scholarly journals Resilience factors in the Russian economy: The comparative analysis for 2000–2020

2021 ◽  
Vol 17 (8) ◽  
pp. 1412-1432
Author(s):  
Viktoriya V. AKBERDINA
Keyword(s):  
Capital Mobility ◽  
Global Financial Crisis ◽  
Import Substitution ◽  
Value Added ◽  
Industrial Sector ◽  
Russian Economy ◽  
Industrial Sectors ◽  
Macroeconomic Indicators ◽  
Resilience Factors ◽  
The Impact

Subject. The study investigates the impact of shocks on the economic dynamics during recurring crises. Nevertheless, the impact of exogenous shocks may turn to be minor for GDP of some countries, while they cause unfavorable consequences for the economic development of others. Objectives. I herein identify factors of resilience in the Russian economy, referring to three different crises that took place in 2000–2020, by conducting a theoretical overview of the concept Economic Resilience and resilience factors of economic systems against different shocks. Methods. The decomposition of macroeconomic indicators is the principal method of research. The resilience of the Russian economy and other advanced economies was assessed by macroeconomic indicators related to trends in GDP and the unemployment level. I point out two groups of factors – the innate and acquired (adaptability). Results. During the global financial crisis in 2008, the Russian economy demonstrated its innate factors, such as the availability of considerable reserves and capital mobility between the financial and industrial sectors, as well as adaptive factors as part of the national anti-crisis policy. During the period of sanctions, the resilience of the Russian economy stemmed from the enormous potential of the industrial sector and R&D, considerable reserves for production development, which underlay the import substitution policy. Finally, in the outbreak of the 2020 crisis, Russia managed to handle the crisis much better than the leading countries of the world, since there is a prevalence of State-owned large business and the domestic localization of value added chains. Conclusions and Relevance. The study substantiated the objectivity of resilience factors of the Russian economy during multiple crises, i.e. a combination of financial, commercial, political and pandemic crises.

Specifics of the Impact of Sanctions on the Sectoral Development of the Russian Economy

2018 ◽  
Vol 11 (4) ◽  
pp. 44-53
Author(s):  
S. A. Varvus
Keyword(s):  
Agricultural Sector ◽  
Import Substitution ◽  
Value Added ◽  
Development Trend ◽  
Economic Relationships ◽  
Russian Economy ◽  
Reproduction Process ◽  
Substitution Policy ◽  
Sectoral Development ◽  
The Impact

The subject of research is the consequences of the impact of sanctions on a regional economy through the agricultural sector because the imposition of sanctions and the import substitution policy in agriculture have influenced all stages of the reproduction process, being an extra stimulus to the development of the sector. The paper examines the agricultural sector in the light of the import substitution policy and the effects of the first and second orders of sanctions. The purpose of research was to analyze the economic relationships of the largest agro-industrial holdings that are built along the value-added chain and influence the development of the region. The paper concludes that despite the sanctions, the industry is on the rise. However, due to second-order factors (high loan interest, long payback periods, etc.), the dynamic development trend may exhaust itself. Therefore, the state should continue to support the agriculture that has an indirect effect on the socio-economic level of regional development.

scholarly journals Econometric models for estimating current and forecast values of the level of human capital development in the Russian economy

2020 ◽  
Vol 26 (1) ◽  
pp. 52-67
Author(s):  
Nina Baranova ◽  
Sergey Larin ◽  
Evgeny Khrustalyov
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
Negative Impact ◽  
Import Substitution ◽  
Econometric Models ◽  
Practical Significance ◽  
Human Capital Development ◽  
Russian Economy ◽  
Capital Development ◽  
The Impact

Studies of factors of sustainable economic development in modern conditions are highly relevant for Russia due to the constant increase and tightening of sanctions restrictions. They have a negative impact on the introduction of innovative developments and economic growth, and reduce the competitiveness of Russian enterprises and their products on world markets. Human capital can become one of the key factors for countering sanctions restrictions, improving the efficiency of economic development and gaining additional competitive advantages for domestic enterprises and the economy as a whole. Assessing the impact of human capital on the sustainable development of the economy is difficult, since it is one of the specific forms of capital. When making appropriate measurements, economic scientists rely on a number of developed theoretical methods and practical tools that support them, which allow us to obtain fairly accurate values of the human capital development index (HDI) based on statistical data. First of all, this is the current UN methodology for calculating the HDI indicator, as well as modern software systems OriginPro-8.6 and Eviews-10.0, which have sufficiently advanced functionality for performing calculations. Russia today has all the necessary prerequisites and opportunities for progressive social and economic development. However, the formation of econometric models will help to timely determine the current and forecast values of the level of human capital development for individual enterprises, industries, and the country’s economy as a whole. This paper shows the practical application of the econometric tools of all the above approaches to obtain the calculated values of the HDI indicator for different time periods and different scenarios for the development of the Russian economy. The results obtained confirmed the high practical significance of the tools used and the acceptable accuracy of the calculations. However, the current and forecast values of the level of human capital development alone will not be able to ensure the effective development of the Russian economy. On the contrary, the effective use of human capital in the implementation of import substitution strategies and national projects will allow our country to become one of the world’s leading economic development countries.

