The results of the study represent the Russian experience in the sociological study of the non-criminal "shadow" labor market, including the identification of trends in its development, analysis of socio-economic mechanisms, in particular the socio-psychological attitudes of participants in "shadow" processes, norms of legal and economic consciousness, value orientations, and motives of behavior. that determine the massive participation in the non-criminal "shadow" economy of representatives of different social, demographic and professional groups.
Wine has been cultivated in the Caucasus for thousands of years. Caucasian viticulture experienced its greatest evolution and development during Soviet rule. However, Gorbachev's anti-alcohol policy and the transformation processes in the 1990s led to a dramatic decline in wine production. For the last 15 years, the viticulture in this region has experienced rediscovery, renewal, and growth. Although Russia remains the largest and most important export market for the wines from Georgia, Armenia, and Azerbaijan, all three countries try to diversify export destinations and to penetrate non-CIS countries. The following article outlines the developments in the wine industry of these three Caucasian countries and identifies similarities between them.
This article examines industrial policy in Azerbaijan and its link with the broader development agenda with respect to its periodization, priorities, and instruments. The article finds that despite the government's attempts to diversify the economy and exports by promoting non-oil industries, the imbalance between the mining and manufacturing industries remains a challenging issue. Additionally, the high level of oil-gas dependence negatively affects the quality of policy formulation and implementation in industry.
Georgia does not have a national industrial policy strategy document to guide a long-term transformation of the country's economic structure. Officially, the Georgian state does not pursue an industrial policy. However, some of the state activities, such as the establishment of state agencies to facilitate investment by providing funding in promising sectors, overlap with the idea of industrial policy and its instruments. The present article addresses Georgia's socio-economic development strategy and the intervention tools of the state, with the aim of supporting industrial growth and diversification.
Released in 2012, the IFGF illustrates how taxes paid by society are managed by city halls administrations. The IFGF provides greater transparency to municipal accounts through a simple and available tool for public inquiry, in which every Brazilian citizen can participate in the discussion regarding the fiscal situation of his/her city. In addition, indicators are used as a management tool for thousands of municipal managers in the country, either to build scenarios or to improve decisions regarding the correct allocation of public resources. IFGF is based on five aspects: the ability to earn revenue without relying on state and federal transfers, the ratio of the budget that goes into payroll, cash sufficiency, investment capacity, and indebtedness. The indicator ranges from 0 to 1.
Innovations are usually associated not only with high profits. They also need significant long-term and high-risk investment in R&D which is why often governments become involved in promoting such development.Such a state-sponsored innovations policy is impossible for Ukraine today. Still, there are also other less costly means to foster innovations development to some extent.
El objetivo del estudio es mostrar cómo han evolucionado las economías en Pomacanchi y Yanamarca -denominadas originalmente por Daniel Cotlear como "tradicional" y "moderna")- en las últimas dos décadas y qué rol ha tenido la política pública, tanto aquella que es común a ambas zonas -como el cambio de los precios relativos- como aquella que es particular a cada territorio.
E-commerce offers economy-wide benefits. World Trade Organization (WTO) members recognized the benefits e-commerce offers and have developed a work program to facilitate the development of e-commerce. However, WTO efforts to facilitate e-commerce have stalled, leading to a slower than anticipated progress. As fundamental differences continue to stall progress in the WTO's program on e-commerce, the United States concluded a free trade agreement with Jordan. This agreement was the first ever to incorporate explicit provisions on e-commerce. This article analyzes how existing trade agreements have dealt with e-commerce. The article gives an overview of the situation in WTO. The article then examines the e-commerce provisions in the United States-Jordan Free Trade Agreement (US-JO FTA) and how the parties have tackled the obstacles that stalled the WTO work on e-commerce.
