ACTUAL PROBLEMS DEVELOPMENT OF ECONOMICS
The coronavirus pandemic has changed the macroeconomic situation worldwide, and for Russia these changes can be particularly dramatic. Over the past seven years, the Russian economy has been stagnating, with all the associated negative trends - capital outflows, declining investment in fixed assets and human capital, and progressive aging of fixed assets. What makes the current situation difficult is the sharp decline or even complete lack of income in the industries most affected by the pandemic shock. This has already led to the mass withdrawal of many small and medium enterprises with no reserves from the market, disruption of production linkages, increased unemployment, and, ultimately, increased poverty.
Aim. The presented study aims to summarize, assess, and develop proposals for improving the system of anti-crisis social and business support in Russia with allowance for foreign experience and the fiscal capacity of the monetary system of the Russian Federation.
Tasks. The authors examine theoretical concepts that determine the types of economic shocks associated with the pandemic; analyze the predicted impact of COVID-19 on GDP growth in developed and developing countries; consider the main fiscal and tax incentives in international practice; assess the scope of incentives in various countries and in Russia; describe anti-crisis measures taken in Russia at the federal level and in the Kursk region; identify key directions for improving the mechanism and tools of credit and tax policy implementation in Russia.
Results. The study determines the potential revenue losses of the Russian budget system and compares Russian practices at the federal level and in the Kursk region with foreign experience. On this basis, the authors assess the effectiveness of anti-crisis measures in Russia with allowance for the requirements and capacity of the fiscal response of the budget system. It is established that the most efficient option involves a comprehensive set of tools to support the Russian economy, some of which would be able to compensate for reduced demand, while others would support businesses and families in the affected sectors of the economy. To this end, it is necessary to continue using various channels to provide support for affected consumers, including by easing monetary policy, granting installments on loans, taxes, utility bills, and direct budgetary and extra-budgetary funding of families left without sources of income.
Conclusions. Analysis of the current economic situation in Russia shows that the unique scale of the COVID-19 threat calls for systematic government support measures. The spread of the pandemic crisis and restrictive measures has affected all sectors of the economy. This is why national regulatory and administrative authorities have been taking unprecedented measures to support the population and business since the early days of coronavirus detection in the country. Funds from budgets of all levels and social extra-budgetary funds have been allocated for this purpose, and commercial banks act as guarantors in preferential loans. These circumstances raise the controversial issue of the scope of incentives that can be allowed and whether it can coincide with the scope of necessary anti-crisis measures. The authors provide answers to these questions in this study.
WORLD ECONOMY
The presented study addresses the problems of economic security in the countries of the Eurasian Economic Union (EEU, Union). The subject of the study covers the following EEU member states: Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia. A system of indicators and threshold parameters for assessing the level of economic security of the EAEU member states are proposed.
Aim. The study aims to examine and substantiate optimal approaches and methods for solving economic security problems in the countries of the Eurasian Economic Union.
Tasks. The authors analyze data of the economic security system of the EAEU countries; develop a set of indicators and threshold parameters for assessing the level of economic security in the EAEU countries; formulate recommendations for improving the efficiency of economic security in the EAEU countries.
Methods. The theoretical and methodological basis of this study includes works of Russian and foreign scientists and normative documents regulating economic security issues in the EAEU member states. The study uses the systems approach, comparative method, and general scientific methods — analysis and synthesis, juxtaposition and comparison, systematization and generalization of the obtained data. Results. The authors have obtained the following results in terms of approaches and methods for assessing the efficiency of economic security in the EAEU countries and prospects for its improvement. To develop a unified concept (strategy) of safe socio-economic development for the EAEU countries, it is necessary to systematically monitor economic security indicators that reflect the specific features of each country of the Union. For an in-depth study of issues related to ensuring economic security in the EAEU countries, it is advisable to introduce a more detailed list of indicators of safe economic development. The system of indicators for assessing the economic security of the EAEU countries proposed by the authors of this study does not claim to provide an exhaustive characterization of the problems raised, but it is one of the possible approaches to solving them. To improve the quality of monitoring in this field and the objectivity of assessment of processes that could destabilize the economy of the EAEU countries, it is advisable to develop a common methodology for determining the threshold values of the indicators proposed for economic security assessment. In the absence of such a methodology, it is difficult to develop and implement methodological approaches to assessing economic security at all levels of management.
