Anti-crisis Policy Research Articles

Legal Regulation of Formation and Management of the “Safety Cushion” as an Instrument of the Anti-Crisis Policy of a State

Legal Regulation of Formation and Management of the “Safety Cushion” as an Instrument of the Anti-Crisis Policy of a State

Прогнозирование социального поведения в кризисных условиях российского социума: возможности методического конструирования

The article examines the problem of forecasting social behavior in the crisis conditions of Russian society. Before proceeding to the consideration of this issue, the author analyzes the concept of social forecasting, highlights its main functions and stages, and notes that forecasting is associated with anticipating the direction of development of a certain social phenomenon in the future, which is realized by transferring to it ideas about how this phenomenon develops in the present. The author notes that in the conditions of the crisis state of functioning of Russian society, the value of information obtained through social forecasting techniques is manifested in the role that this information plays in determining the goals of state anti-crisis policy, the management system of socio-economic processes as a whole. After that, the author proceeds to consider the main methods of forecasting social behavior, indicates that the practice of social forecasting indicates the expediency of using combined methods, which is especially relevant in relation to forecasting social behavior. It is concluded that it is necessary to use various forecasting methods, which can make it possible to determine the dynamics of social behavior in crisis conditions with the highest degree of probability.

INNOVATIVE ANTI-CRISIS MANAGEMENT AT TRADE ENTERPRISES IN THE CONTEXT OF EUROPEAN INTEGRATION AND RISKS IN UKRAINE

The article examines the activities of commercial enterprises during the crisis caused by the war, the coronavirus, and the European integration aspirations of Ukraine as a candidate for membership in the European Union. Despite the significant number of publications on anti-crisis policy, there are still unresolved problems related to risk management in the process of ensuring the anti-crisis policy of trade enterprises in the global economic uncertainty. Most of the companies in this sector suffered collapse and bankruptcy due to the complexity of operating conditions during this difficult period: power cuts, labour migration, changes in international and domestic supply conditions, selection of new suppliers, destruction of road and warehouse infrastructure, and the search for new logistics routes. The aim of this article is to offer practical recommendations that will help retailers strengthen their resilience, adapt to the changing environment through innovative crisis management measures, and quickly recover from the crisis to reach or exceed the previous level of financial and operational stability. The research methodology involves a two-pronged approach: a qualitative study through a literature review and interviews, which gives an idea of crisis management, and quantitative methods, including surveys and analysis of financial indicators. The article examines the activities of trade enterprises in the crisis period of the pre-war years, i.e., the time of the pandemic's impact on the dynamics of trade. It analyses the losses of retailers during the war. The objectives of crisis financial management are defined. The relationship between crisis management and the solvency and financial stability of trade enterprises is determined. The impact of insolvency of trade enterprises on the payment of wages to employees is identified. The authors propose a number of anti-crisis measures for trade enterprises in the context of wartime and a global pandemic, such as transition to online trading using marketing strategies and plans, cost reduction, effective inventory management, modelling the sensitivity of financial indicators to changes in the external environment, and search for innovative opportunities. Attention is focused on the growing role of human capital in business recovery, including the importance of staff training and professional development, improvement of motivation systems and human resource management. The paper suggests ways to increase labour productivity, such as process automation and the effective use of data analytics. Results. Thus, the objective need for innovative tools for crisis management of trade enterprises becomes a key element of research in the context of European integration and wartime.

Anti-Crisis Industrial Policy of the Constituent Entities of the Russian Federation during the COVID-19 Pandemic

The COVID-19 pandemic was one of the first “black swan” for the global economy. Regional authorities in Russia were faced to support their regional economies but they were faced with uncharacteristic independence. The issue of assessing the effectiveness of regional anti-crisis industrial policy measures in Russia during the COVID-19 crisis is becoming urgent. The purpose of this study is to search for the most successful measures of regional support in Russia during the designated period. The study is based on the conceptual framework of the St. Petersburg School of Industrial Policy. Descriptive statistics, cluster analysis, and correlation analysis are used as statistical methods of analysis. 1196 anti-crisis industrial policy measures were classified in all 85 regions of the Russian Federation. A scatter diagram of regions was constructed with indicators of the scale for assessing the intensity of the anti-crisis industrial policy and the scale of the impact of the crisis on socio-economic indicators. Four clusters were identified: (1) regions that practically did not implement an anti-crisis industrial policy and suffered during the crisis; (2) regions that have significant economic stability and are less likely to resort to active anti-crisis policies; (3) regions, the values of indicators of the dynamics of socio-economic indicators of which are at an average and below level, but are pursuing, on average, a more intensive anti-crisis policy; (4) regions that pursued an active anti-crisis industrial policy and achieved good socio-economic indicators. Correlation analysis did not reveal a stable connection between the intensity of the anti-crisis policy and the crisis dynamics of socio-economic indicators. The study also presents leading regions and outsider regions in terms of anti-crisis industrial policy measures for each of the 4 clusters.