La posible sobrevaluación del Indice de Precios al Consumidor de Lima Metropolitana ha sido un problema que ha venido preocupando tanto a académicos como a tomadores de decisiones y a la opinión pública en general desde hace ya algún tiempo. Muchos desconocen que la sobreestimación del Producto Bruto Interno per cápita y del retraso cambiario, o la subestimación de la presión tributaria, tiene su origen en el mismo problema de medición del IPC. Sin embargo, la existencia de dichos sesgos es reconocida cada vez más como asuntos que necesitan ser urgentemente abordados y solucionados. Entender la naturaleza exacta de estos problemas es indispensable si se pretende corregirlos adecuadamente. Este documento parte de la teoría de los índices del costo de vida para determinar la manera más adecuada de agregar los precios para obtener un indicador de inflación. Dicha metodología es comparada con el IPC elaborado por el INEI. El documento muestra que el índice de precios del INEI sobrevalúa el costo de vida sistemáticamente en periodos de alta inflación. La corrección de este sesgo es crucial pues una rectificación del IPC permitiría reevaluar la evolución, en términos reales, de los principales agregados macroeconómicos.
The shale revolution and the transition to a low-carbon economy in the industrialized West have ushered in a new era of energy. The Trump administration in the U.S. has pushed a new 'America first' energy policy aimed at transforming the U.S. into a global energy superpower. The rise in shale gas production has brought energy prices tumbling down. Traditional oil producers have been hit hard by low oil prices. The new energy order also means a lower demand in the West for Caspian fossil fuels. International oil companies have shown no interest in investing in new Caspian energy developments, and the idea of building a seabed Trans Caspian Pipeline (TCP) to connect Central Asia to Azerbaijan remains stuck on paper. In this article, I examine the impacts of these macro-structural changes on Azerbaijan, Kazakhstan and Turkmenistan. I argue that in the absence of Western oil company investments, and given the lack of U.S. and EU leadership in developing new energy projects, Caspian energy producers, with the exception of those in Azerbaijan, are looking to China and other Asian countries for export markets. Turkmenistan already ships almost all its gas exports to China and is pressing ahead with a new pipeline (TAPI) to deliver gas to Pakistan and India. With substantial Chinese investments in its energy sector and an existing pipeline connection to China, Kazakhstan has increased its gas exports to China. In the case of limited capacity of Kazakhstan's westbound pipelines, the country is considering plans for diverting some of its growing oil output to China. Azerbaijan has the biggest stake in a TCP because of the urgency of switching to gas. Baku has borrowed billions of dollars to build a network of pipelines (the Southern Gas Corridor) to ship its gas to southern Europe. However, there is currently not enough gas available to make this pipeline project commercially viable.
The industry has been closely watching to see at what point the market becomes too saturated to support further development. Some final investment decisions that were expected this year have been pushed off to 2018 and beyond. A number of developers with proposals in the permitting queue have announced preliminary offtake agreements with buyers, but firm final agreements have so far been fleeting.
In a market economy, human work is offered and sought in the labor market. It is valued because of the level of demand for it and the rarity of the required qualifications. At the same time, because of the different contexts and conditions, there are many labor markets that are defined as the professional labor markets, local labor markets, dual labor markets, and black and gray labor markets.
Authorities have been managing the quoted interest rate since the 2008/2009 financial crisis. And for many, positive interest rates have not created much of a concern.
Prior to 2008, a different world existed with positive interest rates. One characteristic of the interest rate - earned or paid - is the degree to which it may differ when quoted by a fiscal authority in a different region or country. For example, assuming all other factors are equal, if the interest rate earned on euros in France is three percent, and in Italy seven percent, an economist might conclude that the cost of living must be higher in Italy and the rate of inflation also higher, since interest rates quoted take into account the real rate of return plus a premium that reflects local inflation. A businessman, on the other hand, might assume that since higher rates in Italy are associated with higher risks, France would be a safer place to invest capital and conduct business.
Such conclusions become more complicated if one country fixes the rate of conversion of its currency to another country. This is known as "pegging the currency".
This article will comment on the pressures that have arisen from certain members of the Gulf Cooperation Council (GCC) having pegged their currencies to the US dollar. It is in no way a commentary on actual policies adopted by the central banks of the countries, and, to the extent that these central banks are not independent of their governments, the policies of the government of the day.
