The presented study analyzes the dynamics of major performance indicators of small enterprises in the Northwestern Federal District, allowing the authors to propose strategic measures for consolidating the position of small enterprises using the tools provided by the economics of quality. Aim. The study aims to relate institutional transformations in the regional economy with the primary goals and objections that are identified as priorities in strategic documents. Tasks. The authors compile a list of quality indicators for assessing institutional transformations in the regional economy, collect the available statistics for the study, and evaluate the quality of transformations in the economy of the Northwestern Federal District. Methods. This study uses general and specific methods of scientific research to illustrate problems in the scope and quality of institutional transformations, to identify trends in the current state and development of the regional economy, and to propose strategic measures for consolidating the position of small enterprises in the Northwestern Federal District using the tools provided by the economics of quality. Results. The market economy is dominated by private property and active participation of the business sector. This is why in order to assess the quality of institutional transformations in the regional economy the authors have selected data on the structural statistics of enterprises, enterprise demography, and major performance indicators of small enterprises and microenterprises. Analysis of the dynamics of the above indicators over the past decade shows that the development of small enterprises in the Northwestern Federal District facilitates the development of small business in Russia as a whole and has significant growth potential. However, this development is hindered by such institutional factors as weak institutions responsible for judicial protection of small enterprises, competitive environment, and business security. Conclusions. Institutional transformations in the economy of the Northwestern Federal District have facilitated the development of market relations and consolidated the institution of private property, thus improving the competitiveness of the Russian economy. In order to improve the quality of institutional transformations, it is necessary to create such institutional conditions in the regional economy that would make reorganization a more lucrative structural change than formal liquidation of the enterprise. One of the possible ways of implementing the proposed measures is by improving business stability using the tools provided by the economics of quality.

The presented study outlines the principles and concepts of economic modeling in the digital society from the perspective of the institutional economic theory. Aim. The study aims to develop the principles and concepts of modeling of economic institutions in the digital society within the framework of the author’s concept of econotronics. Econotronics is a branch of the economic science dealing with the development dynamics of the institutions of interaction between economic agents and the society through digital technologies. Tasks. The author aims to determine the differences between the economy of the 21st and the 20th centuries, to formulate the concept of econotornics, and to establish the principles and concepts of institutional modeling of the economy in the digital society. Methods. This study uses the critique of previous research and the author’s developments to propose theoretical approaches to institutional modeling of economic objects in the digital society. Results. The author determines the scientific principles of the establishment of economic institutions and the ideas of modeling when dividing institution groups according to their resource use goals, structuring decentralized transactions within the framework of the blockchain technology, assessing institutions in terms of their performance, for the purpose of evolving social projects through the implementation of shared economy. The theory of institutional modeling of econotronics has found application in the empirical assessment of the institutional environment of social entrepreneurship, development of labor resources using the blockchain technology, formation of a matrix of the institutional environment of local public goods, and in the institutional mechanism for the formation of social innovations. Conclusions. Institutional modeling of econotronics provides an opportunity to ensure rational management aimed at predicting further development of the driving factors of the economy in the modern conditions of a digital society.

The presented study examines the issues of mutually beneficial economic, scientific, and technological cooperation between Russia and Kazakhstan in the field of space exploration and the activities of each country in this cooperation. Aim. The study aims to identify mutual economic interests of the two countries in the field of space exploration and to determine the conditions that would facilitate the implementation of measures in this field. Tasks. The authors propose directions and predict the results of innovative interaction and cooperation between the two countries in the field of space exploration and advanced technologies. Methods. This study analyzes the directions of economic and technological cooperation between various countries in the field of space exploration and its results that affect the development of the innovative economy. Analytical tools are used to identify the potential benefits of cooperation not only for Russia and Kazakhstan, but also for other countries interested in such cooperation, which can serve as an argument for expanding the number of countries involved. Results. The authors propose a modification of international economic cooperation between Kazakhstan and Russia to serve as a foundation for deeper integration of the two economies. This involves the use of conventional and new tools of economic cooperation with allowance for the specific aspects of space exploration. Conclusions. The study proves that the mutual interest of Kazakhstan and Russia in space exploration is growing, but mobilization of work in this field requires participation of other countries. This expands the directions of economic cooperation and enables synergistic interaction between the partner countries.

