Coherence of Russian Economic System: Econometric Assessments

2015 ◽  
Vol 3 (2) ◽  
pp. 21-23
Author(s):  
Басовская ◽  
Elena Basovskaya
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Economic System ◽  
Growth Rates ◽  
Economic Systems ◽  
Degree Of Coherence ◽  
Federal Districts ◽  
Economic Growth Rates ◽  
Sustainable Economic Growth ◽  
Correlative Relationship

The paper examines the degree of coherence of the country’s economic system through assessment of correlation between economic growth rates of regions. The author highlights the high changeability of Russia’s economic system, considered as the total sum of elements, constituted by economic systems of federal districts and economic systems of regions. Correlative relationship between economic growth rates of this system’s elements can vary in the range from positive to negative. During the periods of sustainable economic growth the degree of this system’s coherence tends to reduce sharply. High levels of coherence are typical only for crisis periods in economic development.

Sustainability of Economic Development of the Urals Regions

10.12737/5223 ◽  
2014 ◽  
Vol 2 (3) ◽  
pp. 15-21
Author(s):  
Басовская ◽  
Elena Basovskaya
Keyword(s):  
Economic Growth ◽  
Adverse Effect ◽  
Economic Development ◽  
Correlation Analysis ◽  
Growth Rates ◽  
Regional Economy ◽  
Federal District ◽  
The Urals ◽  
System Sustainability ◽  
Economic Growth Rates

The new technique designed to assess sustainability of economic development of regions is based on applying diagnostics of system sustainability failure. Degree of sustainability is assessed by dispersion of economic growth rates. Risks of instability in economic development dynamics is assessed by an index, reflecting relative variations in economic growth rates. The author examines economic development dynamics of Ural Federal District as a whole and also of Kurgan, Sverdlovsk, Tyumen and Chelyabinsk regions, based on data for the period of 2000–2012. As is found out, the said regions differ in terms of periods of sustainable and unstable development and degrees of economic growth instability. It is also found, that Tyumen and Sverdlovsk regions are more stable in term of economic development than Kurgan and Chelyabinsk regions. As for economic development of Ural Federal District as a whole, it is comparable in terms of sustainability with that of the national economy. As correlation analysis shows, indicators of unstable economic development affect substantially the level of investments in regional economy. Economic growth instability has an adverse effect on the level of investments in regional economy.

scholarly journals Economic Growth Patterns: Spatial Econometric Analysis for Russian Regions

Information ◽  
2020 ◽  
Vol 11 (6) ◽  
pp. 289
Author(s):  
Vladimir Balash ◽  
Olga Balash ◽  
Alexey Faizliev ◽  
Elena Chistopolskaya
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Spatial Autocorrelation ◽  
Growth Rates ◽  
Growth Patterns ◽  
Weight Matrix ◽  
Russian Regions ◽  
Spatial Econometric ◽  
Per Capita ◽  
Economic Growth Rates

In this article, we analyze the σ - and β -convergence, using the data of the socio-economic development of Russian areas, and discover the role of spatial autocorrelation in regional economic development. We are considering 80 areas of the Russian Federation for the period of 2010–2017. Moran coefficients were used to estimate spatial autocorrelation. We compare the Moran scatterplots for GDP per capita and GDP growth rates per capita in 2017 and in 2014. We study the impact on raising investment in leading capital and the costs of technological innovation. We evaluate a wide range of specifications of spatial econometric models for all kinds of weight matrices. We combine standard geographical proximity with specialization proximity to assess whether they are substitutes or additions to converging economic growth rates. The weight matrix of the neighborhood and specialization similarities are used. The weight matrix of specialization similarities of the regional economies is based on data on the structure of tax payments in 82 industries. The specialization structure of the region’s economy is related to its location. Clusters obtained by matrices of specialization proximity are well separable from each other in space. The connectivity within clusters and the boundaries between them become more apparent over time. It is shown that according to the results of estimation of conditional β -convergence models, the models of 2010–2014 and 2014–2017 differ significantly. There is a statistically significant β -convergence for the period 2010–2014. There is also the presence of spatial autocorrelation. Based on the results of valuation models constructed from data after 2014, it can be concluded that the coefficient estimates for the explanatory variables are not significantly different from zero, and accordingly there is no tendency towards regional convergence in terms of economic development. The results obtained in the work are stable for the proposed models and spatial weight matrices. Territorial proximity is a more important factor than the similarity of specialization for explanation the economic growth rates of Russian regions.

