Economic

Conceptual aspects of sustainable development of economic systems: Evolution of approaches and modern paradigm

Introduction. The relevance of scientific substantiation of approaches to sustainable development management is due to the need to take into account external changes and the development of conceptual provisions for the adaptation of economic systems. Theoretical analysis. The article summarizes the main approaches to the interpretation of the “sustainable development” concept. The evolution of economic thought and the historical transformation of views towards the study of sustainable development concerning various objects are considered. The scientific approaches and studies of leading foreign and domestic scientists are presented, which constituted the theoretical and methodological basis of the sustainable development concept. The essence of the category “sustainability of development” concerning economic systems is revealed. Empirical analysis. The economic, social and environmental substantiation of the sustainable development concept is given. The external and internal factors influencing the stability of economic systems are investigated. The stability of the system is considered through the prism of such interrelated system characteristics as controllability and adaptability. Results. The relevance of the application of an integrated approach to the study of the triad “society – economy – ecology” is shown. It is substantiated that the synergy of the main provisions of economic theory, conceptual principles of sustainable development, system analysis of the countries’ development determinants in the context of new global challenges and threats should underlie the strategic provision of sustainable development in the long term.

Unevenness analysis of agricultural production in Russia

Introduction. Agriculture affects the food, economic and social security of the country. The unevenness of agricultural production is due to natural, climatic and economic factors, for example, the enlargement of enterprises, the introduction of efficient means and production technologies. The increase in territorial unevenness can lead to a shortage of food, its rise in price due to transport markup. Unevenness in the size of organizations also has socio-economic implications. The efficiency of agricultural production is growing, but competition and entrepreneurial activity are decreasing. An increase in social tension is possible in case of a single enterprise bankruptcy. Theoretical analysis. To assess the territorial unevenness of agricultural production, the Gini coefficient and the Lorenz curve were used. The unevenness of organizations in terms of revenue was estimated basing on the ABC analysis and the Pareto curve. Еmpirical analysis. Subjects of the Russian Federation with a predominance of forestry, hunting, fishing and fish farming were excluded from the analysis. The Gini coefficient for the GVA of the regions of the Russian Federation in 2018 was 0.45, and in 2008 – 0.48. The territorial unevenness of agricultural production in 2009–2018 has slightly decreased. The Russian Federation regions typology made it possible to identify favorable, risky and unfavorable regions for agriculture and animal husbandry. Results. A significant unevenness of agricultural production both in the territorial context and in the size of organizations was revealed. For 2009–2018, territorial unevenness has decreased. The ABC analysis showed that 80% of revenue from the type of agricultural activity accounted for only 10.9% of active enterprises.

A modern Scandinavian “Saga about political economy”: “Against the Stream. Critical Essays on Economics” by Gunnar Myrdal

Introduction. It is proposed to pose the question of the original understanding of fundamental economic science as a political economy, presented by Gunnar Myrdal in the book “Against the Stream. Critical Essays on Economics”, which can be regarded from a certain point of view as a modern Scandinavian «Saga about political economy». Hermeneutic analysis. G. Myrdal’s paradigm concept, based on the concept of “establishment economics” was more meaningful than the modern use of the term “mainstream” to characterize the dominant flow of economic thought. The theoretical and methodological substantiation of the scientific hypothesis about the periodic emergence of crises and the formation of the economic science evolution cycles made it possible to explain the chronology of the Keynesian paradigm ascent and decline cycle by changes in economy and society. The arguments in favor of the institutional approach prompted a fundamental conclusion about the advisability of returning economic science to the original name of political economy and restoring its spiritual, moral, value dimension. G. Myrdal questioned and refuted the traditional abstract assumption about the conflict between economic growth and egalitarian reforms, for which one must pay a high price such as the national economy productivity decline, proposed the concept of “created harmony” to characterize the modern welfare state. Conclusion. The interpretation of the scientific monograph “Against the Stream. Critical Essays on Economics” in the style of Scandinavian “Saga about political economy” added a lot of very interesting details, judgments, explanations that substantively complemented the theoretical and methodological approach, showed the opportunity to study, research and present the history of economic thought in an attractive literary style without sacrificing depth and completeness of acquired knowledge.

