Russia’s pension system in the context of world experience and expected trends
Russia’s level of pension provision lags most OECD countries, as well as faces challenges from rising pension fund deficits and an aging population. On the current course, in the long run Russia can expect decreased budget revenues that would require to adjust government spending. While many countries moved after the 2008 global financial crisis to overhaul their pension systems, Russia postponed action until recently. This paper presents estimates of retirement pension expenditures through 2035 under various assumptions about economic growth, demographic composition, and possible reforms to the pension system. Two recent measures by the government (abolition of indexing adjustments for working retirees and an increase in the retirement age for public servants) will slightly mitigate the long-term negative trends. For any of our assumptions, Russia’s decision to begin raising the retirement age by six months a year starting in 2019 will put the retirement pension expenditures relative to GDP on the downward trajectory. This reform allows an accelerating increase in pensions to improve retiree welfare and makes up for some of expected decline in overall budget revenues, making it easier to stabilize the level of public spending relative to GDP. Acceleration of economic growth backed by structural reforms limits further the growth in pension expenditures.
Copula-Application To Modelling Russian Banking System Capital Adequacy According to Basel II IRB-Approach
Model Assisted Statistics and Applications 2012 Vol. 7 No. 4 P. 267-280
According to the strategy of the banking system development until 2015, the Central Bank of Russia is going to implement Basel II Internal-Ratings-Based (IRB) approaches in 2015, while Basel III is planned to be introduced in full starting from 2019. Taking into account the effects of the Basel II regulation during the crisis 2008-2009, in ...
Added: November 6, 2012
Государство и право 2011 № 6 С. 87-91
This article reviews debatable questions of the anti-corruption examination, contains the analysis of regulations, providing by Federal Law "On Anti-Corruption Examination of Regulatory Acts and their Drafts", formulates a number of suggestions concerning actualization of anti-corruption examination institute. ...
Added: September 23, 2012
Ownership Dynamics and Firm Performance in an Emerging Economy: A Meta-Analysis of the Russian Literature
Ownership Dynamics and Firm Performance in an Emerging Economy: A Meta-Analysis of the Russian Literature / . 2017. No. 65.
This paper provides a meta-analysis of studies on the effect of ownership on the performance of Russian firms over 20 years of rapid institutional and economic changes. We review 29 studies extracted from the EconLit and Web of Science databases with a total of 877 relevant estimates. We find that the government negatively affects company ...
Added: January 12, 2017
Russian Management Journal 2020 Vol. 18 No. 2 P. 217-234
Wage adjustments for employees are a reactive mechanism to changing market conditions and form a significant part of pay policy. Though various attempts to explore wage levels and wage differentials have been made, wage adjustment policies remain an understudied topic. This paper analyses the determinants of wage adjustments based on data from Russian companies 2015–2017. ...
Added: July 28, 2020
Russian Journal of Economics 2016 Vol. 2 No. 3 P. 302-326
Since the collapse of the Soviet Union, its successor states have suffered from cyclical currency crises. The most recent episode of 2014–2016 was caused by a combination of external and domestic factors. The former include tighter US monetary policy, slower global growth, and declining commodity prices, whereas the latter include the former Soviet Union (FSU) ...
Added: October 27, 2016
Вестник международных организаций: образование, наука, новая экономика 2018 Т. 13 № 3 С. 97-112
The paper focuses on the development trends of the transport infrastructure of Eurasia in the context of the economic and political integration of the countries at this continent. Leading states of the Asia-Pacific region (APR) made proposals on large-scale infrastructure projects in the Eurasian space after financial crisis 2008–2009. Russia is extremely interested in integrating ...
Added: November 22, 2018
The Interaction of Grassroots Communities and Local Authorities in Russia / Высшая школа экономики. Series EC "Economics". 2015. No. 97.
Taking into consideration the underdevelopment of the Russian civil community it is of essential interest to touch upon local communities (known as TOS). Local governments and TOS communities could provide similar services and as such cooperate or compete with each other. Community initiatives could supplant poorly performing government services, or governments could outsource to communities ...
Added: July 28, 2015
International Social Work 2014 Vol. 57 No. 5 P. 459-469
Based on the 2008 data from ESS, the article analyses the attitudes of Russians towards state social policy, and compares their opinions with those of populations in selected European countries. The research identifies the factors affecting social attitudes toward welfare policies. Results suggest that Russians believe that the majority of social support functions must be ...
Added: October 14, 2014
Monetary regime choice and optimal rationing of credit at official rate: the case of Russia / Высшая школа экономики. Series WP BRP "Economics/EC". 2015. No. WP BRP 103/EC/2015.
Stabilizing monetary policy in small open economy is constrained by the open economy trilemma. In a crisis this constraint may not allow Central Bank to cut interest rate because it may cause huge capital flight and subsequent problems. In this paper we investigate whether performed by Central Bank rationing of credit at official rate may ...
Added: October 22, 2015
Understanding the survival of post-Communist corruption in contemporary Russia: The influence of historical legacies
Post-Soviet Affairs 2015 Vol. 31 No. 4 P. 304-338
Corruption is widespread throughout the former Communist states, and it is particularly severe and entrenched in Russia. Despite the fact that Russia's contemporary corruption has recently become a subject of analysis, there is, however, no study that has addressed the role of the Communist legacy in the development of various aspects of corruption. This paper ...
Added: September 3, 2015
Exports-performance relationship in Russian manufacturing companies: Does foreign ownership play an enhancing role?
Baltic Journal of Management 2018 Vol. 13 No. 1 P. 20-40
Purpose - The purpose of this paper is to examine the relationship between export activity and firm performance for a positive impact of foreign direct investments. We also analyse two possible causes of the effect: technology transfer and financial support. The theoretical background is rooted in the resource-based approach taking into account multinational companies’ perspective ...
