Factors of economic development and structural reforms in Russia

Subject. The article addresses the financial and economic development of Russia. Objectives. The focus is on identifying the essence of and conditions for financial and economic development of Russia. Methods. The study rests on the systems approach, using the method of statistical analysis. Results. The performed analysis unveiled an increase in the growth rate of reserve assets due to the negative growth rate of net errors and omissions. This enabled to maintain the growth rate of the current account (with the exception of reserves and related items), increase the issue and coupon yield of federal loan bonds, and reduce the growth of nominal GDP and investments, and a fall in domestic demand. The study found that against a backdrop of a decrease in the specific weight of M0 in M2, there was an increase in the number of credit institutions that generate profit, as well as negative growth rates in the financial account, derivative financial instruments (except for reserves), stock options, capital flows, and credit. I revealed a negative trend in the decline of the current account indicators caused by the active use of derivative financial instruments (except for reserves) and stock options. Conclusions. The essence of and conditions for Russia's financial and economic development are determined by the activities of the Central Bank and the Ministry of Finance, which apply an accounting approach to eliminating the manifestations of global changes in the current form of the world order.

In the context of historical events and global trends, the monograph examines ways to improve the legal regulation of educational, scientific and technological activities in Russia. Proposals are presented aimed at eliminating the so-called governance gaps in the scientific and scientific-technical sphere, ensuring the interests of the state in the processes of developing strategic planning documents and ensuring technological sovereignty, implementing measures of an interdisciplinary approach to improving the mechanisms of strategic management of scientific and technological development and a project approach to solving problems of coordination and developing a unified goal-setting system for the management of scientific and technological development.- technological development. It is addressed to those who have the right to legislative initiative, as well as representatives of state executive authorities and local governments. It will be useful for employees of the Russian Academy of Sciences, researchers and specialists involved in strategic management in the field of education, science and innovation. It will also attract the attention of those who seek to make the scientific and technological complex a key factor in Russia's economic development.

The increasing pressure of exogenous factors on the activities of mega-regulators at the time of the post-pandemic transformation of the market and changing monetary policy leads to lower profitability of deposits at commercial banks and at the same rises the yield curve of weighted average interest rates on interbank loans granted in euros, dollars, pounds and other currencies. The trading processes on the futures market are being intensively digitalized and so the post-pandemic transformation of the market is causing market players seeking to hedge risks to change their behavior. Changes that occurred on the debt capital market during the pandemic have increased investors’ interest in international derivatives market instruments and sped up the transformation of regional features of the derivatives market. These changes are mainly caused by the spread of the coronavirus infection and its impact on the global economy, which contributes to the development of digital technologies as instruments of interregional trade. International economic activity has been transformed by the opening and closing cycles of the economies of different countries, which affects the logistics and business processes of economic agents. The transformation of economic activity manifested in structural shifts occurring on the derivatives markets is confirmed by the changes in the dynamics of underlying assets of the derivatives market, such as stock indices, stocks, commodities, currencies, interest rates and ETFs. The analysis of the condition and specifics of the international derivatives market has revealed two problems worthy of independent research: 1) identifying major structural shifts in the international derivatives market that occurred during the pandemic; 2) evaluating the impact of the post-pandemic transformation of the market on the Russian derivatives market. The main parameters of the derivatives market, such as capitalization and trading activity, were determined in order to solve the indicated problems. The study of the dynamics of these indicators in the aggregate system of data of the international derivatives market allowed us to identify the main development trends on this market and assess the degree of influence of the pandemic on its main tools. The analysis of the regional characteristics of the international derivatives market made it possible to find out the main changes that took place on American, European, Asian, Middle Eastern and African exchange markets affected by growing digitalization. The data obtained made it possible to identify the place of the Russian derivatives market in the system of world economic relations on the derivatives markets during the period of post-pandemic transformation of the market and to compare the changes that took place in the Russian derivatives market with the trends of the international derivatives market. KeywordsDerivatives marketFutures contractsPost-pandemic transformation of the marketStructural shiftsDigitalization

The article provides the analysis of the key indicators of the Russian economic development: gross domestic product, unemployment rate, consumer price index, investment in fixed assets, industrial production growth rate for the period from 2000 to 2013 allowing the creation of economic cycles. The results of the polynomial forecast of the mid-term cycles of economic development in Russia for 2014-2015 are presented without regard for the state anticyclical policy.

