"Good" and "bad" billionaires in post-soviet Russia (1997–2020)

2022 ◽  
pp. 22-38
Author(s):  
Grigorii Isaakovich Khanin ◽  
Keyword(s):  
Economic Crisis ◽  
Oil Prices ◽  
Economic Reforms ◽  
Social Differentiation ◽  
Negative Consequences ◽  
Political Structure ◽  
Russian Economy ◽  
Main Factors ◽  
Soviet Russia

The article shows the idea of American economist Ruchir Sharma about "good" and "bad" billion-aires in relation to modern Russia, indicates the criteria proposed by Ruchir Sharma for classifying billionaires as "good" and "bad". The ratio between "good" and "bad" billionaires in modern Russia is studied for the period from 1997 till 2020. To identify "good" billionaires, their list for 2008, 2015 and 2020 is given, indicating companies and industry. For the same years, the shares of "good" billionaires in the total amount of billionaires and their total property were calculated. Sig-nificant growth of a number of "good" billionaires and their share in their total amount and total property of billionaires has been found. The main factors that determined the dynamics and share of "good" billionaires are indicated: the dynamics of world oil prices and the maturity of the Russian bourgeoisie. The share of "good" billionaires in Russia is being compared with the remaining 19 countries analysed by Ruchir Sharma. It turns out that even in the best year of 2020 for Russia in terms of the share of "good" billionaires, it was far behind other countries. Objective and subjective reasons for Russia’s catastrophic lag in the share of "good" billionaires are shown. Objective reasons include the youth of Russian capitalism and the huge demographic losses of Russia in the XX century, especially among the creative part of the population. Subjective reasons include the vices of the carried out in post-Soviet Russia political and economic reforms and the resulting economic and political structure. The negative consequences of the small share of "good" billionaires are analysed. These include the economic crisis in Russia in 2008 and the unsatisfactory structure of the Russian economy, as well as a huge social differentiation. The author proposes measures for accelerated modernization of the Russian economy, creating the most favourable conditions for the growth of "good" billionaires.

RELEVANCE OF ANTI-CRISIS MANAGEMENT DECISIONS IN THE MANAGEMENT OF ENTERPRISES DURING THE PANDEMIC PERIOD

2021 ◽  
Vol 2 (6) ◽  
pp. 110-117
Author(s):  
A. S. SUYARKOV ◽  
◽  
S. L. OZEROV ◽  
E. V. GENKIN ◽  
◽  
...  
Keyword(s):  
Crisis Management ◽  
Economic Crisis ◽  
Financial Stability ◽  
External Environment ◽  
Economic Security ◽  
Research Review ◽  
Scientific Article ◽  
Management Decisions ◽  
Russian Economy ◽  
Main Factors

The scientific article is devoted to a research review of tools, methods, directions and practical recom-mendations aimed at the application of management decisions of anti-crisis management while ensuring the economic security and financial stability of the functioning of enterprises of the economy of the Russian Fed-eration in the context of the spread of the COVID-19 coronavirus pandemic. The relevance of the study is due to a sharp deterioration in the external environment, due to which the domestic business is faced with the actual onset of the economic crisis, which, in turn, forces the use of anti-crisis management mechanisms. The article analyzes the main factors leading to the formation of the crisis period of the Russian economy in the context of the coronavirus. The characteristics of anti-crisis management are described. The main anti-crisis management decisions of Russian enterprises during a pandemic, which can provide a way for a business from a crisis, are listed.

On the limits of the possibility of inflation targeting

2017 ◽  
pp. 71-87
Author(s):  
K. Korishchenko ◽  
N. Pilnik
Keyword(s):  
Exchange Rate ◽  
Inflation Targeting ◽  
Econometric Model ◽  
Oil Prices ◽  
Policy Regime ◽  
Russian Economy ◽  
Exchange Rate Management ◽  
Price Growth ◽  
Main Factors ◽  
Main Determinants

The purpose of this article is to identify the main determinants of consumer price growth in the Russian economy. To achieve this goal, the degree of influence on inflation of the monetary policy of the Bank of Russia, tariff regulation and ruble exchange rate has been determined in the course of the work. The econometric model of inflation formation is used as a research tool depending on the dynamics of the main factors. The article explores the reasons for the significant growth in the volatility of the dollar and, as a consequence, its impact on consumer inflation. According to the presented model, the main volatility generators are the volatility of oil prices and the policy regime of exchange rate management.

