Development Of Russian Economy Research Articles

On establishing a benchmark crude in the Russian Arctic

The article analyzes the prospects for establishing Russian benchmark crude based on the arctic blend “Vostok Oil” with a price basis in Murmansk. The relevance of the study is conditioned by the importance of the pricing system’s transparency for maintaining a stable macroeconomic situation in Russia, with a leading role of Artic oil and gas potential for Russian economic development. The authors highlight the main signs of the modern pricing system’s crisis and note that amid the imposed anti-Russian sanctions pricing at European spot hubs can no longer reflect the real situation in the Russian oil market. As a result, there is a need to create a national pricing system by developing the Russian benchmark based on the crude oil blend with the dominance of “black gold” from the Vostok Oil project, which has a high-expected liquidity. The port of Murmansk, being distinguished by unique technical characteristics and access to the logistics potential of the Northern Sea Route, is proposed as a price basis and a price hub. The article presents a four-stage model for launching a corresponding futures contract on SPIMEX, which will help improve the exchange trading system for energy resources in Russia and increase the popularity of the Russian Arctic benchmark crude in the global oil market. In conclusion, the authors underline that the creation of a new benchmark and the launch of futures will ensure stability, transparency and independence of Russian oil exports.

The Influence of The Institution of Public Control on The Economic Development of The State

The article is devoted to the analysis of the influence of the institution of public control on the economic development of the state. The role and place of this institution of civil society in the system of legal guarantees for the implementation, protection and defense of both constitutional principles and the system of human and civil rights and freedoms, the rights and legitimate interests of public associations and other non-governmental non-profit organizations is substantiated. The system of factors influencing the economic development of the state is investigated. The place of public control in this system of factors is analyzed. The main directions of the impact of this institution of civil society on the economic development of Russia are being studied. The main problems that hinder the optimization of the processes of the impact of public control on the economic development of Russia are formalized and analyzed, in particular: the lack of formalization of this institution of civil society in the Constitution of the country; failure to include among the principles, goals and objectives of public control those aimed at ensuring the economic development of Russia; on the development in the Russian scientific doctrine of public control of forms, methods and types of public control measures aimed at ensuring, on the one hand, the implementation of the economic rights and freedoms of citizens, economic rights and legitimate interests of legal entities, and on the other hand, the economic development of the country as a whole ; lack of real powers among subjects of public control; their weak economic base; weak use in their work of positive foreign experience in the functioning of civil society institutions in the sphere of control over the apparatus of public power. The authors have developed and justified a system of measures to resolve these problems, including by: formalizing public control in the Russian Constitution; development and consolidation in the legislation on public control of the principles, goals and objectives of public control aimed at ensuring the economic development of the country; organization by the Civic Chamber of Russia of scientific and practical research on the forms, methods and types of public control measures aimed at ensuring the implementation of economic rights, freedoms and legitimate interests of individuals and legal entities, as well as the economic development of the country; expanding the powers of subjects of public control; strengthening their economic base; development of legislation on public control based on positive foreign experience in this area.

Russia's Economic Development Situation and Its Influence on Sino-Russian Economic and Trade Cooperation

This paper aims to analyze the development of the Russian economy and explore its impact on Sino-Russian economic and trade cooperation. Firstly, the paper reviews the historical background and current situation of the Russian economy, with a focus on analyzing the main economic indicators and government policies. Secondly, the historical background, current situation, and cooperation areas of Sino-Russian economic and trade cooperation are summarized, and the opportunities and challenges of cooperation are discussed. Subsequently, the paper analyzes the factors influencing the impact of Russian economic development on Sino-Russian economic and trade cooperation and prospects for future cooperation. Finally, based on the research results, strategies and suggestions for promoting the development of Sino-Russian economic and trade cooperation are proposed to provide reference and support for bilateral cooperation.

Scientific Approaches to Explore the Essence of the Technological Sovereignty of the Economy

On the current stage of economic and geo-political development of the country, that can be characterized by weakening of foreign-economic relations with unfriendly countries, sanctions against Russian economy and blocking the access to import technologies strategically important for Russian production, issues dealing with Russian economy arrival on the advanced technological level become more and more acute. Ensuring technological sovereignty of national economy in crucial industries is a top-priority task for attaining this goal and academic research of technological sovereignty is especially topical today. Thus, the present article studies essential and conceptual characteristics of economy technological sovereignty. By analyzing academic literature the author identified three scientific and practical approaches to understanding the essence of technological sovereignty: technological sovereignty as a component of economic and national security; technological sovereignty as an element of open-type economy; technological sovereignty as a factor of geo-political development and as a level of science and technological development collated with global one. The article shows strategic basis of technological sovereignty in Russia. And finally, the author came to the conclusion that the vector of Russian economy development combined with achieving technological independence of national economy is strategically true.

