Commonwealth Of Independent States Region Research Articles

Do CBDCs promote financial inclusion and strengthen the monetary regulations?

Digital currencies are impacting the financial lives of people and countries around the world; particularly developing countries see the retail Central Bank Digital Currencies (CBDCs) as an opportunity to increase financial inclusion and introduce new monetary policy implementation mechanisms. The decision to launch a digital currency mainly depends upon the goals and objectives being set by the Central Bank of any respective country. Digital currencies help to implement monetary policy more effectively to achieve the financial system stability. Kazakhstan is the leading economy in the Commonwealth of Independent States region; the digital payments market is changing rapidly in Kazakhstan, being driven by fintech innovations and public investments in payment technologies. In this article, we thoroughly discussed how launching of “Digital Tenge” is promoting financial inclusion and strengthening the monetary regulations across Kazakhstan. We took the case of Kazakhstan because it’s the first country from Central Asia which took the initiative of launching digital currency, and the National Bank of Kazakhstan has already announced that implementation of “Digital Tenge” would be completed in Kazakhstan by the end of 2025. The implementation of a “Digital Tenge” as a CBDC in Kazakhstan would expand the range of financial services being available to the nation. Having direct authority over the digital currency will empower the National Bank of Kazakhstan to adopt more efficient monetary policy, exerting influence over interest rates, money supply, and general economic stability. Furthermore, by providing digital financial services to marginalized communities, the digital Tenge would also help to solve the difficulties of financial inclusion in Kazakhstan. The article provides the possible policy routes for the governments of developing countries and the financial regulators about adopting CBDCs for promoting financial inclusion and to strengthen the monetary regulations.

Assessing the Effect of Joining the World Trade Organization on Trade Performance: A Study of CIS Countries

This research delves into the impact of World Trade Organization (WTO) membership on trade dynamics in the Commonwealth of Independent States (CIS) region, focusing on the potential augmentation or diversion of trade resulting from CIS countries’ WTO accession. The study context is grounded in the interplay between regionalism, represented by regional trade agreements and historical connections, and global integration facilitated by WTO membership. The study also scrutinizes the potentially complicating role of the Eurasian Economic Union (EAEU) regional bloc, referencing the ‘Spaghetti Bowl’ phenomenon of overlapping trade agreements. The gravity model of trade serves as a conceptual foundation to understand the effects of WTO membership and regional trade agreements on trade costs. Empirical results suggest that WTO membership has not enhanced trade for the CIS. Instances of trade within the CIS region where there is only one WTO member have resulted in a positive trend, even though there is no robust evidence that it is due to WTO membership. The EAEU enhances trade and serves as a trading bloc within the region. This study highlights that while the WTO strives to foster trade liberalization and growth, its effects can be region-specific and complex, as demonstrated by the CIS region’s experience. The research also hints at the importance of intra-regional trade and unique regional factors as critical determinants of trade patterns, which can enhance broader trade expansion and economic development.

Convergence or Divergence in Economic Growth of Commonwealth of Independent States (CIS)

Abstract In this study, the issue of economic growth and Convergence in the 12 countries of the CIS region has been investigated thoroughly for 27 years, from 1991–2017. The paper examines the absolute, sigma and conditional Convergence of the CIS region. Conditional Convergence is examined through the augmented Solow and extended Solow models. During the study period, the empirical results confirm no significant negative correlation between the initial ratio of the countries per capita GDP and the average yearly growth rate. Thus, indicating the absence of absolute β convergence across the CIS economies during 1991–2017. The results of the sigma convergence are consistent with the results derived from the absolute convergence model. Referring to the augmented Solow model estimations, we found the rate of conditional β-convergence (coefficient of initial GDP per capita) of value 0.028 among members of the CIS region after controlling GDP per capita, physical and human capital and population growth have important contributions to make in the growth and Convergence of countries. In Solow extended growth regression, the initial GDP per capita coefficient is 0.33. Therefore, besides the initial level of per capita income, physical and human capital and population growth, other factors have important contributions to make to the growth and Convergence of countries of CIS.