Bahrain's economic crisis heightens stability risks

2015 ◽  
Keyword(s):  
Economic Crisis ◽  
Oil Prices ◽  
Political Stability ◽  
Economic Reforms ◽  
Security Threat ◽  
Content Type ◽  
Fiscal Constraints ◽  
Fiscal Adjustment ◽  
Litmus Test ◽  
Crown Prince

Significance With oil prices at an eleven-year low and a budget breakeven price of over 120 dollars, fiscal pressures are spiralling in Bahrain. The kingdom faces the most severe fiscal adjustment of all Gulf Cooperation Council (GCC) states and is likely to become a litmus test for whether politically sensitive economic reforms can be pushed through and implemented across the Gulf. Impacts Other GCC states will increase aid to Bahrain, but will only be able to alleviate its crisis partially due to their own fiscal constraints. Growing ISG activity in Bahrain will reinforce its deep sectarian fissures which represent a new security threat to the regime. Crown Prince Salman will use the economic crisis to try to regain the centre ground in Bahraini politics lost to hardliners in 2011. This would improve Bahrain's longer-term political stability outlook.

scholarly journals The algorithm of interaction of the enterprises of fuel and energy complex in implementation with the use of alternative means of payment

2019 ◽  
pp. 59-64
Author(s):  
O V. Baikova ◽  
D. A. Kulakov
Keyword(s):  
Economic Crisis ◽  
Economic Relations ◽  
Energy Complex ◽  
Russian Economy ◽  
Alternative Means ◽  
Main Factors ◽  
Trade War ◽  
Trust Business

The structure of the algorithm for building a system of payment interaction of enterprises of the fuel and energy complex has been off red. The necessity to include such intangible components as trust, business reputation, transparency of economic relations in the assessment of the value of assets of the fuel and energy complex enterprises has been highlighted. The possibility of wider application of mechanisms of non-monetary trade in the conditions of economy of “distrust” and political and economic crisis has been designated. The peculiartities of cooperation between the enterprises of the fuel and energy complex in the conditions of sanctions pressure, turning into a trade war have been revealed. The possibilities of activation and development of resource trade as one of the main factors of increasing the security of the fuel and energy complex and the Russian economy as a whole have been discovered.

What Does Rent Give to Federal Budget (on the Russia's Budget Dependence upon "Oil Dollars")

2004 ◽  
pp. 51-69 ◽  
Author(s):  
E. Sharipova ◽  
I. Tcherkashin
Keyword(s):  
Oil And Gas ◽  
Strong Dependence ◽  
Oil Prices ◽  
Federal Budget ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Resource Rent ◽  
Tax Legislation ◽  
Russian Economy ◽  
The Government

Federal tax revenues from the main sectors of the Russian economy after the 1998 crisis are examined in the article. Authors present the structure of revenues from these sectors by main taxes for 1999-2003 and prospects for 2004. Emphasis is given to an increasing dependence of budget on revenues from oil and gas industries. The share of proceeds from these sectors has reached 1/3 of total federal revenues. To explain this fact world oil prices dynamics and changes in tax legislation in Russia are considered. Empirical results show strong dependence of budget revenues on oil prices. The analysis of changes in tax legislation in oil and gas industry shows that the government has managed to redistribute resource rent in favor of the state.

Russia’s fiscal stimulus and fiscal sustainability

2013 ◽  
pp. 90-108 ◽  
Author(s):  
N. Akindinova ◽  
N. Kondrashov ◽  
A. Cherniavsky
Keyword(s):  
Government Spending ◽  
Public Expenditure ◽  
Oil Prices ◽  
Fiscal Sustainability ◽  
Macroeconomic Model ◽  
Sharp Drop ◽  
Fiscal Stimulus ◽  
Fiscal Multipliers ◽  
Russian Economy ◽  
The Impact

This study examines the impact of public expenditure on economic growth in Russia. Fiscal multipliers for various items of government spending are calculated by means of our macroeconomic model of the Russian economy. Resources for fiscal stimulus and optimization are analyzed. In this study we assess Russia’s fiscal sustainability in conditions of various levels of oil prices. We conclude that fiscal stimulus is ineffective in Russia, while fiscal sustainability in conditions of a sharp drop in oil prices is relatively low.

The world and Russia: Inflation is minimal, economic growth is slowing, risks are rising

2019 ◽  
pp. 5-23 ◽  
Author(s):  
Mikhail V. Ershov ◽  
Anna S. Tanasova
Keyword(s):  
Economic Growth ◽  
Financial Markets ◽  
World Economy ◽  
Domestic Demand ◽  
New Combination ◽  
Russian Economy ◽  
The World ◽  
World Economic ◽  
Money Creation ◽  
Main Factors

Russian economy has reached the low level of inflation, but economic growth has not accelerated. Moreover, according to official forecasts, in the following years it will still be low. The article concludes that domestic demand, which is one of the main factors of growth, is significantly constrained by monetary, budgetary and fiscal spheres. The situation in the Russian economy is still hampered by the decline of the world economic growth. The prospects of financial markets are highly uncertain. This increases the possibility of crisis in the world. Leading countries widely use non-traditional measures to support their economies in the similar environment. In the world economy as well as in Russia a principally new combination of factors has emerged, which create specific features of economic growth. It requires special set of measures to stimulate such growth. The article proves that Russian regulators have large unused potential to stimulate growth. It includes monetization, long-money creation, budget and tax stimuli. It is important that the instruments, which will be used, should be based on domestic mechanisms. This will strengthen financial basis of the economy and may encourage economic growth. Some specific suggestions as to their use are made.

