A.V. SHMAKOV
Candidate of Economics (Ph.D.), Associate Professor, Department of Economics, Novosibirsk State Technical University, Novosibirsk

TERRA ECONOMICUS, 2014, Vol. 12 (no. 2),

p. 120-116

J. Meynstring began one of his speeches (Oklahoma, 1929) with the outstanding words: «Do you think that economics is a dismal science? You just haven’t learnt the chemistry!» To continue the great Californian economist’s traditions, I introduce you a course of popular science lectures of economics, which I have given in Novosibirsk in last ten years. The first lecture is about understanding of subject of economics. The economics is considered as a behavioral theory, which permits to analyze process of choice. Analysis of choice let us understand, how people take action, how they interact with each other, how to estimate the results of people’s acts, how to influence on their choice. The knowledge of the three facts about choice will help you to increase your selling, to avoid of the interfering manager’s mistakes, and to look more attractive.

ELLMAN M.

TERRA ECONOMICUS, 2014, Vol. 12 (no. 2),

p. 117-119

 

A.B. VYSOTSKAYA
Associate Professor of the Department of Accounting and Auditing, Southern Federal University

TERRA ECONOMICUS, 2014, Vol. 12 (no. 2),

p. 109-116

Considering the origins of globalization and defining its concept, the paper provides a review of the current research pertaining to understanding the role of globalization process in developing countries economy. In the paper, several issues that require thorough investigation are raised. A cross-disciplinary approach is implemented to show the difference in attitudes to the globalization process. The paper discusses empirical evidence on the economic consequences of this process and investigates its association with the adoption of international accounting standards in developing countries. The main aim is to argue that the influence of globalization on national accounting systems is much more significant in developing countries than in the other world and to suggest the ways of improving the situation. The empirical evidence of prior research leads to consider the information economy resources implications to overcome the difficulties of transition processes in developing countries. These findings are consistent with the hypothesis that the globalization causes the growing interdependence of the countries around the world, and paper contributes to solving the existing problems caused by transition and suggesting ways to improve this process.

L.A. SHAFIROV
Candidate of Sociology (PhD), MBA (St. Gallen University), Executive DBA Candidate at the Financial University under the Government of the Russian Federation, Moscow, Executive PhD Candidate at SKEMA Business School, Lille, France

TERRA ECONOMICUS, 2014, Vol. 12 (no. 2),

p. 88-108

Recent research on inclusive financial services reveals the urgency of issues related to product development in retail banking, and especially for low-income groups. The article provides a review of literature on microfinance, relationship banking, social banking, community banking, and group lending in context of achieving financial sustainability by both borrowers and lenders having their interests harmonized with those of sustainable territorial development. The theoretical gap is identified, showing the lack of researchers’ attention to retail product/service development aimed at harmonization of interests of consumer lending system participants. Increasingly important role of local communities in sustainable (= rational) lending is proved. The conclusion is made that the product development in retail banking, being community-oriented, should be aimed at the alignment of interests of the borrowers and the lenders, along with sustainable territorial development priorities.

Y.V. RAZVADOVSKAYA
Candidate of Economics (PhD), Assistant, Department of Innovation and Economic Design, Southern Federal University

I.K. SHEVCHENKO
Professor, Doctor of Economics (DSc), Department of Innovation and Economic Design, Southern Federal University

TERRA ECONOMICUS, 2014, Vol. 12 (no. 2),

p. 82-87

The article examines the role of foreign direct investment (FDI) and transnational corporations (TNCs) in the modernization of metallurgical complex and increase its competitiveness in the global market of ferrous metallurgy. Experience upgrading metallurgical complex in China and India suggests that FDI and TNCs contribute to an increase in the transfer of new technologies and new knowledge management practices, which are key factors increasing the competitiveness of the industry.

