Abstract

The paper considers and systematizes mechanisms of pandemic shock influence on the labor markets in recipient and donor countries, identifies factors shrinking Russian and European labor markets and provides a comparative assessment of opportunities to restruct them. A brief historical analysis of the evolution of the migration theory enables to actualize current problems of the impacts of mass labor migration in the recipient countries.

Abstract

The most important reasons for the rapid spread of the COVID-19 pandemic were, in the first place, an underestimation of the dangerous impacts on many areas of economic activity and a neglect of acute social problems. However, national health systems have become the main link in countering the pandemic. The low effectiveness of this counteraction, especially at the very beginning of the pandemic, was undetermined by systemic problems of this field. It is largely related with the insufficient development of first aid services, resulted from the dominance of the concept of insurance medicine. Despite a number of positive changes in the volume and structure of health care financing from federal budget in the Russian Federation in 2020–2021, the health care system, especially first aid, remains one of the most vulnerable parts of the social sphere. A prerequisite to solve the problem is a shift to funding healthcare organizations that provides a balanced development of pre-medical, medical and specialized medical care, equal pay for equal work according to professional qualification of specialists in federal, regional and municipal medical organizations, consistent closing the gap in the level of wages of nursing stuff and paramedical personnel vs the level of wages in other sectors of the economy.

Abstract

In the light of recent events, the current Russian export-oriented model of catchup development has been self-evidently exhausted. In the current geopolitical conditions, the concept of progressive advanced development become an imperative. The subject of this study is a systematization of factors of progressive advanced development. The paper shows that the key factors of progressive advanced development include human capital, the system of institutions, import substitution, reindustrialization, technological development, network systems, culture and mentality.

Abstract

The current challenges are so strong and large-scale that they will inevitably entail a structural restructuring of both the Russian economy itself and the mechanisms and tools for administrating state property. First of all, this will affect the management of state-owned enterprises, that is the companies with state participation in capital (not necessarily of 100% one). In the context of current tasks, the role of these enterprises is expected only to increase. At the same time, in our opinion, there is a need to rethink the experience of reforms of the Soviet period while our country existed in an unfriendly environment. But they were the serious challenges that forced us to look for new mechanisms and tools for economic development, remaining within the socialist economic model existing at that time.

The article presents the results of the economic analysis of the so-called Kosygin reform, which was an attempt to introduce self-financing elements under the command and administrative system, to introduce new enterprise management mechanisms, new incentives to increase labor productivity. The work showed that the reform did not bear the expected fruits. It occurred not because it was interrupted for political reasons. It occurred because a number of tasks of the reform (R&D adoption in production, modernization of production, etc.) could not be solved by the reform instruments in principle. In addition, some phenomena of the Soviet economy in the 1970s and 1980s (inflation, commodity deficit, etc.) were in fact an unexpected but natural result of the reform. It is emphasized that a retrospective study of the positive and negative economic results of the reform will help to level out, and even to avoid miscarriages in current state governance reform, primarily in the field of state property administration.

The article analyses the impact of the Global Minimum Corporate Tax (GMCT), adopted in October of 2021, on the development of the global economy and deoffshorization policy. Author’s interpretation of GMCT is given, fundamental difference with other concepts regulating only cross-border financial transactions (the Tobin tax) is shown. The stages of the international deoffshorization policy are identified in the article, and the fourth stage is designated as "Global deoffshorization 4.0". The main problems to be solved in the implementation of new tax rules are shown.

The paper simulates the volatility of securities returns on the Russian stock market depending on thematic news flows, entering the market, applying conditional autoregressive heteroscedasticity models. To take into account the news background, the model includes a numerical indicator, characterizing the number of news on each of the key topics as an independent regressor. The selection of topics and the construction of such an indicator are carried out by natural language processing methods. To assess the impact of the news background not on the volatility of returns as a whole, but on its components, the standard GARCH models are subject to assumptions that random errors are a mixture of two normal distributions. It was shown that one of the components has a significantly larger weight but smaller volatility. Our interpretation is «common» themes form the usual news background and have a little effect on volatility, while more rare specific themes (and so more informative) have a stronger impact on volatility.

Abstract

The article is devoted to the analysis of the theoretical foundations for the convergence of national economies, as well as the reasons that cause the deformation of supranational institutions. For this purpose, a comparative analysis of theoretical approaches to the determination of institutional dysfunction has been carried out in the work. The study substantiates the need to introduce the term «deformation» of national economies as a process leading to the occurance of pathology and further dysfunction of the supranational institution. It is concluded that due to interconnection of national economies through the supranational institution of integration start of the deformation process either at technical and economical levels or at social and economical ones leads to an erosion of economic ties between countries and pathologies of the supranational institution. The paper shows that if the «rooted» deformations of the core of an integration association often can't be eliminated, then the «acquired» deformations of the core of integration can be eliminated if they are timely detected (not long after an integration association was established). The transformation of the integration institution can be either adaptation or a complete redistributing the benefits of integration received by national economies from integration processes.

Abstract

In the last few years, Uzbekistan has become one of the main recipient of official development assistance funds, addressed to the states of post-Soviet space. This article analyzes the structure of this support, the dynamics and the key motives of developed states to support the economic development of Uzbekistan. The donors are divided into three groups depending their contribution: Asian states; countries outside the region, and international institutions, including multilateral development banks. It was concluded that cooperation with the People’s Republic China (the PRC), seems to be the most effective for Uzbekistan in the short term. In the long term, taking into account a need for structural reforms in the country, cooperation with multilateral development institutions, as well as with Japan, Republic of Korea and European states will bring more benefits.

The article analyzes the state of innovation development of Russia focusing on the tasks of «The Strategy for Innovative Development of Russia until 2020». The actual change in the innovation ecosystem in the period 2010–2020 are assessed. The main areas of innovative environment where there is still a significant gap vs leading countries are identified. Main directions to increase state support in order to upgrade technological development of Russia were revealed.

Abstract

The article reviews the views of Russian scientists (associated with the Institute of Economics of the Russian Academy of Sciences) on the accumulated problems of capitalist transformations in Russia. They are collected in the «Labor and Quality of Life of the Population of Russia. To the 100-th Anniversary of the Birth of the Scientist» / Ed.: I.V. Soboleva. Moscow: Institute of Economics of the Russian Academy of Sciences, 2021. The publication coincides with the 100th anniversary of E.I. Kapustin, outstanding Soviet and Russian economist, Corresponding Member of the Russian Academy of Sciences, Doctor of Economics, Professor, Director of the Institute of Economics in 1971–1986. Issues of current capitalist society in Russia were analyzed in the collection in the light of civil and scientific attitude of E.I. Kapustin. They concern human potential and quality of life of the population, social and labor relations and the labor market in the context of the COVID-19 pandemic. The article also examines the issues of poverty in post-Soviet Russia. It is concluded that it is necessary to continue the search to solve the difficult economic and social situation of our country on the basis of the political economy concept of the social imperative, which places the labour  social demands to the center of scientific research.