Pub Date : 2024-04-05DOI: 10.29141/2658-5081-2024-25-1-4
Veniamin Mokhov, V. Pluzhnikov
Current turbulence of external environment pushes the research towards exploring municipalities’ economic development. The purpose of the work is to devise a method for assessing the factors behind economic development of an industrial metropolis based on the construction of a production function. Theoretical propositions of macroeconomics and systems analysis constitute the methodological basis of the research. The main method is the construction of the Cobb–Douglas production function given autonomous Hicks-neutral technical change. The evidence is the data of the Federal State Statistics Service’s regional office of Chelyabinsk Region on the production output (volume of own production (works, service) shipped), cost of production assets, and payroll in the city of Chelyabinsk for 2014–2021, as well as price deflators. The model is formalised in the form of a computer program and is registered by the state, which reflects its practical value. The theoretical and methodological significance of the research consists in that for the first time in economic practice it demonstrates that individual elasticity coefficients can take negative values. The findings of the study can be used for forecasting the results of the interventions aimed at increasing the economic sustainability of an industrial metropolis.
{"title":"Modelling economic development of an industrial metropolis","authors":"Veniamin Mokhov, V. Pluzhnikov","doi":"10.29141/2658-5081-2024-25-1-4","DOIUrl":"https://doi.org/10.29141/2658-5081-2024-25-1-4","url":null,"abstract":"Current turbulence of external environment pushes the research towards exploring municipalities’ economic development. The purpose of the work is to devise a method for assessing the factors behind economic development of an industrial metropolis based on the construction of a production function. Theoretical propositions of macroeconomics and systems analysis constitute the methodological basis of the research. The main method is the construction of the Cobb–Douglas production function given autonomous Hicks-neutral technical change. The evidence is the data of the Federal State Statistics Service’s regional office of Chelyabinsk Region on the production output (volume of own production (works, service) shipped), cost of production assets, and payroll in the city of Chelyabinsk for 2014–2021, as well as price deflators. The model is formalised in the form of a computer program and is registered by the state, which reflects its practical value. The theoretical and methodological significance of the research consists in that for the first time in economic practice it demonstrates that individual elasticity coefficients can take negative values. The findings of the study can be used for forecasting the results of the interventions aimed at increasing the economic sustainability of an industrial metropolis.","PeriodicalId":33954,"journal":{"name":"Journal of New Economy","volume":"40 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140735857","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-05DOI: 10.29141/2658-5081-2024-25-1-5
L. Mochalova, Olga Eremeeva, V. Podkorytov
The arrival of the new phenomenon “industrial ecosystem” to the field of production organisation makes investigating it particularly relevant. The paper focuses on describing its essence, indispensable structural elements, as well as delves into the practical significance allowing for the trends in Russia’s technological and ecological development. Methodologically, the paper is based on the concepts of industrial revolution, circular and digital economies. Methods of desk research and systematisation are used. According to the findings, the concept “industrial ecosystem” appeared within industrial ecology and represents a kind of a business ecosystem. In Kleiner’s systems concept, this type of ecosystem is considered as a total of an industrial cluster, a platform, a network, and an incubator. Comparative analysis of various forms of production organisation allows identifying industrial cluster as the most appropriate basis of the ecosystem. It is proved that the digital platform, the communication and logistics network, and the business incubator (technology park) are important for ensuring efficient operation of an industrial cluster. The paper validates the treatment of industrial ecosystems as a transitional form between natural (biological) and non-natural (business) ecosystems. The goal orientation of industrial ecosystem is handling both socioeconomic and environmental problems due to setting up closed-loop industrial cycles. The paper presents an original scheme of an ecosystem taking into account the principles of circular economy: industrial enterprise – circular industrial cluster – industrial ecosystem.
