Russian Companies at the End of 2017: Absence of Significant General Economic Changes and Progress in the Machinery Industry

The results of a regular poll of Russian companies in the real sector carried out by the Institute of Economic Forecasting of the Russian Academy of Sciences have been analyzed and commented on. The companies’ opinions on which macroeconomic problems in modern Russia they consider to be the most urgent have been presented. The data has been given on the methods the companies use to solve their production, financial, and marketing problems, as well as on the frequency of using these methods. The companies’ answers to questions on how mutual sanctions between the West and Russia have affected their activities have been considered for the fourth time. The estimates of the companies on the quality of the Russian machines and equipment, as well as a comparison of the quality of the Russian equipment with foreign analogs have been presented. The opinions of companies on the economic policy of the regional authorities have been studied. Information about the character and level of cooperation between the Russian companies and banks has been given. The current situation with provision of the companies with the labor resources has been presented.     

Russian enterprises in Spring 2016: Interactions with state authorities in the midst of an economic depression

This article represents an analysis and discussion of the results of a regular survey of enterprises that operate in the real sector, which was held by the Institute of Economic Forecasting, Russian Academy of Sciences. This work reflects the opinions of Russian enterprises on the role the government should play in the economy. It presents the information on how often various governmental structures were described by the enterprises as over-bureaucratized and most corrupted structures. The article lists evaluations provided by the enterprises with regard to the current economic policy of federal and regional levels of authority. It contains data on the ongoing investment activity of enterprises, their short-term investment intents, and their procurements particularly concerning machinery and equipment. It lists comparative assessments in terms of the quality of Russian and foreign equipment.     

Russian enterprises at the end of 2015: Anti-crisis activities and assessment of the impact of mutual Economic sanctions of the west and Russia

The results of a survey of enterprises conducted by the Institute of Economic Forecasting of the Russian Academy of Sciences are analyzed and commented on. Answers of enterprises to the questions about the methods used by them to adapt to the crisis are given. The behavior of enterprises during the current crisis and the crisis of 2008–2009 has been compared. The opinions of Russian enterprises on the change in the tax burden in recent years and on the situation with tax evasion are presented. Estimates of Russian enterprises about how their activities have been affected by mutual sanctions of the West and Russia have been provided. Estimates of Russian enterprises about the need to produce modernization are considered. Information on the modern nature of business collaboration with banks and on the recruitment needs of enterprises has been given.     

Russian enterprises in spring 2017: Slow restoration of investment activity against a background of economic stabilization

This paper has analyzed and commented on the results of the regular survey of Russian real sector enterprises, which was conducted by the Institute of Economic Forecasting of the Russian Academy of Sciences. The views of enterprises on the quality of economic policy of federal and regional authorities have been presented. Estimates have been obtained that reflect the dynamics of investment activity of enterprises and the dynamics of investment financing from various sources, as well as the need of enterprises to modernize production. The opinions of enterprises about the desirable dynamics of the ruble exchange rate are given. The current situation with the provision of enterprises with human resources has been reflected. Enterprises’ answers to questions about whether they have territorially detached subdivisions and their use of outsourcing have been considered.     

Amortization policy as a factor in the investment policy of an economy

The article is based on the Concept and a draft law on amortization policy in the Russian Federation prepared by the Association of Mining and Metallurgical Industrialists of Russia (Russian abbreviation: AMROS). It examines the role and place of amortization policies in Russia and around the world as well as their essential differences in terms of the economic mechanisms of capital reproduction. Measures to improve Russia’s amortization policy are suggested.     

Occupational injuries as a problem of social and labor relations in Russia

This article discusses the dynamics of indicators of occupational injuries in Russia during a long period of time. A contradiction is revealed between the deterioration of working conditions and occupational safety and the reduction in the frequency of accidents at work. A comparison of injury rates, which have been recorded in the Russian Federation, with those in EU countries is conducted. Based on the ILO methodology for the estimation of the reliability of statistics of occupational injuries, the probable number of injured people involved in accidents at work in Russia is evaluated. The reasons for the poor registration of injuries in enterprises and the problems that exist in the field of occupational safety and health are also analyzed.     

