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327–352
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For diverse ethical, political and cultural reasons Russia and China have chosen to construct market systems that are incompatible with the generally competitive principles sometimes advocated by international institutions like the World Bank and IMF. The generally competitive paradigm requires unfettered individual utility seeking, where participants abide by the fairness principle of the golden rule, buttressed by the rule of law. Russia and China have embraced the laissez-faire aspect of general competition, but rejected the golden rule, and the rule of law creating a system with acute institutional and moral hazards that have not only impaired productivity and efficiency, but destabilized the economy as well. This new Russian and Chinese model can be called authoritarian laissez-faire because it empowers various state dependent elites to freely and anti-productively maximize their own utility at the expense of others. The model superficially looks much like other market economies, but by modifying just a few axioms of the laws of demand, supply and equilibration, policymakers have created culturally approved systems with perverse properties that are resistant to constructive reform. Neither Russia nor China will be able to successfully compete with golden rule abiding market systems until they embrace the generally competitive rule of law, regardless of how statistics are doctored, or policymakers tinker with privatization, liberalization and stabilization. |
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353–379
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The article is devoted to the study of Russian standardization and certification systems, which can act as technical barriers in international trade. The main purpose of the work is to identify the presence of trade barriers in the main industries and agriculture of the Russian Federation. As a result, the author obtained estimates of nominal tariff equivalents for non-tariff barriers by the method of price comparison. |
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380–394
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The paper proposes a rational predictive characteristic of the investment attractiveness of the stock market. With the help of system simulation of market behavior, the decisive role of information "transparency" of the market for its sustainable investment attractiveness is proved. |
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395–422
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This paper deals with the problems of management and forecasting of public debt of the Russian Federation, taking into account the situation after the August (1998) financial crisis. Three scenario forecasts of further development of the debt situation in the coming years depending on the degree of stabilization of the political and economic situation in the country are given. Scenario forecasts are made using a simulation mathematical model of the dynamics of public debt, which implements a scenario approach to solving management and forecasting problems. With the help of the proposed mathematical model, a scenario is found, the implementation of which will allow in the foreseeable future to bring the debt situation in Russia into line with European standards. |
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423–464
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The journal continues to publish a course of lectures on models of macroeconomics, which for a number of years is read by Professor Smirnov A.D. in the first year of master's degree at the State University of the Higher school of Economics. Lectures can be used by students and postgraduates of economic faculties of universities to study economic theory, macroeconomic modeling and problems of transition economy. |
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