{"title":"Circular economy ideas in the practice of industrial ecosystems in Russia","authors":"L. Mochalova, Olga Eremeeva, V. Podkorytov","doi":"10.29141/2658-5081-2024-25-1-5","DOIUrl":"https://doi.org/10.29141/2658-5081-2024-25-1-5","url":null,"abstract":"The arrival of the new phenomenon “industrial ecosystem” to the field of production organisation makes investigating it particularly relevant. The paper focuses on describing its essence, indispensable structural elements, as well as delves into the practical significance allowing for the trends in Russia’s technological and ecological development. Methodologically, the paper is based on the concepts of industrial revolution, circular and digital economies. Methods of desk research and systematisation are used. According to the findings, the concept “industrial ecosystem” appeared within industrial ecology and represents a kind of a business ecosystem. In Kleiner’s systems concept, this type of ecosystem is considered as a total of an industrial cluster, a platform, a network, and an incubator. Comparative analysis of various forms of production organisation allows identifying industrial cluster as the most appropriate basis of the ecosystem. It is proved that the digital platform, the communication and logistics network, and the business incubator (technology park) are important for ensuring efficient operation of an industrial cluster. The paper validates the treatment of industrial ecosystems as a transitional form between natural (biological) and non-natural (business) ecosystems. The goal orientation of industrial ecosystem is handling both socioeconomic and environmental problems due to setting up closed-loop industrial cycles. The paper presents an original scheme of an ecosystem taking into account the principles of circular economy: industrial enterprise – circular industrial cluster – industrial ecosystem.","PeriodicalId":33954,"journal":{"name":"Journal of New Economy","volume":"35 S1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140740076","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-05DOI: 10.29141/2658-5081-2024-25-1-3
Marina V. Ryzhkova, E. Kashapova
Pyramid schemes are adapting to the digitalisation era and mimicking various organisations. The organisers of these schemes quite often appeal to such human qualities as greed and the desire to get rich quickly. Thus, it is becoming increasingly relevant to develop new methods for countering pyramid schemes taking into account modern realities and behavioural characteristics of an individual decisionmaker. The focus of the research is on selecting sludge tools to fight against digital pyramid schemes. Methodologically, the study relies on the concepts of behavioural economics, in particular, of the nudge theory (nudges vs sludges). The methods include brainstorming, focus groups. The evidence comes from primary qualitative research, in-depth interviews with both non-professional investors and experts in the field of financial market held in 2022. The analysis allowed defining the concept of sludge and present the types of sludge tools. The paper provides an original list of sludge tools as well as a set of practical tools to counter pyramid schemes, which, in particular, consists of legal restrictions, monitoring of Ponzi schemes’ activities, financial enlightenment, a legal information system, self-coordination of investors, and an individual approach. The paper concludes that sludge tools differ in terms of the length of impact and the speed of obtaining a result. Short-term sludges generate a fast effect and prevent from investing in pyramid schemes without preliminary preparation of participants; they, for instance, include placing a poster with a warning against Ponzi schemes, ensuring a careful reading of the contract, mandatory familiarisation with the List of entities with detected signs of illegal activities in the financial market created by the Bank of Russia, taking a risk test for assessing the probability of a decreased price or lost asset, ensuring advice of a financial counsellor as an obligatory stage of investment. The findings contribute to the understanding of the need for proactive (preventive) measures’ development aimed at countering fraudulent schemes.
