This study examines the current state of the system of government standards for the assessment of business reputation of business entities. Aim. This study indicates the importance of business reputation assessment for organizations in terms of enhancing their competitiveness and complying with the existing legal requirements as well as for government authorities. Tasks. This study introduces the existing definitions of business reputation. It analyzes the current situation of the national system of business reputation assessment and the international system of brand valuation. Methods. This study uses general methods of scientific cognition to examine the system of government standards for business reputation assessment in various aspects. Results. The order of introduction of the developed national standards is provided. The objectives of brand valuation in the international system of standards are defined and compared with the objectives of business reputation assessment, which are regulated by national standards. Areas for further development of government standards in the critical fields of activity in terms of reputation assessment are specified. Current models for business reputation assessment are thoroughly examined, and the factors and subfactors applied in them are analyzed. The criteria for the distribution of market segments for assigning indexes to different categories of business entities are defined. The dependence of subfactor scores on the corresponding market segment is emphasized. Conclusion. Individual drawbacks in the methodology for business reputation assessment are identified. Recommendations for the improvement in government standards in this field are provided.

In the context of cross-border cooperation, the development of relations between the cooperating states is affected by the countries’ economic situation as well as the regional policy as a whole. In this particular case, relations between Russia and the Baltic States are affected not only by the willingness of the countries themselves but also by the regional policy of the European Union. Aim. This study assesses the impact of the EU regional policy on the economic relations between Russia and the Baltic States (namely, Latvia, Lithuania, and Estonia). Official sources, analytical reviews, various documents, and expert articles serve as the sources of information of the study. Methods. The theoretical and methodological basis of the study includes scientific works of Russian and foreign researchers in the field of regional integration and studies of the Institute of Regional Problems and the Institute of Europe of the Russian Academy of Sciences. Results. The impact of the regional policy of the European Union on the economic relations between Russia and the Baltic States (namely, Latvia, Lithuania, and Estonia) is examined. A definition of the EU regional policy is provided, listing its basic principles, features, and ways of implementation. Regional policy of the EU in relation to the Baltic region is characterized. The author analyzes the way this policy affects trade and economic relations between Russia and the Baltic States.

Exploration of the northern territories during certain historical periods as well as nowadays is directly associated with the necessity of developing the northern and Arctic production resources of national and global importance. Such a trend is typical for Russia and other northern countries. There are several possible reasons for a low population density in the northern territories: uncomfortable and extreme natural climatic conditions of the northern latitudes, high cost of living (survival), significant financial cost of maintaining economic activity, and high cost of production. Therefore, the economies of the northern territories have historically been poorly developed and the region has been scarcely populated. Extremely low migration to the North, accompanied by the urge to exploit territorial factors and the emergence of local settlements, is also worth noticing. However, the northern territories contain significant production resources that cannot be developed without attracting a labor force and, hence, it is practically necessary to develop and implement government tools for facilitating colonization flow, which arose during certain historical periods, in the northern directions. Aim. This study performs a retrospective analysis of the formation of a labor force in the northern regions of Russia (through the example of the Murmansk region). Tasks. This study identifies the special aspects and major periods regarding the formation of a labor force in the Murmansk region, a typical northern region of the Russian Federation. Methods. This study uses general methods of scientific cognition to examine the process of formation of the northern labor force in various aspects. Results. This study provides a characterization of northern colonization processes and outlines the role of the government in ensuring territorial migration in the northern direction. Conclusion. We point out an important methodological problem of assessing the northern labor market in Russia under the existing conditions. Government guarantees and concessional labor legislations are currently bound to the territories of the Far North and associated regions. At the same time, state territorial policy that is being implemented in the Russian Federation extensively exploits the categories of the Arctic and Arctic region. The resulting situation requires methodological clarification of the applied categories, expansion of the northern labor model to certain Russian territories, and improvement of the economic attractiveness of northern territories in terms of employment.

This study considers the results of scientific research conducted at the Institute of Problems of the Regional Economy of the Russian Academy of Sciences (RAS) over the past decade. It focuses on transformation processes in the economy of Northwestern Russia in the postSoviet era under the influence of external factors and globalization. Aim. This study aims to identify key structural changes in the economy of the Northwestern region to comprehend their interdisciplinary consequences on the basis of scientific research conducted at the Institute of Problems of the Regional Economy of the RAS. Tasks. This study identifies functional changes in the Northwestern macro-region on a nationwide scale on the basis of a factor approach. Methods. This study, in a historical and geoeconomic context, uses general methods of scientific cognition that are used in the field of spatial economics. Results. Transformation processes in the economy of the Russian Northwest are largely caused by objective, external factors associated with globalization. New objects of transport infrastructure tend to be of geoeconomic importance and are aimed at improving the efficiency of the macro-region’s external economic function.

