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1
Farzanegan, Mohammad Reza, and Hassan Gholipour Fereidouni. "DOES REAL ESTATE TRANSPARENCY MATTER FOR FOREIGN REAL ESTATE INVESTMENTS?" International Journal of Strategic Property Management 18, no. 4 (December 8, 2014): 317–31. http://dx.doi.org/10.3846/1648715x.2014.969793.
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The purpose of this paper is to examine the impact of real estate transparency (RET) on foreign real estate investments (FREI). Most of the previous studies have argued that the free flow of information and the fair and consistent application of local property laws could attract greater amounts of FREI. Using observations from 32 countries covering 2004, 2006, 2008 and 2010 and applying fixed-effect and the generalized method of moments (GMM) techniques, our empirical results reveal that RET is not a major determinant of FREI. However, we find that the effect of RET on FREI is dependent on its interaction with the level of income implying that the higher the level of income in the host country, the higher the effect of RET on FREI. Finally, the results show that foreign direct investment (FDI) in other sector, market size and property prices are important determinants of FREI.
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Kim, Dongjoong, Changha Jin, and Jin Man Lee. "International Real Estate Review." International Real Estate Review 24, no. 1 (March 31, 2021): 59–85. http://dx.doi.org/10.53383/100316.
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Financial globalization has enabled investors to allocate some of their portfolio assets to foreign countries and alternative assets. This environment has also created an increase in investment in international real estate especially in the emerging markets. In this study, we investigate whether foreign real estate investors outperform domestic investors after controlling for property specific characteristics. Using property level transaction data of Korea from 2003 to 2016, we also examine the characteristics of commercial real estate investment associated with the probability of an acquirer being a foreign investor versus a domestic investor. The binary and multinomial probability models are used to test our research hypothesis and the structural equation model is applied to find the determinants of the internal rate of return. The result reveals foreign investors perform better than domestic investors in a holding period analysis. Furthermore, the findings support that foreign direct and indirect real estate investments are statistically significant to the age of the building, corporate bond and exchange rates, growth domestic product growth, and the equity market movement in the domestic market.
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Viesturs, Jānis, Armands Auziņš, and Tatjana Štaube. "Arguments Used for Restricting International Real Property Transactions: Case Study of Latvia." Baltic Journal of Real Estate Economics and Construction Management 5, no. 1 (November 27, 2017): 62–75. http://dx.doi.org/10.1515/bjreecm-2017-0006.
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Abstract There is a wide range of factors - political, economic, legal, etc., which either limit or promote international real property transactions. It is considered that real property alienation to foreigners enhances foreign investment and economic development, however, some countries tend to limit such transactions. The current research provides a scientific view to reveal the reasons why certain countries impose different kinds of restrictions on international real property transactions. The objectives of this publication are: 1) to find out and analyse the existing arguments and reasons for limiting international real property transactions; 2) to determine the number and volume of international real property transactions in Latvia; 3) to identify the main argumentation for the current step and significant decline of international real property transactions in Latvia. Empirical analysis based on the review of scientific publications, statistical and comparative analysis of real property transactions are the main methods employed for this research.
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Vatin, Nikolay, and Olga Gamayunova. "Real Estate Abroad: How to Make the Right Choice." Applied Mechanics and Materials 670-671 (October 2014): 1612–15. http://dx.doi.org/10.4028/www.scientific.net/amm.670-671.1612.
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Last years more and more Russians are buying property abroad, not only in order to obtain from her rental income or resale, but also for a family holiday by the sea in a favorite of the country. The article describes the main criteria for the choosing of foreign real estate. Particular attention is paid to the specifics of buying property in countries such as Turkey, Egypt, Greece.
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Dement’eva, M., A. Zakharova, and E. Kirova. "EXPERIENCE OF TAXATION OF REAL ESTATE OF INDIVIDUALS IN FOREIGN COUNTRIES AND ITS APPLICATION IN RUSSIA." Vestnik Universiteta, no. 1 (March 15, 2019): 100–107. http://dx.doi.org/10.26425/1816-4277-2019-1-100-107.
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Approaches to the formation of the value of objects of taxation of real estate of individuals in foreign countries and the establishment of tax rates have been examined. An analysis of tax revenues on real estate of individuals in highly developed countries has been carried out. General trends in property taxation of individuals have been identified. Basic provisions, on which modern systems of real estate taxation of individuals are based, have been formulated. Problems of real property taxation in Russia have been identified. Ways of determining the tax base taking into account the world experience and Russian reality have been proposed. Proposals for the application of tax rates and the implementation of the principle of justice have been elaborated.
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Vylkova, E. S. "Improving the Property Taxation in the Russian Federation." Economics, taxes & law 12, no. 1 (March 12, 2019): 127–35. http://dx.doi.org/10.26794/1999-849x-2019-12-1-127-135.
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In their search for new ways of recharging budget revenues, foreign countries repeatedly implement tax reforms including the area of property taxation.The subject of the researchis the state of property taxation in the Russian Federation and abroad.The purposes of the researchwere to study the trends in property tax reforms in the world and the Russian Federation; systematize the OECD experience in reforming property taxation; compare the Russian innovations in the field of corporate property taxation with the trends existing in OECD countries; assess of the adequacy of corporate property tax reforms carried out in Russia in recent years, and propose property tax innovations with account for advanced foreign experience based on OECD data, foreign and domestic publications. The share of property taxes in the Russian GDP is lower compared to the OECD average although it is higher than in the countries with the lowest value of this indicator, which means that the above shares can be increased as shown by a comprehensive analysis of both taxation practices in foreign countries and the socio-economic situation in Russia.It is concludedthat Russian innovations in the field of property taxation generally conform to the world trends both in terms of tax rates and the tax base formation procedure. The paper outlines the most significant areas of the property tax reform comprising a clear legislative distinction between movable and immovable property, reasoned definition of the real estate cadastral value taking into account the developments in the foreign and domestic economic literature on this issue.
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Gholipour, Hassan Fereidouni, Usama Al-mulali, and Abdul Hakim Mohammed. "Foreign investments in real estate, economic growth and property prices: evidence from OECD countries." Journal of Economic Policy Reform 17, no. 1 (January 2, 2014): 33–45. http://dx.doi.org/10.1080/17487870.2013.828613.
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Lelyuhina, A. M., М. V. Litvinenko, and O. V. Miklashevskaya. "Comparative analysis of the real estate taxation basics in the Russian Federation and foreign countries." Geodesy and Cartography 941, no. 11 (December 20, 2018): 61–64. http://dx.doi.org/10.22389/0016-7126-2018-941-11-61-64.
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The current issues of reforming the current tax system in the Russian Federation in the context of the transition to determining the amount of real estate taxes based on the cadastral value of real estate objects are discussed. The decision on adopting elements of a tax system in practice should be scientifically and methodologically based. The rational construction of the tax system of Russia contributes to the study of foreign tax systems’ models. In the article, the systems for calculating real estate tax established in the foreign countries under consideration are highlighted. Everything is based on analyzing the practice of real estate valuation in the UK, France, Belgium, Latvia, Finland, USA and Chile. A comparison is made of the grounds for calculating the property tax, their distinctive features. The main approaches to determining the cadastral value taking place in the cadastral systems of foreign countries are summarized. The conducted studies provide grounds for identifying trends in real estate valuation, which are being introduced into modern Russian cadastral valuation practice.
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Klyushnichenko, V. N. "Analysis of the principles of reference inventory today." Geodesy and Cartography 924, no. 6 (July 20, 2017): 43–48. http://dx.doi.org/10.22389/0016-7126-2017-924-6-43-48.
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A comparative analysis of the principles of the cadastre in the most developed countries and in Russia. It is shown that some of the principles of cadastre, it is advisable to introduce into the Russian legislation. Such principles include the principle of Renzenberger, as well as the principles of Ruoff and Kuranda. The Russian inventory has more than twenty years, however, it cannot be considered complete, as registered in cadastre only 60 % of real estate. Full filling of the cadastre information on real estate is possible, if we abandon the application of the principle of reference. Unlike foreign domestic inventory the inventory contains errors that complicate the procedure of registration of immovable property. In addition, the domestic inventory is not the only source of information about the property that causes the ambiguity of the information about the same object. Important is also that the damage caused inaccurate inventory information bona fide buyer or seller of real property under current law, does not exceed one million rubles, regardless of the value of the lost object. Foreign inventory recognizes the property owner the main participant of the changes, however, the Russian legislation allows for the adjustment of the information object without the application of the property owner. See principles of the foreign inventory is useful for the maintenance of the national cadastre. This will simplify the process of state cadastral accounting of real estate, reduce the time of its formation and to increase the reliability of materials of the Unified state register of real estate.
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Viesturs, Jānis, Iveta Puķīte, Jānis Vanags, and Irakli Nikuradze. "Limiting the Program of Temporary Residence Permits for Foreigners Based on Real Property Investment in Latvia." Baltic Journal of Real Estate Economics and Construction Management 5, no. 1 (November 27, 2017): 248–58. http://dx.doi.org/10.1515/bjreecm-2017-0019.