Актуальные проблемы реализации государственной экономической политики на современном этапе: антикризисный аспект

The subject of the study is the priorities of state policy in the field of economic development at the federal and regional levels. The purpose of the work is to establish anti–crisis aspects of the transformation of Russia's economic policy in the context of the new reality of a changing geopolitical format based on the use of such general scientific methods as observation, collection and processing of statistical data, comparison, study of information sources, critical review of scientific publications, etc. The article examines the dynamics of macroeconomic indicators for 2022 and the first quarter of 2023. The main problems and crisis-forming factors of the functioning of the Russian economy are identified. The prerequisites for the transformation of economic state policy are determined. Special attention is paid to evaluating the effectiveness and efficiency of anti-crisis measures taken by the Government of the Russian Federation. The vectors and drivers of further economic development are highlighted and promising directions of the state's anti-crisis policy are substantiated. The article concludes that it is necessary to move from the period of formation and implementation of an adaptation policy within the framework of modern realities of functioning in new geopolitical conditions to economic growth based on the implementation of a set of anti-crisis measures to form an updated economic potential of the country with self-sufficiency and full scientific, technological, personnel, production, financial sovereignty for a radical change and elaboration of the vector of further development of the domestic market on the basis of a clear strategic program of a set of anti-crisis measures and a radical change in budgetary and social policy.

БИЗНЕС ЦИКЛЫ, АНТИКРИЗИСНАЯ ПОЛИТИКА И ИНФЛЯЦИЯ (СРАВНИТЕЛЬНЫЙ АНАЛИЗ)

The purpose of this article, within the framework of cyclical fluctuations in the global economic situation, is to consider the two largest crises of our time - the global crisis of 2007-2009 and the crisis of 2019- 2021. The comparative analysis of their depth and consequences was carried out Common features and their specifics were identified in various groups of countries based on the economic indicators of Russia, the USA and the European Union. Anti-crisis policy measures, the use of fiscal instruments and monetary regulation are considered, and their effectiveness is compared. An analysis of anti-crisis steps showed that, despite the commitment of the governments of some countries to the monetary model of regulation, the time has come when objective economic reasons force them to use the tools of the neo-Keynesian model. Signs of a change in political course towards strengthening state participation in the economy are considered to solve structural problems that are deepening crises, and to overcome the protracted stagnation.

Risk management strategy and methodology of their analysis in logistics of Kazakhstan

The purpose of this article is to highlight an important topic for the developing logistics complex of Kazakhstan. The study of risk management strategies and their implications is a fundamental tool in choosing the shortest and most efficient way to develop the economy of Kazakhstan. The author proposes his personal view on the problems of risk management in Kazakhstan and possible solutions. The article is intended to supplement the existing body of knowledge in this scientific segment, thus highlighting the importance of the studied topic. The logistics industry of Kazakhstan is on the threshold of exploring various modern methods of management and business processes. The development of strategies of anti-crisis measures will prevent stagnation in the development of the industry. In parallel, the author compares the studied material with real logistics processes and events in Kazakhstan. Conducting work on mistakes is the first step in self-development. The article seeks to identify, classify risks, outline strategies to minimize the likelihood of their occurrence and, if they do occur, minimize the consequences.The conclusions of the study include recognition of the fact of imperfection in some cases of anti-crisis policy of Kazakhstan, which led to the adoption of ill-considered decisions that lead to undesirable long-term consequences. The author also considers priority, in the author’s opinion, ways to develop the logistics industry in Kazakhstan.

