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Growth and Development of China: A Developmental State ‘With Chinese Characteristics’

Growth and Development of China: A Developmental State ‘With Chinese Characteristics’

Journal of Economic Regulation, , Vol. 13 (no. 1),

The aim of the paper is twofold: 1. to examine the identities and differences of the Chinese model of the developmental and entrepreneurial state ‘with Chinese characteristics’ with the general East Asian developmental state model, and 2. to derive some perspectives for the future of the particular Chinese model of the developmental state. The paper is structured as follows. The first main section briefly discusses China’s growth performance and policies since World War II with respect to the country’s development efforts. Subsequent sections analyse aspects of the particular economic development framework of China, based on an interventionist heterodox developmental state argument, and describe some critical development policy areas that emanate from such an argument placing great emphasis on industrial targeting while taking the country’s sociocultural and politico-institutional traits into consideration. Some conclusions end the paper.

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Emerging Markets: Concepts and Determinants of Development

Emerging Markets: Concepts and Determinants of Development

Journal of Economic Regulation, , Vol. 13 (no. 1),

The gap in economic development between developed and developing economies has actualized the study of the concepts, causes, and factors of this phenomenon. Although developed economies demonstrate a high GDP per capita, emerging markets are growing at a faster rate. Emerging markets are countries with market economies and possess institutions and standards inherent in developed countries. However, the maturity and quality of these institutions do not fully comply with those in developed countries. Meanwhile, the economic growth rates of emerging markets are significantly higher than those of developed markets. This study analyzes emerging markets and the problem of their income gap compared to developed countries from various economic approaches, including classical mercantilism, liberalism, Marxism, and modern-dependency theory. In addition, the authors analyzed the role of globalization, its impact on emerging markets, and the causes of economic instability and development. Furthermore, the study considers general trends inherent in developed and developing countries and specific ones characteristic only for emerging markets.

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Decision-Making Mechanisms by Economic Agents: Evolution of Scientific Ideas

Decision-Making Mechanisms by Economic Agents: Evolution of Scientific Ideas

Journal of Economic Regulation, , Vol. 13 (no. 1),

The review article presented by the authors is devoted to the systematization and integration of scientific knowledge in the aspect of research of mechanisms of decision-making by economic agents and allows to present the currently existing scientific groundwork in the indicated subject field in a comprehensive and structured way. The presented review article aims at a comprehensive presentation and structural description of the evolutionary dynamics of the existing body of scientific ideas in the focus of research on the mechanisms of decision-making by economic agents. It is stated that the retrospective analysis is required for the detailed and comprehensive systematization of the existing scientific research on the stated problem. As a significant scientific result, the authors have constructed maps of evolution of scientific ideas in the aspect of research of mechanisms of decision-making by economic agents in retrospect and/or based on the logic of its representation in the subject field of individual directions of behavioral sciences system.

Views: 181

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The Issue of Population in The Logic of Marxist Political Economy (to The 100th Anniversary of The Publication «Reproduction and Development in Nature and Society» by K. Kautsky in Russia)

The Issue of Population in The Logic of Marxist Political Economy (to The 100th Anniversary of The Publication «Reproduction and Development in Nature and Society» by K. Kautsky in Russia)

Journal of Economic Regulation, , Vol. 13 (no. 1),

The article examines the change in the laws of population in various modes of production. This change is analyzed from the standpoint of a systemic materialist understanding of history in the general logic of the development of Marxist political economy. The article highlights the main provisions and conclusions in the book «Reproduction and Development in Nature and Society» by K. Kautsky. The study offers conclusions on the issue of population in modern times and in the conditions of a developed humanistic society.

