RUDN Journal of Economics

Editor-in-Chief: Vladimir M. Davydov, Corresponding member of Russian Academy of Sciences (RAS), Professor, Director of the Institute for Latin America of the RAS

Indexation: Russian Index of Science Citation, Google Scholar, Ulrich's Periodicals Directory, WorldCat, East View, Cyberleninka, Dimensions, DOAJ, EBSCOhost, ResearchBib,Lens, Microsoft Academic, Research4Life, JournalTOCs, British Library, Bodleian Libraries (University of Oxford), Ghent University Library

Open Access: Open Access. Founded in 1993. Publication frequency: quarterly.

Peer-Review: double blind. APC: no article processing charge.

ISSN: 2313-2329  (Print) ISSN: 2408-8986 (Online)

PUBLISHER: Peoples’ Friendship University of Russia (RUDN University)

Journal History

RUDN Journal of Economics is a general-interest economic journal, which publishes papers of theoretical, empirical and practical issues.

The goals of the journal are publication of papers of Russian and foreign authors on topical questions of national and world economic development, as well as building-up of academic economic society, increasing of scientific activity of senior and young researchers from Peoples' Friendship University of Russia (PFUR) and other higher institutions.

The journal aims to publish articles that will serve several goals: to provide economic analysis in the field of macro- and microeconomics and finance; to integrate lessons learned from different regions and countries experience in tackling socio-economic problems; to encourage cross-fertilization of ideas among the fields of economic thinking.

Main subject fields of the journal include:

  • questions of economic theory;
  • economic reforms in Russia and Commonwealth countries;
  • economic integration and globalization;
  • developed and developing countries economy;
  • monetary and financial questions;
  • industrial organization markets
  • questions of management and marketing;
  • interdisciplinary research;
  • methodology of teaching economic subjects;
  • economic reviews and applied research;
  • books’ reviews and oth.

Main audience of the journal – professional economists, high school teachers, post-graduate students, representatives of federal and municipal government bodies as well as business leaders.

RUDN Journal of Economics began publication in 1993; with quarterly issues appearing. 

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Current Issue

Vol 28, No 4 (2020)

REGIONAL ECONOMY
Evaluation of the influence of the machine environment factors on the strategic planning of development of recreational tourism of Сrimea
Bogomolova E.S.
Abstract

The main goal is to consider the main provisions of strategic planning for the development of recreational tourism in Crimea based on an assessment of the influence of macroenvironmental factors, which makes it possible to develop aggregated indicators for the medium term to increase the competitive position of the republic's recreational business, enhance the role of the market for recreational and health services, and improve the quality parameters of provided recreational services. The study examines the key positions of the STEEP-analysis of the external macroenvironment for the development of recreational tourism in Crimea, which have a high probability of implementation. The ratio of organized and amateur recreational tourism, which affects the level of occupancy of the room fund of collective accommodation facilities, changes in their profitability based on the indicators of the State Program for the Development of Resorts and Tourism of the Republic of Crimea in 2015-2022, has been estimated. As one of the approaches to strategic planning, the application of the quantitative method of scenario forecasting is considered, which made it possible to determine the dynamics of such forecast indicators as the potential volume of provided recreational services, the number of arrivals and accommodated tourists and recreants, the volume of income of recreational tourism taken out of the shadow turnover and calculate the increase in the volume of recreational services of the Republic of Crimea in the amount of 409.3 million rubles for the period 2020-2026.

RUDN Journal of Economics. 2020;28(4):647-660
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The banking system of India
Grigoriev V.N.
Abstract

The article is devoted to the banking system of India. The paper considers and analyzes the structure of the banking system, the history of its formation, its role in the country's economy, key features and main development trends. The specific features that distinguish the banking system of India from the banking systems of other countries are highlighted. The functions of different types of banks in servicing business and the population are considered. The role of the state in the functioning of the banking system is analyzed. The forecast of changes in the banking system in the light of the unfolding global economic crisis is given.