Impact of IT technologies on Russia's economic development

Impact of IT technologies on Russia's economic development

The Triple Helix Model as a Tool for the Economic Development of the Country on the Example of the Military-Industrial Complex of the Russian Federation

Relevance. The "state-science-business" model has firmly entered the practical sphere of human and social life as a signifier of many socio-economic processes. It is a systematic integrated approach to the consideration of problems exclusively applied areas that will allow them to be solved in the most effective way and in the shortest possible time. The economic sphere has always been considered by the state as one of the priorities, since a steadily developing economy provides ample opportunities for the development of civil society. Over the past few years, the President and the Government of Russia have outlined clear guidelines for the development of the economy, one of which is the modernization of the industrial complex of the state through the inclusion of the state and scientific and technological block in the industrial system. The purpose of this study is to review and analyze the model of interaction "state – science – business" within the framework of Russia's economic development and the long-term plans established by the President of the Russian Federation concerning the modernization of the industrial complex. Objectives: to analyze the international experience of the development of the industrial complex; to consider the features of the formation and functioning of the domestic industrial complex; to study the current state and assess the prospects for the development of the economy and production on the example of the military-industrial complex of Russia. Methodology. The study was carried out on the basis of the general provisions of the system theory and interinstitutional and transinstitutional communication using the system-structural method. Results. In the conditions of the established priorities of economic development at the highest level, it is necessary to: develop internal and external R&D; generate the creation of a new type of university, the ecosystem of which moderates ideas and projects requested by society and the state, releasing them into the real sector of the economy for production and economic development; introduce the university (science) into the business community; form engineering andscientific personnel potential. Conclusions. For the economic development of the country, it is necessary to strengthen the "state-science-business" relationships not only from the perspective of the industrial complex, but also scientific and educational platforms, including through the development of external R&D and their opening on the basis of higher educational institutions.

How are sectors of the Russian economy developing today?

The article is devoted to consideration of issues of economic development in Russia, the features of the contribution of industrial production. The issues of adaptation of the Russian economy to new geopolitical challenges, the organization of innovative economic policy in the Russian Federation and the key factors in restoring the growth rate of the Russian economy are considered.

Effective import substitution programs and services in the context of sanction restrictions in 2022–2023

Subject. This article focuses on the search for alternative models of Russia's economic development and the dangers of disruption of global value chains. Objectives. The article aims to assess the methods and forms of sale of Russian industrial goods abroad in the context of international sanctions. Methods. For the study, I used general scientific research methods. Results. Electronic platforms developed in 2022 provide Russian manufacturers with various opportunities, including the export of Russian-made goods to friendly countries, the redistribution of warehouse balances, and the search for high-quality domestic analogues of foreign industrial products. Conclusions. Large-scale international sanctions against Russia are likely to have a positive impact on the development of industrial enterprises.

Modern Financial Instruments for Ensuring Russia's Economic Development

Modern Financial Instruments for Ensuring Russia's Economic Development

ИСКУССТВЕННЫЙ ИНТЕЛЛЕКТ – УНИВЕРСАЛЬНЫЙ ИНСТРУМЕНТАРИЙ В РУКАХ ЭКСПЕРТА

The article examines the impact of artificial intelligence on the development of the modern Russian economy, industrial enterprises and companies, marketing centers and firms. The authors not only make a narrative review and analysis of the use of artificial intelligence, but also highlight its advantages and disadvantages when implemented in the domestic economy. Banks and scientific manufacturing enterprises and companies were the first to introduce artificial intelligence into their work. Users of mobile applications and systems are almost daily confronted with modern innovations in the banking sector. Today, artificial intelligence is firmly gaining its position and is widely implemented by many large enterprises and companies, as well as small firms. It’s no secret that the future of the economy, banking, insurance, medicine, education, space and other industries lies with artificial intelligence, but you need to use its benefits with great caution, taking into account all the risks.

Living standards as a factor in ensuring the economic growth quality

Subject. This article examines the consumer component of economic growth. Objectives. The article aims to substantiate the need to improve the standard of living of the population of Russia and analyze the quantitative and qualitative characteristics of the standard of living of the country's population and the pace of its economic development. Methods. For the study, we used the general scientific research methods. Results. The article finds that the main factor limiting Russia's economic development is the excessive inequality between the incomes of the poorest and the richest. Conclusions. The article concludes that the investment model of socio-economic growth in Russia has not been formed. The full potential of the entrenched consumer growth model must be realized by expanding the material opportunities of low- and middle-income groups.

