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PhD, Penn State University
The paper discusses interregional differentiation in the distribution of electronic purchases among the population in Russia. The empirical base of the study is open regional data collected by statistical agencies and authorized government agencies, which were studied using panel regression methods. The aim of the work is to find out what factors are primarily responsible for the interregional spread in the level of online channel use in consumer retail purchases. The study focuses on regional drivers and barriers for the spread of e-commerce. The results show that shares of users of stationary computers and smartphones, as well as gross regional product per capita are the main positive factors, and lack of trust in e-commerce channels is the main obstacle, whereas Internet infrastructure, age structure, educational level, urbanization, aggregated regional preferences for personal purchases and physical availability of retail trade outlets were found to be irrelevant.
Book review of the monograph by Julius Horvath published by Palgrave Springer in 2020.
Offering employment in the public sector in exchange for electoral support (patronage politics) and vote-buying are clientelistic practices frequently used by political machines. In the literature, these practices are typically studied in isolation. In this paper, we study how the interaction between these two practices (as opposed to having just one tool) affects economic development.
This paper examines the impact of the Global Financial Crisis (GFC) on wealth inequality. We investigate this question, using data for 143 countries for the period 2010–2018. We find no significant impact of the occurrence of the crisis on wealth inequality. We show limited evidence that the severity of the banking crisis affects the change in wealth inequality. Furthermore, the impact of the GFC on the change in wealth inequality is influenced by the country characteristics: the GFC has more enhanced wealth inequality in countries with higher levels of economic and financial development as well as lower initial levels of wealth inequality. We therefore contribute to a better understanding of the real effects of banking crises by providing evidence of the distributional effects of the GFC.
We study the importance of input-output (IO) linkages and sectoral productivity (TFP) in determining cross-country income differences. We find that while highly connected sectors are more productive than the typical sector in poor countries, the opposite is true in rich ones. To assess the quantitative role of linkages and sectoral TFP differences in cross-country income differences, we decompose cross-country income variation using a multi-sector general equilibrium model. We find that (i) IO linkages substantially amplify fundamental sectoral TFP variation but (ii) this amplification is significantly weaker than the one suggested by a simple IO model with an aggregate intermediate good.
We conduct an open search of predictors of global real economic activity. To this end, we apply a predictive quantile regression framework, using four alternative proxies of global real economic activity during February 1997–August 2019 and building on a combination of machine learning algorithms to identify their predictors out of 23 candidate explanatory variables. The contemporaneous level of global real economic activity, the Asian and US financial stress are found the most robust predictors. The effect of US financial shocks appears asymmetric, as they undermine global economic growth when the latter is below the median, but do not matter much when the world economy expands fast. Besides, US shadow interest rates are significantly and positively linked to global real economic activity. This effect holds in a high-growth regime of the world economy and suggests that rising US policy rates, contrary to the conventional wisdom, entail US dollar depreciation rather than appreciation. A weaker US dollar stimulates dollar-denominated cross-border bank inflows to the countries other than the USA, leading to a rise in real investment worldwide and industrial output growth. Thus, our empirical findings inform policymakers which indicators should be monitored more closely to predict future shifts in global economic growth and also provide certain insights about optimal policy responses to such shifts.
We study optimal information design in static contests where contestants do not know their values of winning. The designer aims at maximizing the total expected effort. Before the contest begins, she commits to the information technology that includes (1) a signal distribution conditional on each values profile (state) and (2) the type of signal disclosure to contestants -- public, private or none at all. Upon observing the signal, contestants simultaneously choose effort that maximizes their expected payoff in an all-pay auction game. We find that the optimal information technology involves private signals, which are slightly positively correlated and never reveal the true state precisely if the contestants' values of winning are different. In settings where public disclosure must be used, the optimal signal distribution generates symmetric beliefs about the values profile, so that, for example, a complete information concealment is optimal, while public and precise disclosure of each state is not.
A national referendum to legalise recreational cannabis use and supply in New Zealand via the Cannabis Legalisation and Control Bill (CLCB) was recently narrowly defeated. Understanding the underlying factors for this result can inform the cannabis legalisation debate in other countries.
To investigate predictors of voter support for and opposition to the CLCB.
A representative population panel of 1,022 people completed an online survey of intended voting on the CLCB referendum, which included questions on demographics, drug use history, medicinal cannabis, perceptions of the health risk and moral views of cannabis use, political affiliation, religiosity, community size and reading of the CLCB. Regression models were developed to predict support for the CLCB, with additional predictor variables added over successive iterations.
The most robust predictors of support for the CLCB were use of and policy support for medicinal cannabis use, voting for a left-wing political party, having a positive moral view of cannabis use, living in a small town and having read the CLCB. Predictors of opposing the CLCB were voting for right-wing parties, considering “frequent” cannabis use to be a high health risk, and lifetime use of other drugs. Age, ethnicity, education, employment status, religiosity and lifetime cannabis use were not significant predictors after controlling for other variables.
Support for cannabis legalization was not based on broad demographics, but rather specific views concerning the medicinal benefit, morality of cannabis use, health risk of frequent cannabis use, political party affiliation, and knowledge of the proposed regulatory controls of the CLCB. The influence of moral views of cannabis use on voting behaviour suggest the need to debate the right to use cannabis. The importance of knowledge of the proposed regulatory controls of the CLCB on voting underlines the need to raise awareness of proposed regulatory controls during debate.
