Entire Russian Economy Research Articles

Assessment of the effectiveness of management at the regional level based on the analysis of the activities of authorities

Relevance. The problem of effective management of regional development is becoming more and more urgent due to the emergence of new conditions (obstacles) of functioning, which pose the task of creating programs for the most effective management of subjects to the regions of Russia and executive authorities. It is important to note the choice of the subject: the Kursk region is an important region of the Central Federal District due to its potential and geographical location.The subject has a specialization in important sectors of the entire Russian economy, but at the same time may face inefficient management, which will cause a decline in the regional economy. The purpose is to assess the effectiveness of management of an economic entity on the example of the Kursk region by analyzing the activities of executive authorities.Objectives: to establish the parameters of effective management; to study regional policy as a means of increasing the effectiveness of regional development; to study methods for assessing the effectiveness of regional development through the prism of actions of public authorities; to compare the economic structures of the Kursk region and neighboring regions of the region using specific methodologies; to identify the main problems in the development of the Kursk region.Methodology. To carry out the research, methods of system analysis and synthesis, statistical data processing, as well as comparative and expert analysis are used. The results of the study include an analysis of the effectiveness of regional policy in the Kursk region and the identification of the main problems in the activities of government agencies that affect the economic growth of the subject.Conclusions. The Kursk Region is an ambiguous region regarding the quality of regional economic management. Studying the state support of subjects, their management by authorities, we can say that in the field of ecology and industrial development, the state supports the region sufficiently, since these areas are specialized in the region, which cannot be said about other areas. Despite the weak development of other industries, the state needs to provide significant support to such specialized sectors as agriculture and industry.

БАНКОВСКИЙ СЕКТОР РОССИИ: АНАЛИЗ ТЕКУЩЕГО СОСТОЯНИЯ

This article provides an analysis of the Russian banking sector. It is noted that it is the most important economic institution for the development of the state. The growth rates of lending in various fields, as well as the growth rates of fundraising, are given. To date, the entire Russian economy has faced external geopolitical shocks, so the issue of adapting different sectors to the realities of the current situation is becoming the most urgent. The role of commercial banks in the economy is difficult to reduce, they are in many ways sources of financing for businesses. This ensures the economic growth of the national economy.

ПЕРСПЕКТИВЫ МОДЕРНИЗАЦИИ НАЦИОНАЛЬНОЙ НАЛОГОВОЙ СИСТЕМЫ В КОНТЕКСТЕ СОКРАЩЕНИЯ МАСШТАБОВ ТЕНЕВОГО СЕКТОРА ЭКОНОМИКИ

The purpose of the article is to find the reasons for the growth of the shadow economy in the Russian Federation, taking into account the prevailing institutional conditions and the role of the state in solving the country’s economic problems, as well as to assess the prospects for minimizing the scale of the informal sector based on existing approaches. The article proves the expediency of modernizing the tax system related to the introduction of information technologies in tax administration, increasing the efficiency of interaction between taxpayers and tax authorities using client-oriented technologies, and ensuring transparency of budget expenditures. In this case, a positive effect will be manifested for the entire Russian economy, and the potential reduction in the scale of the shadow sector of the economy will be an additional synergistic effect.

Development of Human Capital in High-Tech and Knowledge-Intensive Industries

This paper is an overview of sustainable long-term innovative development of the entire Russian economy and its high-tech and knowledge-intensive industries. The authors analysed it under the conditions of the emergence of a digital economy in terms of provision, effective use, and development of human potential. The formation of new mechanisms caused by the influence of globalisation, the transition of the industrial economy to the post-industrial economy and its adaptation to the current digital parameters, as well as the reforms of public administration systems in Russia, led to the emergence of qualitatively new phenomena, requiring research of both fundamental and applied nature.