RUDN Journal of Economics. 2020;28(4):661-667
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Differentiation as a business competitiveness strategy in the brewery industry in Cameroon: an analysis of Les Brasseries du Cameroun Bamenda
Shille P.N., Enow P.
Abstract

This study examines differentiation as a business competitiveness strategy for improving business performance in the brewery industry the case of Les Brasseries Du Cameroun Bamenda. The case study design was employed using both qualitative and quantitative techniques to assess the hypothetical relationships stated. Questionnaire and interviews were used for data collection administered to a purposefully selected sample of 130 participants comprising of management staff at Les Brasseries Du Cameroun Bamenda as well as managers and staff at retail outlets/bars in Bamenda. Using Pearson’s correlation coefficient as analytical technique, results showed that there is a strong positive relationship between product differentiation, and business performance (PCC = .804**, p < 0.01), moderate positive relationship between service differentiation and business performance (PCC = .575**, p < 0.01), and a weak positive relationship between physical differentiation and business performance (PCC = .264**, p < 0.01). The study thus provides practical advice that management should continue to maintain and uphold product differentiation variable factors like quality and assortment while at the same step-up service differentiation activities.

RUDN Journal of Economics. 2020;28(4):668-680
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INNOVATIONS IN THE MODERN ECONOMY
World-class university in the era of digitalization
Pavlov P.V., Zashchitina E.K.
Abstract

The article examines the tendencies and prospects for the development of universities wishing to occupy leading positions in world and national rankings that appeared in connection with digitalization, which has the most noticeable impact in the field of education since 2020. In this regard, the most urgent is to consider the identification of the main factors by which universities are assessed by leading international and national ratings, evolutionary and meaningful models of creating a world-class university, vectors for the development of digital transformation in relation to higher education, as well as analysis of existing ones, internship at world-class universities in the field of digitalization. The presented results of the study allow to draw conclusions about the attitude of representatives of educational organizations (students and teachers) and the business community of a number of cities in Russia, Poland and Italy to the ongoing digital transformation of universities and the formation of new world-class universities.

RUDN Journal of Economics. 2020;28(4):681-699
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The fintech industry: key technologies and directions of development of the financial digitization
Romanov V.A., Khubulova V.V.
Abstract

Today, new technologies are reshaping the financial services industry, actively displacing traditional players and traditional business models. Integration of new financial solutions allows to change the structure of consumption, reduce the cost of certain functions, improve the efficiency and quality of business, as well as significantly affect the sustainability of the profile business, etc. As a result, the financial technology industry (or fintech) is gradually becoming an independent, rapidly developing sector of the modern economy. The article defines the scheme of integration of financial technologies, identifies groups of innovative technologies. To ensure the effective functioning of the fintech ecosystem, full access to human capital is necessary. It is indicated that the development of the fintech industry requires the introduction of a number of instruments of state regulation. It is revealed that the fintech ecosystem is considered effective when access to key types of capital is provided. The driving factors of the fintech market are identified. The study revealed that the Russian fintech industry is characterized by the concentration of technological competencies directly in the banking system, which explains why the segment of independent fintech projects is still poorly developed compared to other foreign markets. The key reason for this situation is the lack of interest of foreign and Russian investors in domestic startups, and traditional players have a strong resource base.

RUDN Journal of Economics. 2020;28(4):700-712
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Knowledge-based economy: an analytical review of the literature
Zhuparova A.S., Isatayeva G.B., Nussyupayeva A.A.
Abstract

Currently, the creation and development of high technologies are becoming an independent area of scientific knowledge and technological base for the transformation of the economy. However, in practice, there is a problem of shortfall in financial resources and status determination. The central idea of this article is to analyze the existing literature on research in the field of knowledge-based economics. The central idea of this article is to analyze the existing literature on research in the field of knowledge - based economy. In particular, we look at the existing literature related to the measurement of knowledge-based economy, with an indication of the most influential scientists, journals, and related publications. The document provides some answers to questions from leading journals with documents related to research in the field of knowledge-based economy, a number of articles with the highest number of citations, or a list of countries with the most research in the field of knowledge-based economy. This article has both academic and political value. From a scientific point of view, the study identifies scientists who have made the greatest contribution to research in the field of knowledge-based economy. For policy makers, this document is a report on existing practices and good practices.