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Abstract There exists sharp competition amongst nations regarding the increasing foreign investments; therefore, nations are willing to offer foreign investors and their families some type of political bonus, such as temporary residence permit, permanent residence permit, or even citizenship. The simplest way to entice investors is to offer them and their family members temporary residence permits in exchange for investments - simply by purchasing real property (via the so-called “Golden Visa” program). Such a program was launched in Latvia in 2010; however, significant limitations were placed on it in 2014. This research (1) compares the “Golden Visa” programs in different countries in the world, (2) determines the impact of the program on the real property market of Latvia, and (3) searches for the main reason why limitations were applied to the temporary residence permit program in 2014, which resulted in a significant decrease in the international investments in Latvia (this part of the paper is based on the results of the following research: Viesturs, J., Auziņš, A., & Štaube, T. (2017). Arguments Used for Restricting International Real Property Transactions: Case Study of Latvia).
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Semyakina, A. V. "Property Rights to Land Plots in the Russian Federation and Great Britain: Dogmatic Approach against Pragmatism." Actual Problems of Russian Law 16, no. 7 (July 30, 2021): 179–91. http://dx.doi.org/10.17803/1994-1471.2021.128.7.179-191.
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Comparison of the phenomenon of property rights in two unrelated legal systems is an interesting task from the point of view of methodology. A simplifying factor is that English law in its origins was strongly influenced by Roman law, but developed apart from continental legal systems. As a result, using the same terminology in the field of property rights in the Russian Federation and Great Britain, different views have been formed on the nature of property rights to land plots. The paper analyzes the legal structures of real law in both countries and achieves the goal of clarifying the content of controversial terms and classifications existing in the real law of the Russian Federation; taking into account foreign experience the author determines the prospects for the development of domestic concepts of real and absolute rights. The admissibility of comparing property rights to land plots is predetermined by the use of similar legal techniques in both countries, as well as terminology borrowed from Roman law. The paper substantiates the thesis on the admissibility of using the analytical concept of law of W. N. Hochfeld as a comparative legal method of research. Fundamental differences in both legal systems will be in the idea of the object of property rights to land plots, the place of property rights in the classification of rights, in the structure and content of the corresponding legal relationship. Taking into account the analysis of the legal regulation of property rights to land plots in the two countries, theoretical provisions substantiate the conclusion about the need to preserve the idea of the absolute nature of property rights in domestic law.
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Belikova, Ksenia Michailovna. "Theoretical and practical aspects of legal qualification of virtual property in Russia and abroad." Юридические исследования, no. 7 (July 2021): 1–28. http://dx.doi.org/10.25136/2409-7136.2021.7.35869.
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The subject of this research is the theoretical and practical aspects of legal qualification of virtual property – digital online objects (cryptocurrencies, game property, user accounts, etc.) in Russia and abroad. Virtual property is viewed through the prism of the concept of “asset” / “economic asset”, established in the national and foreign legislation and doctrine. Real right to game objects in online games are considered through the lens of John Locke’s labor theory of property (acquisition), M. Radin’s theory of personality, theories of utilitarianism (deterrence of negative behavior and economic efficiency), law enforcement practices and legislation (South Korea, China, etc.). Real right to online accounts (Google, Yahoo etc.) are examined in the context of allowability of transferring personal and business accounts from the perspective of property and conventional law. The relevance, theoretical and practical importance of this research is are substantiated by supplementing the tangible objects of proprietary right with digital, created in modern reality with the use of digital technologies (cryptocurrencies, tokens, etc.), which requires clarification of their legal regime in the context of the effective legislation of the Russian Federation and foreign countries, ideas for its amendment, and law enforcement practice. The author concludes that the legal doctrine of a number of countries, distinguishing tangible and intangible, virtual objects (game objects, user accounts) recognized the existence and legal status of virtual property (Hong Kong, European Union, South Korea, Russian Federation, Taiwan), qualifying it as the analogue of digital information and content; legally - movable (Taiwan) or other (Russian Federation) property; property (the European Court of Human Rights) or utilitarian (mandatory) digital (Russian Federation) rights; economically – virtual (financial, in form of future income), and material (in form of commercial ties, domain names, etc.) assets (the European Court of Human Rights, Russian Federation).
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Brzezicki, T., and P. Kornieiev. "Tax on real estate, other than land." Uzhhorod National University Herald. Series: Law, no. 65 (October 25, 2021): 210–14. http://dx.doi.org/10.24144/2307-3322.2021.65.38.
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The study examines the mechanism of real estate taxation. The current state of their functioning in Ukraine is analysed in detail. Problems of legal and regulatory nature are also investigated. The main features that characterize this tax, both in Ukrainian and Polish legislation, are also described. In addition the feasibility of reforming the tax base in the Ukrainian legislation is analyzed. Analyzed the experience of foreign countries, and held a parallel to the functioning of the tax in Poland, as an example, one of Europe’s economically developed countries. This article focuses on tax on immovable property. The introduction of real estate tax in Ukraine has followed a difficult path. The authors emphasize that development, and global development, is not possible without the socio-economic development of the country. In the authors’ view, development must begin in the cities, namely with the effective formation of local budgets. Because the financial resources of the cities have a direct influence on the solution of social and economic problems. The problem of deficiency of financial resources of cities, is a frequent problem on the territory of Ukraine. Therefore, we consider it necessary to pay attention to the European practice of countries that have a rational approach to the redistribution of income, with the help of certain tax rates, or by applying the benefits provided by the legislation. Statistical data shows that property tax has been introduced in about 130 coun-tries, thereby providing a significant part of budget revenues. The study is written using the descriptive method on the basis of administrative court jurisprudence and tax law literature.
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Gubanishcheva, M. A. "Research of Foreign Experience in Determining the Tax Base: Prospects for Cadastral Valuation in Russia." Vestnik NSUEM, no. 1 (April 2, 2020): 127–38. http://dx.doi.org/10.34020/2073-6495-2020-1-127-138.
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The article includes the review of the analysis of foreign experience in determining the tax base. Analysis of the world experience demonstrates a variety of taxation systems of real property also including differences in their basic elements. In spite of multiple differences there are some similar features common to the majority of countries. Cadastral value is used for the purposes of taxation in Russia.The work on the modernization of the institute of cadastral value is enormous. It can take many years, because the methodology for determining the cadastral value still under development in Russia.The article presents the possibility of using effective practices of other countries. The use of foreign effective practices is permissible in order to increase the reliability of the valuation results, as well as preventing possible problems.
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Торопчин, С. О. "METHOD OF LEGALIZATION (LAUNDERING) OF PROPERTY, OBTAINED BY CRIMINAL WAY." Juridical science 1, no. 4(106) (April 2, 2020): 222–31. http://dx.doi.org/10.32844/2222-5374-2020-106-4-1.27.
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The relevance of the article is that the processes taking place in society in recent decades in connection with the transition from a rigid centralized model of governance to market relations, have significantly changed the economic, social and legal systems. The rapid development of foreign economic relations, the foreign exchange market, the implementation of relevant norms of international law - all this contributes to the integration of Ukraine into the world economic space. At the same time, these processes have a number of negative consequences, such as: criminalization of society, commission of criminal offenses in the field of management, in particular, legalization (laundering) of property obtained by criminal means. The article establishes that such actions are characterized by a certain deception, as the proceeds of crime are given the appearance of legal origin, and are implemented taking into account the sphere of economic activity, the specific situation of money laundering, the nature of income. Money laundering is a complex and rather long process that includes many technological schemes. The method reflects a set of actions (operations) to prepare, commit and hide in their dynamics and relationships with environmental conditions. The main ways of committing such a crime are: financial transactions for the transfer of funds abroad ("offshore zones"); illegal conversion of funds using fictitious enterprises (stages of conversion - illegal income is placed in certain financial instruments; they are separated from sources of origin by using various schemes of financial transactions aimed at masking the traces of these incomes; give legitimacy to criminally obtained income); money laundering through financial transactions with securities (legalization is carried out on the stock market, through predicate criminal offenses, using securities, their issue, trade and resident countries, non-residents or in several countries); money laundering through real estate transactions (abuse on the real estate market); money laundering in the process of privatization of state property (obtaining the opportunity to exercise control over as large shares of statutory funds as possible, with minimal financial costs for their acquisition, using official position or exceeding power).
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Zull Kepili, Ema Izati, and Tajul Ariffin Masron. "Malaysia property sector." International Journal of Housing Markets and Analysis 9, no. 4 (October 3, 2016): 468–82. http://dx.doi.org/10.1108/ijhma-08-2015-0043.
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Purpose Because Malaysia decided to liberalize its property sector, investors have shown a considerable interest in the country’s property investment. Divided into five sub-sectors, Malaysia’s real estate is sought actively by foreign investors. However, to date, the sub-sectors performance analysis has never been researched for the purpose of investment diversification within the property sector. This paper aims to examine the performance of sub-sectors in the property market, namely, residential, commercial, industrial, agricultural and development land. This paper also assesses the portfolio diversification benefits within the sectors. Design/methodology/approach Quarterly data from 2002 or 2014 are used to analyze the performance of the Malaysia property market. The analysis is conducted in three phases, pre-liberalization, post-liberalization and overall period, because it considers the liberalization policy introduced in 2009. Statistically, the risk-adjusted return featuring Sharpe’s index is used to observe how these sub-sectors perform relative to each other. Correlation analysis is used to observe the existence of diversification benefits in terms of a Malaysia property context. Findings It is found that Malaysia’s real estate sub-sectors have different rankings during the pre- and post-liberalization periods. The difference is due to changes in their average return and the risk. During the post-liberalization period, risk for all sub-sectors has increased but has been well compensated by the return. The residential property sector maintains its ranking position as the best sub-sector for every risk investor’s encounter. Research limitations/implications Due to wide range of differences and non-uniformity of costs associated with housings, for example tax rates, rental stream, LTV and others, this research focuses on values and data supplied by NAPIC only. Originality/value Although performance and portfolio diversification benefits have been tested in many Asian countries, none has tried to assess the Malaysia property. This research enables the policy maker to be informed on whether the sub-sectors are performing in accordance to country’s requirement and which sub-sectors need to be improved further.
