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EERC news
May 27, 2016
The 40th Anniversary Research Workshop was held in Kyiv School of Economics, Kyiv May 21 - 22, 2016.
December 15, 2015
Your idea could be the next winner of the Global Development Awards Competition 2016. Every year, GDN awards up to $US 90,000 worth of grants to research proposals and innovative development projects as part of the Global Development Awards Competition. The deadline for submitting the proposals is 15 January, 2016.
December 02, 2015
Cеминар будет проводиться в КШЕ в Киеве 117-18 декабря 2015 года.
August 05, 2015
The unique KSE MBA program efficiently combines a comprehensive approach to a real-life case learning, analytical methods for decision-making and is specifically designed to educate a new generation of business leaders on how to make the most out of opportunities the global markets offer. KSE MBA combines high academic standards of top EU and US business schools with practical real-life cases from top employers of Ukraine which constitute an essential part of the program curriculum.
31st Research Workshop
List of participants
Group Project Status Researchers Project Title Project Description
11-059 C NP
Esenalieva Venera
Moldokanov Daniiar
Budget Deficit and Interest Rates Link. Evidence from Kyrgyzstan This paper analyses whether expected budget deficits have an impact on interest rate inKyrgyz Republic. Keynesian approach suggests that there is positive relationship betweengovernment budget deficit and real rate of interest (BD-IR). In order to analyze the BD-IR interrelation we use VAR model since we found that some of the variables are stationary and some are not. Another reason is the presence of autocorrelation. The model includes following variables: interest rate (R) is explained by a set of variables that include government budget deficit (BD), money aggregate M1, average interest rate of treasury bills (GKV), and growth of gdp (GDP). In addition, to verify the causality we use Granger-causality test.We took quarterly data from National Bank of Kyrgyz Republicand Ministry of Finance. Finally, after analyzing relevant literature, we expect strong positivecorrelation between government budget deficit and real interest rates.
11-585 C NP
Pestova Anna
Mamonov Mikhail
What was the key determinant of loan quality deterioration of Russian banks during the last crisis: macroeconomic conditions or risky business strategies? During the latest crisis Russian banking system was faced with a significant deterioration in the loan quality. Russian government was forced to carry out massive recapitalization of the major national banks to maintain their stability. To evaluate the effectiveness of such a policy measure it’s necessary to distinguish among the credit risk sources of affected banks. In particular, state capital injections into banks with aggressive pre-crisis business strategies creates a distorting incentives for other banks and may lead to an exacerbation of moral hazard in the middle-term perspective. The main purpose of our research is to separate the influence of macro- and microeconomic factors that led to an increase in bad loans of Russian banks using wide tools of panel data econometrics. The resulting findings can be applied for remote stress testing of banks and improve efficiency of government decisions on providing financial support to credit institutions.
11-583 A NP
Filchenko Dmytro
Iarmosh Ievgeniia
Socioeconomic Determinants of Mortality Problem in Ukraine: Regional Diversities The mortality problem discussed in this paper is still urgent despite increased lifetime during recent decades around the world. The research deals with analysis of factors which could influence regional mortality in Ukraine. The author used methods of econometrics while computing the possible interrelation between mortality and some particular factors.
11-581 C NP
Gnutzmann Hinnerk Claus
Mkrtchyan Arevik
Mutual Protectionism The customs union between Russia, Belarus and Kazakhstan will significantly affect economies and politics not only in these countries, but in the CIS more broadly. We pro- pose to develop a new political economy model of trade bloc formation and endogenous tariff setting that captures two essential features of the region: asymmetry of (national) market size and considerable closeness of political and business interests. We define the concept of mutual protectionism, a strong form of protectionism that is possible in customs unions but not free trade areas, and show that it can arise naturally in such an environment. Methodologically, we use a three-stage model where an exogenous trade bloc proposal is first accepted or rejected, then tariffs are sets and finally market out- comes arise given these policies. The impact on social welfare and producer profits both within and outside the CU is investigated; trade-offs for potential member countries are explored. Finally we seek to explore how the institutional design of the CU Commission, which has authority over tariffs, affects the policies taken in equilibrium.