E.A. PAIN
Doctor of Politics (DSc), Professor of the Department of State and Municipal Management of the National Research University Higher School of Economics, General Manager of the Center for Ethnopolitical and Regional Studies, Leading staff scientist of the Institute of Sociology of the Russian Academy of Sciences, Moscow

TERRA ECONOMICUS, 2014, Vol. 12 (no. 2),

p. 72-81

The article is devoted to the little-known issue of using traditions in the modernization processes management. Examples of reliance on nomadism tradition in Kazakhstan management practices are given, in particular, used during moving of the new capital to Astana. The author examines the boundaries of foreign adoptionы using in the socio-economic life of Kazakhstan, including seemingly close to the republic Eastern countries traditions. However, modernization potential of traditions is limited as well: it only works at the start of modernization.

H.I. KHANIN
Doctor of Economics (DSc), Professor, Siberian Institute of Management – branch of the Russian Presidential Academy of National Economy and Public Administration, Novosibirsk

TERRA ECONOMICUS, 2014, Vol. 12 (no. 2),

p. 42-71

The main trends of Russian economic thought in 1990s are analyzed. Left-wing streams of economic thought characterized the dimensions of economic recession and its long-term effects, including decline in living standards, relatively objectively. Their constructive program was less justified and controversial. Radical market proponents were compelled, in the face of the economic crisis and widespread popular discontent, to correct their original program, allowing greater state intervention in the economy and sphere of social protection. Moderate market proponents evaluated the results of the reforms even more critically, standing more strongly, than radical market proponents did, for economic regulation and social protection. Democratic proponents of the market, who viewed the reforms mainly with relation to the authorities’ indifference to the interests of most of the population, were inclined to a mixed economy semi-socialist model similar to the New Economic Policy (NEP) course. Other highly original economic ideas of the period under discussion are analyzed (by V. Belkin, М. Bernstam, А. Zinoviev).

V.V. MELNIKOV
Candidate of Economics (Ph.D.), Associate Professor, Novosibirsk State Technical University, Novosibirsk

TERRA ECONOMICUS, 2014, Vol. 12 (no. 2),

p. 34-41

The article represents an extensive commentary on the paper by R.T. Ely «Competition: its Nature, its Permanency, and its Beneficence» which reflects debate in European and American scientific community in the beginning of XX century. The point of view is offered which allows both sides of ideological conflict – proponents and opponents of competitive ideology, – to treat competitive behavior in non-contradictory way of thinking. Taking into consideration the achievements of XX century social psychology and sociology, the concept of non-competitiveness as a feature of psychologically rational economic behavior is introduced. The influence of interpersonal competition’s increase on agreements’ violations is shown as a factor decreasing their efficiency; therefore, only competition within the institutional framing to be perceived as favorable. The efficiency of market competitive mechanism as the factor reducing transaction costs of adaptation is argued.

V.V. VOLCHIK
Doctor of Economics (DSc), Professor, Southern Federal University, Rostov-on-Don

TERRA ECONOMICUS, 2014, Vol. 12 (no. 2),

p. 22-33

Manifold approaches to the analysis of the institution of property are considered in the article. We, in particular, stress the deliberative nature of the process of various schools interaction in the framework of modern institutional economic theory. The theoretical concepts of Old Institutionalism and New Institutional Economics applied to the institution of property have been analyzed. We have likewise exposed the primary theoretical instruments of the analysis. The major contemporary problems concerned with the institution of property are posed in the article.

G.A. GRACHEV
Candidate of Physical and Mathematical Sciences (PhD), Leading Staff Scientist, Southern Federal University, Rostov-on-Don

TERRA ECONOMICUS, 2014, Vol. 12 (no. 2),

p. 12-21

The paper defines the parameters of the medium-term and short-term cycles in the Russian economy. The author proves that the crisis of 2008–2009 had occurred in the bottom of the medium-term cycle, which gives reason to believe that the next crisis could happen in summer 2019, and precedes the recession in the beginning of 2015. The dynamics of the share of industrial production in the branch structure of the economy is used for the business cycle parameters estimation.