Performance Effects of Technological Dynamism: Private vs. State Enterprises in Russia

How has the privatization-led economic transition transformed Russian firms? Prior to recent economic recession caused by Western sanctions, Russia’s economic performance has been impressive, yet little is known about its micro-level sources. Particularly, while macro-level data suggests a positive effect of privatization, such effect is seldom substantiated at firm-level in Russia. To take a step towards opening the black box, we investigated the performance effect of technology dynamism in Russian firms and the extent to which ownership mattered with regards to the technology dynamism-performance link. Our survey data shows that performance is driven by IT adoption, entrepreneurial orientation, and technological turbulence in Russian firms and that the positive effects of technological turbulence are stronger for private than for state-owned Russian firms. According to our results, Russian private enterprises appear more capable of buffering and gaining from technological turmoil, suggesting that the most significant outcome of organizational transformation in Russia is the firms enhanced capability in managing external environmental dynamism.     

Rufbereitschaft: Wie oft erlaubt?

In unserer Funktionsabteilung Kardiologie verfügen wir über einen Herzkathetermessplatz und stellen eine 24-Stunden- Rufbereitschaft. Zurzeit macht jeder Mitarbeiter 15 Rufbereitschaften pro Monat. In der Urlaubszeit k?nnen es bis zu 25 sein. Gibt es eine H?chstgrenze für die Zahl der Rufbereitschaften?     

The interaction between macroprudential policy and monetary policy: Overview

This paper presents the main findings of an International Banking Research Network initiative examining the interaction between monetary policy and macroprudential policy in determining international bank lending. We give an overview on the data, empirical specifications and results of the seven papers from the initiative. The papers are from a range of core and smaller advanced economies, and emerging markets . The main findings are as follows. First, there is evidence that macroprudential policy in recipient countries can partly offset the spillover effects of monetary policy conducted in core countries. Meanwhile, domestic macroprudential policy in core countries can also affect the cross‐border transmission of domestic monetary policy via lending abroad, by limiting the increase in lending by less strongly capitalized banks. Second, the findings highlight that studying heterogeneities across banks provides complementary insights to studies using more aggregate data and focusing on average effects. In particular, we find that individual bank characteristics such as bank size or GSIB status play a first‐order role in the transmission of these policies. Finally, the impacts differ considerably across prudential policy instruments, which also suggests the importance of more granular analysis.     

Development of Sunflower Oil Exports in Russia and the EEU: Main Trends,Prospects, and Evaluations by the Gravity Model

ABSTRACT

The purpose of this paper is to assess the major trends, factors, and prospects of development of Russian and EEU sunflower oil exports. The sanctions resulted in an increase of sunflower oil exports in 2014 to a peak value, which allowed the producers to accumulate revenues in hard currency. The gravity models findings for Russia and for the EEU show that the sanctions stimulated the growth of sunflower oil exports. As distinct from a common language, a common border also encourages the development of Eurasian exports to third countries. The tariff size in the importer country is strongly and negatively connected with exports both from Russia and from the EEU. The effect of regional integration within the EEU is insignificant for the development of sunflower oil exports, while regional integration processes in the CIS have a positive impact on exports.     

The Image of Spain as Tourist Destination Built Through Fictional Cinema

Fictional cinema is one of the cultural agents that shapes the international image of each country. It colonizes spectators' imagery, and it can influence their choice of tourist destinations. Spanish cinema's international diffusion has allowed the exhibition of movies that spread and renew the image of Spain in different ways. In this respect, we propose a three‐fold typology of films focusing our attention on their content and the ways in which they build the image of Spain: Icon Films, Pastiche Films, and Tourist Poster Films. These films may stimulate the increase of a cultural tourism very different from the traditional one that inspired many to come to Spain mainly looking for sunny beaches.