Assessment of the Russian regions’ social security dynamics

Introduction. For a more accurate assessment of dynamics and achievement of set goals in the social sphere, research on methodological issues of social security and the development of indicators system for its assessment and monitoring are relevant. Theoretical analysis. The article examines theoretical aspects of the “social security” definition, identifies approaches to the definition of this concept and methodological difficulties in interpreting the assessment of the regional systems’ socio-economic security. Empirical analysis. To analyze the dynamics of the Russian regions’ social security level, an integral index was compiled on the basis of statistical indicators and a social security rating of 82 Russian regions was built. It includes 16 indicators in 5 groups, characterizing the main sphere of social security. Results. The revealed polarization of the Social Security Index values indicates the uneven social development of Russian regions, which is a significant threat to the economic security of the national economy as a whole and economic development in particular. Conclusions. The analysis made it possible to assess the level of Russian regions’ social security, to compile a rating and grouping of Russian regions according to the level of social security.

The state role in the investments development in Russia’s digital economy

Introduction. The current stage of development is characterized by widespread digitalization of almost all economy spheres. One of the key areas for the developing digital economy in the Russian Federation is investments and investment relations. The state supports and develops the investments in data-driven formation of the digital economy. The article examines some of the subjects of the country’s influence on the mechanisms for expanding the innovation investment sphere, regarding local development specifics. Theoretical analysis. There are two categories for considering government influence on investments in the digital economy – the investment climate and the country’s investment policy. The key part of the research process is a set of economic, sociological and statistical methods, as well as applied scientific analysis in digitalization field of public institutions, institutional investment and investment relations as part of the economic system. Empirical analysis. Analyzed topical aspects of state role on the investments development in a rapidly changing environment, divided them into six fundamental categories. The process is presented in the forms of activating the legislative process and the testing of regulatory “sandboxes”. The article describes the caution of the Russian Federation in choosing a supported investment industry, its type and accompanying regulatory legal acts. Results. The research shows the development aspects description chosen by the state to support investment in digital economy conditions and a fact analysis of the state methods of influence on investment relations in the context of global and country economy digitalization.

Formal institutional factors’ influence on Russia’s internal debt dynamics

Introduction. The role of domestic government borrowing in Russia’s fiscal policy has become prominent in 2020. The relevance of this topic is related to the budget’s need for additional sources of financing due to COVID-19 pandemic. The effectiveness of the state’s debt policy is influenced by many factors: the political structure of the state, legal institutions, the economic situation in the country, the quality of infrastructure. In this study, the impact of formal institutional factors on the dynamics of domestic debt, the possibility of improving debt policy in modern conditions are analyzed. Theoretical analysis. The article reveals the concept of institutions in the context of domestic debt, the causal dependence of the public borrowing dynamics on the functional characteristics of the formal institutions that form it. Empirical analysis. The analysis of the main formal institutional factors, namely: legal institutions, the economic situation in the country, the infrastructure and the political structure of the state is carried out. Results. In the course of studying the factors of domestic debt growth, the weaknesses of formal institutions that determine the dynamics of state domestic borrowing in modern conditions were identified. Proposals are made for improving the state policy in the sphere of Russia’s state debt.

Types of synergetic effects in Russian economy

Introduction. In modern reality, great importance is given to synergetics and the synergetic effects that arise in Russian economy. Their appearance is influenced by such factors as various interactions of the economic system elements, the non-linear development of the economy, stable and dynamic processes in the economy of the country. Several aspects of the emergence and functioning of synergetic effects can be distinguished: the time trend, multiplicative changes, and the spatial-functional aspect. It is necessary to study these aspects and types of synergistic effects. This is the relevance of the research topic. Theoretical analysis. The analysis of the time aspect is of particular interest. The following types of synergy are distinguished: permanent, temporary, and trend (prolonged). From the position of the multiplicative changes monoenergetic effects and diversified (multiple) synergistic effects emerge. Optimal and non-optimal effects play a special role in the economy. The initial, pre-optimal and optimal synergy are considered from the point of view of the level aspect. Synergy, synergy and quasi-synergy are revealed using a historical-logical approach at the macro level. Internal and external, economic and non-economic factors of optimal and non-optimal synergistic effects are identified. Results. The consequences of synergetic effects for the development of the Russian economy are revealed.