Opportunities and Threats for Integration Cooperation within the Framework of the Union State of Belarus and Russia: Strategic Situational Analysis. Part 1

Aims: identification of key factors of integration interaction within the internal dimension of the Union State of Belarus and Russia. Methods: informal substantive analysis of documents, formal legal method, SWOT analysis. Results and discussion: A set of internal factors of a system-wide nature, directly localized on the territory of the Union State, is investigated. These factors are interpreted as being of fundamental importance for ensuring the positive dynamics of Russian-Belarusian integration. The strengths and weaknesses of bilateral interaction are shown, taking into account theirinfluence, the results achieved and the likely directions of evolution in the context of the “restart” of integration, attributed to the autumn of 2021. The determinants of different levels of the discussion plan, including the motives of the power elites, are emphasized. Conclusion: The important advantages of the Union State, which distinguish it from other integration associations of the Commonwealth of Independent States region, are the multidimensionality, the coupling of different spheres of integration, the combination of axiological and utilitarian levers of integration. It has significant opportunities for progressive development in the future. However, there are also very tangible threats and risks of internal origin in the Union State. It is recommended to pay close attention to the elimination of internal vulnerabilities and the improvement of branding technologies and information support of the Union construction.

Soft and hard skills identification: insights from IT job advertisements in the CIS region

Labor market transformations significantly affect the sphere of information technologies (IT) introducing new instruments, architectures, and frameworks. Employers operate with new knowledge domains which demand specific competencies from workers including combinations of both technical (“hard”) and non-technical (“soft”) skills. The educational system is now required to provide the alumni with up-to-date skill sets covering the latest labor market trends. However, there is a big concern about the self-adaptation of educational programs for meeting the companies’ needs. Accordingly, frequent changes in job position requirements call for the tool for in-time categorization of vacancies and skills extraction. This study aims to show the demand for skills in the IT sphere in the Commonwealth of Independent States (CIS) region and discover the mapping between required skill sets and job occupations. The proposed methodology for skills identification uses natural language processing, hierarchical clustering, and association mining techniques. The results reveal explicit information about the combinations of “soft” and “hard” skills required for different professional groups. These findings provide valuable insights for supporting educational organizations, human resource (HR) specialists, and state labor authorities in the renewal of existing knowledge about skill sets for IT professionals. In addition, the provided methodology for labor market monitoring has a high potential to ensure effective matching of employees.

Business cycle synchronization in the CIS region

Abstract This paper examines business cycle synchronization in the Commonwealth of Independent States (CIS) region. We investigate the role of the global factor and the CIS factor in evolution of business cycles in the CIS countries by applying a dynamic factor model. In addition, we also examine whether the role of these two factors has changed over time. Results indicate that overall business cycle synchronization of these countries within the region and globally is low. Russia is the most globally integrated CIS country and Belarus displays the highest degree of co‐movement with the CIS factor. Our results show that 2014 Russo–Ukrainian conflict and subsequent Russian sanctions had a profound effect on the region leading to an increase in synchronization within the CIS and decline in the role of the global factor.

THE FINANCIAL PERFORMANCE OF DEVELOPMENT IN THE COMMONWEALTH OF INDEPENDENT STATES BANKING SECTOR

Our purpose is to investigate how bank-specific, macroeconomic indicators and political stability in the country impact commercial banks’ profitability in CIS (Commonwealth of Independent States) countries during the period of 1991-2017.Methodology. To conduct empirical analysis, we applied feasible generalized least square (FGLS) method.The originality / value of the research is the contribution to the existing literature is twofold: first, to estimate profitability determinants we used broad range of years from 1991 to 2017, secondly, the application of FGLS model was employed for the first time to conduct the research in CIS region using new indicators such as political stability, corruption and global financial crisis dummy.Findings. Results of our empirical analysis state that some bank specific factors have positive and significant impact on profitability, while macroeconomic factors affect financial performance negatively. Political stability has no effect on profitability of banks in CIS countries.