Global warming has become the focus of attention of the international community, and the control of carbon dioxide emissions has become one of the necessary choices for the development strategies of countries around the world. Cities are places where carbon dioxide emissions are concentrated. The key to controlling carbon emissions is to control the carbon emissions of cities. My country is currently in the process of rapid urbanization. Quantitative studies of the carbon cycle at the city level will help to take stock of carbon dioxide emissions in cities. On the other hand, it is helpful to understand the status and role of the urban carbon cycle in the process of the regional carbon cycle. Through the analysis and prediction of the elements influencing the carbon cycle of smart cities, this paper first determines the factors affecting smart cities in the carbon cycle process as industrial carbon emission strength factors, industrial structure effects, economic development factors, and population elements. It is found that the major positive factors affecting the significant add of CO2 emissions in smart cities from 2010 to 2019 are economic development factors and demographic factors, including economic development factors GDP/per capita GDP. The per capita contribution to CO2 emissions is higher than the model established by adjusting the affecting elements of overall CO2 emissions, except that the proportion of economic development factors in total CO2 emissions from 2013 to 2015 was lower than the increase in total CO2 emissions. The comparison can better reflect the relation between CO2 emissions and influencing elements. The main determinants affecting CO2 emissions are the expansion of the financial condition, the increase in the average daily population, and the increase in construction work. The adaptation index is judged to be consistent, indicating that the model adjustment effect is good; finally, the green computing in the smart city predicts the carbon cycle process, and the actual value trend line and the predicted value trend line are not much different from the practical value, the forecast error is small, and the prediction results are credible. Global warming has become the focus of attention of the international community, and carbon emission control has become one of the necessary options in the development strategies of countries around the world. Cities are the places where carbon emissions are concentrated. The key to controlling carbon emissions is to control urban carbon emissions. At present, my country is in the process of rapid urbanization. Quantitative research on the carbon cycle at the city level will help to establish an inventory accounting of urban carbon emissions. On the other hand, it is convenient to deeply understand the status and role of the urban carbon cycle in the process of the regional carbon cycle.

Subject. The article considers the debt economy of modern Russia. Objectives. The purpose is to describe Russia’s debt-laden economy. Methods. The study rests on systems approach, using the method of statistical analysis. Results. The study identified necessary links in the Russian economy, i.e. international investment position, balance of payments, external debt, debt of the non-financial sector and households on bank loans and issued debt securities, contracts for the purchase of dollars and yuan with tomorrow next settlements in rubles, volume of government bonds of the Russian Federation. The paper establishes active growth of the international investment position of the Russian Federation, with increasing frequency of its negative growth rates, in the context of a decrease in the growth rate of the balance of payments in the dynamics of the activation of compensatory mechanisms aimed at combating its reduction. The paper also reveals an increase in the dynamics of the debt of the non-financial sector and households on bank loans and issued debt securities at average values of their growth rates. The main methods of securitization of Russian assets are the weakening of ruble exchange rate and support for State corporations. Conclusions. The debt-based economy of modern Russia specifies opportunities for monetary authorities to replace foreign debt obligations and ensure the growth of the international investment position in a situation of declining balance of payments.

