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

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

Founded in 1993. Publication frequency: quarterly 

Open Access: Open Access. APC: no article processing charge

Peer-Review: double blind. Publication language: Russian, English

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

Journal History

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

 

RUDN Journal of Economics is an international peer-reviewed, open access journal for the field of economics and macroeconomics.  

The journal publishes regular original research papers and reviews.

Particular emphasis is placed on applied empirical and analytical work. The journal is open for innovative research approaches and methods.

The journal is included in the List of the Higher Attestation Commission in the specialties: 08.00.05 (Economics and Management of the national economy), 5.2.4 (Finance), 5.2.5 (World Economy).

In accornance with the order № 118, 24.02.21 

We focus on the current problems of the global economy.

The journal covers the following topics:

- Macroeconomics, economic theory and politics

- Economic development

- Growth and natural resources

- Labor market and migration

- Monetary and financial economics

- International trade

Our authors are known Russian scholars of economics who represent leading universities, as well as experts from foreign countries, including those from the top European, U.S. and Asian universities.

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Current Issue

Vol 30, No 1 (2022): TOWARDS SUSTAINABLE DEVELOPMENT. POST-COVID IMPERATIVES

EDITORIAL ARTICLE

Towards sustainable development. Post-Covid imperatives
Davydov V.M., Moseykin Y.N.
Abstract

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RUDN Journal of Economics. 2022;30(1):7-19
pages 7-19 views

WORLD CAPITAL MARKET

The specifics of the banking regulation and supervision model in Iraq and its transformation under the influence of the Basel requirements
Yunus Y.G.
Abstract

Today it is difficult to imagine modern life without banks. Banks play an important role not only in the lives of individuals, but also in general, in the global economy. The efficiency of the banking system is of great economic importance. Based on this the importance of the banking system applying the rules and decisions of the Basel Committee, can ensure that the banking system can avoid the risks that can lead to entering a crisis and serious intransigence is necessary. The Iraqi banking system must comply with the decisions of the Basel Committee, both internal and external. Therefore, this article examines the specifics of the model of banking regulation and supervision in Iraq and its transformation under the influence of the requirements.

RUDN Journal of Economics. 2022;30(1):20-32
pages 20-32 views
The government policy of Zambia on attracting foreign direct investment and its effectiveness
Andronova I.V., Haabazoka L., Kasonde A.M.
Abstract

Investment policy has always played one of the most important roles in the development of the national economy. Foreign direct investment is interconnected with the activities of multinational companies and the opportunities that can be obtained by the host country. The article reveals the investment policy of Zambia and the role played by the public sector in it. The identified competitive advantages prove that Zambia has significant investment potential even though the country does not have direct access to the sea. Significant reserves of mineral raw materials confirm the energy and resource security of the economy, which is the area for investment by both national and foreign companies. The authors pay attention to several important problems of socio-economic significance, which complicate the effective and full functioning of the economy. The authors found that there are not enough studies in the domestic and foreign literature on the investment potential of Zambia. The study of inward investment activity showed that free economic zones are the most effective tool for attracting FDI, while the extractive sector remains the most attractive in this area. A comparative analysis of the disadvantages and advantages of the Zambian economy, conducted by the authors, proves that the state has the necessary elements of investment attractiveness. However, it was noted that the arrival of investments in the country should also meet the socio-economic interests of the state.

RUDN Journal of Economics. 2022;30(1):33-44
pages 33-44 views

INDUSTRIAL ORGANIZATION MARKETS

National tourist rating of Russian regions: Typological diversity
Kondrateva S.V.
Abstract

