Test ing Kuznets' hypothesis for Russ ian regions: Trends and interpretations

The paper established a number of "stylized facts", one of which is a confirmation of the S. Kuznets' hypothesis of the nonlinear dependence between the degree of inequality in income distribution and welfare economic systems on the example of a group of Russian regions for the period 2002-2012. It is shown that, for a given sample, the welfare and economic growth factors amplify their influence on inequality in income distribution in the post-crisis period. The monotonous growth of income inequality which was observed before the crisis of 2008 is slowing in the process of raising the per capita gross regional product (GRP) during the post-crisis period, and for the foreseeable future, in some regions, its direction can be reversed, while maintaining a trend of socio-economic development. Despite the persistence over time of a convex nature of S. Kuznets' curve for Russian regional data, its parameters changed during the reporting 2002-2012 period. The maximum point of the curve shifts to the left, its convexity increases. These facts indicate that the income inequality growth of the Russian regions' as a result of growth of per capita GRP is slowing. For some regions in the post-crisis period, the income inequality does not grow with the growth of per capita GRP, or it even reduces. This fact can be attributed to the implementation of the Russian federal socially oriented projects and programs in recent years. The results can be used for the development of regional economic policy in order to regulate the level of income distribution inequality in the regions of Russia

Import substitution and integration processes of corporate management as tools for competitiveness development of the Russian regions under modern conditions

Objective: to identify and systematize the key factors of international competitiveness of the Russian regions and identify the key areas of its improvement. Methods: institutional and systemic approaches, factor and comparative analysis. Results: The key current problems of agriculture in Russia are highlighted; promising areas of support to Russian agriculture under the WTO restrictions are identified. The Republic of Tatarstan is viewed as an example, as it has the potential to become a food donor of federal significance. The model of the import substitution project implementation is formed, in which a сentral place belongs to the regional import substitution strategy. Scientific novelty: a high potential of WTO "green basket" measures in the sphere of the Russian agro-industrial complex support is grounded. The model of import substitution project is constructed, based on the regional import substitution strategy, which includes interaction with the project stakeholders and takes into account the impact of internal and external institutional environments on the project. Practical value: the research results can be used for the formation of the federal program of import substitution in Russia, as well as for the formation of regional strategies of import substitution

A Generalization Of Lattice Specifications For Currency Options

This article revisits the topic of two-state pricing of currency options.  It examines the models developed by Cox, Ross, and Rubinstein, Rendleman and Bartter, and Trigeorgis, and presents two alternative binomial models based on the continuous and discrete time Geometric Brownian Motion processes respectively.  This work generalizes the standard binomial approach incorporating the main existing models as particular cases.  The proposed models are straightforward, flexible, accommodate any drift condition and afford additional insights into binomial trees and lattice models in general.  Further, the alternative parameterizations are free of the negative aspects associated with the Cox, Ross, and Rubinstein model

Estimation of the impact of large regional investment projects on the regional development on the example of Universiade-2013

© 2015, Mediterranean Center of Social and Educational Research. All rights reserved. The work reveals and classifies the main socio-economic consequences of large international competitions. The impact of a large international sporting event on the socio-economic development of the host region is characterized with the institutional approach on the example of Universiade 2013 in Kazan. The impact of the Universiade on the socio-economic development in Tatarstan is estimated by economic sectors. In particular, the construction industry, hospitality industry, tourism, education in the Republic of Tatarstan are considered

PREREQUISITES OF INSTITUTIONAL ENVIRONMENT DEVELOPMENT OF THE CORPORATE SECTOR IN RUSSIAN ECONOMY

The article reveals and analyzes the prerequisites of institutional environment development of the Russian economy corporate sector. The reasons and prospects of integrative processes in the Russian economy are studied. The specific features of the main forms of strategic partnership and their development in Russia are examined

SATISFYING STAKEHOLDERS' INTERESTS AS A STRATEGIC ASPECT OF CORPORATE MANAGEMENT

The article elaborates and grounds the universal mechanisms of a corporation's cooperation with its stakeholders. It is also proved that this direction of reforming of the Russian corporate management institution is very promising. The efficiency of taking into account of the corporation's stakeholders' interests is grounded basing on the example of a functioning industrial enterprise

QUALITATIVE EVALUATION OF THE IMPACT OF INTERNATIONAL COMPETITIVENESS FACTORS OF THE RUSSIAN REGIONS

Objective: to identify, classify and quantify the influence of key factors of international competitiveness on the Russian regions and to determine the main directions of its improvement. Methods: institutional and systemic approaches, factorial and comparative analysis, econometric modeling tools. Results and scientific novelty: basing on empirical data of the 30 most economically developed Russian regions, the econometric models are elaborated for quantitative evaluation of the factors of their international competitiveness. The basic directions of increasing the international competitiveness of Russian regions are revealed. Practical value: the basic directions of increasing the international competitiveness of the Russian regions are presented and substantiated: infrastructure development, business climate, regional institutional environment, and improving the quality of state management at regional level. They allow to elaborate a complex of practical measures for solvingthe above problem

ESSENTIAL CHARACTERISTICS OF TRANSACTION EXPENSES IN EDUCATION SPHERE

The article presents the results of study of conceptual framework of transaction expenses conception, gives some classifications and typology of transaction expenses and introduces some features of transaction expenses in the educational institution. The authors used the institutional approach in the work

IN-HOUSE INSTITUTIONS AS A CORPORATE MANAGEMENT TOOL

The work gives the social-economic characteristic of in-house institutions connected with innovations management and human capital of a corporation

IDENTIFICATION AND REGISTRATION OF FEATURES AND MODERN TRENDS OF CORPORATE MANAGEMENT DEVELOPMENT IN RUSSIA

The article presents the modern model of corporate management in Russia and its specific character; trends and perspectives of tools and corporate management institutions' development in Russia