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2021. vol. 25. No. 3
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359–378
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This paper analyzes economic inequalities in the access to such assets for remote learning as internet connection and personal computers at home in BRICS countries among young students (15–24 уears old). It is acknowledged that such household possessions as the internet and personal computer obtain a new role during the COVID-19 pandemic when the educational institutions are closed and in-person classroom instruction is disrupted. Data from household surveys collected from 2015 to 2019 show sharp differences between and within BRICS countries regarding access to these assets for remote learning. In addition to between-country inequalities, the analysis suggests that within-country disparities are also staggering, especially regarding an area of residence and wealth quintile groups, putting at risk the education of youth from most impoverished and rural backgrounds. Econometric application of concentration curves and estimation of concentration indices reveals household wealth as an essential driver of economic inequality in the access to remote learning amongst young students in BRICS countries, highlighting the critical degree of inequality in India and South Africa. The findings suggest that the more universal the access to remote learning is, the less economic inequality is observed in accessing remote learning modalities. In other words, policy implications aimed at expanding digital infrastructure could help ensure that young women and men are not falling behind in receiving a quality education, gaining relevant skills, and accessing decent employment opportunities. For BRICS countries to transform their economies and lead innovations, a digitally literate future workforce is critical, with access to digital resources being a first step towards achieving this. Inequalities in access to these tools show that BRICS countries have more to do before all youth can be connected and participate in a digital economy. |
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379–402
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The paper analyzes the factors affecting the tuition fee in Russian public higher education institutions. The purpose of the study is to identify pricing factors and measure their influence on tuition fees at bachelor and specialist educational programs. The relevance of the research is characterized by the need for effective pricing policy tool for public universities with consideration of their peculiarities and external factors. Empirical basis of this research is formed by Monitoring of enrollment quality at Russian universities – 2018 and Monitoring of performance of Russian higher education institutions – 2018. More than five thousand observations in the context of educational programs have been analyzed via multiple log-linear regression. The key limitations of the study are database specification, that excludes the information on private universities and their branches, and a wide qualitative indicators dispersion within enlarged groups caused by the heterogeneity of Russian educational space. Regression analysis results shows a significant influence of external factors on the tuition fees in Russian public universities with the absence of ability to affect them. Particularly, social and economic indicators of the region, competition level in the local markets, as well as the volume of state funding create a significant influence on tuition fees. The influence is supported by two basic external factors: low solvent demand for tuition-based educational services from population and the presence of two gravity centers among the heterogeneity of the Russian educational space – Moscow and Saint Petersburg. |
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403–422
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This paper presents new estimates of the returns to education in the Russian Federation using data from 1994 to 2018. Russia is a highly educated country,and the level schooling continues to increase. More than one-third of the labor force possesses a post-secondary qualification. Our analysis confirms previous studies showing a growth in the overall returns to schooling during the post-transition period. Although the returns to schooling increased for a time, they are now much lower than the global average. Private returns to education are three times greater for higher education compared with vocational education, and the returns to education for females are higher than for males. Returns for females show an inverse U-shaped curve over the past two decades. To control for endogeneity, we also present the estimates of the returns to schooling using instrumental variables, namely, parental socio-economic status and regional dummies. The causal estimates present a much higher rate of return, at 14 percent for females and 8 percent for males. Female education is a policy priority and there is a need to investigate the labor market relevance of vocational education. Higher education may have reached an expansion limit, and it may be necessary to investigate options for increasing the productivity of schooling. |
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423–451
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The aim of our study is to assess the impact of companies disclosing corporate social responsibility (CSR) issues on stock quotes. The research methodology includes panel regression, text analysis, and analysis of quantitative indicators of information disclosure on the social, environmental, and institutional spheres of the annual reporting of companies. In the framework of this study, a dictionary, which was designed as a library R, was compiled to evaluate CSR indicators based on international standards. The empirical base of the study included data from 16 Russian large listed companies from 2014 to 2018, whose capitalization is more than 60,2%. The results of our study showed that CSR indicators affect the price of a company's shares, so, based on a quantitative analysis, we identified: 3 social indicators (loss of work injury rate and sponsorship costs (sports projects)), 6 institutional indicators (duration of work of members on the Board of Directors (less than 3 years and from 2 to 5 years), the composition of independent and non-executive directors, the total amount of remuneration of the board of directors and the head) and 2 environmental indicators (emissions of pollutants into the atmosphere and the total volume of wastewater discharges). Based on the text analysis, it was revealed that the share price is influenced by a more complete disclosure of social issues and the disclosure of information on the environment and the institutional sphere. Quantity number of words and average word length in the text of annual reports. The author's dictionary developed within the framework of this study and the indicators identified, the disclosure of which affects the company's share price, have not only theoretical, but also, to a greater extent, practical significance for top managers of companies and employees involved in writing sustainability reports and annual reports and they can also be used in further research on the impact of non-financial information on the share price. |
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452–477
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The article presents an assessment of the consequences of the introduction of Carbon Border Adjustment Mechanism (CBAM) by the European Union on the Russian economy. The concept of Carbon Border Adjustment Mechanism, which is currently being actively discussed and approved by the authorities of the European Union in the context of combating climate change, will represent a payment on the import of goods into the European Union, the production of which is associated with greenhouse gas emissions. Since the European Union is one of the most important destinations for Russian exports, the introduction of this mechanism can have a significant impact on the profits of Russian exporters and, accordingly, on the Russian economy as a whole. The paper presents the results of calculating the losses of the Russian economy due to the introduction of CBAM taking into account different options for possible extension of the mechanism in terms of affected products and scope of emission covered. Both direct CBAM payments and cumulative losses of Russian economy are assessed. Calculation of direct payments is based on data on the carbon intensity of Russian products. Payments are estimated to vary between 50,0 bln euro and 72,3 bln euro during 2026-2035 period. The calculation of indirect losses is based on supply and use tables and allows to assess, at the industry level, the effects associated with the price growth for intermediate products that fall under the scope of CBAM and effects associated with decrease of output of those products that are not covered by CBAM, but used in the production chains of the goods, falling under this mechanism. |
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478–503
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Understanding the pricing behavior of firms at micro-level is the crucial aspect of effective monetary policy. This study implements the approach of direct survey of top management of firms about key pricing practices conducted by the Center for Sociological Research of the Institute of Social Sciences of the Russian Presidential Academy of National Economy and Public Administration in 2020. According to the survey results, firms typically set prices independently, and the most common pricing principle is cost-plus pricing. A large proportion of respondents (47%) adhere to strict regularity in price revisions, which could contribute to the persistence of inflation at the macro level. The frequency of price revision of the median firm is monthly, while firms from trade and construction industry, large firms, as well as firms with more than 20 direct competitors revise prices more often than other firms. The main reason for setting new prices is changes of firms’ costs. The existence of contracts with customers plays an important role in explaining price rigidity. An asymmetry in the reaction of prices to shocks of different nature and direction is revealed, and the factors of this asymmetry are considered. |
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