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DMYTRIV, Volodymyr. "ECONOMIC ESSENCE AND ROLE OF PROPERTY TAXES IN UKRAINE." WORLD OF FINANCE, no. 1(66) (2021): 201–9. http://dx.doi.org/10.35774/sf2021.01.201.
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Introduction. The development of local self-government is one of the important prerequisites for the formation of a democratic state. Effective activity of local self-government bodies is impossible without a sufficient amount of financial resources, which are formed at the expense of the local budget’s own tax revenues. The local taxes and fees are the basis of financial independence of local authorities in the most developed countries of the world, the main among which are considered property taxes. The formation and development of national tax systems takes longer in the most developed countries than in Ukraine, which in its turn, affects the quality of tax legislation and as a consequence is accompanied by a misunderstanding on the part of society’s tax innovations. The construction of the taxation system should be based on the citizens’ awareness of the fiscal importance of property taxes in the formation of the revenue side of the state and local budgets. The purpose of the article is to determine the features of the collection of property taxes in Ukraine, research their role in the formation of the revenue side of local budgets and to outline areas for improving property taxes in Ukraine using foreign experience. Results. The general features of the evolution of the property taxation system are considered. It is argued that a key element of the real estate taxation mechanism if the procedure for determining the tax base, which is mostly the valuation of the object. It is necessary to review property tax rates, conduct an inventory and ensure the full functioning of the system of mass registration of real estate, introduce a correction factor to take into account historical, territorial and other characteristics of real estate, increase tax literacy and tax culture of the population. Prospects. The attention will be paid to the differentiation of property tax rates, the feasibility of introducing preferential taxation, the advantages and disadvantages of property taxation and more in further research,.
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Osmanov, O. A. "On the concept and types of real estate property in the light of reforming of the civil legislation of the Russian Federation." Law Нerald of Dagestan State University 41, no. 1 (2022): 79–84. http://dx.doi.org/10.21779/2224-0241-2022-41-1-79-84.
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This article is devoted to the analysis of the category of "real estate" civic in the legislation of the Russian Federation and a number of European countries. The main methods for achieving results are historicallegal, formal-legal, systemic, comparative-legal, individual logical techniques, methods of interpreting regulatory documents. The article is of a scientific and practical nature and examines certain aspects of the legal regime of real estate. This category has historically passed a long and difficult path of formation from the provisions of Roman law to the modern legislation of the countries of continental Europe and the Anglo-American legal system. Real estate as an object of civil rights has special features, legal nature, and the history of its origin and development as a legal institution is also specific. The author made an attempt to investigate the history of formation, the concept and features of real estate as an object of civil law, the features of its legal regulation in certain foreign countries and in modern Russia. The specifics of fixing this institution in separate acts on amendments to the Civil Code of the Russian Federation are considered. The main conclusions were the characteristics of the signs of real estate, the content of the rights and obligations of the copyright holder, the peculiarities of the emergence and acquisition of rights to real estate, the formulation of the main shortcomings of its legal regulation in the current legislation and the merits of the changes that come into force on March 1, 2023.
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Stepanov, Pavel, and Maria Filatova. "Problems of Protecting Virtual Game Property by Means of Criminal Law." Russian Journal of Criminology 15, no. 6 (December 28, 2021): 744–55. http://dx.doi.org/10.17150/2500-4255.2021.15(6).744-755.
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The legal regulation of social relations in virtual reality is attracting an increasing attention of scholars. There are corresponding Russian and foreign publications concerning different branches of law: civil, tax, labor, international humanitarian, and criminology. Criminological research is based, among other things, on the analysis of sociocultural factors: how online gaming behavior influences the «cultural normalization» of similar behavior in the real world, the problems and boundaries of permitted violence. At the same time, the problem of infringements on virtual game property is becoming more urgent. The first reason for this is the fact that the possession of virtual property can have legal and economic consequences in the real world. The second reason is connected with the absence, in most jurisdictions, of the legal regulation of the emerging property rights (or other «rights in rem») to game property, which hinders prosecution for crimes against it, or makes it impossible in some countries where criminal law protection is linked to positive legislation. The authors believe that it is best to view these crimes as offences against property, and not cybercrimes in the narrow sense of the word. It is obvious that the problems of defining the crime of theft in the virtual space are connected with the understanding of the object and other features of theft, and the analysis thus mainly focuses on comparing the legal nature of virtual game property with how it corresponds to the features of theft in the current legislation. Key concepts of the legal nature of virtual game property are formulated, which are then analyzed from the standpoint of their applicability in criminal law. According to the authors, there are two main ways to solve the problem of virtual game property protection: either, following the approaches found in foreign practice, the definition of theft should be broadened, or the legal protection regime sui generis should be created to deal with the protection of all cyber aspects of property relations.
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Fonkoua, Jean Emmanuel. "The Money Neutrality Proposition: Is Boosting Money Supply A Solution To US Economic Problems?" Journal of Applied Business Research (JABR) 29, no. 2 (February 11, 2013): 361. http://dx.doi.org/10.19030/jabr.v29i2.7644.
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This paper unfastens the new classical structural model and broadens the reduced form output equation to investigate the money neutrality proposition in the United States. The hypothesis that any predictable monetary policy has no influence on output is extended by the inclusion of foreign exchange rationing to the supply side of the economy as cointegrated with money supply. The final prediction error determines the proper lag length that is used by the dynamic analysis to examine the causality relationship between imports, foreign price, foreign income, and output. The vector autoregressive is used to determine the exogeneity property of foreign exchange and output; it also helps extract the anticipated and unanticipated components of foreign exchange and money series. Empirical evidence provides considerable support for short run cyclical movements in the output of highly industrialized countries in affecting the real output in the United States. Indeed, any policy response in raising output should take into account the well-being of other developed countries. Predicted or not, an increase in the level of growth of other advanced countries does not leads to offsetting expectation and results in raising the economic growth. Empirical test presents no evidence that boosting the money supply leads to an increase in the level of growth. The result also refutes the view that the United States can quickly recover through a monetary policy aimed at depreciating the dollar and stands against the idea that devaluation tends to expand domestic output in industrialized countries. Incompatible with the economic logic is the lack of support of the apparent reality of output determination in industrialized countries open economy models.
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Berdugina, Anastasiya A., and Aleksandr V. Chernov. "DEVELOPMENT OF THE STRUCTURE AND CONTENT OF 3D REAL ESTATE OBJECT MODELS IN CADASTRE." Interexpo GEO-Siberia 3, no. 2 (July 8, 2020): 87–98. http://dx.doi.org/10.33764/2618-981x-2020-3-2-87-98.
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The presentation of the property in the form of a three-dimensional model has become a subject of increased interest in cadastre management over the past decades. An analysis of this area in Russia showed a virtual lack of dynamics in the development of 3D modeling. One of the reasons is the lack of structure and content of a 3D model. The article presents a formalized description of the elements of a 3D model, on the basis of which a set of criteria and their indicators was proposed and a comparative analysis of the content of 3D models of advanced foreign countries was carried out. As a result of the analysis, a formalized description of the structure and content of 3D models in accordance with the national characteristics of the countries under consideration is proposed. Based on the data obtained, the Russian model of the 3D cadastre is formalized, and ways of its modernization are proposed in accordance with the best technological solutions of the analyzed cadastral systems.
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Radygina, S. V., and I. A. Semyonova. "THE THEORY AND PRACTICE OF CREATION OF INDUSTRIAL PARKS IN RUSSIA AND FOREIGN COUNTRIES." Bulletin of Udmurt University. Series Economics and Law 30, no. 1 (March 2, 2020): 58–66. http://dx.doi.org/10.35634/2412-9593-2020-30-1-58-66.
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An industrial park is a modern and effective instrument of support of small and medium business in the industrial sector of economy. An industrial park is a complex of real estate units managed by a management company consisting of a land plot (plots) with production, office, warehouse and other buildings, constructions and facilities provided with the engineering and transport infrastructure necessary for creation of new industrial production and also having a necessary legal regime for implementation of production activity. A description of a legal scheme of interaction between a management company of an industrial park and its residents is given, a list of services provided by a management company is given. The article provides an overview of the history of the origin and development of the use of industrial parks as a tool to support small and medium-sized businesses in Russia and abroad. The organizational scheme of an industrial park, types and directions of activity are considered. An analysis of the dynamics and structure of industrial parks in the Russian Federation by types of property, by stages of activity of industrial parks is carried out. Models of industrial parks’ activity existing in world practice are described. Industrial parks in the modern world are an important factor in the development of the territories and contribute to the economic and technological development of regions.
