Testing Russias Virtual Economy PDF Download
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Author | : Vlad Ivanenko |
Publisher | : |
Total Pages | : 0 |
Release | : 2003 |
Genre | : |
ISBN | : |
Download Testing Russia's Virtual Economy Book in PDF, ePub and Kindle
In the aftermath of sovereign default of August 1998, the hypothesis of virtual economy in Russia developed by Gaddy and Ickes has gained popularity. The hypothesis states that the country has not moved towards free-market economy but developed a system of implicit price subsidization similar to what had existed before. Non-viable sectors that the state supported with subsidies before survive by over-pricing their output. Customers pass the bill back to the government by reducing their tax liabilities. We test the proposition that the distribution of the value-added across sectors is biased because of price distortions and estimate the distribution at world prices. The results support the claim that Russian price structure is different from the world level and three out of fifteen sectors, for which we construct price indices, become "value-destroying". We investigate the reasons behind price differentials and find that difference in processing and the use of barter explain a large part of it.
Author | : VLAD IVANENKO |
Publisher | : |
Total Pages | : 49 |
Release | : 2001 |
Genre | : |
ISBN | : |
Download TESTING RUSSIA'S VIRTUAL ECONOMY Book in PDF, ePub and Kindle
Author | : Clifford G. Gaddy |
Publisher | : Brookings Institution Press |
Total Pages | : 322 |
Release | : 2002 |
Genre | : Business & Economics |
ISBN | : 9780815731115 |
Download Russia's Virtual Economy Book in PDF, ePub and Kindle
Clifford Gaddy's and Barry Ickes' thesis-- that Russia's economy is based on illusion or pretense about nearly every important economic yardstick, including prices, sales, wages and budgets-- has forced broad recognition of the inadequacies of the intended market reform policies in Russia and provided a coherent framework for understanding how and why so much of Russia's economy has resisted reform.
Author | : Richard Eric Ericson |
Publisher | : |
Total Pages | : 0 |
Release | : 2000 |
Genre | : |
ISBN | : |
Download A Model of Russia's Virtual Economy Book in PDF, ePub and Kindle
Author | : R.E. Ericson |
Publisher | : |
Total Pages | : 41 |
Release | : 2000 |
Genre | : |
ISBN | : |
Download A Model of Russia's "Virtual Economy" Book in PDF, ePub and Kindle
Author | : CLIFFORD GADDY AND BARRY W. ICKES |
Publisher | : |
Total Pages | : 35 |
Release | : 1999 |
Genre | : |
ISBN | : |
Download STABILITY AND DISORDER: AN EVOLUTIONARY ANALYSIS OF RUSSIA'S VIRTUAL ECONOMY Book in PDF, ePub and Kindle
Author | : Svetlana Bojarčenko |
Publisher | : |
Total Pages | : 38 |
Release | : 2003 |
Genre | : |
ISBN | : |
Download A Three-sector Model of the Russian Virtual Economy Book in PDF, ePub and Kindle
Author | : Gene H Chang |
Publisher | : |
Total Pages | : 0 |
Release | : 1999 |
Genre | : |
ISBN | : |
Download Observation on the Nature of Russia's Virtual Economy Book in PDF, ePub and Kindle
The rapid expansion in Russia of the virtual economy, a system characterized by a network of barter, has recently received much attention. This article analyzes the origin, the nature, efficiency and welfare implication, of the virtual economy. While the system is criticized by many economists as a retreat from reform, this article argues that the virtual economy has merit and economic rationality, given the special circumstances in Russia. In particular, the system results in a net welfare gain, and it functions by using its own criterion of cost efficiency.
Author | : Richard E. Ericson |
Publisher | : |
Total Pages | : 49 |
Release | : 2007 |
Genre | : |
ISBN | : |
Download A Model of Russia's 'Virtual Economy' Book in PDF, ePub and Kindle
The Russian Economy has evolved into a hybrid form, a partially monetized quasi-market system that has been called the virtual economy. In the virtual economy, barter and non-monetary transactions play a key role in transferring value from productive activities to the loss-making sectors of the economy. We show how this transfer takes place, and how it can be consistent with the incentives of economic agents. We analyze a simple partial-equilibrium model of the virtual economy, and show how it might prove an obstacle to industrial restructuring and hence marketizing transition.
Author | : Svetlana Boyarchenko |
Publisher | : |
Total Pages | : 75 |
Release | : 2001 |
Genre | : Foreign exchange |
ISBN | : |
Download Money Substitutes in the Russian Virtual Economy Book in PDF, ePub and Kindle