Using the Best Available Technologies in the Production of Cement to Reduce Greenhouse Gas Emissions

The article analyzes approaches to reducing greenhouse gas emissions using the best available technologies (BAT) to achieve the strategic goal of low-carbon economic development in Russia. The study focuses on the development of a strategy to reduce greenhouse gas emissions at the regional level, taking into account the contribution of each sector to the total greenhouse gas emissions in the Novosibirsk Region’s carbon balance. Particular attention is paid to the Industrial Processes sector and its impact on climate change, in particular within cement production. Using the example of JSC Iskitimcement, the largest cement producer in the Novosibirsk Region (NSO), direct and indirect greenhouse gas emissions are calculated, and the specific indicators per unit of production for the period 2018–2021 are analyzed. The article presents various BAT, applied in cement production, including the use of non-traditional raw material components, alternative fuels, utilization of waste heat for power generation, and reduction of clinker share in cement, among others. The climate effect of these technologies has been assessed. These studies make it possible to develop strategies to reduce greenhouse gas emissions in the region and contribute to sustainable environmental development.

For Ratio Analysis of the Efficiency of Budget Expenses on Social Policy Aimed at Overcoming Poverty in Russian Regions

The development of methodology for analyzing efficiency is acute today due to fundamental basis of budget system functioning. The last ten years proved the importance of social policy and the welfare system during periods of uncertainty and economic crises. In 2022 the vector of Russian economy development changed from west to east and the country will face a long-term opposition through unprecedented sanctions and challenges to its economy transformation. The article puts forward a simple ratio method of analyzing efficiency of budget expenses aimed at overcoming poverty in Russian regions, systematizes the most frequently mentioned in academic literature methods of researching efficiency of expenses on social policy, investigates the method of analyzing the utmost efficiency and provides conclusions about its low practical significance. The article proposes to use the author’s approach to ratio analysis supplemented with ranking method, plotting heat maps and estimating basic descriptive statistics. Research findings demonstrate its high theoretic and practical value, especially as a preliminary stage of the research within the frames of a complex analytical approach to assessing efficiency of expenses on social policy allotted from consolidated budgets of Russian Federation entities.

Problems of investment support of current economic development in Russia

Aim. To analyse investment activity in modern Russia in the context of new conditions and tasks of the country’s economic development, as well as to identify the directions of its stimulation and development.Tasks. To analyse the current state and prospects of development of the Russian economy in the context of external sanctions; to study and assess the level and features of business investment activity in modern Russia; to propose tools and directions of stimulation and development of investment, considered as a way to restart the mechanisms of economic growth.Methods. The methodological basis of the research was the provisions of macroeconomic theory, in particular such sections as the theory of economic growth, the theory of state regulation of the economy, the theory of investment. The methods of comparative and retrospective analysis, structural modelling, analogy, expert evaluation and qualitative methods of forecasting were used.Results. It has been established that the Russian economy has entered the period of development characterised by high uncertainty of the main influencing factors. This negatively affects the behaviour of economic entities and weakens the potential for economic growth. One of the important factors of growth and sustainable economic development is investment. Despite the external sanctions pressure on the Russian economy, there was no decrease in investment activity in 2022. On the contrary, it has increased. This is a prerequisite for successfully overcoming the current crisis phenomena in the economy and further successful development of the national economy. At the same time, a number of problems restraining the investment activity of Russian business have been identified.Conclusions. In modern conditions, the issues of creating effective incentives to support and develop the investment activity of Russian companies have become more relevant. The relevant measures should be built into a new model of economic policy aimed at creating the potential for long-term economic growth in Russia in post-normal conditions. These measures are related to the activities of development institutions acting as sources of “long” and “cheap” money, as well as to the adjustment of fiscal policy, oriented towards the creation of additional incentives for the growth of investments of economic entities.

Формирование институциональных структур, поддерживающих устойчивое развитие

The most important role in giving stability to modern processes of economic development is played by emerging institutional structures, which are distinguished by their heterogeneity. Against the background of most of them, defined as various norms, rules and agreements, a number of macrostructures stand out, which are more developed institutional structures, mechanisms that ensure the reproduction of competitive behavior and the formation of price signals within the framework of the organization of "green" financing and sustainable development, as well as quasi-market structures providing, in particular, trading in carbon units (quotas). At the same time, strategies for sustainable development in the modern Russian economy should be built taking into account national interests in the context of implementing an import substitution strategy and achieving technological sovereignty.

