What Is Pushing the Oil Prices Down?

What Is Pushing the Oil Prices Down?

photo: Ryan Lackey A new pricing consensus has emerged on the global oil market, spurred by financial and intrinsic factors. The fall in prices for ‘black gold’ has been a key shift in the global oil market in recent years. If, in 2014, the average annual price of a barrel of Brent cost $99, then in […]

Why Is Gazprom’s Output on the Decline?

Why Is Gazprom’s Output on the Decline?

photo: Ricardo Cabral The monopoly is forced to adjust supplies against falling demand on the Russian and European markets. In the past year, Gazprom has set a new anti-record for gas production. Based on the results for the past 12 months, its production volume is set to 409.4 billion cubic metres in the wake of the […]

Has the Embargo Damaged Farmers in Europe?

Has the Embargo Damaged Farmers in Europe?

photo: Wayne Stadler EU food products exporters have not been affected as much from the counter-sanctions as Russian consumers. In November, at an ‘Action Forum’ of the All-Russia People’s Front, Vladimir Putin promised not to reverse the food embargo for as long as possible. Russia had been forced to restrict the import of farm produce in […]

Japan’s Great Recession: Lessons for Today’s Global Crisis

Japan’s Great Recession: Lessons for Today’s Global Crisis

  photo: Nicolas Raymond The Land of the Rising Sun emerged from the prolonged stagnation of the 1990s by carrying out various initiatives such as deregulation, privatisation and fiscal consolidation; these methods remain relevant today for many developed and developing countries. For some developed countries, the crisis that began in 2008 was far from being the […]

Why Gazprom is Losing Markets?

Why Gazprom is Losing Markets?

photo: Ricardo Cabral Fares Kilzie – CREON Energy, Chairman of the Board of Directors Kirill Rodionov – IndexBox Marketing, Oil&Gas Analyst This summer, Alexey Miller began his fourth tenure as Gazprom’s CEO. In February, he was reelected without a dissenting vote by the company’s board of directors. That was hardly a surprise; Miller is trusted by Vladimir […]

How to Resolve the Fiscal Problems of Southern Europe?

The Southern European fiscal mess has triggered the crisis on the continent. In January 2010, the European Commission discovered falsifications of the Greek budget statistics (Arganda and Caselli 2012). It undermined investors’ confidence in the country’s debt securities. A sharp increase in bond rates forced Brussels to rescue Greece from default. The Greek government received […]

Why Russia Should Change Its Immigration Policy

Today, there is a consensus among Russian economists that the country’s government should encourage labor migration from the former Soviet Union. Such respected experts as Sergey Guriev, the rector of the New Economic School in Moscow, and Aleh Tsyvinski, a professor of economics at Yale University, strongly oppose the establishment of barriers to migration from the Central […]

Paying the High Price for Delayed Reforms

It is often said that Russia’s political elite doesn’t want to take unpopular decisions. The Russian leaders have yet to implement structural reforms in the economy, which are necessary for a dynamic economic growth. It is not very difficult to understand the logic of the ruling group. Most of the Russian leaders want to preserve […]

Russia May Share the Fate of the USSR

December 2011 marked twenty years since the disintegration of the Soviet Union; a collapse predetermined by the systematic flaws of the Soviet economic and political system. The Soviet institutions, which had mostly been formed at the turn of 1920s/1930s, were too rigid and unable to adapt to the challenges of the end of the twentieth […]