Vol 29, No 1 (2021)

REGIONAL ECONOMY
Analysis of the living conditions of the city of Sevastopol
Starostina V.V., Garmashova E.P.
Abstract

The housing and communal conditions of the city of Sevastopol are examining. The purpose is to determine the level of development of the housing and communal services of the city based on the study of housing conditions and the regulatory framework in this area. In particular, the analysis showed that there are positive trends in this industry, such as an increase in the total housing stock, major repairs in most of the apartment buildings, a decline in the proportion of emergency housing and an increase in the improvement of housing stock with water and gas pipelines, and heating. There is also a positive trend in the actual and planned indicators, which reflect the level of development of the housing and communal services of the city of Sevastopol. It was revealed that a fairly large number of the population needs to be provided with residential premises, but, on average, only 2% of the population of the city receive it annually.

RUDN Journal of Economics. 2021;29(1):7-20
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Problems and directions of electronic commerce development in the BRICS countries
Yampolskaya D.O., De Conti B.M., Morozov S.N.
Abstract

E-commerce issues and ways of digital cooperation between the BRICS countries are examined. The BRICS countries, excluding China, were not able to occupy the highest positions in the innovation ratings published by Western research organizations, but they have high development potential. The BRICS countries and their programs for development of the digital economy and trade are studied. The Russian Federation pays great attention to digital cooperation due to existing difficulties in geo-economic situation. The development of e-commerce is a key element in the digitalization of economy. This study examines the stages of development of the digital economy and current state of BRICS e-commerce, as well as highlights its problem areas. It overviews modern e-commerce tools, such as electronic payments, blockchain, chat bots, internet of things, voice assistants, drones, etc. Digital cooperation should be developed precisely in these areas. However, the fact that Russia lacks applied experience in the field of commercialization has become a significant problem. In this regard, the main purpose of the study is to identify areas and ways of digital cooperation for BRICS governments and individual companies.

RUDN Journal of Economics. 2021;29(1):21-38
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INNOVATIONS IN THE MODERN ECONOMY
Methodological provisions for assessing the digital maturity of economic systems
Deryzemlya V.E., Ter-Grigoryants A.A.
Abstract

Digital transformation is a way of doing business that uses information and digital technologies. Readiness of companies for internal and external changes related to digitalization is called digital maturity. The research is devoted to the dynamics of growth of digital maturity of organizations in the Russian Federation and current methods of its assessment. The concept of assessing the digital maturity of economic systems as a stage in the implementation of digital transformation of the economy is revealed. The main directions of digital transformation in the country are highlighted and characterized. The dynamics of the level of digitalization and innovation implementation in Russian business in 2018-2020 are evaluated. A comparative analysis of methods for assessing digital maturity is carried out. Based on the results of the study, the prospects for further research in the field of digital maturity assessment are identified, and the main directions and obstacles to the digital transformation of the economy are formulated.

RUDN Journal of Economics. 2021;29(1):39-55
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China’s innovation race: future leader or outsider?
Reshetnikova M.S.
Abstract

Today two main innovative determinants influence China’s position in the race to global leadership in artificial intelligence. The aim of the research was to assess Chinese innovative potential according to two criteria: artificial intelligence talents and hardware base. The analysis has provided a conclusive answer to the question about the prospects of China to achieve the position of a scientific and technological superpower. The presented data shows that global competition in artificial intelligence has toughened and there is a certain lag in the competence of Chinese talents and in the development of breakthrough microelectronic technologies. However, the dynamics of the Chinese artificial intelligence sector growth and the Big Government legal actions indicate that the changes may come very soon. Due to the growing uncertainty and technological confrontation between main innovative and technology competitors, the victory in the global race for China's artificial intelligence sector may not take place.