scholarly journals The Influence of Insurance Market on the Economic Development of Ukraine

2018 ◽  
Vol 1 (17) ◽  
pp. 37-47
Author(s):  
Liudmyla Rybalchenko
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Production Function ◽  
Growth Rates ◽  
Insurance Market ◽  
Level Of Economic Development ◽  
Economic Growth Rates ◽  
Insurance Development

The level of economic development and the economic growth rates in Ukraine are very uneven. On the basement of production function were analyzed the factors of economic development in Ukraine. The influence of the level of the insurance development on its economic growth was considered.

Social Capital as a Factor of Economic Growth in the Regions of Russia

2019 ◽  
Vol 14 (5) ◽  
pp. 124-149 ◽  
Keyword(s):  
Economic Growth ◽  
Social Capital ◽  
Economic Development ◽  
Growth Rates ◽  
Generalized Method Of Moments ◽  
Sociocultural Factors ◽  
Russian Regions ◽  
Least Squares Regression ◽  
Economic Growth Rates ◽  
The Impact

This paper examines the influence of sociocultural factors of economic growth on economic development of the Russian regions. The article analyses the influence of various forms of social capital according to James Coleman (norms of trust between individuals, horizontal ties, social norms and values) on economic growth rates of the Russian regions. The paper uses an augmented neoclassical model of economic growth to test the hypotheses about the impact of the initial social capital distribution on the subsequent GRP growth rates in 2007–2016. Particular attention is paid to the selection of relevant tools for measuring the level of social capital of the Russian regions. The empirical specifications of the proposed theoretical model of regional economic growth were evaluated using the two-stage least squares regression (2SLS); the robustness check was carried out using the system generalized method of moments (system GMM). The results of econometric analysis show that the initial spatial distribution of generalized trust does not have a statistically signifi cant effect on economic development. At the same time, the activity of lobbying groups (Olson groups) reduces the rate of economic growth in the regions of the Russian Federation. Increasing the level of civic cooperation (the willingness of citizens to unite to solve their own or social problems in the region) is associated with higher rates of economic development. For the selected study period, the economic signifi cance of sociocultural factors is marginal relative to the significance of the fundamental neoclassical growth factors. Unlocking the potential of sociocultural factors of economic growth may suggest activating the processes of structural transformation of the Russian economy by increasing the economic importance of the private sector and SME segment.

Sustainable Economic Development of the Russian Federation and Its Federal Districts

10.12737/5448 ◽  
2014 ◽  
Vol 2 (4) ◽  
pp. 18-24
Author(s):  
Басовская ◽  
Elena Basovskaya
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Russian Federation ◽  
North Caucasus ◽  
Russian Economy ◽  
Federal Districts ◽  
The Russian Federation ◽  
System Sustainability ◽  
Economic Growth Rates ◽  
Far Eastern

The technique for assessing sustainability of regional economic development based on applying diagnostics of system sustainability failure is used to explore dynamics of economic development of the Russian Federation and federal districts. The degree of development sustainability is assessed by dispersion of economic growth rates. The author’s findings reveal the increasing lack of sustainability in the development of the Russian economy as for the period of 2011–2013, which means that a new economic crisis may happen. Differences in the economic development of the federal districts in the period of 2008–2012 are observed. During the 2011–2012 period the Central, Northwest, Southern, North Caucasus, Volga, Urals and Siberian federal districts showed sustainable economic development. The economic development of the Far Eastern federal district showed the lack of sustainability and recessionary production decline.