Russian industrial companies under the “second wave” of sanctions: Response strategies

The article presents initial findings of a research project aimed at analyzing the impact of the “second wave” of sanctions in 2022 on the behavior of Russian companies, assesses their actions to adapt to the new conditions. This paper is based on survey data collected from managers of 1860 Russian manufacturing companies between August and November 2022. Despite the severity and scope of the sanctions, one third of the companies did not take adaptation measures, particularly local, technologically backward firms without innovative activity. On the whole, firms integrated into the global economy reacted more actively to new threats than those confined to the domestic market. We found significant variability in companies’ responses to the sanctions shock. Four basic quasistrategies of firms’ response are identified. The first one involved reducing current activities, employment, and investments. These actions were most common in industries integrated into global value chains, notably automotive industry and wood processing. The second strategy included simplifying products to reduce dependence on imports, finding new markets, and changing investment directions — typically seen in pharmaceutical firms. The third one consisted of altering supply channels for materials and components, and it was frequently adopted by manufacturers of rubber and plastic products. The fourth strategy focused on digitalization, developing new products, and increasing interaction with authorities. This was characteristic of industries whose markets have carved out niches due to the exits of major foreign players, in particular, manufacture of furniture. We highlight the following recommendations for the state anti-crisis policy: In 2022, the relative success of companies’ adaptation was associated with the implementation of “easy” import substitution. However, in the future there will be a need to prioritize support for the development of domestic technologies and increased access to knowledge. In conditions of high uncertainty, it is crucial to assist companies in building their own value chains, and predictability of government actions appears to be a significant factor in enhancing private initiative.

Finance minister I. A. Vyshnegradsky and the famine of 1891-1892

The article provides an overview of the activities of the Minister of Finance of the Russian Empire I.A. Vyshnegradsky aimed at overcoming the consequences of crop failures of 1891-1892 and the disorder of public finances. Such measures as the allocation of significant funds for the purchase of bread for the starving population, the reduction of railway tariffs for the transportation of goods to the affected provinces, the provision of benefits to borrowers of state-owned credit institutions, the prohibition of grain exports abroad, the organization and conduct of public works, the additional issue of credit cards to fill the channels of monetary circulation, the conclusion of an external "golden" loan, limiting departmental spending in order to reduce the budget deficit, stop the fall of the ruble and Russian securities. It is concluded that, despite some shortcomings and failures of anti-crisis policy, government measures have played a significant role in the fight against hunger.

Fiscal and Tax Policy Response to New Challenges and Budget Performance in the First Quarter of 2023

The beginning of 2023 allows us to draw the first results of the Russian economy response to the impact of external and internal shocks in 2022. The structure of the Russian economy remains relatively stable, many catastrophic forecasts have not materialized. However, the sanctions that have come into force and the rapid measures of the anti-crisis policy pose a threat to fiscal stability. The main burden falls on the federal budget, but in the medium term, the depletion of federal reserves will also affect the state of the regional budgets. The paper analyzes the dynamics of indicators of the consolidated budget of the Russian Federation and the budgets of state off-budget funds, as well as separately – the federal budget. In conditions of limited access to data on budget execution, some conclusions are hypotheses and assumptions. In addition, the statistics were distorted by the introduction of the unified tax payment mechanism. The paper distinguishes between the mechanism of the impact of temporary and permanent exogenous shocks. The response of fiscal policy is considered in the context of the division of measures into temporary and structural changes, and appropriate recommendations are given.

Application of systems analysis for reconstruction of the model of cross-border resource flows and collaboration in R&D under the influence of sanctions

Purpose: of the article is to form assessments based on system analysis to determine with whom Russia needs to interact in a situation of severe sanctions both in an open economy and whithin the framework of an open innovation model.Methods: the provisions of the system-economic paradigm and methods of an system analysis are applied to the economy, business, state, scientific, technical, infrastructural, social environment.Results: the results of a system analysis of the conditions and factors influencing the reconstruction of the model of cross-border resource flows and scientific and technical cooperation under the influence of sanctions are presented. The hypothesis is confirmed that the replacement of high-tech imports from the EU with supplies from China, India and other developing countries cannot be considered as a systemic solution in the long term, but can to a certain extent serve the Russia's technological security; maintain the stability of the production cycle in the Russian economy during fluctuations. This is illustrated by empirical evidence for the flow of energy resources and goods between countries and R&D collaboration. Arguments are given to substantiate the hypothesis about the strengthening of the influence of relationship factors, the interests of the parties, the human factor on the change in resource flows and the nature of scientific and technological cooperation due to the growing uncertainty of the situation. Variants of the influence of the relationship factor are considered from a systemic standpoint: on the one hand, as an adaptive, shaping factor of a turn towards Asian countries; on the other hand, as destructive, in which each of the parties pursues its own interests.Conclusions and Relevance: the results of the analysis confirm the relevance of the traditional recommendation to structurally and geographically diversify cross-border interactions based on the principle of a parity exchange of resources for advanced technologies and high-tech goods. The results of the analysis are consistent with the findings of leading scientists and experts in this field and can be used to make agile decisions about anti-crisis policy, national strategies, international interactions, and R&D collaboration.

