PAYMENTS CRISIS IN RUSSIA: MYTH OR REALITY?

2020 ◽  
Vol 2 (11) ◽  
pp. 112-118
Author(s):  
D. A. ERMILINA ◽  
Keyword(s):  
Economic Crisis ◽  
Russian Economy ◽  
The Government ◽  
First Time

The payments crisis is the most dangerous manifestation of the general economic crisis. The absence of a normal payment turnover can lead the economy into a state of chaos. For the first time, people began to talk about the payments crisis in Russia in the mid-1990s. The government, realizing the full danger of the emerging situation, developed measures to neutralize it. This article examines the causes of the payment crisis in the Russian economy, identified in 1996 by Academician N. Ya. Petrakov, and analyzes their presence or absence in the economy of modern Russia.

scholarly journals Responses to the Economic Crisis among Immigrants in the Czech Republic: Impeding and Inhibiting Factors for Staying

2012 ◽  
Vol 37 (1-2) ◽  
Author(s):  
Marketa Rulikova
Keyword(s):  
Economic Crisis ◽  
Ethnographic Study ◽  
Guest Workers ◽  
Economic Sectors ◽  
Foreign Guest ◽  
Oil Crisis ◽  
The Government ◽  
The Impact ◽  
First Time

This paper considers the impact of the most recent global economic crisis on immigration in theCzechRepublic. Developments during this economically troubled period suggest that the “immigration-inexperienced”CzechRepublic, which has attracted significant numbers of people seeking economic opportunities in the past decade for the first time, has repeated historical mistakes made by Western European countries during the 1970s oil crisis. Initially, promising economic growth at the beginning of the decade allowed the Czech government to ignore issues of immigration, including controlling inflow and immigrants’ integration into the majority of society. The sudden reality of jobs disappearing in late 2008, irrespective of the fact that many employers in the economic sectors are dependent on foreign guest workers, caught the country unprepared. In an effort to level the unemployment rate and dampen societal unrest, theCzechRepublicoffered financial assistance to immigrants who opted to depart voluntarily, but officials overestimated the willingness of foreign labourers to return home, even if gainful work vanished.This paper is based on research conducted among participants of the government-assisted Voluntary Return Programme and a follow-up ethnographic study in the Vietnamese, Ukrainian and Mongolian communities in Prague. It can be shown that most immigrants decided to stay despite extreme declines in their living conditions. While the motivations of immigrants to leave or stay are multifaceted, this paper offers an alternative to the “pull-push” model that takes into consideration economic as well as cultural factors, which both impede and inhibit migrants from returning “home”.

The crisis of 2020 as an indicator of social responsibility of the Russian state

2020 ◽  
pp. 56-61
Author(s):  
М.А. Измайлова
Keyword(s):  
Social Responsibility ◽  
Economic Crisis ◽  
Small Businesses ◽  
Commodity Markets ◽  
State Support ◽  
Russian Economy ◽  
Russian State ◽  
Two Factors ◽  
Economic Volatility ◽  
The Government

В статье проводится анализ кризисной ситуации, сложившейся в российской экономике под совокупным воздействием двух факторов различного генеза: биологического - коронавируса и экономического - волатильностью на сырьевых рынках. Изложены сценарии и детерминанты развития экономической ситуации в России. Проводится обзор антикризисных мер, предлагаемых экономистами и предпринимаемых правительством по поддержке хозяйствующих субъектов. Особое внимание уделено анализу господдержки малому бизнесу и гражданам. Делается вывод о необходимости ведения открытых дискуссий по предотвращению затяжного характера экономического кризиса. The article analyzes the crisis situation in the Russian economy under the combined influence of two factors of different Genesis: biological - coronavirus and economic - volatility in commodity markets. Scenarios and determinants of the development of the economic situation in Russia are described. A review of anti-crisis measures proposed by economists and taken by the government to support economic entities is being conducted. Special attention is paid to the analysis of state support for small businesses and citizens. It is concluded that it is necessary to conduct open discussions to prevent the protracted nature of the economic crisis.