ФИНАНСОВАЯ ОЦЕНКА УЯЗВИМОСТИ ОТРАСЛЕЙ РОССИЙСКОЙ ЭКОНОМИКИ

In the context of global global instability, the search for development paths is a priority for the entire Russian economy and individual companies. The sanctions imposed against Russia will affect the sectors of the country's economy to varying degrees. In many ways, the complexity of the situation is due not to momentary processes, but to accumulated problems and trends. The established way of life ensured the survival of organizations with varying degrees of efficiency. In recent years, the capital structure of a number of leading sectors of the Russian economy has been characterized by a low level of own funds. For the purposes of the study, the types of economic activities were ranked by the value of the autonomy coefficient and grouped depending on the share of equity capital in the capital structure of organizations. This made it possible to identify a negative pattern: for industries that collectively form about 55% of the added value in the country, more than half of the capital structure is borrowed funds. Analytically identified groups of industries whose activities are most dependent on debt financing. With regard to financially unstable industries, a comprehensive analysis of financial and tax indicators was carried out and it was demonstrated that a combination of low financial stability, insufficient solvency and low profitability makes organizations within these types of activities, on average, highly financially vulnerable when interest rates rise. The article compares the indicators of the tax burden with an emphasis on the share in value added in relation to selected groups of industries. The conclusion is made about the excessively high tax burden on manufacturing industries. The need in the short term for the widespread use of sectoral support measures is substantiated.

Проблемы раскрестьянивания в постсоветской России: гендерный аспект

The article considers the gender aspect of the problem of degradation of peasants (raskrest’yanivanie) in the period of transformations carried out since the 1990s and its consequences. The Russian countryside had and still has a huge economic, demographic and resource potential, the effective use of which largely determines the development of the entire Russian economy in general. Despite the implementation of state and national, regional projects and programs, the authors believe that the modern village continues to be in a state of deep crisis, manifested in the deterioration of demographic indicators, high unemployment rate and reduced quality of life of the total rural population. The authors substantiate that the social crisis has led to the degradation of rural communities and to the deterioration of the status of women.

Злоупотребление правом со стороны потребителя: постановка проблемы и поиск ее решения

Balanced relations between retail market participants largely ensures the competitiveness and stability of the entire Russian economy. Hence, the state pays close attention to consumer protection issues. But, like any sphere of civil law regulation, relations with the participation of consumers are inherently abused, including by the consumers themselves. This article proves in both practical and theoretical aspects that consumer dishonesty is a significant legal problem. The solution of this problem requires not only systematic change in the current legislation, but also a broad public discussion. After all, the modern legal consciousness of the consumer is perceived exclusively as the weak counter party. It is obvious that in such conditions it is a difficult task to realize the existence of this problem and even more so to take real steps to solve. Nevertheless, one cannot remain idle. Consumer abuse of right, being an independent form of abuse of subjective civil right, has its own specifics related to the role and legal status of participants in the legal relations under consideration, so there is an objective need for legislative consolidation of this concept, with which the fight against this kind of behavior should begin.

Author’s factor analysis of the profitability of fixed assets in the construction industry of the Russian Federation

The construction complex of the Russian Federation is one of the largest and most significant sectors of the economy, which largely determines the socio-economic development of the country. The profitability of the construction industry is slightly higher than the average for the entire Russian economy as a whole. At the same time, the financial and economic indicators of the overall business in 2020 in the Russian Federation are significantly lower than their pre-crisis level. In order for any company to function properly, it needs to have certain funds and sources. And the main of these sources are fixed assets. The development of construction, like any other industry, depends on the quality condition and dynamics of fixed assets renewal. The state of fixed assets, in turn, directly depends on the amount of investment directed to their renewal. The article presents the author’s model of profitability of fixed assets. The article describes 10 methods of factor analysis developed by Filatov E. A., which make it possible to draw an accessible and relatively simple conclusion about changes in the resultant indicator. The object of research of the article is the construction industry of the Russian Federation in the context of three main types of construction: construction of buildings; construction of engineering structures; specialized construction works.

The role of personnel in the development of innovative processes of the enterprise

The article examines the role of personnel in the development of innovative processes. The following signs of the innovative potential of employees are distinguished: creativity, initiative, energy, ingenuity, persistence. Human resources at the disposal of an enterprise determine the nature and effectiveness of innovation processes. The most important resource of an enterprise is intellectual capital, not material resources. Unlike conventional assets, human resources as intellectual capital are largely invisible and therefore not reflected in the balance sheet. The organizational culture of an enterprise capable of attracting and retaining innovative workers must meet certain conditions. The factor of human resources is the most important factor associated with the search, recruitment, training, assessment of the effectiveness of employees, their certification and determination of competence and motivation is decisive for the formation of innovative development of the enterprise. The political factor is determined by the style of leadership, the nature of decisions made, the degree of control over orders, methods of punishment and rewards. Symbolic factor - associated with the way of forming a culture, teamwork, used existing values. The paper uses the four-factor model developed by Bolman and Deal to provide an enterprise with a workforce capable of generating ideas and innovating. The interaction of all segments of the innovation process at the enterprise is based, first of all, on personal communication and the generation of ideas by individual employees, which is supported by the enterprise management. In this regard, the personnel component of the innovation process is currently becoming key for the development of not only the analyzed subsidiary, but the entire Russian economy.