{"title":"Sludges against Ponzi schemes","authors":"Marina V. Ryzhkova, E. Kashapova","doi":"10.29141/2658-5081-2024-25-1-3","DOIUrl":"https://doi.org/10.29141/2658-5081-2024-25-1-3","url":null,"abstract":"Pyramid schemes are adapting to the digitalisation era and mimicking various organisations. The organisers of these schemes quite often appeal to such human qualities as greed and the desire to get rich quickly. Thus, it is becoming increasingly relevant to develop new methods for countering pyramid schemes taking into account modern realities and behavioural characteristics of an individual decisionmaker. The focus of the research is on selecting sludge tools to fight against digital pyramid schemes. Methodologically, the study relies on the concepts of behavioural economics, in particular, of the nudge theory (nudges vs sludges). The methods include brainstorming, focus groups. The evidence comes from primary qualitative research, in-depth interviews with both non-professional investors and experts in the field of financial market held in 2022. The analysis allowed defining the concept of sludge and present the types of sludge tools. The paper provides an original list of sludge tools as well as a set of practical tools to counter pyramid schemes, which, in particular, consists of legal restrictions, monitoring of Ponzi schemes’ activities, financial enlightenment, a legal information system, self-coordination of investors, and an individual approach. The paper concludes that sludge tools differ in terms of the length of impact and the speed of obtaining a result. Short-term sludges generate a fast effect and prevent from investing in pyramid schemes without preliminary preparation of participants; they, for instance, include placing a poster with a warning against Ponzi schemes, ensuring a careful reading of the contract, mandatory familiarisation with the List of entities with detected signs of illegal activities in the financial market created by the Bank of Russia, taking a risk test for assessing the probability of a decreased price or lost asset, ensuring advice of a financial counsellor as an obligatory stage of investment. The findings contribute to the understanding of the need for proactive (preventive) measures’ development aimed at countering fraudulent schemes.","PeriodicalId":33954,"journal":{"name":"Journal of New Economy","volume":"5 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140735753","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-05DOI: 10.29141/2658-5081-2024-25-1-2
Melek Çil, Y. Guzey
Technology has profound effects on labour market dynamics. Numerous studies have highlighted the unique opportunities and challenges that technological change presents to specific demographic groups. The aim of the study is to examine the long-term impact of technological changes within organisations on female unemployment at a macro level. From the perspective of the contingency approach and economic growth theories, the research conducts a panel cointegration analysis employing CCE-MG and AMG long-term panel cointegration estimators. The data on the female unemployment rate, the percentage of R&D expenditure in GDP and the ICT patents in total patents in the G7 countries for 1985–2020 is sourced from the OECD statistics. The analysis indicates the presence of an effect of technological change on the female unemployment rate as well as the national variations in their relationship. In particular, in three countries out of seven (Germany, the UK, the USA), there is the relationship between technological advancements and female unemployment. For the most part, increases in the percentage of R&D expenditure and ICT patents augment the female unemployment, though in Germany a rise in R&D expenditure leads to a decrease in it. The results will contribute to understanding the impact of technology-driven changes in organisations on gender-based labour inequality. The research highlights the complexity of the impact of technological advancements on the female employment and underscores the need for shaping related government policies by considering each country’s specific conditions.
技术对劳动力市场动态有着深远的影响。许多研究都强调了技术变革给特定人口群体带来的独特机遇和挑战。本研究旨在从宏观层面研究组织内部技术变革对女性失业的长期影响。从权变方法和经济增长理论的角度出发，研究采用 CCE-MG 和 AMG 长期面板协整估计器进行面板协整分析。1985-2020 年 G7 国家的女性失业率、研发支出占 GDP 的百分比以及信息和通信技术专利占专利总数的数据均来自经合组织的统计数据。分析表明，技术变革对女性失业率有影响，而且两者之间的关系存在国家差异。特别是在七个国家中的三个国家（德国、英国和美国），技术进步与女性失业率之间存在关系。在大多数情况下，研发支出和信息与通信技术专利比例的增加会增加女性失业率，但在德国，研发支出的增加会导致女性失业率的下降。研究结果将有助于理解技术驱动的组织变革对基于性别的劳动力不平等的影响。研究强调了技术进步对女性就业影响的复杂性，并强调了根据各国具体情况制定相关政府政策的必要性。
{"title":"Technology and gender: Understanding the changing dynamics of female unemployment in the G7 countries","authors":"Melek Çil, Y. Guzey","doi":"10.29141/2658-5081-2024-25-1-2","DOIUrl":"https://doi.org/10.29141/2658-5081-2024-25-1-2","url":null,"abstract":"Technology has profound effects on labour market dynamics. Numerous studies have highlighted the unique opportunities and challenges that technological change presents to specific demographic groups. The aim of the study is to examine the long-term impact of technological changes within organisations on female unemployment at a macro level. From the perspective of the contingency approach and economic growth theories, the research conducts a panel cointegration analysis employing CCE-MG and AMG long-term panel cointegration estimators. The data on the female unemployment rate, the percentage of R&D expenditure in GDP and the ICT patents in total patents in the G7 countries for 1985–2020 is sourced from the OECD statistics. The analysis indicates the presence of an effect of technological change on the female unemployment rate as well as the national variations in their relationship. In particular, in three countries out of seven (Germany, the UK, the USA), there is the relationship between technological advancements and female unemployment. For the most part, increases in the percentage of R&D expenditure and ICT patents augment the female unemployment, though in Germany a rise in R&D expenditure leads to a decrease in it. The results will contribute to understanding the impact of technology-driven changes in organisations on gender-based labour inequality. The research highlights the complexity of the impact of technological advancements on the female employment and underscores the need for shaping related government policies by considering each country’s specific conditions.","PeriodicalId":33954,"journal":{"name":"Journal of New Economy","volume":"13 7","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140738068","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-01-12DOI: 10.29141/2658-5081-2023-24-4-7
