Articles

In this paper, the model of partial equilibrium of the export-oriented market has been developed. The research methodology based on the development of the duopoly model made it possible to significantly expand the analytical capabilities of the export-oriented market model. The new formulation takes into account the flows of imported products to the domestic market of the exporting country, which allows analyzing a wider range of possible scenarios. Model estimates showed that in a state close to equilibrium, it ensures the fulfillment of the following specific relationships: 1) the external supplies of the exporting country are positively related to their own production volumes. For the dependence of the external supplies of the exporting country on the volume of output in the global exporter, the conditions are specified under which it has a negative or positive relationship. In general, the nature of this relationship depends on the size of the exporting country's market, and in most cases this relationship is negative; 2) the import of the exporting country in equilibrium conditions positively depends on the output of the global exporter, solutions are found in which the dependence on the output of the exporting country can be both negative and positive; 3) the price of the domestic market of the exporting country is negatively related to the output of the global exporter, while its relationship with the production of the exporting country is negative in most cases. On the basis of the obtained model, a number of scenarios are analyzed in which the impact of supply and demand shocks on the export-oriented market is considered. In order to test the model, we considered a scenario associated with a drop in global production on the example of the barley market, which basically confirmed the adequacy of the model. The theoretical significance of the study lies in substantiating the nature of the relationships that arise in the sales markets of the exporting country, in particular, depending on the size of the exporter's sales market. The practical relevance of the model lies in its great scientific potential for solving problems related to assessing the impact of supply and demand shocks on the domestic market, with the development of measures to stabilize it.

Tightening climate policies in some countries brings about a need to toughen them in others. More stringent requirements for national producers of carbon–intensive products within one country, for example, in the form of increased coverage or level of domestic carbon price, stimulates partial replacement of domestic production with foreign analogs from the countries with relatively looser greenhouse gas emissions regulation. This phenomenon is referred to as “carbon leakage”. This paper systematizes practical and theoretical approaches to combat “carbon leakage” and compares these approaches in terms of possible implications for a longterm social and economic development of Russia. The authors examine exceptions to the general rules of emissions regulation for some vulnerable industries subjected to “carbon leakage”, implementation of cross-border carbon barriers in trade, formation of climate clubs of countries and the introduction of a global minimum carbon price. Specialization in producing and exporting carbon-intensive products leaves no opportunity for Russia to stay aside of the development of the global system of greenhouse gas emissions regulation. The findings show that introducing a global minimum price for carbon seems to be the best alternative to the formation of a climate club, which may be established if other countries importing fossil fuels and carbon-intensive products join the EU carbon border adjustment policy.

Effective national cap-and-trade system involves accurate projections of greenhouse gas emissions for the national economy as a whole and by industry. The main source of carbon dioxide emissions in most countries of the world (including Russia) is the energy sector with traditional fuels (coal, gas and oil). The objective of the paper is to forecast energy emissions of carbon dioxide in the Russian Federation by applying adequate economic and mathematical modelling methods. To achieve it, two hypotheses are consistently put forward and tested: the possibility of building a medium-term forecast of the indicator as a result of correlation and regression analysis and the one based on the formation of a Bayesian ensemble of artificial neural networks. Both hypotheses are confirmed in the empirical study. However, the second method provides a higher degree of accuracy in approximating statistical data. Therefore, within the framework of this article, the formation of medium-term forecasts of energy carbon dioxide emissions in Russia is made with the help of neural network modeling. Highly accurate forecasting provides a scientific basis for effective policymakers’ decisions in decarbonisation of the national economy.

The implementation of import substitution and ensuring technological sovereignty is not an easy task for the Russian economy, which correlates with intensification of innovation activity in all spheres of national economy. One of the major factors to ensure necessary dynamics in transforming the domestic economy is the availability of free exchange of innovative technologies among subjects of various sectors in the economy provided by the conception of open innovations. Current models of innovation systems, with prevailing state financing of R&D, are not effective enough, which creates prerequisites for involving credit organizations into this area in order to intensify R&D, especially in the areas essential for practical activities. The authors propose developing and adapting the open innovation model in relation to the participation of credit institutions. The purpose of the study is to substantiate the role of credit institutions as an ecosystem actor in the open innovation model. The research methodology is based on the analysis of theoretical and practical works on open innovation theory in order to apply lending secured by the results of intellectual activity. The major results of the study are based on (i) considering the open innovation model to properly include credit institutions as an ecosystem actor, (ii) proposing possible solutions regarding the cooperation of actors in innovation processes, and (iii) selecting innovative projects for possible secured lending which will accelerate the processes of innovative development. The obtained results can be used for further development of this area and in practice of the subjects of innovation activity.

Ensuring national security is the basis for sustainable socio-economic development. This study aims to show the critical shortcomings of the current national security system and to reconfigure the mechanisms for building and regulating both individual types of security and the national security of the Russian Federation at large. The methodological basis of the study is scientific and regulatory documents on ensuring security, sustainable development. The main scientific tools of the work are: economic and systemic types of analysis, including conceptual content analysis and information modeling. The study clearly shows that ensuring national and individual types of security requires systemic consideration, taking into account the multidimensional nature of emerging relationships and its implications. National security is defined as a state of protection from internal and external threats, in which all types of security are systemically provided and the stability of its indicators is maintained. The author proposes a multidimensional discrete model of national security, characterized by the typology of protected objects, the level of consideration, the type of security provided, and the system of regulatory tools. The structuring of the selected components of the national security system has been carried out. To increase the reliability of security level assessment and better use of regulatory tools, additional parameters are proposed that affect the overall system for ensuring national security. The results obtained have a wide application for policymakers, research and educational organizations — all those involved in ensuring a particular type of security, including the development of regulatory documentation, scientific and educational publications.

The main purpose of the study is to identify whether there is a connection between different demographic values, as well as socio-demographic characteristics of social network VKontakte users. Based on a large data set of user comments of two types — parental and childfree groups, — the paper identifies the links between different types of demographic values — positive or negative attitudes towards parenthood, family creation, having children, attitude towards healthy lifestyle, as well as between values and socio-demographic characteristics such as gender, age, marital status. Drawing on a logit analysis, the authors construct socio-demographic profiles of so-called “pronatalists” (parental groups) and “anti-natalists” (childfree groups) in Russia and prove the correlation between different types of values. For example, positive attitudes towards parenthood, childbearing, and family creation (reproductive and family values) are associated with negative attitudes towards smoking and alcohol (positive vital values). The marital status is also associated with these positive values (which indirectly indicates a connection with matrimonial values). A connection was found both between different types of demographic values of the social network users of selected demographic groups, and a connection between the socio-demographic characteristics of users and their values. For example, women and older people (in some model specifications) are more prone to family values. Additionally, the study confirms the quality of the choice of demographic groups in social network by names and declared values— a connection is traced between belonging to pronatalist or antinatalist groups and value attitudes about life priorities (family or leisure and self-development).

To make the transition to a low-carbon economy and sustainable transport system, to solve environmental and climate problems, many countries are replacing traditional cars that run on petroleum fuel with electric cars. Unlike vehicles with an internal combustion engine (ICE), electric vehicles` emission from operation phase are practically zero, but this is not the case if we consider a full life cycle. In this paper, we briefly describe the electric vehicle market, examine the life-cycle emissions of electric cars and ICE cars, propose a methodological approach to the economic assessment of negative impact of emissions from road transport, carry out a comparative assessment of external costs of cars that run on traditional and alternative fuel. To achieve these goals, we use the methodology of the Organization for Economic Cooperation and Development (OECD), which allows to calculate country-specific and time-adjusted value of a statistical life, and consider the characteristics of Russia`s energy balance and automotive market. The results demonstrate that, in general, under Russian conditions, electric cars are more environmentally friendly and contribute less to climate change than cars with internal combustion engines. The external costs caused by life-cycle greenhouse gas emissions of an electric car are lower than similar emissions from a traditional car by about 70 rubles per 100 km. The external costs caused by emissions of pollutants from the electric car operation phase are lower than external costs caused by emissions from an ICE car by approximately 20 rubles per 100 km.

The field of STEAM (Science, Technology, Engineering, Arts and Mathematics) is one of the most promising in education. These professionals are employed in high-tech industries and creative industries that determine the future of the global economy. The article for the first time presents a detailed analysis of the development of this sphere based on original approaches, both in general in the Russian Federation and in the context of regions. In Russia more than half a million people are annually admitted to STEAM training courses for higher education programs. Contrary to the all-Russian trend of reducing the number of students, enrollment for these programs has been steadily growing. According to the latest data, about 36% of university graduates in Russia have a specialty within STEAM; for comparison: in South Korea, Singapore, and Germany this share is above 45%. The largest share of specialists is trained in the Tomsk region, St. Petersburg, and Moscow. At the same time, the number of STEAM graduates decreased in 41 Russian regions. In 2022, the risks for the STEAM industry in Russia have increased markedly: there is a migration outflow of the most qualified personnel, and domestic demand for them is declining. In general, for six months (from February to August), the total number of vacancies in the Russian labor market decreased by 9%, while STEM - by 23% (IT - by 32.5%). This may affect the long-term scientific and technological development of the country: our calculations show the importance of STEAM for creating start-ups, increasing publication and inventive activity. In conclusion the article proposes some measures on the development of STEAM as a tool for long-term development and a way to adapt the country to external shocks.

Investment excitement and industrial scale of digital coins “production” cause concern of experts and researchers in the field of economics, ecology, energy, regulation and others. The purpose of the paper is to structure and improve the quality of the discourse around cryptocurrencies. The paper notes the heterogeneity of the phenomenon under consideration, presents a classification of cryptocurrency projects, considering their architectural and technical features, identifies the main interest groups in the industry, highlights structural alternatives for regulating crypto industry, identifies some socioeconomic effects that arise with the development of crypto industry. The results obtained and the directions for further research can be useful in developing economic theory and forming approaches to regulate the circulation of cryptocurrencies and activities in cryptocurrency industry.

At present many markets may be viewed as multisided with platforms where different groups of agents interact. However, many aspects of these markets are still not thoroughly studied, including the competition between platforms with the goal to increase user base. As noted in many theoretical works, due to the phenomenon of zero prices, non-price factors of competition play a leading role on such markets. Among others the importance of exclusive contracts is highlighted in scientific literature, but empirically their effect on the user base has not been fully estimated. In this study we examine video game market since its importance in global economy has increased in the recent decades. The effect of exclusivity on the total video game platforms’ sales and on the sales volumes of individual video games is empirically estimated. As an additional control variable, the age rating of video games is included, which was not considered in prior works. Drawing on the results of estimating econometric model, the author concludes that for platforms on the video game market it is advantageous to increase the share of exclusive contracts, but this relationship is characterized by diminishing returns to scale. On the other hand, for video game developers exclusive distribution on a particular platform results in lower overall sales. Based on these results it can be concluded that platforms can compete for exclusive contracts and in the process of negotiating for exclusivity a compensation from the platform should be provided to video game developers.

The research examines the estimation of structured products hidden costs on the Russian market. Hidden costs are calculated as a difference between the notional value of structured product and present value of all its components. The studies conducted on European structured products market prove that hidden costs decrease with expanding market and increasing number of issuers, but increase with growing sophistication of structured products. The sample consists of 174 structured products currently presented on the Russian market. There are capital protected notes with participation. The underlying assets are indexes, stocks, depositary receipts, stocks of funds or ETFs. We estimated the hidden costs of each of these products drawing on the methodology which divides invested capital into three parts: deposit that guarantees capital protection, call option to obtain a part of underlying asset growth and hidden costs. We argue that hidden costs by sample are higher than median hidden costs on European market. It could be explained by short period of Russian structured products market existence and low number of issuers. The results obtained could be used by regulators, structured products issuers, investors and all those interested in structured products

Economic instability forces governments to urgently support businesses and the public at the expense of budgetary imbalances. Such circumstances test flexibility of fiscal rules — restrictions on the main budget parameters. They are often suspended, the limit values of their indicators are adjusted, temporary concessions for their use are introduced. Both the introduction of such instrument and its sustainability over time depend primarily on the government and policymakers. At the same time world experience proves that budget restrictions supported by the authorities need a complementing system of adaptation and controlling conditions allowing for a better adaptation to economic challenges and following their original task — to ensure medium-term budget balance while maintaining a conditionally constant level of budget expenditures. The subject in the paper is the institutional conditions for fiscal rules’ functioning. The purpose of the study is to identify the institutional framework used to ensure proper performance of fiscal rules and assess its practical applicability in Russia. Using the methods of descriptive statistical and comparative analysis of international and Russian practice in applying fiscal rules, the authors identify and analyze the list of such institutional conditions as medium-term expenditure frameworks, fiscal councils, correction mechanisms, escape clauses. The results of the study consist in formulated required and sufficient institutional framework for effective fiscal rules. Due to the use of only mediumterm budget planning in Russia the remaining three may serve as a guideline for implementing budget restrictions during the current reform.

The traditionally applied approach to determine the boundaries of poverty and the middle class based predominantly on the criteria of income level overlooks a wide group of citizens related to low-income category. The paper examines multicriteria approaches in determining the boundaries of poverty and the middle class which cover social, economic and behavioral factors. As an essential criterion to classify population as a poor class the authors chose behavioral characteristics related to the possibility and propensity for long-term planning. Applied regression analysis confirms the significance of some households’ social and economic characteristics that increase the likelihood of their belonging to a certain population group, such as household size, age of the head of household, education level, professional activity, etc. Based on various methodological approaches, the analysis of the Russian society structure reveals its high polarization where the share of the poor fluctuates from 10% to a quarter of population and even more considering the parameters that determine the quality of life, behavior and self-identification. Drawing on multicriterial approach, the authors propose additional measures of support, which cover not only the poorest segments and large families, but also a significant cohort of low-income citizens, as well as measures that contribute to higher-income work and the increment of human wealth. The analysis concludes with cost assessment of suggested measures and the effect of their implementation on socio-economic development and welfare until 2030.

