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Issue 4, 2012

CONTENTS

ECONOMIC THEORY

D.  V. Polyakova

National Wealth Distribution in the Growth Model with an Endogenous Discount Rate

D.  N. Kolesov, O. G. Sergeeva, N. V. Khovanov

Simple Exchange Model: J. Nash’s “Ideal Money”

M. I. Levin, M. L. Freer, N. V. Shilova

Rational Xenophobia: Predictable Results and Unexpected Consequences

K. A. Bukin

Economics of the Development of “Ethnical” Small Businesses in the Presence of a priori Prejudices

MACROECONOMIC CALCULATIONS

S. I. Agabekov, E. A. Levina

Possible Modifications of the Indices of Innovation Activity

 

BANKING

I. G. Ivasiv, R. V. Kornilyuk

The Influence of Foreign Banks on the Banking System of Ukraine

O. A. Zolotareva

Belarussian Crisis: Causes and Overcoming

 

INSURANCE

N. S. Agafonov

Transformation of State Regulation of Insurance Market in Germany and Russia

Yu. V. Neradovskaya

Analysis of the Activities of Insurance Organizations and Non-Governmental Pension Funds on Providing Non-Governmental Pension Provision

GOVERNMENT FINANCE

O. I. Usenko

The Actual Problems of State and Municipal Financial Control

 

FINANCIAL MARKETS

A. A. Voronin

The Significance of Currency Risk for Investment Prospects of Largest Developing Markets

V. V. Simonyan

The Characteristics of the Distribution System of Investment Funds in Russia

FINANCIAL MANAGEMENT

M. G. Polikarpova, S. V. Bulycheva

Working out of the Adaptive and Regulating Mechanism of the Estimation of the Risks of Integration Activity of an enterprise in the Russian Federation 

 

V. V. Ivanov, N. N. Tsytovich

Planning of Income and Costs in an Enterprise: Methodological Aspects

 

GOODS AND SERVICES MARKET

A. N. Pakhomov

On the Classification of Objects of State Commercial Real Estate

 

ACCOUNTING AND AUDIT

S. N. Karelskaya, E. I. Zuga

The Definition of Accounting Paradigms in the Works of Ya. V. Sokolov

E. V. Shestakova

Changes in Accounting in Russia

 

BUSINESS ENVIRONMENT

E.  F. Mosin

Formation of Uniformity in the Interpretation and Application of the Norms of the Tax Law by Arbitration Courts

A. V. Gukova

Evaluating the Effectiveness of the Projects of Improvement of Financial Literacy of Population

HISTORY OF FINANCE AND ACCOUNTING

0. N. Volkova

Born in Italy: On the Origins of Management Accounting and Analysis

D. A. Lvova

The Admiralty Regulations of Peter the Great as a Relic of Accounting in the Era of Mercantilism

A BOOKSHELF

A. A. Kudryavtsev

European Actuarial Journal — a New Journal on Risk Management and Financial Modeling

A. L. Dmitriev

Jashy N. Soviet Economists of the Twenties. Names to be Remembered / Translation from English, Ed. A. A. Belykh. Moscow: Publishing House “Delo”, 2012

REVIEW OF SCIENTIFIC EVENTS

I. I. Eliseeva, D. V. Melnik

The XVIth Conference of the European Society for the History of Economic Thought

A. L. Dmitriev

Professor B. L. Ovsievich Prize for 2011

 

SUMMARIES

E. V. Polyakova

National Wealth Distribution in the Growth Model with an Endogenous Discount Rate

Some consequences of an increase in government debt and introducing various social insurance systems in the growth model with an endogenous discount rate are discussed in the article. The comparative analysis of different steady-state equilibria is presented. The theoretical analysis has been carried out for the arbitrary types of production and utility functions; therefore the approach proposed is rather common and can be used for a wide class of similar problems. The results of numeric calculations are presented.

Keywords: steady-state equilibrium; Sraffian indeterminacy; government debt; social insurance system.