A. Korikov, Konstantin Yurchenko
In recent decades, central banks of an increasing number of countries have been using the inflation targeting regime in their monetary policy, since it has proven to be an effective tool for balancing economic growth and inflation. In countries with the regional heterogeneity, local manifestations of inflation may differ significantly, which entails a shift in inflation expectations and their unequal impact on actual dynamics of prices in the future. The article explores the determinants of inflation expectations in Ural regions of Russia. The methodological basis of the study includes monetary concepts developed primarily within the framework of the new Keynesian theory and linking monetary policy with the assessments of inflation expectations. The study uses methods of statistical processing of the data collected during two rounds of monitoring of the population’s inflation expectations. The evidence of the study comes from the surveys conducted on a sample of 2,976 respondents. The study reveals regional, social and allocative heterogeneity in the perception of dynamics of prices and the formation of inflationary expectations. The results of the study contribute to understanding the nature of inflation expectations using the case of the Urals population and can become a basis for developing targeted communication measures aimed at bringing inflation closer to the target.
{"title":"Inflation expectations and consumer sentiments of the Urals population","authors":"A. Korikov, Konstantin Yurchenko","doi":"10.29141/2658-5081-2023-24-4-7","DOIUrl":"https://doi.org/10.29141/2658-5081-2023-24-4-7","url":null,"abstract":"In recent decades, central banks of an increasing number of countries have been using the inflation targeting regime in their monetary policy, since it has proven to be an effective tool for balancing economic growth and inflation. In countries with the regional heterogeneity, local manifestations of inflation may differ significantly, which entails a shift in inflation expectations and their unequal impact on actual dynamics of prices in the future. The article explores the determinants of inflation expectations in Ural regions of Russia. The methodological basis of the study includes monetary concepts developed primarily within the framework of the new Keynesian theory and linking monetary policy with the assessments of inflation expectations. The study uses methods of statistical processing of the data collected during two rounds of monitoring of the population’s inflation expectations. The evidence of the study comes from the surveys conducted on a sample of 2,976 respondents. The study reveals regional, social and allocative heterogeneity in the perception of dynamics of prices and the formation of inflationary expectations. The results of the study contribute to understanding the nature of inflation expectations using the case of the Urals population and can become a basis for developing targeted communication measures aimed at bringing inflation closer to the target.","PeriodicalId":33954,"journal":{"name":"Journal of New Economy","volume":" 25","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139624056","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-01-12DOI: 10.29141/2658-5081-2023-24-4-5
Svetlana Galazova
Digital ecosystems allow banks to expand their offerings of financial and non-financial services, and thereby raise the quality and speed of customer service. Yet the broader range of banks’ non-financial services increases the size of their non-core assets and affects their financial stability. This creates certain complexities to ecosystems’ management both at the level of a bank and at the level of financial market regulation. The study covers theoretical and practical aspects of setting up and developing ecosystems in the Russian banking industry. The theory of industrial organisation and the ecosystem concept constitute the methodological basis of the research. The study adopts comparative and structural analysis methods. The evidence comes from public and internal reporting of PAO Sberbank, AO Tinkoff Bank, VTB Bank (PAO). The research found that banking ecosystems differ in the key area of activities (for instance, the Tinkoff Bank’s ecosystem focuses on investment and education, whereas VTB Bank’s one concentrates on a housing programme), nature of interaction between their participants, and the method of creation (universal, niche, outsourcing, insourcing). The development specifics of digital banking ecosystems depend on their specialisation, structure of immobilised assets, customer base, and level of business processes’ digitalisation. The value of the research comes from the revealed structural and functional peculiarities of digital ecosystems in the banking industry, as well as in the proved necessity to further refine the methods for accounting and assessing immobilised assets of banks.