Conclusions. The theoretical and practical significance of this study consists in the development of new approaches and methods in the examination of the assessment, indicators, and ways of improving the efficiency of economic security in the EAEU countries. The results and major conclusions are presented in the scientific publications by H.S. Pak, E.V. Ushakova, V.A. Plotnikov, et al. Currently, there is no established set of criteria for assessing the level of economic security. Comparative analysis of the existing methods of economic security assessment has revealed a number of proprietary methodologies (a group of indicators based on two crisis levels by L.A. Abalkin, a set of indicators by S.Y. Glazyev, indicators of economic security by E.A. Oleynikov). However, these methodologies do not fully reflect the development dynamics of the process of improving economic security efficiency with the indicators proposed by the authors. Threshold parameters are established by an expert method, which increases the degree of subjectivity in the assessment. A unified system of indicators needs to be developed to assess the efficiency of economic security management within a specific territory. The system proposed by the authors, which uses the principle of coordinated integration cooperation between the EAEU countries, would make it possible to determine and assess the risk of a potential threat and select the optimal set of preventive measures for a joint response to various threats to the national security of the Union's member states. On this premise, each country of the EAEU should be able to overcome the crisis and set the national economy on the path of sustainable economic growth in accordance with the national economic development strategy.
The presented study analyzes the specific features of economic cooperation of Russia and China with the countries of Central and Eastern Europe (CEE). In recent years, China has begun to actively cooperate with the former socialist republics of Central and Eastern Europe, offering them new institutional projects, such as the Belt and Road and 16+1 initiatives. At the same time, the CEE region has been distancing itself from Russia — it's once main economic partner — for a number of political reasons. Russia needs to maintain its standing in the region of its traditional external interests. This makes the analysis of the specific features of China and Russia's strategies for cooperation with the CEE countries relevant and practical.
Aim. The study aims to analyze the specific features of economic cooperation of the People's Republic of China (PRC) and Russia with the countries of Central and Eastern Europe, assess the efficiency of their cooperation, and examine the existing problems.
Tasks. The authors determine historical and strategic prerequisites for the development of Russia and China's cooperation with the countries of Central and Eastern Europe; examine the institutional framework of interaction between the countries under study; assess the dynamics of changes in the volume and structure of Russia and China's trade with the CEE countries; analyze the dynamics, priority sectors, and regional structure of direct Chinese investment in the countries of Central and Eastern Europe; assess the problems in Russia and China's cooperation with the CEE countries and prospects for further development of their interaction.
Methods. This study uses such research methods as verbal and statistical analysis, observation, synthesis, generalization, description, graphical modeling, and data classification.
Results. Central and Eastern Europe currently occupies one of the leading positions in China's foreign policy. After a long period of stagnating economic cooperation, relations between China and the CEE countries have entered a new stage within the framework of established institutional formats. The 16+1 strategy has been proposed, and the CEE countries have been included in China's Belt and Road Initiative. The pattern of economic interaction between Russia and the countries of Central and Eastern Europe in 2005-2018 is cyclical. Political factors have a significant impact on Russia's cooperation with the CEE.
Conclusions. The lack of diverse tools for economic cooperation between Russia and Central and Eastern Europe, combined with Russia's low investment opportunities, prevents this cooperation from fulfilling its potential. Russia needs new institutional formats of interaction with the countries in this region, similar to those introduced by China.
DIGITAL ECONOMICS
Aim. The presented study aims to determine the impact of artificial intelligence as a modern breakthrough technology on productivity, to explore how the implementation of artificial intelligence technology will affect the preservation of jobs in different industries, what opportunities it will create for business in terms of increasing productivity along the entire value chain, and how this will affect GDP growth and key economic indicators in various countries.
