The Principal Conflict in Contemporary Russian Economic Thought: Traditional Approaches Against Economics

The work deals with the ideological clashes in Russian economic thought after 1991. Based on Schumpeter's distinction between economic analysis and economic thought, the paper focuses on a principal conflict that divides a new generation of Westernminded scholars and traditional Russian political economists. This conflict, on the one hand, is described as an attempt of traditional political economists to keep their positions at the economic departments of the universities. The most vivid manifestation of the resistance to economics is the so-called Tsagolov School at Moscow State University. On the other hand, the conflict might be regarded as the reaction of Russian nationalism to the penetration of ?alien? influences that are rather incompatible with the antiindividualist traditions of Russian social thought. The movement towards the creation of a ?national political economy? based on holism and etatism is seen not only as an expression and a by-product of resistance to methodological individualism in economics, but also as implicitly state-induced ideological efforts in a period of transition to an autocratic regime in Russia

The Importance of Equity Finance for R&D Activity – Are There Differences Between Young and Old Companies?

This paper analyzes the importance of equity finance for the R&D activity of small and medium-sized enterprises. We use information on almost 6000 German SMEs from a company survey. Using the intensity of banking competition at the district level as instrument to control for endogeneity, we find that a higher equity ratio is conducive to more R&D for young but not for old companies. Equity may be a constraining factor for young companies which have to rely on the original equity investment of their owners since they have not yet accumulated retained earnings and can relay less on outside financing. The positive influence is found for R&D intensity but not for the decision whether to perform R&D. Equity financing is therefore especially important for the most innovative, young companies

The Protestant Fiscal Ethic: Religious Confession and Euro Skepticism in Germany

During the European sovereign debt crisis, most countries that ran into fiscal trouble had Catholic majorities, whereas countries with Protestant majorities were able to avoid fiscal problems. Survey data show that, within Germany, views on theeuro differ between Protestants and Non-Protestants, too. Among Protestants, concerns about the euro have, compared to Non-Protestants, increased during the crisis, and significantly reduce their subjective wellbeing only. We use the timing of survey interviews and news events in 2011 to account for the endogeneity of euro concerns. Emphasis on moral hazard concerns in Protestant theology may, thus, still shape economic preferences

Top-Down vs. Bottom-Up: The Long-Term Impact of Government Ideology and Personal Experience on Values

This paper studies the long-term impact of societal socialization on values using the example of doping behavior in sports. We apply the German Reunification Approach to the microcosm of Berlin and exploit its 40-year long division into a capitalist and a communist sector. We deliberately chose attitudes toward doping to test the impact of ideology on values since (i) post-1989 disappointed economic hopes did not confound doping attitudes, and because of (ii) the systematic GDR state doping activities that became public in reunified Germany in the 1990s. Our findings demonstrate that even after half the time the division lasted, e.g. 20 years after the reunification, differences in convictions continue to persist. Personal extramural sports experience and age are equally strong predictors of individual attitudes and beliefs, especially in interaction with ideological socialization

Ethnic Concentration and Extreme Right-Wing Voting Behavior in West Germany

Using data from the German Socio-Economic Panel (SOEP) and administrative data from 1996 to 2009, I investigate the question whether or not right-wing extremism of German residents is affected by the ethnic concentration of foreigners living in the same residential area. My results show a positive but insignificant relationship between ethnic concentration at county level and the probability of extreme right-wing voting behavior for West Germany. However, due to potential endogeneity issues, I additionally instrument the share of foreigners in a county with the share of foreigners in each federal state (following an approach of Dustmann/Preston 2001). I find evidence for the interethnic contact theory, predicting a negative relationship between foreigners' share and right-wing voting. Moreover, I analyze the moderating role of education and the influence of cultural traits on this relationship