scholarly journals How the global economy reflected the year of the pandemic

2021 ◽  
Vol 129 ◽  
pp. 01014
Author(s):  
Vladislav Kaputa ◽  
Frederik Kvočák ◽  
Miroslava Triznová ◽  
Andrej Tomić ◽  
Hana Maťová
Keyword(s):  
Global Economy ◽  
Value Added ◽  
Point Of View ◽  
Environmental Aspects ◽  
Data Comparison ◽  
The Social ◽  
Macroeconomic Indicators ◽  
The Individual ◽  
Reduced Mobility ◽  
The Impact

Research background: The coronavirus pandemic in 2020 had a significant impact on all aspects of life, from the point of view of the individual by forcing social isolation, moving work and study to the home, enormous pressure on the social and health system, but also by forcing closures of services and direct contact with customers. These, as well as other factors, have also had an impact on the performance of economies around the world. Purpose of the article: The paper aims to evaluate the development of the world's major economies in terms of macroeconomic indicators and foreign trade in the pandemic period and previous periods. The social and environmental aspects of the impact of the pandemic on selected economies are also reflected. Methods: Analysis of the main macroeconomic data, comparison and synthesis of findings. Findings & Value added: The interdependence of economies and interconnectedness of markets on transport routes associated with reduced mobility, forced isolation of people and death of economic activity had a significant impact on all the observed indicators, where a significant decline in GDP could be observed in all countries except China. This country was the only one that managed to keep GDP growth in positive numbers. Unemployment development was not equal in the observed economies due to different labour market environment. On the contrary, the environment has benefited in some way.

Integration of Manufacturing, Science and Education as a Basis for the Re-Industrialization of Russia

2015 ◽  
pp. 94-104
Author(s):  
S. Bodrunov
Keyword(s):  
Economic Policy ◽  
Import Substitution ◽  
Domestic Industry ◽  
Technological Basis ◽  
Russian Economy ◽  
World Economic ◽  
Science And Education ◽  
The Government ◽  
The Impact ◽  
Manufacturing Science

The article investigates the problems that Russian industry has encountered during the period of economic reforms. The author explores the reasons for the competitiveness decrease and contradictions that hinder the modernization of the domestic industry. Based on the analysis the principal concept is posed of the need in the implementation of the strategy of re-industrialization in Russia on a new technological basis. The basic directions of re-industrialization, the mechanisms of its implementation, as well as the impact on import substitution are considered. Substantial attention is paid to the risks inherent in a re-industrialization of Russia and the ways to overcome them. In recent years, geo-political and geo-economic challenges to the Russian economy and society greatly exacerbated the contradictions that emerged in the previous decades of economic evolution. During a long period of time the country tried to implement an economic policy intended, in principle, at achieving the strategic goal of creating a modern socially-oriented market economy on the base of modernization. However, the practical tools for implementation of this course – first of all, the ideology of “market fundamentalism” combined with the remaining powerful black market and “hand steering” by the government – caused stagnation and further de-industrialization of the country with inevitably negative implications for the manufacturing, science, education, human capital. Most recently, the Russian economy faced additional problems, namely, the Western sanctions, world economic slump and decline in world oil prices. That is why significant changes in the objectives and tools of economic policy are so urgent.

Technological Developments

2021 ◽  
pp. 1464-1487
Author(s):  
Hande Mutlu Ozturk
Keyword(s):  
Industry 4.0 ◽  
Industrial Revolution ◽  
Industrial Sector ◽  
The Past ◽  
Industrial Sectors ◽  
Tourism Sector ◽  
Technological Developments ◽  
The Impact

Technological developments in recent years have been affecting the lives of people and societies more rapidly than in the past. Developments in the field of communication, robotics, transportation, etc. are called the 4th Industrial Revolution or Industry 4.0 in the industrial sector. Technological developments have created great changes in the services and industrial sectors. Industry 4.0 has also led to changes in the transformation of the tourism sector and is likely to occur in future processes. This chapter examines the impact of Industry 4.0 on the tourism sector.

An Empirical Study of the Investment to Promote the Technological Progress of China's Industrial

2014 ◽  
Vol 472 ◽  
pp. 1061-1065
Author(s):  
Yan Jun Wu ◽  
Shi Dong Ji ◽  
Li Jiang Jia
Keyword(s):  
Foreign Investment ◽  
Technological Progress ◽  
Market Competition ◽  
Stochastic Frontier ◽  
Industrial Sector ◽  
Rate Of Change ◽  
Domestic Investment ◽  
Industrial Sectors ◽  
To Come ◽  
The Impact

This paper using data of China's Industrial Sector in 1996 -2010, selecting the stochastic frontier production function model, estimating the rate of change of total factor productivity in various industries, gets the level of technological progress in various industries. On this basis, domestic and foreign investment in 1996 -2010 data, were used based on the panel data model to study the impact of the level of domestic and foreign investment in industrial sectors of technological progress. The empirical results show that the industrial technological progress in the vast majority of the industry comes from domestic investment or foreign investment, the individual industry even at the same time by the dual effects of domestic and foreign investment, When the industry is characterized by high degree of market competition and foreign investment to domestic investment proportion is higher, technological progress is more inclined to come from domestic investment, the contrary is more inclined to come from foreign investment.