RUDN Journal of Economics. 2020;28(4):713-727
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ECONOMIC GROWTH AND SOCIO-ECONOMIC DEVELOPMENT
International legal, economic and social consequences of the coronavirus pandemic in the world
Maslakova-Klauberg N.I.
Abstract

The article examines the consequences caused by the coronavirus pandemic in the world. It analyzes the negative impact of quarantine measures in different countries on the world economy, the financial system and the general international legal climate, including those aspects related to crossing international borders. The article presents the world Bank's forecasts regarding the level of economic downturn and business activity in various countries and regions of the world, as well as the prospects for the recovery of national economies in 2021. The article attempts to give a General and objective assessment of the legal innovations occurring during the pandemic, as well as the negative consequences of the pandemic in the political, economic, financial, social, legal and religious spheres. Special attention is paid to the regional aspect in the fight against coronavirus and the prospects for the formation of a new "post-human world".

RUDN Journal of Economics. 2020;28(4):728-736
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Analysis of the national health system of Cuba
Pupo Ochoa Y.
Abstract

This article discusses a set of issues relevant to the current state of the health care system of the Republic of Cuba. The purpose of the study is to give an idea of the dynamics of national health development and compare the results achieved in this sector from 2010 to 2018. The consideration of these problems begins with a description of the demographic context that reflects the general health status of the population. The basic structure of the health system, beneficiaries and benefits in the field of health, sources of financing and expenditures on health, available resources and user satisfaction with the services received were also taken into account. The paper also provides an assessment of the main problems that the Ministry of Health will have to solve in the short and medium term, which will entail the need to develop and implement new management strategies for health institutions. The study was based on a theory of analysis of the health sector adapted to the specifics of Cuban public health, providing guidance to the work of the Ministry of Health and health managers in order to achieve a higher level of satisfaction and quality.

RUDN Journal of Economics. 2020;28(4):737-750
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Implementation of the doctrine of food security in Russia: assessment and prospects
Tikhomirova V.A.
Abstract

The increasing politicization of international food trade, as well as the stagnation of the world economy due to the coronavirus epidemic, once again confirmed the relevance of Russia's self-sufficiency in food. The implementation of the Food Security Doctrine has made it possible to overcome the systemic problems of domestic agriculture and increase the sustainable production of basic crop products and aquatic biological resources. However, the situation in livestock farming is not so optimistic: stagnation in resource-intensive cattle production and dairy farming is accompanied by success in import substitution of poultry and pork meat. The revision of the doctrine in January 2020 shifted the focus from self-reliance on agricultural commodities to the production of a wide range of competitive high value-added foods. The article analyzes the dynamics of self-sufficiency in food in Russia, examines the current state of affairs in the main sectors of domestic agricultural production and the fishery complex, and offers promising areas of development.