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Pugachev, A. A. "TRANSFORMATION OF PROPERTY TAXATION AS TOOL TO REDUCE THE MONETARY INEQUALITY OF CITIREUS." Economics Profession Business, no. 2 (June 17, 2022): 78–85. http://dx.doi.org/10.14258/epb202225.
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Monetary inequality is one of the most pressing socio-economic problems for Russia. Taxes have so far failed to reduce inequality. Not only income taxation of citizens, but also property taxation has the potential to smooth it out.
In Russia, the share of property taxes of individuals in the tax revenues of the budget is significantly lower than in many developed countries. It is shown that property taxes of individuals have a serious potential both in increasing the budget security of regions and municipalities, and in smoothing inequality.
In Russia, the tools for smoothing inequality among property taxes include benefits for certain categories of citizens; transport tax on expensive cars («luxury tax»); reduction of the tax base for the property tax of individuals by the cadastral value of 20 sq. m. for apartments and 50 sq. m. for residential buildings. Taking into account foreign experience, it is proved that the introduction of inheritance and gift taxes, as well as an increase in property tax rates for owners of many real estate objects, can be significant within the framework of smoothing monetary inequality.
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Akhtam, Yakubov. "DOCTRINAL APPROACHES AND INTERNATIONAL EXPERIENCE IN UNDERSTANDING THE DIGITAL ASSET." American Journal of Political Science Law and Criminology 04, no. 10 (October 1, 2022): 34–42. http://dx.doi.org/10.37547/tajpslc/volume04issue10-05.
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The owner of digital assets considers that he has the characteristics of real property based on the fact that he can own them in the virtual space, use them and then dispose of them with material benefits. In the current legislation of the Republic of Uzbekistan, some gaps need to be eliminated in the legal regulation of digital assets. In particular, it is necessary to clarify and expand the term “digital assets” in the legislation of the Republic of Uzbekistan, to introduce a new classification that divides them into the virtual property (property rights) and virtual personal non-property benefits and rights related to property rights, and to make appropriate changes to their legal regulation. The fact that the concept of “digital assets” or “economic assets” has been expressed in several regulatory documents of foreign countries is considered a good foreign experience for us. There is no legal definition of the term “virtual property”. In addition, the concepts of “digital rights (digital asset)”, “digital object”, “virtual property”, and “virtual game property” should be distinguished from each other. The use of civil law to regulate digital assets remains fragmented, even taking into account future reforms. Shortly, even taking into account the rapid development and integration of blockchain technology, the practice of creating, implementing, and using digital financial assets based on it does not take into account all the functions that digital financial assets can perform. In this article, the author analyzes national and international legal doctrine and experience to determine the legal status of a digital asset in the legislation of Uzbekistan and offers suggestions for improving the national legislation.
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Hacıevliyagil, Nuri, Krzysztof Drachal, and Ibrahim Halil Eksi. "Predicting House Prices Using DMA Method: Evidence from Turkey." Economies 10, no. 3 (March 10, 2022): 64. http://dx.doi.org/10.3390/economies10030064.
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The aim of this study is to analyze the dynamics of the housing market in Turkey’s economy and to examine the impact of variables related to housing prices. Preferred by many international housing investors, Turkey hosts profitable real estate investments as one of the developing countries with a shining housing market. This study applies the dynamic model averaging (DMA) methodology to predict monthly house price growth. With the increasing use of information technologies, Google online searches are incorporated into the study. For this purpose, twelve independent variables, with the Residential Property Price Index as the dependent variable, were used in the period January 2010–December 2019. According to the analysis results, it was observed that some variables, such as bond yields, the level of mortgages, foreign direct investments, unemployment, industrial production, exchange rates, and Google Trends index, are determinants of the Residential Property Price Index.
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Pijanowska, Justyna, and Michał Brożyna. "Wybrane aspekty prawne obrotu zasobami ziemi rolniczej w Polsce po zmianie prawa w 2016 roku." Zeszyty Naukowe SGGW - Ekonomika i Organizacja Gospodarki Żywnościowej, no. 123 (October 28, 2018): 43–53. http://dx.doi.org/10.22630/eiogz.2018.123.20.
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On 30 April 2016 restrictions on the purchase of agricultural land by entities from European Union countries were to end. Therefore, the Act on shaping the agricultural system was changed. During the legislative work, it was pointed out that the legislator, wanting to protect native agricultural market participants (Polish individual farmers and agricultural entrepreneurs) against foreign entities interested in accessing Polish agricultural real estate, (we are talking here only about citizens and entrepreneurs from other EU Member States) de facto introduced regulations that limited access to this market also to Polish citizens or made it difficult. The aim of the study is to indicate these new regulations, the introduction of which caused or may cause difficulties in the practice of application of law consisting in the inability of the property to acquire agricultural real estate by interested entities that are Polish citizens
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Buletsa, S. "Virtual property in the metaverse as an object of civil rights." Uzhhorod National University Herald. Series: Law 1, no. 72 (November 16, 2022): 126–33. http://dx.doi.org/10.24144/2307-3322.2022.72.21.
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The scientific article substantiates the need to include virtual property as an incorporeal object in the list of objects of civil rights. A comprehensive analysis of the development of the metauniverse, markets for the purchase of virtual property, the peculiarities of the legal regulation of legal issues in the Metauniverse in foreign countries, and the prospects for improving national legal regulation in this area was made. The author of the article analyzed the advantages of virtual property compared to real property and proposed to use smart contracts that use blockchain technology to settle legal issues in the Metaverse. The author of the article notes that currently there are no clear rules at the legislative level regarding the legal attributes and mechanism of virtual property transactions. Especially with the emergence of a new type of business such as Metaverse, the validation and use of relevant virtual properties will raise more complex legal issues that require further study. For Metaverse operators, in the process of creating virtual business scenarios, they should focus on providing a complete protection system for users' virtual property.
In addition, there is a problem with the value of property, because in the metauniverse it is not constant. It is mainly determined by the consensus of the group or both parties to the transaction. This method of determining value is similar to determining the value of collectibles and works of art in today's real society. However, it would be foolish to treat everything in the Metaverse as collectibles and works of art. In terms of impacting the real-world economic order, it may also do more harm than good. Thus, even if the problem of ownership of the metauniverse and the medium of exchange can be largely resolved, the problem of realizing the ownership of the metauniverse will still arise. The author analyzed a number of problematic aspects on the way to the development of quality legislation for the regulation of virtual property in Ukraine and provided some recommendations for their further consideration when developing legislation in this area.
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Buevich, Anzhelika P., and Svetlana A. Varvus. "The increased use of intellectual property in the context of expanded use of smart technologies." Vestnik of North-Ossetian State University, no. 2(2020) (June 25, 2020): 102–9. http://dx.doi.org/10.29025/1994-7720-2020-2-102-109.
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The authors of the article turn to one of the essential problems of the modern Russia - the problem of using intellectual property in terms of smart technologies development. The very concept of “smart technologies” is analyzed, which is especially relevant in the context of the lack of a theoretically and academically designed scientific discourse in this area. Since the key source of smart technologies development is intellectual property, the role of which changes, the authors focus on the problems of the intellectual property institution in Russia and their origins. Based on the analysis of economic literature and statistical material, the authors characterize the current situation in Russia, as well as in some foreign countries. The goal set by authors is to find out how to use intensively the intellectual property in expanded reproduction in the context of smart technologies implementation. The authors also note that the problems facing the institution of intellectual property today can only be solved by intensifying the use of intellectual property. This can be achieved if intellectual property is considered as a tool for transforming a product invented into a real economic turnover. At the same time, the field of intellectual property should be as transparent as possible, focused on the needs of the society in general, and the market in particular, and also comply with the government’s policy of digitalization. Only in this case intellectual property can become an instrument of development.
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Gordienko, V., M. Onischenko, and I. Malionkina. "FOREIGN DECENTRALIZATION EXPERIENCE OF PUBLIC AUTHORITIES AND THE POSSIBILITY OF ITS TRANSFORMATION IN UKRAINE." Vìsnik Sumsʹkogo deržavnogo unìversitetu, no. 3 (2019): 83–89. http://dx.doi.org/10.21272/1817-9215.2019.3-11.
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The article is devoted to urgent issues of reforming local self-government. It has been proved that decentralization of public authority is a mechanism that ensures sustainable development of the regions of the state on the basis of legislatively regulated processes of transfer of functions, authority and budgets of central executive bodies to local self-government bodies. The peculiarities in process of decentralization of power and reform of local self-government in Ukraine have been analyzed. As a result, we have some positive tendencies of the implementation this reform and some problems as well. The main ones are: the inconsistency of local policy about socio-economic development with real interests of territorial communities; lack of joint and several liability for development of the territory; inconsistency of sectoral decentralization with the real interests of territorial communities; regulation in rights of ownership of the territorial community for property, etc. The classical models of organization of local self-government and decentralization of public authority in foreign countries have been reviewed. They were: Anglo-Saxon, Continental and mixed ones. The dynamics of decentralization of public authority in Poland were examined and it was proved that this reform contributed to the formation of private property in state, development of democracy, creation of effective political institutions, increase of resource base of local self-government bodies, the protection of individual rights, development of civil and political freedom. The basic conditions for implementation the reform of decentralization of public authority have been defined, such as: consolidation of political forces in implementation the reform; permanent in creating socio-economic programs of development the administrative and territorial units; public support and control over reform. Keywords: decentralization, local self-government bodies, a reform, foreign experience of decentralization of public authority, administrative-territorial division.
