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Economics and Management

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Vol 31, No 1 (2025)
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ACTUAL PROBLEMS DEVELOPMENT OF ECONOMICS

3-12 138
Abstract

Aim. The work aimed to reveal the nature of relations between entities of the real sector of the economy in the context of new challenges and opportunities for economic management from the standpoint of ensuring long-term interests of the development of the Russian economy and the formation of its new model.

Objectives. The work seeks to analyze the challenges and opportunities that determine the current economic situation in Russia; to show the reaction of real sector entities to these processes; to reveal the nature of relations between the state and the economy private sector entities in the context of new challenges and economic opportunities.

Methods. The authors employed logical and analytical approaches, abstraction, and theoretical generalization.

Results. The challenges and opportunities that determine the current situation in the Russian economy are identified and systematized. The nature of relations between the state and the economy private sector entities is revealed in the implementation of the goal of achieving technological sovereignty in the context of new challenges and economic opportunities. The priority tasks set nowadays for the real sector in Russia are emphasized.

Conclusions. The identified opportunities for the formation of a new model of the Russian economy from the standpoint of the active role of real sector entities are not fully fulfilled. The main reason for the underutilization of the existing potential for the formation of a new economic model consists in the imperfection of market mechanisms in times of crisis and mobilization economy. The application of the established experience of planning at the macro level demonstrates the insufficient effectiveness of the existing Russian planning system. Therefore, we can conclude that it is necessary to reinforce planning principles to achieve technological sovereignty in the Russian economy.

ECONOMIC THEORY

13-22 167
Abstract

Aim. To conduct an in-depth study of the significance of investments in establishing human capital as key to socio-economic development, highlighting its role in ensuring the growth of labor productivity and quality of life.

Objectives. The work analyzes the theoretical foundations of human capital and reveals its role in socio-economic development. It explores the concept of human capital assets, summarizing the main approaches to its study of scientists in Russia and in other countries. The article also considers the impact of human capital investments on the labor productivity growth rates in different sectors of the economy, including high-tech and traditional industries, taking into account the specifics of their functioning and the factors that determine the efficiency of human resources. It identifies patterns between the amount of investments in human resource development and their impact on production efficiency, as well as on the socio-economic development of the national economy.

Methods. The study combines theoretical and empirical approaches. The theoretical background is based on the research works of classical and modern economists on human capital assets, their essence and significance. The empirical analysis is based on statistical data on labor productivity, the scope of investment in human capital assets and their socio-economic consequences. A comparative analysis of labor productivity in large enterprises is also used. Results. The importance of investment in human capital assets is presented as one of the most effective mechanisms for increasing labor productivity. The analysis demonstrated that organizations that invest systematically resources in improving the qualifications of personnel and implementing professional development programs achieve a significant increase in productivity and strengthen their competitiveness.

Conclusions. Investments in human capital assets are a key factor in ensuring sustainable socio economic development. Their significance increases many times in the context of economic transformation, accelerated implementation of innovative technologies, and adaptation to new global and in-country challenges. For Russia, being under external economic sanctions and internal structural changes, priority development and support of human capital assets are becoming a fundamental condition for increasing labor productivity, achieving competitiveness, and ensuring a high quality of life for the population. An integrated and systemic approach is required, aimed at popularizing and increasing the effectiveness of investment in human capital assets. This approach will ensure the creation of a solid foundation for long-term social and economic progress, as well as strengthening the country’s competitive position on the world stage.

WORLD ECONOMY

23-32 100
Abstract

Aim. The work aimed to assess the impact of the economic sanctions of the European Union (hereinafter referred to as the European Union, EU) on the volume and structure of trade between Russia and Croatia in 2022–2024.

Objectives. The work seeks to analyze the trends of key indicators of Russian-Croatian trade under sanctions; to identify the main product groups in the structure of trade between them; to determine the significance of mechanical engineering and chemical products in trade interactions between the two countries.

Methods. The study employed such research methods as statistical data analysis, description and graphical modeling.

Results. The results obtained in the course of the statistical analysis indicated a significant reduction in volumes and a change in the structure of mutual trade between the Russian Federation (RF) and Croatia under numerous trade restrictions from the European Union. Economic sanctions had a greater impact on the exchange of goods between the countries in question in the products of the mechanical engineering sector. In 2024, the bulk of Russian-Croatian trade turnover constituted chemical industry products.

Conclusions. The current global geopolitical situation has determined negative trends in trade interactions between Russia and Croatia. Trade restrictions imposed by the European Union have incurred negative consequences on Russian-Croatian relations, reducing the range of goods in the structure of their mutual trade. European Union economic sanctions were mainly applied to export-import transactions related to mechanical engineering products. As a result, in the period analyzed, the exchange of mechanical engineering products between Russia and Croatia approached the minimum volumes, while chemical product supplies retained their importance in their mutual trade.