Multilateralism in Foreign Policy of Belarus: European and Euarasian Dimension

The article builds on the author’ comparative analysis of advantages and disadvantages of regional dimensions (both towards the European Union and the CIS region) of Belarusian foreign policy in framework of multilateralism. The lack of political cooperation since 1997 didn’t affect a lot the dynamic of economic bilateral cooperation between the EU countries and Belarus (since 1995 the EU is the second trade partner for Belarus after Russian Federation). Contrary, it is growing tendency in the CIS region in certain shift from bilateralism to multilateralism in pursuing national security, political and economic interests. Multilateral regional structures, from the Commonwealth of Independent States (CIS), Eurasian Economic Union (EAEU) between Armenia, Belarus, Kazakhstan and Russian Federation (with membership of post-soviet countries) to Shanghai Cooperation Organization (SCO) with membership of Russia and China and observer status of India, Pakistan, Iran and Mongolia and status of dialogue partner for Belarus, Turkey and Shri-Lanka are gaining the power as the essential modes of regional governance, though being still different in integration priorities of member states and fragile in institutions. Existing difficulties should not overshadow gains within those organizations, nor regional dynamism in general by assuming that regional approach towards multilateral cooperation are thought to be more efficient when dealing with local, subregional and regional challenges and problems.

How Is Mortality Affected by Fossil Fuel Consumption, CO2 Emissions and Economic Factors in CIS Region?

It is widely discussed that GDP growth has a vague impact on environmental pollution due to carbon dioxide emissions from fossil fuels consumed in production, transportation, and power generation. The main purpose of this study is to investigate the relationships between economic growth, fossil fuel consumption, mortality (from cardiovascular disease (CVD), diabetes mellitus (DM), cancer, and chronic respiratory disease (CRD), and environmental pollution since environmental pollution can be a reason for societal mortality rate increases. This study uses the generalized method of moments (GMM) estimation technique for the Commonwealth of Independent States (CIS) members for the period from 1993–2018. The major results revealed that the highest variability of mortality could be explained by CO2 variability. Regarding fossil fuel consumption, the estimation proved that this variable positively affects mortality from CVD, DM, cancer, and CRD. Additionally, any improvements in the human development index (HDI) have a negative effect on mortality increases from CVD, DM, cancer, and CRD in the CIS region. It is recommended that the CIS members implement different policies to improve energy transitions, indicating movement from fossil fuel energy sources to renewable sources. Moreover, we recommend the CIS members enhance various policies for easy access to electricity from green sources and increase the renewable supply through improved technologies, sustainable economic growth, and increase the use of green sources in daily social life.

International Projects of The National Society of Pediatric Hematologist and Oncologists

Background and context: International cooperation is a key factor in the success of multicenter studies and educational projects, especially in LMICs. Aim: To describe projects of The National Society of Pediatric Hematologists and Oncologists (NSPHO) in the international collaboration. Strategy/Tactics: NSPHO international projects: optimization of care for children with cancer in Commonwealth of Independent States (CIS) and developing relationship with international organizations such as UICC, SIOP (Asian region). Unique feature is that these projects based on collaboration between healthcare professionals and governments with support of leading institutions. Program/Policy process: Program based on online and off-line meetings and courses. CIS project (in collaboration with WHO and St. Jude Children's Research Hospital) based on series of scientific and organizational meetings (online/off-line). Aim of this work is to organize a community of pediatric hematologists/oncologists of the region and prepare unique projects to improve the outcomes of treatment of pediatric cancer cases. Next meeting under the auspices if WHO will be held in Moscow in April 2018 (participants from 10 countries). The objectives of this meeting are to describe current situation of pediatric oncology care in the region, identify regional gaps in pediatric oncology care, and create collaborative project proposals to address identified gaps in care to improve pediatric cancer outcomes in the region. NSPHO working close with SIOP Asia: SIOP Asia Congress was organized in Moscow in 2016. Second project is developing of Directory of Asian Societies and Foundations in the field of pediatric hematology and oncology. Russian-Vietnamese collaborative group in pediatric hematology and oncology was formed in November 2017 in Vietnam. Second meeting of this group is planned for April 2018. Outcomes: More than 5 collaborative projects will be discussed such as CIS cancer registries, collaborative multicentre protocols, educational outreach projects, etc. As the deliverables the plan to publish a special report as well as a resolution to the Ministries of Health of CIS region. SIOP Asia Congress in Moscow was one of the most successful, attracted 1000 participants from 40 different countries attended. New relations were started. Directory of Asian Societies and Foundations in the field of pediatric hematology and oncology includes information on more than 40 organizations. Printed version will be presented at SIOP 2018 Congress in Kyoto. Several collaborative projects discussed in Russian-Vietnamese group. A “memorandum of understanding” was signed as a part of this meeting. It was decided to continue a series of scientific meetings as a part of collaboration. What was learned: Only active international collaboration supported by healthcare professionals and governments could lead to strong improvement of outcomes of pediatric cancer care in all countries worldwide.