The Problem of Factors that Determine the Economic Development of Modern Russia

2018 ◽  
pp. 37-41
Author(s):  
Елена Басовская ◽  
Elena Basovskaya ◽  
Леонид Басовский ◽  
Leonid Basovskiy
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Growth Rates ◽  
World Economy ◽  
Political Factors ◽  
The World ◽  
Before And After ◽  
Economic Growth Rates ◽  
The Impact ◽  
To Receive

In the economy of Russia after the crisis of 2008–2009 systemic changes were occurred. In the period before this crisis, Russia experienced economic growth, which was faster than the growth rate of the world economy, then after the crisis, economic growth rates do not exceed the growth rates of the world economy. To identify the reasons and factors for changing the model of economic development of the country, a project for researching the economy before and after the crisis of 2008–2009 is proposed. It is proposed to receive quantitative assessments of the impact of economic, socio-economic, political factors and other significant factors that determine productivity, differing by region of the country, by building econometric models of productivity in the form of expanded production functions.

scholarly journals FIVE-FOLD SYNERGY AS AN OPTIMAL INNOVATIVE MODEL

2021 ◽  
pp. 25-33
Author(s):  
Julia Yereshko
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Economic System ◽  
Multicomponent System ◽  
Modern World ◽  
Economic Systems ◽  
Endogenous Factors ◽  
Economic Agents ◽  
Innovative Model ◽  
The Impact

Introduction. The issue of understanding the patterns and factors of economic growth is reflected in the work of scientists, politicians, historians and publicists from antiquity to the present. The economic system is transforming, at the same time evolving partly randomly, and quantitative changes often precede qualitative ones. Systems of this type are characterized by the bifucarial nature of development, i.e. a change in the qualitative behaviour of such dynamic nonequilibrium systems with a slight alternative to their parameters, bifurcation points (transition or progress) of which are the economic crises, and the equilibrium state is only a certain moment in their movement and development. This nature of evolution is decisive for the whole set of complex multicomponent nonlinear systems, represented by a multiparameter set of dynamic systems of lower order, which include economic ones. However, this typology automatically means a logical problem of finding patterns of their movement and development, given the difficulty of predicting the reaction of this type of system to the impact and change of their parameters. The aim of the article is to substantiate the optimal innovative model of the economy based on the determination of a key factor of economic development. The methodological basis of the research is dialectical analysis, the method of studying the causality of phenomena, determinism in the study of systems, theoretical and logical generalizations and hypotheses. Results. The characterization of economic systems as complex, multicomponent and chaotic, i.e. those that can be deterministic and predictable only in theory, explains the stochastic nature of economic laws and the logical absence of a "universal" recipe for development, which proves the need to find endogenous factors. Based on the assumption of a unified nature of development and unevenness, it is determined that the core of innovative development in the modern world is the intellectualization of economic systems. The factor of unevenness and development, at the same time, in the modern sense, development innovative that is, is the intellectual capital, which produces an innovative flash, which with the appropriate working mechanism becomes the driving force of development. The study of development theories proves the need to endogenize the "Sollow residual", because the assumption of the exogenous nature of scientific and technological development, and hence economic growth, does not explain the root causes of the uneven development of individual economies, and therefore does not explain the key development factor. Naturally, the general trajectory of global development is set exogenously, at the same time, it begins with an endogenous innovation outbreak, which turns into an innovation flow and forms the technological base adopted by the rest of economic systems. The contradiction of the neoclassical paradigm and institutionalism is purely nominal, because the establishment of rules and directives by institutions can be based on "ratio" and convergence of economic agents – institutions, or their synergy can provide recursive directiveness to the system, the economic system as a whole, that is, and "irrational" rules will be organically calibrated as a result of this interaction, at the same time, the presence of rules will give the chaotic multicomponent system some additional determinism. Thus, a five-fold synergy is proposed as an innovative model of economic development, which takes into account the whole set of interactions between economic agents in their joint development and conflict, determining the optimal trajectory of overall sustainable economic growth.

scholarly journals Klassen Typology and Williamson Index to Measure Macroeconomics in South Sulawesi Province

2021 ◽  
Vol 1 (1) ◽  
pp. 37-49
Author(s):  
E. Elpisah ◽  
S. Suarlin ◽  
Muhammad Yahya
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Logistic Regression ◽  
Income Inequality ◽  
Growth Rates ◽  
Secondary Data ◽  
Income Disparity ◽  
South Sulawesi ◽  
Economic Growth Rates