The article attempts to identify the most significant lessons that can be learned from the experience of Peter the Great transformations— one of the key developments in Russian history that determined the vector of the country's development for a long time. The author considers both positive and negative implications of Peter the Great's reforms, and concludes that the success of Peter I reforms was primarily due to the fact that their focus on the European model of development correlated with internal trends in Russian development at the turn of the 17th–18th centuries, and this is exactly what made Peter I transformations irreversible. Peter's successors, faced with serious financial and economic problems, were forced to make certain adjustments to his transformations, but retained all the main institutions he created. Thanks to Peter's transformations, Russia acquired the status of a great power, which was due to the country's integration into the system of international relations, the world economy and culture, without which the very status of a great power lost its meaning. Thanks to the reforms in economic sphere, the technological gap with the leading European countries was largely overcome, but the priority development of industries focused on military needs and based on the labor of serfs hindered the development of capitalist relations and contributed to the transformation of Russia into a raw material power. At the same time, the pace of economic development remained low, which resulted in a new lag in the next historical stage. Reforms in the social sphere, based on meeting fiscal needs of the state, hampered but could not stop the development of Russian society.

The reign of Peter the Great (1682–1725) is known not only for transforming Russia into a powerful empire but for a radical change in its economy and rapid industrial development. These changes were dictated by the Northern War with the Swedes and Peter's ideas onto how to manage the economy. The article examines two main aspects of the policy — in relation to trade and industry. For Russia’s merchants this era was a difficult time entailing their actual ruin. Huge taxes and various duties were imposed on merchants and townspeople in general with state active intervention in business, taking it away from entrepreneurs and introducing monopolies for purchase and sale of raw materials and goods. Only towards the end of Peter I reign the system of pressure on merchants weakened. Industry followed a different path: the state used all its means to develop manufacturing. Officials took special care of the sectors focused on military needs. The authorities launched a broad program of protectionism, they in every way assisted the organizers of production, with finance, benefits, protecting the enterprises from foreign competition. It resulted in greenhouse conditions for industrial development. A special issue was labor force at enterprises: the government developed the procedure of attaching local peasants to factories, allowing the owners of manufactories to buy out serfs. These measures contributed to the transformation of industry into a kind of serfdom. All this had an extremely negative impact on the formation of Russian capitalism and the future of Russia..

Considering that the bulk of domestic and foreign literature is devoted to reforms in the field of state administration, the creation of regular army and navy, and much less attention is paid to the analysis of the evolution of the agricultural sector of Russia during Peter the Great period and the impact of reforms on this — the most important at that time — sector of the economy, this work aims to contribute to overcoming the said limitation. The article traces the changes in the agricultural sector caused by the reform activity of Peter the Great. It is proposed to divide all the consequences of his reforms into two major groups: intentional consequences, that is, originally conceived by the reformer, and unintended ones, which were side effects of the reforms carried out by the government. Traditionally, Peter's agricultural initiatives are considered either in chronological order or on an industry-by-industry basis. In this article, it is proposed to consider them from the point of view of the tasks that these innovations were designed to solve. It is shown that most of the innovations initiated by Peter were caused either by the increased demand for raw materials and food from industry and new cities or were solving problems related to the on-going wars and therefore were mostly of a shortterm nature. Also in the article, from the point of view of modernization theory, the institutional consequences of Peter the Great's reform activities for agriculture in the Russian Empire are considered. It is shown that institutional reforms had long-term unintended consequences and formed an institutional framework that was not completely destroyed even by the abolition of serfdom. The work provides evidence that the restriction of land ownership rights took place long before Peter's reforms. The data demonstrating rather weak development of the land market in the first half of the XVIII century are given. The article concludes that most of the reforms undertaken during the reign of Peter the Great were a continuation of the trend of previous periods consisting in property rights restricting for both landowners and peasants..

The usual image of Peter I in the current public opinion is the great Russian emperor, who carried out a deep modernization of Russia, borrowing the best examples of Western culture, created a fleet, built a new capital of Russia — St. Petersburg, won a some of major military victories. Nevertheless, many historians assess the achievements of Peter the Great as very controversial: the location of the new capital was chosen very poorly, a sharp increase in tax exemptions repeatedly led to famine in the empire, which, in turn, led to a reduction in the population in the old Russian lands. Subsequently, part of the expensive fleet subsequently rotted, too large an army had to be reduced, the capital returned to Moscow for a while. The sharp strengthening of absolutism was accompanied by an increase in the enslavement of the peasants. Cultural innovations, including education, extended only to a very narrow layer of noble children. The backward class institutions hindered not only technological innovation, but also the freedom of enterprise. The adoption of the Table of Ranks exacerbated the problem of the “principal — agent” relationship, which was accompanied not only by the growth of corruption and favoritism, but also emergence of the dichotomy “rich state — poor population”, which has since become traditional for Russia. Therefore, in the light of the analysis from the standpoint of the new political economy, the assessment of the reforms of Peter the Great looks rather negative, the contribution of this politician looks incomparable both with the achievements of Alexei Mikhailovich “The Quietest” and with the reforms of Alexander II “The Liberator”. However, these statesmen are hardly present in contemporary Russian public opinion. This paradox is revealed in the article through the use of tools of political theology — Peter the Great is a necessary figure in the modern liberal-patriotic “civil religion”, while Alexander II, on the contrary, is associated with the “guilt complex” of the Russian intelligentsia, and his reforms must be characterized in a negative way. This largely predetermines the presets of modern researchers. At the same time, the sacredness of the image.

The system of job positions and ranks, which is currently in operation in modern civil service in Russia, is similar to the Table of ranks introduced by Peter the Great in 1722. This article studies the evolution of this institution, exploring its advantages and disadvantages. The Table of ranks, being a part of Peter the Great’s project of modernization, played an important role in organizing civil service. Civil servant’s career was determined by the length of service, merits and education. Originally, ranks coincided with job positions, but by the end of the XVIII century they diverged, with the length of service becoming a priority for job promotion. The XIX century saw an increase in the number of civil servants and gradual decrease in the share of the nobility in the total number of civil servants. During this period there were several attempts, however unsuccessful, to reform or to cancel the system of ranks. In October 1917 the Bolsheviks cancelled all ranks and titles. In the Soviet period, ranks were established for diplomats and public prosecutors. The system of ranks was renewed in early XXI century with the Federal law on “State civil service in the Russian Federation” adopted in 2004 and several Presidential decrees issued later. In fact, it was a new Table of ranks which was very close to that of Peter the Great’ The number of ranks increased from 14 to 15, some of their names are nearly identical. However, the system of modern job positions is much more complicated than in XVIII century. So far, the correspondence between ranks and job positions is determined only for the top-level positions. The significance of the new Table of ranks for an effective civil service is still to be determined.

The theory of military revolution is known to describe the process of transformation of states in Early modern period with the appearance of armed with firearms regular armies. According to the Brian Downing model, this process consists of several successive steps. 1. The starting point in development is the medieval monarchy, where the power of the suzerain is limited to meetings (conditionally, “parliaments”), where aristocrats predominate, managing the resources of their land holdings. 2. The military revolution downgrades the value of chivalry and requires the creation of a large army of firearmswielding mercenary infantrymen. 3. Funding a new army requires the reallocation of resources to the detriment of the nobility. 4. “Parliaments” resist these demands, with the conflict between the monarchs and the nobility starting. 5. The new army ensures the victory of monarchs. 6. The monarchs abolish “parliaments” or deprive them of real powers that means the victory of absolutism. 7. Further, the victorious monarchs subjugate the nobility, taking away part of their resources. 8. Reforms start, with a new financial system created. 9. New bureaucracy is created, with commoners recruited for positions. 10. The nobility tries to fit into these new structures by taking office positions. The article focuses on testing the Downing model on the material of Peter I transformations and shows that Russian historical process of the second half of the 17th — early 18th centuries actually went through the ten steps mentioned above

In modern Russia Peter the Great, according to representative opinion polls, is considered to be the best figure in the entire history of the country, significantly outstripping in popularity even domestic politicians of the 20th–21st centuries. This very high “folk” reputation significantly contradicts the views of social scientists who see in Peter I not so much a successful national reformer, a “revolutionary on the throne”, but a despot unscrupulous in his means, who for centuries to come linked modernization of the country with increased state coercion and heavy wars. However, comparative approach shows that other countries of catching up development pattern in the XVIII–XX centuries followed as a rule not the path of evolutionary reform but that of radical reforms aimed primarily at strengthening the army. Peter's Russia stands out against this background only in that it was the first to choose “modernization for the sake of military victories” and therefore, since the time of Peter I, remained among the “great powers” despite constant socio-economic backwardness. The legitimacy of this choice can be substantiated with the help of a world-systems analysis that emphasizes the great role of national sovereignty for the success of catch-up modernization. In fact, Peter I chose the war with strong Sweden as a main lever of modernization and a way to radically change the “rules of the game” — not only to open direct trade between Russia and Western Europe, but also to include it in the “great powers”. The example of Peter the Great's reforms, which almost coincided with the Northern War, clearly shows that military mobilization can play the role of a “big push” in a country that is catching up, creating the prerequisites for all other qualitative transformations. At the same time, “modernization for the sake of victories” that took shape under Peter the Great initiated a trend that is dangerous for Russia as a country of catching up development, when its military successes hindered the seemingly unnecessary national modernization, with military failures stimulating it.

The article considers the reforms of Peter I from the standpoint of historical sociology and institutional economic theory with the aim to identify the features of Peter's modernization and its role in forming Russia’s path dependence, and this purpose is realized by comparing it with Stalin's modernization. The study rests on the division of modernization into two types: adaptation and westernization models. This division constitutes the methodological basis of the study and allows further use of comparative analysis in reviewing Peter’s and Stalin’s modernization. Peter's reforms are viewed as adaptive modernization: the 17th century formal institutions of Muscovy were replaced by imported (Western) ones, but at the same time basic components of the political system and political culture were preserved. The reforms resulted in a fully state-driven society and developed economy. Totalitarianism in Russia first took shape in the early 18th century. It combined the archaic institutions of Muscovy newly introduced imported ones. The latter strengthened autocratic rule, powerproperty as an institutional foundation of Russia. At the same time, cultural and everyday westernization was built into Peter's reforms. It subsequently became the basis of in-depth westernization in the form of the release of the nobility from compulsory service. A comparative analysis of the Peter’s and Stalin’s modernization showed that they have both common features and differences. Total nationalization of life, focus on militarization, despotism unite them. However, while Peter's modernization transformed the archaic society, Stalin's one revived the archaic in the place of westernized society of the early 20th century.

The scope of the personality of Peter the Great questions the logic of his large-scale reforms in practical terms. It began along with the war, coincided with the war, and in a number of key issues was determined by the need to wage the war, arm and supply the army, and restructure its management. Attention to his reforms is connected not so much with the anniversary of Peter I in 2022, but with the need to understand the historical path of Russia and to form the country's cultural code under the influence of his reforms. Starting with a humble goal of opening a “window to Europe”, after 1714 administrative reforms became more extensive and comprehensive. The logic of the reforms was determined not only by the aspiration to Europe and not by the teleology of creating an empire. It was more about the pragmatic need to use the window of opportunity to get out of the “ring track” of a vast forest power squeezed by three imperial (regardless of titles) neighbors of other faiths — Turkey, Poland and Sweden. The course and needs of the Northern War to a large extent determined the nature of the reforms, with the success in the war resulting in the formation of the empire. The paper formulates possible alternative ways of Russia's development at the turn of the 16th–17th centuries, uses the methodology inherent in the new institutional economic school to compare discrete structural alternatives that stand in the way of the country and the hero of the article at two critical time points. The reforms outcomes and the war gave the country a chance for development, though a large-scale transition to more mature European socio-economic institutions could not be implemented in this short period and under war conditions.

This paper examines the specifics of interdisciplinary synthesis in modern social sciences. The author argues that currently economists do not “intervene” on to the “territory” of adjacent social sciences but rather export concepts from their disciplines into economics. The article reveals the reasons for the decline in the interest of social scientists in “grand theories” and highlights the factors that conditioned the rise of the so-called quantitative turn in social sciences. The author demonstrates the correlation between the empirical turn in social sciences and the promotion of interdisciplinarity. The analysis allows to state that the main driver enhancing the dialogue between representatives of various scientific fields is the growing unity of the analytical toolkit used by scholars. As a result, more and more researchers identify themselves through the analytical methods they use. Drawing on the papers prepared by the participants of the conference “Paradoxes of Peter the Great’s reforms: lessons for the economy of modern Russia”, held at the Faculty of Economics of Lomonosov Moscow State University on September 21, 2022 and formed this issue of Lomonosov Economics Journal, the author examines the manifestations of interdisciplinary approach in Russian social sciences. It has been identified that, unlike their international colleagues, Russian social scientists are united not so much by common analytical toolkit, but by the desire to fit their research into a broad theoretical framework, which over the past decades is represented by diverse types of institutionalism.

