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STRATEGY AND TACTICS OF REFORM |
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PROBLEMS OF THEORY
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ENTERPRISE REFORM |
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REFLECTIONS ON THE BOOK |
- A. Nekipelov, A. Sheinin - Management and Efficiency of Company Performance (On the Text-book "Managing Modern Company")
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NOTES AND LETTERS |
- V. Ivanchenko - Globalization and Public Mentality
Abstracts
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M. ERSHOV. On Some of the Stereotypes in Economic Policy
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The article considers some of the basic mechanisms and approaches of the current economic policy. The given examples from the experience of the industrial countries show the differences in approaches to the similar problems in Russia and in the "western" world. The question about the feasibility of the overly dependence of the internal economic developments (i.e. economic growth, investments) on oil prices or world financial markets has been raised. A more balanced approach, not hampered by stereotypes, or consideration of "common knowledge" is now required.
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YU. OL'SEVICH. "The Non-orthodox View" of W. Baumol
on the Achievements of the Economic Science
in the XX Century and Its Tasks
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The analysis of the argumentation in the work of the eminent American scholar leads the author to the conclusion that the western theory of the XX century, despite its elaboration of the macrotheory and important contributions to the microtheory, does not fulfil the central task - to create the theory of the innovative growth machine, thus explaining the capitalism successes after World War II. In the opinion of the author based on the data and arguments, delivered by Baumol, the theory of innovative growth must be elaborated in the XXI century leaning on the main achievements of the economic science in the last century (contributions of the empirical and applied research, the new institutionalism included). The comments are given on Baumol's conclusions about the interaction between the economic science and the government policy, - an actual topic for Russia.
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I. RUDAKOVA. On Applicability of the Language of the Economic
Theory and Basic Economic Models for the Analysis
of the Russian Economy
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The author rises a question whether the tools of the economic analysis developed on the basis of the realities of Western economy, are suitable for the analysis of economic processes in Russia. According to a widespread opinion the complexity of formation of the market relations in our country are explained by the certain "Russian specifics" (moreover with a negative sign). In the author's view, the models developed within the basic flow of economic thought describe a wide enough circle of economic processes, many of which are similar to those occurring now in Russia. As for the concrete situation, including Russian, it is possible to pick up a completely adequate model. And the difficulties with construction of the market in Russia are caused by not the "specifics" but the inertia of the system. It is impossible to break principles of behavior of the people - the main element of the economic system - instantly.
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A. BUZGALIN, A. KOLGANOV. Economy: "The Periodical System Of Elements"
(On the Structurization and Typologization
of Economic Systems)
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The authors present a new approach to the comparative analysis of economic systems. The structure of an economic system consists of the basic elements, such as the mode of allocation of resources, the system of ownership, the mode of coordination, etc. Those elements and their systems are classified in the form of a so called "periodical system", where each economic system receives its own "address" in n-measured economic space and time. Analytical and prognostic functions of this model are investigated. So, economic systems appear to be historically determined combinations of such elements as periodically changing systems. Authors hope that this approach can serve as a good basis for comparative research.
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The Russian Federation after the 1998 Сrisis:
Towards "Win-win" Strategies for Growth and Social
Protection (The World Bank Report)
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Following the 1998 crisis, it has become painfully obvious that Russia has little choice but to harden budget constraints for enterprises, both as a stimulus to restructuring and economic growth, and to achieve fiscal sustainability. This paper reports the findings of a study to gauge the potential social impact of hard budgets based on a formal survey of 60 enterprises, 300 workers and 300 ex-workers in three regions (Ivanovo, Kaluga, and Tula oblasts). It finds that the incremental social impact of hard budgets is likely to be low. Indeed, the post-crisis combination of gradually hardening budgets and a competitive real exchange rate is having positive impacts on the behavior of local government as well as enterprise managers that could be translated into a win-win strategy for achieving growth based on enterprise restructuring while also offering workers better opportunities in the job market.
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R. KAPELYUSHNIKOV. Ownershiup and Control in the Russian Industry
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The paper examines results of a special enterprise survey on evolution of ownership structures and patterns of control in the Russian industry conducted in 2001 by "The Russian Economic Barometer". The survey is a part of a special monitoring scheme launched by REB in 1995. The author analyses the impact of different ownership profiles, concentration of shareholdings, intensity of share redistribution, tenure of top executives and their turnover on enterprise performance. The contemporary Russian economy suffers from huge inefficiencies due to both widespread managerial opportunism and expropriating behavior controlling blockholders. Under such conditions concentration of shareholdings in the hands of a narrow group of active investors might minimize costs of both types. Empirical analysis confirms that companies with medium concentration of ownership outperform companies with dispersed or highly concentrated ownership structures.
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A. BATYAEVA. Dynamics of Order-book Level and Behavior of
Industrial Enterprises
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The article deals with enterprises' reaction to demand changes. The author examines the dynamics of enterprises' order-book level in 1998-2000 and corresponding changes in economic and financial indicators of their performance. The analysis is based on microdata. The main conclusion is that enterprises with stable demand demonstrate at least the same efficiency of their performance, as enterprises with increased demand. The first ones (with stable demand) have the biggest share of profitable producers, they are the best in planning their investment activity, they are more oriented on collaboration with banks, and none of them requests government support.
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