Natural Rent in the Russian Oil and Gas Sector

2010 ◽  
pp. 4-24 ◽  
Author(s):  
E. Gurvich
Keyword(s):  
Oil And Gas ◽  
Value Added ◽  
Budget Constraint ◽  
Soft Budget Constraint ◽  
Energy Subsidies ◽  
Russian Economy ◽  
Usage Patterns ◽  
The Government ◽  
First Time ◽  
Oil And Gas Sector

Detailed estimates of the hydrocarbon rent for 1999-2009 are presented. Size, sources, and usage patterns of the hidden rent (which is not included into hydrocarbons prices, but provides the source of energy subsidies) are built for the first time. This part of the natural rent is estimated to vary from 8 to 17% of GDP. The largest losses in hydrocarbon rent were related, first, with subsidizing domestic users of natural gas, and second, with diminishing value added in the refinery sector. The obsolete refinery was implicitly supported with relatively low taxation regime. This support reflects overall soft budget constraint stance pursued by the government that constitutes an important impediment to the modernization of Russian economy.

scholarly journals Crisis Phenomena in the Russian Economy and Ways Out of Them

2020 ◽  
Vol 6 (6) ◽  
pp. 199-204
Author(s):  
L. Marchenkova ◽  
E. Samorodova
Keyword(s):  
Economic Crisis ◽  
Soviet Period ◽  
Stock Exchanges ◽  
Internal Factors ◽  
Stock Market Crash ◽  
Russian Economy ◽  
The World ◽  
Local Impact ◽  
Trading Volumes ◽  
The Government

Currently, we can observe a deterioration in the economic situation and a decline in living standards. Understanding the reasons for this situation is not easy enough and is only possible if you have some knowledge of Economics and related terminology. The Russian economy is characterized by uneven development and if we look at the post-Soviet period, we can distinguish the following crisis phenomena: the crisis of 1998, the global crisis of 2008–2009, the crisis that began at the end of 2014 and is currently coming to the economic crisis of the Russian economy and the economies of countries around the world. At the beginning, the pandemic had a local impact on China's stock exchanges, where trading volumes began to decline from January 21, 2020, but since January 27, amid an increase in the number of cases, the fall affected the FTSE 100 and European exchanges. Further developments led to a global stock market crash that began on February 20, 2020. The pandemic itself led to the closure of enterprises in all countries of the world, including in the Russian economy, a sharp increase in demand for everyday products, and speculation in the market for certain products: antiviral drugs, sanitary masks, and disinfectants. The pandemic has affected all sectors of the economy, including education. So, this led to the mass closure of schools and universities. Speaking about crises in General, it can be noted that each of the crises differs in its external and internal factors, the adaptation mechanisms by which the economy adapted to the crisis and used to get out of it, as well as the economic policy pursued by the government. Thus, we will consider the concept of an economic crisis, the prerequisites for its occurrence, and solutions to this problem. In our opinion, the development of theoretical provisions and recommendations on ways out of crises can help the management to develop a number of measures for the stable and sustainable development of the Russian economy.

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.

Crisis Reactions and Their Consequences for the Real Sector of the Russian Economy

2011 ◽  
pp. 39-50
Author(s):  
V. Lushin
Keyword(s):  
Financial Crisis ◽  
Acute Phase ◽  
Dutch Disease ◽  
Added Value ◽  
Real Sector ◽  
The Real ◽  
Balanced Development ◽  
Russian Economy ◽  
The Government ◽  
State Modernization

The author analyzes factors that led to a deeper fall in output and profitability in the real sector of the Russian economy in comparison with other segments during the acute phase of the financial crisis. It is argued that some contradictions in the government anti-recession policy, activities of the financial sector and natural monopolies lead to pumping out added value created in manufacturing and agriculture, increase symptoms of the «Dutch disease», etc. It is shown that it may threaten the balanced development of the Russian economy, and a set of measures is suggested to minimize these tendencies and create a basis for the state modernization policy.