Retrospective analysis of the development of the energy crisis in the European Union

The purpose of the article is to analyze the current economic state of the European Union in the context of the progressive energy crisis. The article characterizes the importance of energy as the most important area of human economic activity for the world economy, identifies the causes and scale of the current energy crisis, examines the directions of countering the energy crisis in the European Union on the example of Germany and France. Within the framework of the conducted research, both general scientific methods (abstraction, analysis, synthesis, analogy, comparison) and methods of comparative legal and content analysis are used. The analysis showed that the crisis phenomena in the energy industry are predetermined by three main groups of causes - natural, geopolitical and economic. The article substantiates the characteristics of the European Union as the center of the modern energy crisis, indicating the conditions for the emergence of a crisis situation in Europe in recent years, which are not related to the special military operation conducted by the Russian Federation in Ukraine. In conclusion, the article substantiates the lack of a strategic nature of the anti-crisis policy of the European Union in the energy sector. The results of the conducted research can be useful for economists involved in the world economy and international economic relations, as well as for undergraduates, undergraduates and postgraduates.

Резервные фонды в регионах России: факторы учреждения и оценка эффективности

The article considers the main characteristics of the Russian Federation subjects’ reserve funds analyzes the factors of their formation and assesses their effectiveness through the lens of the regions’ countercyclical fiscal policy. In theory, reserve funds serve not only as a source of additional budgetary funds, but also as an instrument of anti-crisis policy and financial stability. In practice, the reserve funds of Russian regions are believed not to fulfill the designated tasks, although the number of relevant studies is extremely limited. The latter determines the relevance of this study. The authors establish that the regional reserve fund of the subject as a public-law entity was established only in about half of the Russian regions and in many respects their creation coincided with the recovery growth after the crisis of 2009–2010. The theoretical provisions are also consistent with the fact that on average the reserve fund is owned by the entities whose economy is more dependent on the mining industry, has greater fiscal capacity, is less subsidized and has a lower level of debt. At the same time, greater fiscal capacity or debt sustainability can hardly be considered as factors in the creation of reserve funds. A number of models are constructed to assess the effectiveness of reserve funds of Russian regions from the point of view of countercyclical fiscal policy. It is concluded that reserve funds in their current form are ineffective for smoothing regional expenditures and maintaining overall fiscal stability. Nevertheless, many questions remain in this topic, including alternative model specifications and evaluation techniques. Based on the results obtained, the directions for further research are formulated.

Механізми створення кризостійкої світової фінансової архітектури

Today, there is a clear need to create a new world financial architecture. In this regard, the key task of the leading countries is to reform the mechanisms for regulating world financial markets and supervising the operations of their participants in order to counter crisis shocks. Therefore, the aim of the article is to identify mechanisms for creating a crisis-resistant world financial architecture (WFA) and to analyze strategic approaches to increasing the stability of the global financial system in the face of modern economic and political challenges. In the course of writing the article, economic and statistical methods of analysis, description, measurement, comparison and observation were used. In the process of the study, general theoretical methods of scientific knowledge were also applied: synthesis, deduction, and induction. The study carried out a retrospective analysis of the world financial crises in order to allocate their main features; identify the most effective strategies for restoring positive trends and the effectiveness of anti-crisis policy under different conditions. An analysis of the current state of the WFA has been carried out and the main crisis processes of today have been defined. In order to develop a new strategy for ensuring a crisis-resistant system, a systematization and analysis of existing modern mechanisms for the prevention of financial crises has been carried out. As a result, the following are allocated: the monetary path; regulatory (infrastructural) approach; the use of a new world reserve currency instead of the US dollar; introduction of a regional currency with the possibility of using different underlying assets and transition to the currencies of individual countries. The results of the study were the identification of priority strategic steps and the development of recommendations for achieving the sustainability of the world financial architecture: compliance with the principles of counter-cyclical fiscal management; prudence in the implementation of monetary policy; the need to strengthen regulatory and supervisory control; timely detection of imbalances arising in financial markets; clear risk management and proper international cooperation. Prospects for further research in this direction can be: study of the impact of regional initiatives on the world financial architecture and the possibility of their use to reduce the vulnerability of the world economy to financial crises; development of innovative financial instruments and their importance for the WFA.