Views: 174

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«Sanctions 2022»: The Impossibility and Ban on Regulation by The Russian State in A Blow

«Sanctions 2022»: The Impossibility and Ban on Regulation by The Russian State in A Blow

Journal of Economic Regulation, , Vol. 13 (no. 1),

The paper discusses the consequences of the sanctions and restrictions imposed in February- March 2022 by a number of foreign countries for the “ordinary consumer”. Differences in the impact of sanctions compared to the previously introduced in 2014 sanctions and counter-sanctions on ordinary consumers are discussed, the meaning of this term is clarified. The aim of the article is to analyze the consequences of collective sanctions for the Russian “ordinary consumer” and discuss the first steps to mitigate the effects of sanctions. “Sanctions 2022” is analyzed for the period from February 22 to March 10, their unprecedented nature, medium and long-term consequences are noted. Estimations of the import dependence of Russian airlines are given and missed opportunities for the period 2014–2022 for import substitution in the aviation industry are identified. The situation is characterized in terms of the macroeconomic background and changes in budgetary opportunities to support socially vulnerable segments of the population, the consequences in terms of economic security, the labor market, and the impact of rising prices for essential food products on welfare. The first government efforts to mitigate the effects of sanctions and restrictions are analyzed and recommendations are discussed on possible areas of support for the “ordinary consumer”.

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Ecological Information as A Factor in The Formation of The Institutional Environment: General Dynamics and Regional Features

Ecological Information as A Factor in The Formation of The Institutional Environment: General Dynamics and Regional Features

Journal of Economic Regulation, , Vol. 13 (no. 1),

The article substantiates the hypothesis that environmental information is the most important factor in the formation of environmentally oriented institutional environment. The need to inform the population about the state of the environment is a consequence, firstly, of the asymmetry of market information, and, secondly, of its inaccessibility, which leads to a wrong assessment by individuals of the properties of a number of goods. As such goods, as it is proved in the article, act as excess volumes of goods produced at the expense of savings on the costs associated with the prevention of negative externalities of companies in the region on the environment (purification of atmospheric air from pollutants, wastewater, waste collection and disposal). Since the market demand for this kind of benefits exceeds the volumes "desired by society", they belong to the category of "demeritorious" and their "production" must be regulated by the state and the regional community. When choosing the mechanisms of the institutional environment aimed at an ecologically oriented economy, the authors proceed from the provision that both individual and social interests are reconsolidated by the inhabitants of the region, territory. In this regard, the expansion of access to environmental information, and its content is a necessary condition for increasing environmental awareness of the population of the region, contributing to the "construction" of public interest and the construction of specific mechanisms of "soft" paternalism at the regional level. The necessity of expansion of public representation and public participation in the formation of regional public institutions - chambers, public councils under the executive bodies of the region is substantiated. It is proposed to improve the openness and democracy of the processes of formation of civil society institutions at the regional level in order to more effectively implement the function of representation of the interests of the local community in them.

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Sustainable Development Trends of Domestic Companies in The Metallurgical Industry

Sustainable Development Trends of Domestic Companies in The Metallurgical Industry

Journal of Economic Regulation, , Vol. 13 (no. 1),

In the current conditions of severe sanctions restrictions, more difficult access to capital markets in order to attract long-term investment resources, a sharp increase in the exchange rate, enterprises in the real sector of the economy faced a difficult choice of setting the priority of tasks - full financing of current activities or cutting part of costs in order to implement long-term projects, including those related to sustainable development. A number of experts have already expressed the point of view related to the fact that the sustainable development programs of domestic companies will be suspended, since the necessary resources simply will not be enough to finance them. In this article, the author, considering the concept of sustainable development, proves that for large industrial enterprises this concept has long been organically built into the overall development strategy of the enterprise, therefore, “freezing” programs related to ESG is impossible in practice, or it will lead to extremely adverse consequences for companies. On the contrary, it is during the crisis period that the main attention should be focused on observing the long-term interests of the company and the interests of its stakeholders, which will help the company in the post-crisis period become one of the industry leaders not only in Russia, but also in the world. This statement is confirmed by specific examples from the experience of a number of companies. Within the framework of this article, the main attention is focused on enterprises related to the metallurgical industry, since at the moment most of the representatives of this particular industry are included in the rating of Russian leading companies in sustainable development, and the experience of implementing the ESG principles in this industry is quite wide and represents of particular interest to consider.

Views: 176

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