The objective of the article is a comprehensive study of state policy in the field of higher education in Russia, an analysis of its conceptual foundations and practical mechanisms for implementation. The relevance of the work is due to the dynamic transformation of the educational space under the influence of the technological revolution, globalization processes and the changing requirements of the modern economy for the training of specialists. In the context of digital transformation and increased international competition in the field of knowledge, higher education is acquiring strategic importance as a factor in economic development and national security. This requires the state to develop a balanced policy that combines innovative approaches with the preservation of traditional academic values. Of particular importance are the issues of ensuring equal access to quality education and supporting research activities in universities. The methodological basis of the study is based on a combination of a systems approach and interdisciplinary analysis. The study of the regulatory framework and strategic documents allows us to identify the priorities of state regulation in the educational sphere. The use of sociological methods (expert interviews, public opinion analysis) makes it possible to assess the effectiveness of the measures being implemented and identify existing problems. Particular attention is paid to the role of the state as a system-forming element in the development of higher education. The theoretical significance lies in the systematization of problematic aspects of state policy in the field of higher education in modern Russia, which contributes to the deepening of scientific understanding of its effectiveness and contradictions. The work expands the theoretical basis for the analysis of educational reforms, identifies key trends and patterns, and forms the basis for further research in the field of educational policy. The results can be used to develop new concepts and models of higher education management. The practical significance lies in identifying key problems of higher education, which allows developing recommendations for government bodies to improve educational policy. Based on current data, the authors identify key trends and prospects for the development of the Russian higher education system in the context of global challenges.

The article discusses the problems of spatial development of the Russian Federation, analyzes the causes and trends of changes in the spatial structure of macroeconomic indicators by federal districts in the period 2008–2015 which witnessed the cyclical nature of economic development in Russia, and assesses the factors of regional growth for the period under consideration and the potential for further development of the Russian federal districts. The research focuses on the economy of the Russian federal districts in the period 2008–2015 characterized by the cyclical nature of the development of the Russian economy. On analyzing the periods of recession alone, it is almost impossible to obtain detailed information about the factors of economic growth. At the same time, analyzing merely the periods of growth does not take into account the possibilities of crises and their consequences. For a more detailed analysis, the time boundaries of the study were divided into three periods 2008–2010, 2010–2013 and 2013–2015.The work is aimed at analyzing the changes in the structures of macroeconomic indicators of the Russian Federation by federal districts in the period 2008–2015, determining the reasons and tendencies of their changes, studying the factors of regional growth in 2008–2015, and assessing the potential for further development of the regions of the Russian Federation. The research toolkit includes the methods for analyzing structural changes as well as the methods of logarithmic and proportional division. The analysis of structural changes was used both when considering GRP growth rate at constant prices and when studying the factors of growth at total labor productivity. Logarithmic division was used when dividing the yield rises by the rises of each of the factors (e.g. decomposition of GRP rises in current prices). Proportional division was used to assess the impact of regional industries on economic growth as a whole.

There is a large imbalance between demand and supply of energy in Nigeria, with inefficient power supply being the country’s greatest economic bane. Aside energy crisis, fuel is a luxurious commodity and petroleum diesel is the predominant fuel for power generation, particularly in the industrial sector. As a result, the country suffers from forced power outages, and persistent black out while residents and industries are forced to depend on self-generated electricity. These have notably reduced industrialization and increased environmental pollution across the country. This paper proposes the use of Jatropha biodiesel as a substitute fuel to petroleum diesel. It examines the energy efficiency and environmental life cycle impact of the production and use of 1MJ of Jatropha biodiesel in a typical 126 MW (ISO rating) industrial gas turbine power plant with multi-fuel capability using life cycle assessment methodologies and principles. A net energy ratio of 2.37, 1.54, and 1.32 and fossil fuel savings of 58%, 36% and 27% were achievable under three farming system scenarios: a) base-case rain-fed, b) base-case irrigated and c) large scale farming system. Also, an environmental benefit with GHG savings of 19% was attainable under the three farming scenarios. The results demonstrate that the contribution of GHGs and effect on climate change is most significant with the end use of the fuel. It also highlights the importance of clear definition of the reference system which should be indicative of the local production system and comparative to the system under study. A favourable business and economic climate driven by demand is proposed for Independent Power Producer (IPP) to generate power for off-grid users instead of generating power for the national grid using a decentralized Jatropha biodiesel production system coupled to waste to energy technologies. This could significantly improve the energy situation; diversify the energy generation mix and fuel supply in Nigeria, especially for small-scale businesses and the rural population.