The presented study examines the use of various tools of government policy aimed at socio-economic development of specific territories. Aim. Based on the analysis of a vast range of socio-economic development tools, the study aims to develop a single mechanism for territorial development that will be implemented on common rules across all constituent entities of the Russian Federation. Tasks. The author determines the necessary conditions and benefits of economic activities in special economic zones (SEZ) that would be more lucrative for investors and entrepreneurs than all existing tools of regional development. Methods. This study uses general scientific methods of cognition to examine the government policy on territorial development in various aspects, to identify the benefits and drawbacks of the existing tools typical for the current situation, and to determine the major directions for improving management in this economic sector. Results. It is concluded that the existing practices focusing on the level of regional development are ineffective, and the author suggests that the tools should be aimed at solving specific development problems. A fundamentally new approach is proposed, based on substituting the wide variety of forms and types of territories, each with specific business conditions, for a single territorial development mechanism - special economic zones (SEZ). The scope of government support measures is proposed to be determined for each investor as a percentage of investments in the projects, taxes and customs payments, and the period of support. That said, the investor should be able to choose the format of support (benefits, subsidies, guarantees) within the available limit. Conclusions. The proposed single mechanism has the potential to facilitate business activities in SEZs and to attract new investors, which will solve the problem of accelerating socio-economic development on the national and regional scale - a goal that the President of the Russian Federation has set for the government authorities and administrative bodies.

In the course of evolutionary development with allowance for geopolitical features, Russia’s strategic objectives and methodological approaches to the management of innovative potential of business structures are changing. Administrative bodies should consider the changes in the volume and sources of investments, which are assessed according to the effectiveness and sustainability of implementation of regional innovative projects. Aim. The presented study aims to demonstrate the necessity of and conditions for optimizing investment resources in the development and implementation of managerial solutions aimed at the formation and development of the innovative potential of entrepreneurship in Russian regions. Tasks. The authors identify the factors that affect the formation of the innovative potential of regional economic entities in the Russian Federation and substantiate the potential directions for optimizing the allocation of investment resources, considering the need to facilitate the development of public-private partnership tools in the field of innovation. Methods. National and regional institutions regulating entrepreneurship should use legal, economic, and administrative tools and innovative forms and methods of management that would take into account the global trends and directions of changes in the modern management and information and communication technologies. Results. Given the functional focus of the regional management system, support and development of investment activities should now be viewed as the priorities of economic policy of administrative bodies. Creation of conditions for the innovative vector in the formation of regional budget revenues, anti-monopoly regulation, and creation of conditions for business activities aimed at solving the problems of socioeconomic development can be viewed as elements of regulation in the context of a deficit in regional budget revenues. Conclusions. Below are the most important parameters that affect the efficiency of innovative activities carried out by business structures with allowance for the limited investment resources in the context of budget constraints: - uncertainty and the looming global financial crisis in the international markets of goods and services, which determine the priority directions of changes in the scenarios of progressive functioning of regional socio-economic systems; - trade wars and enhancing competitiveness between economic entities due to changes in the global market conditions; - innovative technological chains that reduce production costs, ensuring the resource and energy efficiency of production; - correction of consumer demand in accordance with a decline in income in the majority of Russian regions; - increased demands on the quality and environmental safety of products; - demographic trends that lead to changes in consumer preferences as illustrated by marketing research; - application of information and communication technologies that bolster the implementation of scientific research and developments aimed at the steady development of human capital.

