Sectors Of Russian Economy Research Articles

Tools for development of the Russian electric power industry in the current realities

Electric power industry is one of the most important sectors of Russian economy that satisfies the needs of the country’s population, companies of various areas of economy in electric and thermal energy and supplies it for the CIS and Non-CIS countries. Due to this, it is significant to study the tools for development of Russian electric energy industry in the current realities, and this is the basis of the article. The purpose of the article is to study the modern tools for development of electric energy industry and work out the recommendations on their improvement. The following aspects are considered as the main tools for development of electric energy industry: interconnection of electric grid resources, carbon neutrality, legislative acts, digital technologies, financial instruments aimed at attracting investment, accumulation systems (portable sources of electricity), electric transport, and green energy. The methodological basis of the research is the analysis of scientific publications and Internet resources, synthesis and generalization of the data acquired. The authors of the study have analyzed the most significant tools that can be used to develop the electric energy industry in the current situation, and worked out the recommendations on improving the effectiveness of their implementation. To provide a full-fledged solution of the tasks set in the article the authors have analyzed the dynamics of the electric energy industry, identified the basic principles of its development, the peculiar features of their implementation, worked out the opportunities and recommendations for their improvement. According to the results of the study it has been suggested to establish a new institute – a specialized international innovation centre of electric energy industry which will ensure attraction of investment, formation of effective cooperation with friendly countries and development of green energy industry. The authors have identified the tools providing for the development of electric energy industry in Russia, worked out recommendations on their improvement, suggested a new institute of financing and development of electric energy industry. The results of the study in hand can be used in the activity of the companies involved in electric energy industry and further research on the topic.

Today’s Trends of Software Product Import-Substitution in Conditions of Economy Digitalization

Today software import-substitution in spheres and sectors of Russian economy is a priority trend in state programs being realized in the Russian Federation. The author analyzed governmental decisions concerning software import-substitution, studied software introduced in substituting foreign software at enterprises of Russian economy, showed its developers and prospects of its development. Apart from that, the article underlined that by 2025 according to state programs home-made software shall be used by organizations related to entities of critical information infrastructure such as banking sector, missile and space industry, military-industrial complex, nuclear and mining industry, public health service, science, iron-and-steel making and chemicals industry. At the same time import-substitution policy in general promotes upgrading of the payments balance structure, development of the academic sector and innovation technologies, growth in effective communication with developers of economic projects, where software is functioning, increase in the level and diversity of means and methods of information security, technological independence, population employment, cutting risks and raising competitiveness of industries and sectors of Russian economy. In line with numerous positive moments import-substitution policy demonstrates such drawback as closeness from some innovation of global economy. However, in conditions of sanctions the development of our own software, its efficient use in economic entities can provides cyber-security and technological independence.

On approaches to designing the meanings in the economy of services of the infrastructure sector

Subject. The article investigates issues of creation and distribution of material wealth, the role of spiritual values in modern society. Objectives. The article aims at the analysis of consumer behavior model, rethinking K. Marx’s economic theory, taking into account modern economic realities. Methods. We apply methods of systems analysis. Results. The study establishes that in the modern economy, the share of services, which do not create new value, has increased. Conclusions. The findings can be used for designing programs to develop production and non-production sectors of Russian economy.

Energy georesources and personnel training

Background. The dominant role of energy georesources in the mineral resources sector of Russian economy is considered. Achievements in this sector are determined by the quality of human capital. Successful implementation of the Strategy for the Development of the Mineral Resource Base of Russia until 2035 requires improved personnel training in the higher education system according to new educational programs in the disciplines of Applied Geology and Mining.Aim. Assessment of the current state of the mining and geological industry in Russia, as well as its methodological and technological basis as an objective indicator of the economic and social development of the social system.Materials and methods. Expert evaluation of the activities carried out by the Federal Subsoil Resources Management Agency in the direction of the geological study of energy resources.Results. The conducted analysis of the sustainability of the mineral resources sector in the era of globalization and Russia’s historical experience of creating the uranium industry shows the need to further develop the nuclear energy sector. This process requires modifications in the engineering geological education to revive Russian traditions of training specialists in the field of uranium mining and treatment.Conclusion. The prospects for increasing the mineral resources base of energy carriers and creating conditions for providing the country with energy raw materials should be supported by joint efforts of educational institutions and employers in the system of training geologists.