Factors of the Russian-Chinese economic relations development in the Eurasian integration field

Introduction. We can confidently say already that in the current conditions of global economic development, China is the most important and priority partner in the development of our country’s foreign economic activity. Theoretical analysis. The development of a strategic approach to bilateral economic cooperation with China is the most relevant in the modern system of coordinates of Russia’s foreign economic activity. Nowadays China is really the most important and priority partner in the issues related to the development of our country’s foreign economic activity. There have been different stages in the history of relations between Russia and China, but their current state gives hope for even greater mutually beneficial effect in the strategic perspective. The need to study the formation, transformation and development of Russian-Chinese relations in the context of foreign economic relations and projects is due to the growing influence of China in Russia over the past four years, the cooling of relations between Russia and the West after the events of 2014 and the Russian “turn to the East”. Empirical analysis. Speaking about the effectiveness of foreign trade relations between Russia and China in 2019, it should be noted that Russia’s trade turnover with China in 2019 increased by 3.4% to $110.76 billion, including Russia’s exports to China increased by 3.2% to $61.05 billion, imports from China to Russia increased by 3.6% to $49.7 billion. In comparison, the trade turnover between China and the United States fell by 14.6% to $541.22 billion againist the background of a trade war between these countries. It amounted to USD 541.22 billion, with USD 418 billion coming from China to America. Results. The prerequisites and factors for further development of relations and deepening of trade and economic cooperation between Russia and China have recently been growing. In addition to classical factors: geographical, territorial and, consequently, common border, which allows the development of new forms of cooperation and business (cross-border trade, cross-border economic zones and clusters, interbank settlements in national currencies in border areas, etc.). Political factors are increasing, as well as the impact of modern world economic trends on deepening bilateral economic relations between the countries. However, it is important to remember that in today’s realities Russia needs China more than China needs Russia.

Competitiveness: Conceptual approaches and research levels

Introduction. Currently, the term “competitiveness” is firmly established in scientific literature and professional usage. It has become the subject of various methodological, theoretical and applied research. In literature, one can find different approaches to analyzing the problems of economic content of competitiveness. This is primarily due to the fact that as the market economy developed, the very category of “competitiveness” was interpreted by scientists basing on their own understanding of the current situation, the purpose and objectives of the study. This led to its overly wide use, when the concept of competitiveness was often not applied in its essence. Therefore, the relevance of this study is obvious. Theoretical analysis. The article summarizes various conceptual approaches used in economic science in the study of the category of “competitiveness”. Results. The concept of the “competitiveness” category is clarified, the levels of competitiveness research are considered, and their relationship is shown.

A century of J. M. Keynes’ macroeconomic masterpiece

Introduction. In this article, the point of view that recognizes J. M. Keynes’ book “The Economic Consequences of Peace” as his best work, dedicated to the results of the Versailles Peace Conference and published in December 1919, is substantiated. The uniqueness of this publication is due to the author’s participation in the negotiation process, expressing a personal position of protest against the content of the Versailles Peace Treaty and the destructive consequences of its implementation. Scientific review. The experience of macroeconomic research of the European economy transformations at the turn of the XIX–XX centuries is analyzed. The logic of the author’s concept development corresponded to the historical course of events: the economy of Europe before and after the war, on the eve of a peace treaty and the prospects for its post-war recovery. The chronological macroeconomic approach was relevant and productive. The scientific creativity of J. M. Keynes, presented in “The Economic Consequences of Peace”, was an original combination of a commitment to the tradition of English economic thought and an innovative understanding of extraordinary macroeconomic trends and extraordinary structural transformations of the economy. Conclusion. It explains the fundamental importance of the book “The Economic Consequences of Peace” in the scientific work of J. M. Keynes. In the process of its writing, bold, innovative ideas developed that served as a theoretical and methodological key to the formulation and solution of problems in the most famous book “The General Theory of Employment, Interest and Money”, published later. “The Economic Consequences of Peace” is a creation that deserves the status of a world economic thought classics, a masterpiece of macroeconomic theory that has not lost its scientific value and relevance in the century since its creation and publication.

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