Structural factor of reducing interterritorial inequality in the post-Covid period

Carrying out large-scale structural transformations of both the entire Russian economy and its individual actors is one of the most important tasks of the current stage of national development. The urgency of this problem has increased dramatically during the COVID-19 pandemic. The purpose of this paper is to identify the most significant factors in the pandemic that affect the economic growth of Russia’s regions and reduce territorial inequality. The use of methods of comparative and economic-statistical analysis made it possible to establish that the most important independent factor in the development of a region is the structure of the economy and such a factor that ensures it as the regional structural (industrial) policy. It has been substantiated that structural modernization is the basis for pursuing a non-contradictory short- and long-term policy to reduce interterritorial inequality. A particularly negative impact of the pandemic on regions with a low level of development of the real sector and overdevelopment of the service sector has been revealed.

ПЛАТФОРМЫ ДЛЯ РАЗВИТИЯ ФИНАНСОВОГО РЫНКА В УСЛОВИЯХ ЦИФРОВОЙ ЭКОНОМИКИ

Significant changes taking place in the economic life of the state and society are associated with the active and widespread development and spread of the digital economy. The Internet, personal computers, smartphones, mobile communications, artificial intelligence, robotics and much more have become an integral part of the life of our society. The digital economy development has a significant impact both on the economy as a whole and on its individual segments: the engineering and technology development is accelerating, the boundaries between various fields of activity are blurring and significant changes in the activities of enterprises and workers are taking place. Thanks to digitalization, it became possible to identify various risks which are associated with activities and which can have a negative impact on the development of the entire financial market. One of the markets actively involved in the development of digital technologies is the financial market, which is a combination of the credit, investment, insurance, and stock sectors. In fact, the financial market is a significant indicator of the state of the entire Russian economy. In connection with the above, it is not accidental in the strategy of the Bank of Russia that it strives to develop platforms for the “digitalization” of the financial market. The development of platforms is necessary to create a competitive and trusting environment in the financial market, to maintain its stable financial condition, as well as to ensure the capital and financial services availability. In addition, the development of such platforms provides significant economic and financial benefits for variSignificant changes taking place in the economic life of the state and society are associated with the active and widespread development and spread of the digital economy. The Internet, personal computers, smartphones, mobile communications, artificial intelligence, robotics and much more have become an integral part of the life of our society. The digital economy development has a significant impact both on the economy as a whole and on its individual segments: the engineering and technology development is accelerating, the boundaries between various fields of activity are blurring and significant changes in the activities of enterprises and workers are taking place. Thanks to digitalization, it became possible to identify various risks which are associated with activities and which can have a negative impact on the development of the entire financial market. One of the markets actively involved in the development of digital technologies is the financial market, which is a combination of the credit, investment, insurance, and stock sectors. In fact, the financial market is a significant indicator of the state of the entire Russian economy. In connection with the above, it is not accidental in the strategy of the Bank of Russia that it strives to develop platforms for the “digitalization” of the financial market. The development of platforms is necessary to create a competitive and trusting environment in the financial market, to maintain its stable financial condition, as well as to ensure the capital and financial services availability. In addition, the development of such platforms provides significant economic and financial benefits for various participants in the financial market, which will positively affect the entire economy development.

ПРОМЫШЛЕННАЯ ПОЛИТИКА В АРКТИКЕ:НОВЫЕ ПРИОРИТЕТЫ ФЕДЕРАЛЬНОГО УРОВНЯ

The most important drawback of the modern Federal industrial policy in the Arctic is its narrow character, focused on serving the interests of large resource corporationsand attracting private investmentыin the Arctic. The task is to radically reformatethe industrial policy to make it a real factor in the innovative modernization of the Arctic and the entire Russian economy. For the innovative development of the economy of the country and the Arctic, it is not enough to attract new investments in the Arctic, it is necessary for the state to act as an active coordinator, uniting resource corporations, the scientific and educational complex of logistics development bases, machine-building enterprises of the main settlement zone, and forming an innovative “triple helix” system. In this case, the effects of new resource projects will work for economic benefits of domestic manufacturing enterprises and the entire Russian economy rather than for foreign subcontractors.The concept of an interregional innovation system is introduced as an object of the new industrial policy in the Arctic. Its core is the mining platform of the new resource project, integrated into local and national research and production networks.The essence of the new Federal industrial policy in the Arctic is determined by the need to accelerate positive structural changes in the mining sector of the Arctic economy and in the manufacturing sector of the Russian industry.Keywords:Arctic industrial policy, interregional innovation system, subcontracting of resource company with small businesses of the major development bases of the Arctic, intersectoral relations of the Arctic resource companies and manufacturing enterprises of the developed zone of Russia.