Ensuring the investment attractiveness of Russian regions under the influence of international sanctions

Scientists and analysts have been studying the investment attractiveness of Russian regions for a long time. In order to be able to predict the development of regional economy and assess its prospective growth or possible stagnation, it is necessary to assess the investment activity in the country and the investment attractiveness of its subjects. The problem raised is quite relevant at the present time, since most often the main criterion for an investor when determining an investment object is the return on investment, which should be comparable to the level of possible risk from investing capital. Investment attractiveness of Russian regions in 2020-2021 grew, demonstrating a positive trend of change, despite the consequences of the protracted pandemic and the international sanctions imposed in 2014 by the EU and the USA. However, the unprecedented international sanctions imposed by Western countries in 2022 require the development of new strategic decisions, both at the federal and regional levels of government, to ensure the transformation of socio-economic course of development and ensure the investment attractiveness of business entities. The current problem of import substitution in many sectors of Russian economy is also relevant in the investment sphere, first of all, it requires a reorientation of investment flows towards domestic economic entities. In this article, we will consider the issues of the formation of investment attractiveness and the investment climate in the regions of the Russian Federation under the current international sanctions. The destruction of a large economic system always has a negative impact on its investment attractiveness. In this regard, it is advisable to consider the factors of external and internal orientation that affect the investment attractiveness of the region, as well as assess the favorable and negative impact of these factors.

The Role of Small Manufacturing Enterprises in Innovation Development of the Real Sector of Economy: Economic and Statistical Study

The aim of the economic and statistical study presented by the authors is the evaluation of the role of small manufacturing enterprises in innovation development of real sector of Russian economy. Compared to developed countries, Russia is characterized by a relatively low innovative activity of small industrial enterprises, as well as by their smaller contribution to employment and to the increase of living standards of the population. At the same time, small industrial enterprises have the highest potential for innovation growth, especially in high-tech economic activities. The similarity of small enterprises’ definition in Russia and in the European Union, the magnitude of innovative activity of small enterprises in Europe, and the development of instruments to support innovative companies make studying the European experience in stimulating the innovative activity of small enterprises in the real sector of the economy in order to adapt it to domestic practice relevant.The authors reveal the potential areas of innovative activity growth for small manufacturing enterprises on the basis of foreign experience as well as develop recommendations on support for small entrepreneurship in industrial sector. The research is based on Community Innovation Survey (CIS), national reports of European countries on the topic, the federal statistical surveys № 4 and № 2-MP provided by the Federal State Statistics Service.The study revealed key drivers of European small enterprises’ innovative activity: well-developed cooperation with other organizations, substantial investment in R&D, broad coverage of small business enterprises with support measures. Best European practices of small enterprises’ innovative activity and the analysis of the main barriers of Russian small enterprises’ innovative activity allowed to define the promising directions for supporting small business the real sector of economy of Russia: developing modernization programmes for enterprises, extending the access to borrowed financial sources, developing cooperation ties between small business enterprises. The authors highlighted growth points of innovative activity of small manufacturing enterprises that can be taken into account while developing support measures in order to increase small business’ innovative activity, create new jobs and provide population employment.