Growing tension around Russia in the global economy, the need to reorient foreign trade flows to countries that differ from Russia in cultural and religious aspects, as well as a growing number of publications aimed at studying economic effects of culture, religion and trust, makes it necessary to conduct a comprehensive analysis of scientific literature on the influence of culture and religion on foreign trade activities. Based on the analysis of religious literature and scientific empirical research and using the methods of systematization, generalization, meta-analysis, conceptual approaches of socio-cultural anthropology and cross-cultural psychology, the paper proposes a theoretical justification for the mechanism of the influence of religion and culture on foreign trade. Two approaches to the influence of culture on foreign trade activity are theoretically substantiated. Within the framework of the first approach, the proximity of cultural values contributes to the growth of foreign trade activity. Within the second framework, cultural openness and tolerance for foreign cultures have limited potential to increase mutual trade. Based on the analysis of scientific and religious literature, three groups of channels of the mechanism of the influence of religion on foreign trade are substantiated. The first group of channels, which are based on a person's psychological perception of God and His deeds, includes: influence through the perception of entrepreneurial risk as God's providence and impact through the fear of trading partners before God's punishment for non-fulfillment of obligations. The second group of channels, the mechanism of influence of which is based on the similarity and difference of religious dogmas, includes: influence based on different religious dogmas, influence through the trust of trading partners due to the similarity of religious values and influence through religious openness and tolerance towards other faiths. The third group of channels, the mechanism of which is based on institutional theories, includes: influence through the development of religious competition, the influence of religious institutions as an alternative to weak state institutions and the influence of religion as the basis of trust between trading partners.

The article discusses the current problems of the development of organic products market. The theoretical part notes the need to diversify agricultural production not only to maintain income and reduce risks, but also to support soil fertility and high yields, which can also be carried out during the transition to organic farming, when the farmer reduces the level of chemicalization of production in order to reduce externalities. The section of the agricultural policy review analyzes the main factors contributing to the development of organic products market, which include the development of a regulatory framework that creates certain rules and characteristics of organic products, as well as various kinds of subsidies that help both support the production of this type of product and consolidate a certain niche in the market for organic products. The study finds that despite high growth rates of organic market in many developed countries, the profitability of such projects as well as the complexity of the transition from traditional technologies to organic farming is debatable.

The article presents a methodology for analyzing the ESG efficiency of Russian cities. According to the authors, ESG assessment of cities is advisable not only when making management decisions, but also when choosing priority projects to improve the quality of life of residents. The purpose of the article is to test the methodology for determining priority projects needed for implementation in Russian cities, taking into account the ESG criterion, as well as to demonstrate a system for ranking cities according to ESG efficiency criteria. The article focuses on the comparison of existing ESG analysis tools of cities. The authors use the methodology of the ESG Index of the VEB.RF as the main tool. The advantage of this Index is determined by its focus on Russian cities. Open database also combines objective and subjective indicators. The article examines the ESG indicators of Yekaterinburg, Pskov and Taganrog. The authors demonstrate that programs for modernization and creation of urban electric transport systems and programs for the construction of social facilities most effectively stimulate the improvement of urban ESG environment and contribute to the sustainable development of Yekaterinburg, Pskov and Taganrog. The ESG rating of Russian cities is presented in the article.

The reorientation of Russian tourist flows to domestic destinations under the influence of the COVID-19 pandemic and the aggravation of the geopolitical situation creates opportunities for expanding the supply in the domestic tourist market. Cooperation between regions and cities in the development and promotion of new tour routes and brands, as well as the joining of new participants to existing formats of joint branding, is becoming relevant. Meanwhile, influence of branding on tourism development indicators in literature is still insufficiently covered, with practically no studies measuring the effects of cobranding cities. The purpose of this study is to explore the impact of the participation of cities in the cobranding association on tourist flows to these cities. The authors focus on the activities of brand managers in creating and communicating city brands, while the tourist flow indicator evaluate the activities results. In the framework of the empirical study, a quantitative comparative analysis of two groups of cities was carried out (group 1 — cities included in the Golden Ring cobranding association, group 2 — cities with similar characteristics, but branded independently). The analysis shows a significant correlation between branding and tourist flows in group 1. At the same time, no such relationship is found for group 2. Thus, the findings suggest that there is a real influence of cobranding strategies on the tourist flows of cities. The results of the study may be a tool to substantiate the feasibility of cities' participation in cobranding associations, which makes it possible to increase the effectiveness of promoting tourist brands of all participating cities.

The article considers the relationship between the consumer’s emotional state and impulse purchases. The authors analyze the effects of the consumer’s impulse behavior on buying food products. According to numerous studies of consumer behavior conducted in Russia, the share of purchases defined as impulse purchases has been steadily increasing. Insufficient understanding of the specifics and nature of impulse purchases may negatively affect both consumers’ well-being, including their psychological and financial state and companies’ financial sustainability in the long term. The article aims to improve understanding of consumer behavior in Russia and identify the relationship between the consumer’s emotional state and impulse purchases of food products. Previous research into the topic has allowed the authors to form understanding of impulse purchases and systematize factors influencing them. The effect of consumer’s emotional state on impulse purchases of food products has also been described. An empirical study including a series of in-depth interviews and a quantitative survey forms the basis for the present research. To identify the relationship between the consumer’s emotional state and impulse purchases of food products in Russia the structural equation modeling method is applied. The result of testing are reveal several alternative models, differences in the patterns of impulse buying behavior of female and male respondents. The research confirms that negative emotions significantly affect sensitivity to visual characteristics of products, impulsivity, and unplanned purchasing with both female and male consumers. Positive emotions, in contrast, demonstrate statistical significance with men solely. These findings can be explained by the consumer’s desire to reduce emotional tension and improve emotional state. The article provides a basis for further research into emotionally driven consumer behavior and improve predictability of purchasing behavior.

The article examines the competition between Russian and foreign manufacturers of road construction equipment in Russia. The subject of the research is strategies for the transformation of business models of manufacturing enterprises in developing countries and emerging markets under the influence of multinational corporations. The methodological basis of the research includes theoretical provisions of strategic management, concepts of business models and economics of industry markets. The paper defines business model transformation strategies based on the application of the co-evolutionary concept of innovation in the business models of companies in developing countries by O. Michalache and H. Volberd, methods of economic statistics and one-factor analysis of variance. The authors put forward and test the hypothesis that international cooperation with foreign companies increases the competitiveness of Russian manufacturers of road construction equipment. Calculations in the SPSS program show that companies outside international cooperation have low market share indicators. Average competitive positions in the road construction equipment market are typical for companies importing parts and components from leading foreign manufacturers. Companies that have established joint ventures with foreign partners or acquired licenses for the production of road construction equipment from foreign manufacturers have achieved the best indicators of competitiveness in the Russian market. The most successful Russian companies have chosen a strategy for adapting the business models of foreign enterprises. This research is of practical importance for the formation of a business model and competitive strategy of Russian companies in conditions of sanctions isolation from the technologies of developed countries and the growth of imports from developing countries.

The development of the pharmaceutical industry is inextricably linked with the development of new types of drugs, the introduction of new technologies, the provision of scientific research in bioengineering and biotechnology, which can be ensured through the continuous development of intellectual capital. Intellectual capital is a capacious and ambiguous concept that, other things equal, is explained by the presence of professional skills and competencies of employees that cannot be separated from them and, therefore, are reflected in the financial statements. For a long time, researchers have been evaluating the impact of intellectual capital on the performance and value of companies in various sectors of economy. This article attempts to look at the problem more broadly by adding the factors inherent in sustainable development and competitive advantages of the company: business model and business strategy to the traditional elements of intellectual capital. The purpose of the work is to assess the impact of business strategy, business model and intellectual capital components on the performance of pharmaceutical companies in Russia. The object of the study is the financial and non-financial reporting of Russian pharmaceutical companies. The subject is establishing the relationship between the disclosure of information on intellectual capital and financial performance, taking into account the business strategy and business model of the company. The methodological basis is the statistical and economic method, namely, the regression of panel data with fixed effects. The results show that most large companies in pharmaceutical sector adhere to the business strategy of “analyzers” and choose the business model of producers of their own drugs. The findings indicate no connection between the company's business strategy and business model and the performance of pharmaceutical companies. Elements of IC have been established that provide competitive advantages for the company in pharmaceutical industry.

The main aim of this research is to identify the differences between a deliberate security strategy and an emergent one. The objective of the study is to demonstrate these differences using the case of an energy security strategy, to determine the main reasons for deviations and to formulate a methodological apparatus for assessing strategic documents. To explore an emergent energy security strategy (as a set of actions by decision makers), the authors suggest to make the analysis the events mentioned in the media (press events) and the amendments to legislation (real actions of decision makers in response to external challenges and threats) made in accordance with actual national security objectives. The authors monitor press events based on keywords that identify the main energy security objectives in accordance with the relevant legal and regulatory framework. In order to test the hypothesis related to legislation, amendments authors disclose the correlation between the selected indicators using a model of linear regression with one regressor. The study distinguishes the differences between deliberate and emergent energy security strategies; analyses legislative amendments that reflect the real efforts of the authorities; in addition, the study analyses legislative amendments aimed at ensuring security; distinguishes the differences between a deliberate strategy and the actual actions of the authorities in the legislative sphere; formulates provisions for an emergent strategy reflecting the real actions and interests of the authorities. The authors reflect the reasons for the differences between deliberate and emergent strategies. The authors build a hierarchy of objectives for an emergent strategy that defines the actual priorities for energy security: domestic economic security, external economic security, tax security, environmental safety. Empirical application of methodological approaches to identifying differences between deliberate and emergent strategies is relevant for participants in investment processes (enterprises and entrepreneurs) as well as for the legitimately elected authorities, with a view to properly reflecting strategic course of actions in official documents in order to ensure the stability of the internal and external political situation.

Despite the growing interest in talent management issues, there is still no consensus in the literature regarding the characteristics and features of talented employees work behavior. One of the approaches stands out as an objective view postulating that there are a set of personal characteristics, which determine an employee as a talented one and influence their labor behavior. This research attempts to identify a list of these personal characteristics and assess their impact on work behavior. The list of characteristics incorporates personality dimensions contained in the Big Five model. As a form of labor behavior is voluntary resignation. The research empirical base is the data on the talent management program at Sheremetyevo International Airport. We constructed econometric probit model, where the fact that a talented employee voluntarily quit during the first year of employment was used as an explanatory variable. The focus on resignations in the first year is related to an attempt to reduce the influence of factors that form sustainable attitudes towards job characteristics — satisfaction and loyalty to the organization. The set of independent variables is represented by organizational and socio-demographic characteristics in addition to personal characteristics. The results confirmed the hypotheses on the influence of higher values of openness to experience, conscientiousness, neuroticism, and extraversion, regardless of the organizational context, on the probability of voluntary turnover. The findings provide an empirical assessment of the objective approach to talent in the Russian labor market and can be used for verification in other corporate contexts or while trying to assess their sustainability with a longer work experience. In practical terms, the findings can be used to develop personalized talent management practices in Russian companies.

The objective of this article is to reveal the most demanded competencies for senior management personnel and to discuss the methods and approaches for assessing such competencies within the framework of Open Mass Personnel Contests (OMPC). The article provides an overview of modern research on competencies of business leaders, as well as literature on approaches to assessing the competencies of civil servants: the focus of researchers is increasingly shifting to the skills and abilities of a manager to create value through conscious interaction with the team and stakeholders. The paper presents the approaches to assessing competencies of candidates for senior management positions at the contest «Leaders of Russia». It is shown that, other things equal, persons representing senior management personnel in large organizations were more successful than other groups at different stages and were more likely to win the competition. This indicates that the procedures of the competition, most likely, contributed to the achievement of the main goal - the selection of people with competencies corresponding to the top management. Basic socio-demographic characteristics (gender and age) were not associated with the success of the selection process. The author concludes that an open competition with a transparent way of assessing competencies using different methods both allows to select promising managerial personnel and ensures inclusiveness in the selection for senior positions. At the same time, factors such as correct conducting of all stages of an OMPC, ensuring sufficient quality and quantity of candidates at the entrance, and careful selection of competency assessment tools are of great importance.

The concept of crowdfunding has been actively developing over the past ten years, transforming into an established form of alternative finance for startups and small and medium enterprises. As a classical two-side market, crowdfunding provides interaction between entrepreneurs and investors through an Internet platform. In Russia, this type of funding is just emerging but has already faced a decrease in investment activity due to fund loses on these platforms. The purpose of this article is to create a new crowdfunding model which refers to the classical approach of its formation and offers opportunities for investors interests protection in Russia, increasing their professionalism and, as a result, the image of Russian alternative finance market. The methodological basis of the work is a systematic analysis of economic literature, international and Russian legal framework, and statistical data. The study identifies and analyzes perspective crowdfunding models and legislative features of investors protection on foreign and Russian alternative finance markets. On this basis, the authors build a model adapted to the Russian market, which includes in the crowdfunding process the investors communities — organizations «filters» whose activities are connected with investors registering and checking companies using deep due diligence. The implementation of the model at the state level will reduce funds losses caused by the lack of financial literacy among investors and effective selecting companies system among platforms. The findings can become the basis for legal acts, strategic concepts and governing regulations of investment activity.

Since 2014, the Bank of Russia has switched to a floating exchange rate and inflation targeting. From that moment the key interest rate, that is, the interest rate of the interbank market, became the main instrument of monetary policy in Russia. At the same time, the question arises: does the policy of the Bank of Russia really contribute to stabilizing inflation? In other words, it is important for policy makers, as well as private economic agents, to understand whether the rate changes sufficiently to stabilize the deviation of inflation from the target. Thus, the task is reduced to the study of the monetary policy rule: the Taylor rule in Russia during the period of inflation targeting. Estimates of the Taylor rule allow us to see the nature of both the systematic reaction of the regulator and the discretionary one. Thus, the task of the study is to consider the systematic and discretionary reaction of the Bank of Russia in response to the deviation of inflation from the target and the output gap based on the Taylor rule. The work is also motivated by the fact that, based on the results of recent research, the basic least squares method can be used to solve the problem. So, to analyze the systematic reaction of the regulator, we evaluate the standard formulation of the Taylor rule using OLS. To analyze the role of the discretionary component, we consider monetary policy shocks as innovations of the Taylor rule. Using the local projection methodology, we estimate the impulse responses of the inflation components of consumer and industrial goods to identified monetary shocks based on the Taylor rule. The results of the assessment indicate the implementation of the Taylor rule in Russia during the period of inflation targeting. The findings indicate an active stabilizing systematic reaction of the regulator in response to the deviation of inflation from the target. Estimates of impulse responses show a decrease in the inflation components of consumer and industrial goods in response to the restraining shock of monetary policy.