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.

Why do the national financial and monetary policies not boost the economy?

2020 ◽  
Vol 26 (7) ◽  
pp. 1496-1521
Author(s):  
N.I. Kulikov ◽  
M.A. Kulikova ◽  
A.A.S.R. Mobio
Keyword(s):  
Central Bank ◽  
Policy Support ◽  
Gdp Growth ◽  
Government Contracts ◽  
Monetary Policies ◽  
The Past ◽  
Russian Economy ◽  
Yearly Average ◽  
Analysis And Synthesis ◽  
The Government

Subject. This article assesses the reasons why the economic policy of the Government and Central Bank of Russia does not cause the economic advance. The article tries to find out why the two strategic programmes adopted over the past ten years have not been implemented in most indicators. Objectives. The article aims to analyze the results of financial and monetary policies in Russia over the past ten years, and establish why the Russian economy has been growing within one percent yearly average all these years, and its share in the world economy has not grown, but got reduced even. Methods. For the study, we used the methods of analysis and synthesis. Results. The article proposes certain measures and activities to move to soft financial and monetary policies of the State and corresponding changes in the structure of the Russian economy. This will help ensure six to seven percent GDP growth annually. Conclusions. High loan rates have become the main obstacle to GDP growth in Russia. It is necessary to accept concrete actions and decisions concerning the Bank of Russia key rate, expansion of the functions of the Central Bank of the Russian Federation, industrial policy, support of consumer demand, long-term government contracts for the real sector enterprises, etc.

Coronavirus economic crisis in the world economy: features and consequences

2020 ◽  
pp. 7-21
Author(s):  
R. Khasbulatov ◽  
A. Byasharova
Keyword(s):  
Economic Crisis ◽  
World Economy ◽  
The World ◽  
The Government

The article reveals the features of a qualitatively new global coronavirus-economic crisis as well as its dangerous consequences for all countries with no exceptions. Not one single country stays aloof from this crisis. The reaction of the government, their mitigation activities is also discussed in the article.

Telemedicine (or Teleconsultation?) Practice Guidelines of India: A Game changer or a half-hearted attempt amid COVID-19? (Preprint)

2020 ◽  
Author(s):  
Venkatesh U ◽  
Aravind Gandhi P
Keyword(s):  
Health Care ◽  
Practice Guidelines ◽  
Health Care Workers ◽  
Data Security ◽  
Patient Relationship ◽  
Medical Practitioners ◽  
Care Workers ◽  
The Government ◽  
First Time ◽  
Game Changer

UNSTRUCTURED Telemedicine is where health care intersects with Information Technology. In India, there has been no statutory regulations or official guidelines, specific for Telemedicine practice and allied matters, so far. For the first time, Government of India has released Telemedicine Practice Guidelines for Registered Medical Practitioners on March 25, 2020, amid the COVID-19 outbreak. Through this paper, we would like to initiate the discussion on the features of the guidelines, limitations, and its significance in times of COVID-19 pandemic. The guidelines are with a restricted scope for providing medical consultation to patients, excluding other aspects of Telemedicine such as research and evaluation, and the continuing education of health-care workers. The guidelines have elaborated on the eligibility for practicing Telemedicine in India, the modes and types of Teleconsultation, delved into doctor-patient relationship, consent, & management protocols, touched upon the data security & privacy aspects of the Teleconsultation. After releasing the guidelines, Telescreening of public for COVID-19 symptoms is being advocated by the Government of India. COVID-19 National Teleconsultation Centre (CoNTeC) has been initiated, which connects the doctors across the India to AIIMS in real-time for accessing expert guidance on treatment of the COVID-19 patients.

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