Localization of the production: international experience and imperatives of russia in the conditions of sanctions regime

This article is dedicated to the study of production localization problem which became especially topical in conditions of new challenges characterized by the unprecedented strengthening of sanctions regime towards Russian economy and predetermining the necessity to create national manufacturing chains of full cycle, reconfiguration of the sectoral policies, transformation of business models in context of strategic goals of the import substitution. The purpose of the article is to generalize and evaluate international experience of localization of production, as well as to analyze the state of this process in the branches of the Russian manufacturing sector, which since 2014 has been under the action of the blocking and sectoral sanctions of the collective West. In the research process, a complex of general scientific methods was used, including: analytical, logical, monographic, interpretation, synthesis, as well as a method of graphical visualization. Methodological base of the study includes the set of classical and neo-classical concepts of the spatial organization of the economy, theory of innovative growth and cluster development. Fragmentary overview of production localization international experience is given. We have carried out analysis of mechanisms of the state industrial policy, contributing to the problems solution of the localization and import substitution, taking into account strategic priorities of Russia. The advantages of localization in practice of special investment contract (SPIC) conclusion were systematized. Its sectorial features in automotive industry, power engineering industry and aircraft building were stated. We have made a conclusion about the necessity of forming of effective localization strategy, overcoming of declarative character of import substitution in the key spheres of real sector of Russian economy which will help to solve the problems of national security provision and technological independence. Practical significance of the results of the study consists in the possibility of its use in the sphere of program and project management and development of strategies of national and regional levels development.

Global and Russian Market of Chemical Products: Key Trends of Development

Chemical industry is one of the leading and most essential spheres of economy. The article studies specific features and makes a comparative analysis of chemical industry production in Russia and the world, analyzes the structure of trade turnover according to Clause 6 of the uniform goods nomenclature of the foreign economic activity in the Eurasian Economic Union. Key challenges and prospects of development of this industry were identified. To make a comparison the author studied international chemical industry including hundreds of companies working with prospecting, treatment and distribution of gases and with the development of the most complicated organic chemicals used for pharmaceutical preparations. Russian chemical industry possesses resource potential for development but current problems hinder its progress. The major reasons are the following: the shortage of Russian competitive chemical equipment, expensive renewal of existing outdated capacities. At the same time it is possible to mention a low level of research and technical and HR potential of the industry. The author proposes approaches to the development of home chemical industry to provide a growth in output and a rise in competitiveness of this sector of Russian economy on the global level.

Assessing the need for and the scope of import substitution: a volumetric-structural model

The article examines the problems of the development of high-tech industry in Russia in the context of import substitution. The need for the use of imported finished products, equipment and related technologies in domestic production is evaluated. The author thinks it advisable to introduce three main groups of indicators for assessing the dependence on import in various sectors; a volumetric-structural model is proposed to assess and monitor the dependence of industries on foreign components; for this purpose, the measures for the creation of single information space are specified. The article also contains a methodology that describes the mechanism for determining the appropriate levels of import dependence and distributing the sectors of Russian economy into criticality groups.

Current Financing Trends of Innovation in Agricultural Sector of Russian Economy

Current Financing Trends of Innovation in Agricultural Sector of Russian Economy

GLOBAL EXPERIENCE IN THE USE OF "GREEN" TECHNOLOGIES

The article considers the experience of using "green" technologies in various branches of the economy. World practice shows that introduction and subsequent use of "green" technologies increase the efficiency of a particular branch of the economy. At this, the direction of development and the scope of using "green" technologies differ in different countries. Among the predominant areas of using "green" technologies, it is necessary to mark the construction sector, development of renewable energy sources, infrastructure projects, agriculture. Based on actual data, the predominant role of "green" technologies in the scenario for the development of most foreign countries' economies is shown. "Green" technologies in the world practice have become one of the promising directions in development of most branches of economy. The urgency of using "green" technologies in the Russian economy is caused by the fact that against the background of worsening environmental problems, increasing economic tension, the "green" vector of development will make it possible to solve not only environmental, but economic and social problems as well. The analysis of world experience in the use of "green" technologies in various fields of economy gives the opportunity to consider the "green" vector as one of the priority directions for the development of many sectors of Russian economy.

