Institutional Matrix for Russias Modernization

2012 ◽  
pp. 122-144 ◽  
Author(s):  
O. Bessonova
Keyword(s):  
Economic Evolution ◽  
High Quality ◽  
Cyclic Path

This article analyzes the formation of the Russian institutional matrix with regard to its previous development, but in line with the laws of economic evolution. The structure and development of an razdatok-type institutional matrix on three institutional cycles is considered. It is shown that in transformationphases the market institutional matrix masking the quasi-market is used. The author concludes that system crises could be overcome due to the mutual substitution of the two types of institutional matrices, and the cyclic path of Russias development became a consequence of that. The paper claims that the current institutional matrix will provide transition to a new level of high-quality growth only in case of synthesis of market and razdatok mechanisms.

The Foreign Policy Mechanism of the Union Of South Africa and the Development of its Diplomatic Relations (1910–1948)

2020 ◽  
pp. 74-86
Author(s):  
Alexandra Arkhangelskaya
Keyword(s):  
South Africa ◽  
Foreign Policy ◽  
British Empire ◽  
Prime Minister ◽  
The Political ◽  
Diplomatic Relations ◽  
Economic Evolution ◽  
Local Elite ◽  
History Of

The history of the formation of South Africa as a single state is closely intertwined with events of international scale, which have accordingly influenced the definition and development of the main characteristics of the foreign policy of the emerging state. The Anglo-Boer wars and a number of other political and economic events led to the creation of the Union of South Africa under the protectorate of the British Empire in 1910. The political and economic evolution of the Union of South Africa has some specific features arising from specific historical conditions. The colonization of South Africa took place primarily due to the relocation of Dutch and English people who were mainly engaged in business activities (trade, mining, agriculture, etc.). Connected by many economic and financial threads with the elite of the countries from which the settlers left, the local elite began to develop production in the region at an accelerated pace. South Africa’s favorable climate and natural resources have made it a hub for foreign and local capital throughout the African continent. The geostrategic position is of particular importance for foreign policy in South Africa, which in many ways predetermined a great interest and was one of the fundamental factors of international involvement in the development of the region. The role of Jan Smuts, who served as Prime Minister of the Union of South Africa from 1919 to 1924 and from 1939 to 1948, was particularly prominent in the implementation of the foreign and domestic policy of the Union of South Africa in the focus period of this study. The main purpose of this article is to study the process of forming the mechanisms of the foreign policy of the Union of South Africa and the development of its diplomatic network in the period from 1910 to 1948.

scholarly journals Jump-Diffusion Models for Valuing the Future: Discounting under Extreme Situations

Mathematics ◽  
2021 ◽  
Vol 9 (14) ◽  
pp. 1589
Author(s):  
Jaume Masoliver ◽  
Miquel Montero ◽  
Josep Perelló
Keyword(s):  
Diffusion Process ◽  
Discount Rate ◽  
Continuous Time ◽  
Environmental Planning ◽  
Dynamical Evolution ◽  
Jump Diffusion ◽  
Economic Evolution ◽  
Discount Function ◽  
Long Run ◽  
Future Discounting

We develop the process of discounting when underlying rates follow a jump-diffusion process, that is, when, in addition to diffusive behavior, rates suffer a series of finite discontinuities located at random Poissonian times. Jump amplitudes are also random and governed by an arbitrary density. Such a model may describe the economic evolution, specially when extreme situations occur (pandemics, global wars, etc.). When, between jumps, the dynamical evolution is governed by an Ornstein–Uhlenbeck diffusion process, we obtain exact and explicit expressions for the discount function and the long-run discount rate and show that the presence of discontinuities may drastically reduce the discount rate, a fact that has significant consequences for environmental planning. We also discuss as a specific example the case when rates are described by the continuous time random walk.

scholarly journals Evolutionary economics: Crisis, transformation and metamorphosis

2021 ◽  
pp. 1-8
Author(s):  
Milan Zeleny
Keyword(s):  
Growth Rate ◽  
Productivity Growth ◽  
Driving Force ◽  
Evolutionary Economics ◽  
Regional Economies ◽  
Economic Evolution ◽  
Economic Sectors ◽  
Advanced Economies ◽  
First Time

Most world economies are undergoing fundamental transformations of economic sectors, shifting their employed workforce through the secular sequence of (1. Agriculture⟶2. Industry⟶3. Services⟶4. Government). The productivity growth rate is the driving force. Most advanced economies have reached the final stages of the sequence. Assorted recessions, crises and stagnations are simply cofluent, accompanying phenomena. Crises might be cyclical, but economic evolution is unidirectional. Traditional economics can hardly distinguish phenomena of crisis from those of the transformation. Because there is no “fifth sector”, some economies are entering the phase of metamorphosis, for the first time in history. Metamorphosis is manifested through deglobalization, relocalization and autonomization of local and regional economies. We are entering the Age of Entrepreneurship.

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