The Russian Far East: Searching for a demographic development strategy

The paper analyzes the population dynamics in the Russian Far East, the economic, social and demographic factors of migration processes in the region; the consequences of migration for the social and economic development of the region, the situation in its labor market, etc.     

Development Trajectories of the Russian Far East: Evaluation Based on the Dynamic Model of Economic Interactions

The article discusses the possible development trajectories for the Far East formed under the influence of the policy of creating preferences for economic activities in the region. A dynamic model of economic interactions has been proposed for identifying these trajectories. Based on the model calculations, the complementarity of various incentive schemes for economic activity in the Far East is analyzed and the dependence of economic growth on the scale of the state support is assessed.     

论黑龙江省对俄罗斯远东的经贸合作

俄罗斯近年来更加重视发挥其东部地区的优势,积极发展多领域的合作.我国尤其是黑龙江省应抓住机遇,积极开拓远东市场.进一步推动中俄边境贸易,必须加强政府宏观调控,拓宽境外合作领域.     

Modern Trends and Problems of Migration in a Russian Border Region: The Far East

The article has analyzed trends and problems in migration processes in the Far East of Russia in the 2010s. There are restrictions on population growth in the Far East due to migration. It has been determined that the implementation of modern policy decisions with regard to the Far East region does not create real prerequisites for increasing the incomes of the population. It has been proved that, in order to attract population to the Far East, it is necessary to institute economic development in the region that can increase incomes and make them comparable to other more successful federal districts.     

Industrial cooperation between Ukrainian and Russian enterprises

The paper gives an analytical estimate of the state of industrial cooperation between Ukrainian and Russian enterprises. The normative and legislative basis in this sphere of activities is considered, cooperation in machine building, aircraft and chemical industries, the military and technical sphere, and shipbuilding is exemplified. The problems of joint activities are analyzed, and their prospects are outlined.     

The United Nations and low politics: Environmental & human security in East Asia*

In a world order characterized by ideological conflicts, low politics’ usually goes by the wayside. Policymakers focus on ‘high politics’ such as issues on state security, diplomacy and warfare. The September 11^th attack was an epitome of terrorism that calls for not only the protection of territorial and political security of the state but also the safeguarding of the individual or group from all threats to human survival. This paper raises the issues on ‘environmental security’ and ‘human security,’ particularly in the context of East Asia and reviews the efforts of the United Nations to safeguard the global environment and human rights. Finally, this paper reflects on the future role of the United Nations in non‐traditional security arenas with special emphasis on its role in East Asia.     

International Capital Flows and East Asian Economic Dynamism*

A Review Article on The East-West Pendulum by Robert Lloyd George and Foreign Direct Investment and Industrialization in Malaysia, Singapore, Taiwan and Thailand, OECD, Paris by Linda Y.C. Lim and Pang Eng Fong     

东盟区域内经济合作及其对中国·东盟自由贸易区的启示

一、东盟自由贸易协定签订前的经济合作 1.东盟工业化项目(AIP).东盟内部的经济合作实际上是从上世纪 70年代后期开始的.东盟 1977年开始了东盟工在业化项目.这是当时的东盟 5国以通过振兴有规模经济的产业,强化区域内的互补关系,提高效率的一个计划.即印度尼西亚和马来西亚建设尿素项目,菲律宾建设过磷酸项目,新加坡建设汽车发动机项目,泰国建设烧碱项目,这些项目所生产的产品在整个区域内销售.但由于当时的东盟各国没有从区域内进口这些产品的欲望,又由于资金不足,东盟工业化项目中途夭折.     

An overview of the state and priorities of the iron and steel industry in the Russian Far East

This article considers the problems of the Russian Far East for which a new course of strategic development has been proclaimed. The growing demands of the region’s economy for diverse metal products make it necessary to initiate organizational reforms determined by the actual state of things. The reforms will include the construction of new iron and steel works and the development of a full-range iron and steel industry in the region.     

The Russian North: Economic and Geographic Aspects of Development

From the standpoint of socioeconomic geography, investigations into the challenges of the Russian North involve matching the structural and functional characteristics of its territorial economic systems formed in severe and extreme climatic conditions to their functionality. The territorial economic systems are presented as organizational forms of productive forces to address the main national economic problems whose solution is primarily associated with the modernization of production, social and infrastructure facilities established in the North.     

东亚区域合作中的中国、日本、东盟

目前,东亚区域经济合作中的“10+3”的总体框架已基本确定,在已经基本成熟的东盟合作经验的引导下,东亚经济体内各个区域性的合作取得了一系列进展,例如中国与东盟、日本与东盟、韩国与东盟等。但是,中、日、韩三国间的自由贸易区的建设仍面临诸多困难。由于中日两国处于不同的发展阶段,加之日本经济仍未从低迷状态走出,不平衡的发展态势导致日本对与有中国积极参与的区域合作仍犹疑不决。在对待与东盟的合作问题上,中日两国仍存在一定的竞争与利害冲突,东盟客观上成了中日关系的协调平台。今后,东亚区域合作的进一步发展需要中、日、韩与东盟,特别是中日两国的进一步协调与合作。     