Identification of a Production Function with Age Limit for Production Capacities

The microlevel dynamics of the age-limited production capacities differentiated by the moments of creation set the macrolevel production function. The microdescription is based on the hypothesis of the capacity loss at a constant rate and constant number of jobs from the moment of the creation of the production unit to its closure, when the age limit is exceeded. An analytical expression for the endogenous production function with the given maximum age of the capacities is obtained in characteristic exponential growth modes with the constant share of new capacities. A transient growth mode with varying incremental capital intensity of new capacities is considered. The production function’s parameters can be determined even with significant variations of the new capacity’s share in the total capacity, which occurred in the Russian economy. For this purpose, the initial microeconomic model of the production capacity’s dynamics is used in the numerical calculations of the production function. The parameters are estimated indirectly based on a comparison of the results of the calculations by the model with the statistical data over 1970–2017. The obtained value of the average age limit of capacities A = 25 for the Russian economy explains the vanishing of cost inflation in 2017. The identification of the endogenous production function parameters also show that the value of the average incremental capital intensity for the entire Russian economy decreased significantly from 1970 to 2017. The decrease is explained by the increase in the share of the primary industry in the output.

Agricultural exports from Russia to Asian countries: Analysis of prospects and trends

The recent recovery in Russian agriculture is due not only to the producers support from the State, but also to an increase in the production of foodstuffs substituting the imported ones. This was a result of negative foreign policy factors, and now further promising guidelines for Russian agriculture are expected to be developed by the government. The article is relevant due to the fact that the expansion of agricultural exports is a strategically important task for the entire Russian economy. The article analyzes the dynamics of agricultural production in Russia by farm categories over the past 19 years, as well as the production of main types of import-substituting foods for 2017-2018. The main agricultural exports to the Asian countries are identified and grouped. The current state and the possibility of a potential increase in exports of agricultural products by sectors of agro-industry have been studied. On the example of priority agro industries, ensuring the strategic expansion of exports to Asian countries, the current financial and economic state of the largest agro-industrial enterprises has been studied using special indicators of the SPARK system (system of professional analysis of markets and firms in Russia). The analysis showed that more than 90% of companies fall into the low-risk group by composite risk indicator, which is undoubtedly a positive development. This increases the likelihood of these entities stable development and the growth of their exports to Asian countries.

Agricultural exports from Russia to Asian countries: Analysis of prospects and trends

The recent recovery in Russian agriculture is due not only to the producers support from the State, but also to an increase in the production of foodstuffs substituting the imported ones. This was a result of negative foreign policy factors, and now further promising guidelines for Russian agriculture are expected to be developed by the government. The article is relevant due to the fact that the expansion of agricultural exports is a strategically important task for the entire Russian economy. The article analyzes the dynamics of agricultural production in Russia by farm categories over the past 19 years, as well as the production of main types of import-substituting foods for 2017-2018. The main agricultural exports to the Asian countries are identified and grouped. The current state and the possibility of a potential increase in exports of agricultural products by sectors of agro-industry have been studied. On the example of priority agro industries, ensuring the strategic expansion of exports to Asian countries, the current financial and economic state of the largest agro-industrial enterprises has been studied using special indicators of the SPARK system (system of professional analysis of markets and firms in Russia). The analysis showed that more than 90% of companies fall into the low-risk group by composite risk indicator, which is undoubtedly a positive development. This increases the likelihood of these entities stable development and the growth of their exports to Asian countries.

Western-style capital market reforms in Russia: Implications for market efficiency and firms’ financing decisions

Over the past decade, the Russian government implemented numerous reforms aimed at attracting investor capital and improving the capital market conditions. These reforms included adoption of stringent listing regulations and governance norms, revisions in the tax and ownership laws, restructuring of the major stock exchanges, and more importantly, adoption of International Financial Reporting Standards (IFRS) in 2011. We employ an adaptive market hypothesis (AMH) perspective formulated by Lo (2004, 2005) to examine whether the informational efficiency of the market changed over time as a result of these reforms. While we report that the Russian stock market is still not weak-form efficient, as it was before the reforms, we find the evidence of improvement in efficiency over time. Next, we find that financing decisions of Russian public firms changed following adoption of IFRS when financial statements became more transparent and better aligned with informational needs of local and foreign investors. Particularly, Russian companies that adopted IFRS were more likely to raise finance via issuance of equity rather than debt instruments, whereas for non-adopters there was no change in the firm capital structure. Finally, we report that there was an increase in the inflow of foreign direct investments (FDI) in the post-reform period, suggesting that the above noted reforms conferred significant benefits to the entire Russian economy.