In the context of increasing interest in the development of the tourist and recreational sphere of activity, the rating of Russian regions, which makes it possible to identify leaders and outsiders in the development of domestic and international inbound tourism, is one of the effective tools for strategic planning and management at the federal and regional levels of government, at the same time contributing to the formation of preferences of Russian citizens about the possibilities of leisure and recreation. The aim of the study is to identify typological groups of Russian regions and the main trends in the development of their tourist attractiveness based on the dynamics of the values of the National Tourist Rating for the period 2016-2020. The approach based on the dynamics of the values of the National Tourism Rating for the period 2016-2020 and their medians allows us to identify typological groups of the regions of the Russian Federation in terms of tourist attractiveness, oftourist potential and popularity among domestic and foreign tourists, as well as to determine the main trends in its development.The open data of the official website of the National Tourism Rating for the period 2016-2020 as well as scientific developments on the issues under study by Russian researchers are used. The analysis revealed five typological groups of Russian regions in terms of the level of tourist attractiveness: high (12.9%), increased (16.5%), medium (18.8%), insufficient (32.9%) and low (18.8%). In addition, three main trends in the development of regional tourist attractiveness have been identified. The impact of the COVID-19 pandemic on the tourist development of Russian regions is different. The part of the regions of the Russian Federation received benefits and strengthened their positions with varying degrees of growth in the National Tourism Rating (38.8%), a large share reduced their values (47%), the fifth part of the regions retained their positions in the ranking (21.2%). The material is of interest to researchers focusing on the tourist competitiveness and tourist attractiveness of Russia in general and in the regional context, to regional authorities, specialists as well as students of specialized institutions.

RUDN Journal of Economics. 2022;30(1):45-56
pages 45-56 views
Business models of big pharma in Russia: A pharmaceutical value chain perspective
Volgina N.A.
Abstract

Large pharmaceutical companies (commonly referred to as Big Pharma) determine transformation trends in the global and national pharmaceutical market, make the largest investments in R&D to create new original medicines, act as leaders in the processes of creating cross-border pharmaceutical value chains. In recent years, more and more Big Pharma companies penetrated the Russian pharmaceutical market. The purpose of this work is to identify the business models of Big Pharma companies in Russia from the point of view of their participation in a particular link of the pharmaceutical value chain, as well as to assess future trends. Based on the analysis of the collected information, we identify the following business models for Big Pharma companies: “export model” of supplying market; “model of transferring R&D links”; “production localization model” at owned enterprises; “model of contract manufacturing”; “model of participation in the links of wholesale distribution and retail”. Foreign companies in Russian pharmaceutical market can use several models, and the more models are used, the deeper the company is integrated into the pharmaceutical chain. Such companies as Sanofi, Abbott, AstraZeneca, and Takeda are engaged in their own localized production and contract manufacturing, and they also exporting produced medicine abroad. So, they are the ones that are mostly involved in the pharmaceutical value chain in the Russian market. The transformation of business models of foreign pharmaceutical companies will be influenced by two interrelated factors: foreign strategy and geographic priorities of Big Pharma and the role of Russia in this strategy, which in turn is determined by the specifics of the Russian pharmaceutical market (compared to other countries).

RUDN Journal of Economics. 2022;30(1):57-69
pages 57-69 views

Economic integration and globalization

Trade strategy of European Union and the impact of EU-South Korea FTA
Woosik Y., Han-Sol L.
Abstract

When the global financial erupted, European Union (EU) had suffered from unprecedented economic downturn. Unemployment soared and consumption declined, causing negative effects on Europe’s per capita income growth. EU then started to realize the need for the utilization of Free Trade Agreements (FTAs), to alleviate the low growth trend of European economy. As the first initiative of EU Global Strategy, which was intended to significantly expand EU’s export markets to offshore countries through FTAs, South Korea was selected as one of the first targets. After eight rounds of FTA negotiations started from 2006, FTA between EU and South Korea came into effect in 2011. Using UN Comtrade’s export and import data from 2000 to 2017, this paper discusses about changes in trade patterns of EU and South Korea before and after the EU-South Korea FTA, and empirically analyzes the impact of EU-South Korea FTA. The results of our regression models show that the FTA indeed has positive effects on growth of both trade volume and trade share in the world, between South Korea and the EU, with significance. The fact that there were increases not only in commodity trade, but also in service goods trade and foreign direct investment suggests that the virtuous cycle of EU-South Korea FTA can expand to related areas. Furthermore, as South Korea is East Asia’s FTA-centered country which signed FTAs with both US and China, the two largest economies in the world, the indirect benefits from the EU-South Korea FTA will become greater for the EU. This advantage is expected to help creating a virtuous cycle that induces economic growth of EU through increases in trade, productivity, and job creation.

RUDN Journal of Economics. 2022;30(1):70-78
pages 70-78 views
Problems and prospects of the functioning of the public procurement market within the EAEU
Yelikbayev K.N.
Abstract

Currently, the issues of assessing the effectiveness of work to ensure access to the markets of state (municipal) procurement of the countries of the Eurasian Economic Union (EAEU) and the existing obstacles in this market are acquiring particular relevance. In this connection, the article analyzes the current state and prospects for the formation of this market, identifies and discloses the main obstacles to its functioning, such as non-provision of the national regime, the introduction of repeated exemptions from the national regime, non-recognition of electronic digital signatures and others, as well as recommendations for improving his work.

