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Drivers and Barriers of Structural Changes in Russian Manufacturing in the Context of New Model of Economic Growth

Priority areas of development: economics
2016
Department: Laboratory for the Analysis of Companies' Competitive Ability
The project has been carried out as part of the HSE Program of Fundamental Studies.

Goal of research: The main objective of studies in this report is to provide the in-depth analysis of the internal and external factors of the growth and the development of the Russian manufacturing firms, including macroeconomic, industrial-specific and region-specific ones. The focus is on the internal firm-level factors, such as corporate governance, management and strategies. Also, the impact of the external factors (R&D policy, quality of regional institutions, state support for firms, state procurement system) has been studied.  o, as well as the regional investment climate features are related to the state economic policies (, including .  

Methodology: Empirical analysis is based mostly on econometric models, in particular,  OLS models, discrete choice models, qualitative choice models, Heckman models. Also the case-study technique is used for the analysis of the particular company.  

Empirical base of research: The various information bases are used in different studies, including The survey data for the HSE and European manufacturing firms’ surveys (EFIGE, RuFIGE), BvD RUSLANA database, SPARK-Interfax and FIRA-PRO microlevel databases, Rosstat official statistics, World Bank  BEEPS data, as well as the regional database collected by the International Center for Study of Institutions and development of Institute for Industrial and Market Studies.

Results of research:

1. The analysis and comparisons of alternative measures of the competitive pressure, calculated on the survey data has been conducted. It is demonstrated that the impact of the competition on the performance of firms is sensitive to the measurements and indicators used. In general the analysis shows that higher competition is negatively related to the financial indicators of the performance but positively correlated with innovation activity of firms, which is in accordance with the economic theory and empirical literature.

2. The analysis of data extracted from the firms’ accounting information has been used to analyze the impact of state financial support on the growth and the efficiency of manufacturing firms. The empirical evince on the negative link between the financial support from authorities the efficiency of firms has been provided. Nevertheless, there is a deference in the relationship pending on the objective of the support (for the current activity or for the capital needs): The current (operational activity is less common for exporters and the enterprises with high share of intangible assets.

3. The study concerned with the factors of strategic partnerships networking of Russian manufacturing firms demonstrated several interesting results. In particular, it has been shown that relatively younger firms (established in post-soviet times) are much more active in acquiring new strategic partners, while “old” firms seem to have finished the networking process and have less propensity for establishing new partnerships. 4. The new fact is established^ the active networking in terms of new partnerships is more common for the Russian regions with the relatively lower share of ethnic Russians, which suggests that the level of trust is different  for various ethnic groups. Also it is demonstrated that the most productive in terms of innovations are mixed partnership networks that include both Russian and foreign partners.

4. A preliminary descriptive comparative analysis of the productivity gaps between exporting firms and between exporters to different destinations provided some insights on the sel-selection effects for export and import in Russian manufacturing. Comparisons with the EU data shows that the gaps between the abovementioned categories is significantly higher in Russia.

5. The analysis of the integration processes in Russian industry has shown the overall slowdown of the corporate integration, probably due to the slowdown of the redistribution of property and ownership. Although the comparative analysis demonstrates that Russian manufacturing integration level is close to the level in other countries.

6. An interesting result has been provided by the analysis of drivers for introduction of decentralized managerial practices in Russia: the extent of decentralized management is introduced depends on the quality of courts and the general trust level and is negatively impacted by the level of business corruption in the region.

7. The interrelations between the participation of a firm in state procurement and the firm’s debt policy has demonstrated that while the participation in the state procurement facilitates more active demand for loans, those firms which participate in the state procurement on a regular basis prefer not to apply for loans. 8. For the first time in the Russian economic literature the original database on the state supported R&D projects has been analyzed by regions in order to find the link between the state R&D and state regional policies. The analysis allowed the conclusion of the low correspondence and coordination between these two. There are certain evidences that the distribution of the budget transfers is useless as an instrument to facilitate regional development without the instituons for coordination of different policies and without the accent on the innovatin-based development.

Level of implementation,  recommendations on implementation or outcomes of the implementation of the results: Mostly the results are of basic research type and has no immediate applications. Nevertheless, many of the results could be usefull for the developing efficient economic policies. 

Publications:


Долгопятова Т. Г. Концентрация собственности в российской обрабатывающей промышленности: эмпирические оценки // Известия Уральского государственного экономического университета. 2016. № 4
Долгопятова Т. Г. КОНЦЕНТРАЦИЯ СОБСТВЕННОСТИ В РОССИЙСКОЙ ОБРАБАТЫВАЮЩЕЙ ПРОМЫШЛЕННОСТИ: ЭМПИРИЧЕСКИЕ ОЦЕНКИ // Известия Уральского государственного экономического университета. 2016. № 4 (66). С. 30-39.
Gonchar K. R., Kuznetsov Y., Wade I. Lesson for a policy-maker from real-life self-discovery in economies with weak institutions, in: Advances in the theory and practice of smart specialization. L. : Elsevier, 2017. P. 225-248. doi