The presented study examines some trends and features of the current state of Russian international development assistance. Aim. The study aims to structure the major problems that restrain the perception of official development assistance as a rational and important element of the national foreign economic strategy. Tasks. The authors systematize the causes that impede the efforts of the Russian government to maintain and update its course in the field of international development assistance and examine major directions for providing Russian assistance within the framework of the United Nations Development Program (UNDP). Materials. The statistical framework of the study includes data on the geographical distribution and scope of Russian international assistance from the official website of the United Nations Development Program (UNDP) and research dedicated to the problems that limit the efficiency of international assistance in general and Russian development assistance in particular. Methods. This study uses general scientific methods of cognition to examine the features of the current state of Russian international development assistance. Results. Problems that impede the development of Russian international assistance are identified. The potential causes of these problems are discussed. The reasoning behind the efficiency of official development assistance is examined. Major indicators of Russian development assistance through the United Nations Development Program are analyzed, and restrictions in the field of international assistance are described. Conclusion. In order to bring development assistance to the global level (as a goal of sustainable development that developed countries should achieve), it is necessary to thoroughly examine this phenomenon and adequately integrate it into the foreign economic policy. Limited knowledge of the causes and results of official Russian development assistance in the past makes it difficult to form a comprehensive perception of this tool of foreign economic and political influence, while the evolving world governance system, principles and terms of providing international assistance create new challenges for rationalizing budget spending.

Nowadays, the economic space is inseparable from digital technologies. This is why a new management paradigm is forming in Russia - one that combines traditional management systems with a system of management in a virtual space. It should be borne in mind that while in the traditional economy informational technologies play a supporting role, in the digital economy they are one of the major economic resources (assets). Aim The presented study aims to assess the level of functioning and development of the digital space that directs the restructuring of national economic policies and determines the vector of digitalization of the economy. Tasks: The authors examine approaches to assessing the level of development of the digital economy and systematize the major indicators in this field, analyze the indicators of development of the digital economy in industry, and propose directions for the development of the digital economy in Russia. Methods. This study uses a systems approach to assessing the indicators of digitalization of society, statistical methods and comparative analysis of global approaches to assessing the level of development of the digital economy. Results: the existing international approaches to assessing the digitalization of economic systems are systematized, and a system of indicators characterizing the level of development of the digital economy are proposed. Conclusion: approaches to assessing the level of development of the digital economy in the national and international context are divided into groups, and major directions of development of the digital economy in the Russian Federation aimed at enhancing its competitiveness on the global scale are identified.

The presented study examines the relevant problems of development of the pharmaceutical industry in Armenia. Aim. The study aims to determine a path for export-oriented growth of the pharmaceutical industry (including pharmaceutical products) in the medium term from 2018 to 2020. Tasks. The authors analyze the current state of the pharmaceutical market in Armenia and substantiate the feasibility of transition and/or creation of production companies in Armenia asa platform for entering the markets of the Eurasian Economic Union (EAEU) and the Middle East. Methods. This study uses general scientific methods of cognition, including analytical and methodological approaches and elements of forecasting. The export-oriented growth path for the Armenian pharmaceutical industry is determined using the analytical research method, forecasts in the context of searching for strategies of various TNCs, statistical data on the export of Armenian pharmaceutical products, and the dynamics of industrial growth in 2010-2016 published by the Statistical Committee of the Republic of Armenia, UN Comtrade Statistics, and other sources. Results. Armenia is trying to attract companies (including TNCs) or investors (including the diaspora-related investors and investments) from the EAEU and other regions that would wantto enter the markets of the Eurasian Economic Union, the Middle East and/or North Africa, Iran, and some Asian countries. Local manufacturers are going to become more aggressive, since they will start producing in accordance with GxP standards and entering new markets while maintaining their presence in the existingones, trying to increase their share by producing more expensive generics and introducing them to the existing and new markets. Export of vaccines (for veterinary medicine) will remain one of the industry’s leading exports. By creating strategic alliances, Armenian manufacturers will participate in regional public tenders in Russia, trying to win some of them. The Armenian government could start supporting local companies through outsourcing and becoming a CMOs for pharmaceutical TNCs. By 2020, export of pharmaceutical products could be at least doubled and achieve $35-40 million. Conclusion. After a period of rather slow growth of the Western outsourcing sector, which has initiated repatriation of production from the East, and combined with the inflationary rise in expenditures, Armenia now has a chance to become a platform for companies that are willing to explore the possibility of transitioning and/ or establishing production in Armenia, thus penetrating the markets of the Eurasian Economic Union, the Middle East and/or North Africa, and/or being oriented towards the production of active pharmaceutical ingredients in the medium term. The obtained results can be used by the Ministry of Economic Development and Investments of the Republic of Armenia and Business Armenia.

