On Economics of Innovation Subsidies in Russia

On Economics of Innovation Subsidies in Russia

Following the general agreement that innovation is a source of economic growth, the Russian government has provided various stimuli to foster domestic innovation. One of the mechanisms of innovation policy is research subsidies. This policy brief starts off with a discussion of the theoretical predictions...
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Higher Competition in the Domestic Market – A Way to Boost Aggregate Productivity

Competition is a good thing not only because of lower prices and larger variety. Higher competition in the domestic market also shifts necessary labour and capital resources from less productive domestic-oriented firms to export-oriented productivity champions. Such firms will make better use of production factors...
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And the Lights Went Out – Measuring the Economic Situation in Eastern Ukraine

This policy brief assesses the economic situation in the war-affected East of Ukraine. Given that official statistics are not available, we use changes in nighttime light intensity, measured by satellites, to estimate to what extent the war has destroyed the economy, and whether any recovery...
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Is Local Monetary Policy Less Effective When Firms Have Access to Foreign Capital?

Central banks affect growth in part by raising or lowering the cost of investment through their influence over local interest rates. We examine whether the ability of local firms to raise money abroad reduces the influence of local monetary policy authorities. Surprisingly, it does not....
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