A cluster-based strategy for Russia’s innovative development

This paper summarizes Russia’s experience in the use of the cluster approach to solving modernization and innovative development problems in the country’s economy. Our main attention is focused on analyzing the formed approaches, programs, and regulatory legal acts adopted on clustering at the federal and regional levels. We have also analyzed the positive experience accumulated by individual constituents of the Russian Federation. The paper shows the key role of infrastructural systems of intellectual and financial capital in supporting a cluster’s innovative orientation.     

Activity of the Russian monetary and banking sector in conditions of adverse external factors of 2014–2015 affecting the economy

This article represents a discussion on how the adverse external factors of 2014–2015 affected the banking system and financial conditions of the real economy sector. The analysis is based on the data of bank accounting statements. The work also uses statistical data on the turnover and concentration obtained by aggregating the accounting statements available online on the Russian Central Bank’s official website.     

Influence of oil prices on stock market indexes in Russia and Norway

The effects of oil price dynamics on share quotations are discussed in the paper for the 2000–2012 period for two oil exporting countries—Russia and Norway. It has been shown, using a vector autoregressive model, that, in spite of intuitive expectations, oil prices have not been a systematic risk factor for Russian and Norwegian stock market indices. In Norway, share quotations definitely responded to the dynamics of the US dollar exchange rate relative to the world’s main currencies and the S&P 500 stock index, as well as to fluctuations in the global and domestic interest rates, although to a lesser degree. In Russia, share quotations are practically exclusively affected by their own shocks (a factor that is explained by some specific features characterizing Russia’s major public companies).     

普京新政与俄罗斯经济政策走向

第三次当选总统的普京将立足于新型工业化道路,通过产业政策主导经济发展,大型国有企业与金融机构仍将成为关键性力量,国家垄断资本主义政策仍将延续,国有制将长期存在于自然垄断、军事工业与原材料产业。同时,普京也将试图通过减少管制和私有化来降低风险。再工业化定位、消除财政赤字的压力、欧美债务危机的警示、中产阶级的快速崛起,决定了普京政府的民粹主义色彩将不得不有所淡化,政策重点将主要围绕培育人力资本与发展高科技产业而展开。经济政策能否推动创新发展与结构转型,取决于一系列条件,其中最为重要的,是政治制度能否顺利实现转型。     

Social entrepreneurship in the system of social policy: International experience and prospects of Russia

The article deals with a relatively new phenomenon for Russia, i.e., social entrepreneurship. Based on an analysis of international experience in the development of social enterprises, their characteristics have been studied, the advantages and risks in support of social enterprise in meeting the social needs have been revealed, and the problems and prospects of development of social entrepreneurship in Russia have been discussed.     

Financial profiles of mortgage loan securitization

The issue and circulation of increasing numbers of securities is evidence of intensified securitization, which is among the most important trends in global finances today. Promising areas for securitization in today’s Russia are mortgage loans, followed by lease payments and consumer credits. Russia lacks mortgage note circulation despite legislative consolidation of two of their possible forms. A major economic reason behind the underdevelopment of the Russian mortgage security market is that large commercial banks do not operate in the domestic mortgage lending system. As a consequence, a critical mass of debt obligations for securitization has not accumulated in Russia yet. This and other circumstances determine the shift of the Russian mortgage market toward the American model of refinancing of mortgage loans, which depends on infrastructural hypothecary institutions, whose role can be assigned to Bank Control Pools (BCPs).     

Part-Time Farmers in Russia: Phenomenon and Social Functions Based on the Example of the Republic of Bashkortostan

This article describes and analyses a relatively new phenomenon that has not yet been discussed in the scientific literature. Part-time farmers emerged in Russian agriculture more than 15 years ago and still exist in this sector in Russia. The article considers the issues of how they came into being; their roles and social functions; their strengths, weaknesses, and specialization; and reasonable measures to use the advantages of this type of farm. The analysis is based on the example of the Republic of Bashkortostan.     

