Belarusian
EconomicJournal
Quarterly scientific and practical journal
Published since 1997
No 4● 2016
RESUME
COOPERATION BETWEEN RUSSIA AND THE CIS COUNTRIESIN THE CONTEXT OF MODERNIZATION OF THE NATIONAL ECONOMIES
Leonid Vardomskiy1, Artem Pylin1, Alexey Shurubovich1
Author affiliation: 1Institute of Economics of Russian Academy of Sciences (Moscow, Russia)
Corresponding author: Artem Pylin ()
ABSTRACT. In the article estimation of approaches of the CIS countries to modernization of their economies with regard for the economic potential is given. On the basis of a number of indices three groups of countries by the dynamics of modernization processes are picked out. It is shown that modernization influence of Russia on the countries for 2000–2015 was selected and became gradually weaker. Influence of the CIS countries on modernization of Russia is extremely limited. Activization of processes of the Eurasian integration through broadening of the project approach will permit to strengthen mutual modernization influence.
KEYWORDS: CIS countries, Eurasian integration, Russia, economic modernization, resources, cooperation, complementarity, joint hrojects.
JEL-code: F14, F21, O19, O57.
Received 8.11.2016
UKRAINE: OLIGARCHIC TRAP OF DEVELOPMENT
IN THE CONTEXT OF INSTITUTIONAL TRANSFORMATIONS
Yuri Kindzers’kyi1
Author affiliation: 1Institute for Economics and Forecasting Ukrainian National Academy of Science (Kyiv, Ukraine).
Corresponding author: Yuri Kindzers’kyi ().
ABSTRACT. The paper focuses on the problems of property relations transformation in Ukraine. Shown are the drawbacks of denationalization that led to the formation of an oligarchy and institutional oligarchic traps. Disclosed are the oligarchization’s negative consequences in the context of creating prerequisites for the effective functioning of the property institution. Recommendations are given for its further reformation based on the idea of forming a rational proportion between public and private property and overcoming oligarchism, as well as developing the priority sectors of the economy and inclusive development of society taken on the whole.
KEYWORDS: oligarchy, institutional trap, the privatization of state, property rights, strategic property.
JEL-code: E61, D02, D73.
Received 1.11.2016
SMALL OPEN ECONOMY IN THE CONTEXT OF GLOBALIZATION
Vyacheslav Yaroshevich1
Author affiliation:1International University «MITSO» (Minsk, Belarus).
Corresponding author: Vyacheslav Yaroshevich ().
ABSTRACT. The paper discusses the main approaches to determining the parameters of a small open economy. Suggested are various options of classifying the countries with such economic systems. The study of the political and economic aspects of various regions’ development leads to the conclusion about insufficient substantiation of referring relatively medium sized West-European countries to the category of small. Many former socialist countries, which have a small open economy, are quite different from most other countries with similar economic parameters. These differences determine not only the nature of the impact of globalization on the former socialist countries, including the Republic of Belarus, but also on the prospects for their sustainable socio-economic development in the long term.
KEYWORDS: small open economy, globalization, transformation, competitiveness.
JEL-code: F40, F12, F63.
Received 7.06.2016
EVALUATION OF THE COUNTRIES’ DEGREE AND «PARTICIPATION QUALITY» IN GLOBAL VALUE CHAINS
Olga Kolb1
Author affiliation:1Belarus State Economic University (Minsk, Belarus).
Corresponding author: Olha Kolb ().
ABSTRACT. Based on the accounting system of the added value of international trade, there was made a review of the participation of a number of major economies in the process of creation, distribution and consumption of value added. Used in the TiVA methodology (Trade in Value Added) indicators are classified into groups with the possibility of their calculation according to national statistics. The generalized results in the context of the countries’ economies have enabled to estimate the extent and quality of their integration into global value chains.
KEYWORDS: global value chains (GVC), trade in value added (TiVA), tables «Input-Output», domestic value added embodied in gross exports.
JEL-code: C67, O57, D57, F14.
Received 8.11.2016
BELARUS’S CURRENT REGIONAL POLICY
Anatoly Bogdanovich1
Author affiliation:1Economic Research Institute of the Ministry of Economy of the Republic of Belarus (Minsk, Belarus).
Corresponding author: Anatoly Bogdanovich ().
ABSTRACT. Considered are the most important directions of regional policy at various stages of the formation of the Republic of Belarus as a sovereign state, which were determined in the National Strategy for Sustainable Development and the programs of the country’s socio-economic development. Analyzed are the rates and ratios, as well as the current problems of socio-economic development of country’s regions. Shown are new approaches for improving regional policy and the development of the regions stipulated by the National Strategy of Sustainable Development (NSSD-2030) and the Main Provisions of Belarus’s Program of Socio-Economic Development for the period of 2016–2020.
KEYWORDS: region, program, strategy, sustainable development, policy, forecast.
JEL-code: R58.
Received 26.08.2016
DEVELOPING METHODOLOGICAL INSTRUMENTARIUM OF ASSESSING COMPETITIVE ENVIRONMENT DEVELOPMENT IN REGIONS’ ECONOMY SECTORS
Ivan Vokhmyanin1
Author affiliation:1Institute of Socio-Economic Development of territories of Russian academy of sciences (Vologda, Russian Federation).
