Minorities, Human Capital and Long-Run Development: Persistence of Armenian and Greek Influence in Turkey
This paper puts forth a comprehensive set of measures to address the current economic crisis, prevent its further aggravation and ensure sustained and ongoing development of the Russian economy. In this study we seek to adopt the viewpoint of common sense and keep free from political and ideological bias. This is why we believe the proposed solutions should be implemented by any reasonable government irrespective of its political coloration. This text presents our vision of the Russian economy and its problems.
The annual report prepared by a large group of Russian and French researchers. The report focuses on the trends of development of Russia in the sphere of economy, domestic and foreign policy, social and regional policy.
Despite the impressive economic growth in Russia between 1999 and 2007, there is a fear that Russia may suffer the Dutch disease, which predicts that a country with large natural resource rents may experience a de-industrialisation and a lower long term economic growth. In this paper we study if there are any symptoms of the Dutch disease in Russia. Using a variety of Rosstat publications and the CHELEM database, we analyse the trends in production, wages and employment in the Russian manufacturing industries, and we study the behaviour of Russian imports and exports. We find that, while Russia exhibits some symptoms of the Dutch disease, e.g. the real appreciation of the rouble, the rise in real wages, the decrease in employment in manufacturing industries and the development of the services sector, the manufacturing production nonetheless increased, contradicting the theory of the Dutch disease. These trends can be explained by the gains in productivity and the recovery after the disorganisation in the 1990s, by new market opportunities for Russian products in the European Union and in CIS countries, by a growing Chinese demand for some products and by a booming internal market. Finally, investments in many manufacturing industries were largely encouraged, whereas those in the energy sector were strongly regulated, which contributed to the economic diversification.
People are the focus of the third edition of the OECD Yearbook, which looks at some of the key challenges that have resulted from over five years of global economic turmoil. OECD experts are joined by leaders from government, business, labour, academia and civil society to examine pressing questions.
The article examines special politically-legal and social status of Muslim community in the USA. Not only positive experience of ethnopolitical integration is described, but also a number of problems connected to this situation.
The paper studies a problem of optimal insurer’s choice of a risk-sharing policy in a dynamic risk model, so-called Cramer-Lundberg process, over infinite time interval. Additional constraints are imposed on residual risks of insureds: on mean value or with probability one. An optimal control problem of minimizing a functional of the form of variation coefficient is solved. We show that: in the first case the optimum is achieved at stop loss insurance policies, in the second case the optimal insurance is a combination of stop loss and deductible policies. It is proved that the obtained results can be easily applied to problems with other optimization criteria: maximization of long-run utility and minimization of probability of a deviation from mean trajectory.