Many countries seek to improve their pension systems by introducing corporate and individual savings plans to address the challenges of demography, social security, and economy. However, the establishing of a long-term, reliable savings system encounters multiple impediments. The retrospective analysis of Russian pension reforms offers some recommendations on solving the typical problems faced by reformers. Thus, in 2002 the Russian pension system was implemented by a mandatory savings pillar, which 20 years later the Ministry of Finance substituted by voluntary savings­. As this period appeared shorter than the average life span, this measure proved ­ineffective in increasing pension payouts for future retirees. The frequent regulatory changes and the shrinking workforce coverage as the state prioritized the welfare of the current pension recipients also infringed upon the interests of future retirees. Pension savings investments were further affected by the economic policy aimed at the minimal return requirements which resulted in a more conservative asset allocation strategy and inefficient active management in non-state pension funds. The study demonstrates that policy actions to overcome these impediments and to raise the replacement rates for future retirees should include (a) steady regulations within a pension savings system of no shorter than 40 years; (b) the savings pillar covering no less than 80% of the workforce; and (c) the asset allocation strategy involving a bigger share of equity, longer time horizon and clear benchmarks. These recommendations can be applied to emerging market economies concerned with improving and reforming their pension systems.

This study outlines the features of financing investment development in Sub-Saharan African countries. Using the financial determinants of GDP, a model was developed based on the method of least squares employing data covering 2004–2018. It was revealed that a positive correlation exists between economic growth and bank loans as well as official development assistance. The results of the model indicate that bank loans and remittances significantly increase economic growth. However, both foreign direct investment and official development assistance (ODA) were found to be ineffective in promoting development, and this is attributable to its investment model (resource-seeking) and the conditions under ODA financing, respectively, in the region. Bank loans were found to be the most influential in promoting sustainable growth in the region. Hence, it is instructive that the reforms are needed and incentives are to be developed to improve the level of the region’s financial and banking sector development and facilitate the sustainable socioeconomic development of these economies.

In an era where data-driven decision-making is crucial for sustainable development, the role of open data initiatives in shaping potential and strategic outcomes has gained increasing attention. This study investigates the potential impact of National Open Data (NOD) initiatives on human capital development, with specific emphasis on their contribution towards achieving United Nations Sustainable Development Goal 3 (SDG3) targets. It explores the relationship between these initiatives and the Human Development Index (HDI) across different countries and regions aiming to ascertain if there is a significant association between open data and human development. The results indicate a strong positive correlation between NOD initiatives and HDI, suggesting that open data can play a crucial role in enhancing human development and meeting SDG3 targets. However, the strength of this relationship varies significantly across regions, with a more pronounced impact observed in Latin America compared to Africa. These findings underscore the potential of open data in propelling human capital development but also highlight the need to contextualize such initiatives based on unique regional dynamics. The study serves as a resource for policymakers in leveraging open data to enhance human development outcomes and progress towards achieving SDGs.

Contributing to a discussion on rural employment forecast in Russia, this paper sys­tematizes the challenges for the rural labor market: population outflow, weak impulses to develop non-agricultural employment and rural entrepreneurship, changing labor needs in agriculture and a decline in the number of labor migrants. The results of the regional differentiation research show that the response strategies of Russian regions to stabilize employment differ significantly and include active intra-Russian labor migration or reliance on high agricultural state support, development of self-employment and jobs preservation in labor-intensive, low-productivity sectors of agricultural production. The article discusses rural development prospects associated with the return migration of urban residents to rural areas, which creates a new basis for rural employment growth. A theoretical implication of the rural employment perspectives discussion is the proposed concept of “out-of-urban employment” that actualizes the traditional approach of seeking employment only for indigenous rural people who have lost their jobs in agriculture, and includes new types and forms of employment for urban dwellers. Analysis of the current state support for rural employment in Russia shows that it is poorly aligned with the existing challenges. The scale of both financing and the number of potential participants is small; direct support measures are limited to the agricultural sector, while indirect ones — through support for rural infrastructure — create mainly public sector employment. The practical implications of the outcomes are some proposed ways of developing measures to support rural employment, taking into account non-agricultural rural economy needs.

This article delves into the proliferation of dacha as a second / temporary country residence for urbanites in Russia. The phenomenon is viewed from a socio-cultural and economic perspective, uncovering the reasons behind their popularity among Russian city dwellers­. These reasons are related to the geographical, historical, and economic features of the nation as well as to the evolution of rural areas and agriculture across various zones. The article analyzes the diversity of second homes, their types, quantities as well as ­preferences and activities of dacha dwellers (dachniks), their socio-economic composition­ and the challenges they face, contingent on the geographic location of these estates and the demand for them among specific urban groups. It is found that the interaction ­between dachniks who come from urban centers, local communities, and rural economies, as well as the distinctive facets of dacha life, vary markedly depending on the natural and socio-economic conditions, which are largely shaped by the remoteness of a place from cities. Special emphasis is put on the distribution and distinctiveness of dachas in the Non-Black Earth zone regions of central Russia, where their prevalence and significance are especially pronounced.

Improving people’s livelihood resilience against risks and challenges plays an important role in consolidating the achievements of poverty reduction. The paper uses 64 poverty-stricken counties in China’s Sichuan province as the study area and explores the link between spatial segregation and human capital. The results show that the proximity (spatial segregation) is significantly and negatively associated with people’s educational attainment and their acquisition of non-farming employment. Residents in villages which are distant from the county center tend to obtain less educational opportunities and are less likely to engage in non-farming jobs than those who are close to the county center. The mediating effect analysis indicates that remoteness mainly reduces the propensity of getting non-farming jobs by reducing the human capital of rural residents. Further analysis shows that the association between proximity, human capital and the probability of acquiring non-farming work is higher in areas with lower economic level and less developed transportation infrastructure. Policy implications for improving people’s livelihood resilience in impoverished areas are proposed in the paper.