A Three-sector Model of the Russian Virtual Economy PDF Download
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Author: Svetlana Bojarčenko
Publisher:
ISBN:
Category :
Languages : en
Pages : 38
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Author: Svetlana Bojarčenko
Publisher:
ISBN:
Category :
Languages : en
Pages : 38
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Author: R.E. Ericson
Publisher:
ISBN:
Category :
Languages : en
Pages : 41
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Author: Clifford G. Gaddy
Publisher: Brookings Institution Press
ISBN: 9780815731115
Category : Business & Economics
Languages : en
Pages : 322
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Book Description
Clifford Gaddy's and Barry Ickes' thesis-- that Russia's economy is based on illusion or pretense about nearly every important economic yardstick, including prices, sales, wages and budgets-- has forced broad recognition of the inadequacies of the intended market reform policies in Russia and provided a coherent framework for understanding how and why so much of Russia's economy has resisted reform.
Author: Vlad Ivanenko
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
In the aftermath of sovereign default of August 1998, the hypothesis of virtual economy in Russia developed by Gaddy and Ickes has gained popularity. The hypothesis states that the country has not moved towards free-market economy but developed a system of implicit price subsidization similar to what had existed before. Non-viable sectors that the state supported with subsidies before survive by over-pricing their output. Customers pass the bill back to the government by reducing their tax liabilities. We test the proposition that the distribution of the value-added across sectors is biased because of price distortions and estimate the distribution at world prices. The results support the claim that Russian price structure is different from the world level and three out of fifteen sectors, for which we construct price indices, become "value-destroying". We investigate the reasons behind price differentials and find that difference in processing and the use of barter explain a large part of it.
Author: Richard E. Ericson
Publisher:
ISBN:
Category :
Languages : en
Pages : 49
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Book Description
The Russian Economy has evolved into a hybrid form, a partially monetized quasi-market system that has been called the virtual economy. In the virtual economy, barter and non-monetary transactions play a key role in transferring value from productive activities to the loss-making sectors of the economy. We show how this transfer takes place, and how it can be consistent with the incentives of economic agents. We analyze a simple partial-equilibrium model of the virtual economy, and show how it might prove an obstacle to industrial restructuring and hence marketizing transition.
Author: United States. Congress. House. Committee on International Relations
Publisher:
ISBN:
Category : Economic assistance, American
Languages : en
Pages : 222
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Author: Ian Jeffries
Publisher: Routledge
ISBN: 1136870652
Category : History
Languages : en
Pages : 660
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Book Description
The rapid changes in Russia since the collapse of the Soviet Union are often bewildering, with many frequent, highly significant changes in the different sectors of the economy and the political system. There have been frequent changes of personnel in government and economic management and many changes have been reversed - and sometimes forgotten, or at other times reinstated. What happened when? Who was responsible for what? Did such a change in one sector precede or follow a particular change elsewhere? These are points not easily remembered. This book provides full details of the many changes, and enables sense to be made of what would otherwise be a confusing situation. Developments are arranged chronologically by sector, and the book is unusual in extensively chronicling both economic and political developments and the crucial connections between them. There is a generous introduction and overview to help the reader find his or her way around. The material covers the period up to late autumn 2000, and thus offers a valuable guide to policies in the Putin era.
Author: Erik Berglöf
Publisher: Centre for Economic Policy Research
ISBN: 9781898128441
Category : Economics
Languages : en
Pages : 68
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Book Description
On August 17, 1998, the Russian economy was finally punished for the delays in reforms, the lack of fiscal discipline and the overvalued exchange rate: the government was forced to devalue the ruble and default on its debt obligations. This Report discusses the policy options for rebuilding the Russian economy in the light of those traumatic events, their underlying causes and the deep flaws they exposed in the process of reform. The Report draws on new work by economic researchers at the Russian European Centre for Economic Policy (RECEP) in association with a range of top international scholars. It explores the long-term policy challenges in key areas of the Russian economy, including fiscal and monetary policy, the labor market, the financial sector, industrial restructuring and the barter economy.
Author: Michael Ellman
Publisher: Anthem Press
ISBN: 1843312174
Category : Business & Economics
Languages : en
Pages : 231
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Book Description
Explores the role of Russian oil and gas in the Russian economy.
Author: United States. Congress. House. Committee on Banking and Financial Services
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 200
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Book Description