A settlement among conflicting parties is usually regarded as an efficient solution to a judicial dispute, but settlements between the rich and the poor can also be a symptom of unequal access to justice. We develop a model of settlements that takes wealth disparity between the parties into account, as the defendant and the victim must exert costly effort in court. Richer litigants can drive a harder bargain, and achieve a more favorable settlement price (the price effect), but so can poorer litigants if they have connections or know the judicial system better, e.g., police officers. We provide empirical evidence consistent with the price effect using data on criminal traffic offenses in Russia, where the process allows for civil-style victim-defendant settlements. In line with the theoretical prediction, we find that law enforcement officers and government officials settle more often as defendants (and less often as victims) than their comparable wealth group. Other potential reasons, like judicial bias, fail to explain these differences. The price effect highlights the failure of the judicial system to provide equal justice.
From the fourth quarter of 2007 to the second quarter of 2020, the monetary base in the euro area grew by 330%, the money supply by 61% and inflation measured by the consumer price index - only 17%. Interest rates are around zero and negative, inflation is low, and we often register deflation. This discrepancy between the growth of money and prices has not only practical dimensions for the ECB and FED monetary policy, but also a theoretical significance. In this contribution, we propose an interpretation of these trends on the basis of concepts developed by J. Kornai in his Economics of Shortage analysis, from which we derive our insights on the sovereign debt market situation in European countries. J. Kornai was an unclassifiable economist whose work reflected to some extent the influence of the Austrian School of economics. The point here is not to transpose Kornai’s shortage economy analysis to European capitalist economies, but to show that similar phenomena are appearing today in a different institutional context.
The paper studies the link between yearly behavioural expectations and technology adoption decisions of entrepreneurs and managers in the temporal context. According to our hypothesis, the expectations of managers are of a heterogeneous nature, possessing both backward-looking and forward-looking properties, and the external conditions may influence the severity of these properties in the expressed expectations. In the paper, three types of correlations are analyzed in the framework of regression analysis, that is, a link between past and present expectations (the ‘inertial’ mechanism), a link between present expectations and current levels of technology adoption in an industry (the ‘adaptive’ mechanism), and a link between present expectations and future levels of technology adoption (the ‘forward-looking’ mechanism). The main conclusion of the work is that radical external unforeseen shocks strongly decrease inter-temporal links between past expectations and present expectations and behaviour, which are represented by the inertial and forward-looking mechanisms respectively, and promote a link between current behaviour and the present expectations, which is represented by the adaptive mechanism.
We analyze the complexity of several NP-hard election-related problems under the assumptions that the voters have group-separable preferences. We show that under this assumption our problems typically remain NP-hard, but we provide more efficient algorithms if additionally the clone decomposition tree is of moderate height. We also show a polynomial-time algorithm for sampling group-separable elections uniformly at random.
This paper studies the change in the contribution of intangible assets to economic growth in Russia
after applying the Corrado, Hulten and Sichel approach to estimate an extended list of intangible assets.
As a result, intangible assets contribution increased from 0.05 p.p. to 0.15 p.p. of 3.28 percent of growth
in Russia in the period 2004–2014. These estimates show that the inclusion of the expanded list of intangible
assets increases growth and redistributes production growth between capital accumulation and the growth of multifactor productivity towards capital accumulation, and between the accumulation of tangible capital and intangible capital towards intangible capital. The results differ from European countries, where intangible assets formed 9 percent of growth in 2004–2014.
Comparing the structure of intangible assets in Russia and in Europe and the US, we conclude that in Russia, the highest contribution to the growth of intangible assets is due to intellectual property, while in developed countries,
the contributions are distributed more evenly across the different types of intangible assets under
The chaos in the natural Syria region seems increasing. The factors of economic and social deterioration are various. “What brought on my people this woe?” the answer to this existential question posed by Antoun Saadeh in 1961? wasn’t just for scientific knowledge, the answer was in order to discover the effective way to remove the causes of woe. After a regular preliminary study, he decided that the loss of national sovereignty was the primary cause of what had befallen his nation and what befell it. This was the beginning of the era of the study of the national issue, the question of groups in general, and social rights and how they emerged. Therefore, an original economical approach was indispensable to be developed, a social-nationalist economy. This national economy is based on production, a spiritual-material production, where the distribution of its profits is relative to the contribution of its producers. On this paper we present the theoretical economical conception of the Lebanese politician and social scholar Antoun Saadeh (1904 – 1949), and we discuss its originality and fundamental elements.
This paper is devoted to clarification of Marx’s view of man in terms of his special humanism and materialism. The authors argue that Marx’s works contain normative elements and the basic value for him is free human self-realization. But this self-realization doesn’t serve as a mean for embodiment of certain human ideals; it is the end in itself. So, the authors qualify Marx’s position in comparison with other kinds of humanism as non-directed anthropocentrism. Marx Журнал НЭА, № 1 (53), 2022, с. 181–200 200 rejects the autonomy of abstract ethics, as well as any abstract categories, and raises the significance of human practice as the process of life’s actualization. In this context, the historical materialism of Marx appears closely related to his conception of man as an active agent of history and creator of material world: significant part of material world is interpreted by Marx as the estranged and objectified human subjectivity; nature and man are perceived as the dialectical unity, and the first one acquires its significance only as the living space of the second. This allowed the authors to propose the term “subjective materialism” for defining Marx’s approach. Even in Marx’s later works, the historical task of developing productive forces appears to be permeated with the general humanistic goal of full human liberation and recovery its primacy in relation to the external world. And this task appears to be the key trend of the history in the Marx’s conception.