scholarly journals Social Efficiency Indicators of Public Investment: The Case of the Far Eastern Regions

2020 ◽  
Vol 16 (4) ◽  
pp. 23-43
Author(s):  
Artyom Isaev ◽  
Keyword(s):  
Discount Rate ◽  
Public Investment ◽  
Far East ◽  
Social Discount Rate ◽  
Social Efficiency ◽  
Public Projects ◽  
Jewish Autonomous Oblast ◽  
The Far East ◽  
The Social ◽  
Far Eastern

The article provides estimates of the social discount rate and regional welfare weights for the Russian Far East territories. The key parameter for their calculations is the elasticity of the marginal utility of consumption, estimated for the Russian Federation as a whole on the basis of the consumer demand function for food products. It’s revealed that for different territories should be applied different social discount rates for to assess the social effects of projects with state participation. The reason is that territories differ in the quality of life, which can be traced through interregional differences in the level and dynamic of the domestic consumer market as well as the size and structure of household income and expenditure. The social discount rate is sensitive to the future annual growth rate of household consumption in the region. If we take the actual average annual rates for 2000–2018 as forecast values, the Sakhalin Oblast has the highest social discount rate (12 per cent), and the Chukotka Autonomous Okrug has the lowest rate (7.6 per cent). Regional welfare weights show how the regions of the Far East are ranked according to the degree of impact of public investment on marginal changes in the welfare of their households. Thus, the lowest marginal increase in welfare in the Far Eastern Federal District will be observed in the Sakhalin Region, followed by the Khabarovsk Territory. From the social efficiency point this casts doubt on the choice of these regions as priority locations for large-scale public projects. On the other hand the largest effect of public projects for the improving of welfare will be observed in the Jewish Autonomous Oblast and the Zabaikalsky Krai. These regions are characterized by the highest values of regional welfare weights in the Far East for 2018, and consequently the highest marginal welfare growth for households due to public investment. It is worth noting that in 2010 the Chukotka Autonomous Okrug and Kamchatsky Krai were characterized by the highest values of the regional welfare weights in the Far East. By 2018 these two regions significantly improved their positions. Despite the fact that the regional welfare weights for most of the Far Eastern regions decreased significantly, for the Jewish Autonomous Oblast and the Zabaikalsky Krai this decrease was minimal (2 per cent and 5 per cent respectively)

scholarly journals Discounting Disentangled

2018 ◽  
Vol 10 (4) ◽  
pp. 109-134 ◽  
Author(s):  
Moritz A. Drupp ◽  
Mark C. Freeman ◽  
Ben Groom ◽  
Frikk Nesje
Keyword(s):  
Discount Rate ◽  
Time Preference ◽  
Wealth Effect ◽  
Social Discount Rate ◽  
Economic Values ◽  
Public Projects ◽  
Highly Sensitive ◽  
The Social ◽  
Ramsey Rule

The economic values of investing in long-term public projects are highly sensitive to the social discount rate (SDR). We surveyed over 200 experts to disentangle disagreement on the risk-free SDR into its component parts, including pure time preference, the wealth effect, and return to capital. We show that the majority of experts do not follow the simple Ramsey Rule, a widely used theoretical discounting framework, when recommending SDRs. Despite disagreement on discounting procedures and point values, we obtain a surprising degree of consensus among experts, with more than three-quarters finding the median risk-free SDR of 2 percent acceptable. (JEL C83, D61, D82, H43, Q58)

scholarly journals Transnational Co-production of Knowledge: The Standardisation of Typhoon Warning Codes in the Far East, 1900–1939

Minerva ◽  
2022 ◽  
Author(s):  
Aitor Anduaga
Keyword(s):  
Force Field ◽  
Knowledge Production ◽  
Social Order ◽  
Far East ◽  
Power Struggles ◽  
Production Of Knowledge ◽  
The Far East ◽  
The Social ◽  
Transnational Cooperation ◽  
Far Eastern

AbstractThe why and the how of knowledge production are examined in the case of the transnational cooperation between the directors of observatories in the Far East who drew up unified typhoon-warning codes in the period 1900–1939. The why is prompted by the socioeconomic interests of the local chambers of commerce and international telegraphic companies, although this urge has the favourable wind of Far Eastern meteorologists’ ideology of voluntarist internationalism. The how entails the persistent pursuit of consensus (on ends rather than means) in international meetings where non-binding resolutions on codes and procedures are adopted. The outcome is the co-production of standardised knowledge, that is, the development of a series of processes and practices that co-produce both knowledge and ideas about the social order in a force field characterised by negotiations and power struggles.

