This study determines the development trends of banking systems in the unstable post-crisis periods of economic environment. Aim. This study aims to identify and describe the key factors and economic effects impacting the function of banking systems in today’s economy. Tasks. To determine the development trends in banking systems, one must analyze, evaluate, and compare the current state of the banking sector in a number of countries such as China, USA, etc. Once external banking benchmarks have been established, one can propose measures aimed to ensure proper functioning of the Russian banking systems in the face of today’s difficult economic conditions. Methods. This study will use general methods of scientific cognition as well as comparative and retrospective analysis to examine the conditions and peculiarities of banking systems to assess their development amid the current unstable economic environment. Results. The analysis conducted in this study suggests that the modern state of banking systems will require the formation of a new, comprehensive financial and banking architecture characterized by the development of a financial regulation and oversight system to increase the interdependence of financial institutions within a country. It was also determined that continued convergence of financial and banking structures within an economy is essential to enhance interaction during periods of unstable global markets. Conclusion. According to the results, a number of practice-oriented measures will be proposed, aimed at supporting the growth of the Russian economy and provide increased stability and effectiveness within the Russian banking system.

This study is dedicated to the analysis of territorial and political order in Russia. Despite the fact that this study will look at the issues of spatial organization in Russia over a period of many centuries, this is not a historical study. Consequently, this study will outline territorial management of economic policy and political order in Russia throughout her history. However, it is impossible to understand Russian practices of governmental territorial management in 2016 without having an historical perspective. Aim. This study aims to analyze the prerequisites for the formation of a territorial and political order in Russia based on the theoretical understanding of territorial regulation as an interdisciplinary phenomenon and process. Tasks. This study will determine key methods for scientific analysis of regional management practices and identify historical analogies to our current modern approach. Methods. This study uses general methods of scientific cognition and scientific practices to examine the principles of economic history while providing analysis of a country’s territorial and political order with regards to economic management. Results. It will be demonstrated that the restructuring of the Russian economy is an objective process with wide geographic and historical boundaries. Examining past experiences makes it possible to avoid repeating mistakes and will enable us to predict trends in the development of a spatial organization within the current and future economic structure.

Over the last two decades, the poverty problem emerged in Russia, one of the world’s wealthiest countries in terms of natural resources. This problem is persistent and widespread, particularly among the economically active population. Sluggish economic growth is just one of the macroeconomic effects of poverty. Aim. This study aims to analyze the contradiction between natural resource wealth and the number of the poor in Russia, supplementing economic inequality with characterization of property relations and the distribution process in the national economy. Materials. This study uses general methods of scientific cognition and is based on evaluation data provided by the Institute of Problems of Regional Economy of the Russian Academy of Sciences and the Federal State Statistics Service. Results. The problem of savings accumulation as potential investments and an opportunity for applying neo-Keynesian methods for economic growth stimulation is examined. Behavioral aspects in the context of increasing investment potential and salary as a source of savings are analyzed. Labor alienation and appropriation are examined in conjunction with labor performance and interindustrial salary inequality.

This study systematizes the known forecasting methods applicable to the assessment of future GDP dynamics in both long- and short-term prediction periods. Aim. This study aims to compare economic approaches and models used to forecast the macroeconomic indicators of a country’s socioeconomic development, including GDP. Tasks. The study analyzes GDP dynamics in Russia, reviews economic approaches and models used in forecasting, summarizes the applied methods for forecasting indicators of the system of national accounts, determines groups of forecasting methods, and provides an expert assessment of GDP for 2015 and statistical forecasting based on a multivariate nonlinear regression model. Methods. This study uses general methods of scientific cognition and comparative and retrospective analyses to systematize econometric, expert, and combined approaches applicable to GDP forecasting in the context of dynamic socioeconomic and geopolitical transformations. Results. Known forecasting methods applicable to the pre-emptive assessment of GDP and other macro- and microeconomic indicators of socioeconomic development are examined. Statistical data describing GDP dynamics in the Russian Federation are summarized. The authors provide their results of GDP forecasting according to the Cobb-Douglas production function. Conclusions. It is substantiated that three groups of methods can be applied in GDP forecasting - factographic (statistical), expert (intuitive), and combined - and these groups differ in the nature of the data required for forecasting. The authors conclude that the practical application of a particular GDP forecasting method is determined by the availability of required information, selected forecasting method, competence of the forecaster, purpose of the forecast, and length of the prediction period.

