Russian (CIS)English (United Kingdom)

Latest Issue № 3, 2020

Archive / 2011

Download No 2, 2011
No 2

World Bank: Research and Estimates

The World Bank in Russia
Russian Economic Report No 23 (Growth with Moderation and Uncertainty)
With heightened uncertainties and moderating global and Western European growth and oil prices, and volatile capital flows, Russia is likely to grow as domestic demand expands in line with gradual improvements in the labor and credit markets. Unemployment situation is likely to get worse before it gets better later in 2011. While there is huge diversity across regions in the patterns of labor market recovery, smaller regions with a larger share of SMEs, more FDI, and stronger financial sector presence tend to show a more robust recovery.
Key words: Russian economy, economic growth, uncertainty, domestic demand.

The World Bank in Russia  (36 bldg. 1, Bolshaya Molchanovka ul., Moscow, 121069, Russian Federation).

Economic Policy


On Overcoming the Financial Crisis
On the basis of new data the place of the Russian economy in the world is considered, the rates of GDP and the levels of economic development of Russia are compared with the developed world. The dynamics of all that parameters is analyzed over the past 20 years. Different forecasts of socio-economic development of our country in the medium and long term are analyzed. The possibility of achieving in the next 10—15 years — acquiring a new model of development — the level of developed countries and within 15—20 years — the higher developed countries of G7 is investigated.
Key words: Russian economy, crisis, economic growth, forecast.

Abel Aghanbegyan, Academician, Russian Presidential Academy of National Economy
and Public Administration (82, prosp. Vernadskogo, Moscow, 119571, Russian Federation).


The Other Countries’ Experience: Something To Learn (The Ending)
The article touches upon macro-economic situation and macro-economic politics of China, at the very outset and the peak of the world crisis as well as during the recovery. Certain moments that influenced the changes in the Chinese macro-economic policy are emphasized. Anti-crisis package adopted in November 2008 is analized as an element of more broad approach of Chinese authorities towards new economic realities. The role of a non-standard (for any other countries) instrument — the elimination of the centralized “credit qoutas” — in supporting the overall economic activity in China is highlighted. Some particular characteristics of the Chinese monetary policy as efficiency, diversity, pragmatism, and targeting are precised.
Key words: China, macroeconomic policy, economic growth, anticrisis measures.

Sergei Aleksashenko, Cand. Sci. (Econ.), senior research fellow, director for macroeconomic research.
Dmitry Miroshnichenko, research fellow.
Sergei Smirnov,  Cand. Sci. (Econ.), deputy director.
Andrei Chernyavsky, Cand. Sci. (Econ.), senior research fellow.

Development Center, National Research University — Higher School of Economics 
(4 bldg 2, Slavyanskaya Ploshchad, Moscow, 103074, Russian Federation).


The Abolition of Serfdom as a Perfect Example of a Model of Russian Reform
According to the author, the entire package of the Great Reforms of the1860 — the beginning of 1880 can be regarded as exemplary. Occupying a key position agrarian reform during which the serfdom was abolished by the state was caused be the needs to modernization and deeper assimilation of European cultural, political and socio-cultural standards. Terms of the abolition of serfdom was a compromise for all three parties involved — government, landowners and serfs. The preparation of the reform was thoroughly, slowly and gradually. The most important condition, which provided rapid economic growth in the time of the reform, was a moderate tax burden on the peasantry.
Key words: great reforms, agrarian reform, serfdom, modernization, economic growth.

Boris Mironov, Dr. Sci. (History), professor, St. Petersburg State University
(11, Universitetskaya Nab., St. Petersburg, 119034, Russian Federation); Institute for History
of the Russian Academy of Sciences (7, Petrozavodskaya ul., Saint Petersburg, 197110, Russian Federation).

Urban Economics

Compact City
The article is focused on the comparison of two opposite views of developing Russian cities. The first, which is traditional for Russia, takes root in the town planning practices of the Soviet era and presumes the growth of residential construction through building so called ‘micro districts’ (residential communities) in the green field, standard issue architectural solutions, high rise residential buildings. The second approach, which is recognized by European specialists, advocates the creation of a compact city with high population density and developed public transport. The author argues that only a compact city can be successful and full of life.
Key words: city planning, town planning, compact city, public transport.

