The modern theory of cyclical fluctuations and its relevancy to actual processes in the global economy are discussed in the article. It points to the limited applicability of the theory to practical needs of households, businesses and governments. Possible directions of the theory evolution are...

The article analyzes the investment—saving balance in developed and developing countries and groups of countries. Main determinants of investment and saving decisions of different economic agents are derived from well-known theoretic papers. The analysis of pre-crisis investment—saving...

(Institutional Approach) The article considers the problem of corruption as impediment for country’s modernization. Using neoinstitutional approach, the authors offer the classification of corruption in the context of private and political markets for institutions, relevant social groups and...

Main factors and development of the global financial crisis-2008 are generally discussed in the paper. The downturn in one of the local sectors of the US economy has caused major threats to functioning global financial markets. Structural problems of the Russian financial sector ("illusion of...

The article studies the main problems of Russian oil and gas complex. The authors argue that global economic and financial crisis has already led not only to certain reduction in energy consumption, but to serious changes in the global energy sector. In the medium term we may expect globally...

The paper cosiders the strategy of Russian society, government, and economy modernization, aimed at transformation of the state into one of the world intellectual and cultural leaders. The reasons of past modernization attempts failures are shortly analyzed. General restrictions of any...

Ukraine has the greatest economic potential among transition economies, but economic activities in the country highly depend on external markets, especially on the Russian one. The country has come a long way from the 1990-s, but the process of institutional transformation has been slow and met...

The article considers the key dilemma of regional economic policy — leveling versus development. The policy decisions should be undertaken under conditions of weak and imbalanced institutional infrastructure; the lack of sound institutions of development mounts the problem. The paper highlights...

(the Case of Georgia) The article deals with the process of transformation of the post-Soviet space in the last two decades since the collapse of the Soviet Union. Different models of economic development of former Soviet republics in the transition period are considered. Special attention is...