Leasing has been widely used as a tool for attracting investments into economic sectors. In the Republic of Serbia, the leasing services market successfully attracts foreign investments through transparent economic regulations. Aim. This study examines trends in the development of the leasing services market in the Republic of Serbia. It compares the mechanism of leasing regulation in Serbia with that in Russia. Tasks. This study determines the dynamics of leasing services market development in the Republic of Serbia; examines the current state of competition in the Serbian leasing market; reviews the legal and regulatory framework of leasing in Serbia; and compares the legal framework of leasing services market regulation in Serbia with that in the Russian Federation. Methods. This study uses general methods of scientific cognition to examine the leasing service market in the Republic of Serbia in various aspects and to identify major trends in the current state and development of leasing. Results. The field of leasing services in the Republic of Serbia is regulated in a manner similar to the way in which this mechanism is organized in the Russian Federation since these legal doctrines have been developed under the auspices of UNIDROIT experts in financial lease. The Serbian economy successfully attracts foreign investments through the establishment of transparent leasing market regulations. The country’s size makes it highly dependent on foreign economic relations: the number of employees in the leasing industry in Serbia is less than 400, the country has 16 leasing companies, and the total volume of majority foreign stake in the capital structure of leasing companies exceeds 50%. Conclusion. The leasing services market in Serbia is competitive enough and has prerequisites for progressive development.

Aim. This study identifies major trends in and directions of enterprise development in the context of an innovative economy. Tasks. This study analyzes the specific features of enterprise development in the context of changes in the strategy for enhancing their competitiveness in the global market. It identifies major factors influencing the scenarios of enhancing the competitive advantages of enterprises. Methods. This study uses general methods of scientific cognition. Data from the annual reports of the World Intellectual Property Organization serve as the statistical basis of the study. Results. Specific features of the formation of the innovative potential of enterprises under the current geopolitical conditions are determined. This study performs comparative analysis of the participation of enterprises in the international patent activity. Furthermore, it analyzes the evolution of enterprises from an international perspective. The findings of the study indicate that the innovative activity of enterprises should rely on international doctrines of technical regulation and standardization to ensure harmonization of tools and mechanisms for innovative development of all types of economic activity.

This study examines the existing views of the special aspects of solving the problems of sustainable economic development, substantiating a new methodology, and developing an innovative model of a sustainable economy. Aim. This study aims to develop an innovative model of a sustainable economy as a combination of the public, private, and real estate sectors, their interrelationships, and their interdependence, which are implicit in managing an economy through the public sector. Tasks. This study examines the existing views of the special aspects of solving the problems of sustainable economic development, substantiating a new methodology, and developing an innovative model of a sustainable economy. It develops an innovative model of a sustainable economy, which is presented as a combination of the public, private, and real estate sectors functioning under economic management by the public sector. Methods. This study substantiates a new methodology for the formation of a sustainable economy and argues for the structural elements in an innovative model of a sustainable economy in the public, private, and real estate sectors. The interactions among these sectors ensure the desired twofold result: rational economic behavior and efficient economic activity, with the economy managed through the public sector. Results. A new methodology for the formation of sustainable economic equilibrium is proposed, making possible the substantiation of the structural organization of a systemic model of a sustainable economy, which comprises the public, private, and real estate sectors. The economic behavior and activity of the society is represented as a closed system cycle. The driving force behind all processes within the cycle are economic interests achieved through economic management, which facilitates the optimization of the real estate sector and leads to the societal formation of rational economic behavior and efficient economic activity. Conclusion. Examining the existing methods and special aspects of solving the problem of economic equilibrium makes possible the substantiation of a new methodology for the formation of a sustainable economic equilibrium. It allows the development of an innovative model of a sustainable economy as a combination of the public, private, and real estate sectors that is based on economic management through the public sector. An economy functioning on the basis of this proposed methodology enables the rational use of resources and sustainable economic growth.

Aim. This study analyzes external factors influencing the efficiency of the Northern Sea Route (NSR). It is based on a PEST analysis that allows assessing the market trends and the external situation in the industrial and commercial environment within the framework of the NSR. Tasks. This study composes and analyzes a list of factors that the author believes are likely to have an impact on the feasibility of the project and its efficient implementation over the next 3-5 years. It examines the factors as independent external variables influencing the dependent variables (transportation volume and NSR efficiency) and divides the selected factors into four groups (political, economic, technological, and social) in accordance with the author’s recommendation. Results. A PEST analysis of the external environment allowed the author to identify political (Policy), economic (Economy), social (Society), and technological (Technology) factors capable of influencing the efficiency of the functioning and development of the NSR. The results of the PEST analysis show that, virtually, all factors influencing the efficiency of the NSR as a domestic traffic artery have a tendency to rise and can facilitate the establishment of a year-round traffic artery. However, it should be noted that its operating costs are high.