The presented study examines the various aspects of labor migration in the countries of the Eurasian Economic Union (EAEU). Aim. The study aims to analyze major labor migration processes in the territory of the EAEU in the context of the level of education, professional groups, and countries of origin. Tasks. The authors compare the professional groups of migrant workers from the EAEU countries who arrive in Russia to work, examine the dynamics of the number of citizens from Armenia, Kazakhstan, and Kyrgyzstan with a work permit in Russia from 2011 to 2016, and determine the number of Russian citizens who went to work abroad from 2005 to 2016 according to their level of education. Methods. This study uses such quantitative methods as collection and comparative analysis of statistical data that characterize labor migration trends in the Eurasian Economic Union. Results. The dynamics of labor migration between Russian and the other EAEU countries is determined. Conclusion. The Russian labor market is attractive to foreign workers, but professional groups are dominated by unqualified workers and those engaged in construction/installation and building/ renovation works. Labor migration of people with higher education from Russia increased by 1.5 times from 2005 to 2016.

The presented study analyzes the specific features of the economic and managerial components of entrepreneurial activity typical for the People’s Republic of China and the Republic of Sakha (Yakutia), Russia. Aim. The study aims to determine the specific features in the development of small and medium enterprises in the People’s Republic of China and a large Russian region - the Republic of Sakha (Yakutia), and to identify the commonalities between the two countries in terms of economy and development of management, which can be utilized to enhance international cooperation between the two geographically close regions. Tasks. The authors identify trends in the development of small and medium enterprises in the PRC and the Republic of Sakha (Yakutia) from the perspective of economic analysis; compare the business culture in the PRC and the Republic of Sakha (Yakutia) using comparative analysis; analyze the national management in both countries using G. Hofstede’s table; carry out an empirical analysis of personnel management technologies at identical small enterprises in China and Yakutia; determine the fundamentals of successful cooperation between the entrepreneurs of the PRC and Yakutia, with an emphasis on the cross-cultural aspects of management. Methods. The methodological framework of the study comprises the works of Russian and foreign authors on management and sociology; general scientific comprehensive analysis methods in the comparison of the basic parameters of entrepreneurial development in Yakutia and the PRC; comparative analysis of secondary statistical data; G. Hofstede’s four-factor model of culture; cross-cultural analysis of business in the PRC and Yakutia; case-study as a method of qualitative empirical sociology. Results. The share of small and medium-sized businesses in China’s GDP is almost 3 times higher than in Russia. The business activity index of small enterprises in China is high, and government support for small and medium enterprises is more comprehensive in China compared with Russia. Chinese management is based on the “guanxi” system and comes down to three principles: obedience, patience, and perseverance. Russian management is a symbiosis of the Western and Eastern approaches to personnel management. The Russian model is characterized by the individual nature of decision-making (similar to the Western model) and slow career progression, collective moral values (as in the Eastern model). G. Hofstede’s reference table shows that China and Russia are similar according to four major parameters of business culture, with some parameters being identical. Comparative analysis of two case studies based on the experience of small enterprise management in China and Russia at the empirical level shows that top managers of small enterprises in both countries love experimenting, use advanced management techniques, and care about developing corporate culture. Conclusion. Based on the results of the economic and sociological analysis of entrepreneurial development in the PRC and the Republic of Sakha (Yakutia), it can be concluded that approaches to business management are quite similar and, consequently, there is a foundation for successful cooperation and interaction between Chinese and Russian entrepreneurs.

The presented study examines certain aspects of the activities of the board of directors in the era of the fourth industrial revolution. Aim. The study aims to assess the role of the board of directors in the context of digital business transformation. Tasks. The author analyzes the existing definitions of "digital business transformation" and proposes an original definition, identifies the most common problems that companies face in the context of digital business transformation, and determines the goals that the board of directors needs to pursue in the context of digital business transformation. Methods. This study uses the methods of comparison, analysis, systematization of information, and expert assessment. The author uses scientific analysis and synthesis to provide an original definition of "digital business transformation", expert survey and analysis of results of previous research to identify the major problems that companies face in the context of digital business transformation, and analysis of the functions of the board of directors to propose goals for the board of directors and determine the role of the board of directors in digital business transformation. Results. The author proposes an original definition of "digital business transformation" as a "change in the management paradigm and business organization based on rapid, flexible, and continuous transformation of interactions with the external environment and within the company, where digital technologies serve as a tool that enables the company to enter a new stage of development, thus improving its efficiency by using the existing and/or additional resources in a new way". It should be noted that digital transformation projects face a number of problems, which creates new challenges for the board of directors in the era of the fourth industrial revolution. Conclusion. By understanding the nature of digital business transformation as well as the most common problems associated with transformation and achieving the goals proposed by the author, the board of directors would fulfil their role in digital business transformation most efficiently, holding responsibility for the development, monitoring, flexible and rapid adaptation of the strategy and neutralization of risks to maintain competitiveness and achieve industrial leadership in the digital economy while also reducing the risks of failure of the digital transformation project.

