Anatomy of the “Economic Miracle”

Arkhipov, Alexey; Yerznkyan, Bagrat; Мартишин, Е.М.

doi:10.35808/ersj/450

Cited by 6 publications

(5 citation statements)

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“…Institutional trajectory of modernization should start with the "top" level of the existing features of economic systems and be concluded with the consideration of the general genotypic regularities of the global economic system, which does not deny the cultural and socio-economic features of the countries and regions. See also a paper (Arkhipov, Yerznkyan, Martishin, 2015), where the authors analyze evolutionary-institutional patterns and factors of economic growth and development on the example of a number of countries, which have demonstrated the "economic miracle".…”

Section: Culture and Its Relevance For Economic Action And Thinkingmentioning

confidence: 99%

Culture, Institutions, and Economic Performance

Yerznkyan¹,

Gassner²,

Kara³

2017

Montenegrin Journal of Economics

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This paper focuses on the ability of two closely related phenomena, namely culture and institutions (especially the in-formal ones, such as codes of conduct, norms of behavior, and conventions), to impact economic performance. The main emphasis here is on the first of the two -the culture. The paper deals with the impact of the latter on economic activity and agents' behavior regarded from different viewpoints, including quantified and qualified ones. In addition, national and cultural differences of socioeconomic reforms are considered, as well as relations between culture and economic systems, culture and institutions, influence of cul-ture both on intra-firm and inter-firm relations, on the example of Russian corporations which use hybrid agreements and mechanisms of transaction management. JEL classification:A12, B40, D21, M12, M14, O15, P00, Z10. Keywords:culture, economic performance, qualified and quantified approaches, institutions, inter-firm and intra-firm relations.From economic perspective, culture and institutions -especially considering the informal constraints such as "codes of conduct, norms of behavior, and conventions" -are related concepts. In fact, informal institutions are "a part of heritage that we call culture" (North, 1990, pp. 36, 37). In addition, the two are related in a sense that both contribute to economic performance. However, in this paper emphasis is made on culture and its ability to have an impact on the economic activity.

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Section: Culture and Its Relevance For Economic Action And Thinkingmentioning

confidence: 99%

Culture, Institutions, and Economic Performance

Yerznkyan¹,

Gassner²,

Kara³

2017

Montenegrin Journal of Economics

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“…The process of elimination could be done through an evolutionary transition strategy, assuming both the transformation of the old order and the gradual construction of genotypic economic models. Institutional trajectory of modernization, for example, could start with the «top» level of the existing features of economic systems and be concluded with the consideration of the general genotypic regularities of the global economic system, which does not deny the cultural and socio-economic features of the countries and regions (Arkhipov et al, 2015).…”

Section: Discussionmentioning

confidence: 99%

“…Institutional trajectory of modernization should start with the «top» level of the existing features of economic systems and be concluded with the consideration of the general genotypic regularities of the global economic system, which does not deny the cultural and socio-economic features of the countries and regions. See also a paper (Arkhipov et al, 2015), where the authors analyze evolutionary-institutional patterns and factors of economic growth and development on the example of a number of countries, which have demonstrated the "economic miracle".…”

Section: Adding Cultural and Institutional Contextsmentioning

confidence: 99%

Theory and Practice of Institutional Reforms in Russia

2019

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Сорок седьмой выпуск сборника включает два раздела: «Теоретические проблемы экономики и институциональных преобразований», «Прикладные проблемы и практика институциональных преобразований в России». Ключевые слова: экономика и система социальных ценностей, экономическая методология, институциональные преобразования, институты, экономическое развитие, технологические изменения, экономические системы.

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“…Some of these nations, notably the USSR also managed to achieve massive industrialization of the scale based on effective Five-Year Plans 13 . This same long term planning strategy later adopted by the People's Republic of China 14 , decades later remained at the core of the Chinese economic miracle 15 . Soviet technology level was slightly lagging behind the Western one but in some areas such as cosmic technology 16 it was cutting edge one at the forefront of global innovation 17 .…”

Section: Introductionmentioning

confidence: 94%

Future Health Spending Forecast in Leading Emerging BRICS Markets in 2030 - Health Policy Implications

Jakovljević

Lamnissos

Westerman

et al. 2021

Preprint

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Introduction: BRICS leading Emerging Markets are increasingly shaping the landscape of global health sector demand and supply for medical goods and services. BRICS’ share of global health spending and future projections will play a prominent role during upcoming 2020s. The purpose of current research was to examine decades long, underlying historical trends in BRICS’ nations health spending and explore these data as the grounds for reliable forecasting of their health expenditures up to 2030.Methods: BRICS’ health spending data spanning 1995 - 2017 were extracted from IHME’s Financing Global Health 2019 database. Total health expenditure, government, prepaid private and out-of-pocket spending per capita and GDP share of total health spending, were forecasted 2018 - 2030. The ARIMA (Autoregressive Integrated Moving Average) models were used to obtain future projection based on time series analysis.Results: Per capita health spending in 2030 is projected to be: Brazil: $1767 (95% PI: 1615, 1977) ; Russia: $1933 (95% PI: 1549, 2317); India: $468 (95% PI: 400.4, 535) ; China: $1707 (95% PI: 1079, 2334); South Africa $1379 (95% PI: 755, 2004). Health spending %GDP shares in 2030 are projected to be: Brazil: 8.4% (95% PI: 7.5, 9.4) ; Russia: 5.2% (95% PI: 4.5, 5.9) ; India: 3.5% (95% PI: 2.9%,4.1%) ; China: 5.9% (95% PI: 4.9, 7.0) ; South Africa: 10.4% (95% PI: 5.5, 15.3).Conclusions: All BRICS expose long term trend to increase their per capita spending in PPP (purchase power parity) terms. India and Russia are highly likely to maintain stable total health spending GDP% share until 2030. China, as the major driver of global economic growth will be capable of significantly expanding its investment into the health sector across an array of indicators. Brazil is the only large nation whose GDP% share of health expenditure is about to contract substantially during the third decade of the 21st century. The steepest curve of increase in per capita spending until 2030 seems to be attributable to India while Russia should achieve the highest values in absolute terms. Health policy implications of long term trends in health spending indicate the need for Health Technology Assessment dissemination among BRICS ministries of health and national health insurance funds. Matters of cost-effective allocation of limited resources shall remain the core challenge in 2030 as well.

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Anatomy of the “Economic Miracle”

Cited by 6 publications

References 1 publication

Culture, Institutions, and Economic Performance

Culture, Institutions, and Economic Performance

Theory and Practice of Institutional Reforms in Russia

Future Health Spending Forecast in Leading Emerging BRICS Markets in 2030 - Health Policy Implications

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