Tasks. The authors identify priority directions for the development and implementation of artificial intelligence in various economic sectors; analyze econometric results obtained during previous studies; substantiate the advantages and opportunities of artificial intelligence to facilitate its implementation in the business processes of organizations.
Methods. This study uses the methods of analysis, systematization, and correlation analysis.
Results. Various definitions of artificial intelligence, levels of its functionality, and fields of application are analyzed. The ways and prospects of using artificial intelligence in different countries are examined regressively by industry and geographical region, with an emphasis on the ways of using artificial intelligence systems (wired/special and adaptive) and automation technologies in the implementation of artificial intelligence. The potential effects of artificial intelligence at each stage of the company's value chain are described. Examples from different industrial sectors are provided. Based on the correlation analysis, the relationship between the implementation of artificial intelligence and productivity growth is presented.
Conclusions. Implementation of artificial intelligence has a global economic impact on key economic indicators such as employment and GDP, which is especially important in the current crisis situation. The effect of artificial intelligence should be enough to maintain the rate of economic growth in the long term. The direct impact of artificial intelligence on GDP is due to increased income and employment in firms and industries engaged in the development or production of artificial intelligence technologies. Secondary (indirect) effects will come from other sectors that use certain artificial intelligence technologies to increase the efficiency of their processes and solutions and improve the accessibility of information. Regions implementing an artificial intelligence technology of higher quality can expect its impact on labor productivity to be even more significant.
THE INSTITUTIONALIZATION OF ECONOMICS
The presented study examines the environmental sector of the business economy in the context of proportionality of economic growth. Identification of this sector calls attention to persistent disparities associated with the practical implementation of sustainable development. It is important to further develop methods for assessing the ecosystem effects of development due to the lack of environmental adaptation of the results of economic growth. Approaches to the examination of proportional growth at different levels allow us to confirm these challenges. Disparities are identified at all levels of the economic system: nano-economic, micro-economic, meso-economic, macro-economic, and mega-economic. Fundamental approaches to examination involve using the multi-factor production function, including the environmental factor of economic development. Implementation of a mechanism for managing the development of the environmental sector of the business economy involves the development of financial and non-financial instruments.
Aim. The study aims to determine the mechanism of occurrence of disparities associated with the development of the environmental sector of business and to propose approaches to assessing its implementation and specific instruments that could help solve the problem of proportional development within the framework of the sustainable development concept.
Tasks. To achieve the set aim, the authors analyze the development of the environmental sector of the business economy and define the features of environmental management; present financial and non-financial instruments for the management and support of environmental business and identify problems and opportunities of their successful application at all levels of the economy to improve the rate and quality of economic growth in Russia.
Methods. This study uses analysis and synthesis in comparative statics and in the dynamic aspect, with allowance for historical, systems, and environmental approaches and production function modeling.
Results. The authors prove that economic growth in the context of economic digitalization should be considered within the framework of carbon neutrality or environmental adaptation. Non-financial instruments are not enough for managing the development of environmental entrepreneurship. Achieving the proportionality of development would lead to the growth of environmental entrepreneurship, ensuring an inflow of investment that would multiply the country's gross domestic product (GDP); innovations related to digitalization would create conditions for sustainable economic development.
Conclusions. The conducted study substantiates the need to use financial and non-financial instruments for managing the development of environmental entrepreneurship in Russia in order to eliminate the constantly emerging and existing disparities in economic growth. The main exogenous and endogenous parameters of the production function are identified with allowance for the environmental multiplier.
The presented study examines the major problems in the Russian fashion industry and directions of its development according to the Strategy for the Development of the Light Industry of the Russian Federation until 2025; provides examples of innovative materials and technologies; analyzes the issues of environmental friendliness of textile and clothing manufacturers.
Aim. The study aims to substantiate promising directions and trends in the fashion industry with allowance for the specific features of the Russian market.
Tasks. The authors characterize the fashion industry as a sector of the modern economy; describe trends in the development of the fashion market in the cultural and historical context; identify current trends in the fashion market; describe the existing innovative solutions in the fashion industry.
Methods. This study uses the methods of information analysis and synthesis of new knowledge to describe modern innovative solutions in the fashion industry, implementation mechanisms and advantages of cluster policy.
