State-of-the-art of Russia’s heat supply systems

The paper overviews the contemporary state of Russia’s heat supply systems and fuel consumption within its centralized part, the structure of heat consumption by economic sectors and types of industrial consumers. As shown, the centralized heat supply systems, providing the major part of country’s economy with low temperature heat, have heat losses and accident rate at a critical level. The state of decentralized heat supply systems of low rise buildings is not covered by national statistics at all. A second paper on the prospects and development of Russia’s heat supply systems will be published in a subsequent issue.     

Development characteristics of Russia’s ground transport types at the present time

The state and development prospects of the leading sectors of Russia’s transport complex—automobile and railway types—are reviewed in the paper. Special attention is paid to the analysis of transport growth factors, including international ones, and problems of modernization of the infrastructure and railway stock. Some results of reforming rail transport are represented.     

Why Are Themed Brandstores So Powerful? Retail Brand Ideology at American Girl Place

Although there is growing interest in themed brandstores, we still know very little about the source of these retail environments’ power to affect consumers profoundly. Utilizing an ethnographic study of American Girl Place, a culturally rich and highly successful retail environment, we find that effective retailing in these contexts is an intensely ideological affair. In our participant-observation of, and on-site interviews with, consumers at American Girl Place we find that the ideology of the brand manifests powerfully through a variety of different and distinct areas within the store: the Museum, the Library, the Café, the Salon, the Theater, and the Photo Studio. Ideological expression is central to each of these places. Tracking the influence of brand ideology through consumers’ retail experiences, we theorize about the centrality of retail place in ideological branding. Although the confluence of ideology and retailing has been referenced in prior research, this paper focuses on and systematically develops the theoretical interconnection between the two. The physical immediacy of themed brandstore experience acts as a quilting point that links together related cultural concepts into a strong retail brand ideology. The implications of this theory draw our attention to ideological and morally-bound retail brand expressions, emphasize the importance of a variety of retail formats within a single store, and provide practical guidelines for retailers eager to build successful brands of their own.     

The impact of government intervention on the stabilization of domestic financial markets and on U.S. banks’ asset composition

The 2007–2009 financial crisis that evolved from various factors including the housing boom, aggressive lending activity, financial innovation, and increased access to money and capital markets prompted unprecedented U.S. government intervention in the financial sector. We examine changes in banks’ balance sheet composition associated with U.S. government intervention during the crisis. We find that the initial round of quantitative easing positively impacts bank liquidity across all bank samples. Our results show a positive impact of repurchase agreement market rates on bank liquidity for small and medium banks. We conclude that banks have become more liquid in the post-crisis period, especially the larger banks (large and money center banks). We show that real estate loan portfolio exposures have reverted to pre-crisis levels for money center banks and remained flat for all other bank samples.     

Government bond market: Potential for establishing a system of primary dealers in Russia based on relevant world experience

The paper considers a potential improvement in the stability of the Russian government bond market by establishing a system of primary dealers. The existing world models of primary dealership are identified and their relations with national market peculiarities are determined based on the analysis of statistics and regulatory documents of 22 countries. The revealed regularities allow the authors to propose a private dealership model adapted to the specifics of the domestic economy.     

Goodness-of-fit tests for parametric nonhomogeneous Markov processes

Tests for parametric nonhomogeneous and homogeneous Markov processes are given. Asymptotic distribution of test statistics is investigated. Tests for various well-known models are discussed as examples.     

Analysis of dynamics of public and private expenditures on health care and education in contemporary Russia

This paper provides an estimate of the dynamics in expenditures on health care and education made from all sources in Russia in the 1995–2012 and viewed as investments in human capital. These data from Russia are compared with those from other countries. The problems of efficiency in the functioning of these systems and different affordability of these services are considered.     

Tourism Restructuring and the Politics of Sustainability: A Critical View From the European Periphery (The Canary Islands)

There has been considerable discussion of sustainable tourism development, in both theory and practice. Less attention has been paid to the discourses, ideologies and power relations which help to shape 'sustainable' tourism policies and planning instruments. This paper analyses recent initiatives introduced by the regional government of the Canary Islands, designed to bring about a more sustainable model of regional tourism, including a temporary moratorium on tourism development and the drafting of a strategic and normative set of guidelines for sustainable tourism. The paper considers the contested nature of the public debate that accompanied these initiatives within the wider context of the regionally distinct pattern of tourism and capitalist development. It is argued that the legacy of uneven development, and the entrenched power of regional economic and political élites, is likely to undermine the prospects for a just model of sustainable tourism, and to consolidate the continuing privatisation of space and socio-spatial inequalities across the region.     

A GOODWINIAN MODEL WITH DIRECT AND ROUNDABOUT RETURNS TO SCALE (AN APPLICATION TO ITALY)

This paper re‐formulates and tests statistically a hypothetical law (HL) of capital accumulation that manifests itself in three scenarios for Italian economy. HL refines Verdoorn law and ‘Ricardian’ relationship between employment and returns; it generalizes neoclassical and Goodwinian models. Big cycles are not sustainable in inertia Scenario I. Lowering direct diseconomy of scale does not alter a non‐trivial stationary state in stabilization Scenario II. Weakening an inverse relation between employment ratio and growth rate of capital intensity raises stationary relative labour compensation without deteriorating profitability in stabilization Scenario III. Stationary states with zero relative labour compensation are not economically relevant.     

Russia and the global intellectual services markets

The incipient process of intellectualization of global development is described and the role and behavior of intellectual (nonmaterial) services in the world economic relations is presented. Russia’s position on global nonmaterial service markets is analyzed in comparison with other countries. The scope for utilization of the Russian scientific, educational and other intellectual potential in its foreign economic activities is expounded.