数字生态系统使银行能够扩大金融和非金融服务，从而提高客户服务的质量和速度。然而，银行非金融服务范围的扩大会增加其非核心资产的规模，并影响其财务稳定性。这在银行层面和金融市场监管层面都给生态系统的管理带来了一定的复杂性。本研究涵盖了在俄罗斯银行业建立和发展生态系统的理论和实践方面。产业组织理论和生态系统概念构成了研究的方法论基础。研究采用了比较分析和结构分析方法。证据来自 PAO Sberbank、AO Tinkoff Bank 和 VTB Bank (PAO) 的公开和内部报告。研究发现，银行生态系统在主要活动领域（例如，Tinkoff 银行的生态系统侧重于投资和教育，而 VTB 银行的生态系统侧重于住房计划）、参与者之间的互动性质以及创建方法（通用、利基、外包、内包）方面存在差异。数字银行生态系统的发展特点取决于其专业化程度、固定资产结构、客户群和业务流程的数字化水平。研究的价值在于揭示了银行业数字生态系统在结构和功能上的特殊性，以及进一步完善银行固定资产核算和评估方法的必要性。
{"title":"Digital banking ecosystems: Comparative analysis and competition regulation in Russia","authors":"Svetlana Galazova","doi":"10.29141/2658-5081-2023-24-4-5","DOIUrl":"https://doi.org/10.29141/2658-5081-2023-24-4-5","url":null,"abstract":"Digital ecosystems allow banks to expand their offerings of financial and non-financial services, and thereby raise the quality and speed of customer service. Yet the broader range of banks’ non-financial services increases the size of their non-core assets and affects their financial stability. This creates certain complexities to ecosystems’ management both at the level of a bank and at the level of financial market regulation. The study covers theoretical and practical aspects of setting up and developing ecosystems in the Russian banking industry. The theory of industrial organisation and the ecosystem concept constitute the methodological basis of the research. The study adopts comparative and structural analysis methods. The evidence comes from public and internal reporting of PAO Sberbank, AO Tinkoff Bank, VTB Bank (PAO). The research found that banking ecosystems differ in the key area of activities (for instance, the Tinkoff Bank’s ecosystem focuses on investment and education, whereas VTB Bank’s one concentrates on a housing programme), nature of interaction between their participants, and the method of creation (universal, niche, outsourcing, insourcing). The development specifics of digital banking ecosystems depend on their specialisation, structure of immobilised assets, customer base, and level of business processes’ digitalisation. The value of the research comes from the revealed structural and functional peculiarities of digital ecosystems in the banking industry, as well as in the proved necessity to further refine the methods for accounting and assessing immobilised assets of banks.","PeriodicalId":33954,"journal":{"name":"Journal of New Economy","volume":" 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139624658","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-01-12DOI: 10.29141/2658-5081-2023-24-4-3
M. Kakaulina, Nikita Kazansky
In the last decade, assessing the tax expenditures’ economic efficiency has grown in importance due to the increasing number of situations where stakeholders use tax benefits for personal enrichment. The problem is aggravated by the very nature of tax expenditures, which represent budget revenue losses. The expediency of tax expenditures can be proved by estimating their impact on economic growth. The paper aims to measure such impact using the case of the USA. Methodologically, the study relies on Barro’s conception of endogenous growth. The study applies econometric methods of analysis. The data for the study is taken from the Global Tax Expenditures Database (GTED), the U.S. Department of the Treasury, the U.S. Bureau of Economic Analysis, and the U.S. Census Bureau for 1998–2022. The results indicate no correlation between the share of tax expenditures in a specific sphere in the total amount and their efficiency (the strength of the positive impact on GDP). For instance, the tax expenditures in commerce and housing have the greatest share (35.4 %), yet their impact is relatively weak compared to other categories of tax expenditures: 1 dollar of expenditures induces a 0.04 dollar increase in GDP. At the same time, tax expenditures in the social sphere with an insubstantial share of 2 % generate a 10 times higher return (a 0.49 dollar increase in GDP per 1 dollar of expenditures). Therefore, the structure of tax expenditures with an explicit social orientation appears to be the most preferable for the USA.
