In search of local autonomy: the politics of big cities in Russia's transition

Despite a series of local government reforms in the 1990s, Russia's localities still lack serious autonomy. Only big cities maintain hopes for the emergence of local autonomy and local democracy. City politics has produced multiple conflicts between regional and local authorities; however, regional‐local relations merely reflect fundamental center‐periphery controversies on a smaller territorial scale. While big cities and their metropolitan areas serve as centers of political, economic and social modernization, other regional areas are lost in the peripheries. During Russia's transition period, some large cities acquired more political and economic autonomy from regions than others did. This article concentrates on the crucial role of (1) political opportunities inherited from the late‐Soviet period; and (2) strategic choices of political actors in the post‐Soviet period. The constellation of initial conditions and outcomes of political conflicts have contributed greatly to the diversity of city politics and urban autonomy in Russia's cities. Finally, the article considers the possible impact of local autonomy in Russia's cities on national social, economic and political developments. Malgré la série de réformes des années 1990 sur les gouvernements locaux en Russie, les localités manquent toujours d'une véritable autonomie. Seules, les grandes villes espèrent encore l'avènement d'une autonomie et d'une démocratie locales. La politique urbaine a généré nombre de conflits entre autorités locales et régionales; ceux‐ci ne sont pourtant que le reflet de la polémique fondamentale entre centre et périphérie à une échelle territoriale réduite. Alors que les grandes villes et leur métropole concentrent modernisations sociales, économiques et politiques, le reste de la région se fond dans les périphéries. Pendant la Russie de transition, quelques grandes villes ont acquis davantage d'autonomie économique et politique que d'autres par rapport à leur région. L'article détaille le rôle crucial qu'ont joué, d'une part, les ouvertures politiques héritées de la fin du régime précédent et, d'autre part, les choix stratégiques des acteurs politiques de l'ère post‐soviétique. La pléiade de conditions initiales et de séquelles de conflits politiques a largement contribuéà diversifier les politiques urbaines et le degré d'autonomie des villes russes. Enfin, l'article aborde l'impact éventuel d'une autonomie locale des villes sur les évolutions sociales, économiques et politiques de la Russie.     

Monetary integration in the ex‐Soviet Union: A ‘union of four’?*

The governments of four ex‐Soviet countries recently discussed forming a currency union. To examine the economic feasibility of this proposition, we use conventional techniques and show that the arrangement is likely to find it difficult to handle the lack of structural symmetry, the asymmetric pattern of shocks, and the lack of market flexibility among the potential participants. Moreover, the union would be a unilateral one. It would require an unusual degree of political commitment to survive. Nonetheless, there are some subtleties in the timing and pattern of mutual dependence between Russia and Kazakhstan, and to a lesser extent in Belarus, which may reduce the strain from a currency union in those countries. Otherwise, the black market will have to provide the necessary market flexibility.     

Housing-Market Segmentation and Demand for Housing Attributes: Some Empirical Findings

In this paper, we have empirically estimated demand equations for housing attributes, using a two-step approach in conformity with the procedure proposed by Sherwin Rosen. The identification problem inherent in Rosen's procedure has been avoided by estimating separate equations for distinct market segments in the first step. The estimates of the demand functions obtained in the second step are consistent with theoretical expectations.     