This study examines the phenomenon of intrapreneurship, its existing interpretations, and approaches for understanding it as an adaptive organization structure. Aim. This study aims to determine the properties of a corporate management system that efficiently develops intrapreneurship. Tasks. The practical result of this study is the identification of directions and key management tools used in the implementation of programs that enhance the overall flexibility and adaptability of an organization. Methods. An examination of the existing approaches to the understanding of intrapreneurship is conducted using content analysis, comparative and critical analyses of theoretical sources, and the synthesis of practical experience and the theoretical concepts of corporate management system architectonics developed by the author. Results. The study reveals two different approaches to the interpretation of intrapreneurship: as a form of management and as a mode of employee behavior. To combine these two approaches on the basis of the concept of architectonics, the author proposes a hypothesis regarding intrapreneurship as a corporate management system consisting of a decentralized organizational structure, a horizontal management model, and an entrepreneurial organizational culture supported by a delegating type of management. Conclusion. Intrapreneurship should be viewed as a modification of the corporate management system that encourages the identification and cultivation of innovators within the organization, which increases the speed and adequacy of responses to changes in the external environment. Such an interpretation gives a manageable and practice-oriented tone to the phenomenon of intrapreneurship. Elements of the proposed management system can be used to optimize and transform organizations in order to improve their flexibility and sustainability by developing their innovative potential. Only a complex approach to the transformation of management and organizational culture, along with the appropriate type of management, will lead a company to the desired result.

This study is dedicated to the current state of the problem of operational risk assessment and management concerning commercial banks. Aim. This study evaluates the possibility of implementation of the Basel standards for operational risk assessment by Russian commercial banks. Tasks. This study defines the concept of operational risk of a commercial bank; analyzes major approaches to assessing the operational risk of a commercial bank; identifies the benefits and drawbacks of different approaches and defines the concept of operational risk capital. Methods. This study uses empirical research methods. Results. The Basel Committee proposes three major approaches to the assessment of operational risk capital: basic indicative, standardized, and improved. Each approach has its own benefits and drawbacks (problems of implementation by Russian commercial banks). Thus, all approaches require an improvement in the risk management systems in a bank. Conclusion. Implementation of the Basel standards for the assessment of operational risk capital by Russian banks requires a series of measures aimed at improving the risk management systems in banks. In particular, it is necessary to establish a separate division involved in the collection and processing of data on the bank’s financial and material losses due to the assumption of operational risk in the context of the major directions of the bank’s activities.

This study is dedicated to substantiating strategic target priorities in developing the scientific and educational potential of St. Petersburg with due regard to prospective trends of innovative growth and a knowledge-driven economy. Aim. This study aims to structure a socioeconomic study of the strategic management of a region (city) in the context of innovative growth. It aims to determine specific aspects of the functional role of private education in the paradigm of a knowledge-driven economy. Tasks. This study assesses the stage of evolution of economic management development in the Russian socioeconomic space in the context of global innovative growth; examines instrumental approaches to the formation of policy and strategy for building a knowledge-driven economy; and specifies regulatory mechanisms for stimulating innovative entrepreneurship based on the production, transfer, and transformation of knowledge. Methods. This study uses general methods of scientific cognition and secondary analysis of statistical data to examine the policy of building a knowledge-driven economy in a metropolis in various aspects, identify trends in the evolution of the education system as a knowledge transfer institution, and determine directions for future development. Results. Setting a strategic objective of local development through the example of St. Petersburg as territorial positioning (region, metropolis) in the context of global innovative growth and a knowledge-driven economy involves determining context, analyzing potential, and defining look-ahead objectives. Aknowledge-driven economy relies on the production, transfer, and transformation of knowledge, which is personal by nature, with an individual as its bearer. Therefore, human capital and individuals as its bearers are the key subject matter in the analysis of economic knowledge. This article views the necessary conditions for the development of human capital in St. Petersburg as the key prerequisite for the formation of a knowledge-based economy in the city. It gives due regard to the adaptive capability of private educational institutions, focusing on satisfying the need of the labor market for the required competences. Conclusions. Studying knowledge-based economies and measures for the formation of local institutions and innovative growth infrastructure makes it possible to identify specific aspects of the role of private education in a knowledge-based economy and the problems of encouraging entrepreneurship. Furthermore, it provides insight into the instrumentalization of private education for ensuring favorable results of innovations and diversification.

This study examines the interaction between government agencies and enterprises as a subject of institutional analysis. Aim. This study aims to identify factors influencing the formation of an institutional environment that opens the door to effective interaction between government agencies and enterprises. Tasks. This study substantiates the need for examining the formation of a relationship between government agencies and enterprises within the framework of institutional theory as it is a result of complex interactions among economic, legal, and political institutions. This study also examines the institutional interaction between government agencies and enterprises. Methods. This study uses an institutional approach to the logical analysis of documents. These methods allow for the sequential analysis of economic authorities, determine contradictions in their interaction, and examine the institutional interaction between government agencies and enterprises. Results. Analyzing the scientific literature on the problems in the relationship between government agencies and enterprises makes possible the identification of the negative factors of these processes and provides directions for their further development. The structure of the subjects and objects of an economic power relationship is determined, resources of economic power are analyzed, and problems in the distribution of economic resources are identified. Conclusion. Economic power at a time of market transformation has been supported by government institutions, which basically has meant the redistribution of economic power. Since the redistribution of economic resources has occurred in a noncompetitive market, it has exacerbated the conflict between business and the authorities that was caused by the government’s leading role in the economy and by the vague definition of property rights. Such processes have had a negative impact on the efficiency of economic development. Since a) the development of entrepreneurship progresses with government regulation and support, b) economic processes result from the participation of political institutions, and c) property relationships are inseparable from contractual relationships, institutional analysis makes it possible to address emerging problems in a more profound way.