Modelling monetary policy in real time: does discreteness matter?
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?
In the article we represents some results of statistical analysis of the integration activities of the economic sectors Russian Federation in 2008-2012, and also viewed some features of industry segmentation of deals. On the basis of this analysis it is possible to form a qualitative market infrastructure of the corporate control and to work out effective measures belonging to the government policy in the sphere of the sectoral administration of integration activities.
The chapter is devoted to the analysis of industrial development in Russia since 2005. Characteristic features of the Russian industry are considered. It is shown that Russian industry is specific both by its structure and high heterogeneity. The mining and quarrying sector and related manufacturing industries play a significant role in the Russian economy and major role in industrial production. In the foreseeable future, these sectors can strengthen their leading positions.
Considerable attention is paid to the analysis of industrial policy of the Russian government, which has traditionally been one of the leading actors of industrial development. The main directions of industrial policy are singled out: compensation of negative changes, catching-up, and advance development. It is noted that the role of government is ambivalent: on the one hand, it seeks to develop high-performing companies, including new and fast-growing ones, on the other hand, it often supports large, low-performing enterprises. With the declared continuously emphasis of industrial policy on innovation and modernization, low innovativeness of Russian companies remains. Based on the analysis of modern conditions, as well as new objects and instruments of industrial policy, some prospects for future industrial development have been revealed.
The paper describes the evolution in 1990-s and 2000-s of approaches of Russian state towards industrial policy, which is understood as a policy facilitating structural changes in the economy. The mentioned evolution took place simultaneously with the development of theoretical paradigms of industrial policy in the economic literature both in Russia and in the World, and with extensive use of different instruments of industrial policy as well. Authors aim to analyze and summarize the Russian experiences in applying different instruments of industrial policy and to discuss the reasons for success and failures of those experiments. The paper formulates some lessons to be drawn from the extensive Russian experience that may improve the efficiency of such a policy, and puts some question for the discussion on the industrial policy issue.
The monograph is focused on the issues relevant to the origination and development of the Russian defence industry complex. The adopted historical approach facilitates a profound analysis of its current state and prospects of defence industry modernization. The identified dynamics and trends of the structural changes in the defence industry complex manifest their synchronism with the changes occurring in the public management structure.
The study is intended for executive and engineering staff of the defence industry complex.
The goal of this study is to examine the performance of the Russian economy during the 2000’s. The authors study sources of economic growth during the period applying growth accounting framework and discussing standard assumptions and statistical problems. The relatively intensive growth of the Russian economy was accompanied by a very slow decline of inflation rates. The Chapter discusses the specific features of the recent consumer price rise and considers several manifestations of inflation persistence during the last decade.
Increasing volatility on financial markets, uncertainty about Greece's debt restructuring and economic slowdown, and currency depreciation in the CIS region have put growth prospects in Poland and Latvia at risk. However, Poland has more flexibility to respond to these challenges, as it has an independent monetary policy and weaker links with the CIS.