Results. The fashion industry exists in the context of severe competition, economic instability, technological and social changes. This determines the key role of branding, economic efficiency, and compliance with environmental standards in gaining competitive advantages.
Conclusions. In the post-quarantine period resulting from the removal of restrictions aimed at preventing the spread of COVID-19, successful operation of fashion industry enterprises would require adherence to the principles of economic efficiency and environmental safety of products, new managerial and technological solutions, and state support for the light industry.
NATIONAL ECONOMIC POLICY AND CORPORATE MANAGEMENT
The presented study examines the role of machine-building enterprises in the national economy and the effects of development factors on their performance.
Aim. The study aims to determine the degree of influence of external factors on the operation of machine-building enterprises.
Tasks. The authors identify various effects of external and internal development factors of machine-building enterprises in the system of macro-, meso-, and micro-levels.
Methods. This study uses general scientific methods of cognition to examine the role of machine-building enterprises in the national economy in various aspects. Some problems are solved using the methods of comparison and analysis. The information base of the study includes provisions of Russian and foreign theory of management of economic entities under market conditions; factual materials describing various aspects of operation of Russian machine-building enterprises; data from statistics agencies.
Results. Machine-building enterprises are presented at three structural levels: first, as a key segment of the national economy, a foundation of modern industry and a source of innovative development of the economy as a whole; second, as a sophisticated complex consisting of twelve large integrated industries and over a hundred specialized sub-sectors; third, as a machine-building enterprise that is now a part of an integrated business structure (corporation). In modern economics, the three structural levels mentioned above correspond to three groups of scientific research in machine-building: macro -, meso-, and micro-economic. The concepts of external and internal operating environment of machine-building enterprises are substantiated. The authors note that in the restructuring of machine-building enterprises it is important to take into account the diversity and specific effects of these factors on enterprises and to neutralize negative and enhance positive external forces affecting the economic entity under restructuring.
Conclusions. A comprehensive examination of machine-building enterprises as a part of the macro -, meso-, and micro-level of the national economic system makes it possible to determine the major effects of external factors on their development.
The presented study examines standardization procedures as an integral element of the institution of planning with regard to public and municipal procurement in the Russian Federation.
Aim. The study aims to identify the specific features of formation and establishment of requirements for the goods, works, and services being procured for public and municipal needs and their pricing. Tasks. The authors analyze approaches to standardization in public and municipal procurement; systematize tools for the standardization of costs and properties of the goods, works, and services being procured; identify problems in the formation of requirements for the goods, works, and services being procured and outline ways to solve them.
Methods. This study uses the methods of the institutional approach to the examination of economic phenomena and processes as well as specific methods of structural, economic, legal, systems, and comparative analysis and expert assessment.
Results. It is established that the current system of public and municipal procurement in Russia has a number of flaws that reduce its efficiency. One of the ways to modernize this system is to improve planning, which requires updating approaches to standardization. The most severe problems include the improvement of standardization of costs and properties of the goods, works, and services being procured for public and municipal needs (including substantiation of prices for the subjects of procurement). The solution to the latter problem can be considered as a method of indirect regulation (through the establishment of de facto consumer standards) of production activity in the economy at the micro-level. In the digital era, the development of standardization in procurement is based on the use of unified information systems and catalogs of the goods, works, and services being procured. At the same time, these technical instruments are not yet perfect and in some cases may reduce rather than increase the efficiency of public and municipal procurement. To this end, the authors propose measures aimed at modernizing these instruments.
Conclusions. There are a number of problems in the field of standardization of procurement processes, which reduce the efficiency of the examined system. In particular, the issues of cataloging goods, works, services and setting price ceilings need to be addressed urgently. Improving standardization as an element of public and municipal procurement planning is an important and necessary step in improving the validity of budget appropriations allocated for these purposes and increasing the efficiency of their use.
The presented study examines approaches to the organizational structure of the business and the history of development of the corresponding schools of scientific thought and business practices.
Aim. The study aims to track changes in theoretical and practical approaches to organizational structure.