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YAMNENKO, Tetiana. "Aspects of legal regulation of the cryptuality of Ukraine and EU countries." Economics. Finances. Law, no. 3(1) (March 31, 2020): 37–41. http://dx.doi.org/10.37634/efp.2020.3(1).7.
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The purpose of the paper is to determine the financial and legal nature of cryptocurrency, its characteristic features, the history of cryptocurrency on the basis of domestic and foreign scientific intelligence, current legislation of Ukraine and foreign experience. Approaches to determining the nature of cryptocurrencies are available in the world and national practice. Research methods: documentary analysis and synthesis, comparative analysis, objective truth, cognitive-analytical, etc. The author analyzes the situation of determining the legal status of cryptocurrency in foreign countries and Ukraine, and substantiates the peculiarities of the application in the world practice of three basic approaches to regulation of the cryptocurrency market. The article presents a number of practical problems that determine the need to intensify the activity of the state on the legal regulation of cryptocurrency in Ukraine. Discussion: the analysis of the developments concerning the cryptocurrency market development was carried out, which made it possible to distinguish the relevant tendencies of its development in Ukraine for the future. The necessary determinants of implementation the efficient regulation approaches to the cryptocurrencies’ transactions and the ways of legislative base formation in Ukraine are shown. To our mind, the main steps for Ukrainian financial market regulators nowadays could be recognition of cryptocurrencies as digital currencies, introduction of favorable regime of cryptocurrencies market regulation, and development of fluent approaches to the taxation of incomes generated by transactions with cryptocurrencies. The author concludes that, in the long term, blockchain technology in Ukraine can be actively used not only for IT technologies and cybersecurity, but also for data storage in the real estate trade and property registration, cadastral accounting, public administration, banking, education, medicine, trade, insurance, etc. Therefore, the author calls the issue of regulatory regulation of cryptocurrency in the territory of our country relevant and necessary, because cryptocurrency is becoming more and more popular in international practice, and its development is almost impossible and economically impractical.
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Shchennikova, L. V., and A. Yu Migacheva. "Usufruct Law: Origins, Comparative Legal Analysis and Prospects of the Development in Russia." Вестник Пермского университета. Юридические науки, no. 52 (2021): 321–45. http://dx.doi.org/10.17072/1995-4190-2021-52-321-345.
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Introduction: the reform of modern civil legislation cannot be completed without the adoption of a package of amendments to the section of the Civil Code of the Russian Federation devoted to real rights. Moreover, the lack of a developed and consistent concept of real rights has a negative impact on the development of all related areas. Real rights are designed to solve strategic problems of state development, among which social issues are currently coming to the fore. In this regard, it is important to study individual real rights proposed for introduction into civil legislation in terms of their potential to promote not only the economic but also the social development of the country. This paper focuses on usufruct in the aspect of its historical identity, powerful functional message, and internationality. Purpose: the research aims to clarify the significance of real law[1] regulation in solving nationally significant problems. Based on the achievements of foreign doctrine and legislation, we attempt to show the prospects of the introduction of usufruct in the Russian system of real rights. Methods: general (philosophical), general scientific, special scientific (including special legal) methods of cognition: dialectical, logical, historical, sociological, comparative-legal and formal-legal. Results: we have studied civil legislation of thirty countries of the world. The study has shown that the introduction of usufruct can have a positive social and economic effect, but only provided that the legislator does not deviate from the historically established concept of usufruct embodied in foreign law. Conclusions:the Draft of Section II of the Civil Code of the Russian Federation ‘Real Rights’ needs revision, with the initial social function of usufruct taken into consideration. It is necessary to work out a system of grounds for the emergence and termination of usufructuary rights, to introduce a mandatory notarial form of a contract for the establishment of usufruct, to provide for the possibility of establishing usufruct by virtue of law in relation to socially significant objects and on the basis of a court decision, to enshrine non-use of the right among the grounds for termination; to allow the establishment of usufruct in relation to citizens and legal entities, and not only non-profit organizations; to allow multiple usufructuaries; to describe in detail the rights and obligations of the owner and the usufructuary, including the duties of treating the property with care, and to indicate the possible limits of the disposal of the property by the usufructuary, including via transactions; to work out the rules for the exercise of the right of usufruct in relation to certain categories of objects, for example: property of minors, inheritance, agricultural land, forests, minerals, etc.
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Liubchych, Anna, Olena Savchuk, and Tetyana Berkutova. "Problems of Legal Competency of Innovative Infrastructure Subject within the Format of Assistance to Entrepreneurship in Forestry Legal Relations: Expediency of European Union Experience Implementation." European Journal of Sustainable Development 8, no. 2 (June 1, 2019): 69. http://dx.doi.org/10.14207/ejsd.2019.v8n2p69.
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At present there is observed a change in world economy and development of evolving market relations in society alongside the transition of economy to innovative mode of development. Innovation infrastructure subjects act as obligatory participants of innovative relationships. According to the Law of Ukraine “On Investment Activity”, art.5, the subjects of innovative activities are physical and (or) juridical persons of Ukraine, physical and (or) juridical persons of foreign states, persons without citizenship, associations of the mentioned persons who conduct innovative activities in Ukraine and (or) involve property and intellectual values, invest their own or borrowed finances for realizing innovative projects in Ukraine[1]. Entrepreneurship is considered a leading component in the processes of stable development of forest resources under conditions of market liberalization of utilizing natural resources and forest in the EU. Attracting investments to this sphere is to be based on recognition of all kinds of forestry operations as business activities with corresponding remuneration of these activities’ results. Besides, improvement of financial mechanism is an integral condition of ecologically balanced use of forestry, because at present it acts as an impeding factor of efficient development of forestry into the EU countries. Investment provision improvement is possible under favorable credit and financial preconditions for financing the processes of restoring forest resources potential. It is possible to improve investment attractiveness of forestry business, especially for foreign investors, on the premise of real implementation of elements of modern ecological management into business practices. Keywords: EU countries, foreign experience, entrepreneurship, forests, forestry legal relations, innovations, innovative activities, innovative infrastructure, subjects.[1] Law of Ukraine “On investment activities”. The Verkhovna Rada Bulletin, 2002, no 36, p. 266.
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Chubais, A. B. "Russian electric power industry reform: 10 years later." Voprosy Ekonomiki, no. 8 (August 28, 2018): 39–56. http://dx.doi.org/10.32609/0042-8736-2018-8-39-56.
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The article presents the main results of the reform of the Russian electric power industry — the reorganization of RAO UES of Russia. Over the past 10 years since the reform, it has become clear that its main goals have been achieved. The monopoly branch, controlled by the state, has turned into a market one based on competition and private property. The necessary structural changes were made in the industry; a system of markets was created; large-scale investments were launched. All this led to a sharp increase in capacity inputs in Russia’s electric power industry. As a result of the reform, the price of electricity for the population, taking into account the PPP, that is, the real standard of living in Russia, and for the majority of industrial consumers is lower than in the leading foreign countries. It has become possible to improve the reliability of the power system and preserve its technological integrity. Proposals for further improvement of the Russian electric power industry are formulated.
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Duca, John V. "Making sense of increased synchronization in global house prices." Journal of European Real Estate Research 13, no. 1 (April 13, 2020): 5–16. http://dx.doi.org/10.1108/jerer-11-2019-0044.
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Purpose The purpose of this paper is to provide perspective on whether and why global metro house prices have become more synchronized, and perspective on the limited implications of this for investing in international real estate. Design/methodology/approach This paper reviews main findings from the literature on house price determination, reviews the emerging literature on global synchronization, and provides graphs to illustrate main points and trends. Findings House prices have become somewhat more synchronized likely reflecting greater correlation in long-term interest rates and macroeconomic cycles related to trends in globalization and international portfolio diversification. Nevertheless, this trend has not been continuous, reflecting that house prices depend on other fundamentals, which are not uniform across areas. Theory and evidence indicate that the more common are fundamentals, the more synchronized are house price cycles and the more substitution effects may matter. Also, real estate markets that are open to immigration and foreign investment have become more sensitive to shifts in the international demand for property by migrants or investors. Research limitations/implications Changes in international house price synchronization stem from variation in two categories of key drivers of house prices. The first are traditional supply and demand fundamentals. The second include international capital flows and immigration. Both sets of factors are sensitive to the economic environment and public policy. Increased synchronization of business cycles, the Euro currency union, and more common monetary policy strategies and tactics have fostered greater correlation of real interest rates across countries, which tend to increase house price synchronization. These effects can be amplified by the tendency for property owners to use extrapolative expectations of future house prices. Practical implications Shifts in prospective returns and the synchronization of international property returns not only on arbitrage of general property price differentials but also on underlying factors driving those differentials. Investors need to be mindful of the risks that metro prices sometimes reflect bubble-builder dynamics that can give rise to over-shooting of house prices. Observing simple correlations and changes in those correlations does not do away with the need for careful analysis of property investment, and if anything, warrant analysis of both how and why one may observe changes in the extent to which international house prices is synchronized. Social implications Despite the rise of globalization and of new technologies, the author has seen substantial divergences in house prices emerge across gateway cities and metros in less vibrant areas within countries. These reflect not only the impact of stronger income and population in more tech, educated and global oriented cities but also changes in the demand for amenities toward more culturally appealing cities, often – but not exclusively in – warmer or coastal areas where the supply elasticity of housing is often limited. Further complicating investment decisions are potential shifts in housing or immigration policy that can notably affect the demand for housing. Originality/value The paper provides practical perspective on why different groups of international cities have seen their house prices become more sychronized. Nevertheless, increased synchronization has occurred within an elite set of major cities, but in an environment house prices have diverged across gateway cities and metros in less vibrant areas within countries. The paper helps investors make sense of some recent patterns and recent prospects for investing in international real estate.