This study summarizes and analyzes major issues that the Russian banking system faces amidst the difficult geopolitical environment and economic sanctions while addressing the need for restructuring the Russian economy. Aim. This study aims to determine the sequence of measures that the Russian Central Bank and government need to undertake toward reform. To this end, the study will examine a wide array of applied tools and specify the argumentation of these tools to determine whether they are sufficient to strengthen the country’s banking system. Tasks. It is believed that undertaking structural reforms and economic diversification are the most effective ways of overcoming a recession. In addition, this study will outline the need for a healthy, stable, and well-capitalized Russian banking system to increase investment in the Russian economy. This study aims to demonstrate possible methods for strengthening the Russian banking system. Methods. This study uses general methods of scientific cognition to analyze and systematize the issues facing the current Russian banking system. The study will also examine the policy of the Russian Central Bank and government on the escalation of the capitalization level with regards to core commercial banks. Results. The following short-term trends in Russia’s banking system can be predicted: 1. Government-controlled banks have had a pronounced upward trend. 2. There has been a steady demand for credit from corporate customers (particularly working capital credit) regardless of the interest rate. 3. It has been observed that there is a high demand for loans from companies that make or plan to make domestic investments. This observation is particularly true for large and medium-sized businesses. 4. Past due amounts will continue to increase for both companies and individuals, requiring banks to build up substantial cash reserves and create shorter terms for new loans. 5. Individual cash deposits into banks will remain at the current level of inflation. 6. The amount of unsecured consumer loans and auto loans will shrink. However, the mortgage market may show positive signs of growth if given proper government support. 7. Due to the decrease of the capital adequacy level, banks will keep looking for reasonably priced funding sources in the future. Conclusions: Solving the issues facing the Russian banking sector over the next few years will depend on a strategy whereby banking regulators interact regularly with commercial banks. In this regard, we believe that consistent effort should be put into the following areas: • developing an interest rate policy aimed at stimulating investment activity • differentiating the regulation and oversight activities of credit institutions • providing safe access to resources for all banks

A leader needs creativity to be able to make innovative decisions that will positively affect the development of an organization. Of all the leadership theories, the theory of “distributed leadership” stands out as it allows a modern leader to explore new opportunities for “teamwork management.” This study reviews successful international operations that showcase the implementation of “distributed leadership” in health care organizations. Aim. This study aims to analyze the experiences of implementing the “distributed leadership” theory in health care institutions. Tasks. This study substantiates the impact of a leader’s creative potential on the effectiveness of management. This study also examines the theoretical approaches of “distributed leadership.” Lastly, the study looks to determine the peculiarities of the implementation of the “distributed leadership” model in the management of health care institutions. Methods. This study analyzes the successful international experiences implementing the “distributed leadership” model in health care organizations. Results. Our review of the successful international operations implementing the “distributed leadership” model in health care organizations indicates a positive effect on leadership and an increased effectiveness in a health care institution’s operations. The study also proved that the effectiveness of a health care institution increases with the implementation of the “distributed leadership” model, decentralization of management, and by attracting workers with creative potential who share common corporate values. Lastly, it was determined that the Russian health care system will require a new type of leader going forward to improve the country’s health care institutions. Conclusions. The “distributed leadership” model allows doctors to actively engage in the management process, increasing the overall effectiveness of the institution while improving staff morale. Implementation of the “distributed leadership” model in health care institutions also provides a foundation for successful teamwork and promotes greater levels of creativity.

This study offers proprietary methodology for managing the competitiveness of engineering services based on a consumer behavior model depending on the level of a company’s thesaurus, types of customers and adequate degrees of originality of services. Aim. This study aims to substantiate an algorithm for the contractor’s analysis and selection of competitive engineering services based on innovative and market factors. Tasks. This study defines engineering services; determines innovative and market factors that stipulate the competitiveness of engineering services; identifies economic types of customers in engineering; and develops methods for managing the competitiveness of engineering services. Methods. This study uses general methods of scientific cognition to identify innovative competitiveness factors, as well as the judgmental method, factor analysis, and Spearman’s rank correlation coefficients to determine market competitiveness factors and identify economic types of customers. Quality assessment methods are indispensable as quantitative approaches only work within a certain area of application. Results. For most customers of engineering services, the key competitive factor is innovativeness. The degree of originality is stipulated by such criteria as the level of co-production, technological effectiveness and customization of services, and customer’s thesaurus level. However, essential as it may be, this factor alone is not enough. It must be bolstered by a number of market factors that are important for the customer. A competitiveness model for engineering services allows a transition towards parametric management methods, which involve step-by-step selection of the most competitive services. It begins with studying the customer’s needs and then going through the stages of technological search with due consideration to the market factors important for the customer. Conclusions. The proposed approach to managing the competitiveness of engineering services can be recommended to engineering companies that act as prime contractors and face he problem of selecting a competitive solution from several alternatives. The proposed mechanism takes into consideration the economic type of the customer; originality of the proposed solution, including the technological/non-technological nature of an innovation; and a combination of market factors that hinge on techno-economic characteristics.