FOR at least the last two decades the South and Southwest have been the fastest growing regions in the United States. During this period we have witnessed considerable shifts in the location of economic activity and, overall, the movement has been decidedly toward the South. Since the early sixties, when this southern migration began to accelerate, an increasing amount of public attention has been directed to this topic; so much so that it is now popularly referred to as the Sunbelt phenomenon. Numerous explanations have been advanced to account for this rapid growth in the South, but three explanations have persistently evoked an impressive level of debate. First, many have argued that a significant portion of this regional redistribution can be attributed to differentials in state and local taxing policies; in particular the state corporate income tax. These rates vary considerably across states, but even more important is the observation that there have been significant changes in the structure of corporate taxes over the last few decades. Beginning in the early 1950s the relative tax rate' for several southern states, particularly those in the East South Central and West South Central divisions, began to decline sharply. On the other hand, relative tax rates for three divisions, New England, the East North Central and the MidAtlantic, rose in the early sixties. By 1970 the relative tax rate ranged from 0.60 in the West South Central (down from 1.20 in 1950) to 1.37 in the Mid-Atlantic (up from 1.15 in 1950). Notwithstanding these stylized facts, the consensus from previous empirical work on industry location suggests that state taxes have not influenced the direction or magnitude of industry migration. However, there are reasons to believe that acceptance of this conclusion may be premature. For example, in the early body of work, results were based on simple correlations of tax levels and changes in either value added or employment.2 More recent attempts to empirically model corporate tax effects have arrived at somewhat ambiguous results. Carlton (1977), examining three 4-digit industries, found that corporate tax differentials failed to explain any of the variation in new births of firms across SMSAs. Hodge (1979), while confirming Carlton's results for the same industries, discovered that taxes have significantly affected regional investment patterns in another industry not covered in Carlton's study.3 Why taxes mattered in one industry and not in the other three remained a matter of ad hoc speculation. A second explanation alleges that states in the South have begun to exhibit a more favorable business climate. Although it is difficult to measure directly a state's business climate, one important manifestation of that climate is its position with respect to the division of power between union and management in the collective bargaining process. Legal obstacles to union organization and bargaining power will be viewed by firms as a positive signal of a pro-business environment. The creation of legislative obstaReceived for publication October 29, 1981. Revision accepted for publication April 16, 1982. Miami University. The author is especially indebted to Michael Ward at the Rand Corporation for numerouls helpful discussions throughout the preparation of this study. Also, the author benefited from the advice and comments of John Antel, Robert Cotterman. Lee Lillard, John Lunn, William J. Moore, James Smith, Finis Welch and two referees of this REVIEW. Financial suppoI-t was provided by the Foundation for Research in Economics and Education at UCLA and the University of British Columbia Humanities and Social Sciences Committee. I The relative tax is defined as a state's tax rate divided by the average for all states. As in most economic discussions, it is relative price that matters. 2 For a review of earlier work see Due (1961). Some of the studies reviewed include Bloom (1955), Campbell (1958), Floyd (1952), and Larson (1957). See also Garwood (1952). 3 Most of the other empirical work focused exclusively on intt--urban location decisions and hence had no reason to examine state corporate taxes. However, they found local tax differentials (inter-zonal) were unimportant in determining intra-urban movement. For example, see Moses and Williamson (1967) and Schmenner (1978).