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Baldwin, Robert E. "What's at Stake for the LDCs, Now that the Uruguay Round Talks have been Suspended? (The Distinguishedl Lecture)." Pakistan Development Review 30, no. 4I (December 1, 1991): 579–99. http://dx.doi.org/10.30541/v30i4ipp.579-599.
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Until negotiations collapsed in early December, the Uruguay Round gave promise of being the most significant multilateral trade negotiation since 1947, when the General Agreement on Tariffs and Trade (GA TI) was implemented and tariffs levels of the industrial countries were sharply cut. There are at least three reasons for this conclusion. First, by agreeing at the outset to bring both agriculture and textiles under GATT discipline, the participants created the opportunity for both rich and poor agricultural exporting nations and relatively low-wage, newly industrializing LDCs to benefit significantly from GATT-sponsored trade negotiations. Prior to the Uruguay Round, the benefits to these countries of such negotiations had been limited, since these two sectors were excluded from any significant liberalization. Second, by agreeing to formulate new rules relating to trade in services, trade-related aspects of· intellectual property rights, and trade-related investment issues, members took an important step in modernizing the GATT. As economic globalization has accelerated, there is a growing realization that arms-length merchandise transactions, the traditional concern of the GATT, are only one aspect of the real-side economic relations of current concern to national policy-makers and the economic interests they represent Now international commercial activities also involve merchandise trade among multinational firms and their foreign affiliates, international trade in services among independent agents as well as among affiliated enterprises, foreign direct investment activities, production nf goods and services in foreign affiliates for sale either abroad or at home, international flows of technology, and temporary movements of labour across borders. Although the so-called new issues in the Uruguay Round do not cover all of these matters, they go a considerable way in making the GATT more relevant for dealing with the problems of increasing internationalization.
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VLADYMYRSKA, N. "F�ATURES OF INTERNATIONAL INVESTMENT IN THE ECONOMY OF UKRAINE." Economic innovations 21, no. 3(72) (September 20, 2019): 26–36. http://dx.doi.org/10.31520/ei.2019.21.3(72).26-36.
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Topicality. In the conditions of the economic crisis, in which the economy of Ukraine has been in recent years, the search for reasons that do not allow developing the economy properly and the intensification of areas for attracting investments, including foreign ones, is one of the priority issues. The article aims to explore the level of the investment climate in Ukraine, as well as to analyze the level of attracting foreign investment in the economy of Ukraine. Aim and tasks. Investment attractiveness is largely shaped by the investment climate; therefore, we analyze the investment climate as a combination of legal, financial, political, and socio-cultural factors that predetermine the expediency of investing in the country. Estimated index of investment attractiveness of the country for 2009-2018 and the place of Ukraine in the rating of investment attractiveness of the countries of the world. The article analyzes the volume of foreign direct investment in Ukraine, the structure of investment in the sectoral context and by investor countries of foreign direct investment over the ten-year period from 2010 to 2019. Research results. Based on the study, it was found that the most attractive for foreign investors in the industry, during the analyzed period, remain the industry, especially processing, financial and insurance activities, wholesale and retail trade, real estate operations, scientific and technical activities, information and telecommunications. It is determined that the main investor countries that invest more than 80% of foreign direct investment are twelve of the one hundred and thirty investment countries. The top five investor countries are Cyprus, the Netherlands, Germany, the United Kingdom and the Russian Federation, these countries form more than 60% of all international investments in the economy of Ukraine. The study revealed that almost a third of the international investment in the Ukrainian economy is Ukrainian capital, previously withdrawn from the country in offshore jurisdictions - round - tripping. These countries, apart from Cyprus, include Switzerland and the British Islands Verginsky. Conclusion. The necessity of further formation of modern approaches to the creation of a favorable investment environment in the Ukrainian economy, based on the experience of countries such as Estonia in the taxation of withdrawn capital and world experience, is substantiated. Ukraine should also continue to cooperate with international institutions such as the OECD and develop areas of cooperation with investors under the MLI Convention, which will help reduce the movement of Ukrainian capital to low-tax countries and, accordingly, will affect the increase in investment in the Ukrainian economy.
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Cheban, O. "On the socially fair system of calculation of fine as a criminal penalty." Uzhhorod National University Herald. Series: Law, no. 69 (April 15, 2022): 373–78. http://dx.doi.org/10.24144/2307-3322.2021.69.63.
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The article analyzes the issue of socially fair system of calculating fines as a criminal penalty, and substantiates the proposal on the feasibility of revising the monetary equivalent in which the fine is calculated, as in Ukraine there is a real need for critical analysis of the latter/
The author proved that the current monetary equivalent, which calculates the fine in the sanctions of the articles of the Special Part of the Criminal Code of Ukraine, does not meet modern society requirements, introduces a significant imbalance in determining the amount of damage and liability for a criminal offense and does not take into account property (financial and economic) the condition of the perpetrator. It is proposed to take as a basis for a socially just system of calculating the fine the average monthly income of the perpetrator. The average monthly income of the perpetrator should include the amount of wages, pensions or scholarships, cash income from business or other legal activities, income in the form of interest on bank deposits, income from securities, land, real estate and other movable property. Therefore, the amount of the fine for the committed criminal offense will depend on the total income of the offender, will be real and justified given the economic (property) condition of the offender. And, most importantly, given the different wealth and income of individuals in Ukraine, the fine will really correspond to the criminal law content of the principle of justice.
It is determined that the fine applied to the guilty person must be both tangible on the one hand, and feasible and fair on the other. The fine should have a preventive value in its general and special aspects, rather than repressive and punitive effects. Therefore, to determine its preventive role, it is advisable to establish at the regulatory level an adequate equivalent for its calculation and an amount commensurate with the financial situation of the perpetrator and the criminal offense committed by him. This fair equivalent should be the average monthly income of the perpetrator, the latter is widely used in progressive foreign countries to calculate the fine as a criminal punishment.
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Islam, Md Monirul, Mohammad Tareque, Abu N. M. Wahid, Md Mahmudul Alam, and Kazi Sohag. "Do the Inward and Outward Foreign Direct Investments Spur Domestic Investment in Bangladesh? A Counterfactual Analysis." Journal of Risk and Financial Management 15, no. 12 (December 13, 2022): 603. http://dx.doi.org/10.3390/jrfm15120603.
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The net contribution of the decomposed measures of foreign direct investment (FDIs), e.g., the inward and outward flows of FDIs, to domestic investment is still inconclusive in the case of underdeveloped and developing countries. The current literature bears testimony to this fact. Hence, this research examines the impact of inward and outward foreign direct investments (FDIs) on the domestic investment in Bangladesh. This study considers annual time series data from 1976 to 2019 and estimates this data property under the augmented ARDL approach to cointegration. In addition, this research employs the dynamic ARDL simulation technique in order to forecast the counterfactual shock of the regressors and their effects on the dependent variable. The results from the augmented ARDL method suggest that the inward FDI has a positive impact on domestic investment, while the outward FDI is inconsequential in both the long run and the short run. Besides, our estimated findings also show the economic growth’s long-run and short-run favorable effects on domestic investment. At the same time, there is no significant impact of real interest rates and institutional quality on domestic investment in the long run or the short run in Bangladesh. In addition, the counterfactual shocks (10% positive and negative) to inward FDI positively impact domestic investment, indicating the crowding-in effect of the inward FDI on the domestic investment in Bangladesh. As the inward FDI flow is a significant determinant for sustained domestic investment in Bangladesh, the policy strategy must fuel the local firms by utilizing cross-border investment.
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Permyakov, Maxim. "On the Form of Organizing the Institution of Condominium Ownership in Russia." Legal Concept, no. 3 (October 2019): 107–15. http://dx.doi.org/10.15688/lc.jvolsu.2019.3.16.
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Introduction: despite the fact that Russia is a country in which the majority of the population lives in apartment buildings, the institution of condominium ownership is one of the least developed, both in doctrinal and practical terms, in connection with which the theoretical and practical difficulties arise in the domestic legal order. The solution of such problems is impossible without the search for the root cause, which is the lack of choice of the form of organization of the legal institution, so that the legal regulation cannot be harmonious. Purpose: based on the study of the formation, evolution and unification of the institution of law in foreign countries, to address the problems of the domestic institution of condominium ownership. Methods: the methodological framework for this study is a set of methods of scientific knowledge, among which the main ones are the methods of specific historical, historical and comparative, social and legal, as well as the methods of analysis and synthesis. Results: the prerequisites for the emergence of condominium ownership in classical civil law were: the limitation of land as a natural resource, as well as capital for individual construction. The institution of condominium ownership is approved in the countries of continental law in two forms: “real” and “unreal”. In Russia, due to the lack of a long time of progressive development of property law, this institution was formed without taking into account its classical prerequisites, within the framework of privatization processes, which led to the emergence of the problems which are atypical for the European law and order. Conclusions: the domestic legislation tends to the organization of the institution of condominium ownership in the “real” form; however, the modern interpretation of this form entails many legal problems, which clearly indicates the need for its reform.