Corporate entrepreneurs and privatized firms in russia, ukraine, and belarus

This paper provides a preliminary examination of the development of corporate entrepreneurship in privatized firms in Russia, Belarus, and Ukraine, three countries with a common background as part of the Soviet Union, but with different incentives and constraints on entrepreneurship since the beginning of transition. Using large-scale surveys of newly privatized companies, the paper shows that there are differences in the nature and extent of entrepreneurship in established businesses in the three countries. The paper utilizes representative samples of general directors in 105 privatized Russian enterprises, 100 privatized Ukranian enterprises, and 68 privatized enterprises in Belarus.Evidence is presented that suggests that Russian privatized firms have lower insider stakes, greater outside ownership, less employee voice, and greater managerial power within the firm than is the case in Belarus and Ukraine. The active monitoring of managers by outsiders may be an important aspect of the transformation of Russian firms to efficient, commercially viable entities. In Ukraine and Belarus a lack of outside involvement in corporate governance may lead to managerial opportunism and low incentives to attract outside strategic investors, including foreign partners. Russia appears to be building a stronger platform for the future development and effectiveness of entrepreneurship than is the case in Ukraine and Belarus. The findings provide evidence of the importance of direct involvement and the development of relationships to counteract the shortcomings of the legal infrastructure and financial reporting mechanisms.In general, the findings of the study for Russia show that in the current hostile and rapidly changing environment, entrepreneurial priorities and actions so far have primarily focused on controlling cash flow, seeking new markets, and redefining businesses through retrenchment and restructuring. Although it is, as yet, too early to examine the longer term effects of the changes in entrepreneurial conditions, the paper presents the first large-scale comparative evidence of the indications of a divergence in entrepreneurial development between the three countries. There was a greater incidence of turnover among the senior management team in Russia. Managers in Ukraine and Belarus had more diverse strategic objectives in contrast to those in Russia where managers have behaved in a more realistic fashion by focusing on retrenchment.For academics, the study's findings suggest further research is needed to examine the longer term nature and effects of corporate entrepreneurship, compare entrepreneurship in new start-ups in the three countries, and compare with corporate entrepreneurship elsewhere in emerging markets and the barriers to the development of corporate entrepreneurship. For practitioners and policy makers, the study highlights the need to develop and enforce an appropriate regulatory framework which strengthens the rules of the game under which corporate entrepreneurship operates.     

R&D spending,domestic competition,and export performance of Japanese manufacturing firms

This paper examines three factors influencing the export performances of Japanese manufacturing firms: R&D spending, domestic competitive position, and firm size. Export sales are positively associated with (1) R&D expenditures, (2) size of a firm, and (3) average R&D intensity of an industry. A firm's export ratio is related to the size of the firm, but not to the firm's and the industry's R&D intensities. Follower firms are characterized by higher export ratios than market leaders. The results indicate a relationship between the patterns of domestic competition and the international competitiveness of Japanese firms.     

A bound on the expected overshoot for some concave boundaries

LetX ₁,X ₂,… be i.i.d. with finite meanμ>0,S _n =X ₁+…+X _n . Forf(n)=n ^β ,c>0 we consider the stopping timesT _c =inf{n:S _n >c+f(n)} with overshootR _c =S _{T c} −(c+f(T _c )). For 0<β<1 we give a bound for sup _c≥0 ER _c in the spirit of Lorden’s well-known inequality forf=0.     

White-collar human resource management in large Japanese manufacturing firms

This article explains white-collar Human Resource Management practices in large Japanese manufacturing firms. It first deals with the structural characteristics of white-collar HRM systems and some of its constraints. Then, the article discribes the personnel staff organization and analyzes in detail the four basic HRM functions: selection, development, appraisal, and rewards with data collected in two large Japanese firms. Implications for Western managers are suggested in the conclusion.     

Water–milk nexus in India: a path to a sustainable water future?

This paper examines the nexus between milk production and water use in India. The nexus is examined in the context of extended consumptive water use (CWU) of milk production beyond drinking water. It includes the real CWU (evapotranspiration (ETa) that occurs during the production of green fodder and feed grains) and the virtual CWU (ETa embedded in by-products for animal feed). The real CWU appears as large as that of sugarcane, and the real and virtual CWU combined is as large as that of rice. However, milk production generates more value than the outputs of rice and sugarcane combined. Sustainable water use and agricultural growth in major milk-producing areas require a drastic reduction in groundwater CWU, which, at present, exceeds natural recharge. It is suggested that diversifying to a mix of milk and high-value (but low water consuming) crops can reduce groundwater CWU while ensuring higher total output.     

Monetary policy and country risk

This article develops an econometric model in order to study country risk behaviour for six emerging economies (Argentina, Mexico, Russia, Thailand, Korea and Indonesia), by expanding the country beta risk model of Harvey and Zhou (1993 Harvey, CR and Zhou, G. 1993. International asset pricing with alternative distributional specifications. Journal of Empirical Finance, 1: 107–31. [Crossref] , [Google Scholar]), Erb et al . (1996a, b) and Gangemi et al . (2000). Towards this end, we have analysed the impact of macroeconomic variables, especially monetary policy, upon country risk, by way of a time-varying parameter approach. The results indicate an unstable effect of monetary policy upon country risk in periods of crisis. However, this effect is stable in other periods, and the Favero–Giavazzi effect is not verified for all economies, with an opposite effect being observed in many cases.