DIGITAL ECONOMICS

33-45 149
Abstract

Aim. The work aimed to determine the way the economic and organizational foundations for managing the digital healthcare circuit contribute to the creation of “responsible” technologies.

Objectives. The work analyzes the regulatory and methodological foundations governing the processes of creating digital healthcare technologies; conducts an exploratory analysis of data on public procurement of digital healthcare technologies for the period of implementation of the federal project Creating a Single Digital Circuit in Healthcare Based on the Uniform State Health Information System (USHIS) (2019–2024); and presents the factors influencing the processes of implementing digital healthcare projects, based on the value system of responsible healthcare innovations.

Methods. The work identifies factors influencing the implementation of regional digital healthcare projects using the policy frameworks, namely Responsible Innovation in Health (RIH), Health Technology Assessment (HTA), and Minimum Viable Product (MVP). The factors are presented in terms of such values of the responsible approach as public health, healthcare system, economy, organization, and environment. Based on the data of public procurement of digital health technologies for 2019–2024, selected by relevant codes of types of expenses, while the results are supplemented by testing hypotheses about the impact of financing processes on project implementation.

Results. The digital health management system is focused on the development of a regional standard scenario, which restricts regional authorities in conducting a full-fledged economic assessment of purchased digital solutions, which involves comparing several promising options. Public procurement serves as a mechanism for delivering funds to the contractor rather than as a tool for facilitating high-quality project implementation, which is expressed in periods of active procurement and disproportionate deadlines and contract prices.

Conclusions. The grounds for development in digital health contribute to the expansion of innovation in the regions. However, administrative processes influencing their generation have an impeding effect on activities of responsible innovation development. Concluding contracts with a predominance of the electronic auction (76.6% of cases) becomes unreasonable in relation to digital solutions that are being constantly used. Subsidiary dependence of regions can elucidate the shortest terms of contract execution (during the federal project implementation, the average declared term of execution of a contract concluded on behalf of regional, federal authorities and budgetary institutions is 7.5, 9 and 9.4 months, respectively. The possible consequences of such conditions include a high burden on contract executors and an increased probability of delays in their execution. The process of implementing digital healthcare projects can be complicated by the incomparability of contract prices, indicating their scale, and execution terms.

STATE ECONOMIC POLICY

46-60 122
Abstract

Aim. The work aimed to define a strategy for the development of major information projects focused on increasing the level of historical memory among young people.

Objectives. The work reveals the role of historical information resources in the formation of historical memory among young people; evaluates the state and prospects for the development of major information projects aimed at increasing its level; assesses the potential influence of major information projects on the formation of familial historical memory.

Methods. The study employs an analysis of scientific literature, content analysis, sociological surveys, and normative-target and system-analytical methods.

Results. A set of advantages and problems in the context of modern Internet resources dedicated to historical memory was determined using the content analysis of historical information resources. Empirical data were applied to substantiate the relationship and mutual influence of state policy in the field of formation of historical memory and familial historical memory. The causes of the generational bridge disruption in Russian society were determined.

Conclusions. Large information projects aimed at increasing the level of historical memory of young people are currently being developed in Russia. The potential impact of Internet resources on young people has not yet been fully utilized. The replenishment of the information base of historical Internet resources is very slow. It is advisable to involve student-age population to replenish the information base of Internet resources.

FINANCES AND CREDIT

61-71 120
Abstract

Aim. The work aimed to develop models for representing innovative financial instruments to systematize knowledge about the nature of innovative financial instruments.

Objectives. The work reviews existing methods for representing innovative financial instruments; develops models for representing innovative financial instruments, including through the use of a systematic logical-semantic approach; as well as draws conclusions and determines prospects for further development of the proposed models.

Methods. The author employed analysis and synthesis, the black box technique, logical-semantic modeling, and single-level triadic decoding of the category.

Results. The article discusses the process of investing through an innovative financial instrument. Based on the available data and a number of conditions, key elements are determined, as well as the concept of an innovative financial instrument as a type of financial instrument that is novel and alternative to traditional financial instruments, and has advantages over the latter. The results obtained confirm the position regarding increasing the accuracy and efficiency of representing innovative financial instruments through logical-semantic modeling.

Conclusions. The models developed represent a new contribution to the theory. The author thus offers a comprehensive approach to modeling the concept of an innovative financial instrument. These models contribute to the development of scientific knowledge and can be used by practitioners in various industries for better understanding and management of complex relationships in conjunction with innovative financial instruments.