Factors of technological development of the Northern Sea Route

The article is devoted to the issues of technological development of the Northern sea route (NSR). The purpose of the study is to justify the need to create conditions for the technological development of the shipping line, which is a priority, large-scale and commercial project of Russia that provides economic growth of the Arctic regions and the Russian Federation itself. To make NSR the effective in near future, it is necessary to focus on the development of the Arctic icebreaker fleet, satellite communications, emergency rescue facilities, port fleet and digital technologies. As a result of research authors consider factors of technological development as elements of the driving force of the NSR project and an ecosystem of technological innovations that ensures the constant functioning of the shipping artery. The authors deem the following areas as key factors of the NSR’s technological development:1. Formation of innovation-territorial clusters of enterprises focused on projects for the development of the Arctic Zone of the Russian Federation (AZRF).2. Creation of special economic zones (SEZ) of technical and innovative type in the administrative centers of the Arctic regions.3. Stimulating demand for innovative technologies.4. Building a system of effective international cooperation.5. Tax incentives for business in the Russian Arctic.Main conclusions of the research. Technological innovations’ usage in development of the NSR will speed up the process of creating an effective and reliable engineering infrastructure, ensure the uninterrupted movement of ships, will give a powerful push and an extra boost to the sectors of Russian economy (shipbuilding, radio electronics, new materials, oil and gas equipment, etc.) and, as a result, it will create favorable conditions for public - private investment inflow in these industries and for the economy of Arctic regions.

Пандемия COVID-19: реакция российских предприятий и вызовы для посткризисного развития

The paper examines the impact of the COVID-19 pandemic and the economic crisis caused by it on the activities of firms in six sectors of the Russian economy. On the basis of a series of 45 in-depth interviews with the heads of companies and business associations and Russian and international industrial statistics, we show the reaction of enterprises to the crisis and changes in their models of behavior, as well as differences in the forms of communication between government and business in different sectors of Russian economy. Paper shows that key problems faced by firms in 2020 were emerged before the pandemic. During the crisis better performance was demonstrated by firms which before made significant investment in technological development and used digital technologies. Broad application of distant employment model in 2020 led to aggressive HR policy of large firms from Moscow and St.Petersburg in regional markets and increased competition for high-qualified workers. Sectoral associations played important role as representative of collective interests of business in negotiations with authorities. In the conclusion paper discusses the challenges for business and state in the post-crisis development.

ФЕНОМЕН ФОРМИРОВАНИЯ И ФУНКЦИОНИРОВАНИЯ ИНТЕГРИРОВАННЫХ СТРУКТУР АГРАРНОГО СЕКТОРА ЭКОНОМИКИ РОССИИ

Purpose: to study the features of formation and fragility of the functioning of integrated structures of the agrarian sector of the Russian economy. Materials and methods: the methodological research apparatus is based on a comprehensive economic analysis of the financial and economic activities of five backbone integrated formations of the agricultural sector. In order to explain the phenomenon of formation and development of large integrated structures, the data of the annual financial statements of the studied farms were used. Results: the result of the search for alternative forms of inter-farm relations coordination in the agricultural sector of Russian economy was the development of large integrated structures. In the course of the study, their spatial expansion across the territory of Russia was revealed. The economic feasibility of the development of large innovative formations in pig and poultry farming has been substantiated. Particular attention is paid to the mechanism of state support distribution based on market concentration ratios determining the volume of budget allocation for large agribusiness and the Herfindahl-Hirschman index. On the example of the leading backbone agrarian formations, freely adapting to changing economic conditions, the shortcomings of large-format business explaining the phenomenon of their functioning fragility are revealed. In particular, the business capitalization ratio proves the fact of a serious debt load on farms, liquidity ratios demonstrate a low level of their solvency, which in general negatively affects the financial well-being of the largest players in the agricultural market. Conclusions: it is proved that the financial well-being of large integrated formations development is the result of tight belts of farmers, without which it is impossible to obtain credit resources and active government support, which in the mid-run won’t ensure the effective functioning of agricultural production.