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Shelburne, Robert C., and Jose Palacin. "Is There an East European Housing Bubble?" Global Economy Journal 6, no. 3 (September 20, 2006): 1850094. http://dx.doi.org/10.2202/1524-5861.1209.
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This study examines residential house price trends in the East European economies. The data are described and evaluated in terms of their quality and reliability; both official data from national statistical offices and that compiled by real estate companies are used. Current prices are evaluated in terms of the economic fundamentals in the region including GDP growth rates, interest rates, rental prices, alternative asset prices, and the availability of mortgages. The role of foreign currency mortgages is given special treatment given their importance in a number of countries and the vulnerabilities they introduce. For some of the markets a more detailed description of price trends by region or type of property is provided. Comparisons with western markets are made where appropriate. Generally it is concluded that price increases have been quite significant but any over appreciation is difficult to evaluate given the very positive changes in the economic fundamentals. In addition to price trends, the implications of the changing institutional structure of these mortgage markets are explained along with the implications of the housing market developments for consumer spending, fiscal and monetary policy. The possibility of a housing bubble and bust is examined along with its implications for the economy; policy options to minimize this likelihood and its consequences are also explored with due consideration of the limitations on macroeconomic policy options given the constraints imposed by euro accession in a number of the countries.
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Rosasco, Paolo, Leopoldo Sdino, and Benedetta Sdino. "Immigration in Genoa: real estate demand survey in the historic centre [Immigrazione a Genova: un’indagine conoscitiva sulla domanda immobiliare nel centro storico]." Valori e Valutazioni 28 (July 2021): 67–80. http://dx.doi.org/10.48264/vvsiev-20212807.
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Migratory flows which characterized European cities over the last decade have generated profound changes in the social and economic tissue causing a housing demand with its own characteristics. In Italy, such phenomenon is particularly evident, not only in terms of property demand by foreigner residents, but also as to the turnover produced in terms of volume. Immigration in Genoa manifested itself starting from the second post-war period through a considerable flow of people coming from South of Italy regions looking for an occupation in many state industries and companies in the city or the port. The phenomenon ceased in the ‘70s with the beginning of the deindustrialization and it has been substituted by foreign immigration coming from North Africa and Central America poorest countries. New residents settle in the urban units of Molo, Maddalena and Prè (Historic Centre) abandoned by traditional inhabitants and where the lower prices level makes the buildings more accessible to this specific demand, often characterized by reduced economic capacities. I flussi migratori che caratterizzano le città europee in questi ultimi decenni hanno generato profondi cambiamenti nel tessuto sociale ed economico causando una domanda abitativa con propri caratteri. In Italia, il fenomeno è particolarmente evidente, sia in termini di domanda di immobili da parte di residenti stranieri sia in termini di volumi di affari prodotti. Per la città di Genova il fenomeno dell’immigrazione si manifesta a partire dal secondo dopoguerra con un consistente flusso di soggetti provenienti dalle regioni del sud Italia in cerca di occupazione nelle molte industrie e aziende statali presenti in città e nel porto. Il fenomeno cessa negli anni ‘70 con l’inizio della deindustrializzazione e viene sostituito dall’immigrazione estera dagli stati più poveri del nord Africa e del Centro America. I nuovi residenti si insediano nei sestrieri del Molo, della Maddalena e di Prè (Centro Storico della città) ormai abbandonati dagli abitanti tradizionali e dove il basso livello dei prezzi rende più accessibili gli immobili da parte di questa specifica domanda spesso caratterizzata da ridotte capacità economiche
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Goncharova, Alina, Svitlana Fursa, Valentina Chuikova, Olga Danylenko, and Nataliia Hlushchenko. "Research of the experience of legal regulation and use of European inheritance certificates of the regulation on succession." Linguistics and Culture Review 5, S3 (October 22, 2021): 554–73. http://dx.doi.org/10.21744/lingcure.v5ns3.1553.
Full textAbstract:
The article reveals the problems of inheritance with a foreign element. In the modern world without borders, people change their residence, own real estate, keep bank accounts, and possess other property in different countries. This cannot but have consequences for succession. This, in turn, can create some difficulties, cause disputes between the heirs, and will undoubtedly affect the costs of registration of the inheritance. Another common problem is that a will made in one country may not have legal effect in another country where it must be executed. These and many other issues could not remain unresolved at the level of the European Union. A unified approach to solving many inheritance issues was found through the adoption of Regulation (EU) No 650/2012 of the European Parliament and of the Council of 4 July 2012 on the jurisdiction, applicable law, recognition, and enforcement of decisions and acceptance and enforcement of authentic instruments in matters of succession and on the creation of a European Certificate of Succession. This provision came into effect on August 17, 2015, and applies to cases of inheritance arising after this date. Inheritance cases are formalized by one competent authority (court or other instance) in one state.
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Петросян, С. А., and М. Г. Манучарян. "Система страхования от рисков инвестиционной деятельности в Армении – важная составляющая инвестиционного климата." Вісник Полтавської державної аграрної академії, no. 1 (March 28, 2013): 134–37. http://dx.doi.org/10.31210/visnyk2013.01.35.
Full textAbstract:
Обосновывается важность страхования инвестиционных рисков для привлечения иностранных инвестиций в Армении. Для уменьшения степени политического риска иностранных инвесторов важно и их правильное информационное обеспечение. Как показывает практика, независимо от реального состояния инвестиционной обстановки данной страны, иностранные инвесторы склонны рассматривать как страну с наибольшей степенью риска ту, о которой они имеют минимум информации. Для будущего Армении этот факт крайне важен. А поскольку Республика Армения представляет собой страну «молодую» (начиная с момента получения независимости в начале 90-х гг.), с ограниченным пространством, малой численностью населения, располагающуюся в нестабильном peгионе со сложеными политическими отношениями с двумя странами-соседями (Азербайджаном и Турцией), то Армения не всегда надлежащим образом предстает перед иностранным инвестором в плане политическом, экономическом, социально-культурном.
Importance of insurance of investment risks for attracting foreign investments in Armenia is grounded in this article. The proper information support is important to foreign investors to reduce the degree of political risk. As practice shows, regardless of the real state of investment situation of this country, foreign investors are inclined to examine as a country with the highest degree of risk that country about which they have a minimum information. For the future of Armenia, this fact is extremely important. And as Republic Armenia is a «young» country (since the moment of declaration of independence at the beginning of the 90s), with the limited space, small quantity of population, disposed in an unstable region with complicated political relationships with two neighbouring countries (Azerbaijan and Turkey), Armenia does not always properly appear before a foreign investor as politically, economically and culturally developed country.
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Holtzman, Yair, and Paul Nagel. "An introduction to transfer pricing." Journal of Management Development 33, no. 1 (February 4, 2014): 57–61. http://dx.doi.org/10.1108/jmd-11-2013-0139.
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Purpose – The purpose of this paper is to introduce transfer pricing to a broader community of business leaders who might not be familiar with the importance of this concept. Transfer pricing is a term used to describe inter-company pricing arrangements relating to transactions between related business entities. These can include transfers of intellectual property, tangible goods, services, and loans or other financing transactions. Why is Transfer Pricing Important? The potential for US federal business tax reform and the rigorous pursuit of transfer pricing adjustments by foreign countries are among the top global tax concerns facing senior US tax professionals. Design/methodology/approach – General viewpoint based upon years of consulting work on the topic. Findings – The relevance and importance of transfer pricing is emphasized to a larger business community. Practical implications – This is an excellent introduction to the topic of transfer pricing. Originality/value – The paper is valuable in that it can be read and appreciated by a wide range of audiences.
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Kučera, Zdeněk, and Tomáš Vondrák. "The research and development in the engineering field in the higher education system of the Czech Republic and its international comparison." ERGO 11, no. 1 (June 1, 2016): 3–11. http://dx.doi.org/10.1515/ergo-2016-0001.
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Abstract The Czech Republic is at the forefront of the EU in the contribution of the manufacturing to the total gross value added. The Czech industry contributes significantly to the positive balance of trade of the country. The overall international competitiveness of the Czech Republic will depend upon the innovation performance of the manufacturing sector and its competitiveness on the foreign markets. A necessary condition for extending the share on the foreign markets is the effective harnessing of the national R&D capacity and a strong qualified local workforce. This contribution uses a bibliometric and a patent analysis for the assessment of the R&D carried out by the Czech higher education institutions (HEIs) oriented towards the engineering fields, and selected more general universities, and compares them with similar HEIs in a selected group of developed countries. The analysis indicates that the Czech publication activity in the field of engineering grows. The Czech publications in engineering are cited below the world average which indicates that their impact (and to some extent the quality of the underlying R&D) lags behind the world. The patent activity of the Czech HEIs is on the international scale rather weak. The patenting activity of the Czech HEIs strongly grows since the middle of the last decade. This may by a side effect of the new evaluation methodology which takes into account also the patents. The number of patents registered with the Czech Industrial Property Office increases but on the other hand the international patenting activities tend to stagnate. This gives rise to questions about the real value of the produced patents from the point of their importance for the export competitiveness of the Czech industry.