D. N. Kolesov, O. G. Sergeeva, N. V. Khovanov

Simple Exchange Model: J. Nash’s “Ideal Money”

John Nash’s conception of “ideal money” is analysed in the framework of an extended simple exchange model. Nash criteria of the internal and external stability of the value of “ideal money” are revealed. These criteria are formalized as a problem of the minimization of the volatility of the normalized indices of exchange value of aggregate goods. The decision of the problem allows constructing the stable aggregate goods (e.g. aggregate currencies). Some possible applications of such stable aggregates are pointed out in the article.

Keywords: conception of “ideal money”; extended simple exchange model; stable aggregate eco­nomic good.

M. I. Levin, M. L. Freer, N. V. Shilova

Rational Xenophobia: Predictable Results and Unexpected Consequences

The article studies a model with a politician, managing a diverse crowd, which (the crowd) under certain conditions can get out of his control because of the emotional component of xenopho­bia (in the model to reflect the emotional plume we use the notion of hysteresis). The authors show that a farsighted politician who takes into account this possible outcome would not be raising the level of xenophobia in a society too high. This means that in the absence of strong competi­tors he almost always wins the election. And only a democratic society, thus allowing competi­tors to appear, deliberately deprives him of this possibility, dissipating his efforts to attract voters.

Keywords: xenophobia; political-economic approach; politician; hysteresis; emotions.

K. A. Bukin

Economics of the Development of “Ethnical” Small Businesses in the Presence of a priori Prejudices

The modeling of the development paths of ethnical small businesses is considering in the article. The model, which describes the dynamics of the development of business depending on the group reputation of ethnical group, is used for analysis. The author investigates the small busi­ness in an area of Moscow region by the example of construction brigades that are organized on the basis of ethnical groups. In spite of the fact that group reputation of these brigades was ini­tially low, such business has been developing successfully during the last years. The existed dynamic models of similar ethnical business with low group reputation bode getting into a rep­utation trap which does not allow them to progress and does not help in strengthening the group reputation. However, that contradicts the observations of the author. The “market exhaustion” of supportive principals is modeled with the instant jump in the threshold of the group reputation.

Keywords: ethnic group; group reputation; individual reputation; dynamic model of growth; reputation trap; supportive principals.

 

S. I. Agabekova, E. A. Levina

Possible Modifications of the Indices of Innovation Activity

The article is devoted to the problem of the measurement of the level of innovation activity in a country. The article deals with the indices that show the relationship between the existing socio-economic system and the intensity of innovation production. The information derived from these indices is analyzed in the article. The problems of the calculation of theese indices are discussed.

Keywords: innovations; business activity; domestic expenditure on research and development; high tech.

I. G. Ivasiv, R. V Kornilyuk

The Influence of Foreign Banks on the Banking System of Ukraine

The conceptual foundation of the activity of foreign banks in the Ukrainian banking system is investigated in the article. The Nature of foreign banks and effects of their entry in the host country are determined. The complex analytical technique of estimating the impact of foreign banks on the Ukrainian banking system which consists of financial and operational analysis of long-term indicators is developed and applied.

Keywords: foreign bank; foreign banks entry; banking system.

O. A. Zolotareva

Belarussian Crisis: Causes and Overcoming

The chronology, causes, consequences and ways to overcome the financial crisis in 2011 in the Republic of Belarus are analyzed in the article. The necessity of creating macro-economic infra­structure in which the turnover of capital funds would ensure the stability of the currency is grounded.

Keywords: monetization coefficient of the economy; growth rate of the real money supply; mar­ket capitalization level of the economy; specification of capital fund turnover.

N. S. Agafonov

Transformation of State Regulation of Insurance Market in Germany and Russia

The analysis of the transformation of the state regulation of the insurance market in Germany and Russia is given in the article. The key problems of the regulation of insurance in Russia are examined: the inoperativeness of the procedure of bankruptcy of an insurance company, the lack of differentiation of penalty for violating insurance law, and the lack of the regulated system of the access to insurance mediation. Based on the German experience, the proposals for improv­ing the insurance regulation in Russia are given.

Keywords: insurance; insurance market;