RUDN Journal of Economics. 2020;28(4):751-764
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Micro-business in France: specificity, role in the national economy, system of state support
Komissarova Z.N.
Abstract
Micro-business functioning has a significant impact on the state of the economy and social sphere of any country. The French pattern is noteworthy because a country, that had been aiming at the development of large groups for a long time earlier, only in two decades managed to build a successful system of governmental support for micro-business that includes both specific and common measures for small and medium-sized enterprises (SMEs). The study attempts to identify current development trends of the micro-business in France and also to analyse the effectiveness of the state support system provided for the activities of the considered category of the economic entities. Depending on the nature of the subject matter, the author used such methods and approaches of scientific knowledge as induction and deduction, analysis and synthesis, system-structural, comparative and statistical analysis. The study analyses in detail the current development trends of the micro-business in France, including its sectorial and regional specifics, estimates the contribution of micro-enterprises to the economic and social development of the country and deeply examines the system of state support. Micro-enterprises take an important place in the French economy by providing one fifth of the employment in the country and the same share of value added. Meanwhile, micro-enterprises are quite weakly oriented towards export because their activities are targeted mainly at the local markets and concentrated in the services sector. Micro-enterprises contribute little to research and development (considering the percentage of total expenditure on research and development and the percentage of total employment in scientific research sector). However, micro-business remains an absolute leader in terms of research and development intensity by spending almost one third of its turnover on researches and considering the share of the direct financial assistance from the state in total expenditures on scientific researches. To date, a sufficiently effective system of public support to micro-business has been formed in France. Apart from providing financial assistance, the system includes substantial tax benefits and simplified taxation schemes, easy reporting system and simple procedures for filing tax return, facilitated social regime, simplification of major bureaucratic formalities and strong information support in all stages of functioning of an enterprise.
RUDN Journal of Economics. 2020;28(4):765-777
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Impact of labor migrants from Tajikistan on the economic security of the Russian Federation
Rakhmonov A.K., Manshin R.V.
Abstract
The article deals with the problems of the influence of migration flows from Tajikistan on the economic security of Russia, the contribution of Tajik labor migrants to the economy of the Russian Federation, the role of remittances and the consequences of Tajik labor migrants for the financial sector of the Russian Federation, as well as the reasons for the reorientation of Tajik labor migrants from Russia to other foreign countries. With the development of the economy, Russia has become a major migration center, a capacious labor market. With a low birth and a high mortality rates, Russia, like most European countries, needs a positive migration growth, an effective mechanism for attracting labor. As in other countries, the boundaries of migration capacity are determined by factors: trends and prospects for economic development, the situation on the labor market, and the availability of social infrastructure. The migration attractiveness of a country determines the level of migration flows to Russia. The Republic of Tajikistan is currently the second country after Uzbekistan that provides Russia with labor migrants. Tajik migrants have a big influence on the economy, financial sphere, as well as on other spheres of activity of the Russian Federation. Every year Tajik labor migrants make a big contribution to the Russian economy.
RUDN Journal of Economics. 2020;28(4):778-786
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INDUSTRIAL ORGANIZATION MARKETS
Structural features of life insurance markets in Russia and the West
Dmitriev A.S.
Abstract

The relevance of this research is due to the need to develop the financial sector of the domestic economy, which has become obvious in the context of the global economic crisis. This paper examines the structural features of life insurance markets in Russia and the West. The purpose of the study is to assess the state of the competitive environment in the markets under consideration and draw conclusions about the barriers to entry for new companies. The methodology of the work includes structural, statistical, system, logical, and other types of analysis, as well as the synthesis of the results obtained. Using the example of the Russian and Western life insurance markets, the role of geographical segments in shaping the overall market environment is evaluated. Based on the results of the research, the necessity of partial transplantation of the Western model of market environment formation based on monopolistic competition of market participants is justified.

RUDN Journal of Economics. 2020;28(4):787-796
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Modeling of optimization processes of investment activity of a professional sports organization
Matviyenka A.I.
Abstract

The article deals with modeling of investment regulation of professional sports organizations in the Republic of Belarus. The approaches of scientists and researchers to the issue under study are identified. To solve indicated problem, a model of investment regulation of a professional sports organization has been developed, which makes it possible to operatively and reasonably allocate investment resources based on simulation and iterative capabilities. The proposed economic and mathematical model makes in general economic indicators it possible to take into account the contribution of each segment of income to the joint results of operating activities and, as a result, promotes closer integration of the less than potential from them, which leads to a synergistic effect. The developed dynamic simulation model of investment regulation has been tested on the example of a professional sports organization, the results confirm the effective distribution of investment funds, due to which there is a positive economic effect in the form of total income growth.