From status inconsistency to revisionism: Russian foreign policy after color revolutions

Abstract This paper delves into the shifts in the foreign policy of Russia, considering what has determined Russia's grand strategy orientation after the collapse of the Soviet Union. It also attempts to offer an explanation of why Russia becomes discounted with the ‘constitutive and normative structure’, and how its foreign policy shifted toward the anti-status quo orientation, especially after the color revolutions. The main purpose of this paper is to explain the shift in Russia's foreign policy, from the search for the ‘greatpowerness’ status via different enhancement strategies in light of status quo in the ‘revolutionary decade’, to revisionism after the color revolutions in Commonwealth of Independent States region (2003–2005). To substantiate this, the study uses process-tracing and document analysis to show the changes in Russia's foreign policy. As demonstrated in this paper, power rendered is unable of directing or disinclined to direct its policies toward status quo, due to internal effects of perceived ‘status immobility’ resulting from the failure of several status enhancement strategies. Accordingly, the shift in Russia's foreign policy was a result of changing the Russian perception from status inconsistency to status immobility.

Количественный анализ феномена геополитического плюрализма постсоветского пространства

Twenty-five years have passed since the collapse of the Union of Soviet Socialist Republics (USSR), which led to the disruption of the regional check-and-balance system aimed at resolving national issues and political and socioeconomic contradictions. It also resulted in a number of armed conflicts, including those in the Chechen Republic, Nagorno-Karabakh, Transnistria, Tajikistan, Abkhazia, South Ossetia and later in the South-East of Ukraine.Immediately following the collapse of the USSR, key international actors paid special attention to the Commonwealth of Independent States (CIS) region while trying to secure own interests. This led to the further stratification of the CIS region. A “geopolitical pluralism” started to form there, marked by the fragmentation of nation-state sovereignty over the territory.The concept and policy of “geopolitical pluralism” as developed by Zbigniew Brzezinski meets the interests of the United States by making the CIS region more manageable, while at the same time making it more difficult for Russia to implement its own strategic tasks there. The key goal of Russia is the creation of an integrated economic and political union able to take a rightful place in the world. Only the development of deep and comprehensive integration with the CIS states can ensure the competitiveness of Russia’s position in the world as well as the positions of its partners in the former Soviet space.The purpose of this article is to assess the level of geopolitical pluralism in the CIS space taking account of the membership of the CIS countries in international organizations and their voting on UN General Assembly resolutions. The study is based on the interconnection of quantitative and qualitative methods of analysis of international relations and world politics.During the past quarter century following the collapse of the Soviet Union, a regional system of international relations has formed in its place. Despite the fact that the CIS is a kind of linking element which unites most of the former Soviet republics, a certain competition between the new states has become the characteristic feature of the political relations in the region.The policy of the west (primarily the United States) became a kind of a branched, diversified strategy aimed at the phased development, transformation and fragmentation of the region. The diversity of foreign policy priorities among the CIS states and the presence of many actors in the region makes mutual understanding and good-neighbourliness between these countries difficult to achieve. To the contrary, this diversity seriously complicates and slows down the development of deep and comprehensive integration, making it more unstable and ineffective.The research was carried out with the financial support of the Russian Foundation for Basic Research in the framework of the scientific project RFBR-CASS No. 17-27-21002.