The Silesian Sanation on the Great Economic Crisis of the 1930s

Goal – the article analyzes the anti-crisis policy of the Silesian Sanation. In this challenging period for the economy, the Silesian provincial authorities had to counteract the crisis’s adverse effects and defend themselves against attacks from the opposition, mainly the Silesian Christian Democrats and socialists, who criticized their actions. Research methodology – source analysis, comparative, and description methods were used. This investigation is based on pre-and post-war studies on the discussed topic. Score/results – during the crisis years, the Silesian authorities extended the public works system and triggered the Polonization of the Silesian industry. Contrary to the central government, the active involvement of the state in economic life was accepted by the Silesian Sanation. The state was taking over indebted German enterprises because of the weakness of the Polish private capital. Originality/value – the article is based on source materials, i.e., Prints and Transcripts of the Silesian Parliament, materials from the National Christian Labor Union congresses, and the Sanation press. The Silesian Sanation stance towards interventionism was stated, which is often forgotten when writing about the government’s attitude (as a representative of the total authorities) to the state’s role in the economy.

ПЕРІОДИЗАЦІЯ РОЗВИТКУ БАНКІВСЬКОЇ СИСТЕМИ УКРАЇНИ У КОНТЕКСТІ РЕАЛІЗАЦІЇ МАКРОЕКОНОМІЧНОЇ ПОЛІТИКИ НАЦІОНАЛЬНОГО БАНКУ УКРАЇНИ

The article examines the periodization of the development of the banking system of Ukraine, as well as the formation and implementation of monetary and macroprudential policies of the National Bank of Ukraine in the context of each specified period. Understanding the specified stages and the reasons for their formation and implementation is key to assessing economic processes and progress in the country. The question of determining the first stage of forming a banking system in Ukraine is debatable. The points of view of different Ukrainian scientists are demonstrated, and the author's interpretation of the selection of the starting point of the formation of this system is given. The factors used to build authorial periodization, namely crisis phenomena, reforms, significant changes in the number of commercial banks, legislative changes, and other internal and external factors, are described. The author's interpretation of the periodization of the development of the banking system of Ukraine is provided. The implementation of different central bank policies is demonstrated in the context of the outlined periods. Particular attention is paid to the monetary and the macroprudential policies, their formation and strengthening during different periods of development of the Ukrainian banking system. It demonstrates how certain crises affect the improvement of the Ukrainian banking system as a whole. The implementation of the reform of the banking system in 2015–2016 is analyzed, and the impact on the further development of the system, as well as the improvement of anticrisis practices of the central bank, is shown. It also determined how certain macroeconomic policy instruments influence the anticrisis policy of the National Bank of Ukraine, thus outlining the beginning and the ending of the periods. The prospects for further research are outlined. The actuality of this article and the topic of research is the need for constant updating of the theoretical development of the analysed topic because the banking processes are dynamic phenomena and require a rapid response to changes in the economy. A detailed study of banking processes during wartime is absolutely necessary since extremely dynamic processes are observed, and it is needed to respond quickly to changes in the economy.