Institutional Rent in a Multilevel Economy

At least a three-level hierarchy of sectors in the Russian economy, which has formed over the past 15–20 years, is justified. Significant differences in their institutional conditions lead to the formation of an institutional rent that allows sectors of higher hierarchical levels gain additional incomes. The origins of the institutional rent, factors of its increase, and channels of appropriation are determined. It is shown that the “discrimination” of some sectors by other sectors is stable and has serious downsides for each sector, as well as for the entire Russian economy. Approaches to quantitative estimates of the significance of effects associated with the discrimination of institutional conditions in the highlighted sectors of the Russian economy and recommendations to level out the negative effect of this institutional heterogeneity on economic growth will be given in the following articles.1

Economic Security of Regions

The urgency of the problem under investigation is caused by the need of regions (subjects of the Russian Federation) for economic security. In the conditions of the crisis, the recession in the economy, social problems in the regions of Russia are aggravated, the standard of living of the population is decreasing, and the tension in the labor market is increasing. To mitigate the negative factors affecting this, it is necessary to take decisions aimed at improving the structure of the regional economy, supporting certain industries, spheres, and attracting investments. This is all to ensure economic security. The purpose of the article is to develop recommendations of the region (subject of the federation) on the example of Perm Krai to ensure economic security. The leading methods of research of this problem are the analysis of theoretical sources, statistical analysis, comparison, SWOT-analysis. Statistical analysis occupies the most important place, since data on the economy state and social sphere of the region can be directly obtained from statistical databases. This article presents the main approaches to the concept of economic security in the region, defines the components of economic security, and compares the economic security of Perm Krai and a number of other regions. It was concluded that the economic security of Perm Krai is rather weak, which is connected with the influence of negative factors of the external environment (typical for the entire Russian economy in recent years), with unresolved problems in the region, which increase the negative influence of environmental factors. The materials of the article are of practical value for the organization of public administration at the regional level (at the level of the subject of the federation in Russia or at the level of regions in other countries), for making decisions related to ensuring the economic security of the region.

Start-ups in the field of social and economic development of the region: a cognitive model

The article considers the factors influencing regional development on the part of start-ups, shows a cognitive model of such impact, and gives an analysis of scenario modeling in the Samara Region. The research results are aimed at creating favorable conditions for ensuring the progressive development of a single region and the entire Russian economy. To implement the goal, studies were carried out in the form of an expert survey aimed at assessing the impact of start-ups on regional development. The study included methods of systemic analysis, economic statistics, methods of sociological expert survey, a method of statistical data analysis, a method of qualitative peer review, and a method of cognitive modeling. The article presents the results of scientific research aimed at identifying the mutual influence of the basic factors of regional development and start-ups as an important element of the socioeconomic system. The works of many scholars are devoted to the analysis and research of the problem of innovative entrepreneurship. They reveal the aspects of studying innovative entrepreneurship in the context of improving the effectiveness of innovative activity and motivating entrepreneurship. This study highlights the importance of start-ups for the formation and development of effective regional innovation systems and actualizes investigations related to identifying the main directions in the activities of the region's start-ups. A comparative analysis of the scenarios was carried out and the most effective of them were determined for the Samara Region. The presented research results can be transferred and reproduced in any constituent entity of the Russian Federation. The obtained cognitive models can be used as basic models to back up large administrative decision-making in the field of managing the regional infrastructure for supporting small and medium-sized businesses to improve its adaptability to changes in external and internal factors and to determine the trajectories of sustainable development. In addition, the obtained models can be applied in the field of fundamental research on the functioning and development of regional socioeconomic systems, as well as in applied research in modeling options for sustainable development of regional socioeconomic systems.

April Sanctions: Implications for the Russian Economy

On 6 April 2018 the United States imposed new round of sanctions against 15 Russian companies and 26 businessmen and public officials. Such a wave of sanctions creates problems for the entire Russian economy let alone certain sectors.