Suchergebnisse

The paper considers different types of financial flows in the form of turnovers to imply the return to the starting point with direct or indirect losses. The dynamic schemes, volumes and losses of turnovers are examined: the financial turnover between federal budget, financial markets for budget surplus investmentsand financial markets for the budget deficit borrowings; pension turnover between the State Pension Fund, financial institutions for pensions' savings and federal budget; the property turnover and the tax turnover for raw materials export. The total volume of turnovers is estimated as 15—19% of GDP with losses equal to 35% of federal budget expenditures.

The article shows the systematic mistake in the form of underestimation of project budget revenues. It is accompanied by the artificial increase in budget deficit which causes excessive borrowings and debt growth while in fact budget surplus takes place. It is proved that state borrowing and saving of assets in the sovereign funds (Reserve Fund and National Wealth Fund) lead to a combination of negative effects related to both deficit and surplus budgets: artificial slowdown of economic growth and increase in expenses for debt service.

The article analyzes the international experience of the stabilization funds creation, the place of these funds in the budgetary practice of Russia and other countries, their role in the monetary policy. An emphasis is put on the examination of the influence of the stabilization fund on the level of inflation (with examples drawn from Russian economic policy).

Cultural life of people of Belarus, based on the analysis of the periodicals first World War, is studied in the article. The sources of the research are as follows: "Nasha Niva", "Belarus", "Goman", "Vilenskije gubernskije vedomosti", "Orshanskij vestnik", "Minskaja gazeta-kopeika", "Minskij golos", "Beloruskij kalendar". The author accentuates that cultural life of the population of Belarus during the World War I was polyethnic due to the fact that there were more than thirty nationalities within relatively small Belarusian and Lithuanian region.The abstracts from descriptions of cultural events provided by the witnesses, their opinions on these or those issues in culture, having been published in the newspapers of the period of research, are provided to indentify the of tendencies and peculiarities of cultural development of the population on the territory of Belarus. It is stated that cultural life in its various forms is often used as a tool for gaining material source to support the army, refugees and other categories of people suffering during the World War I.

The condition and development of the Jewish libraries on the territory of Belarus before the World War I is researched. The author emphasizes that the Jews were one of the biggest ethnic groups in the region; therefore, they influenced cultural and educational processes on the Belarusian territories, including the development of librarianship. Special attention is paid to the quantity of the Jewish population on the Belarusian territories before the World War I (1897– 1914). It is also stressed that the Jews used the oral and written language at a sufficient level: this is an important condition for the development of nation-based libraries. The author analyses the state of the Jewish libraries in Vilno, Vitebsk, Grodno, Minsk and Mogilev provinces. The positive points are as follows: a good number of readers, free access to books outside the libraries as a stimulating measure to increase some interest among visitors, and periodicals reading rooms in some Jewish libraries in Belarus. Some obstacles on the way to the active development of the already existing and newly appearing Jewish libraries are revealed. They are as follows: weak state financial support, untimely book fund renewal, narrow target groups (mostly children and teenagers), non-qualified staff, low level of record management and local authorities' bans for the registration of new libraries.

The article presents the mathematical formalization of the pension's calculations procedures in the changing pension legislation of Russian Federation, which has been done for the first time. Mathematical formalization provided for examining pension's calculation procedures as a function of earnings and working record, stationarity of pension functions being examined as well. Violations of monotony and stationarity of pension functions and violation of the monotony of transition from one pension function to another during pension reforms result in changing ratio of pension's capacities of different groups of retired people. This fact is recognized by the people as unfair, which in turn destimulates economic activities. Several versions of monotone pension functions are developed as well as methods of incorporating previous pension calculation procedures into a new monotone pension function.

The paper treats the problems of correlation among inflation, increase in government spending and increase in money supply (M2). It is shown that there is no correlation for 13 out of 14 investigated countries including Russia. The paper proves that the type of inflation in Russia is cost-push inflation. Its main sources are monopolistic surplus for raw materials and energy being included in prices as well as prices for the products of natural federal and regional monopolies.

The paper presents comparative analysis of two models of pension system: accumulative and distributive (pay-as-you-go) ones based on Russian and world experience. It is shown that "the effect of dual burden" is formed within the transition period which lasts about 50 years and will reach its maximum in 22 years after the start of the reform. Under Russian conditions returns on pension capital fail to compensate for inflation and they are significantly lower than indexation of distributive pensions and wages growth rates. The model simulations have provided the following results: given the length of accumulation for 40 years; the longevity period - 19 years; employees-retirees ratio is going down, the accumulative pension system is likely to be more effective than the distributive one if returns on pension capital are not less than GDP growth rates and operational costs of the accumulative system are equal to zero. Otherwise the distributive pension system is more preferable.