RUDN Journal of Economics. 2021;29(1):56-63
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From the corporate culture of national university to the global university: the case of the RUDN University
Glagoleva A.V., Zemskaya Y.N., Kuznetsova E.A.
Abstract

The relevance of the research is associated with the increasing competition in the global educational market, where Russian universities enter and pretend to the status of a global university due to the Project 5-100. Today an academic institution needs to form a brand in the actual international infosphere. This process based on many factors, one of which is the corporate culture (CC) of the university, and the study is concerned with the exploration of its features. The main characteristics of the concept of “global university” and the description of the features of the CC of the university are given. The results of the study of CC of the RUDN University, that were received in 2019 through a survey of teachers, staff and students of the university, are presented. In conclusion, the recommendations on how to transform the CC of a university so that it allows to form its brand in the global educational space are formulated. These recommendations will be useful to any university that works in Russia or enters the global education market.

RUDN Journal of Economics. 2021;29(1):64-75
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BRICS Network University potential as an educational platform for innovative cooperation
Chernikov S.Y.
Abstract

The prospects for increasing the share of training and coverage of educational cooperation in the field of innovation in the BRICS Network University - one of the most important modern forms of cooperation in the field of education at the international level - are studied. The concepts of network structure and network university are considered. The effects of network interaction and the principles of functioning of network universities are revealed, and an overview of the approach to classifying network structures by the target feature of formation is given. The purpose is to search for opportunities to set up an innovative orientation of the BRICS Network University educational process as the general innovative cooperation stimulation platform of the participating countries. For this purpose, the experience of participation of Russian universities in other network universities (CIS and SCO) was explored, and possible formats of cooperation between innovation teams and interested students in the BRICS countries were proposed to stimulate both traditional mobility of students, teachers and employees, and general innovation exchange through the BRICS Network University.

RUDN Journal of Economics. 2021;29(1):76-87
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Innovation and productivity: the case of Nordic countries
Balashova S.A., Abramova A.A.
Abstract

Denmark, Finland, Iceland, Norway, and Sweden form a group of the Nordic countries, considered welfare states and the global leaders in innovative development. The link between the growth rate of total factor productivity and innovative development, controlling such factors as trade openness and prices volatility in commodity markets, is examined. The econometric analysis results show that the relationship between the level of innovative development and the rate of productivity growth is more robust for the Nordic countries than for the EU countries on average. Features of the national innovation systems and financing of R&D in the Nordic countries and factors contributing to the impact of innovation activity on productivity are highlighted.

RUDN Journal of Economics. 2021;29(1):88-98
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ECONOMIC GROWTH AND SOCIO-ECONOMIC DEVELOPMENT
Methodological tools for managing intellectual resources: overcoming limited resource potential
Digilina O.B., Lebedeva D.V.
Abstract

Intellectual resources, in the form of human (labor) and information resources are increasingly important in an economic environment wherein firms’ limited resource potential impedes innovation. Their assessment, analysis, accounting and distribution are necessary for the effective implementation of innovation activities. However, Russia’s regions differ in the number of staff engaged in research and development and firm innovativeness. Furthermore, geography can present barriers to innovation that undermine firm competitiveness, which ultimately aggravates the socio-economic development of Russia. This problem can be solved by transforming the methodological tools used in the regional development strategy. Whilst each region is distinctive, the authors propose a methodology for assessing the minimum acceptable levels of available intellectual resources necessary for the implementation of an innovative project. This methodology considers activity at different project stages and can be scaled to any economic level and innovative project. The proposed method evaluates the minimum optimal distribution of intellectual resources necessary for the successful implementation of innovative activities, which are considered necessary for transforming the Russian economy and building resource potential. This methodology also allows to assess the sufficiency of available intellectual resources, create a system of metrics for their accounting and replenishment, and utilize intellectual resources across multiple innovative projects simultaneously.

RUDN Journal of Economics. 2021;29(1):99-113
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Methodological aspects of evaluating a company’s investment attractiveness
Nemtseva Y.V., Vorozhbickaya Y.V.
Abstract

The actual problems of choosing tools for risk assessment and predicted profitability (attractiveness) of an investment object are studied. There is a close relationship between the financial multipliers DIV/FCF, P/E Shiller, EV/EBITDA and risk indicators, which gives the investor the opportunity to make additional operational forecasts when analyzing an investment project. A number of key financial multipliers (P/S, EV/S, P/OCF, P/FCF) have been identified, and it is not entirely correct to use them as criteria for making an investment decision. The expediency of using the EV/EBITDA multiplier for making forecasts about the volatility of the return on shares of a certain company is justified, since this is the only indicator among the financial multipliers selected for analysis that has a relationship with the beta coefficient. Recommendations for forming a sample of necessary indicators (multipliers) when making investment decisions by various stakeholders are proposed.

