority of Russians are in fact millionaires, since almost every family owns their residence, while a third of all households also own other property, usually a 'dacha', i.e. a summer house. Thus, the combined value of assets owned by a typical Russian family exceeds that of many Europeans, according to the Russian Survey of Consumer Finance.

Portable Pensions Will Reduce Informal Migrant Labour

Migrant workers in the CIS are vulnerable in terms of pension rights. The recipient country does not expect to care for them in old age, while the country of origin does not count the years worked abroad towards their retirement plan. Portable pensions may offer a solution, according to researchers of the HSE's Laboratory for Comparative Social Research (St. Petersburg) involved in the study Pension Mobility within the Eurasian Economic Union and the CIS.

Sanctions Accelerate Inflation

Sanctions and the decline of the ruble have caused inflation rates in Russia to exceed the Ministry of Economic Development's official projection and to hit a three-year maximum. Furter weakening of the ruble will lead to the continued growth of annual inflation, according to the HSE's New Comments on the State and Business.

Buyers Distrusting of the Price Game

Not all consumers want to buy things at a discount. Many people prefer expensive stores to discounters since the purchase price of a good can demonstrate that the buyer belongs to a particular social group or to a particular community of buyers, Elena Berdysheva, a Senior Research Fellow in HSE’s Laboratory for Studies in Economic Sociology, said in the paper ‘What Do We Know about Consumers’ Price Perception? Research Findings of Studies in Sociology and Marketing Science’.

Budget Spending to Exceed Revenues in 2015

Russia will face a budget deficit in 2015-2017; the country’s expenditure on defense and public administration will grow, while the spending on education, health care, and social services will be cut, according to expert analysis published in the recent issue of the HSE’s New Comments on the State and Business.