{"title":"The impact of tax expenditures on economic growth: The US experience","authors":"M. Kakaulina, Nikita Kazansky","doi":"10.29141/2658-5081-2023-24-4-3","DOIUrl":"https://doi.org/10.29141/2658-5081-2023-24-4-3","url":null,"abstract":"In the last decade, assessing the tax expenditures’ economic efficiency has grown in importance due to the increasing number of situations where stakeholders use tax benefits for personal enrichment. The problem is aggravated by the very nature of tax expenditures, which represent budget revenue losses. The expediency of tax expenditures can be proved by estimating their impact on economic growth. The paper aims to measure such impact using the case of the USA. Methodologically, the study relies on Barro’s conception of endogenous growth. The study applies econometric methods of analysis. The data for the study is taken from the Global Tax Expenditures Database (GTED), the U.S. Department of the Treasury, the U.S. Bureau of Economic Analysis, and the U.S. Census Bureau for 1998–2022. The results indicate no correlation between the share of tax expenditures in a specific sphere in the total amount and their efficiency (the strength of the positive impact on GDP). For instance, the tax expenditures in commerce and housing have the greatest share (35.4 %), yet their impact is relatively weak compared to other categories of tax expenditures: 1 dollar of expenditures induces a 0.04 dollar increase in GDP. At the same time, tax expenditures in the social sphere with an insubstantial share of 2 % generate a 10 times higher return (a 0.49 dollar increase in GDP per 1 dollar of expenditures). Therefore, the structure of tax expenditures with an explicit social orientation appears to be the most preferable for the USA.","PeriodicalId":33954,"journal":{"name":"Journal of New Economy","volume":" 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139624683","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-01-12DOI: 10.29141/2658-5081-2023-24-4-6
E. Dvoryadkina, E. Belousova
Mostly center–periphery model of territorial development, long-standing domination of transfers in the structure of municipal budget revenues have formed the protracted, chronic nature of the socioeconomic problems. This necessitates refining goals, principles and content of municipal government, especially in the economic sphere. The paper aims to revise the propositions of the theories of local self-government against the backdrop of the emerging concept of well-being economy, which together constitute the methodological basis of the research. The study applies a suite of general scientific methods, including retrospective analysis and systematisation. Based on the review of pre-revolutionary works of Russian scientists and essayists for 1870–1917 devoted to zemstvo and town and city self-government, the paper deduces an image of well-being of a territory under local government. In particular, its well-being presupposes providing local internal and external amenities, care for food security, health, education, safety from various threats (fires, diseases, crime); organising the economic life of a territory through the municipalisation of socially important industries and services, generation of employment, as well as stimulation of economic activity through cooperation and issuing loans. Having compared the narratives of the well-being economy concept and the propositions of the theories of local self-government, the paper demonstrates that this concept can be implemented by means of local self-government, since their theoretical bases correspond to each other. The study concludes that there is a need to realise the potential of the local government system laid down by Alexander II, emperor of Russia. This requires making the interaction between residents and local government closer, disseminating knowledge about municipal government, and providing greater financial opportunities to local authorities so that they could concentrate on addressing local problems and expressing residents’ interests.