Added: October 15, 2016
Lanham: Lexington Books, 2015
This book pulls together experts in the fields of economics and Russian culture, all participants in the Samuel P. Huntington Memorial Symposium on Culture, Cultural Change and Economic Development, a follow-up to the 1999 Cultural Values and Human Progress Symposium at Harvard University. As the sequel to the 2001 volume Culture Matters, it discusses modernization, ...
Added: April 30, 2015
Foresight 2017 Vol. 19 No. 5 P. 528-540
Purpose – The purpose of the study is to show the technical potentials of a variety of renewable energy sources in Russia, as well as benefits from their deployment including hydrocarbon savings, emission reduction and lower energy cost. Design/methodology/approach – In the paper, Russia is compared with other countries in terms of actual installed capacity ...
Added: September 25, 2017
International Journal of Culture,Tourism and Hospitality Research 2013 Vol. 7 No. 1 P. 3-10
Purpose – The purpose of this paper is to introduce findings of comparative analysis and various models based on cultural heritage resources to foster regional development. Design/methodology/approach – Comparison of operational schemes, market positions and branding of three successful cultural heritage centers in Germany, Great Britain and Russia demonstrates a variety of regional development models based ...
Added: October 22, 2013
Problems of Economic Transition 2010 Vol. 53 No. 3 P. 69-95
The article considers different approaches, all based on detailed statistical data, to determine which industries and commodities have high, medium, or low sensitivity to exchange rate fluctuations. The authors conclude that any exchange rate policy is an inappropriate tool to influence the structure of Russian economy. ...
Added: April 12, 2013
Foresight 2017 Vol. 19 No. 3 P. 291-305
Purpose – This paper aims to describe and discuss the architecture of Russia’s Technology Foresight System (TFS). This paper introduces the reader to the integration of the TFS into the public administration system and, specifically, into the national strategic planning system. Design/methodology/approach – To do so, the authors fall back on more than 10 years of ...
Added: June 22, 2017
Strategic Analysis 2016 Vol. 40 No. 6 P. 536-546
While environmental issues attract growing interest all over the world Russia has kept aside from this trend for a long time. Its participation in international environmental cooperation has always been determined primarily by the external policy’s objectives. In Soviet times, participation in global environmental initiatives was a channel of collaboration with the West. In the ...
Added: October 13, 2016
The development approaches to tourist value propositions of small cities: the case of the Vladimir Region
Worldwide Hospitality and Tourism Themes 2018 Vol. 10 No. 4 P. 498-509
Purpose – This paper aims to analyze the modern approaches to the development of tourist value proposition and to discuss relevant cases of small cities in Russia. Design/methodology/approach – The paper uses a case study approach based on the experience in Vladimir Region with respect to government and its support for tourism development. Findings – ...
Added: October 14, 2019
Foresight 2017 Vol. 19 No. 5 P. 511-527
Purpose This study aims to assess future prospects for Russian energy exports until 2040, as global energy markets are undergoing major changes, with possible impacts on Russia. Design/methodology/approach Qualitative and quantitative approaches are integrated under a proposed foresight framework. The qualitative method involves an expert survey aimed at identifying major energy trends and their influence on ...
Added: October 3, 2017
Post-Soviet Affairs 2018 Vol. 34 No. 6 P. 412-429
This study seeks to discuss the survivability of charitable NGOs in Russia without foreign funding. We use cross-section data from a quantitative household survey conducted in April 2016 to investigate common giving patterns of Russians. Using statistic and regression analysis, we explore causes of donations and individual and social attributes of charitable giving in general ...
Added: October 5, 2018
Governance of Commons in a Large Nondemocratic Country: The Case of Forestry in the Russian Federation
Publius 2014 Vol. 44 No. 2 P. 298-323
A substantial portion of Elinor Ostrom’s work critically examines the interplay between decentralization and efficient governance of commons. Ostrom’s suggestion is to shift from the dichotomous view of decentralization versus centralization to a more complex picture, labeled “polycentric governance.” This article applies this theory and uses a novel data set to test how the allocation ...
Added: October 19, 2015
Концепция «продовольственных режимов» как модель объяснения стратегий аграрного развития (на примере России и Бразилии)
Вестник Российского университета дружбы народов. Серия: Социология 2019 Т. 19 № 2 С. 261-276
The ‘food regime’ approach was introduced as a historical method of “incorporated comparison” (P. McMichael). This comparison of the role of agriculture in the world-system made some scholars overemphasize an excessively unitary and coherent global food regime. The authors recognize this approach as a historical-comparative analytical tool to understand global trends, but argue that the Russian and Brazilian agrarian ...
Added: June 24, 2019
Bank ownership and profit efficiency of Russian banks / Bank of Finland Institute for Economies in Transition. Series DP "BOFIT Discussion Papers". 2018. No. 5.
The paper examines how type of ownership affects the profit efficiency of Russian banks. Using bank-quarter data for selected banks in the period 2004–2015, we combine stochastic frontier analysis (SFA) methodology with an intermediary approach to assess profit efficiency. Our key findings show that foreign-owned banks are the most efficient, followed by state-owned banks and ...
Added: February 22, 2018
Political Studies Review 2015 Vol. 13 No. 1 P. 59-68
In 2013, Russia's economy entered a phase of stagnation, with a rate of gross domestic product (GDP) growth much lower than that of other emerging economies. This article argues that economic stagnation is linked to the dysfunctional system of informal institutions that permeates every level of political decision making in the country. By discussing four ...
Added: November 10, 2014