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Aleshin, Pavel N. "Features of the Zemstvo Taxation in the Great Russian and Foreign Provinces of Russia in the Second Half of the 19th сentury." Economic History 16, no. 4 (December 30, 2020): 399–406. http://dx.doi.org/10.15507/2409-630x.051.016.202004.399-406.
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Introduction. The introduction of the bodies of zemstvo self-government in the Russian Empire led to the need to form the system of zemstvo budgets with their own income items, often falling on the same objects of taxation as state taxes. Most of the income came from taxation of land (state, private and peasant). In addition, the items of income were receipts from the taxation of real estate, trade and industrial enterprises, trade documents, etc. The zemstvo extended not only to Great Russian provinces but also to foreign ones, in so doing the functions of zemstvo had their own characteristics, since it was necessary to take into account ethnic and religious characteristics in provinces with a predominance of the non-Russian population. The purpose of the article is to clarify the comparison of the main sources of income of the zemstvo budget in ethnically different regions of the Russian Empire. Materials and Methods. The solution of research problems was provided by a complex of complementary theoretical (analysis of scientific literature, comparative analysis, comparison, generalization, systematization) and empirical (study and generalization of published and archival sources, hermeneutic) methods. Results. A comparative analysis of the principles and objects of taxation between the provinces of these groups (Kursk and Ufa) showed the similarity of approaches and priority of land taxation as the simplest and covering most of the payers. Discussion and Conclusions. The principles of forming zemstvo budgets throughout the Empire were unchanged, focused on the property approach of taxation, which was rather archaic due to the introduction of income taxation in the advanced countries, as the fairer one, while in Russia the main burden of taxation still fell on the shoulders of the peasantry, and led to the deficit of the zemstvo treasury. This brings the problem of forming zemstvo budgets to a further level of research into social, political and economic history.
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Ti, Haowei, Zhiyun Hu, and Gang Bian. "Comparison between Sino-US Trade War and the Opium War of the Qing Dynasty." International Journal of Trade, Economics and Finance 12, no. 2 (April 2021): 58–61. http://dx.doi.org/10.18178/ijtef.2021.12.2.694.
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The Sino-US trade war has become more and more fierce. From March 2018 to the present, China and the United States have begun to constantly increase tariffs and restrict each other. Negotiations are still going on and it seems that no real progress has been made. Soybean procurement, sanctions against Huawei, chip battles, intellectual property wars, and technology transfer have been escalated, and both sides of the trade have been affected to varying degrees. At the end of 2019, if all the tariffs in the Trump plan were implemented, it meant that almost all goods from China (worth about $550 billion) would be subject to punitive tariffs. First Opium War‘ Britain often called it the first Sino-British war or "commercial war". It was a war of aggression launched by Britain from China from 1840 to 1842, and it was also the beginning of modern Chinese history. In 1840, the British government used Lin Zexu's Humen cigarettes as an excuse to decide to send the expeditionary forces to invade China. In June 1840, the British warships arrived in the Pearl River Estuary in Guangdong, blocking the seaport, and the Opium War began. The Chinese and British sides signed the "Nanjing Treaty", the first unequal treaty in Chinese history. China began to rip land, indemnify, and negotiate tariffs to foreign countries. The Nanjing Treaty seriously endangered China's sovereignty. China began to become a semi-colonial, semi-feudal society, losing its independent status and promoting the disintegration of the natural economy.
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Smirnov, E., and S. Lukyanov. "International Political Economy of Preferential Trade Agreements." World Economy and International Relations 66, no. 5 (2022): 32–40. http://dx.doi.org/10.20542/0131-2227-2022-66-5-32-40.
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The change in the concept of globalization of the world economy has led to serious structural changes in the global governance of international trade, as well as in the theory and practice of organizing preferential trade agreements (PTAs) between countries. At all stages of economic globalization, the main motive for the creation of the PTS was the expansion of access to foreign markets. The period of slowbalization of the world economy after the global crisis of 2008–2009 led to a further increase in trade protectionism. The role of traditional determinants in the creation of PTAs is decreasing, while the lobbying activity of exporters – transnational companies – is becoming more significant, which leads to an increase in the unevenness of benefits received by participants in international exchange. The focus of the international political economy of the PTA is shifting from traditional tariff and non-tariff trade barriers to the study of the conditions for cross-border investment, rules for the protection of intellectual property, environmental issues, and production standards. The multidimensionality of trade policy at the present stage dictates the need to revise the preferences prevailing in international trade. Trade policy covers not only cross-border exchange, but also international production. Modern PTAs are an alternative design to the WTO multilateral trade regulation, which will simplify traditional international exchange procedures. In addition, in the PTAs, some aspects of competition rules that are poorly spelled out in the WTO may be especially significant, since the risks of collusion of firms in this case may already cover several jurisdictions. An important role in understanding the political and economic nature of PTAs is played by their “distributional” consequences, when the gains of different countries from participation in the PTAs becomes uneven, which is a serious challenge for real economic integration between countries. To develop new approaches to organizing PTAs requires a clear understanding of the new nature and scale of economic globalization. Therefore, in the coming years, we will face the transformation of the designs of the already created PTAs, taking into account the new challenges that have emerged in international trade.
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Solonenko, Yu. "Family business: comparison with non-family, key differences and features of operation." Galic'kij ekonomičnij visnik 71, no. 4 (2021): 140–50. http://dx.doi.org/10.33108/galicianvisnyk_tntu2021.04.140.
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One of the traditional methods of the investigation of family business, as the most common and sustainable form of management in the world, is its comparison with the activities of non-family businesses. This approach makes it possible` to introduce into the analysis a fairly large list of indicators, which in turn increases the understanding of the functioning of both family and non-family companies. In this paper the investigation of family enterprises is carried out on the basis of developments of leading foreign scientists and the table is formed. Thus, the invesstigation demonstrates significant differences between family and non-family business, which are reflected in the general indicators, structural organization, forms of ownership, management, theoretical justification of doing business, business goals, available resources of the firm. Differences in both interior and exterior of the operation of these business facilities are defined. In general, the family business is socially oriented, aimed at stable moderate growth, resilient in times of crisis, adaptive, risk-averse, aimed at the long-term perspective of existence in order to pass it on to the next family generation. Analyzing the social systems of economically successful countries, such as the United States, Japan, the European Union, the Persian Gulf and East Asia, we find that the main form of ownership belongs to the family business. More detailed analysis of the economic systems of these countries reveals the formation of the balance between the ownership structure and the power structure. The ownership structure is characterized by large percentage of independent private owners, where the family form of ownership is widely represented in the leading sectors of the economy, and the family business itself is the dominant form of entrepreneurship. It is the family business that configures the property system within a single country, forming powerful social stratum of independent owners who control the main resources of the state. The presence of this layer results in the evolution of power democracy, where state institutions do not have declarative powers, but operate in real formal democracy. The level of real democracy (democracy) in the country is determined not by freedom-loving articles of the Constitution, but by the number of independent owners in the state. Family businesses and independent family owners are closely linked to local communities, are an integral part of them, providing jobs and employment in the regions, which is the basis for economic prosperity of local communities and the country as a whole.
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Solonenko, Yu. "Family business: comparison with non-family, key differences and features of operation." Galic'kij ekonomičnij visnik 71, no. 4 (2021): 140–50. http://dx.doi.org/10.33108/galicianvisnyk_tntu2021.04.140.
Full textAbstract:
One of the traditional methods of the investigation of family business, as the most common and sustainable form of management in the world, is its comparison with the activities of non-family businesses. This approach makes it possible` to introduce into the analysis a fairly large list of indicators, which in turn increases the understanding of the functioning of both family and non-family companies. In this paper the investigation of family enterprises is carried out on the basis of developments of leading foreign scientists and the table is formed. Thus, the invesstigation demonstrates significant differences between family and non-family business, which are reflected in the general indicators, structural organization, forms of ownership, management, theoretical justification of doing business, business goals, available resources of the firm. Differences in both interior and exterior of the operation of these business facilities are defined. In general, the family business is socially oriented, aimed at stable moderate growth, resilient in times of crisis, adaptive, risk-averse, aimed at the long-term perspective of existence in order to pass it on to the next family generation. Analyzing the social systems of economically successful countries, such as the United States, Japan, the European Union, the Persian Gulf and East Asia, we find that the main form of ownership belongs to the family business. More detailed analysis of the economic systems of these countries reveals the formation of the balance between the ownership structure and the power structure. The ownership structure is characterized by large percentage of independent private owners, where the family form of ownership is widely represented in the leading sectors of the economy, and the family business itself is the dominant form of entrepreneurship. It is the family business that configures the property system within a single country, forming powerful social stratum of independent owners who control the main resources of the state. The presence of this layer results in the evolution of power democracy, where state institutions do not have declarative powers, but operate in real formal democracy. The level of real democracy (democracy) in the country is determined not by freedom-loving articles of the Constitution, but by the number of independent owners in the state. Family businesses and independent family owners are closely linked to local communities, are an integral part of them, providing jobs and employment in the regions, which is the basis for economic prosperity of local communities and the country as a whole.