scholarly journals Professor of the Kuibyshev Planning Institute Vasily Lvovich Pogodin: materials for the biography

2019 ◽  
Vol 8 (3) ◽  
pp. 214-222
Author(s):  
Yulia Aleksandrovna Zherdeva
Keyword(s):  
Far East ◽  
Special Role ◽  
Cultural Institutions ◽  
Military Career ◽  
The Far East ◽  
The Social ◽  
Planning Institute ◽  
The University ◽  
Far Eastern

The paper is based on archival materials about the activities of the Kuibyshev Planning Institute of the 1930s. It reconstructs the biography of the Russian and Soviet diplomat, military and academic of the first third of the 20th century, Vasily Lvovich Pogodin (1870 - after 1937). The study reveals a set of documentary evidence on the diplomatic and pedagogical career of V. Pogodin in the first years of the Soviet power, and determines the features of his pedagogical and party activities in Kuibyshev in 1933-1937. The author highlights a special role of the Planning Institute party committee materials as well as the high school workers trade union in the reconstruction of Pogodins biography. The paper emphasizes that Pogodin was considered to be one of the best lecturers of the Kuibyshev Planning Institute and a credible party worker. It is noted that his noble origin, service in the tsarist army and membership in the party of the Social Revolutionaries until 1937 were not the reason for penalties or prosecution by the party or the university administration. As a result, the author concludes that the fate of Vasily Lvovich Pogodin shows an extraordinary character of his personality. He made a brilliant military career in the years of the late Russian empire and became a major general of the Russian imperial army. Then he managed to integrate into the new Soviet system, radically changing the sphere of his activity and having achieved no less outstanding results in diplomacy and education. He became the plenipotentiary representative of the Far Eastern Republic in China, the director of a number of educational and cultural institutions of the Far East, then a professor of political economy in Kuibyshev.

Specific features of social and economic development of the Far-Eastern macro-region

2021 ◽  
Vol 96 (3) ◽  
pp. 31-44
Author(s):  
E. B. Veprikova ◽  
◽  
V. V. Kubichek ◽  
Keyword(s):  
Far East ◽  
Limiting Factors ◽  
Competitive Advantages ◽  
Economic Potential ◽  
Resource Potential ◽  
The Public ◽  
The Far East ◽  
The Social ◽  
Social And Economic Development ◽  
Far Eastern

The authors proposed the approach for assessing the state and development potential of the macro-region. The specificity of the Far-Eastern macro-region is revealed in comparison with the other macro-regions of Russia. The assessment includes the natural and resource potential of the macro-region, the availability of infrastructure, the habitability of the territory as well as the indicators of economic and social development. Competitive advantages and limitations in the development of the Far East are presented. Proposals on the directions of implementation of the public policy of spatial development of the Far-Eastern macro-region, including the social and economic potential and the limiting factors, are formulated.

Self-employed in the Far East of Russia

2021 ◽  
Vol 95 (2) ◽  
pp. 152-164
Author(s):  
Ju. N. Solovyeva ◽  
Keyword(s):  
Job Search ◽  
Far East ◽  
Federal District ◽  
The Self ◽  
Sociological Research ◽  
Search Activity ◽  
The Far East ◽  
The Social ◽  
Identification Of Persons ◽  
Far Eastern

The article presents an analysis of the dynamics of self-employed citizens of the Far-Eastern federal district. The quantitative effect as a result of introduction of a special tax regime «Tax on professional income» is presented. An assessment of expectations of the local authorities in the regions of the Far East from the introduction of special tax regime is given. A retrospective of status of the self-employed at the legislative level is presented. An assessment of the most rapidly developing spheres of activity of the self-employed is given, an attempt is made to draw up a social portrait of this category of citizens. The analysis of job search activity of the self-employed and their hiring by employers has been carried out. It is shown that as a result of lack of exhaustive concept of the category of «self-employed», enshrined at the legislative level, there is confusion with the self-identification of persons who consider themselves as self-employed citizens. In addition, there are a number of economic, legal and social problems that the self-employed face today. According to the author, development of the legislative activity in this direction (development of the state support programs, national projects in the field of small and medium-sized businesses, expansion of the rights of the self-employed, etc.), expansion of the economic and sociological research of this category of citizens (in particular, selective observation, compilation an exhaustive social portrait, inclusion of a large social group of self-employed in the social structure of the society) contributes to a more active «exit from the shadows», legalization of implementation of their own activities, overcoming difficulties arising on the way of self-employed, growth of trust in the authorities. The conclusions are formulated on the basis of results of a sociological survey of citizens.