BUSINESS MANAGEMENT

72-82 134
Abstract

Aim. The work aimed to study the methods of information security risk management in the context of digital transformation of companies.

Objectives. The work discusses existing approaches to the modernization of information systems, including the gradual modernization method, business process reengineering and reengineering technologies; it analyzes current risk assessment and control methods, such as the CRAMM method, the FRAP model, the OCTAVE technique, and the Microsoft risk management method; and highlights the advantages and disadvantages of these methods, as well as proposes recommendations for their adaptation and integration into modern production processes.

Methods. The study employed general scientific methods (deduction, analysis and synthesis), as well as comparative analysis methods.

Results. The work defines the main approaches to the modernization of information systems, reveals their differences, discusses modern methods of risk assessment and control (CRAMM, FRAP model, OCTAVE method, and Microsoft risk management method), and formulates the advantages and disadvantages of each of them. In addition, recommendations are developed for the adaptation of the considered methods and their further integration into modern production processes.

Conclusions. The development of modern digital technologies has a number of significant advantages and also risks that should be taken into account by companies in the context of digital transformation. Competent information security risk management enables companies to minimize damage and costs of eliminating negative consequences. The methods investigated in the course of the study enable to increase significantly the efficiency of information security risk management of companies. An important conclusion was the recognition of the need for regular monitoring and updating of risk management approaches in response to changes in the technological environment.

EDUCATION

83-91 108
Abstract

Aim. The work aimed to develop an integral indicator for assessing the efficiency of academic mobility projects in higher education organizations to improve management processes.

Objectives. The work seeks to specify the concept of an academic mobility project in higher education organizations; to identify the key criteria for the efficiency of the project under consideration in higher education; to determine the weighting coefficients for each criterion based on an expert assessment; to test the developed tools using a sample of two academic mobility projects implemented by the organizations under study.

Methods. The authors used methods for analyzing scientific publications of Russian and international authors, expert assessment, mathematical modeling (Harrington’s desirability function and additive convolution), as well as general scientific methods of cognition, including system and structural analysis and synthesis.

Results. In the course of the study, the concept of an academic mobility project in higher education organizations was elaborated. A set of key criteria determining the effectiveness of such projects was identified and analyzed. In addition, the criteria were ranked in order of priority and classified into groups. For each of them, weighting coefficients were established based on expert assessment. An integrated indicator for assessing the effectiveness of academic mobility projects in the higher education system was developed using the Harrington’s desirability function and additive convolution. The developed tools were tested on academic mobility projects at the university.

Conclusions. The study authors identified key criteria for the effectiveness of academic mobility projects in the higher education system, such as the degree of attainment of the stated objectives, the degree of integration of English-language disciplines/courses, the degree of international cooperation, the concentration of resources, career prospects for participants, the degree of involvement of partnership organizations, the level of involvement of participants, the level of satisfaction of participants, and the sustainability of partnerships. The developed integrated indicator provides a comprehensive and reasonable assessment of the effectiveness of projects, so that higher education organizations can make more informed management decisions and adjust their management strategy. The study results can be used to improve the management practices of academic mobility projects and develop new development strategies in this field in Russian and international higher education organizations.

SCIENTIFIC RESEARCH OF YOUNG SCIENTISTS

92-103 114
Abstract

Aim. The work aimed to analyze the process of integrating digital technologies into strategic management of regional rural development in China, determining its impact on sustainable development, agricultural modernization, and improving the quality of life of the population.

Objectives. The work seeks to identify the main fields of digitalization presented in the Concept of the 14th Five-Year Plan for National Economic and Social Development of the People’s Republic of China (2021–2025) and the Vision 2035 strategy; to analyze the impact of digital technologies on the socio-economic indicators of rural areas; and to study the strategizing methodology proposed by V. L. Kvint in the context of regional development.

Methods. The work employed systemic and analytical approaches, including the analysis of strategic documents, empirical data and scientific publications. The authors also applied comparative analysis methods to assess digitalization and its impact on rural areas.

Results. The integration of digital technologies has contributed to the modernization of agriculture, the development of infrastructure and the reduction of the digital divide between the city and the countryside. The positive effects of digitalization have been identified, namely a decrease in unemployment, improved access to educational and public services, and an increase in the population’s income. V. L. Kvint’s strategizing methodology provides a systematic approach to the implementation of digital solutions and provides for proactive and long-term management decisions.

Conclusions. Digitalization is of key importance in the sustainable development of rural areas in China. An integrated approach to the integration of technologies, based on national priorities and strategic planning, enables to solve effectively socio-economic problems and increase the country’s competitiveness.