A high degree of uncertainty in the future development of global and Russian economy due to the corona-virus epidemic proliferation, the global economic downfall, which followed the introduction of quarantine measures in some countries make the issue of changes in state budget policy in the Russian Federation more and more acute. Despite the seeming finance stability of the budget system of the Russian Federation characterized by the surplus federal budget during two previous years and min deficit budgets of other levels, it still depends on external factors of the economic development. Policy of the Ministry of Finance aimed at adjustment of federal budget fund use to fluctuations of global oil prices within the frames of the budget rule can form considerable reserves, but at the same time it can cause a drop in investment and consumer demand and sl ow down in economy development. This approach to developing and implementing budget policy could ruin the budget essence as an active tool of state regulation of economy, especially in current conditions. Transforming the model of obligatory balance of the federal budget and accumulating sovereign reserves in conditions of growth absence in Russian economy for the large-scale stimulation of the population and business demand require scientifically grounded approach. New economic conditions demonstrate the necessity to provide well-balanced parameters of the federal budget within the frames of the budget rule. The possibility to combine these goals depends on degree of realizing key budget risks and stability of state finance to them. The article carried out modeling of key parameters of the federal budget depending on risk defining factors and effective restrictions by the budget rule provided an opportunity to advance a hypothesis that the basis of the long-term balance of Russian federal budget is formed by a new model of state budget policy leaning on the alternative use of finance tools and acceptable easing of budget rule restrictions.

The gross domestic product of Russia, expressed in US dollars, indicates problems in the Russian economy associated with the decline in oil prices on the world energy market and the consequences of the sanctions of the United States and the European Union against Russia. The crisis situation of the Russian economy has a negative impact on the income of the population of country, represented mainly by wages. However, an economist or investor may be optimistic about Russian economic development in the medium term. This optimism is related to the economic policy of the United States. The expansion of the United States economy within the global space, based on economic growth, requires maintaining inflation within the target level and weakening the US dollar. These tasks are solved with the help of soft monetary policy of the US Federal Reserve System. The reduction of interest rates by the US Federal Reserve System against the background of inflation of the target level and the devaluation of the US dollar will contribute to economic growth in the United States, because it will lead to the depreciation of public debt, lower consumption of imports, increase in exports and trade balance, growth of production, income, consumption. The economic policy of the United States, which contributes to the devaluation of the US dollar, will also reduce the US dollar against the ruble. The optimistic view of investors-economists on the Russian economy is due to a significant strengthening of the ruble against the US dollar. Consequently, in the medium term, the gross domestic product and wages of citizens of Russia, expressed in US dollars, will significantly increase, and the purchasing power of the national currency of the country will also increase. This growth may continue until the next election of a new President of the United States in november 2020. After the election of the new President of the United States, there is a high probability of sanctions against Russia and of decline in oil prices in the world energy market in accordance with the future economic policy of the United States – two main reasons for the sharp strengthening of the US dollar against the ruble, which will cause a deeper economic crisis in Russia in the medium and long term.

While working on the final draft of Das Kapital Volume I, Marx discovered that the assumption that he had previously held: as it circulated capital extended its sphere of operation and at the same time absorbed earlier forms of economic organization was not supported by empirical evidence. From 1869 he began to study how in fact capital began to circulate in Russia, a country which had begun to create a capitalist economy after the liberation of the peasantry in 1861. Marx was aided in this project by Nikolai Danielson, who sent him materials on the Russian economy and who himself made a study of contemporary trends in Russian economic development. Marx contributed to the article Danielson published in 1880 on this subject. One of the works Marx acquired was the book by Vorontsov, who concurred with Danielson that only some features of capitalism were present in the Russian economy and that peasants were dispossessed without being re-deployed in capitalist enterprises. Marx died without incorporating his Russian material into the second volume of Das Kapital. Engels failed to see any problem with the circulation of capital and published the manuscripts as he found them, dispersing Marx’s Russian materials. Unlike Danielson, Engels was convinced that Russia’s economic development did not differ in any way from that of Western Europe, a conviction shared by Plekhanov and Lenin, who classed Danielson and Vorontsov as “narodniki.” Lenin’s book The Development of Capitalism in Russia is a polemic against Danielson and Vorontsov, but does not directly address the points they made.