Development of support measures for the Far-Eastern economy (taking into account for external calls)

2020 ◽  
Vol 92 (3) ◽  
pp. 44-54
Author(s):  
O. G. Ivanchenko ◽  
Keyword(s):  
Financial Support ◽  
Qualitative Difference ◽  
Far East ◽  
Federal District ◽  
State Support ◽  
Social Sphere ◽  
The Far East ◽  
The Social ◽  
New Challenges ◽  
Far Eastern

The subject of this study is formation and effectiveness of measures of the state support for development of the economy of the Far-Eastern federal district of the Russian Federation. The article discusses measures of investment, infrastructural and financial support for the economic entities and the social sphere of the Far East, which have been formed in the recent years under the influence of the goals of its development, the structural transformation of the economy of the Far-Eastern regions and external challenges caused by financial and economic crises. Particular attention is paid to the measures of state support for development of the investment activities in the Far East, financial support for small and medium-sized businesses, as well as support for the economy in connection with the new challenges related to the coronavirus pandemic. The qualitative difference in external challenges, crisis phenomena associated with the economic, financial reasons, as well as the causes of the crisis caused by a viral pandemic require constant transformation and development of mechanisms and measures to support the economy. Difference in the reasons entails fundamental differences in the means of ensuring recovery growth. It is shown that the constant adjustment and readjustment of measures to support the development of the Far Eastern economy and business, the variety of measures proposed to accelerate the development of the economy and create a new quality of life for the population of the Far East did not become a driver of accelerated growth. New challenges can become a platform for the further transformation of structure of the Far-Eastern economy and make it necessary to adjust the priorities, tools and measures to support development of the Far-Eastern economy.

scholarly journals More appropriate discounting: the rate of social time preference and the value of the social discount rate

2013 ◽  
Vol 4 (1) ◽  
pp. 1-16 ◽  
Author(s):  
Mark A. Moore ◽  
Anthony E. Boardman ◽  
Aidan R. Vining
Keyword(s):  
Discount Rate ◽  
Time Preference ◽  
Shadow Price ◽  
Private Investment ◽  
Social Discount Rate ◽  
Benefit Cost Analysis ◽  
Public Projects ◽  
Social Time ◽  
The Social ◽  
Benefit Cost

Recently, a number of authors, including Burgess and Zerbe, have recommended the use of a real social discount rate (SDR) in the range of 6–8% in benefit-cost analysis (BCA) of public projects. They derive this rate based on the social opportunity cost of capital (SOC) method. In contrast, this article argues that the correct method is to discount future impacts based on the rate of social time preference (STP). Flows in or out of private investment should be multiplied by the shadow price of capital (SPC). Using this method and employing recent United States data, we obtain an estimate of the rate of STP of 3.5% and an SPC of 2.2. We also re-estimate the SDR using the SOC method and conclude that, even if analysts continue to use this method, they should use a considerably lower rate of about 5%.

scholarly journals A Review of Approaches to Construct Social Discount Rate

2016 ◽  
Vol 8 (4-3) ◽  
Author(s):  
Ai-Jiun Chua ◽  
Weng-Wai Choong
Keyword(s):  
Discount Rate ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Social Costs ◽  
Benefit Analysis ◽  
Costs And Benefits ◽  
Social Discount Rate ◽  
Public Projects ◽  
The Social ◽  
Social Costs And Benefits

There is increasing concern on how public projects are being evaluated especially for public projects that bring impacts towards the economic, social and environmental of the nation in the long-term, for example infrastructural, environmental protection, energy efficiency, healthcare, education expenditures and others. Thus, the federal government and state government recommend project assessors to adopt cost-benefit analysis for major infrastructure and social investment as well as for regulatory initiatives. Cost benefit analysis has been widely used as a tool to enable stakeholders to make a better decision for projects by systematically comparing the social costs and benefits with the emphasis on valuing them in monetary term. One of the most significant parameters for cost benefit analysis is the social discount rate. It is a rate that used to convert the future social costs and benefits into present value. However, there is a long-time debate on how to construct appropriate social discount rate. Literature reveals that there are various popular approaches to construct social discount rate, such as Social Time Preference (STP) approach, Social Opportunity Cost of Capital (SOC), and Shadow Price of Capital (SPC). The selection of approaches is a significant process to construct an appropriate social discount rate for the project. In this paper, author examines theoretical for each approach and procedures to construct social discount rate. A framework will be developed to guide the assessor in selecting the approaches to construct social discount rate. This paper intends to review social discount rate construction approaches and the pros and cons of each approach. The paper would provide insight to assessor in selecting the approach in construction social discount rate. 

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