Tasks. The authors examine approaches to the organizational structure of the business and describe those that remain relevant at present; show the history of development of scientific thought on company structure and strategy and identify the most significant works in this field; conclude which approaches (structures) are the most important and promising with allowance for real business practices.
Methods. This study uses the methods of information analysis and subsequent synthesis of new knowledge in the form of the authors' conclusions and predictions based on relevant scientific publications of Russian and foreign authors, including original publications in English and French.
Results. The major types of organizational structures are briefly described, and a review of the history of development of approaches to business structure and strategy is provided.
Conclusions. There is a direct correlation between the development of the theory and practice of organizational structures and the development of economic and social processes. The emergence of network structures naturally and logically follows from the history of development of previous types of structures. Network structure is the most progressive and promising form of organization for modern companies. Further research is required in the field of network business structures, their history, and modern usage practices.
FINANCES AND CREDIT
The presented study examines the mortgage market in the context of the market economy and digitalization of business processes.
Aim. The study aims to analyze the impact of digitalization processes in the banking sector on the development of banking services and products, in particular on mortgage lending.
Tasks. The authors determine the main causes and factors of the development of mortgage lending in the Russian Federation.
Methods. This study uses the methods of analysis, synthesis, comparison, as well as logical and systems approaches.
Results. The increasing role of mortgage brings the assessment of the potential of mortgage lending to the forefront. Examination of the mortgage mechanism is important primarily from the perspective of potentially solving one of the most acute socio-economic problems in Russia - the housing problem. Development of electronic mortgage lending enhances the bank's competitiveness and increases customer loyalty.
Conclusions. The problem with the development of mortgage lending consists in the lack of banking applications that would fully satisfy the needs of credit institutions and the bank's customers. There-fore, banks choose to issue loans “the old way” or work with “advanced” users. Automation of business processes is one of the most promising areas for the development of banking and mortgage lending.
MATHEMATICAL MODELING, SYSTEM ANALYSIS
The presented study addresses a crucial problem for any type of passenger and cargo transport, which is filling the available capacity in an optimal way. Solving this problem for passenger aircraft involves rationalizing the potential of the aircraft's commercial capacity by combining the cargo and passenger components of payload. Examination of dispatch management processes associated with en route boarding on passenger flights shows that the key problems of related cargo services are caused by the lack of reliable assessment of the cargo capacity of passenger aircraft. The working hypothesis of this study implies that it is possible to obtain a reliable estimate of the weight characteristics of available capacity by processing post-flight statistics.
Aim. The study aims to examine the rationalization of the commercial capacity potential of passenger aircraft, which can be achieved by answering the question of how a passenger airline can reliably assess its cargo potential.
Tasks. To achieve the set aim, the authors comparatively analyze methods used by airlines to assess available capacity parameters with the actual characteristics according to post-flight statistics and further examine them using standard methods for processing statistical information.
Methods. This study uses multi-dimensional regression analysis along with standard scientific methods of cognition.
Results. The “weight” structure of a passenger flight is analyzed; all independent variables are examined using the multi-dimensional regression equation, and the most significant factors are identified; the weight parameters of available capacity are estimated with several levels of reliability at different levels of passenger sales.
Conclusions. The final model based on post-flight statistics shows an acceptable convergence of estimated and actual characteristics. Its practical application can improve the commercial efficiency of en route cargo services provided by passenger airlines by allowing managers to make informed decisions.
POST-GRADUATES’ RESEARCH EFFORTS
The presented study addresses the theoretical issues of the evolution of scientific research of entrepreneurship in the Russian Federation.
Aim. The study aims to examine the problems and prospects of domestic enterprise development.
Tasks. The author analyzes and summarizes existing theoretical approaches to defining the economic essence of entrepreneurship; identifies major stages in the development of the legal framework of entrepreneurship in Russia; summarizes Russian experience of enterprise development.
Methods. This study uses comparison, historical and logical methods, analysis and synthesis.
Results. The major problems of improving legislative regulation of entrepreneurial relations and its prospects are determined.
Conclusions. Possible ways to overcome the existing problems of entrepreneurship in the near future are identified.