Institutional Efficiency and Processes of Institutional Changes (as Seen by the Russian Academic Tradition)

Kuzmin, Evgeny; Barbakov, Oleg M.

doi:10.5539/ass.v11n6p163

Cited by 3 publications

(3 citation statements)

References 5 publications

(2 reference statements)

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“…Moreover, the extreme option of this model called the self-sufficiency strategy is more and more popular among businesses. The choice of this resource model and the attractiveness of investments in various resources depend on the developmental specifics in the Russian institutional environment [25]. The model rests on extractive institutions instead of inclusive ones (terminology is from [26]).…”

Section: Resultsmentioning

confidence: 99%

Resource Investment Model in Specifics of Developing Countries

Orekhova¹,

Kuzmin²

2017

Proceedings of the International Conference on Trends of Technologies and Innovations in Economic and Social Studies 2017

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Abstract-The research was aimed at a search for characteristic criteria, using which it is possible to choose resource strategies specific for companies in the developing countries in the context of Russia. At the same time, differences between institutional environments of the developing and developed countries lead to ambiguous conclusions. The critical review of methodological approaches to the research has made it possible to obtain the reasonable evidence for the conclusion that managerial decision-making of the model depends on resource properties, as well as dynamic and structural parameters of the institutional environment (factors). The results, shown in the paper, say that it is necessary to revise the imperative paradigm about significance of the minimization criterion for cumulative costs and the expense ratio. Contrary to the reasonable focus on the accepted model of investment in non-specific assets, businesses in Russia apply the intermediate hybrid model with rigid boundaries and primarily institutional coordination mechanisms.

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Section: Resultsmentioning

confidence: 99%

Resource Investment Model in Specifics of Developing Countries

Orekhova¹,

Kuzmin²

2017

Proceedings of the International Conference on Trends of Technologies and Innovations in Economic and Social Studies 2017

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“…Whereas, the growth of the technological level of Russia can provide an increase in labor productivity by 1.6-1.8 times (Lavrovskii, 2018). In addition, the quality of the institutional environment has a significant impact on labor productivity (Zaitsev, 2016;Kuzmin, & Barbakov, 2015). With a higher quality of the institutional environment, the same level of the capital-labor ratio can produce a higher volume of output.…”

Section: Fig 3 the Intensity Of Introducing Innovation And The Intensity Of Accumulating Fixed Assets In Agriculturementioning

confidence: 99%

Sustainable agriculture in Russia: research on the dynamics of innovation activity and labor productivity

Kheyfets¹,

Chernova²

2019

JESI

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The article examines the dependence of the growth rates of labor productivity on the growth rates of investments in fixed assets in Russian agriculture. The approach used in this work to assess the intensity of innovation activity in agriculture is based on the ratio of investment efforts and the resulting dynamics of labor productivity. It is revealed that in the period from 2013 to 2017, the growth rates of investments in fixed assets significantly exceeded the growth rates of productivity in the industry. The study of the dependence of the growth rates of labor productivity on the growth rates of investments in fixed assets showed a rather close relationship between these indicators (the correlation coefficient R = 0.57). The average coefficient of elasticity shows that given a change in the growth rate of investment in fixed assets by 1% of its average value, the growth rate of labor productivity in the period from 2013 to 2017 changed on average by 0.059%. The situation in Russian agriculture shows that in recent years, against the background of significant investments in fixed assets and growth of physical capital, the quality of this capital remained at a low level and could not ensure high and long-term growth in labor productivity. Additionally, an assessment of the intensity of innovation activity was conducted and an analysis of the factors was made, hindering the spread and introduction of breakthrough digital technologies.

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“…Horizontal (in terms of an increase in a number of institutions) and vertical (in terms of deepening and sophistication of valid rules and norms of the proper behavior) transformations build up a power of presence of the transaction sector. All this takes place in an effort to neutralize the uncertainty, thereby producing a dangerous institutional trap, when the specific growth of the transaction costs, initially caused by the uncertainty of an economic situation, leads to institutional expansion (Kuzmin & Barbakov, 2015), a natural consequence of which is the same uncertainty, but of a different kind. Litvintseva (2005), pointed out to this issue saying that the transaction sector in the economy is an obstacle for the economic development and as a measure presenting "the recovery to some extent for the redistribution mechanism and setting limits for a level of evaluation for services in the transaction sector".…”

Section: Introductionmentioning

confidence: 99%