The main characteristics of methodological individualism as an approach used in economics to the study of social phenomena are revealed and the associated with it way of presenting accumulated knowledge. The authors show how methodological individualism is positioned in economics where Lakatos' research programs compete with each other. The study examines possible limitations in applying methodological individualism to relations between people mediated by language as a means of communication, including in the light of socialization processes, as well as in the light of differences in the research process and the way of presenting its outcomes. The authors show that with the spread of technologies based on artificial intelligence, the question of whether self-learning algorithms successfully passing the Turing test should be considered as a challenge for applying the traditional understanding of methodological individualism in future economic research. Methodological individualism is one of the important issues in the modern methodology of economics, in the light of which the paper discusses various aspects of the relationship between methodological holism and individualism.

The article provides an overview and assessment of the legacy of most significant Russian researcher of the past decades in the field of theory and methodology of classical institutionalism — candidate of science in economics, associate professor Alexander Ivanovich Moskovskiy, who worked for many years at the Department of Political Economy at Lomonosov MSU Faculty of Economics. The article shows the original ideas of A. I. Moskovskiy on the correlation of classical political economy, other schools of the heterodox branch of economic theory and neoclassical, methodology and theory of classical institutionalism. Special attention is paid to the research of A. I. Moskovskiy on the relationship between the technological progress, socio-economic processes, as well as the content and role of labor. The article reveals that A. I. Moskovskiy is among the first and most profound researchers who not only criticized the processes of deindustrialization but showed the importance of focusing on re-industrialization of the economy, showing (based on classical institutionalism and modern Marxism methodology) that strategic planning and active industrial policy can become the most important means to solve this problem. The industrial era, during which huge enterprises were the main institutions for maintaining social order, is not coming to an end; that affects employment and the nature of work. At the same time, the scolar did not deny that postindustrial society is now increasingly characterized as a “knowledge society”, in which knowledge and information become a key resource for technological, economic, and social development. An important point relates to the analysis of A. I. Moskovskiy changes in the methods and forms of managing skilled workers in conditions of increasing complexity and knowledge-intensive labor.

This study examines the relationship between personalisation tools in the e-commerce market on the example of e-grocery and customer satisfaction, identifies the factors which can influence positive consumer experience leading to increased customer satisfaction and, as a result, increased consumer trust. The authors consider the triad “customer satisfaction — trust — customer loyalty” and propose an algorithm for the triad constructs interaction on the Russian e-grocery market. The purpose of the study is to determine the impact of personalised marketing on building trust among consumers in the e-grocery market, which was achieved through an empirical study—an online survey of 384 respondents, with factor and regression analysis as the main research methods. The results of the study helped identify the factors used as the basis for the implementation of personalised marketing tools and affect customer satisfaction and trust in e-grocery. Finally, the authors construct an integrated model of forming consumer confidence through satisfaction tested for reliability in the form of a regression model based on the analysis of individual factors contributing to increasing loyalty.

The purpose of the study is to formulate cost-effective solutions and approaches to increase the competitiveness of a special vehicles manufacturer. Prior review of domestic and foreign literature shows that the use of information systems for after-sales service and serviceoriented business model help to obtain competitive advantages for manufacturers of complex engineering products. The paper describes the main characteristics and parameters of aftersales service and repair systems and shows the economic effect of applying information systems to optimize maintenance. The authors consider the case of implementing a service-oriented approach and developing an after-sales service information system for a manufacturer of special vehicles. Based on the analysis of available domestic and foreign solutions, the paper formulates the requirements for the information system and the principal architecture of the system to ensure the economic efficiency of after-sales service. An assessment of the effects of using the proposed approaches and solutions for large operators of special vehicles is given. The prerequisites, goals, stages of development of an integrated after-sales service system for a manufacturer of special tools are outlined. The results of the study can serve to implement the proposed solutions at the LLC “GRUPPA PROMAVTO”, as well as to improve approaches to after-sales service for manufacturers of complex technical products.

The article compares civil servants’ payment systems and wage levels in the Russian Federation and the United Kingdom, and identifies the factors affecting the civil servants’ pay level in both countries. With comparable civil servants’ payment levels in terms of purchasing power in Russia and Great Britain, there are differences in structural elements of payment and the fields of activity that are highly paid. The study is based on data analysis of the RF Ministry of Labour and the UK Office for National Statistics concerning civil servants’ pay levels in central offices of federal executive bodies of the Russian Federation and central public bodies of the UK. The comparative analysis shows that civil servants’ payment in Russia is significantly higher than that in Great Britain in such fields as security, defense, justice, legal proceedings, construction, housing and utilities, and statistics. In Great Britain, by contrast, civil servants are paid more than in Russia in speres of education, science, culture, tourism, media, industry and economics. Based on theories and studies reviewed, the article provides an econometric analysis of factors affecting the civil servants’ pay level in Russia and Great Britain. Regression analysis identifies statistically significant institutional, gender and age factors which determine the high level of the civil servants’ pay in both countries, for example, activities in financial, tax and customs spheres in Russia or work in small-size public bodies in Great Britain.

The paper examines the concept of minimum wage and approaches to its establishment in the labor legislation of the USSR and the Russian Federation. The purpose of the work is to identify the features of legal regulation of the minimum wage that affect the current situation with the minimum wage in order to improve it. The findings indicate that the experience of the USSR and the Russian Federation (in the editorial offices of the Labor Code of the Russian Federation until 2007) has positive aspects which we advise to pay attention to. The article also reviews a significant number of legislative initiatives on these issues involving both the size of the minimum wage itself and the methods and frequency of its establishment. We note that despite the approach adopted since 2021 in setting the minimum wage based on the median wage generally correlates with the world practice, while its size requires further research. We also propose to restore the previously valid definition of the minimum wage.

This article examines the development opportunities of the Baltic Sea region which consist in the possibility to effectively use the potential of blue economy industries through digital transformation and innovation. The purpose of the article is to prove that effective use of the Baltic region resource potential is a priority factor for stable economic development of the coastal territories in this region through innovations and digital technologies. The article presents effective tools and mechanisms to develop digital economy of the Baltic territories organizations, discusses the advantages and disadvantages of digitalization. Based on prior research on sustainable development of the Baltic region, the paper shows that to prevent the negative impact of uneven development on sustainable development goals in the region is possible through more active use of the unique resources of the coastal territories of the region, the rise of industries and sectors of blue economy on a new technological basis. Investing in digitalization of these industries and development of information and communication infrastructure of the Baltic Sea coastal territories is the key to their competitiveness

The study attempts to explain the dependence of agricultural development indicators on subsidies and other factors in Russia in 2012–2020. Based on the author's methodology, the survey evaluates the economic efficiency of subsidies in Russia’s agriculture, develops and justifies the measures to improve the support system aimed at increasing total factor productivity (TFP). The object of the study is agricultural subsidy system. The subject of the research is the influence of subsidies on TFP in agriculture. The panel models with fixed effects do not reveal an impact of subsidies on TFP. The 1st lag of the logarithm of subsidies negatively affects the dynamics of labor productivity, and shows no relationship between current year subsidies and labor productivity. Labor productivity in agriculture in Russia grows in 2019– 2020 as a result of higher gross output and, to a lesser extent, of lower employment. Capital productivity increases mainly due to gross output growth. Support measures for general services (development of infrastructure, science, extension, phytosanitary and veterinary services) should be the most important components of increasing the efficiency of agricultural subsidies. These components in agricultural subsidies are of high priority for the environmental situation in rural areas and the state of human capital.

This study examines the application of the ecosystem approach, development of ecosystem services theory, and the need to record and evaluate these eco-services. The paper clarifies the concept of “natural capital” and its structure, considers the essence of new evaluation objects and their specific features, confirms the difference between functions and ecosystem services, systematizes and analyzes the existing classifications of ecosystem services in general and in relation to regulating and cultural ones. The authors propose the classification of ecosystem services which differ from international and domestic classifications but at the same time focus on achieving a certain consistency in the characteristics of ecosystem services of these classifications. The study proves that evolutionary changes in objects evaluation can be characterized by the scheme: “natural resources — natural resource potential — ecosystem services — natural capital”. The evaluation object is becoming more and more complex, including natural resources and ecosystem services of abiotic and biotic components of the environment. Natural capital becomes the main object of evaluation. The reliability of the economic evaluation requires an interdisciplinary approach, which involves relying on a system of landscape categories and involving specialists from various fields of scientific knowledge. We believe that the development of the evaluation theory in terms of clarifying the essence of the economic valuation of natural resources and the classification of ecosystem services, mainly regulating and cultural ones, will help to increase the reliability of economic value of natural resources and ecosystem services, which ultimately determines the improvement of state regulation of nature management.

What use is neoclassical mainstream? Criticism of mainstream practical applicability by heterodoxies is not weakening. But the mainstream is heterogeneous, it includes orthodox neoclassical mainstream (Walras, Keynes, Friedman), the subject — “the wealth of nations”, the method — a mathematically descriptive method without explanations and the Marshallian version — with the same subject and method, but with explanations from the standpoint of individual behavior. The regularities of the objective neoclassical mainstream (demand curve, equality of savings to investments, etc.) are irrefutable, but its practical applicability is limited by the descriptive method. The potential of the mainstream can be revealed if it is re-incorporated into the classical two–factor model “nature-form” (nature according to Smith — “purchasing power”, according to Marx — “value”; form — good, use value), in which the descriptive method is supplemented by an explicative one. This is a classic model at a new level, consistent with genomics (the product is not an “economic cell”, but an “economic DNA molecule”). The model differs from the heterodox “Marxist political economy” in subject matter and method. This is the “new orthodoxy” which can be called “applied political economy”, since it includes analysis, forecasting and application in business practice.

The article addresses the ecosystems in the socio-economic sphere as network forms of organizing economic activity, operating under conditions of digital technological infrastructure that brings together various economic agents. The aim of the study is the subject identification of ecosystems carried out by highlighting the essential characteristics and theoretical and methodological approaches to the study of the subject. Apart from universal methods of cognition, the authors provide a systematic literature review, in particular, the frequency analysis of scientific articles. Such approach allows to identify the three dimensions within which the ecosystems are determined: socio-economic, technological and physico-biological. Ecosystems have a network of multilevel in-built structure characterized by scalability, self-organization, stability and dynamism. The equilibrium of ecosystems is conditional due to the dynamic interaction of economic actors: a combination of competition and cooperation, vertical integration and horizontal network relations, formal and informal contracts. Ecosystem development is determined by the innovation potential: entrepreneurs play an important role, as well as information, data and knowledge used to develop innovations. To study ecosystems, scientific literature applies a general conceptual apparatus of economic science, as well as the conceptual apparatus formed within new institutional economic theory (NIET), evolutionary economics and theory of innovation. NIET can be applied to the study of ecosystems in the field of contract theory, applying the method of discrete structural alternatives. The dichotomous division of ecosystems into economic entities and environments used is a principle that is applied in evolutionary economics. The results of this study can be applied to ecosystem regulation, as well as developing the courses on digital economy.

The article explores multicriterial approaches to determine the boundaries of poverty and the middle class. Applied regression analysis confirms the significance of some households’ social and economic characteristics that increase the likelihood of their belonging to a certain population group. Based on various methodological approaches, the analysis of the Russian society structure reveals its high polarization and a significant share of poor population fluctuating from 12% to a quarter of the population and even more considering the parameters that determine the quality of life, peculiarities in behavior and self-identification. Applying the multicriterial approach, the authors propose additional measures to support citizens which cover not only the poorest segments of the population and large families, but also a significant cohort of low-income citizens, as well as the measures that contribute to higher-income work and the increment of human wealth.

This article reviews new challenges and trends of economic digitalization after the coronavirus crisis in the context of sanctions, discussed at the Lomonosov Readings, the conference held on April 18, 2022, at Economics Faculty of Lomonosov Moscow State University. The paper addresses the following issues: competition in digitalization era, social and psychological challenges of digital economy, the Matthew effect in digital era, the experience of publicprivate partnership to boost technological self-sufficiency, migration processes in digitalization context, national and regional models of digital development and cooperation, new development opportunities and risks of digitalization for low-income African countries. The article concludes with a discussion of the prospects for digital development and cooperation in new geopolitical reality and anti-Russian sanctions.

The article addresses the specificity of managing efficiency in motorsport industry and the development of key performance indicators (KPI) system for the Formula 1 team. The study analyses the annual reports of the company that manages Formula 1 team - Williams Grand Prix Holding, and Liberty Media company which owns the rights to hold the Formula 1 championship. This paper is based on Kaplan-Norton balanced scorecard system, industry reviews and studies. The analysis provides an overall profile of the firm, identifies its weaknesses and formulates the strategic development goals related to both sporting activities and other areas of work. The study contributes to management theory by developing efficiency criteria framework adapted for motorsport sphere that is currently considered understudied. Finally, the paper offers a system of indicators that may be both used for performance evaluation in automotive business and its sports (competition) segment and adapted to other sports.