RUDN Journal of Economics. 2020;28(4):797-806
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Prospects of the CSTO dual-use goods markets in the field of freight trucks
Chernikov S.Y., Akhmetova Z.B.
Abstract

The article deals with practical aspects of the implementation of cooperation between the CSTO countries in the production and supply of trucks as dual-use goods. The current macroeconomic situation of the countries participating in the agreement in terms of opportunities for self-production of these goods is considered. It shows the key brands and manufacturers that provide the markets of the CSTO countries with freight trucks, as well as the situation with production capabilities, and the current difficulties of finding a balance between efficiency, price and diversification in their fleet of civil and military vehicles. The research reveals a fairly stable position of Russian producers both on the national market and on the markets of the countries under consideration. At the same time, the study points out one of the key difficulties in the near-term prospects of the CSTO truck markets - the growing influence and dependence on China at both the macro and micro levels.

RUDN Journal of Economics. 2020;28(4):807-825
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INTERNATIONAL TRADE IN THE CONDITIONS OF GLOBALIZATION
Foreign trade relations between the Republic of Korea and the United States in the context of the development of integration processes
Andronova I.V., Dyuzheva N.V., Andronov K.A.
Abstract

The article examines the process of concluding, implementing and updating the Free Trade Agreement between the USA and South Korea, highlights the main problematic aspects of the functioning of the free trade area and the consequences for the bilateral trade of countries. The study found that South Korea benefited significantly from the negotiated liberal trade regime with the USA. The trade balance surplus of South Korea with the USA sharply increased - to a historic maximum of 25 billion dollars (in 2015), also South Korean exports of high-tech goods and high value-added goods increased significantly. For the USA, participation in the agreement led to an increase in the trade balance deficit and in the export of resources, agricultural goods and low value-added products. The observed consequences led to the use of a tough discriminatory policy by the USA, to the revision of the provisions of the Free trade agreement and to the military and political concessions from South Korea. As a result, the deficit of the US trade balance with South Korea decreased by 17.3% over the year, changes in the commodity structure of the countries' mutual trade are expected. The analysis proves the formation of a unified approach in US foreign trade policy towards partner countries within the framework of Free trade agreements, which lies in the mainstream of new protectionism and aimed at ensuring American geopolitical and economic interests.

RUDN Journal of Economics. 2020;28(4):826-841
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US foreign trade policy as a tool for protecting national interests
Fedyakina L.N., Tinkova A.A.
Abstract

National economic interests are changing in terms of high competition in the world economy, and its global player’s foreign trade policy direction is correlated with the protectionist sentiments of the United States. The purpose of the study is to identify and analyze the evolution, correlation and new trends in the mechanisms of US trade policy. As a result of the analysis of four mechanisms (international organizations, the official financing system, international integration, tariff and non-tariff regulation, as well as their variations in the form of trade wars and sanctions within the framework of a trade war instrument), authors describe the theoretical, evolutionary and practical aspects of protecting national interests and their impact on the world economy. The author’s opinion on the place and role of sanctions in the system of trade policy mechanisms is presented, the sanction’s economic aspect in the framework of trade wars is highlighted.

RUDN Journal of Economics. 2020;28(4):842-857
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Books’ reviews
Review of the monograph: Barai, M.K. (Ed.). (2020). Bangladesh’s Economic and Social Progress: From a Basket Case to a Development Model. London, Palgrave Macmillan (Springer Nature Singapore)
Iqbal B.A.
Abstract
The monograph under review is devoted to a multilateral analysis of the Bangladesh economy and the prospects for its development in the modern world. The book provides an in-depth analysis of the financial and industrial sectors of the economy, industrial policy, the prospects for an innovative economy in Bangladesh.
RUDN Journal of Economics. 2020;28(4):858-865
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