Oleg Chirkunov, Cand. Sci. (Econ.), Governor of Perm Region
(14, Kuibysheva ul., Perm, 614006, Russian Federation)


Analytics and Forecast

Vladimir MOISEEV
Corruption Fighting
The article is devoted to the topical theme - the fight against corruption. The author analyzes the conditions in which corruption flourished, numerous examples of embezzlement, kickbacks, bribery and other corruption among Russian officials. On these and other examples the danger of corruption for public relations, its harmness to the implementation of reforms aimed at modernizing the economy and social sphere. The author regrets that the fight against corruption does not yield significant results in Russia, and points to the obvious ways to activate it.
Key words: corruption, vzyatochnichestvo, modernization of the economy, social sphere.

Vladimir Moiseev, Dr. Sci. (History), professor, Tula branch of Orel Regional Academy of Civil Service
(28, prosp. Lenina , Tula, 300012, Russian Federation).
Evaluation of Ad Valorem Equivalents of Non-tariff Measures to Regulate Foreign Trade
of the Russian Federation
This study is devoted to the analysis of factors that affect the elasticity of import to the non-tariff measures (NTM) for Russian Federation in 1997-2007. Carrying out the detailed research allows to estimate the influence of nontariff restrictions. The results show that non-tariff measures have valuable effect on import demand. Also ad valorem equivalents of the NTMs are calculated, i.e. for each 4-digit commodity group it is estimated the value of tariff rate that would cause the equivalent to non-tariff measure import reduction. The author also arranged the database of NTM trade regulation in Russia in 1997-2007 which can be used for the further detailed estimations of qualitative consequences of NTM practice.
Key words: foreign trade, import, non-tariff restrictions.

Vittoria Idrisova, research fellow, Gaidar Institute for Economic Policy
(5, Gazetny per., Moscow, 125993, Russian Federation).

Classics of Economics

Ethics, Economic Advice, and Economic Policy
In his article, the author raises the topic that was almost forgotten by modern economists — the relationship between liberal freedoms and ethical principles in the world economy. The author explicitly­ identifies five ethical principles: honesty, fairness, social justice (including care for the poor), externalities­ and responsibilities which must be a guide to an economic adviser. Then, he consistently analyses them in different areas of international economics: debt, credit, trade policies of developed countries, environmental protection and especially crises of economic development.
Key words: ethics, ethical principles, economic policy.

Joseph Eugene Stiglitz, an american economist.

Tendencies and Perspectives

Thorny Path Out of The Crisis: The Russian Economy In 2010
This article contains the analysis of the main particularities and contradictions of the Russian economic development in 2010. In spite of the positive dynamics of some indicators the crisis has not been overcame yet. Among the main negative factors and risks there are investment stagnation, the luck of the confidence in the future of the economic subjects, high inflation, the prevail of the capital outflow, the low level of the direct external investments, revival of the tendency of the private external debt rise, the high budget obligations and budget deficit which rises the vulnerability for the external shocks, the bad investment climate. The change of the previous considerable prevailing consumer demand rise upon GDP rise is positive. The external risks depend on the world economy development were also examined. The phenomenon of stagnations overcoming and reliability the future development depends on the new quality of the economic policy achieving with the main priorities the inflation decrease, the responsible budget policy with excluding of populism, the system of reforms which opens the opportunity to achieve the investment climate corresponding the average level of the developed economies.
Key words: Russian economy, crisis, direct external investments, consumer demand, inflation.

Victor Starodubrovsky, Dr. Sci. (Econ.), professor, Gaidar Institute for Economic Policy
(5, Gazetny per., Moscow, 125993, Russian Federation).

The 10th Annual Conference «Leontieff Readings»

Economic Thought: The Diversity of Concepts and Spheres of Appliance
(The Paper is Devoted to the Proceedings of the 10th Conference “Leontieff Readings”)
Andrey Zaostrovtsev, Cand. Sci. (Econ.), International Centre for Social and Economic Research — Leontief Centre
(25, 7th Krasnoarmeyskaya Street, St.Petersburg, 190005, Russian Federation).