Финансовый сектор, экономический рост и макроэкономическая стабильность
The article analyzes the specifics of urbanization dynamics in Egypt, which is noteworthy for a number of reasons. First, there was a shift from the logistic trend in the 1970s, and the share of urban population stopped growing. The UN data analysis shows that such a shift usually occurs against the background of very serious economic difficulties (and other problems associated with them). However, the urban population proportion stopped growing in Egypt when the country was experiencing a period of exceedingly rapid economic growth. We find labor migration of unprecedented scale to be the main reason which engendered this seemingly paradoxical situation. We further proceed to analyze the UN forecast on the dynamics of the Egyptian urban population proportion up to 2050, which implies a return to the logistic trend and rapid growth of the urban population share, which is fraught with socio-political instability risks. However, we present data proving that the logistic urbanization trajectory is not inevitable for Egypt, and the destabilization risks connected with the rapid increase of urban population share are largely irrelevant to Egypt in the forecasted period.
The collection consists of a number of refereed essays, representing the mainstream of the Chinese economic thought and the Western sinology nowadays. It covers various fields of China’s socio-economic transformation. Specific features of macroeconomic dynamics in China are studied in depth. Special attention is dedicated to the intermediate results of structural reforms. China’s external economic expansion is also covered in its various dimensions. The materials refereed may be of an interest for those dealing with the issues of economies in transition and thinking how to apply the successful elements of China’s experiencе in the Russian circumstances.
The modern concept of modernizing Russia somehow reproduce the history of the theory of innovation. The theory of innovation in its development has gone through a least 3 stages. In the first phase (1910 - first half of the 40s) to the forefront issues of understanding the nature of innovation and their role in the development of society over time (long, medium and short periods), the relationship of innovation and long cycles conditions. This period is associated with the names of J.A.Schumpeter, M.I.Tugan-Baranovsky and N.D. Kondratieff. The second stage in the development of innovation theory (second half 1940 - first half of the 1970s) is characterized by the increased role of macroeconomic analysis, in turn, he has at least two substages: the first of which was dominated by the ideas of neo-Keynesians, on the second-neoclassical. The third stage of development of the theory of innovation began in the mid-1970s and proldolzhaetsya to the present. It is characterized by an offensive alternative approach to macroeconomic theory. With a certain degree of conditionality is also possible to distinguish two substages. The first (second half of the 1970s - early 1990s) is characterized by the emergence of new ideas drawn from evolutionary theory, institutionalism (the theory of the firm) and management (innovation management). In the second substage (mid 90s) innovations studied by the methods of systems analysis. The authors are increasingly focused on issues of comparative studies: a comparative analysis of innovation policy in different countries, study the ways and means of forming an effective innovation systems. In the report it is critically considered not only the official point of view, but also M. Porter, K. Ketels work “Competitiveness at the Crossroads: Choosing the Future Direction of the Russian Economy”. Also «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” are analyzed. In this paper institutional preconditions and possibilities of application of the concept of social market economy in the 21st century Russia were analyzed. Basic elements of social market economy are personal liberty, social justice, and economic efficiency.
Institutions affect investment decisions, including investments in human capital. Hence institutions are relevant for the allocation of talent. Good market-supporting institutions attract talent to productive value-creating activities, whereas poor ones raise the appeal of rent-seeking. We propose a theoretical model that predicts that more talented individuals are particularly sensitive in their career choices to the quality of institutions, and test these predictions on a sample of around 95 countries of the world. We find a strong positive association between the quality of institutions and graduation of college and university students in science, and an even stronger negative correlation with graduation in law. Our findings are robust to various specifications of empirical models, including smaller samples of former colonies and transition countries. The quality of human capital makes the distinction between educational choices under strong and weak institutions particularly sharp. We show that the allocation of talent is an important link between institutions and growth.
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.