Taxable Capacity, Tax Efforts and Structural Break: Do the Child States Follow Their Respective Parents?

2016 ◽  
Vol 5 (2) ◽  
pp. 186-219 ◽  
Author(s):  
Nagendra Kumar Maurya ◽  
Sapana Singh ◽  
Shagun Khare
Keyword(s):  
Structural Break ◽  
Uttar Pradesh ◽  
Value Added ◽  
Industrial Sector ◽  
Jel Classification ◽  
Conclusive Evidence ◽  
The State ◽  
Tax Revenue ◽  
Break Points ◽  
The Impact

The present article makes an attempt to test the hypothesis whether smaller states have better fiscal efficiency in terms of own tax revenue collections or not. This has been tested by taking the case of three states Uttar Pradesh, Madhya Pradesh and Bihar with their child states Uttarakhand, Chhattisgarh and Jharkhand, respectively. For this purpose tax buoyancy, tax capacity and efforts, and structural break models—Chow test (with known break points) and Quandt likelihood ratio (QLR) test (with unknown break points), to see the impact of value added tax (VAT) on own tax revenue (OTR)—have been estimated. Log-log regression model was adopted for both calculating tax buoyancies and taxable capacity of each parent and child state. However, we did not find any conclusive evidence that child states have better tax buoyancy or tax efforts. On the basis of our observations, we concluded that the size of the state is not a major determinant affecting revenue efficiency of the state. Other supplementary policies like efficient tax administration, developed industrial sector, reduced exemptions and concessions, broad-based and effective tax rates are equally important. JEL Classification: H11, H21, H71, R50

scholarly journals TRANSMISI DAMPAK MELALUI JARINGAN PERDAGANGAN: PENDEKATAN ASIAN-IO

2014 ◽  
Vol 16 (4) ◽  
pp. 339-372
Author(s):  
Ibrahim Ibrahim ◽  
Tri Winarno ◽  
Melva Viva Grace ◽  
Yan Fitri
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Value Added ◽  
Jel Classification ◽  
Input Output ◽  
Asian Countries ◽  
Production Chain ◽  
The Us ◽  
Similar Point ◽  
The Impact

Global financial crisis which began in the US in the latter part of 2008 hit a lot of countries in both trade and finance. In trade aspect, the crisis spread widely; in Indonesia, the total export value in 2009 dropped to 14,3%. Therefore, the economy of China, tightly linked with Asian countries including Indonesia, which rapidly rose before the crisis but slowed after it should be monitored as this condition, could indirectly hold down Indonesia’s GDP. Applying RAS method to update Asian IO data, this research has attempted to describe the trade structure of Asian countries in 2010. Also, it implemented a simulation of the impact of US and China’s GDP decline and US exports on Indonesia’s GDP, both at aggregate and sector levels. The result of the mapping shows that Indonesia is getting more dependent on China. Generally, the link between Indonesia’s exported products and global production chain is weak. Indonesia’s export commodities which are mostly of intermediate goods have low contribution towards value added. Moreover, the result of the simulation shows that 1% decrease in China’s GDP has greater impact on Indonesia’s GDP (0,14%) than that of the US (0,05%) and EU (0,07%) though with similar point.  Keyword: Trade Interactions, Input Output Model JEL Classification : F16, R15

scholarly journals The Impact of COVID-19 on Small Businesses’ Performance and Innovation

2021 ◽  
pp. 097215092110391
Author(s):  
Ronen Harel
Keyword(s):  
Open Innovation ◽  
Small Businesses ◽  
International Markets ◽  
Industrial Sector ◽  
Economic Uncertainty ◽  
Trade Restrictions ◽  
Theoretical Contribution ◽  
Industrial Sectors ◽  
Work Strategies ◽  
The Impact

This study looked at the impact of the Coronavirus Disease 2019 (COVID-19) pandemic on the revenues of small businesses operating in industrial sectors and at the extent to which these businesses changed or adjusted their business activity, or changed the extent to which they utilized open innovation tools and implement innovation promotion processes. The findings show that, despite COVID-19’s far-reaching impact in all areas of life, the revenues of most small businesses in industrial sector were not adversely affected by the pandemic, and most of them did not change or adjust their business activities or the extent to which they employed open innovation tools and engage in innovation promotion processes. The findings also indicate that small businesses, most of whose revenues derive from subcontracting work to other businesses business to business (B2B) and from long-term agreements, are likely to cope better during periods of economic difficulty and under conditions of economic uncertainty. The findings also show that businesses that are active in the international markets have succeeded in adapting that activity to the changing demands and various trade restrictions. This study’s theoretical contribution lies in its focus on small businesses in the industrial sector and its examination of how the subcontracting strategy and international operations help such businesses contend with problems and conditions of economic uncertainty. On the practical plane, the findings suggest that policymakers should foster programmes that assist small businesses with these work strategies, which can help them survive, enhance their stability and thereby also promote the economy’s ability to withstand crisis situations

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