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Pub Date : 2024-01-12DOI: 10.29141/2658-5081-2023-24-4-4
Maria Konovalova, Oksana Plyusnina, Elena Fedotova
The COVID-19 pandemic has largely undermined most economies in the world. To a significant extent the reasons behind this economic nosedive are rooted in the sphere of labour market. The imposed restriction measures made many workers stay at home, and part of them even lost their jobs. The speed of economic recovery in different countries varied depending on how quarantine restrictions were eased. One crucial factor in this process is labour market flexibility and its ability to adapt to changing economic conditions. The purpose of the paper is to explore the relationship between the labour market flexibility and the speed of GDP recovery when the pandemic was waning and the quarantine restrictions were being removed. Methodologically, the study relies on labour economics. The methods are multivariate and logistic regression analysis. The data for the study is sourced from the World Bank and Eurostat and comprises statistics for assessing labour market flexibility and GDP in various countries for 2020–2021. The findings indicate a reverse relationship between the speed of GDP growth recovery during the post-COVID period and the share of part-time employment. Yet taking into account that part-time employment is not only an indicator of the labour market flexibility, but also reflects a general slowdown in production and unemployment, we can attach low speed of recovery to a greater weakness of an economy. The obtained results are insufficient to reject the hypothesis that a more flexible labour market accelerates the recovery of a national economy. At the same time, the study demonstrates that the West European countries generally got over the consequences of the COVID-19 crisis faster than other EU countries. The research contributes to understanding the transformation processes in the labour market under the pandemic as well as provides support for labour market policy development and implementation.
COVID-19 大流行在很大程度上破坏了世界上大多数国家的经济。在很大程度上，经济衰退的根源在于劳动力市场。强加的限制措施使许多工人待在家里，部分人甚至失去了工作。不同国家的经济复苏速度各不相同，取决于放松检疫限制的方式。这一过程中的一个关键因素是劳动力市场的灵活性及其适应不断变化的经济条件的能力。本文旨在探讨在疫情减弱、检疫限制取消时，劳动力市场灵活性与国内生产总值复苏速度之间的关系。在方法上，研究依赖于劳动经济学。方法是多元回归分析和逻辑回归分析。研究数据来自世界银行和欧盟统计局，包括评估 2020-2021 年各国劳动力市场灵活性和国内生产总值的统计数据。研究结果表明，COVID 后时期的 GDP 增长恢复速度与兼职就业比例之间存在反向关系。然而，考虑到兼职就业不仅是劳动力市场灵活性的指标，也反映了生产和失业的普遍放缓，我们可以将复苏速度低归因于经济更加疲软。所得结果不足以否定劳动力市场更加灵活会加速国民经济复苏的假设。同时，研究表明，西欧国家普遍比其他欧盟国家更快地摆脱了 COVID-19 危机的影响。这项研究有助于了解大流行病下劳动力市场的转型过程，并为劳动力市场政策的制定和实施提供支持。
{"title":"Labour market flexibility as a factor in economic recovery after the COVID-19 pandemic","authors":"Maria Konovalova, Oksana Plyusnina, Elena Fedotova","doi":"10.29141/2658-5081-2023-24-4-4","DOIUrl":"https://doi.org/10.29141/2658-5081-2023-24-4-4","url":null,"abstract":"The COVID-19 pandemic has largely undermined most economies in the world. To a significant extent the reasons behind this economic nosedive are rooted in the sphere of labour market. The imposed restriction measures made many workers stay at home, and part of them even lost their jobs. The speed of economic recovery in different countries varied depending on how quarantine restrictions were eased. One crucial factor in this process is labour market flexibility and its ability to adapt to changing economic conditions. The purpose of the paper is to explore the relationship between the labour market flexibility and the speed of GDP recovery when the pandemic was waning and the quarantine restrictions were being removed. Methodologically, the study relies on labour economics. The methods are multivariate and logistic regression analysis. The data for the study is sourced from the World Bank and Eurostat and comprises statistics for assessing labour market flexibility and GDP in various countries for 2020–2021. The findings indicate a reverse relationship between the speed of GDP growth recovery during the post-COVID period and the share of part-time employment. Yet taking into account that part-time employment is not only an indicator of the labour market flexibility, but also reflects a general slowdown