The article identifies the main features and current trends in the process of recycling secondary construction resources during the transition from a linear model of the economy to a closed-cycle economy. The study indicates the need to start recycling secondary construction resources from the period of pre-investment studies, acceptance and approval of the investment project till the termination of the project and the decommissioning of the object. The author suggests to upgrade the methodological approach to a comprehensive assessment of ecological and economic efficiency of investments in recycling secondary construction resources, taking into account current views on the functioning of natural and socio-economic systems and ensuring a balanced account of environmental and socio-economic factors. The effectiveness assessment rests on the ideas of human security, preventing negative consequences of nature management and restoration of disturbed natural ecosystems. In assessing environmental damages and effects, special attention is given to analyzing the nature and extent of possible changes in the state of the main components of natural environment. The analysis concludes with practical testing of the proposed methodological approach to assessing investment efficiency in recycling secondary construction resources.

Oil and gas companies are under the scrutiny of investors and counterparties, among which today there is a growing commitment to complying with environmental management criteria and socially responsible investment and development. This study is devoted to the analysis of the impact of environmental management criteria on the financial performance of oil and gas companies. Compliance with the principles of environmental management contributes to the stable development of companies in the oil and gas sector and increases the attractiveness for investors. Regression analysis of panel data covering 2002–2020 was performed on the basis of assessments of compliance with environmental management within the framework of the ESG rating. The novelty of the study lies in the high detail of the data, the focus on oil and gas companies in developed and emerging economies, and taking into account the specific characteristics of the sample. The analysis of compliance with the principles of environmental management, as part of the ESG strategy, in companies in the oil and gas sector complements the results of broader studies of the energy sector. The purpose of the study is to study the relationship between environmental management criteria and the financial performance of oil and gas companies, in particular their market value (Stock Return, Tobin’s Q) and accounting financial indicators (ROA, ROE).

The practical significance of the work lies in the formulation of conclusions about the impact of environmental management criteria on the success of oil and gas companies. The results of the study are useful in making strategic decisions by companies in the industry under study and can also be used by investors when choosing assets to form an investment portfolio.

The paper considers the state of the regenerative medicine market. The purpose of the work is to review the existing sources on the economic issues of regenerative medicine products and their introduction to the market. Due to the fact that the market for regenerative medicine is in growth stage, the number of sources is extremely limited. The review collected, analyzed and systematized data on the volume and dynamics of the market, its financing, drivers and barriers, provides a list of regulatory documents regulating the market, government support measures and opportunities for start-up entrepreneurs. The performed research characterizes the market of regenerative medicine products as a market with strong potential for growth in the next decade. The results obtained helped to identify problematic aspects of the market that require examine issues by specialized specialists. Subject to consideration of negative reviews of the federal law No. 180-FZ “On biomedical cell products” adopted on June 23, 2016, continued active state support and legal regulation, products and services of the regenerative medicine market will be able to win their niche and compete with current drugs and methods of treatment.

Currently, most rural areas of our country are actively stagnating. High poverty, low educational level of the population, low wages or no employment opportunities, underdeveloped infrastructure, active migration to cities — all this leads to the mass depopulation of rural areas and their shrinkage in the spatial and economic context. In this regard, it is necessary to form new approaches to the spatial development of rural areas, based on the development of alternative activities in the formation of creative centers in order to spread innovation and improve the real quality of life of the local population. The purpose of the present research is the formation and substantiation of the organizational-economic mechanism of the development of the creative centers in the rural territories. General scientific methods of research were applied.

The organizational-economic mechanism of creative centers formation should provide effective infrastructural by displacing the entrenched forms of management. The attraction of creative workers to rural areas will act as an indicator of efficiency. The proposed multilevel management system of the process of formation of creative centers in rural areas is supplemented by an additional level — reflexive, in addition to the standard levels of management (strategic, tactical and operational). This level implies constant contacts between various stakeholders in real time with the possibility of adjusting the current processes. In our opinion, the only true solution to the problem of depopulation of rural areas should be to launch the process of qualitative transformation of rural areas taking into account the opinions of all stakeholders. The proposed methodological framework in the form of an organizational-economic mechanism can serve as a basis for future changes in the decision-making process of those responsible for rural development. The development of creative centers in rural areas can become a potential pole of growth of the latter and contribute to the improvement of the quality of life of the local population at the expense of economic diversification.

This article addresses current approach to interest rate risk management in commercial banks and identifies different management tools aimed at increasing business value. We argue that interest rate risk management tools available in Russia and China are only marginally used, with a significant similarity in the development of Russian and Chinese credit systems. We provide information from the core groups of Chinese banks concerning the extent of acceptable interest rate risk, attempt to assess the quality of interest rate risk management and offer the examples and possible variants to mitigate the interest rate risk while using specific asset and liability management options. The authors argue that the study of interest rate management practice compared to mature financial market existing tools demonstrate that commercial banks earn premiums while accepting interest rate risks but handle it marginally.

The paper analyses the variables covering real, financial and external sectors of the economy alongside various sectoral, price and survey indicators. We have obtained forecast values of gross value added by industry and an aggregated estimate of Russia’s productionbased GDP. Drawing on dynamic factor model (DFM) as the main approach, we obtained quarterly point forecasts for production-based Russian GDP and for individual sectors for 2011-21. The forecast accuracy is compared to Bayesian vector autoregression (BVAR), simple benchmarks based on aggregated and disaggregated GDP modeling and consensus expert forecasts. The results of the study show that the dynamic factor model outperforms the benchmarks and, in some cases, also BVAR in forecast ability (measured on the basis of an out-of-sample forecast error). The superiority of the factor model can be traced back to its ability to capture sectoral information on the gross value added of individual industries. The covariance matrix analysis of sectoral forecast errors confirms that the factor model superiority is based on its ability to capture sectoral dynamics more accurately, especially during the periods of high volatility. The dynamic evaluation of point forecasts for 4 quarters ahead and comparison of modeling results with consensus forecasts of experts shows that forecasting based on the DFM model for production allows for more stable and consistent results.

The paper provides a systemic-synergetic study — from a new conceptual stand — of the lessons of reform policy and openness to the outer world in the PRC after December 1979 through the lens of “the Chinese model” theory and practice for socio-economic, spiritual and materialistic progress of Russia, the new Union state (NUS) and the world at large. As a methodological basis of the work, the author first critically explores recent literature on this subject drawing on personal multi-decade research in this area. He then formulates a new conceptual view on the problem, provides a new periodization of the main socio-economic stages of development of the PRC; systematizes some of most important lessons of the “Chinese model” for Russia and the NUS; defines the current strategy of socio-economic development of the People’s Republic of China. The analysis concludes with an examination of the advancing socio-progress model towards a sustainable-optimal society, (bio)economy and (bio)finance and then the good-economic management. The findings will contribute to the development of optimal political economy and, more specifically, to a number of promising directions in the strategy of social sphere and the entire life order of Russia, the NUS and the world.

Space is one of the key and controversial (in terms of content) categories in economics. It is assumed that the methodological basis of spatial development concept, and, correspondingly, the very concept of space itself are classical (mercantilism) and neoclassical (price theory) theories. However, until now the understanding of its nature and its role in creating and transforming modern socio-economic relations remains a debatable issue. The key method of analysis in this work is semantic analysis. The Authors attempt, on the one hand, to reveal a retrospective transformation of space concept, and on the other, to identify the key theoretical and methodological approaches to this phenomenon in modern research. The analysis results in a number of valuable findings. First, the authors identify a synthetic nature of concept evolution, which consists in a specific absorption of previously proposed models and space describing provisions. Secondly, the authors identify the main approaches to space study, for which the determining criterion is the nature of socio-economic relations formed by economic agents, and the processes that these agents implement in various spaces. Thirdly, the authors prove that modern concept of socio-economic space allows for a broader description of interactions of economic agents in translocation aspect. Thus, the scientific significance of the research consists in expanding knowledge approaches to defining the category of space, as well as its analysis in modern economic research.

The purpose of the article is to analyze the possibilities and feasibility of using narrative analysis methods in studying the structure and dynamics of entrepreneurial networks. To achieve it, the author provides the description of an entrepreneurial network concept, explores the results of its exploration in the world science, which leads to the conclusion that the use of purely quantitative methods to study entrepreneurial networks does not allow us to reveal their essential features determined by a number of practically unmeasurable social factors. One of these results is the correlation between the two blocks in entrepreneurial business networks: personal entrepreneurial networks that arise before the start of an individual’s business activity, and ordinary inter-firm interactions that begin to operate after the start of his business, usually in the form of the creation of his first firm. The first block is not affected by standard official statistics and requires different research methods. Based on this, the article discusses in detail the concept of narratives and methods for studying them in social sciences, with a special attention on narrative analysis in economics. Finally, the author characterizes the variants of such analysis, proposes and substantiates the logic and methodological features of its application to the study of entrepreneurial networks.

This paper addresses the practice of teaching economics for non-economic students and the development of a target model of teaching. To demonstrate the value of economic knowledge as an important element of general educational training of students at universities, we first assess the role of modern universities in forming an inclusive society. We present the evolution of views on the economic training of students of non-economic specialties in foreign and Russian practice, and highlight current trends in changing the structure, purpose and content of economic disciplines. We offer actual types of combined learning formats for teaching economics as a general educational discipline in the context of an extensive use of digital educational technologies. Drawing on a cross-sectional multisample study conducted at 19 faculties of Lomonosov Moscow State University, we offer a model of teaching economics for non-economic students, proposed as a target model to be implemented within the framework of higher education. The findings can be applied by universities in implementing systemic economic training of non-core students and may also be of interest to the faculty in choosing a combined learning format, as well as updating the course structure and teaching methods.

In this paper, we investigate the development of concept and methodology of subjective inequality perception. We use both foreign or domestic publications to compare the phases and directions of subjective inequality research in Russia and abroad. Correlating the directions of investigations with the challengers of a concrete historical period and key goals of socio-economic policy we show how new problems have been taken into consideration and the recommendations for public policy appear to be more diverse. Specifying the subjective inequality assessment in post-Soviet Russia we come to the conclusion that the subjective estimates, and subjective perception of non-monetary inequality first of all, should be used more actively in government policy advise as obtaining the key importance not only for the socio-economic stability but also for future sustainable development of Russian Federation.

The relationship between military and civilian technologies used for military purposes, as well as the nature of present and future conflicts, are constant subjects of various studies. Currently, modern developments as well as advanced technologies form the basis for the military-industrial complex of most developed countries. In this context, the development and further transfer of dual technologies, which can be used for both military and civilian purposes, is an urgent issue. However, a problematic situation can arise where, on the one hand, the production of armaments, military and special equipment is an essential public good that ensures the security of a country, while, on the other hand, the military technology and products created are not further utilized either in household consumption or as a means of production by enterprises. The use of dual technology allows commercialization of military developments and reduces the burden on the budget of the military sector through profits from the use of technology in the production of civilian products. The article considers the problem of commercializing the results of innovation activities of the research divisions of vertically integrated technology companies that use dual-use technologies, which is relevant to Russia. The research methodology is structured in several stages. Primarily, patent applications have been categorized using the International Patent Classification (IPC) classifier, the PATSTAT database was then analyzed, where a specially designed SQL query was used to select mixed (military and civilian IPC codes) as well as military patents only. The number of citations of the above patents was determined by SQL query. The main finding confirms the hypothesis that the potential of technology transfer from military patents to civilian ones is higher when an initially military patent has double specification.

In the field of marketing research, the theory of generations is becoming increasingly popular lately, and a particular emphasis is being placed on examining the promising directions of its practical application. This article studies the possibility of using a generational approach to promoting rental housing. The object of the study is the preferences of tenants belonging to different generations, and the subject is the factors influencing the promotion of rental housing. Using the river sampling technique, the paper reveals the preferences of representatives from different generations in the domestic residential real estate rental market. Drawing on the correlation and regression analysis, the authors identify the main factors influencing consumer behavior in the market considered, as well as the specifics of promoting rental housing for representatives of generations who are currently the main target audience. The findings allow us to achieve a comprehensive understanding of the emerging demand in the real estate rental market in Russia and might have important implications in building marketing campaigns aimed at promoting rental housing based on the generational approach to consumer segmentation.

The urban planning market is changing rapidly and becoming more complex, and state organizations in Russia are forced to enter competitive markets with commercial customers, having no experience of competition and having only a relative understanding of the changing picture of the market and the values of its stakeholders (which are also rapidly changing). The current situation makes it necessary to study the values of potential customers and other stakeholders of the urban planning market, which directly affect the activities of the designer. This study is an attempt to identify the research areas and highlight the main approaches of researchers related to the creation of value in the market of urban planning, for which the method of bibliometric mapping with clustering through the co-word analysis method. The study identifies four clusters and 13 most relevant topics and provides a systematic review of each of them. The findings allow to build a conceptual basis for further development of the topic taking into account Russian specifics, and it will allow urban planning companies to improve the institutional structure, ensure effective functioning and understand their role in joint value creation on the urban planning design market.

The article discusses the main problems associated with virtual reality systems implementation in engineering industrial companies and indicates that currently great attention in all industries is paid to both production and related processes digitalization. The paper shows that traditional digitalization methods are primarily electronic methods of creating design documentation (computer aided design, CAD), engineering calculations in specialized software (computer aided engineering, CAE), as well as means of computer support for production (computer aided manufacturing, CAM). The study highlights that these methods can significantly reduce the design costs and preparation complexity for manufacturing and, as a result, can reduce the cost. It is assumed that the next logical step towards modern production digitalization is to combine the existing methods with a significant expansion of technological processes visualization possibilities that underlie the production. It is revealed that the process of introducing digital visualization systems requires careful thinking and solving a large number of interdisciplinary problems: from creating a technological process mathematical, physical or digital model, to determining the resources required to be attracted in order to implement a digital system. Thus, the purpose of the work is to develop an algorithm for creating virtual reality technologies that takes into account all the key aspects of this process, which is a complex and urgent task. The article has developed an algorithm that fully reveals this process and shows the economic efficiency of the digital systems implementation for technological processes virtualization in engineering industrial companies.