The presented study examines the relevant problems of the dynamics of sales and transmission premiums to the price of electricity. Aim. The study aims to analyze the results of reforms in the power industry stage by stage, the dynamics of electricity prices for industrial consumers from 2008 to 2016, the effect of these prices on the production dynamics, and the impact of payments made under power supply agreements on the price of electricity. Tasks. The authors examine the results of privatization of generating companies in 2008, the results of implementation of the RAB methodology in 2011, use of payments made under power supply agreements for various needs, including the construction of green energy facilities. Methods. This study analyzes the official information provided by the Federal State Statistics Service, government decrees, numbers from the official government publication Rossiyskaya Gazeta , articles and interviews from the Kommersant newspaper to identify problems in the electric power industry and those faced by the consumers of electric power. Results. Introduction of payment under power supply agreements is one of the factors of the rise in electricity prices. For industrial consumers in Russia, the prices grew by 70%, in the Siberian Federal District - by 141% during the same period. In the current context, widespread implementation of this mechanism becomes controversial. Conclusion. In the field of electricity production, businesses collude to establish oligopolies in order to maximize profits. In e-business, the government owns most of the assets. These factors hinder the reformation process. Solving the identified problems requires the participation of academic and industrial institutions, which already have the necessary techniques and tools for producing strategic forecasts of development of the electric power industry that would make it possible to assess the innovative and investment capabilities and risks in this basic economic sector.

The presented study examines the fundamental processes of innovative development of regional enterprises that determine the business model in the context of economic restructuring in Russia. Aim. The study aims to analyze the current state and trends in the innovative development of entrepreneurial activity at the regional management level in Russia. Tasks. The authors identify the important factors that determine the formation of a model of an efficient management system for entrepreneurial activity in the Russian Federation. Methods. This study uses methodological approaches to management to examine in various aspects the innovative changes in entrepreneurial activity that happen across Russian enterprises in a shifting environment. Results. Russian regions are viewed as a complex socio-economic system dominated by innovative processes that enhance competitiveness, intensify the activity of business entities and improve their investment potential by creating favorable conditions for attracting financial flows. An optimal management system would ensure progressive development of the economic, social, resource, and environmental aspects aimed at the socio-economic development of the region. Managerial decisions should ensure sustainable functioning of the model for long-term economic growth in Russia. The global economic crisis and economic stagnation reduce the efficiency of the system for the management of innovative activity of enterprises through disruption of cause-and-effect relationships between individual departments and deficit of financial resources. Conclusion Factors of the institutional environment are associated with the administrative reforms implemented at the macroeconomic level, the current stage of the global economic cycle, and the investment potential of the region, which affects the stability of entrepreneurial activity. The problem of facilitating innovative activity of business entities in the Russian Federation is mostly associated with institutional reforms.

The presented study examines the basic principles and problems of pricing in shipbuilding and financing of shipbuilding. Aim. The study aims to structure and analyze the modern means of financing of shipbuilding as a key element in ship pricing and making the decision to start building. Tasks. The authors examine different terms of financing and methods of payment, determine the benefits and drawbacks of different means of financing in shipbuilding, and iden tify the field of application of the proposed financing methods. Methods. This study uses general scientific methods of cognition to examine major types of financing used in shipbuilding in various aspects, to identify problems and to determine fundamental relationships. Results. The selected form of financing of shipbuilding has a critical impact on the final price of the finished ship. In the context of planned economy, this factor was not as significant due to the fact that shipbuilding was funded entirely from the government budget. Nowadays, shipbuilding companies are equal participants in market relations and need to think about reducing the cost not only of shipbuilding, but also of financing. This study provides formulas for calculating the total cost of shipbuilding under various contractual terms and determines their features. Conclusion. Examination of different terms of financing reveals major benefits and problems that a shipbuilding company would face when selecting a specific form of financing for shipbuilding, which in turn allows the shipyard to reduce financing costs in each case, enhance the competitiveness of the finished product, and eventually improve the overall efficiency of the company.

The presented study examines certain aspects of the activities of the board of directors in the era of the fourth industrial revolution. Aim. The study aims to assess the role of the board of directors in the context of digital business transformation. Tasks. The author analyzes the existing definitions of “digital business transformation” and proposes an original definition, identifies the most common problems that companies face in the context of digital business transformation, and determines the goals that the board of directors needs to pursue in the context of digital business transformation. Methods. This study uses the methods of comparison, analysis, systematization of information, and expert assessment. The author uses scientific analysis and synthesis of information to provide an original definition of “digital business transformation”, expert survey and existing research to identify the major problems that companies face in the context of digital business transformation, and analysis of the functions of the board of directors to propose goals for the board of directors and determine the role of the board of directors in digital business transformation. Results. The author proposes an original definition of “digital business transformation” as a “change in the management paradigm and business organization based on rapid, flexible, and continuous transformation of interactions with the external environment and within the company, where digital technologies serve as a tool that enables the company to enter a new stage of development, thus improving its efficiency by using the existing and/or additional resources in a new way”. It should be noted that digital transformation projects face a number of problems, which creates new challenges for the board of directors in the era of the fourth industrial revolution. Conclusion. By understanding the nature of digital business transformation as well as the most common problems associated with transformation and achieving the goals proposed by the author, the board of directors would fulfil their role in digital business transformation most efficiently, holding responsibility for the development, monitoring, flexible and rapid adaptation of the strategy and the corresponding risks to maintain competitiveness and achieve industrial leadership in the digital economy while also reducing the risks of failure of the digital transformation project.