Evolution of the Development of the Public Sector of Economy: Domestic and Foreign Experience

The article examines the process of the formation and development of the public sector of Russian economy in the historical retrospective. The main stages of the systemic transformation of the elements of the public sector in certain historical conditions are highlighted. The features of the formation of a corporate model of the public sector at the present stage of the evolution of Russian economy are determined in the article. The authors pay attention to the substantiation of the growing role of state corporations in the structure of the state sector. Along with the study of evolutionary processes in the public sector of Russian economy, the article examines the foreign experience of leading countries in this aspect. Specifically, the features of the evolutionary transformation of the public sector in countries such as Austria, France, Germany, Greece, etc. are considered by the authors. In the recent history of Russia, three main stages of the systemic evolution of the public sector are identified: formation (1991–2007), transformation into a corporate structure (2007–2014), stabilization (2014–2019). The article explores the characteristics of each stage. The research results can be used in the development of the theory of the public sector, determination of the features of its evolutionary transformation, as well as in practical sense, in the development of concepts and strategies for the growth of public corporations in the long term, increasing the efficiency of leading public sector enterprises, as well as their competitiveness in global competition.

The Significance and Role of the Public Sector in the Development of the Modern Russian Economy

The article examines the features of the public sector functioning, determines its role and importance in the development of Russian economy. Ensuring the performance of important socio-economic functions, public sector enterprises operate in strategically important sectors of economy, participate in job creation, produce goods and services, and contribute to the GDP growth. State-owned enterprises and corporations provide significant benefits to society, ensure the country’s defense capability. The authors analyze the functioning of the state sector of Russian economy, consider the structure of Russian enterprises and organizations by forms of ownership. The development of the state sector of Russian economy is investigated according to individual indicators, including the share of fixed assets of state property in all fixed assets, the average annual number of employees, the amount of investment in fixed assets of public sector enterprises. It is shown that taking into account only quantitative indicators does not reflect the full scale of the public sector of economy, and does not consider the output of large state-owned enterprises and corporations. An important role in the formation of modern Russian economy is played by the activities of state corporations, the key development indicators of which influenced the functioning of the public sector as a whole. By ensuring the performance of the reproductive, stabilization, innovation and investment functions in economy, state corporations support the development of strategically important sectors of national economy. Based on the results of the analysis of investment activities of large enterprises with state participation, conclusions are drawn about the need for the presence of these economic entities in the structure of national economy. It was revealed that the public sector of economy takes part in maintaining the economic security of our country, individual regions, thereby increasing the competitiveness and the level of well-being of society as a whole.

The energy industry in Russia: assessment of the state, problems and prospects

An assessment of the state and the problems of the development of the energy sector of Russian industry, which plays an important role in ensuring both the country’s energy and national security, are presented in the article. In the course of the analysis, a number of positive aspects were identified that characterize the increase in the efficiency of the research industry, namely, there has been an increase in labor productivity, overall savings in energy resources used for own needs have been noted, and environmental profiles of enterprises have improved. However, along with this, a number of negative trends are revealed, the most significant of which authors consider to be: the growth of unprofitable enterprises, the decrease in solvency and current financial stability due to the significant exposure of the industry to opportunistic and seasonal fluctuations, as well as the persistent negative impact of the industry on the environment. An important feature of the energy sector of Russian economy is the lack of positive dynamics in increasing renewable energy sources in the total volume of its production, which does not allow talking about a significant increase in environmental security in this industry. The authors associate the perspective directions of the Russian energy sector development with the need to increase the share of renewable energy sources, and the development of the industry using traditional sources should be based on the interconnection of three important components: economic feasibility, resource endowment, and environmental acceptance.