RUDN Journal of Economics. 2021;29(1):114-125
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Food security in the GCC: specific characteristics and solutions
Kodzhakova Z.R.
Abstract

Food security is an issue of critical importance for GCC countries. The share of domestic agricultural production remains low, because water supplies and arable land are an extremely scarce resource in the region. These countries currently import most of what they consume and will continue to do so, since national food production is not a viable option. The study reveals the specific characteristics of the food problem of GCC countries and the ways to solve it, which can be used to ensure more optimal food imports. Special attention is paid to investment projects in the food sector of the GCC countries.

RUDN Journal of Economics. 2021;29(1):126-136
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INDUSTRIAL ORGANIZATION MARKETS
Optimization of diversification management production at the enterprises of the defense-industrial complex
Batkovskiy A.M., Kravchuk P.V., Khrustalev E.I.
Abstract

The currently used methods of optimizing the management of diversification activities are insufficiently theoretically substantiated. The available tools for this optimization do not allow quantitatively taking into account many factors affecting this process in today's difficult economic conditions, which gives rise to many problems. Among them, an important and still unsolved problem is a scientifically grounded quantitative assessment of risks for the implementation of diversification measures. It is especially relevant now for the enterprises of the military-industrial complex. The authors propose an approach to the study of the theoretical foundations of optimization of production diversification management as a form of systemic transformation of enterprises and a new toolkit for solving the problem under consideration based on the use of the expert assessment method and economic and mathematical modeling of risk analysis of diversification measures. Significance of the research is determined by the need to optimize the management of production diversification at the enterprises of the military-industrial complex.

RUDN Journal of Economics. 2021;29(1):137-149
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Pharmaceutical value chain: opportunities for outsourcing
Volgina N.A.
Abstract

Industry value chains take important place in the architecture of the global economy. In recent years, cross-border pharmaceutical value chains have been actively developing, the formation of which took place both through offshoring and outsourcing processes under the control of Big Pharma companies, which keep leading positions in the pharmaceutical markets. The study evaluates the possibilities of outsourcing, as well as identifies its features at various stages of the pharmaceutical chain. The multistage pharmaceutical chain, as well as its high degree of its modularity, have created favourable opportunities for outsourcing at every stage, from the “lower” stage of retail sales to the “upper” stage of R&D. This is so-called “bottom - up” outsourcing. An increase in costs and a decrease in the efficiency of the entire pharmaceutical chain, caused by the complication of the development and production of drugs, led to a crisis in pharmaceutical innovation. Outsourcing allowed to partially solve arisen problems, increase the productivity of the chain and distribute financial risks, which has led to the emergence of contract organizations that have taken over the implementation of certain pharmaceutical services (contract development and manufacturing, sales, packaging, research organizations). The pharmaceutical R&D market was one of the last to get involved in outsourcing processes, due to the fact, that Big Pharma, which manage outsourcing processes, on the one hand, strives to expand outsourcing in order to improve the efficiency of the pharmaceutical chain, and, on the other hand, are very wary of it, since they want to retain ownership and control over their key competencies, which in the case of outsourcing is not always possible.

RUDN Journal of Economics. 2021;29(1):150-163
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Gas industry - a factor of international competitiveness
Lavrov S.N., Simonov A.G.
Abstract

This is the first article of a series, devoted to a comprehensive problem of economic and geopolitical rivalry of the leading global powers in energy sector. It is dedicated to a number of topical issues of world economy and Russian economic environment. A systematic analysis of long-term world energy economy development trends is performed. For this purpose, a cause-and-effect relationship between international supply chains and energy procurement, on one hand, and revolutionary changes of international economic relations, caused by USA - China and Russia - USA, EU sanctions exchange, on the other, is derived. It is concluded that a developed gas industry is to play a decisive role in insuring global energy leadership of the major global powers on a mid- and long-term basis. A scenario analysis of further European gas market developments is provided. The external effects of developing gas industry are contemplated for Russian economic environment. In this framework most efficient options of action by Russian state are observed.