The cluster form in Russia is developing dynamically and shows high efficiency, which indicates the prospects for further application of cluster approach to the spatial organization of production. The article presents the general concept and essence of an industrial cluster, indicators of cluster development in the Kaluga region, problems of functioning of these associations and ways to eliminate them in conditions of market integration. The proposed methodology is based on retrospective and current statistical data on clusters’ activity. Most Russia’s regions have all the necessary conditions to form clusters, including many industrial enterprises, research institutes of industry and educational centers. Thus, there is a need to develop a methodological approach that allows for the selection of economic entities that have a positive potential for mutual cooperation for the implementation of innovative projects and the formation of cooperation. The article discusses the theoretical and methodological aspects of the formation of industrial clusters in the Kaluga region. The findings show that an industrial cluster is a combination of economic entities that carry out joint activities on the same territory to bring improved types of products and services to the market. Prior research on cluster formations prove that this area has not yet been sufficiently studied, both from the side of a deep analysis of the model of the cluster structure itself, and promising methods of integration into economic and market systems of various levels. This situation is caused by the fact that the directions of the cluster approach are studied to a greater extent in macroeconomics. The analysis of cluster functioning in the Kaluga Region demonstrate a positive impact of these forms of production organization on the overall economic development of the region.

In modern conditions, Russia has increased the need to expand the scale of import substitution and increase the level of self-sufficiency, including food. The possibilities of achieving these goals are considered in this paper on the example of such a mass-demand product as apples. The spread of ideas about a healthy lifestyle and the usefulness of fruits stimulates a steady increase in demand for apples all over the world, including Russia. Moreover, from the point of view of natural and climatic conditions, the country has a significant potential for increasing the volume of production of fresh apples. In recent years, thanks to the policy of import substitution, significant progress has been observed in domestic fruit growing. Nevertheless, Russia remains one of the largest importers of apples in the world, and the problems of the industry’s development are obvious. The analysis of statistical data and scientific information, as well as industry reviews and expert materials that are publicly available, allows us to identify both obstacles to increasing the effective production of apples in the country, and ways to overcome them. The results of the study show that the increase in national apple production largely depends on the development of related industries, primarily the relevant branches of mechanical engineering and experimental breeding activities. At the same time, the priority of state support should be the development of experimental production facilities, acting as a link between scientific and technical innovations and serial production. Of course, Russia does not need autarky and is not profitable. However, a sufficiently high level of self-sufficiency, especially agricultural and machine-building products, is necessary. The conclusions made in the course of the study can serve to improve the theory and the import substitution policy based on it, as well as to adjust regulatory actions in the process of state management of the economy

The paper analyses the longest-running regional integration project on the post-Soviet space — the Union State of Russia and Belarus. The results of the integration process indicate that Russian-Belarusian economic integration has a reverse nature. One of the priorities of the integration interaction between Russia and Belarus has been the formation and coordination of “roadmaps” (“Union Programmes”) in order to activate the draft “Action Program of the Russian Federation and the Republic of Belarus” to implement the provisions on the establishment of the Union State. The article records the attitude of Russian enterprises to the main measures included in the roadmaps, as well as the general perception of the process of economic integration of Russia and Belarus by the enterprises of the Sverdlovsk Oblast. The article is structured as follows: first, it analyzes the process of economic integration of Russia and Belarus within the framework of the Union State. Second, it provides the description of the research design and characteristics of the sample. And finally, it answers the question whether the perception of Russian regional business has any effects on the economic integration within the framework of the Union State. The research method is a semi-structured focused interview with representatives of the Sverdlovsk Region's enterprises operating in Belarus. The sample included 45 enterprises, with 23 enterprises taking part in the research. According to the respondents, the process of economic integration within the Union State, officially initiated by the governments of Russia and Belarus, does not help to remove barriers to the interaction of Russian and Belarusian companies

Since February-March of 2022 some large social media and digital platforms are no longer legally available in the Russian segment of the Internet. Digital protectionism and sanctions lead to “new restrictions” in social media markets which directly and indirectly affect the production in the real sector of the economy. The purpose of this article is to analyze the current situation in social media markets from the point of view of users and market players, and to identify the med-term development trends. Based on the experience of foreign countries (Iran and China), as well as on the analysis of the existing restrictions, it was found that network effects, the necessity of using a VPN and economic incentives (the availability of a mechanism for promoting content, advertising and monetization) have a stronger impact on the blocked or restricted digital service presence than its formal blocking. For digital protectionism to lead to a long-term sustainable development there should be a framework strategy with goals incorporating the market parties’ goals. Otherwise, with exclusively an ad hoc response, the industry is not able to create globally competitive services.

The analysis of cross-network effects is important in considering the impossibility of their direct observation and the impact of cross-network effects on the values of all tests in competition policy, pricing practice and merger valuation. The article summarizes the experience of quantifying cross-network effects for non-transactional platforms. This paper systematizes the methods for assessing cross-network effects (regression equation systems, features of data collection, control variables) used in the study of the mutual influence of the media audience (newspapers, magazines, television channels) and advertising. The results of the analysis reflect the technical feasibility of this task and the requirements for the initial data and expert competences in the application of quantitative methods. The article summarizes the results of empirical estimates which in most cases coincide with the predictions of the theory about the sign (direction) of cross-network effects.

The article examines certain pressing problems of Foreign Direct Investment (FDI) and considers many international trends including such as a long-term trend towards a decreasing role of FDI movement and a relative decrease in the role of global value chains (GVCs). The author provides a non-customary approach to the study. The author argues that many negative trends are interconnected, in particular with high global instability together with other well-known factors. The article pays particular attention to the experience of certain countries (Japan, Brazil, Mexico, South Korea) in the field of FDI import and import substitution. Drawing on the experience of these countries, the author suggests certain economic recommendations to Russia’s regulators. The review attempts to rethink the role of FDI, GVC, import substitution and other phenomena and to provide a new analysis of them in today’s conditions and circumstances. The article touches upon a long period of high volatility and economic crises in Russia’s and foreign economy (for over 10 years). Taking into account many years of the author’s experience in the Russian business and in the Russian banking sphere, the author comes to the conclusion that rethinking certain principles of national economic policy is required. This article deals with estimates of key indicators published by international bodies, such as World Bank and UNCTAD.

The challenges which our country has faced in the years 2020–2022 requires some clarifications and amendments in methodological approaches particularly in economic and management education. One of the major and serious problems is our thinking in the new reality and the struggle for this thinking. The formation of management thinking and the culture of new management in the conditions of digital transformation, global and geopolitical challenges must start at the bachelor level of higher education. On one side, modern management is “different”, the paradigms shift has happened due to changes in society, in technology, in processes, in human behavior, etc. On other side, the new reality is so complex, the information and communication overload is so high, the consequences of actions and the ongoing processes are so different and often weakly predictable that even professionals face the difficulties with analysis, assessments and conclusions not to speak about young people who are just studying. The article, in the view of the author, suggests some actual research topics and issues of education programs on management which have to be focused. Among them are management of meanings, of values, of complexity, of attention, problems of business and management ethics, as well as systems thinking and analysis skills. In the final part of the article the analysis of the Bachelor’s in Management graduation papers (VKR) is presented. Such analysis is the part of the project “The diagnosis of quality of VKR at MSU Faculty of Economics” initiated by Faculty of Economics Pedagogical Commission the results of which were previously presented in the journal.

This article is devoted to the fiftieth anniversary of Management of organization department at the MSU Faculty of Economics. The article examines the analysis and dynamics of the management theory formation and development at the department, also to its role in the management knowledge development in the country. The article subject are theoretical development and provisions created by the department staff over fifty years of its existence. It is shown that the birth of a scientific school at the department, which later had a pivotal impact on the management theory development in the country, was generated both by the objective conditions of the planned system evolution of the country’s economy and changes in the social environment. The article considers the role of the personal factor in the scientific school formation, — the role of its founder and longtime leader G. Kh. Popov. The article demonstrates cardinal changes in the subject of theoretical research as the response to the change in the social and economic system of the country. The changes are evident in the new training courses creation and in the conceptual description of the new management theory provisions that are adequate to the current conditions in the environment. An important point of the article with concrete examples is the development of management thought within department scientific school which was not only in the form of reaction to the changes in the external environment, but also in accordance with scientific knowledge dialectics and logic of theoretical knowledge development. It is demonstrated that succession is a major factor defined the dynamics of theoretical thought development at the department in the stage of fundamental social and economic changes in terms of generation changes.

This article provides an overview of current research in the field of modifying inventory management models, among which the focus is on models for determining the economic order quantity (EOQ) for perishable stock in accordance with various criteria restrictions. The authors implement a meta-analysis of 160 scientific publications, in which modifications of the studied models are foreseen for the period from 2016 to 2021. The result was systematization and classification of each model in accordance with the type of demand, the perishable stock nature, and its deterioration dynamics, as well as the key topic, based on which the limitations of the model are set. The authors formulate conclusions about existing solutions and their applicability in various situations, determine the motives, trends and modifications types of the base model for determining the optimal delivery batch, and determine potential development directions.

The search for resources to increase labor productivity is associated with a theoretical analysis of conditions and factors. This problem is particularly acute in the context of the fight against the SARS-CoV-2 pandemic; issues of rational management of human resources are coming to the fore. Labor productivity is one of the key indicators organization’s labor efficiency. The research was carried out based on general scientific methods analysis and synthesis, logical analysis, and sociological survey. The article analyzes the factors affecting the labor productivity of employee’s medical organization. A high assessment of the level of employee productivity was obtained, the relationship between the financial stability of the institution and work in a pandemic was revealed. The most significant factors affecting labor productivity are the availability of a personnel incentive system (75%, p = 0.028), the level of material and technical support (74%, p = 0.05), the moral and psychological climate in the team (64%, p = 0.007) and working conditions (63%, p = 0.26). It is proved those comfortable working conditions, a favorable moral and psychological climate, the level of material and technical support, regular professional development and the availability of a quality management system create conditions for improving the productivity of health workers.

The paper analyses how effective import substitution policy can contribute to the achievement of Russia’s technological sovereignty, as well as improving national competitiveness and resilience to the sanctions factor. The purpose of the article is to provide recommendations to the system of export state support to stimulate digitalization in the process of import substitution in Russia. What makes the approach special is the analysis of the dynamics of patent activity in the Russian ICT (Information and Communication Technology) segment for the period 2010–2021 and critical analysis of import substitution policy results for the period 2014–2021. Our results show that stimulating of ICT competitive goods supply is necessary to optimize Russian positioning in international trade. The article also considers that in the conditions of sanctions against Russian economy, it is highly necessary to overcome the country’s excessive dependence on import. In conclusion, the author presents the key areas of stimulating digitalization of import substitution in Russia under sanctions.

The paper analyses two alternative theoretical interpretations the nature of Corporate Environmental Responsibility (CER)-Financial Performance (FP) interconnections based on the concept, that the implementation of CER measures increases the company financial efficiency, or the alternative theory the CER strategy development can only be applicable for stable companies with sufficient financial resources. The recent empirical literature shows many inconsistencies in each of the theoretical explanations the effective environmental and company financial policy formation. There are no Russian and foreign studies explaining the environmental responsibility and financial efficiency interconnection for Russian companies. It determines the purpose of this research and the novelty of the obtained research results. We use the least squares method in order to argue that financial efficiency is a significant driver for environmental responsibility of Russian companies. We also argue that the influence of financial efficiency on environmental responsibility varies according to the ownership structure and the foreign and state participation in the company..

Under sanctions, at the state level (in particular via the Russian antimonopoly authority) the idea of the need to prioritize supply to the domestic market is being promoted as an imperative for Russian manufacturers. The reverse side of the prioritization of the domestic market is the refusal to link prices under domestic contracts to foreign price indicators and exchange rates. The requirement to prioritize the internal market is as simple and obvious in concept as it is difficult to administer. We assess the design of the norm and possible scenarios for its application in terms of effects both for Russian business entities and for public welfare in general. We propose options for fine-tuning in terms of the application of this norm. We show that the preferred methods for analyzing the satisfaction of domestic demand are economic and statistical methods, as opposed to survey methods, which are associated with high risks of strategic behavior on the part of consumers. Additionally, we outline the main risks associated with the administration of the priority of meeting domestic demand through antimonopoly regulation. Among these risks, the most important are the risk of involvement of the antimonopoly authority in the resolution of economic disputes (which contradicts not only the essence of antimonopoly policy, but also the existing regulatory documents), as well as the risk of side effects that cannot be systematically taken into account and adjusted for in conditions where the prioritization domestic demand is provided not by methods of economic regulation, but by antitrust measures.

The aim of the study is to propose and substantiate recommendations for development of the export potential of the Russian agro-industrial complex (AIC) in the Eurasian Economic Union (EAEU). The paper assesses the benefits of the Russian agro-industrial complex within the EAEU and measures to extract them for exporters. It develops recommended measures of state support that promote development of the Russian agro-industrial complex under EAEU membership conditions. The author considers state regulation measures for the following sectors of the Russian agro-industrial complex: agriculture, food industry, agricultural machinery, and fertilizer production. The author makes the following conclusions in the work. Russia exports to the EAEU products that are less in demand on other external markets. Overall, Russia’s trade relations with the EAEU countries are as follows: 1) companies in the agrochemical and food industries are in a winning position; 2) a relatively positive effect is observed in the agricultural machine building industry; 3) a relatively negative impact is observed in the dairy industry and production of meat products (due to competitive pressure from Belarusian producers). To improve the competitiveness of Russian products, as well as to identify their niche in the EAEU market, enterprises should be assisted in finding new markets and developing cooperation. The diversification of export-oriented production, which has already established itself in the external market, can be used to consolidate markets on the territory of the EAEU to sell goods. Here, the capacities created to assist subjects of industrial-innovation activity and production of innovative goods (for example, in agricultural robotics) should be attracted.