This study describes two extreme cases of the assessment of data that can have economic value. The data are assessed using a formal application of the maximum likelihood method, which is used extensively in theoretical and applied statistics. Aim. The study aims to describe two assessment cases-discrete and continuous-that are presented in the form of procedures used to determine the parameter that is used to assess the amount of data obtained from an arbitrarily set statistical sample recorded through observations of a mass phenomenon or process. Tasks. The study provides an interpretation of this research using modern mathematics and a set of mathematical and instrumental economic procedures that allow a modern theoretical economist to become oriented in the methodological constructions providing an understanding of the subject and methods of modern economic research applied to the complex processes of data assessment. Methods. Methodologically, the differences in the study of the maximum likelihood method for discrete and continuous processes are thoroughly analyzed. It is shown that in extreme cases of transition, discrete and continuous are a certain unity of the mathematical continuum, which is recorded in the study. Results. The author concludes that the maximum likelihood method suggests that the minimum value θ , which provides a positive probability density of the examined sample values, should be selected as the likelihood function argument. The resulting assessment of the specified parameter makes it possible to extract the required amount of data from the sample. Conclusions. The limiting law for a normal p -vector sample space H n is the p -dimensional normal law determined by a special covariance matrix J . Since the sample components in applied economic problems have embodied or material meaning, the obtained data eventually make it possible to control set economic systems in certain conditions, even under uncertainty.

Imposition of sanctions and acute geopolitical situation have resulted in a socio-economic downfall in Russia. Therefore, there is an objective need to establish a dialog between scientists and practitioners on how to revive the interaction of education, science, and culture as the drivers of a new economy. Aim. This study aims to identify major problems in the operation of private universities in the context of modernization and optimization of the Russian educational system. Materials. The analysis is based on data provided by the Saint Petersburg University of Management and Economics. Results. Twenty-five years of operation of the Saint Petersburg University of Management and Economics are analyzed. Major problems that private universities face are identified, namely: integrated model for the optimization of the number of state and private universities; legislative exposure; difficulty complying with terms and requirements of inspection authorities; unified monitoring of indicators for state and private universities; constant adjustments to the requirements for the educational process, etc.

The creation of innovative infrastructures, regulatory frameworks, and new approaches to the training and management of teaching staff at universities represents the innovative nature of management in the system of higher professional education. It obviously reflects on the human capital of this system. Aim. This study aims to identify and analyze the impact of underlying innovative processes on human capital in the higher professional education system. Tasks. This study classifies human capital according to a number of criteria, determines the distinctive features of human capital in the system of higher professional education, and identifies the innovative nature of changes in the higher professional education system and its impact on human capital within this system. Methods. Substantiation of several points and the reasoning behind the conclusions are provided using general scientific and special research methods - dialectic and situational - and the coevolution (systemprocess) approach. Results. Assessment of human capital of the higher professional education system in the context of innovative changes revealed the trends of massification of postuniversity education and the rejuvenation of university teaching staff. These processes arise against the background of a reduction of human capital in the higher professional education system and a lack of conditions required expansion of the system. Conclusions. The developed matrix of the effectiveness of innovations in the higher professional education system allows complex assessments of any innovative activity in this system, including management activity.

This study is aimed at examining methodological approaches to performance evaluation of innovative projects with regard to small and medium enterprises (SMEs). Aim. This study aims to identify and structure major methodological approaches to performance evaluation of innovative projects in SMEs. Tasks. This study classifies development factors of venture investment; defines innovative potential of SMEs; determines potential directions for venture investment development; and examines methodological approaches to performance evaluation of innovative projects. Methods. This study uses general methods of scientific cognition to examine methodological approaches to performance evaluation of innovative projects in various aspects with regard to SMEs. Results. Innovative enterprises serve as tools for the organization of structured economic development on the part of the government and private businesses. Each of the components of innovative economy should be identified with the understanding of the total flow of innovative forms of business. Conclusions. Potential economic development of regions and municipalities hinges on the level of SMEs’ development.