This study was conducted to analyze the classification of economic growth of each district/city in South Sulawesi Province use Klassen typology, Williamson index, and logistic regression. Analyze income inequality between districts/cities in South Sulawesi Province. This study uses secondary data with a sample of fifteen years from 2005 to 2019. The results of the study show that: (1) several districts/cities have potential as developed and fast-growing areas, developed but depressed areas, fast-developing areas, and relatively underdeveloped areas; (2) income inequality in South Sulawesi Province is in a low condition; (3) economic growth and income disparity have a negative and significant effect on welfare in South Sulawesi Province. This means that economic growth and growth disparities affect the community's welfare in South Sulawesi Province. Economic development results do not only indicate the direction of achieving specific economic growth rates. Based on the results, it can be concluded that the economic growth has fluctuated. The Williamson Index shows that there are disparities. Partially, economic growth and income disparity significantly affect people's welfare in South Sulawesi Province. So that, the local government in its program is also expected to be able to more intensively carry out efforts to equalize income distribution social welfare.

Studying of social and economic development of Russia (On the book by V. A. Mau “Crises and lessons. Russian economy ina turbulent epoch”)

2018 ◽  
pp. 146-154
Author(s):  
A. G. Aganbegyan
Keyword(s):  
Economic Growth ◽  
Economic Policy ◽  
Economic Development ◽  
Growth Rates ◽  
Market Reforms ◽  
New Economic Policy ◽  
Russian Economy ◽  
Social And Economic Development ◽  
Key Issues ◽  
Economic Growth Rates

The article considers the main topics of the book by V. A. Mau “Crises and lessons. Russian economy in a turbulent epoch” and in connection with this - the problems of Russia’s social and economic development in the period of market reforms. The key issues that reflect the specifics of the transformational crisis in Russia are formulated. The reasons of Russian economy stagnation in the mid-2010s are explained. The essence of a new economic policy and sources of accelerating economic growth rates in our country are analyzed.

scholarly journals Improving the Efficiency of the Russian Budgetary Policy in the Context of Economic Growth Fueling

2019 ◽  
Vol 12 (1) ◽  
pp. 47-56
Author(s):  
N. N. Semenova ◽  
O. I. Eremina ◽  
G. V. Morozova ◽  
Yu. Yu. Filichkina
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Economic Development ◽  
Growth Rates ◽  
Government Spending ◽  
Government Expenditures ◽  
Budgetary Policy ◽  
The Russian Federation ◽  
Economic Growth Rates ◽  
The Impact

In modern life, the budgetary policy is a crucial tool for financial regulation of the Russian economic development from the standpoint of ensuring stable growth rates. The importance of the budgetary policy for the sustainable economic development is determined by the following factors: first, at the macroeconomic level it helps to achieve macroeconomic stability (a necessary condition for economic growth); second, at the microlevel it stimulates investment, accumulation of human capital and the increase in factor productivity. The state influences the economic growth rates and quality through productive expenditures as one of the most important components of aggregate demand.The subject of the researchis the impact of productive government expenditures on the economic growth rates in the Russian Federation at the stages of crisis and post-crisis development of the national economy (2008–2016).The purpose of the researchwas to assess the budgetary policy of the Russian Federation in the context of boosting the economic growth and to develop proposals to increase its efficiency. The paper examines the existing theoretical approaches to assessment of the impact of government expenditures on the economic development. The authors also used statistical data to measure the interrelationship between budgetary investments in science, basic and human capital and the GDP volumes. The authors formulated recommendations on improving the efficiency of the Russian budgetary policy, in particular: identifying priorities for budget fund expenditures; changing the existing structure of government spending; expanding the scope of the public-private partnership to promote investment and innovation activities. The paperconcludesthat the lack of medium- and long-term reserves for increasing government expenditures necessitates the change in the structure of government spending through reducing overheads and increasing production costs with the purpose of ensuring sustainable economic growth.

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