The article analyses the state of public health in modern Russia, the dynamics of demographic indicators, healthy life expectancy, primary and general morbidity, disability, mortality in infancy and working age. We also present comparisons using international statistics from the World Bank, the World Health Organization and the OECD. Further, we give the characteristic of the factors influencing public health in Russia. The article presents the results of Russian researchers of public health and their foreign colleagues, showing that most of the deaths and diseases of Russians are the result of an incorrect lifestyle. The most significant contribution to mortality and health deterioration has such phenomena as high blood pressure (which itself is a consequence of an unhealthy lifestyle), alcohol abuse, smoking and overweight. The most detailed attention we paid to the underfunding of the health care industry and the negative consequences of the process of its reform.

Books reviewed:Kate Sealey RRahman, Ostrovsky: Realit and IllusionMark Lipovetsky, Russian Postmodernist Fiction: Dialogue withChaosJohn Glad, Russia Abroad: Writers, History, PoliticsW.F. Ryan, The Bathhouse at Midnight: An Historical Survey of Magic and Divination in Russia.Charles A. Ruud, and Sergei A. Stepanov, Fontanka 16: TheTsar's Secret Police.David Moon, The Russian Peasantry 1600‐1930: The World the Peasants Made.Simon Dixon, The Modernisation of Russia, 1676‐1825.Sergei Kan, Memory Eternal: Tlingit Culture and Russian Orthodox Christianity through Two Centuries.Thomas M. Barrett, At the Edge of Empire: The Terek Cossacks and the North Caucasus Frontier, 1700‐1860.David Wolff, To the Harbin Station: The Liberal Alternative in Russian Manchuria, 1898‐1914.B.V. Anan'ich and R.Sh. Ganelin, Sergei Iulevich Vitte i ego vremia.Mark Bassin, Imperial Visions: Nationalist Imagination and Geographical Expansion in the Russian Far East, 1840‐1865.Laura Engelstein, Castration and the Heavenly Kingdom: A Russian Folktale.Richard Haywood, Russia Enters the Railway Age, 1842‐1855.Anna Geifman, ed., Russia under the Last Tsar: Opposition and Subversion, 1894‐1917.Judith Pallot, Land Reform in Russia, 1906‐1917: Peasant Responses to Stolypin's Project of Rural Transformation.O.V. Budnitskii, ed., Evrei i russkaia revoliutsiia: Materialy iissledovaniia.V.L. Telitsyn, Skvoz' ternii "voennogo kommunizma":Krest'ianskoe khoziaistvo Urala v 1917‐1921 gg.Lynne Viola et al., eds., Riazanskaia derevnia v 1929‐1930 gg.: Khronika golovokruzheniia: Dokumenty i materialy.Anthony Heywood, Modernising Lenin's Russia: Economic Reconstruction, Foreign Trade and the Railways.Otto J. Pohl, Ethnic Cleansing in the USSR, 1937‐1949.Lynne Atwood, Creating the New Soviet Woman: Women's Magazines as Engineers of Female Identity, 1922‐53.Pâl Kolstø, ed., Nation‐Building and EthnicIntegration in Post‐Soviet Societies: An Investigation of Latvia and Kazakstan.Michael H. Glantz, ed., Creeping Environmental Problems and Sustainable Development in the Aral Sea Basin.Lilia Shevtsova, Yeltsin's Russia: Myths and Realities.Stephen White, Russia's New Politics: The Management of aPostcommunist Society.Mikhail A. Alexseev, ed., Center‐Periphery Conflict in Post‐Soviet Russia: A Federation Imperiled.Judith Devlin, Slavophiles and Commissars: Enemies of Democracy in Modern Russia.