2008 Economy Results: The End of the "Fat" Years

2009 ◽  
pp. 4-25 ◽  
Author(s):  
B. Zamaraev ◽  
A. Kiyutsevskaya ◽  
A. Nazarova ◽  
E. Sukhanov
Keyword(s):  
Economic Crisis ◽  
National Economy ◽  
Banking System ◽  
Housing Markets ◽  
Transmission Mechanism ◽  
Economic Conditions ◽  
Basic Change ◽  
Russian Economy ◽  
The World

The article analyzes the current economic conditions in Russia. Succession, distribution and the transmission mechanism of the world financial and economic crisis to the Russian economy are considered in this article as well as the changes in the banking system, share and housing markets. Production, consumption and investment on the boundary of 2008-2009 are described. The conclusion about the basic change of conditions of national economy development is presented.

Analyzing the financial and economic momentum as a result of changes in the interest rate

2020 ◽  
Vol 16 (9) ◽  
pp. 1656-1673
Author(s):  
V.V. Smirnov
Keyword(s):  
Interest Rate ◽  
Natural Gas ◽  
Central Bank ◽  
Crude Oil ◽  
Oil Prices ◽  
Global Capitalism ◽  
Positive Effects ◽  
Russian Economy ◽  
Oil And Natural Gas ◽  
The Interest Rate

Subject. The article discusses financial and economic momenta. Objectives. I determine financial and economic momenta as the interest rate changes in Russia. Methods. The study is based on a systems approach and the method of statistical analysis. Results. The Russian economy was found to strongly depend on prices for crude oil and natural gas, thus throwing Russia to the outskirts of the global capitalism, though keeping the status of an energy superpower, which ensures a sustainable growth in the global economy by increasing the external consumption and decreasing the domestic one. The devaluation of the national currency, a drop in tax revenue, etc. result from the decreased interest rate. They all require to increase M2 and the devalued retail loan in RUB, thus rising the GDP deflator. As for positive effects, the Central Bank operates sustainably, replenishes gold reserves and keeps the trade balance (positive balance), thus strengthening its resilience during a global drop in crude oil prices and the COVID-19 pandemic. The positive effects were discovered to result from a decreased in the interest rate, rather than keeping it low all the time. Conclusions and Relevance. As the interest rate may be, the financial and economic momentum in Russia depends on the volatility of the price for crude oil and natural gas. Lowering the interest rate and devaluing the national currency, the Central Bank preserves the resource structure of the Russian economy, strengthens its positions within the global capitalism and keeps its status of an energy superpower, thus reinforcing its resilience against a global drop in oil prices.

FISCAL ROLE OF EXCISE TAX ON EXCISE GOODS MANUFACTURED IN UKRAINE IN CONDITIONS OF CONSTANT CHANGES IN TAX LEGISLATION AND PANDEMIC COVID-19

2017 ◽  
Author(s):  
Natalia Rudenko ◽  
◽  
Tatiana Tuchak ◽  
Keyword(s):  
European Integration ◽  
Economic Crisis ◽  
The State ◽  
Excise Tax ◽  
Tax Revenues ◽  
Tax Legislation ◽  
Economic Stagnation ◽  
Legislative Framework ◽  
Main Factors

The article analyzes the fiscal role of the excise tax on excisable goods (products) produced in Ukraine in the context of permanent changes in the tax legislative framework and within the framework of the global crisis through the coronavirus disease COVID-19. The concept of excise tax has been substantiated, a list of excisable products (goods) has been provided in accordance with legislative acts, the payers of this tax have been specified. The most important events and transactions that influenced the amount of tax revenues from excise tax are investigated. The authors believe that the main reason for the changes in the administration process and the receipt of the excise tax are the European integration transformations and the conditions of the global socio-economic crisis. Based on the difficult economic situation in the state, some legislative acts regulating the collection of excise tax from excisable products produced in the country were considered. It was revealed that a moratorium on the payment of excise tax was imposed on the territory of the studied state for a certain period. This event made its own adjustments to the proceeds from the payment of excise tax on excisable products (goods) produced domestically, and also allowed domestic producers to move from the place of economic stagnation. In Ukraine, they began to actively manufacture and sell antiseptic and disinfectants of their own production to protect citizens. According to the data of the State Treasury Service of Ukraine, the authors analyzed the indicators of tax revenues for each type of excisable products (goods) of domestic production. It was revealed from which products more tax was received during the study period. The main factors that influenced the receipts of excise tax from excisable goods produced on the territory of Ukraine in the period of 2019, as well as for 9 months of 2020, have been determined.

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