The article examines the phenomenon of connection between the regional market of banking services and the regional socioeconomic systems on the example of the Russian Federation’s subjects. In order to identify the measure and nature of this relationship, the regional socio-economic system and the regional banking services market are appropriately parametrized and analyzed for reciprocal causality. The study indicates that this relationship is statistically significant and mainly bilateral as well as partly unilateral with predominance of regional socio-economic system parameters’ causality. The regional socio-economic system, thus being articulated, is co-dependent and co-directed with the regional banking market, nevertheless dominates it.

Generalization of the structure of financing of the main managers of federal budget funds in the context of sections and subsections of expenditures of the budget classification in order to identify the features and problems of further structuring costs in the context of the development of digitalization of budget processes. The current system of structuring sections and subsections of the budget classification of expenditures is considered, the quantitative composition of the codes of sections, subsections and expenditures of the GRBS of the federal budget for 2020 is analyzed. The ratio of the number of codes of sections and subsections of the budget classification of federal budget expenditures for the GRBS for 2020 and the regularity of their relationship is investigated. A low correlation between the number of codes of sections (subsections) and the volume of budget expenditures at the federal level for financing the GRBS was quantitatively revealed. A new concept is proposed — the consumption capacity of the code. The average expenditure intensity of one code of the budget expenditure section for the GRBS is estimated, and the structure of the ratio of budget expenditures and the expenditure intensity of the GRBS cost section code is studied according to the results of the federal budget execution for 2020. The provisions of the organization of the approach to building a digital budget are proposed. The conclusions of the generalization are reduced to a positive assessment in general of the possibilities of analyzing budget expenditures in the current classification of budget expenditures and the need for further deepening of digitalization, contributing to a more rational study and analysis of the effectiveness of the use of budget expenditures of the country.

The article defines the subject and examines the main problems that arise during the transformation of the national accounting reporting system (NARS) into IFRS and the differences arising in the basic concepts of NARS and IFRS. Furthermore, their impact on the change in the accounting process cost is occurred, considering the trend towards reporting synchronization with the regulatory requirements. Two factors determined the research relevance. The first factor was depicted as an evolutionary complication of accounting and maintaining cost increase following the results of a 20-year transitional period for the implementation of IFRS in the Russian NARS. The second was to figure out a discrepancy between the IFRS concept and the vector of information technology development in accounting and reporting. The study aims to determine the directions and conditions for ensuring the NARS efficiency, considering convergence with IFRS in the needs of the digital economy. The methodology is based on the general scientific methods of theoretical and empirical knowledge, including modelling, expert assessments and a comparative analysis of the results and consequences of the impact of IFRS on NARS. As a result of the study, the implications of the identified conceptual inaccuracies in IFRS for further developing NARS and IFRS have been summarized. The developed proposals will ensure the national accounting system’s effectiveness, considering current trends and the mathematical model results for calculating accounting costs. The research results will interest accounting, financial reporting professionals, and the authorized regulatory agencies operating in this field.

The article proposes a systematic description of Russian economy, in order to move from its unilateral definitions to its comprehensive assessment. This assessment is necessary to determine both the foundations of the current state of Russian economy and the prospects for its development. This characteristic is intended to reflect the level of development of the Russian economic system, its place in the system of world economy and its national peculiarities. The article deals with a set of features reflecting the internal structure of the Russian economic system: market situation, the system of reproduction, economy structure, the main socio-economic institutions etc., taking into account the historical development that led to the formation of the current state of affairs. Within the framework of this point of view, Russian economy appears to be a peculiar version of a mixed economy with a significant share of state participation and the structure of private property, formed largely as a result of its noneconomic redistribution. In such an economy there are no economic, institutional and social conditions that provide effective domestic sources of economic development. The national and cultural peculiarities of the Russian economy are determined on the basis of a variety of factors, ranging from natural-climatic, spatial, and up to socio-psychological formed, among other things, due to the influence of peculiar features of social relations’ historical evolution. Finally, the Russian economy place in the system of global economy is considered. It is defined primarily on the basis of qualities and level of Russian economic system development. The conclusion is made that Russian economic system meets the characteristics of semiperipheral economies. Such a characteristic of Russian economic system does not exclude the capability of its modernization, but makes it possible only in case of qualitative changes in the existing economic model.

This is the first publication in a series of the three papers that present the research findings of the diagnostic project on the quality of Bachelors’ final papers initiated by the Faculty of Economics Pedagogical committee in 2021. We present the findings of academic quality analysis and the typology of the main formats of Bachelors’ final papers. The research is based on a methodology that is specially developed along the lines of positive economics approach. Its application allows us to demonstrate the qualitative features of the body of final papers prepared by our graduates which include inter alia quality of literature review, research statement, tools of analysis and interpretation of findings. We offer the steps for further strengthening the analytical quality of final papers, including early submission of research hypothesis, elective courses on the methods of academic research and research seminars for undergraduates. We also present a typology of formats for final papers covering Economics and Management streams of study. Based on our positive analysis, we have identified six primary formats of Bachelors’ final papers, which can be combined into three more general categories: academic, project and research, and applied project formats. A comparative analysis of formats in economics and management papers confirms the applicability of common criteria for evaluating and grading the papers, alongside common guidelines for final paper preparation. The study proves the viability of diverse analytical methods while preparing final papers in both streams of study.

The increase in life expectancy, both in the world and in Russia, has led to an increase in the burden on the state budget as a whole and on pension systems, in particular. Since for most pensioners the state social system, in general, and the pension one, in particular, is the main source of well-being, this can provoke its decline.

As follows from the study, along with demography (an increase in the number of pensioners compared to the population of working age) and the economy (phase of the cycle), the territory of residence is also a factor affecting pension welfare.

The study is limited in scope: only material well-being, only old-age pensions, 8 federal districts of the Russian Federation, for the period of 2014, 2016, 2018, 2020.

The Global Pension Index, the World Social Protection Report, other international documents, as well as the Comprehensive Monitoring of the Living Conditions of the Population has provided key indicators to assess pension well-being, including: 2 «monetary» (the ratio of the intended pension and the subsistence minimum) and 7 «non-monetary» ones that assess the state of housing conditions (general: the proportion of households of pensioners who are not constrained by housing; the size of the total area per member of the household; households estimate pensioners in the state of the living quarters occupied by them as «satisfactory» and the level of security of the living quarters of pensioners: centralized water supply, hot water supply, network gas and central heating).

Evaluation of the mini / max method of these indicators empirically proves the hypothesis that the level of well-being of pensioners living in various federal districts of Russia is significantly different. Thus, it is empirically proven that the territory of residence is a factor of pension well-being, which requires the abandonment of regional ties in calculating the state pension.

The article substantiates the recommendations to improving the publication process in economic journals and reducing transaction costs for authors of scientific publications.

The article presents the methodology of integral assessment of Russian regions economic development. Currently, there is a significant number of methods to assess the state of country’s economy and individual regions, including Russia. However, they are often poorly formalized or difficult to implement. The authors offer the methodology to assess the economic development of Russia’s regions using the integral index which minimizes the number of the indicators used. The study applies objective indicators of official statistics which most fully and reliably reflect the essence of regional economic development in Russia such as: gross regional product, the cost of fixed assets adjusted for their depreciation, investments in fixed assets — all of them per capita. The methodology makes it possible to provide an annual assessment of Russian regions economic development to determine the specifics of regional policy.

The article attempts to highlight the socio-psychological portrait of a Russian worker in creative sphere. The relevance of the research is determined by the contradiction between the desire to develop the creative class and the lack of a clear understanding of the essence of this social group. The methodological basis of the research includes both classic works by R. Florida and modern scientific publications on the study of the creative class by Russian and foreign authors. The analysis of theoretical studies shows the impossibility to establish a clear professional affiliation due to both terminological uncertainty and the rapid digitalization of society during the pandemic years, which led to a change in the position of the creative class and actualized the need to study it. The empirical basis is formed by the data from the online questionnaire survey carried out among the participants of the project of the Agency of Strategic Initiatives (rurban.space) to search and unite representatives of the creative class within the framework of the development of urban space models. The article attempts to outline the peculiarities of the formation of the Russian creative class. The results allow us to describe the portrait of a creative worker as a member of a social group that exists within the framework of traditional socio-economic institutions. The respondents self-identify themselves as representatives of the lower and middle classes, gravitating towards full-time employment within urban agglomerations. When selecting the professional qualities inherent in a creative worker, respondents gave preference to «creativity» and «communicativeness,» completely excluding «tolerance,» which is considered mandatory in Western culture. The data obtained in this study allowed us to rethink the established stereotypes and simplifying heuristics about the nature of creative work and the socioeconomic portrait of a creative worker.

The purpose of this article is to demonstrate the significance of contemporary economic science for training public servants for government bodies and managers for business. At present, prevailing theories are being revised, novel concepts and interpretations come into being, and governmental institutions undergo noticeable changes, trying to respond to emerging challenges, i.e. New Industrial Revolution, Energy Transition and Climate Change. With this purpose in mind, the authors offered three methodological approaches — metrics, political economy, narrative, all of which allow to study novel problems from different angles. The review of 1006 articles in 31 Russian economic journals for the period of 2010– 2021 upon three above-mentioned issues has shown, that, firstly, a greater part of publications refers to manufacturing development, secondly, metric (42%) and political economy (51%) approaches prevail in the research of all these issues. However, in the situation of uncertainty the prognostic value of economic modelling is decreasing, contradictions between political economy elaborations are growing up, and narrative approach is actually demanded for alternative interpretations of variable, frequently competitive, ideas and concepts concerning industrial transformation, energy transition and climate change. These three approaches correlate with the curricula of Russian and foreign universities in order to identify the promising fields to upgrade economic education of public servants in Russia. The authors conclude that there is a disparity between trends in economic research and modes in training public servants. Currently in higher education the teaching of economics rests on metric approach, but economic sciences also demand qualitative methods of research. Humanitarian dimension in economic education is indispensable since it helps to form abstract reasoning skills, important for the new generation of public servants capable of solving intricate and ambiguous problems .

The article presents an overview of the main available methodological approaches to implement the procedure of a quantitative assessment of workforce’s occupational risk in companies. The research methodology is based on the analysis of recent scientific publications and the investigation of methods and tools used in occupational risk assessment. In this study, the authors identify the advantages and disadvantages of using each methodology considered, assess the feasibility of the methods applied in activities aimed at improving the working conditions, industrial traumatism and occupational diseases reduction. The study proves that existing techniques based on rating-interval evaluating systems and matrix methods have significant limitations including infeasibility of application for the development of the list of activities to reduce occupational risk and a low level of evidence of the indicators and the assessment criteria applied. The analysis concludes with the requirements for the methodological approach to a quantitative occupational risk assessment.

This article provides the investment analysis, with the portfolio method being one of the frontmost instruments. The traditional portfolio theory implies that its essential criteria such as expected return and risk rate for all considered financial instruments are estimated from the historical data of equal length and are invariant throughout the usage period of the model. The authors suggest the approach which is a development of the Markowitz model. The point being, to estimate the expected return and the risk rate for each financial instrument in focus, an effective (own) learning sample is determined. The extremum seeking for the target function is performed through the method of full enumeration (cycle optimization) which provides the global extremum of the optimization criterion with restriction to the maximum permissible risk level. The sample size is tried upon two quality criteria considering accuracy of forecasts, namely: 1) the minimum condition of the sum of squared deviations of the projected values for the expected return, real values, 2) the maximization of the predicted forecasts when the investor expectations are met, with the minimal results when the real return appeared lower than the predicted one. The selection of the learning sample optimal length is performed on the principle of sliding verification of independent material. The described procedure is tested on realistic examples: the US stock market return forecast and staple crop yield gain forecast in the Russian Federation. The suggested algorithm underlying the synthesis of extensively diversified portfolios improves e investment problem solving effectiveness with contribution of considerations of both the markets in focus and the suitable financial instruments. .

Modern social networks are becoming a significant factor in stock market pricing because the information they generate expands the aggregate news background that determines stock prices according to currently prevailing efficient market theory. The news generated in the electronic media affect all the spheres forming supply and demand not only for manufactured goods but also through them for the prices of their manufacturers’ stocks. Normally, the relationship between the production of goods and the share price of its manufacturer is traced through economic indicators of profit, size of dividends, etc. Social information does not have a direct economic content. However, according to efficient market theory this kind of information should influence the share price. The article proves the influence of a trendsetter photo wearing certain brand clothes on the stock quotes of the company that owns this brand. The event analysis method reveals a short-term increase in company's share market price after the publication of a trend-setting blogger photos on Instagram, especially when it comes to a luxury brand. At the same time, the trend-setter profession and gender do not affect the abnormal rate of stock return resulted from the publication of his photograph. It proves a relative isolation of the “trend setter” itself in comparison with the personal characteristics of a blogger and turns this title into a specific independent factor in stock pricing.

