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BITCOIN: A REGRESSION ANALYSIS OF CRYPTOCURRENCY INFLUENCE ON RUSSIAN ECONOMY

ANNA LOSEVA,
LOMONOSOV MOSCOW STATE UNIVERSITY, ECONOMICS FACULTY
ANNETTE_ELLE@MAIL.RU

Abstract. TThe article examines the electronic payment system «Bitcoin» with the eponymous digital currency. The goal was to analyze the impact of this cryptocurrency on the Russian economy and determine the nature of this influence. Various models of regression were built and the most suitable of them were chosen. During the analysis of actual data the writer has come to the conclusion that at the moment bitcoins do not have any negative impact on the Russian economy and, therefore, should not be banned.

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A REGRESSION ANALYSIS OF CRYPTOCURRENCY INFLUENCE ON THE US DOLLAR

ALINA KHVAN,
LOMONOSOV MOSCOW STATE UNIVERSITY, ECONOMICS FACULTY
KHVANALINA17@GMAIL.COM

Abstract: The study shows that the proliferation of cryptocurrencies, bitcoins in particular, weakens the US dollar and, therefore, may negatively affect the country’s economy. This raises the need to regulate the Bitcoin system.
Keywords: cryptocurrency, bitcoin, exchange rate, dollar, US, analysis.

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PROVING THE RELATIONSHIP BETWEEN THE PARAMETERS OF THE STOCK MARKET AND INTERBANK LENDING MARKET: THE KYRGYZ STOCK EXCHANGE

EKATERINA ROMANOVA,
LOMONOSOV MOSCOW STATE UNIVERSITY, ECONOMICS FACULTY
ROMANOVA.EKO@GMAIL.COM
MARIA ELCHANINOVA,
LOMONOSOV MOSCOW STATE UNIVERSITY, ECONOMICS FACULTY
YULIA LOS,
LOMONOSOV MOSCOW STATE UNIVERSITY, ECONOMICS FACULTY

Abstract. This paper presents calculations reaffirming practical application of an earlier posed theoretical model explaining relationship between the rate of one-day credits in the interbank market, volume of speculative investments and total securities under which transactions have been closed. This article is written based on the Kyrgyz stock exchange data.

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INFLUENCE OF WORKING CAPITAL MANAGEMENT ON PERFORMANCE OF RUSSIAN WHOLESALE BUSINESSES

SVETLANA MAKAROVA
LOMONOSOV MOSCOW STATE UNIVERSITY, ECONOMICS FACULTY
SVTLMAKAROVA@GMAIL.COM
YELENA YERMAKOVA
LOMONOSOV MOSCOW STATE UNIVERSITY, ECONOMICS FACULTY
EEVPNZ@YANDEX.RU


Abstract. The present study analyses the influence of cash conversion cycle and its components on the profitability of Russian wholesale businesses. Conventional theory implies that a shorter cash conversion cycle benefits the business, a claim supported by numerous empirical studies, with some research, however, suggesting otherwise. The present paper uses regression analysis of panel data including 1 323 observations of 189 Russian wholesale businesses for the period of 7 years from 2009 to 2015. Linear econometric model results confirm that cash conversion cycle length is inversely related to profitability. Moreover, the paper makes an empirically based argument for managing each component of the cycle and demonstrates a negative influence of high levels of financial constraint and working capital ratio on profitability and a positive influence of company size, revenue and GDP growth rates.

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PECULIARITIES OF GTAP AGGREGATION
WITH REGARD TO THE PROBLEM OF ‘SELF-TRADING’

VLADIMIR SEDALISCHEV
RUSSIAN PRESIDENTIAL ACADEMY OF NATIONAL ECONOMY AND PUBLIC ADMINISTRATION UNDER THE PRESIDENT OF THE RUSSIAN FEDERATION
SEDALISCHEV-VV@RANEPA.RU
BEKHAN CHOKAEV
RUSSIAN PRESIDENTIAL ACADEMY OF NATIONAL ECONOMY AND PUBLIC ADMINISTRATION UNDER THE PRESIDENT OF THE RUSSIAN FEDERATION
CHOKAEV@RANEPA.RU

Abstract: The present paper deals with the problem of ‘self-trading ’ that occurs when compiling a database for a set of economic sectors and regions by aggregating the data from an existing general database. The nature of the problem is that combining several countries into a region means that all trade is carried out within one region that, as it were, trades with itself, which can distort the picture of reality obtained using a model based on such data. The paper presents an algorithm for aggregating the GTAP database which solves the problem of ‘self-trading’, and provides its source code in the GAMS programming language.

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