东亚区域经济合作中的中国、日本、东盟

目前，东亚区域经济合作中的“10 3”的总体框架已基本确定，在已经基本成熟的东盟合作经验的引导下，东亚经济体内各个区域性的合作取得了一系列进展，例如中国与东盟、日本与东盟、韩国与东盟等。但是，中、日、韩三国间的自由贸易区的建设仍面临诸多困难。由于中日两国处于不同的发展阶段，加之日本经济仍未从低迷状态走出，不平衡的发展态势导致日本对与有中国积极参与的区域合作仍犹疑不决。在对待与东盟的合作问题上，中日两国仍存在一定的竞争与利害冲突，东盟客观上成了中日关系的协调平台。今后，东亚区域合作的进一步发展需要中、日、韩与东盟，特别是中日两国的进一步协调与合作。     

北美自由贸易区与东亚贸易和投资关系的实证分析

当前学术界关于区域经济一体化的研究中,关于区域间经济关系的研究、特别是实证分析很少。笔者通过近一年的研究,尝试以北美自由贸易区和东亚区域贸易和投资关系作为突破口,通过大量数据计算分析两区域贸易和投资的现状,并希望所得出的数据和结论对将来的区域间经济关系研究有一定帮助。     

The association between unexpected earnings and abnormal security returns in the presence of financial leverage*

Abstract. This study extends the growing literature on the deteminants of the variation in the relationship between unexpected earnings and abnormal security returns (the earnings response coefficient). We hypothesize that the firm's default risk as measured by financial leverage would affect the earnings response coefficient. We test this hypothesis by partitioning firms according to (1) the existence of debt in the capital structure (all-equity versus levered firms) and (2) the level of leverage (low-leverage versus high-leverage firms). The results are generally consistent with our hypothesis. Specifically, we find that the earnings response coefficients are larger for all-equity and low-leverage firms vis-à-vis matched-levered and high-leverage firms, even after controlling for the effects of equity beta, persistence, risk premium, and measurement error in unexpected earnings. Our findings are also robust with respect to the choice of earnings measure, either before or after interest charges. Résumé. L'étude s'inscrit dans le prolongement des travaux de plus en plus nombreux portant sur les déterminants de la fluctuation de la relation entre les bénéfices imprévus et les rendements anormaux des titres (le coefficient de réponse des bénéfices). Les auteurs posent l'hypothèse que le risque de non-paiement de l'entreprise, mesuré en termes de levier financier, influe sur le coefficient de réponse des bénéfices. Les auteurs testent cette hypothèse en classant les entreprises selon 1) l'existence ou non de capitaux empruntés dans la structure du capital (entreprises dont les capitaux sont exclusivement des capitaux propres par rapport aux entreprises dont les capitaux sont en partie empruntés) et 2) l'importance du levier financier (entreprises dont le levier financier est faible par rapport aux entreprises dont l'importance du levier financier est élevée). Dans l'ensemble. les résultats confirment l'hypothèse. De façon plus précise, les coefficients de réponse des bénéfices sont plus élevés pour les entreprises dont les capitaux sont exclusivement des capitaux propres et les entreprises dont le levier financier est faible, par rapport aux entreprises, classées selon la taille et le secteur d'activité, dont les capitaux sont davantage constitués de capitaux empruntés et dont le levier financier est élevé, même lorsque sont contrôlées les répercussions du bêta des capitaux propres, de la persistance, de la prime de risque et de l'erreur de mesure des bénéfices imprévus. Les résultats de leur étude résistent également à l'analyse lorsqu'ils font intervenir le choix de la mesure des bénéfices, avant ou après avoir tenu compte des intérêts débiteurs.     

Asian Currency Crisis and the Generalized PPP: Evidence from the Far East

The present paper investigates the effects of the Asian currency crisis of 1997–1998 on the generalized PPP between several real exchange rates of the Far East countries. Monthly log of real exchange rates of the currencies of Thailand, Malaysia, Indonesia, the Philippines and South Korea vis-à-vis the US dollar and the Japanese yen during 1990–2004 are applied in the investigation. Further tests are conducted between exchange rates vis-à-vis the Thai baht. Tests are conducted for periods before and after the crisis. Results from the Johansen method of multivariate cointegration show a substantial change in the relationship between these real exchange rates before and after the Asian currency crisis. This result is found using rates based on three currencies: US dollar, yen and baht.     

Macroeconomic Stabilization and Economic Growth: The Case of Uganda*

Abstract: This paper develops a computational general equilibrium model for analyzing some chronic economic problems facing developing countries. We build a multi‐period model with multiple types of capital and three different financial assets. Moreover, capital is sector specific to capture the idea that many developing countries focus on a few specific industry groups. We model both rural and urban consumers with the possibility of rural‐urban migration. One further modeling feature is a partially interdependent banking sector where the performance of, say, the agricultural bank can affect the functioning of the industrial bank. The model is used to examine problems of budgetary liquidity and alternative ways of alleviating these problems. Our analysis is applied to Uganda, a country that after years of economic decline is undergoing a phase of recovery and reform. Accordingly, we develop a model that captures some of the predominant institutional features of the Ugandan economy and evaluate two realistic reform scenarios. After calibrating the model with a base case scenario we test the implications of a simultaneous tariff reduction and increase in value added taxes. We then look at the implication of debt reduction.     

The international financial crisis and problems of Russian Economic Development

This paper analyzes the development factors of the Russian economy and causes of the financial crisis, as well as anti-crisis policy objectives and methods.     

Long-term socioeconomic development of the Far East and Transbaikalia: Main problems and tasks

This paper summarizes the key messages of the report of the Working Group of the State Council of Russia on the strategic development of the eastern regions of Russia.