• L. Abalkin — On a New Concept of Long-term Strategy
• V. Makarov — On Economic Development and Other Issues in the Context of Future Achievements in Science and Technology
• A. Nekipelov, Yu. Goland — From Freezing to Investing: New Approaches to Monetary and Currency Policies
• R. Grinberg — Russian Structural Policy: Between Inevitability and Uncertainty
• N. Petrakov — Property Rights Strengthening: Transformation without Destruction
• A. Rubinstein — The Strategy of "Social Imperative"
• S. Sitaryan, I. Ivanov — Foreign Trade Priorities

• R. Kapelyushnikov — Ownership without Legitimacy?
• L. Polishchuk, O. Shchetinin, O. Shestoperov — Intermediaries between Private Sector and the Government: Helping Business or Participating in Corruption?

• V. Tambovtsev — The Goals of Socio-economic Development of Russia in Four Strategies
• A. Shastitko, M. Ovchinnikov — Budgeting in Socio-economic Development Strategies (Raising a Problem)

• Velikhov E. P., Betelin V. B., Kushnirenko A. G. Industrial Policy, Innovations, Mass Information Technologies, National System-forming Companies
• Orlov A. V., Sokolov M. S. Commerce — Trade Entrepreneurship — Intersectoral Complexes: Organization and Regulation (Russian and Foreign Experience)

Abstracts

The authors point out that the local market crisis — on the USA substandard loan market — has led to the uncertainty of the world financial market. It has caused the growing demand for liquidity in the framework of the world financial system. The Russian banking sector seems to be more stable under negative changes than banking systems of other emerging markets. At the same time one can assume that the crisis will become the factor of qualitative shift in the character of the Russian banking sector development — the shift from impetuous to more balanced growth.

The article analyzes the mechanism of price change under conditions of "Dutch disease" using the model of centrally planned open economy — net exporter of raw materials. Characteristics of this mechanism are investigated when growth of raw material resources as well as external trade prices increases take place. If the three principles of monetary policy are fulfilled, then, firstly, growth of raw material resource causes increase in price and wage levels in case of zero output of tradable product, and, secondly, the growth of raw material prices leads to increase in price and wage levels in case of any output of tradable product. However, the inflation is caused not by "Dutch disease" itself, but by the rigidity of prices, wages and exchange. It is possible to reduce the inflation by lowering taxes on wages or subsidizing them from rental budget income. А non-monetary anti-inflation package for Russia is recommended.

The appeals to minimize state intervention in the Russian economy are counterproductive. However the excessive involvement of the state is fraught with the threat of building nomenclature capitalism. That is the main idea of the series of articles by prominent representatives of Russian economic thought who formulate their position on key elements of the long-term strategy of Russia’s development. The articles deal with such important issues as Russia’s economic policy, transition to knowledge-based economy, basic directions of monetary and structural policies, strengthening of property rights, development of human potential, foreign economic priorities of our state.

The paper examines the problem of legitimation of the privatization’s outcomes in Russia and provides a critical appraisal of various political proposals for its resolution. The analysis proceeds from a distinction between two different types of ownership illegitimacy: "definite" and "vague" ones. The paper argues that the "vague" illegitimacy that has evolved in Russia is not an absolute obstacle for economic growth but rather an institutional birth trauma which is common for all post-socialist countries and which could be cured only by piecemeal approaching of relationships between "strong" and "weak" economic actors to principles of fair play.

The paper explores economic implications of the presence of intermediaries assisting private individuals and firms in meeting government rules and regulations. Conventional advantages of intermediaries include gains due to specialization and the economy of scale; however if government service is affected by corruption, intermediaries in addition allow to reduce "transaction costs" of corrupt agreements and in particular — the risks of exposure of such illicit dealings. It is shown that in such circumstances intermediaries benefit corrupt bureaucracy, possibly at the expense of the private sector. Results of surveys conducted in recent years are used in describing the present state and trends in the intermediaries sector in Russia, and evidence is presented that some intermediaries indeed resort to corruption in serving their clients. The link between the intermediaries sector dynamics and deregulation and administrative reform is analyzed.

The paper considers the role of goals in the strategies of socio-economic development. The problems of choice of goals’ indicators and their influence on government administration processes are discussed. The general framework is adapted to possible goals’ systems of four strategies: "Inertia", "Renter", "Mobilization", and "Modernization". The structure of supporting goals for the latter is detailed.

The article proposes an approach to the analysis of social change and contributes to the clarification of concepts of economic policy. It deals in particular with the notion of "change of system". The author considers positive and normative aspects of the analysis of capitalist and socialist systems. The necessary and sufficient conditions for the system to be changed are introduced, their fulfillment is discussed drawing upon the historical and statistical data. The article describes both economic and political peculiarities of the transitional period in different countries, especially in Eastern Europe.