Abstracts of Main Articles

THREE-YEAR BUDGET 2015—2017: IMPERATIVE OF SOCIO-ECONOMIC COURSE «REVERSAL» WAS IGNORED, THIS TIME AGAIN (ESTIMATES OF REPRESENTATIVES OF LEFT-WING FRACTIONS IN STATE DUMA)

Abstract

The publication is a reproduction, preceded by an extensive editorship comment, of a series of constructive and critical speeches by representatives of left-wing factions (CPRF and Just Russia) in the lower chamber of parliament — G.A.Zyuganov, Sc.D. (Philosophy) and professor O.G.Dmitrieva, Sc.D. (Economics), deputy chairman of State Duma Budget and Taxation Committee — in the course of debates on draft federal law «Federal budget for 2015 and for a planning period of 2016 and 2017». The general conclusion of the reproduced text authors and editorial staff of the journal is found in the publication heading.

Key words

FZ «Federal budget for 2015 and for a planning period of 2016 and 2017», budgetary (fiscal) policy, socio-economic course, macroeconomic forecast, budget deficit (surplus), budget receipts, budget expenditures, budget maneuver, alternative budget.

CONCERNING PROVISION OF CURRENCY STABILITY AND NEW FINANCIAL MECHANISMS UNDER SANCTIONS

Author

Yershov M.V., Sc.D. (Economics), chief director on financial studies at the Institute of Energy and Finance, Professor with Financial University under RF government

Abstract

The author justifies the respective measures proceeding from the fact that an adequate response to US and EU sanctions requires revitalization of internal mechanisms of building monetary resources which would make up for the shortfall in external financing, and that this suggests radical adjustments in the earlier monetary policy (reliance primarily on international markets). Some of these measures (including reduction of the key CB rate and greater monetization of the national economy) have already been suggested in scientific media (including the author of this publication) but today implementation thereof turns into a dire need.

Key words

US and EU sanctions against Russia, monetary and fiscal policy, Bank of Russia, key rate of Bank of Russia, ministry of finance of Russia, guidelines of government monetary policy for 2015 and for a period of 2016 and 2017, rouble rate, refinancing, monetization of economy, inflational targeting.

THE LATEST EVOLUTION OF RUSSIAN AGRO-ECONOMY: BARRIERS OF MANAGERIAL INCOMPETENCE

Author

Gumerov R.R., PhD (Economics), associate professor, head of AIC and Food Market Sector at the Institute of Macroeconomic Studies

Abstract

The author specifically and extensively substantiates a thesis, figuring in his previous articles published in Rossiisky Ekonomichesky Journal, which suggests that the post-soviet agricultural police not only simply follows the negative processes and trends in the agro-business dynamics but even worse – promotes conversation and aggravation thereof (and sometimes invites new negative phenomena). A special attention is given to manifestations of managerial incompetence in Russia`s AIC such as profanation of program approach, non-systemic management, utilization of the ineffective and corrupt arrangements in it, and inadequate response to western sanctions. 

Key words

ministry of agriculture of Russia, state program of agriculture development and regulation of agricultural products, materials and food products markets for 2008—2012, state program of agriculture development and regulation of agricultural products, materials and food products markets for 2013—2020, Food Security Doctrine of the Russian Federation, priority national project «AIC development», co-financing from federal budget and budgets of subjects of the RF, subsidizing of interest rates on investment loans, WTO agreement on agriculture.

CHINA: IS THERE LIFE AFTER SANCTIONS? (CURRENT RETROVIEW)

Author

Novosiolova L.V., Sc.D. (Economics), chief researcher with the Institute of the Far East, RAS

Abstract

The article reviews China`s quarter-of-century experience is countering US, EU and G7 sanctions against China in connection with Tiananmen Square events in June 1989. Identified is a holistic range of socio-economic and political measures (of external and specifically internal nature) which permitted China to not only do away with international isolation but also to achieve a dominant position in international markets.

Key words

Tiananmen Square events, US, EU and G7 sanctions against China, most favoured nation treatment in bilateral PRC-USA trade, China accession to WTO, new course of reforms in PRC in the early 1990s, China and the World Bank.

WHAT WILL HAPPEN TO UKRAINE? (THE FINAL SECTION OF THE BOOK «UKRAINE`S CATASTROPHE: FROM AMERICAN AGRESSION TO A WORLD WAR?»)

Author

Glaziev S.Yu, academician, RAS

Abstract

The publication, accompanied by a short op-ed, is a reproduction of a lengthy text closing a new book by S. Yu. Glaziev «Ukraine`s catastrophe: from American aggression to a world war?» (Moscow: Knizhny Mir Publishing House, 2014. 352p. ) containing systemic thoughts relative to the Ukrainian events, their significance for Russia, Europe and world as a whole, articulated by the author during 2014 in scientific periodicals, mass-circulation media and at various forums. In closing the book, the author justifies four potential scenarios of the forthcoming socio-economic evolution of the Republic of Ukraine, three of which are negative (crisis stabilisation, half-decay and decay) and the fourth  (positive) one, unfortunately the less probable under the current circumstances, is linked with the country`s return to the process of Eurasia economic integration. 

Key words

Ukraine, Republic of Ukraine, Russia-Ukraine relations, Ukraine, Customs Union, common economic space and Eurasian Economic Union, agreement on Ukraine`s association with EU, CIS free trade area, Eastern partnership, European economic integration, Eurasian economic integration.