It is generally accepted that new-enterprise formation is critical for generating growth in post-socialist economies. This process has been intensive in Russia, with considerable regional variation. In this study, this variation is estimated, drawing on the theory of conditional and...

A domination concept, based on the notion of an exchange contract, is proposed and studied in this paper. Doing so, the classical notion of domination via coalitions is transmitted onto systems (webs) of contracts and onto allocations, whose stability is investigated. This way, the proposed...

A bank can be viewed as a firm that uses deposits as inputs to “produce” loans and investments. If a manager does all her best, the bank affords its production possibilities frontier. However, the manager’s incentives may not go in-line with those of the bank’s owners, and this leads to...

Inefficient management is considered as a major factor responsible both for bank failures and X-inefficiency. Using data from financial statements of largest Russian banks for the period immediately preceeding the August 1998 crisis, we tested the hypothesis that the past level of X-inefficiency...

This paper focuses on persistent poverty in Russia and determines the main micro and macro factors that cause a household to be persistently poor. As potential correlators of persistent poverty, main demographic, socio-economic and regional characteristics of a household, as well as the...

The Russian economy has evolved into a hybrid form, a partially monetized quasi-market system that has been called the virtual economy. In the virtual economy, barter and non-monetary transactions play a key role in transferring value from productive activities to the natural monopolies and...

The authors construct a computable general equilibrium (CGE) model of a Nizhny Novgorod regional economy – a typical large industrialised re-gion of the Russian Federation. The model allows to capture some of the key features of the ‘virtual economy’, such as barter transactions and...

The authors investigate the possibility of utilizing the depreciation mechanism to provide incentives for undertaking investment in the real sector of the Russian economy. The proposed model of investor's behavior under risk and uncertainty considers a wide range of tax instruments The authors...

The authors attempt to provide poverty rate estimates in Russia adjusted for in-kind consumption. The results show that for rural households in-kind food consumption accounts, on average, for about 75% of total food consumption and that about 25% of food consumption among urban households comes...

The formation of an efficient employment structure as an important factor stabilizing the situation in regional labor markets and its impact on labor markets' behavior are studied. Theoretical and empirical analysis of regional labor market differences and the factors causing these differences...