The presented study analyzes the role of various territories and water areas of the Arctic zone (including the Arctic shelf) with known hydrocarbon reserves in the context of strategic development of the Russian energy industry. Particular attention is dedicated to the changes in the perception of the role of Arctic hydrocarbons in the energy policy over time and the circumstances that brought about these changes. Aim. The study aims to analyze a number of key strategic documents on the development of the Russian energy industry in order to comprehend the role of and prospects for the development of the Arctic oil and gas sector in Russia. Tasks. The author examines the major directions and priorities of Russia’s current long-term energy policy by analyzing the Energy Strategies for Russia, determines the extent of exploration of hydrocarbon reserves on the continental shelf, and specifies the major problems in the development of Arctic hydrocarbon extraction. Methods. The analyzed materials include the Energy Strategy for Russia until 2020 (approved in 2003), the subsequent, currently effective Energy Strategy for Russia until 2030 (approved in 2009), and the yet-to-be-approved project of the Energy Strategy for Russia until 2035, developed by the Ministry of Energy of the Russian Federation. Results. Overall, it can be concluded that the most recent energy strategy relies more on the resources of the Eastern Siberia and the Far East than the hydrocarbon reserves of the Arctic zone. Those resources are estimated to support the reproduction of mineral and raw materials in the short and medium term. Furthermore, it is planned to move away from extraction and transportation of hydrocarbons towards deep processing using knowledge-intensive technologies, which would allow a wider range of products with higher added value to reach the global energy market. Conclusions. The examined strategy looks rather promising, but its implementation in Russia is currently quite limited - according to the project of the Energy Strategy for Russia until 2035, this is due to the “restrictions imposed by a number of countries on Russian oil and gas companies regarding the supply of modern technologies and equipment used in the exploration and exploitation of Russian deep-sea, Arctic marine and shale deposits, as well as attraction of long-term investments.”

The presented study analyzes the transformation of entrepreneurship under the influence of the digital economy and examines the issues of digitalization of the economy as well as its development at the institutional level and enterprise level in the context of INDUSTRY 4.0 formation. Aim. The study aims to examine the effects of the digital economy on the development of small and medium enterprises in Russia and to propose directions for the development of business models for small enterprises and their government support. Tasks. The authors assess the extent of digitalization of the Russian economy by using international indices, determine the specific features of transformation of organizations’ activities in the context of the digital economy, identify the problems of and opportunities for successful implementation of the “Digital Economy of the Russian Federation” program and directions for improving the efficiency of business processes at the enterprise level. Methods. This study uses the systems approach, general scientific methods of cognition, and critical re-evaluation of the works of Russian and foreign scientists on digital economy. Results. As a result, the authors prove that in the digital economy even a small enterprise can be successful - without solid initial financial resources, but able to work properly with innovations and customer needs based on information and communication technologies. The government should facilitate entrepreneurial activities aimed at creating competitive national digital platforms. At the national level, the problem of restricted access to data and the issue of harmonizing the digital agenda in the regional and national aspects need to be regulated. Conclusions. The conducted study shows the effect of the digital economy on the activity of organizations and the country as a whole. Digital transformation already allows creating client and business processes with minimal human involvement, facilitates the development and launch of new products within a very short term, and streamlines managerial decisionmaking. Thus, the organizational structure of companies becomes more flexible and distributed over a larger territory, most often established according to product principle.

The modern conditions in the development of economic systems make us take a fresh look at the logistics interaction between economic entities. The presented study analyzes the issues of managing integrated logistics systems. Aim. The study aims to systematize scientific approaches to integration processes in logistics and to substantiate the necessity of implementing modern integration planning systems in the activities of organizations. Tasks. The authors identify the problems of integration of business processes, analyze the existing types of integration and the algorithm of creating integrated logistics systems, determine the problems of implementation of modern integrated planning systems in the activities of commercial organizations, and provide the corresponding recommendations. Methods. This study uses general scientific methods of cognition to examine the processes of logistics integration and to develop basic approaches to creating integrated logistics systems. Results. The need for integration is determined by the specific aspects of the logistics approach to managing the flow of material resources. Such aspects include a single subject of logistics system management, a single object of management, i.e. direct logistics flow, uniform management goals and criteria for assessing the efficiency of the logistics system. Different types of logistics integration are identified according to the level of centralization of logistics system management. The sequence of creating an integrated logistics system is analyzed, which involves automation of business processes and configuration of the logistics flow. An algorithm for assessing the efficiency of the elements of the logistics system is examined. The study substantiates the need to implement an integrated planning system consisting of two components - “demand planning” and “supply chain planning”. The planning sequence is determined, which involves establishing the cots and limitations, building and calculating an optimization model, analyzing the results of integrated planning and integrating them into the related systems for execution and control. Conclusions. Implementation of integrated planning systems makes it possible to determine the marginal demand and to satisfy it with minimal costs, and provides an economic substantiation of the financial advantages of the proposed solutions.