Long-term forecasting of the development of Russia’s pension system: Factors and conditions

The problems associated with the reformation of the pension system have gained extreme urgency in the process of forming the long-term strategy for Russia??s socioeconomic development (until 2030), which is determined by the growth in its influence on the macroeconomic strategy. This paper gives an actuarial substantiation of the actual factors and conditions, on which the development of the pension system in the Russian Federation depends, and prospects for the stability of the pension budget based on insurance principles.     

Prospects of diversifying Russian direct investment abroad

The article investigates changes in the distribution of Russian direct investments between countries and regions of the world in 2014–2015. The specificity of increasing Russian investment in Asia and Africa in the 2000s has been identified. The possibilities and limits of geographic diversification of Russian investments abroad are shown, including for scenario when Russia’s state support for legal overseas expansion of domestic firms has been developed.     

俄罗斯国防工业“军转民”政策视角研究

俄罗斯拥有庞大军工企事业单位,国防部将研究所和工业企业移交国防和非国防部门管理,并要求军工综合体企事业单位停止私有化改革,保留国防科技工业的核心和骨干,为企业生产民品、开发军民两用技术,同时致力于军转民工作且制定一系列支持政策。我国国防工业改革应借鉴俄罗斯军工改革经验。     

The dynamics of housing affordability for the population of Russia in 2008–2014

The article discusses the dynamics of affordability for the Russia’s population of purchase of ownership of housing in the period between the two crises of 2008 and 2014. We conducted a comparative analysis of the results of housing affordability assessment made using different methods. We constructed a typology of Russian regions, i.e., subjects of the Russian Federation on a classical housing affordability index. We made an estimate of the proportion of housing affordable for acquisition by the population and the proportion of households with the opportunity to purchase standard housing. Multivariate calculations conducted will improve the objectivity and reliability of the assessment of housing affordability level. It is shown that the financial affordability of housing in Russia after the crisis of 2008 has increased in all considered indices.     

The Green Factor of Economic Growth in Russia and the World

The article discusses the role of environmental and climate factors in the modernization of the global and Russian economies in the context of the challenges presented by the new industrial revolution. It is emphasized that a restraining effect of these factors on economic growth is primarily caused by qualitative characteristics of technologies used for resource utilization and the adaptation of population and facilities to global climate changes. The article considers a growing urgency of eco-innovations, as well as “green” technologies overall, as a factor affecting the economic growth and modernization of the economy; the unevenness of the development of these technologies in the countries of the world; and strategic risks of Russia’s lagging behind the leading world economies in this area. A special emphasis is placed upon (i) a substantiation of the significance of the mineral, raw material and fuel and energy complexes, as well as the forest-industryl and agro-industrial complex, as priority sectors for the development eco-innovations and green technologies in Russia and (ii) arguing that in Russian conditions a long-term development policy is in essence a strategy for green economic growth.     

Educational credit in Russia: Problems and prospects

The paper analyzes problems and prospects of education crediting in Russia, sums up the author’s personal experience of participation in the development and management of the education crediting system within the framework of a private business initiative (the Credo program), as well as in various working groups (at the Russian Federation State Duma, the Ministry of Education and Science, the Russian Union of Industrialists and Entrepreneurs, etc.) set up to discuss opportunities and to work out recommendations for the development of educational credit in the Russian Federation.     

新形势下绥芬河口岸对俄木材贸易研究

绥芬河位于黑龙江省东南部,地处东北亚经济圈的中心地带。绥芬河口岸是连接中国与俄罗斯贸易往来的重要枢纽。中俄木材贸易是中俄经贸往来的重要组成部分。2013年12月初,绥芬河正式被国务院批复为中国首个卢布使用试点市,新形势下绥芬河口岸对俄贸易面临新的机遇和挑战。文章在对绥芬河市进行实地调研以及走访数据的基础上,分析了绥芬河口岸概况,提炼总结了对俄木材贸易现状,指出了新形势下绥芬河口岸对俄木材贸易存在的问题,并提出了相应的对策和建议。