in production and unemployment, we can attach low speed of recovery to a greater weakness of an economy. The obtained results are insufficient to reject the hypothesis that a more flexible labour market accelerates the recovery of a national economy. At the same time, the study demonstrates that the West European countries generally got over the consequences of the COVID-19 crisis faster than other EU countries. The research contributes to understanding the transformation processes in the labour market under the pandemic as well as provides support for labour market policy development and implementation.","PeriodicalId":33954,"journal":{"name":"Journal of New Economy","volume":" 21","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139624022","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-01-12DOI: 10.29141/2658-5081-2023-24-4-2
V. Volchik, E. Fursa
Comparing recommendations coming from the theoretical research on economic modeling of the national innovation system with suggestions based on the narrative analysis of actors from the Russian innovation system (RIS) may help design a strategy for the regulation of innovative development. The study aims to produce recommendations for the state innovation policy by examining actors’ perceptions. Narrative economics combined with elements of original institutionalism constitutes the methodological basis of the research. The paper uses qualitative methods of narrative analysis. The evidence base is narratives of the RIS actors contained in rating and specialised Russian media and Internet resources, as well as in 27 in-depth interviews, selected during the online expert sampling. According to the study’s findings, the RIS actors note a significant role of the state in the development of innovation in the narratives, but at the same time point to such problems as inconsistency of government actions, instability of innovation policy, lack of effective mechanisms for increasing financing of innovation projects. Respondents attach particular importance to business involvement in innovation, creation and promotion of entrepreneurial initiative, expansion of economic freedom. The results of the study allow identifying the most critical factors in and methods for boosting activity in the national innovation system.
{"title":"Russian innovation system: Narratives and economic policy","authors":"V. Volchik, E. Fursa","doi":"10.29141/2658-5081-2023-24-4-2","DOIUrl":"https://doi.org/10.29141/2658-5081-2023-24-4-2","url":null,"abstract":"Comparing recommendations coming from the theoretical research on economic modeling of the national innovation system with suggestions based on the narrative analysis of actors from the Russian innovation system (RIS) may help design a strategy for the regulation of innovative development. The study aims to produce recommendations for the state innovation policy by examining actors’ perceptions. Narrative economics combined with elements of original institutionalism constitutes the methodological basis of the research. The paper uses qualitative methods of narrative analysis. The evidence base is narratives of the RIS actors contained in rating and specialised Russian media and Internet resources, as well as in 27 in-depth interviews, selected during the online expert sampling. According to the study’s findings, the RIS actors note a significant role of the state in the development of innovation in the narratives, but at the same time point to such problems as inconsistency of government actions, instability of innovation policy, lack of effective mechanisms for increasing financing of innovation projects. Respondents attach particular importance to business involvement in innovation, creation and promotion of entrepreneurial initiative, expansion of economic freedom. The results of the study allow identifying the most critical factors in and methods for boosting activity in the national innovation system.","PeriodicalId":33954,"journal":{"name":"Journal of New Economy","volume":" 42","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139625172","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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