Corresponding author: Ivan Vokhmyanin ().
ABSTRACT. The paper provides the description of the author’s methodology for assessing competitive environment development in regions’ economy sectors, as well as its approbation based on the materials of the North-Western federal district (Russia) within the «construction» sector. The methodology is based on such crucial indicators of the economy’s development as investment in the fixed capital, expenditures on information and communication technologies, remuneration of labor, volume of orders for the output supply, and dynamics of the amount of organizations. The integral indicator computed on their basis determines the sector’s ranking with regard to the level of competitive environment development in the region.
KEYWORDS: methodology of assessment, competitive environment, North-Westerm federal district. Economy sectors, construction.
JEL-code: C13, C18, C82, L40, O12.
Received 5.10.2016
Living Labs as a tool of open innovations in networks
marina slonimska1
Author affiliation:1The State Scientific Institution «The Institute of Economics of the National Academy of Sciences of Belarus» (Minsk, Belarus).
Corresponding author: marina slonimska ().
ABSTRACT. The article analyzes the essence and history of the Living Lab phenomenon, the role and place of Living Labs in the theory and practice of open innovation. The possibility of applying of this type of networks as tools of territorial development and building integrated supply chains in industry sectors was demonstrated. The approaches to the classification of Living Labs on the basis of their specific features and distinctivecharacteristics are developed. It was considered about the need to use Living Labs as services, stimulating the development of network forms of technological and economic interaction.
KEYWORDS: Living Lab, open innovation, networks, public-private partnership, information services, supply chain
JEL-code: O31, O32.
Received 18.07.2016
Theory of contracts: a search of the optimal motivational model in the researches
by Oliver Hart and Bengt R. HolmstrÖm
Victor Vorobiev1, Tatiana Maibarada1
Author affiliation:1Belarus State Economic University (Minsk, Belarus).
Corresponding author: Victor Vorobiev ().
ABSTRACT. Oliver Hart’s and Bengt Holmström’s contributions to the development of contract theory are сonsidered.
KEYWORDS: contract theory, moral hazard model, informativeness principle, multi-tasking model, career-concerns model, incomplete contract, theory of the firm.
JEL-code: B21, B31, D21, D86, G30.
Received 21.11.2016
COMPARATIVE ANALYSIS OF COMPOSITION
AND STRUCTURE OF INDUSTRIAL EMPLOYEES
IN BELARUS AND SWEDEN: CONCLUSIONS FOR BELARUS
Aleksei Korotkevich11, Boris Lapko1
Author affiliation: 1Belarusian state university (Minsk, Belarus).
Corresponding author: Aleksei Korotkevich ().
ABSTRACT. The paper contains the analysis of the composition and structure of Belarus’s and Sweden’s workforce in industry by job clusters. Based on the comparative analysis, identified are the criteria of optimization of Belarus’s industry’s work force. Suggested are the directions of its provision in the context of the transformation of the national economic system.
KEYWORDS: professional composition, workforce in industry, labor productivity, employment structure, job clusters, professions, specialists, engineers.
JEL-code: J82.
Received 8.04.2016
MATHEMATICAL MODELS OF ANALYSIS
AND FORECAST OF FINANCIAL ASSETS DYNAMICS
Gigla Chitaya1, Artem Tarasyuk1
Author affiliation: 1Belarussian State Economic University (Minsk, Belarus).
Corresponding author: Artem Tarasyuk ().
ABSTRACT. The papers substantiates the creation and realization of a set of mathematical models and instrumental means of processing long temporal sets of financial assets generated by nonlinear dynamics of dependencies in their structure. Grounded and instrumentally supported are the computational procedures of applying methods of analysis of nonlinear dynamics of financial assets, assessment of the degree of their temporal sets randomness, as well as identifying hidden cyclic recurrence with the help of algorithm of singular spectral analysis complemented by the Grassberger-Procaccia method and raising the preciseness of forecasting exchange rate value of the issuing companies’ shares.
KEYWORDS: financial assets, quasi-periodicity, nonlinearity, multi-dimensional set of vectors, embedding dimension.
JEL-code: C69, G11.
Received 1.03.2016
USING REAL OPTIONS IN THE ORGANIZATION’S
REPUTATION PROJECT PLanning
Vitaliy Doroshko1
Author affiliation:1Belarusian Trade and Economic University of Consumer Cooperatives (Gomel, Belarus)
Corresponding author: Viatliy Doroshko ().
ABSTRACT. The paper deals with the issue of instrumental applicability of real options in the reputation project planning of Belarus’s organizations. The problem area of the research is tightening the terms of competing on foreign markets and, as a consequence, the necessity of developing new, communication-value strategies of interaction with stakeholders and forecasting their productivity. The application of classic linear methods of investment analysis oftentimes «neglects» the facts of generating cash flows from unidentified in accounting nontangible products of reputation project planning, which in turn makes the project planning initiative per se devalued and economically inexpedient. Real options, to a large extent, make up undocumented but likely income sources and enable to evaluate the prospects of the project in a more in-depth and precise way, which adds to the accuracy of making strategic governance decisions.
KEYWORDS: business reputation, reputation project planning, real options, stakeholders.
JEL-code: С53; D81.
Received 22.04.2016