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cubsEN (2)

Digitalization of the Economy: the New Role of Social Media

Digitalization of the Economy: the New Role of Social Media

Journal of Institutional Studies, , Vol. 13 (no. 2),

The article is devoted to the analysis of social networks, the role of which is constantly growing in the context of the digitalization of the economy. The Internet has become an important prerequisite for their spread. If at the beginning of 1990, even in the most developed countries, less than 1% of the population used the Internet, then by 2020 the level of its prevalence in North America and Western Europe exceeded 90%, and in the countries of East, Southeast and West Asia, and Latin America has exceeded 2/3. We live in a rapidly changing world, when the number of active Internet users exceeded 4.66 billion people in early 2021. The speed of obtaining information is currently an important factor in economic activity. Therefore, contacts are growing rapidly, which is reflected in e-mail, which has become an integral part of modern life, pushing far back other forms of communication (newspapers, mail, telegraph, etc.). The rapid acceleration of conflicting information increases the risk of decision-making, many of which must be made in the face of uncertainty. With the growth of social networks, the density of contacts increases and the importance of a fuller use of network benefits increases. Not only is the number of participants changing, but so is the quantity and quality of the most popular websites. Citizens of modern states are more informed than their previous generations. Conducting an electoral system under such conditions turns out to be a task with many unknowns. In these conditions, voting manipulation takes on new features, which were clearly manifested during the American presidential campaigns in the United States in 2008, 2012, 2016. In addition, opportunities are being created to improve the quality of public finance management by increasing the openness of budgeting at the federal and regional levels, that is, the actual implementation of the Vernon Smith auction in practice, which will be an important step in the formation of a genuine civil society.

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Evaluation Methods of Scientific Economic Journals Quality

Evaluation Methods of Scientific Economic Journals Quality

Journal of Institutional Studies, , Vol. 13 (no. 2),

The paper presents a review regarding the current methods of evaluating, ranking, and rating academic economics journals in Russia and other states – the USA, the EU countries and China. In order to do this, the authors introduce a common typology of analytical methods which includes bibliometric, peer review, network (invariant), hybrid, and consolidated algorithms for evaluating the quality of journals. The article shows that the differentiation of periodicals can be performed using quantitative and qualitative approaches. The authors explore the usage of so-called institutional filters, which are the rules for regulating the academic sphere via specialized tools for assessing the academic economics journals. The findings reveal that the trend established in the beginning of the 21st century concerning the application of international databases’ formal metrics in science policy hides a lot of threats. Among them status losses by some Russian academic economics journals maintaining high academic standards, which are not covered by international databases, as well as various consequences of manipulating practices and setting of obviously unrealistic targets can be named. The authors outline the conditions for the efficient usage of formal academic economics journals metrics as institutional filters. The paper proves that current analytical methods for evaluating the periodicals quality allow to carry out their reasonable and unbiased ranking for research needs of Russian economists.

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New Approaches to Estimating the USSR GDP During The Second World War

New Approaches to Estimating the USSR GDP During The Second World War

Journal of Institutional Studies, , Vol. 13 (no. 2),

The article is devoted to the issues of mobilization of the USSR economy during the Second World War. The author proposes a new method for determining the GDP of the USSR in 1940–1945 based on archival materials and achievements of modern historical and economic analysis of the national economy of the USSR during the Second World War. The author also considers a theory of economic mobilization during the Second World war of Alan Milward, applying his ideas to the analysis of the Soviet military economy. The author believes that the estimates of the GDP of the USSR adopted by A. Meddison and M. Harrison for the period of the Second World war are overstated. In this regard, the author concludes, based on calculations, that the growth of the Soviet economy in 1943–1945 was not as significant as is commonly believed, and the Soviet economy did not reach the pre-war level of GDP in 1945. In this regard, the author proves that the reserves of the Soviet economy before the Second World War were very limited, which is also explained by the limited relocation of resources between the agricultural and urban economies of the USSR. The survival of the Soviet economy during the Second World War was mainly due to the relocation of capital investments to the Central and Eastern regions of the country due to the occupation of less economically efficient western regions. In this regard, the author also hypothesizes that industrial clusters arose in the Central and Eastern regions of the USSR as a result of an evacuation.

