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Voprosy Ekonomiki

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No 8 (2003)
View or download the full issue PDF (Russian)
https://doi.org/10.32609/0042-8736-2003-8

MACROECONOMICS

4-30 660
Abstract

The article proposes the realization of structural reforms in the Russian economy. The author points out three sectors of the modern economy: the export sector, mainly energy and raw materials; the sector oriented at domestic market; the non-market sector, which includes, besides budgetary sphere, electricity production, gas industry and utilities. The idea is to considerably limit the size of the non-market sector at the expense of the said industries and broaden in them the sphere of competitive relations, leveling relative prices and hence creating additional stimuli to modernization of the economy.

31-40 732
Abstract

The authors are of the opinion that in order to answer the question of Russia's resource potential utilization it is necessary to measure national resources, estimate their real size, the degree of their assimilation and effectiveness. Coefficients of resource potential assimilation are considered, which suggest not only its low level but also the absence of corresponding demand. For making specific decisions aimed at increasing the level of resources utilization the authors propose a number of measures.

MODERN FINANCIAL INSTRUMENTS

41-55 625
Abstract

The article analyses how different factors, including market environment and intra-firm factors, have influenced the rapid development of derivatives market during the last 20 years. The author studies the fundamental concept of the derivative instruments regulation (SFAS 133) and proposes some amendments to the regulatory statute. He also builds a conceptual model of the derivative instrument and suggests a system for derivative instruments classification. The analysis of modern derivative instruments' potentially harmful characteristics is also carried out.

56-66 917
Abstract

The main theoretical aspects of derivatives market functioning are considered in the article. In accordance with national and foreign researchers' opinions the definition of forward transactions is proposed and its economic essence is revealed. The macroeconomics model of derivatives market equilibrium and the model of combined functioning of derivatives and spot markets are propounded.

67-80 549
Abstract

During the period of reforms the majority of Russian raw materials manufacturers has been reoriented at the world markets. The prices of raw materials have high volatility that leads to export incomes' uncertainty. In the article self-insurance and hedging strategies are considered with the purpose of minimizing commodity price risk.

81-94 489
Abstract

The article is devoted to investigating methods for forecasting long-term Russian stock market trends. The purpose of research is creation of the forecasting model capable of forming a reverse trend signal in the stock market. The index of trend forecasting constructed in the article includes different economic indicators and thus has high forecasting ability.

_______________

95-101 601
Abstract

Acording to the author's opinion, institutional investors (from many participants of the capital market) play the main role, especially investment funds. They supply to small-sized investors special investment services, which allow them to participate in the investment process. However excessive institutialization and increasing number of hedge-funds may lead to financial crisis.

ISSUES OF THEORY

102-116 620
Abstract

Wide spreading of rational choice paradigm in economics puts forward the analysis of possibilities of its use in other social sciences. As a whole, it is applicable in every sphere where the choice takes place. However economic variables can be measured by value and therefore this discipline can use formal mathematical models. In other social sciences the use of formal models is more difficult. Hence the progress in social sciences may be achieved by constructing new mathematical models.

117-131 590
Abstract

The article is devoted to the philosophical aspects of management. It is considered in the framework of philosophy of economy. The author analyses the problem of connection between subject and object, correlation among management and current picture of the world, management and freedom, the rule of personal approach in management, space and time aspects of management, rationality and irrationality in management. As a result the conclusion is made that the problem of management rationality is put differently in philosophy than in other social disciplines. Philosophy of economy understands management rationality as a part of incomplete, open, creative activity.

IN AID TO THE LECTURER

132-149 1009
Abstract

The object of the proposed analysis consists in economic transactions carried out in conditions of proximity (spatial, social, normative). Localization of social and economic contacts might have a traditional nature (for example, in the case of Russian obshchina), or it might result from a conscious, reasonable choice of economic agents. In the last case they protect themselves against unpredictable events of the risk society. A model of network capitalism based on both types of local transactions is proposed. The author review a series of concepts allowing to describe localized and personified relations. The only universal concept is that of networks: in it an emphasis is put on structural issues, so, one is able to compare different cases of local interactions. A series of network parameters is discussed. Special attention is paid to social and normative factors of market segmentation. The article considers the problems of teaching economics and management in distant form. The necessity of using such a form is connected with the fact that practical managers and professional economists usually have no opportunities to leave their business for a long time. The distant form of education gives them a chance to combine education with their practical activities. Teaching economics in distant form implies certain methodological problems discussed in the article.

RESEARCH NOTES

CRITIQUE AND BIBLIOGRAPHY



ISSN 0042-8736 (Print)