КАДРОВА ПОЛІТИКА ПІДПРИЄМСТВА У КРИЗОВИХ УМОВАХ ГОСПОДАРЮВАННЯ

The article is devoted to the management of personnel policy of the enterprise in the crisis conditions of doing business. The urgency of the problem of personnel policy management, the importance of personnel risk analysis for the enterprise is substantiated. The author uses induction, analysis, and deduction techniques to study the issue. The abstract and logical method is also used to identify the most important tasks and principles of HR policy management in a crisis. The main objectives of personnel policy are highlighted, the features of its implementation are described. The main stages of crisis improvement of the structure and qualitative composition of the staff, its main directions, namely optimization of the number of employees as well as the formation and development of the personnel core of the company are considered. Emphasis is placed on the importance of conducting a study of the state of workplaces, and their technical improvement, to improve the comfort of workers and increase productivity. Each of the stages is considered in detail, their features are described and the most important aspects that need to be paid attention to are described. The impact of staff reduction in the crisis period, methods of reduction, positive and negative consequences are analyzed. Based on the literature, the principles of personnel management are proposed depending on the type of anti-crisis policy, the stage of the crisis and the goals of personnel management. The main features of different types of personnel policy depending on the stages of crisis development at the enterprise or in the country are highlighted. The importance of personnel rotation, namely managers, the peculiarities of their selection for the company, the main qualities and skills that are the criteria for deciding on the hiring in the company are emphasized. Particular attention is paid to the skills of managers, thanks to which changes will be made and the vector of development of the enterprise will be chosen. The innovative sphere of personnel management is described. The components of innovative potential that form it and their impact on the work of the enterprise are highlighted.

System “Person-State-Society” in Period of Social Turbulence and Big Challenges (Case Study: Tomsk City, the Russian Federation)

The article reflects the role of society in an era of uncertainty and people’s behavior in response to big challenges. The aim is to consider the responsibility for resolving crisis situations by state power. Comprehending is possible on the theory formed by the concepts of social turbulence and aggravated regimes, which are based on such characteristics of processes as nonlinearity, spontaneity, uncertainty, and high speeds. This study offers the hypothesis about the shift in the value orientations of the population from the rational to the irrational area in the face of growing uncertainty and turbulence in the environment, which should become the subject of managerial influence when forming a corrective or anti-crisis policy, and about the formation public demand for “strong” state intervention, protecting the population from the negative consequences of regimes with escalations. The article concludes the practical significance and applicability of the research, but also as a theoretical basis for the development of methods and technologies for diagnostics of public demand within the framework of information and analytical support of public administration.

Essence and content of anti-crisis management in Russia

The author of the publication reveals the problem of liquidity management and asset valuation during a crisis. These aspects are of particular importance, since their goal is similar: to determine the investment attractiveness of a business and its solvency (both for third-party investors and for self-audit). First of all, the author pays attention to the peculiarities of liquidity management. He emphasizes that a wide range of methods is used to form the liquidity metric. In addition, the author notes that in a crisis situation, attention is also paid to issues related to the implementation of effective working capital management, the purpose of which is to calculate the structure and volume of current assets, the sources from which they are covered, and their relationship relative to each other. According to the theoretical developments of domestic authors in the field of financial management, there are many options for influencing the level of risks. The article provides a list of the main methods widely used in practice in Russia. Further, the author discusses the importance of creating an effective mechanism for anti-crisis management, as well as the high requirements for liquidity management. He reinforces his thoughts with the example of the bankruptcy of Transaero. After that, the author pays attention to the issue of asset management in a crisis period. They identified several effective methods used in the event of a crisis. It is emphasized that asset management takes into account the potential for changes in their market value. In some sectors, the market value of assets can depreciate extremely intensively, while in others, on the contrary, it can increase. According to the author, anti-crisis policy in an unstable economic environment can be reoriented to the use of more rational asset formation tools in the current conditions.

Analyzing the current state of the Russian economy at the macro-, meso- and micro-levels

Subject. The article examines the issues of economic policy and analysis of the current state of the economy at the macro-, meso- and micro-levels. Objectives. The purpose is to underpin theoretical aspects and methodology for comprehensive analysis of the current state of the economy at the macro-, meso- and micro-levels, to develop some aspects of the methodology to analyze the implemented economic policy. Methods. The study rests on general scientific principles and methods of research, like abstraction, generalization of approaches of domestic and foreign authors to economic policy and analysis of economic condition of economic entities. Results. The study summarizes the directions of sanctions at the macro- and meso-levels, explores the directions of damping sanctions of the policy of the State and enterprises. I offer a methodology for assessing the current state of the economy. It includes three stages. At the first stage, macroeconomic indicators are assessed, including indicators of economic growth, unemployment, inflation, foreign economic activity, etc. At the second stage, sectoral indicators are evaluated, like stock indices, indices of production growth, business confidence. At the third stage, indicators of companies included in sectoral stock indices are calculated. The methodology was tested at all three levels of the analysis, and indicators for enterprises representing industries were calculated. Conclusions. The study enabled to assess the signs of sustainability of economic systems, structural changes in the economy, to analyze the anti-crisis policy and sustainability of economic entities.