104-113 93
Abstract

Aim. The work aimed to develop proposals for updating the standard for assessing the efficiency of development institutions in order to ensure the economic security of the state.

Objectives. The work analyzes the main scientific methods used in assessing the effectiveness of development institutions and the compliance of current standards for assessing development institutions with the requirements imposed nowadays on the system of strategic planning of development institutions; as well as develops proposals for updating the methods for assessing the efficiency of development institutions used in making decisions in terms of optimizing and increasing their effectiveness.

Methods. This study employed general methods for analysis of the main methods used in assessing the efficiency of development institutions; the need to update the methodology for assessing the efficiency of development institutions used in decision-making in terms of optimizing and increasing their effectiveness through a more comprehensive and extensive audit of the activities of development institutions was substantiated.

Results. The analysis of the current by-laws establishing the procedure for settling strategic planning documents and the assessment of the effectiveness of federal development institutions indicate the need to update the rules establishing the requirements for the procedure for assessing the effectiveness of development institutions in order to ensure the completeness of information for government decision-making in terms of optimizing the activities of development institutions. The author has developed proposals for updating the issues of assessing the effectiveness of federal development institutions and state-owned companies (corporations) in order to ensure the economic security of the Russian Federation (RF), taking into account the adoption of new Methodological Recommendations for the development of strategic planning documents of federal development institutions.

Conclusions. The study indicates the need to apply an integrated approach when developing the methods for assessing the effectiveness of development institutions, since the implemented strategic planning model involves the inclusion of activities that combine all stages of business processes in development institutions.

114-124 123
Abstract

Aim. The work aimed to analyze Iran’s position in global trade and its role in trade and economic integration.

Objectives. The work seeks to analyze the structure of Iran exports and imports, as well as to assess the level of diversification and the degree of technological dependence; to discuss the impact of international sanctions on trade and the economy; to explore the role and prospects of industries in international economic activity of Iran; and to identify the state actions to integrate into regional and global economic associations.

Methods. The study employed methods of economic analysis and descriptive statistics.

Results. Despite the high level of export diversification, Iranian economy remains vulnerable to external shocks due to the high concentration of commodity flows and dependence on imports of high-tech products. The developed manufacturing industry, including automotive engineering and metallurgical industry, is of key importance in the economy, but faces restrictions due to sanctions and protectionist policies. Iran’s efforts to integrate into international economic unions such as the Eurasian Economic Union (EAEU), BRICS (Brazil, Russia, India, China, and South Africa), and the Shanghai Cooperation Organization (SCO) are aimed at reducing isolation. However, the integration process is complicated by political and economic obstacles.

Conclusions. Iran has significant economic potential that can be implemented if sanctions are mitigated, the technological base is modernized, and the integration processes are intensified. However, the country’s ongoing isolation from the global community and the slow pace of integration into international economic structures remain key obstacles to sustainable economic development.

125-134 127
Abstract

Aim. The work aimed to study the features inherent in digital twins (hereinafter referred to as DT) within the analysis of the “digital twin” concept, and to highlight the twin market development trends.

Objectives. The work seeks to conduct a comparative analysis regarding the concept of “digital twin” and develop a classification of digital twins, as well as to identify the development trends of the digital twin market in the context of Industry 4.0.

Methods. The study theoretical basis consisted of scientific publications in Russia and other countries, regulatory documents, reports of international industrial and consulting companies, as well as data from analytical agencies. The author used methods of system analysis, as well as structural and functional approach.

Results. The global digital twin market is growing annually, and the average annual growth rate reaches 39%. The analysis showed differences in the interpretation of the definition of “digital twin” both among manufacturing companies and among representatives of scientific schools, which is due to the still unsettled terminology, the relatively recent release of regulatory documents (ISO, GOST), and the difference in the description of the internal components of the twin technology among manufacturers of this digital technology. The article proposes a classification of digital twins based on various types of digital twins, product, functions, end-use customers, and components. The work characterizes the trends in the further development of the digital twin market in the context of the digital transformation of Industry 4.0.

Conclusions. In the digital economy realities, the trend for the implementation of digital twin technology in manufacturing cycles is gaining more and more popularity and is a necessity for achieving a competitive advantage, while ensuring increased productivity through greater automation and the release of resources. The digital twin market is growing rapidly every year, which implies that it is important not only to see trends in a timely manner in order to lengthen the lead over competitors, but also to have a strategic vision and understanding of the technology. The presented classifications can be useful for digital transformation managers in companies implementing digital twins in their production cycles.



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ISSN 1998-1627 (Print)