Proceedings From the 1st International Conference 'Current Concepts and Controversies in Gynecologic and Urologic Oncology'.

Proceedings From the 1st International Conference 'Current Concepts and Controversies in Gynecologic and Urologic Oncology'.

The Main Vectors of Cross-Border Development in the CIS Industrial and Economic Space: Convergence, Potential, Cross-Country Gaps

The main goal of the study is to identify the scope and trends in the manufacturing development of Russia and other countries of the Commonwealth of Independent States (CIS) in the context of integration effectiveness, industrial policies quality and competitiveness growth. Under current unfavorable conditions – the fall in world oil prices, devaluation of national currencies, and reduction of business activity due to uncertainty of future strategies – the essential issue is whether the favorable integration possibilities of the past periods of intensive rise in 2005-2008 and 2010-2012 in the national economies development in the CIS region to build competitive potential for re-industrialization were fully realized.The analyzed period 2005-2014 is presented by the authors as a reference period of economic dynamics, covering for Russia and the CIS countries a full business cycle from the beginning of one deep recession (2008-2009) until another recession (2014). The research object is manufacturing sectors in Russia and other CIS countries. The study results show that in the analyzed period, large-scale industrialization has not occurred in these countries, largely due to the lack of the national economies structural transformations. The impressive manufacturing growth in a number of smaller CIS countries has not led to those countries’ participation in the highly competitive international processes. By the end of the analyzed period, the need for diversification of the national economies and exports and implementation of balanced economic policies only intensified. These policies should support both structural reforms and demand and be aimed to increase productivity, eliminate barriers of the manufacturing development and enable foreign markets access.

Intra- vs. extra-regional migration in the post-Soviet space

The paper addresses the distinctiveness of migration flows in the post-Soviet space east of the European Union: the Commonwealth of Independent States (CIS) and Georgia. Population mobility within this region is hypothesized to differ from extra-regional population movements due to the common institutional past of these states, all of which were once the USSR republics. It has been claimed that CIS countries form a distinct post-Soviet migration system. Within the framework of the migration systems theory, this paper offers a quantitative analysis of the scale and mechanics of cross-border population mobility in the region. By means of network analysis, it examines the intensity and distinctiveness of intra-regional migration flows relative to those between the region and third countries. We have also used an econometric gravity model to identify the main drivers of migration flows in the region. The resultant findings show that the existence of the post-Soviet migration system is questionable and should not be treated axiomatically. This is because the mobility of people from and to the CIS region is relatively high, and the region is increasingly integrated into the international division of labor through trade and capital mobility. The cross-border mobility of people also reflects this globalization trend.

Regional Trade and Economic Growth in the CIS Region

This paper examines recent economic and trade developments in 11 countries of the Commonwealth of Independent States (CIS) and includes an empirical analysis of growth determinants in the region. In contrast to the standard growth literature, the paper brings different trade flows into the analysis and attempts to examine their effect on economic growth. Trade is divided into extra-regional and intra-regional trade without the Russian Federation (RF) and trade with the RF. A generalised method of moments panel data estimation methodology is employed to examine the determinants of growth. Key findings of the paper include: 1) Trade with the RF has a positive effect, although only moderate, on economic growth in the countries; intensification of trade with the RF by 1% adds, on average, 0.07% to the rate of growth; 2) Neither intra-regional trade without the RF nor extra-regional trade has a statistically significant impact on growth; 3) Investment, oil exports and economic freedom have a positive effect on economic growth. Higher government consumption is found to affect growth negatively.