The presented study examines human capital management in the context of digital transformation of the economy. Aim. The study aims to develop the basic elements of management of formation and accumulation of human capital using digital technologies: Big Data, Internet of Things (IoT), cloud storage and cloud computing, and Machine Learning. Tasks. The author examines the basics of formation and accumulation of human capital and identifies the growth factors of human capital value based on the analysis of experimental application of digital technologies in various economic sectors; determines the specifics of using digital technologies to increase the value of human capital; analyzes the risks of and opportunities for the implementation of new human capital analysis technologies for employers and employees; determines ways to efficiently use digital technologies for human capital management. Methods. This study uses the methodology of the neoclassical school and analysis of human capital to substantiate the improvement of the informational efficiency of labor markets and targeted human capital management using modern digital technologies. Results. The author proves that the digital economy increases the mobility of human capital, offering opportunities for entering global markets. The digital economy forms a new intellectual and information space by creating virtual services for multiplying the value of human capital, at the same time generating new risks of human capital management. Analysis of the contemporary approach to human capital management determines the leading role of convergence of digital technologies in their impact on the increasing efficiency and transparency of labor markets. It is substantiated that digital technologies allow for more detailed segmentation of employees and, consequently, more precise identification of their human capital. Conclusions. Digital technologies rationalize the formation of efficient combinations of human resources into motivated project teams by structuring large amounts of data. The digital economy creates an environment of digital services that enable integration of human capital and smart machines into the global digital space, thereby creating the prerequisites for using increasing amounts of data for the assessment and prediction of sustainable economic development.

The presented study is relevant due to the new types of financial intermediaries and products generated by the information society, which drastically change the organization and structure of the monetary sphere. Until recently, its institutional form has been formed by banking institutions, but now they are challenged by specialized non-banking financial and credit institutions focusing on attracting clients via Internet and oriented towards modern information and communication technologies. Aim. The study aims to determine the trends of digitalization of the monetary sphere in the context of formation of the information society. Tasks. The authors identify the reasons and conditions for the emergence and popularization of digital currency, including cryptocurrency, and trends in the development of payment systems based on electronic currency and establishment of new forms of financial intermediation. Methods. This study uses general scientific methods of cognition to assess the potential effects of implementation of advanced financial technologies on the transformation of monetary relations in the context of the forming information society. Results. According to the results of the study, the following trends in the digitalization of the monetary sphere can be identified: emergence and popularization of digital currency, including cryptocurrency; development of payment systems based on electronic currency; emergence and development of new forms of financial intermediation. In the nearest future, blockchain-based ICO, crowdfunding, and crowdinvesting have the potential to rival credit organizations in the field of payments and attraction and investment of temporarily free funds. Conclusions. In the foreseeable future, the blockchain technology has the potential to become a conceptually new institutional environment for building monetary relations based on a brand new system of trust. While the existing system of trust in banks is reputation-based, trust in a blockchain system is based on the mutual control of its participants, regardless of their individual financial interests. Further studies should focus on finding ways of integrating the banking business with non-banking financial intermediaries based on the emerging new components of the information society.

The presented study describes the key problems of economic cooperation between Russia and the least developed countries of Indochina, overcoming which is a crucial task for the Russian economic diplomacy. Aim. The study aims to summarize the recent experience of Russia’s trade and economic cooperation with the countries of Indochina, which are the least economically developed ASEAN members. Tasks. The author identifies the key problems that hinder the development of cooperation between the two studied countries, formulates and substantiates proposals for the development of a mechanism for expanding economic cooperation between Russia and the countries of Indochina. Methods. This study uses structural, dynamic, statistical, and economic analysis to analyze the specific features of the current state of foreign trade and foreign economic relations between Russia and such countries of Indochina as Myanmar, Cambodia, and Laos. Results. The analytical study has revealed external factors that have positive and negative effects on the development of economic relations between the countries. The perspective directions for enhancing cooperation are determined, and measures for expanding economic cooperation are proposed, including the Roadmap and the Joint Cooperation Framework developed by the author. Conclusions. With clear understanding of the goals and potential directions of cooperation, mutual interest and amalgamation of the countries’ experience should drive the cooperation between Russia and the countries of Indochina in the medium term, providing a solid foundation for mutually beneficial economic integration in the future.