11-577 B NP
Kirilenko Veronika
Minina Vera
Determinants of public schools’ performance. Does management matter? (on the example of secondary schools of Saint-Petersburg (Russia) The project addresses the factors, affecting performance of public secondary schools, namely its resources, strategic orientation and the level of autonomy. Being the source of efficiency gains autonomy increase can on the other hand arouse a considerable number of problems before establishment’s managers. It is argued that not all public organizations will withstand the pressures of the new conditions and will benefit from increased autonomy. The project considers the problem of estimation public organization’s potential for autonomous development. Its authors argue that organizational strategy is one of the key determinants of its potential for autonomous operation. They operationalize organizational strategy in terms of a concept developed by Miles and Snow. The hypotheses will be tested on data of secondary public schools of Saint-Petersburg.
11-574 C NP
Semko Roman
Optimal Economic Policy and Commodity Prices Shocks in Ukraine and Russian The goal of the proposed research project is to explain and analyze the relations between commodity pricing and real economy in Ukraine and Russia. It should help to reveal whether monetary/fiscal policy shock incorporates commodity prices and whether the Central Bank and/or government should include commodity prices into the lists of variables they try to respond. I offer to work within the modern Dynamic Stochastic General Equilibrium framework. The final model I plan to estimate using Bayesian econometrics in Dynare package. Having a strong background in econometrics and macro modeling, I hope that my skills and experience, when linked with the vision of the grant program, will serve to create profitable results both for my scientific development and improvement of monetary and fiscal policy regulations in Ukraine, Russia and CIS.
11-572 B NP
Yusupov Nurmukhammad
Breastfeeding, Son Preference and Child Health: Evidence from Central Asia. Breastfeeding is associated with many benefi…ts both for the mother and the child. Nevertheless, it is not unusual for mothers to wean their children early. We hypothesize that breastfeeding exhibits gender bias and aim to investigate the implications for child health in Central Asia. The results of this study will have direct policy implications for the healthcare and gender policy.
11-571 C NP
Popovych Andriy
TAC, overexploitation and conservation in the Azov Sea fishery The study of the Azov Sea fishery deals with problem of decreasing fishing stocks and catches. It recognizes the potential of the Sea of Azov as a fishing ground that can be realized if marine natural resources were managed sustainably. The present day research activity concentrates on the science of biology disregarding the economic behavior of natural resource users. Three questions of the study are whether the overfishing exists, whether the TAC helps to deal with overfishing, whether it is possible to create the conservation program. They are answered through bioeconomics theory and data from the Azov Sea fishery for the period of 1994-2011. The Gordon - Schaefer surplus production model serves as a basis for the econometric analysis from which biological and economic parameters estimated. The framework of the capital theory in application to natural resource economics is used in the study for development of the different scenario based conservation strategies.
11-569 C NP
Vymyatnina Yulia
Antonova Darya
Common economic area: is there an area for anything common in the economies concerned? The substance of the proposed project is to analyse recently created Customs union of Russia, Kazakhstan and Belarus, that will proceed to become a Common economic area (CEA) since January 2012, suggesting high level of integration, among other things, of economic policy measures. In the framework of the project we plan to study whether there is, in the created union, economic conditions, apart from political will, for more serious integration, if the economic area created is likely to be stable, and how the entrance of new members – first planned being Kyrgyzstan and Tajikistan – might influence the CEA. Analysis of the level of economic integration of the countries forming the Customs union and of the stability perspectives of this union will be conducted with the use of econometric methods, including GMM, IV, fractional cointegration, spectral analysis of time series. The results of the analysis will be used to formulate recommendations concerning measures of economic policy to enhance greater economic stability of CEA as well as to prevent possible problems due to differences in economic structure of member countries.
11-555 C NP
Vdovychenko Artem
Maximization the effectiveness of fiscal policy in the Ukraine in the context of its coordination with monetary policy In the study an empirical analysis is conducted of the effectiveness of fiscal policy in Ukraine, taking into account the interaction of the later with monetary policy the central bank. Under the effectiveness of fiscal policy we mean the value of fiscal multipliers. To measure the fiscal multipliers, as well as to study their interaction with the indicators of monetary policy, SVAR approach is used, which is traditional for such studies and helps to avoid some technical problems. Using simulations based on the received model and imposing restrictions on the parameters of monetary policy in a matrix of impulse responses the conditions under which fiscal multiplier reaches its maximum are supposed to be derived.