The paper considers short-term forecasting of household final consumption expenditures using the consumer confidence index in Russia. The article presents a comparative analysis of consumption forecasting approaches using a leading indicator in various countries. The author makes consumption nowcasts based on quarterly data for the period from 2000 to 2021. Unlike most studies based on seasonally adjusted time series, the current study uses seasonally differentiated time series. To determine the predictive power of the index, the author builds several models which include in turn the consumer confidence index, index lags, and consumption lags. The quality comparison of different specifications with the root mean squared forecast error demonstrates that the inclusion of the consumer confidence index in the model increases the accuracy of both out-of-sample and in-sample forecasts. The conducted statistical tests confirm that the inclusion of a leading indicator in the model improves the quality of forecasts.

The article provides a comparative analysis of human theory within the framework of behavioral economics and modern Marxist political economy. Based on the systematized main items of these theories, the paper concludes that with all the fundamental differences, these directions reflect in different forms the objective phenomena of modern economics which require significant correction in prior notions of «homo economicus”. From the very beginning Marxist political economy would give a more complex picture with the diversity of goals and motives of human activity and behavior in different socio-economic systems. In recent decades behavioural economics has also taken these changes into account. Such corrections include, firstly, the interdisciplinary character of the study of a Man as an economic actor (behavioral economics stresses the importance of a dialogue with psychology and biology, Marxist political economy with social philosophy and sociology). Secondly, it is necessary to account not only for the irrational component of human behavior but also for the rational behavior’s orientation not only on market goals and values. Thirdly, taking into account the aggravation of global problems, both directions emphasize the need to add goals and values related to the development of human qualities, to the previous goals of economic activity (profit growth, GDP). At the same time the concept of «inclusive capitalism» is proposed within the «main trend» and at least deep reforms with concern to modern Marxism. The authors draw a conclusion concerning the possibility of advancing the strategy of eco-socio-cultural-oriented development based on the dialogue of the above-mentioned areas.

Initially political economy was non-Marxist but under the influence of ideology it has become Marxist; with rejection of official ideology of Marxism, it can and should again become non-Marxist. Marxism is an ideology/ policy that proclaims the inevitable death of capitalism and its replacement with socialism. Ideology forced political economy to abandon the subject — «the wealth of nations» (Smith) which was transformed into «social relations developing in the process of production, distribution, exchange and consumption of material goods, and economic laws governing their development in socio-economic formations historically replacing each other». Marxian economics was identified with the ideology of Marxism. The three constituent parts of Marxism have lost their relevance. The materialistic foundation of Marxism rested on three discoveries (the cell, energy conservation, and Darwinism). A new social organism was believed to have been born from a cell that existed in an old organism; the birth of a new one means the death of the old one. The history of all societies was represented by the history of the struggle between the exploiting and exploited classes, the result of which was a progressive change of formations. The discoveries of the XIX century were either refuted by modern natural science (cell theory), or significantly modernized (synthetic theory of evolution). The theory of class exploitation as a deduction from the product of labor was refuted by Marx. Rejection of Marxism does not mean rejection of the materialist understanding of history, but an understanding based on modern materialism. The subject of political economy in broad sense is various modes of life reproduction (analogue of a species) and their modification (population). The history of all previous societies was the history of struggle, not classes, but of modes of production of life. The subject of the non-Marxist political economy of capitalism is the relationship of the reproduction of the life of three large classes (capitalists, hired workers, landowners). The method is an analogue of the method for constructing genomes of biological species. Non-Marxist political economy and economics have a common subject and form two components of a new academic discipline «applied political economy», in which the descriptive method of economics is complemented by an explicative one.

In recent years, scientific periodical literature faces an increased interest to the problem of science-metric assessment of the efficiency of domestic scientists-economists. At the same time, scientific community is concerned with the increased level of labor intensity and the duration of the publication process in national journals on economics. The article aims to specify science-metric effectiveness as a criterion for the efficiency of scientific personnel. The authors attempt to solve the following tasks: to assess the current state of scientific publications in the field of economics, including the results of the research conducted by the authors; to provide a number of practical measures to improve the publishing process. The article systematizes the key modern trends in the publication process in scientific economic journals. It shows that leading foreign economic journals are characterized by an increase in publication time, an increase in requirements for manuscripts, and an increase in the influence of reviewers on the content of articles submitted. Based on the authors’ research among the Faculty of Economics, Lomonosov Moscow State University, the study identifies the qualitative features in scientific publications process and confirms the hypothesis that the conditions for publications in the leading scientific journals of Russia have become more complex in recent years, the publication time has increased and the requirements for them on the part of Russian publishers have increased. The authors of the study note the existing gap between the publications of Russian researchers in domestic and foreign scientific journals in the field of economics. The article provides recommendations to improve the publication process in economic journals and reduce transaction costs for the authors.

The work addresses an urgent scientific task of increasing the efficiency of public procurement management in the context of information asymmetry via the use of modern mechanisms and digital technologies. The subject of the work was formed by the study of the negative effects of information asymmetry on the stakeholders at the stage of selecting a supplier, as well as qualitative aspects of planning, budgeting and preparation of purchases by government customers. The theoretical basis is the theory of markets with asymmetric information, the theory of contracts, as well as the theory and practice of the process approach to management regarded in many significant world economic studies. The relevance of the work is justified by the expansion in the state sector, where procurement efficiency becomes of particular importance, and the constant displacement of high-quality goods, works and services from the market and their replacement with low-quality ones (the phenomenon of negative selection) becomes an obvious risk. In the light of the tasks facing the state, the author views the demand for development of a conceptual model and methodology for using digital mechanisms and modern information technologies both for microeconomic regulation and assistance to quality suppliers, and for increasing the efficiency of government bodies, state corporations, companies and enterprises

Social policy includes such components as health care, education, physical activity, and sports, where the state acts not only as a financier, but also as a provider of services. Studying the determinants of physical activity makes it possible to identify the set of social policy measures aimed at the formation of a healthy lifestyle. Among the determinants of physical activity, there are socioeconomic characteristics of an individual, such as age, gender, health status, income level, marital and employment status. There is also an individual trend for a healthy lifestyle, or to refuse it, which was formed because of the influence of the environment, education, and personal beliefs. The purpose of this article is to examine the influence of individual time preferences on physical activity. Physical activity is monitored using physical exercises and walking indicators. The proxy for individual time preferences is individual discount rate. This rate is determined using a hypothetical money experiment. Individuals with a higher individual discount rate demonstrate impatience in obtaining utility from consumption. They are not ready to take health-improving actions. The study is carried out on the data of a special survey of the Levada Center dedicated to a healthy lifestyle of the Russian population in 2017. The main hypothesis is tested by estimating the system of binary equations. Individuals with higher individual discount rate are less likely to engage in physical exercises for health purposes. The findings provide additional information for the development of public policy measures aimed at creating healthy lifestyle

The article examines the features of the behavioral and business model of joint consumption and its impact on the market. The subject of the study is the transformation of commoditymonetary relations occurring in the sharing economy. Global expansion of joint consumption in the world and its growing popularity in Russia, alongside the lack of relevant studies in Russian literature determines the relevance of the work. In order to study economic nature and market foundations of sharing economy, the authors apply an interdisciplinary approach as well as general scientific methods of analysis, synthesis and modeling. To assess the viability of this model in the face of new challenges, methods of statistical data analysis and expert assessments are used. The authors argue that the basis of sharing economy is a rationalistic model of individual’s behavior who refuses to own excess property in favor of temporary access to the good to save resources and maximize utility. The basic principles of sharing economy (rationality, efficiency, profitability, urgency and trust), as well as specific interaction of its participants, have an impact on commodity-monetary relations, leading to the transformation of market fundamentals: a change in private property paradigm, a shift in subjective foundations of the market and in the standard exchange scheme, a partial removal of market «failures». Recent challenges provide a real test of sharing economy, and demonstrate high adaptive abilities, which allows us to look positively at the future of a new consumption model and opens interesting areas for further research

The article examines the role of the Institution of Special Economic Zones for sustainable development of a country or region proceeding from new institutional theory and stakeholders approach. Accelerating development requires the conditions which might affect the quality of the Institution of Special Economic Zones entailed by the diffusion of basic rules and underlying mechanism between the levels of the institution. The author identifies and specifies the main stakeholders of macro-, meso-, micro-levels of the Institution of Special Economic Zones on the example of Russian Far East. Positive economic analysis makes it possible to identify most significant stakeholders and consider them according to the effect obtained. The paper highlights the features and expectations (interests) and the means to achieve them by stakeholders and the Institution of Special Economic Zones. Harmonization and balancing of their interests is subordinate to creating the conditions for increasing socio-economic effects and social wellbeing in the process of economic activity. The Institution of Special Economic Zones has such inclusive signs as the presence of centralized state power and an object for the formation of high-tech knowledge-intensive sectors in regional economy, and a good dynamic in the number of residents. All these create a turning point for the transition to a sustainable level of development, where the Institution of Special Economic Zones matters. The methodology for assessing its effectiveness becomes of great importance. It should be theoretically substantiated and scientifically and grounded to allow a comprehensive assessment of the Institution of Special Economic Zones influence on accelerating socio-economic development and creating comfortable conditions for the population of the Far East. The findings are of theoretical and empirical value and may be applied to design the policies of sustainable regional development.

In this paper we study the distribution of creative industries in the regions of the Russian Federation, build models of correlation between indicators of creative industries development among themselves, as well as models of correlation between indicators of creative industries development and socio-economic indicators characterizing the development of the regions of Russia. We argue that the distribution of creative industries in Russia’s regions is quite uneven, with a small number of leading regions having the largest number of creative enterprises that provide the largest contribution of creative activities, while in other regions the creative industries are less developed. We present the hypothesis explaining this specific distribution and construct the typology of the regions drawing on the level of creative industries development. To assess the influence of different factors on the degree of development of creative industries we built a number of models that allow to draw conclusions concerning the decisions to be taken at regional and federal levels to provide the conditions for the development of creative industries in Russia’s regions.

International tourism, with its positive effect on socio-economic development of entire regions and individual countries, plays a crucial role for Russia’s economic growth. The paper analyses the interregional differentiation in the development of international tourism in the Russian Federation. The study is based on the official data from the Federal State Statistics Service. Median indicators are calculated. Drawing on the methods of economic analysis, induction, deduction, comparison and generalization, the study reveals a significant disproportion of inbound and outbound tourist international flows in Russia in 2016–2019, with greater part of Russian regions being the donors of tourists for foreign destinations. The analysis of inbound and outbound international tourist flows allowed us to identify six typological groups of Russian regions. The results obtained make it possible to form a comprehensive outlook of the development of international tourism in Russia. Practical application of the proposed approach gives an opportunity to expand possible options for management decisions, acting as a tool of regional economic policy in the sphere of tourism.

This study develops an algorithm that allows one to assess the creditworthiness of a borrower — an agricultural enterprise. It incorporates a scoring model and coefficients’ standard values included in the model. The industry model is based on panel data from 99 companies, 39 of which went bankrupt between 2011 and 2020. The regulatory framework is compiled on the basis of the analysis of the most resilient enterprises in the industry, as well as bankrupts. To analyze the creditworthiness of enterprises, the authors analyzed 11 indicators used by JSC Rosselkhozbank. Using correlation analysis and other econometric tests, 5 optimal coefficients were selected out of 11 and a scoring model was built. The overall accuracy of the credit rating was high and amounted to 86.1%. The scoring model verified correctly 85% of non-bankrupt companies and 87.2% of bankrupts.

The paper considers prerequisites and consequences analysis of the relations in the heat supply field liberalization process of taking place in the Russian Federation. The article is dedicated to theoretical and practical background for liberalization, which determine the possibility and feasibility of a radical change in the system of relations between participants in the heat energy markets. The author considered the forms of using competition mechanisms in heat markets: competition between centralized and decentralized heat supply, competition between heat producers, competition for admission to market entry, quasi-competition based on incentive regulation. The article examines Russian instruments for liberalizing heat energy markets. The author identified the features of the new (target) model of the heat energy market formation and changes in the spheres of responsibility of its individual subjects, including the strengthening of the institution of unified heat supply organizations. Separately, the author assessed the price (tariff) consequences of the transition to pricing for thermal energy using the “no more expensive than alternative sources of heat” method. This method provides for setting a contractual price for heat energy not higher than a ceiling level that the regulator approves based on the cost of heat supply from an “alternative” heat source (boiler house). The author investigated changes in prices (tariffs) for heat energy for consumers in municipalities pioneering the transition to price zones of heat supply. The article reveals that the establishment of a tariff by the “alternative boiler house” method did not effect to a sharp rise in prices (tariffs) for consumers. This is based on the application of measures provided for by legislation. In conclusion, the author made recommendations on further expanding the composition of price zones for heat supply.

The choice of manufacturing organization form and contracting method on the industrial markets requires evaluation of market volatility, including identification of the risks from the side of adjacent markets. The study aims at determining the ways synthetic rubber market participants adjust to imbalances in supply and demand. The analysis of consumer properties of synthetic and natural rubbers in the context of their industrial consumption allows us to argue that these types of rubber turn out to be both complements and substitutes at the same time. What is more, some of them may belong to the same market within the product boundaries (in terms of antitrust legislation). We use foreign trade customs statistics and historical production and consumption data to identify the sources of market imbalances such as: the gap between synthetic rubber production cost and the price of natural rubber; economic bubbles caused by the fluctuations in supply and the price of natural rubber; volatility in the demand for rubber from its main consumers — tire factories. We then turn to the possible risk mitigation mechanisms that may help market participants to cope with the imbalances: formula pricing, vertical integration and horizontal differentiation. The implementation of these mechanisms in practice is illustrated through cases of Russian companies: PJSC Nizhnekamskneftekhim, PJSC TATNEFT and SIBUR. We conclude with the recommendations on tools for synthetic rubber production development.