Compiling Investment Attractiveness Rating of the Largest Russian Companies Using Minimax Approach

Purpose of research.The actuality of the problem of the integrated (complex) assessment of investment attractiveness of large Russian companies is due to the need of increasing production volumes and improves processing technologies of the largest sectors of the Russian economy, as well as the requirements of the accelerated growth of high-tech exports. The purpose of this study is to develop rating of investment attractiveness of companies using minimax approach and hierarchical data analysis. Decision about share structure of investment distribution contributes to the implementation of important knowledge-intensive projects for the development of major industry companies. Integral rating of companies plays a leading role in making investment decisions. Research hypothesis of the minimax approach application and hierarchical data analysis will allow developing an intelligent computerized system that will perform real-time calculations and make recommendations on share distribution of investments of the largest Russian companies using a hierarchical rating procedure and minimax approach.Materials and methods.Currently, methodological tools for rating of investment attractiveness of the largest Russian companies are at initial stage of development, although the relevance of such studies in world practice has reached the highest level, thanks to leading rating agencies that have their own methodology and justified methodology for rating companies. Until middle of 2017 when developing investment strategies for the development of Russian industry giants, the opinions of the international rating agencies of “big three”: Standard & Poor's, Fitch Ratings, Moody's and experts of Forbes magazine were taken into account. However, due to reduction in the activity of foreign expertise in Russia, it became necessary to develop and implement its own rating methodology for assessing the investment attractiveness of companies. Current rating approach (accredited Agency Expert RA), as well as young and promising rating agencies need new and mathematically sound approach to compile rating, which optimizes investment process for the most important high-tech projects by priority indicators and industry sign companies. Author's methodology is based at analysis of statistical indicators of companies in the most important sectors of economy. The important feature of the developed method is using author's mathematical apparatus, including a hierarchical analysis of the ranked indicators of financial-economic activity of companies according to their priority and application of minimax approach to obtain rating of companies based at industry characteristics.Results. Method developed in the paper is based at logical rules of grouping companies, allows obtaining rating of companies and rating of leading Russian industries, which companies were considered in data analysis. By using obtained ratings and minimax approach, the rating of investment attractiveness of the companies is made (taking into account industry affiliation). Proposed method has scientific novelty, due to hierarchical procedure of ranking indicators and minimax problem. More that author’s method allows obtaining rating assessment of investment attractiveness of companies, taking into account industry characteristic. In this paper, computational experiments were performed, which used indicators on volume of output and profit of the largest (by volume of output) companies in Russia. Computational experiments have shown the leading role of oil and gas and banking companies in Russian economy.Conclusion. The practical use of the developed method of integral ranking of companies allows optimizing process of allocation the investment resources and contributes to expansion of production of high-tech products produced by leading companies of the most important sectors of Russian economy. Proposed method is advisable for using in investment strategies for the development of high-tech projects. Efficiency of the developed rating of Russian companies has been demonstrated at practice of assessing the largest Russian companies; results are complemented, expanded and enriched by existing research of specialists and leading rating agencies. The author recommends using presented tools for optimization the investment resources for development of the most important industry companies in Russia.

Эмпирический анализ механизмов международной налоговой конкуренции между Россией и зарубежными странами (An Empirical Analysis of the Mechanisms of International Tax Competition between Russia and Foreign Countries)

Russian Abstract: Работа посвящена эмпирической проверке гипотезы о влиянии налогов на решения иностранных инвесторов. На основе эмпирической модели, предложенной авторами, рассматривается влияние налоговых факторов на решения иностранных инвесторов о выборе секторов российской экономики. Авторы делают вывод о том, что присутствуют предпосылки для международной налоговой конкуренции в условиях характерных для российской экономики. English Abstract: This paper is devoted to the testing of the empirical hypothesis about impact of taxation on the decisions of foreign investors. We use empirical model suggested by the authors in order to assess the impact of tax factor on the decisions of foreign investors choosing sectors of Russian economy as object of investment. Authors make conclusion that there are necessary pre-conditions for international tax competition in the economic conditions which are common for Russian economy.

Влияние внешних шоков на формирование взаимосвязей реального и финансового секторов хозяйства России

Влияние внешних шоков на формирование взаимосвязей реального и финансового секторов хозяйства России