Economic analysis of the appropriation system

Subject. The Presidential Decree On Establishment of a Coordinating Council under the Government of the Russian Federation to Meet the Needs Arising During a Special Military Operation, published in October 2022, marked the beginning of the Russian economy consolidation in the face of external geopolitical challenge from the pan-American geopolitical world. Russia can survive in this confrontation only through the sovereignization and consolidation of its society and economy. Objectives. The study aims to identify the existing economic alienation that hinders the consolidation of the Russian society. Methods. I employ a formalized description of the State in the broad sense, that is, the State as a country, and a formalized description of economic units of the State, called institutions. Results. The paper describes factor and composite capitals of the State and its institutions. This enables to trace the sequence of the Russian economic process: from the factors of economic creation to the methods of final appropriation of the internal part of institutional profits. In this sequence, I revealed the place where the economic alienation takes place, thus socio-economic disunity and tension are constantly recreated in modern Russia. Conclusions. Consolidation of Russian society requires at least partial overcoming of disunity and easing of tension. This can be achieved by legal transition from the existing individualistic way of appropriating institutional incomes to a fairer collectivist way. In addition to the consolidation of society, the transition to a collectivist method of appropriation may lead to the Russian economy development in its creative part.

Military expenditure and problems of national economic growth: Theory and some macroeconomic conclusions from a special military operation

Subject. The article investigates the systemic crisis of the neoliberal market model and the role of military spending in the Russian economy development. Objectives. The focus is on critical analysis of the current system of national accounts, criteria and parameters for assessing the economic growth. Methods. The study employs methods of statistical and military-economic analysis. Results. The paper shows that the gross domestic product does not reflect the level of economic development of the country, since it does not take into account the results obtained at the intermediate stages of production. Conclusions. If considered, the findings will enable to improve the quality of military-political and macroeconomic forecasting.

Current trends in tax incentives for neo-industrial development in Russia

Subject. This article discusses legislative innovations and taxation measures aimed at stimulating the formation of a neo-industrial model of economic development in Russia. Objectives. The article aims to identify and characterize the current trends in tax incentives for neo-industrial development in Russia. Methods. For the study, I used general scientific research methods, and the methods of economic analysis. Results. The article defines tax incentives, both system-wide and sectoral, adopted to support business and stimulate neo-industrial development in Russia in the context of geopolitical and geo-economic turbulence. The article also describes current trends in tax incentives for neo-industrial development. Conclusions and Relevance. It is necessary to eliminate legal and administrative barriers to the application of existing benefits and the introduction of innovative tax incentives tested and used in developed countries. The results obtained can be used in decision-making on further improvement of the tax incentive mechanism in Russia.

Spatial Organization of Russian Economy in the XVI Century

This article examines the spatial organization of Russia's economic activity in the second half of the 16th century. The spatial division into regions, which differ from other regions in economic organization, is based on the division proposed by Russian historian and economist N.A. Rozhkov. For each such region the author singles out a branch of specialization, determines general factors of national economy development in the 16th century and shows their influence on spatial organization of economy. The author also compares them with economic and historical research of Johann Heinrich von Thünen, who in 1826 offered the theory of rings, or "belts" of spatial specialization. It is shown that such rings began to form in Russia in the 16th century, which became possible due to the active development of domestic trade and the inclusion of large cities in it, which became centers of vigorous trade activity and large markets for agricultural products. This in its turn was possible due to the influence of four essential factors of Russian economic development in the second half of the 16th century: 1) significant development of domestic trade (introduction of "merchant trade records"); 2) growth of quitrent in comparison to metayage; 3) conversion of corvees into monetary taxes; 4) change in money value. The study of spatial specialization of regional economies in the second half of the 16th century shows that in this period of history there was a resettlement of population from the center of the country into more remote regions, which in its turn contributes to diversification of the national economy and economic development of separate parts of the country and the whole country.

GLOBAL INITIATIVESTO PREVENT “CARBON LEAKAGE”: RISKS AND OPPORTUNITIES FOR RUSSIA

Tightening climate policies in some countries brings about a need to toughen them in others. More stringent requirements for national producers of carbon-intensive products within one country, for example, in the form of increased coverage or level of domestic carbon price, stimulates partial replacement of domestic production with foreign analogs from the countrieswith relatively looser greenhouse gas emissions regulation. This phenomenon is referred to as 241“carbon leakage”. This paper systematizes practical and theoretical approaches to combat “carbon leakage” and compares these approaches in terms of possible implications for a long-term social and economic development of Russia. The authors examine exceptions to the general rules of emissions regulation for some vulnerable industries subjected to “carbon leakage”, implementation of cross-border carbon barriers in trade, formation of climate clubs of countries and the introduction of a global minimum carbon price. Specialization in producing and exporting carbon-intensive products leaves no opportunity for Russia to stay aside of thedevelopment of the global system of greenhouse gas emissions regulation. The findings showthat introducing a global minimum price for carbon seems to be the best alternative to the formation of a climate club, which may be established if other countries importing fossil fuels and carbon-intensive products join the EU carbon border adjustment policy.