RUDN Journal of Economics. 2021;29(1):164-172
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Development of project management practice in hotels of Kazakhstan
Turginbayeva A.N., Zhakupbekova G.E.
Abstract

Project management is not only a tool for achieving business goals, but also a mechanism for strategic development of the company. This is due to the fact, that the achievement of strategic goals in any area is directly related to the effective implementation of individual projects. In the framework of the study, the development of project management practices in the hotel business is evaluated using the project management maturity model. It is revealed that the use of project management practices in Kazakhstan hotels lags behind hotels of international chains.

RUDN Journal of Economics. 2021;29(1):173-182
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INTERNATIONAL TRADE IN THE CONDITIONS OF GLOBALIZATION
Assessment of risks for the gas industry in Russia in the context of the formation of a common gas market of the Eurasian Economic Union
Tkachenko M.F., Allaiarova N.I.
Abstract

The research aimed to identifies the risks for the development of the gas industry in Russia in the context of the emerging common gas market of the EAEU. The state of the gas industry in Russia and Russia’s cooperation with the EAEU member states in the gas sector are considered. The development of the Russian gas industry is determined both by the dominant position of the vertically integrated natural monopoly PJSC “Gazprom”, and by the characteristics of the global hydrocarbon energy market. Based on empirical data, it is concluded that the creation of a common gas market in the EAEU is not only a challenge to the development of the Russian gas industry, but also a measure to strengthen and expand its positions in the global energy market, increase the efficiency of participation in the global energy agenda, as well as an incentive for improving the domestic gas market in Russia.

RUDN Journal of Economics. 2021;29(1):183-196
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Economic relations between China and Venezuela: modern characteristics and prospects
Koval A.G., Sorokin M.I.
Abstract

Venezuela suffers currently from a deep economic and political crisis. China, being significant partner for Venezuela, has recently increased its presence on the Venezuelan market. The study reveals the distinguishing features of modern Chinese-Venezuelan economic relations. It analyzes China's foreign economic strategy in Latin America and identifies the trends in trade, investment and finance relations between China and Venezuela. The conclusion is made that the Chinese strategy in Venezuela is not based on the concept of “South - South” cooperation, but it more relates to the “North - South” approach. At the same time, the political factor plays an increasingly significant role in the development of relationship between states from a perspective of escalation of the confrontation between the United States and China. The possible scenarios and consequences of the Venezuelan political crisis for China are identified and certain comparisons with Russia are presented.

RUDN Journal of Economics. 2021;29(1):197-209
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From the crisis-generating nature of global development to the transformation of the world financial and economic architecture
Smirnov F.A., Golovkov A.V.
Abstract

The modern dynamics of the global processes unfolding in the financial and economic sphere is currently experiencing a wide range of crises of different profiles (which forms the crisis-generating nature of global development), requiring the development of new approaches to overcome them. This determines the relevance of the description of a crisis dynamic, specific examples of its evolution and growth. The purpose of the study is to identify the main contours of the transformation of the world financial and economic architecture (WFEA) in such conditions. For this, the methodology of systems analysis, the dialectical method of scientific knowledge, methods of historical, logical and comparative analysis were used. As a result, it was concluded that the monetary methods used only make it possible to stop the spread of the crisis, but do not remove its root causes, since the crisis dynamics has a steady growing nature, which occurs with a parallel increase in emission volumes. The comparison of two world economic structures of the established imperial and new integral ones is carried out. The issue of the process of gradual renewal of the entire world system, WFEA, its reboot with elements of transformation, but in the general outlines of evolution, is considered. The revolutionary nature of development will be associated only with technological leaps, including due to the manifestation of the sixth wave of technological development, which will also adjust the transformation of the entire WFEA to itself.

RUDN Journal of Economics. 2021;29(1):210-222
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