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Price Crises in Soviet Economy 1920s and Institutional Effects of the Fundamental Impossibility of Socialism

Price Crises in Soviet Economy 1920s and Institutional Effects of the Fundamental Impossibility of Socialism

Journal of Institutional Studies, , Vol. 13 (no. 2),

The article analyzes the impact of institutional factors on the economic system of the Soviet Russia at the period of New Economic Policy. The first group of factors is associated with the social structure of the soviet village. The specifics of agricultural business activities (in particular, long production period, a gap in the movement of cash flows, impossibility of agricultural labors during the long winter season) led to the potential for localization of the village market in the event of an increase in prices for industrial products. This has repeatedly led to a crisis in the marketing of manufactured goods and food shortages in the cities. The second group of factors concerns institutional changes in ownership. The nationalization of the means of production led to the absence of a capital and labor market and to the impossibility of forming a system of relative prices, which, in a capitalist economy, signals entrepreneurs about the directions of efficient allocation of resources. The article demonstrates that Soviet economists in the 1920s used the same arguments in discussions about economic policy tools that market advocates used in discussion on economic calculation under socialism. The NEP as a system of a mixed economy was doomed due to the inability of the planning authorities to determine the directions of capital investments corresponding to the needs, which, given the relative isolation of the countryside, inevitably led to permanent crises.

Views: 214

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Human Capital Growth Contra Birth Rate Growth

Human Capital Growth Contra Birth Rate Growth

Journal of Institutional Studies, , Vol. 13 (no. 2),

The necessity of a systemic reboot of the Russian policy of supporting families with children is substantiated, so that the orientation towards the growth of the population of Russia is replaced by the orientation towards increasing the human capital of future Russian workers. The new concept of family policy is based on the adaptation to Russian conditions of some of the basic principles of the policy of birth control in the PRC. The main idea is the need to differentiate fertility incentives for different social groups. They should be the highest for families of specialist workers (professionals), where the spouses have a high education and middle class income. To stimulate the birth and upbringing of children, it is proposed to use not only monetary incentives for the family, based on the scoring of the characteristics of parents, but also stimulation of free time by expanding womenʼs distance employment and pension benefits for «good» adult children. The proposed comprehensive concept is the result of the systematic use of many institutional theories – post-industrial society, modernization, human capital, Maslowʼs pyramid, etc.

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Public Procurement as an Economic Policy Tool

Public Procurement as an Economic Policy Tool

Journal of Institutional Studies, , Vol. 13 (no. 2),

The paper provides the rationale for using the public contractual system of the Russian Federation as a mechanism of a proactive economic policy. A number of works are analyzed that consider expenditure stimulation through a public contractual system as the main regulatory tool, for instance, in building national innovative systems, advancing research and technology, modeling the structure of the economy as well as solving social problems. An empirical analysis of the role of the Russian contractual system is given in view of its impact upon development of the regional economies in 2012–2019. Regular significant relations between the scope of financing public procurement within the contractual system of the Russian Federation and adequate own funds in the regional budgets are confirmed. The trends in elasticity coefficients characterizing correlations between the scope of financing of public and municipal procurement within the Russian public contractual system and particular tax groups in consolidated budgets of the subjects of the Russian Federation in 2012–2019 indicate economic appropriateness of increased procurement costs in terms of simultaneously providing own funds to the budgets. A positive influence of public and municipal procurement upon the level of employment and innovative activity of entities is shown, verifying, therefore, the potential of the Russian contractual system to support social and innovative policy, which is consistent with international evaluations. Conclusions are reached on the expediency of employing the budget and contractual system cumulatively as a proactive mechanism of economic policy to achieve efficient economic orders.

Views: 221

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Regulation of Narrow Price Parity Agreements in Multi-Sided Markets

Regulation of Narrow Price Parity Agreements in Multi-Sided Markets

Journal of Institutional Studies, , Vol. 13 (no. 2),

The article discusses the regulatory regime of digital multi-sided markets. It analyzes narrow price parity clauses designed to prevent a showrooming by depriving the supplier of the right to offer lower rates on its own website than on the platform. In recent years, some EC countries have banned such agreements. It was justified by the perceived benefits of increased vertical competition between suppliers and platforms acting as their distributors. The paper considers the interaction between the supplier and a platform like Booking.com, in the presence of narrow price parity clauses and without them. It is shown that the bans of such agreements may have long-run consequences radically different from the original intentions of the regulator. The reason for this is the reaction of the platform suppressing vertical competition by intensifying competition between the former and the newly attracted suppliers (apartment owners). The resulting uberization of the industry complicates the traditional suppliers (hotels) reproduction processes and negatively affects the welfare of consumers. The inefficiency of the existing regulatory regime of digital multi-sided markets leading to concentration of revenues in the hands of transaction platforms suggest that there is an urgent need to form national platforms, whose function should be to support domestic suppliers, create industry infrastructure, etc…

Views: 273

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