Evaluating the efficiency of the global primary aluminum smelting industry: a data envelopment approach

The purpose of this paper is to evaluate the efficiency of the global primary aluminum industry. Efficiency is here taken to be evaluated relative to some benchmark, i.e., the smelter or smelters identified as the most efficient in the data set, thus forming the production frontier. The performance of individual smelters, specifically their technical, allocative, and scale efficiencies are calculated by the means of data envelopment analysis. A proprietary database containing data on inputs used, output, and cost of production for 151 primary aluminum smelters operational globally in 2003 were used in the efficiency estimations. In order to assess and contrast the performance of smelters at different locations, facing dissimilar policy and factor supply environments, smelters are grouped into geographical regions. Furthermore, the technology used will also be evaluated in terms of the above efficiency measures. For each region, measures of potential technical and cost-wise factor savings will be calculated in order to assess specifically in what way production factors improvements can be made and approximately how large these improvements are. The findings indicate that; (a) smelters are overall highly efficient given the scale of operation, (b) many smelters operate with increasing returns to scale and thus we find significant scale inefficiencies, (c) substantial allocative inefficiencies exist within the industry, and (d) there are significant variations in the level of efficiency across regions. The allocative efficiency is particularly low in regions such as China and the Commonwealth of Independent States (CIS) region. Finally, the greatest potential for factor reductions is in labor input in China, the CIS region and in Asia.

Business Climate in CIS Countries

The paper examines the quality of the business climate in the group of the Commonwealth of Independent States (CIS) from the prospective of the level of development of entrepreneurship, and individual countries’ attractiveness to the foreign direct investments (FDI). The analysis suggests that the main obstacles for further improvements of the business climate in this group of countries are high level of corruption, inefficiency in the existing system of tax administration and regulation, discretionary implementation of custom and trade regulations, low level of property rights protection, and macroeconomic instability. Some explanations of the historical and institutional causes of these business impediments are provided. Although the net FDI inflow to CIS countries has been substantially increased since the time they gained independence, it’s still well bellow than in Central & Eastern Europe Countries (CEE). The number of private enterprises per capita vastly varies within the CIS countries, with some of them approaching the OECD level, but some else lagging far behind. FDI stocks also unequally distribute within the CIS group. Fuel exporting countries are better off than fuel importing countries, although the individual country’s business climate within two groups does not differ significantly. As a conclusion, paper suggests a number of concrete public policy recommendations aiming to improve business climate in the CIS region.

The Russian case for military intervention in Georgia: international law, norms and political calculation

The Russian military intervention in Georgia in August 2008 has raised significant questions about Russian thinking and practice on the legitimate use of military force abroad, especially in relation to neighbour states. The arguments advanced by Russia to justify this campaign show how Russian interpretations of customary international law as well as norms related to the use of force have served as an instrument of state policy, rather than being rooted in any broader international consensus. The Russian discourse in this context about sovereignty, self-determination and the legitimacy of recognising South Ossetia and Abkhazia as states appears similarly to be strongly influenced by political self-interest and Russian views about its entitlement within the Commonwealth of Independent States (CIS) region. Among Russian claims, Moscow's commitment to support its ‘citizens’ abroad has been particularly controversial. This article examines these issues and also the possibility that, through its justifications for waging war against Georgia, Russia is more broadly contesting the interpretation of certain international norms, that it regards as essentially constructed by Western states. Some potential implications of these legal and normative arguments for future Russian policy in the CIS region, including Ukraine, are also examined.

Trade Integration in the CIS Region: A Thorny Path Towards a Customs Union

One of the peculiarities of trade integration in the Commonwealth of Independent States (CIS) is that it was launched by non-WTO members. Nevertheless, their wish to integrate into the multilateral trading system induced them to incorporate WTO standards into their RTAs. Another distinctive feature is that integration in the CIS proceeds at diverse speed and different levels. CIS integration towards a customs union has taken place in three directions within the CIS economic union, the Eurasian Economic Community (EurAsEC) and the Single Economic Space (SES), though only the EurAsEC project has remained operational. Overlapping disciplines adopted within different regional frameworks are a barrier to intense trade integration, so certain coordination is needed. The formation of a EurAsEC customs union in parallel with the WTO accession talks is very challenging. Thus it is suggested to finalize the creation of the customs union either before or after the WTO accession of all EurAsEC members. Oxford University Press 2009, all rights reserved, Oxford University Press.