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Atlas of economic complexity, Russian regional pages

Lyubimov Ivan L., Lysyuk Maria V., Gvozdeva Margarita A.

Well-established results indicate that export diversification might be a better growth strategy for an emerging economy as long as its GDP per capita level is smaller than an empirically defined threshold. As average incomes in Russian regions are likely to be far below the threshold, it might be important to estimate their diversification potential. The paper discusses the Atlas of economic complexity for Russian regions created to visualize regional export baskets, to estimate their complexity and evaluate regional export potential. The paper’s results are consistent with previous findings: the complexity of export is substantially higher and diversification potential is larger in western and central regions of Russia. Their export potential might become larger if western and central regions, first, try to join global value added chains and second, cooperate and develop joint diversification strategies. Northern and eastern regions are by contrast much less complex and their diversification potential is small.

Business participation in social development of the territory: Limitations and potential opportunities

Medvedeva Natalia V.

Based on the results of sociological research, key barriers that prevent active integration of the business sector into social and economic development of the territories are identified, and the problems of interaction between government and business at the municipal level in present Russian conditions are determined. It is concluded that only on the basis of building common values between the authorities and the business community, changing their behavioral attitudes it is possible to increase the level of social responsibility of business and actively implement social investment.

Demographic brakes of the economy

Vishnevsky Anatoly G., Scherbakova Ekaterina M.

The article examines the features of the newest stage of the demographic evolution of Russia against the backdrop of other countries at similar stages of the demographic transition. It is shown that until recently long-term demographic trends favored Russia’s economic development, but now the country is entering a long period of unfavorable demographic changes for its economy. The cessation of growth of the Russian population, the reduction in the working-age population and its aging, and the increase in the dependency ratio will have a deterrent effect on economic development and at the same time make it more difficult to solve social problems. In particular, these factors will create greater problems for the pension system for people older than working age. The issue of using the migration resource to mitigate the negative consequences of demographic changes is discussed.

Entrepreneurship and institutions: Does the relationship exist at the regional level in Russia?

Barinova Vera A., Zemtsov Stepan P., Tsareva Yulia V.

Despite many governmental support programs, the entrepreneurship development in Russia is still very uneven. In this article we analyze numerous studies on entrepreneurship and find out that the institutional background in general and in certain regions is very important for the development of entrepreneurship. The risks of doing business, the complexity and duration of administrative procedures, access to capital, regulation and informal community norms are of extreme importance. The aim of this paper is to identify regional institutional factors for the development of small enterprises in Russia. With the help of the proposed econometric model we show that high investment risks and large number of economic crimes are significant deterrents for the entrepreneurial activity in Russia. The banking services’ availability and the proximity of large markets, combined with the human capital concentration, contribute to the entrepreneurship development. The impact of state support turned out to be not significant. We formulate some policy advice for entrepreneurship support in Russia.

Factors of economic growth: Empirical analysis of industrialization and investments in technological upgrade

Sukharev Oleg S., Voronchikhina Ekaterina N.

The article discusses the conditions of forming of a new industrial economic growth model. They are determined by the already established model of growth that is characterized by the dominance of the transactional sector, as well as the impact on the GDP dynamics of each of its components. The structural analysis of economic growth with the assessment of the industrialization level according to the authors' criteria, as well as the empirical analysis of investments in various kinds of technologies that determine the economic system technological level, are conducted. The ‘general' and ‘special' industrialization criteria allow us to determine whether the economy is industrial by structure or by level of technological development. It is shown that the low level of industrialization, especially by the ‘special' criterion, is not predetermined. The structure of investments in different kinds of technologies affects the economy technological level and its change. Policy measures aimed at the creation of a new model of industrial growth for the Russian economy, mechanical engineering and commodity sector should account for that.

Glushetsky A. A. Authorized capital: stereotypes and their overcoming. Economic analysis of corporate law

Palamarchuk Victor P.

Industrial policy in Russia: New conditions and possible agenda (The report of NRU HSE)

National Research University Higher School of Economics

In this article we discuss modern conditions and new approaches to the implementation of industrial policy in the world and in Russia. Having considered a number of Russian cases, we have found such problems of politics as insufficient orientation at new drivers of changes, excessive fragmentation of directions, locality of the achieved results, poor selection of successful practices. In conditions of high technological uncertainty, there is the demand for a search-oriented industrial policy, including the launching of various pilots, regular assessment of effects, termination of ineffective projects. We raise, as an agenda for the future, the issue of transition to a multidimensional policy oriented at a set of structural changes in the economy and the formation of effective management teams for the implementation of relevant initiatives. Besides, we believe the project approach to initiating structural shifts should be combined with institutional changes, increased demonstration effects, improved attractiveness of the national jurisdiction for fast-growing companies and new sectors.

On some implications of blockchain for financial sector

Stolbov Mikhail I.

The article deals with the problems and prospects of blockchain implementation as a general purpose technology in the financial sector. The underlying mechanism of this technology is described, practical cases of its adoption in various segments of the financial sector and in the field of corporate governance are provided. Cryptocurrencies’ status, issuance and regulation are also discussed.

Studying of social and economic development of Russia (On the book by V. A. Mau “Crises and lessons. Russian economy ina turbulent epoch”)

Aganbegyan Abel G.

The article considers the main topics of the book by V. A. Mau “Crises and lessons. Russian economy in a turbulent epoch” and in connection with this - the problems of Russia’s social and economic development in the period of market reforms. The key issues that reflect the specifics of the transformational crisis in Russia are formulated. The reasons of Russian economy stagnation in the mid-2010s are explained. The essence of a new economic policy and sources of accelerating economic growth rates in our country are analyzed.

The regional competitiveness: Methodological reflections

Ukrainsky Vadim N.

The discourse around the competitiveness of spatial socio-economic systems of different levels (countries, regions, cities) has developed very actively in recent decades. The article shows that the degree of elaboration of such important from the methodological point of view aspects of the problem as the consistent conceptualization of the “regional competitiveness” phenomenon, the identification of objects to which this concept is applied, as well as the choice of evaluation methods, leave much to be desired.

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