RUDN Journal of Economics. 2022;30(1):79-92
pages 79-92 views

Developed and developing countries economy

Territorial differentiation of the socio-economic development of Republic of India
Ivanova M.B., Glukhov Y.A.
Abstract

India is one of the countries in the world that shows dynamic growth in the development of all spheres of social and economic life of the population. At the same time, it is characterized by colossal differences in the level and quality of life of citizens. The work reveals territorial disparities in the level of social and economic development of the state. A comprehensive typology of the states and union territories of India was created, based on the economic and social statistics of the National Institute for Transformation of India. Economic development was considered in the context of a macroeconomic approach and is associated with the study of the gross regional product by administrative units of the state according to indicators of three sectors of the economy: primary, secondary, and tertiary. We analyzed social development in the context of five categories of indicators for the states and union territories of India: education, demography, poverty, infrastructure, and public finance. Principal component analysis was taken as the key analysis method. For each block, dozens of actual indicators were used in the structure of economic and social analysis. During analysis of variance and analysis of eigenvectors within the framework of the principal component method, latent indicators were determined that determine the level of development of each sector of the economy and the level of development of each category of social indicators. The factors of spatial development, which determine the territorial differentiation of the socio-economic life of the population by states and union territories of India, are highlighted. The functioning and development trends of the administrative-territorial units of India are assessed. Five states and union territories were ranked as the lowest, eight as low, eleven as medium, and six as high socio-economic development. The state with the highest level of socio-economic development was Maharashtra. It is the only administrative unit in India that has taken a leading position in the typology for many separate blocks of economic and social development. Against the background of an increase in economic growth and social indicators, a large gap remains in the country between wealthy and poor citizens, which complicates more effective socio-economic development of both individual regions of the country and India as a whole. This aspect should become a priority in the development of India.

RUDN Journal of Economics. 2022;30(1):93-109
pages 93-109 views

ECONOMIC AND SOCIAL TRENDS: DIGITALIZATION

Conceptual and methodological foundations for forming human capital under conditions of transition to digital agriculture
Shelkovnikov S.A., Kuznetsova I.G.
Abstract

The agro-industrial complex is a business sector on the successful activity of which depends not only on the food security of the state, but also the health of the population living on its territory. Currently, the agricultural industry is moving from a traditional method of production to digital. This confirms the use of digital devices, unmanned aerial vehicles, smart greenhouses, and robots. Among other things, the digitization process significantly changes the time for making management decisions. One of the important components of the transition to digitalization is the use of human capital. It is no secret that the process of digitalization in the production process requires considerable knowledge and skills, and therefore the task for agricultural education is to train specialists for digital agriculture. The article presents the demarcation of conceptual approaches to the formation of human capital in the context of traditional production and in a transitive economy. The aim of the study is to develop the basic principles, tasks, directions, tools and expected results of the formation and development of human capital in the transition to digital agriculture.

RUDN Journal of Economics. 2022;30(1):110-123
pages 110-123 views

INTERNATIONAL TRADE

Foreign economic relations between Russia and Egypt in the agricultural sphere: Problems and prospects of development[54]
Al-Hamati M.A.
Abstract

Nowadays Russia is actively developing economic cooperation with the African continent states. The article presents an analysis of trade and economic relations between Russia and Egypt. The Arab Republic of Egypt is a strategic partner of Russia in mutual trade in agricultural products and food in North Africa and the Middle East. The country is a major food importer and is a promising market for increasing the supply of agricultural products from Russia. The authors analyze: the dynamics of trade turnover in food products and agricultural raw materials between two countries; the commodity structure of exports and imports; Egypt’s place in Russian exports and imports of agricultural raw materials and food. The importance of the markets of the analyzed countries for mutual supplies is under authors’ consideration. The possibilities of development are analyzed and the problems and prospects of expanding investment cooperation between these countries in the field of agriculture are identified. The significance of the opening of the Russian Industrial Zone in Egypt for deepening trade and investment ties in the agro-industrial business is proved.

RUDN Journal of Economics. 2022;30(1):124-132
pages 124-132 views

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