RUDN Journal of Economics
https://journals.rudn.ru/economics
<p><strong>Editor-in-Chief</strong>: Vladimir M. Davydov, Corresponding member of Russian Academy of Sciences (RAS), Professor, Director of the Institute for Latin America of the RAS</p> <p><strong>ISSN: </strong>2313-2329 (Print)<strong> ISSN: </strong>2408-8986 (Online)</p> <p><strong>Founded in</strong> 1993. <span class="tlid-translation translation" lang="en"><strong style="color: #000000;"><strong>Publication frequency</strong></strong>:</span> quarterly</p> <p><strong>PUBLISHER</strong>: <a href="http://eng.rudn.ru/" target="_blank" rel="noopener noreferrer">Peoples’ Friendship University of Russia named after Patrice Lumumba (RUDN University)</a></p> <p><strong>O</strong><strong style="color: #000000;">pen Access</strong>: <img src="/files/journals/1//OA.png" alt="" width="68" height="25">. <strong>APC</strong>: no article processing charge</p> <p><strong>Peer-Review</strong>: double blind. <strong>Publication language</strong>: Russian, English</p> <p><strong>Indexation</strong>: Russian Index of Science Citation, Google Scholar, Ulrich's Periodicals Directory, WorldCat, East View, Cyberleninka, Dimensions, DOAJ, ResearchBib, Lens, Research4Life, JournalTOCs, British Library, Bodleian Libraries (University of Oxford), Ghent University Library</p>Peoples’ Friendship University of Russia named after Patrice Lumumba (RUDN University)ru-RURUDN Journal of Economics2313-2329<h4 style="text-align: left;" align="center"><span style="display: inline !important; float: none; background-color: transparent; color: #101010; font-family: Arial; font-size: 14px; font-style: italic; font-variant: normal; font-weight: bold; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; -webkit-text-stroke-width: 0px; white-space: normal; word-spacing: 0px;">The right of authorship belongs to the authors of articles. The authors transfer the rights to use the article (including the use and distribution of an article in the Open Access) to the publisher of the journal on a non-exclusive license (Publishing Agreement (Public Offer)). At the same time, authors remain full rightsholders.</span></h4> <h3 align="center">Publishing Agreement (Public Offer) to Publish an Article in an Academic Periodical<br>'<strong>RUDN Journal of Economics</strong>'</h3> <p>The Federal State Autonomous Educational Institution of Higher Education "Peoples’ Friendship University of Russia named after Patrice Lumumba (RUDN University), represented by the Vice-Rector for Scientific Work Andrey Aleksandrovich Kostin, acting under a Power of Attorney No 0036-03/21-163 dated 12.10.2021, hereinafter referred to as the Publisher, on the one hand, hereby offers to the public at large, hereinafter referred to as the Author, on the other hand, hereinafter collectively referred to as the Parties, to enter into this agreement, hereinafter referred to as the Agreement, regarding publication of scholarly materials, hereinafter referred to as the Article, in the Journal named 'RUDN Journal of Economics', hereinafter referred to as the Journal, under the following terms.</p> <p><strong>1. General Terms and Conditions</strong></p> <blockquote> <p>1.1. Pursuant to Clause 2 of the Article 437 of the Russian Federation Civil Code, this Agreement shall be recognized as the public offer, hereinafter referred to as the Offer. Subject to Article 438 of the Russian Federation Civil Code, this Offer shall be deemed to have been completely and irrevocably accepted after the Author had submitted his/her materials by uploading those onto the network electronic system of the article acquisition for review available at the respective section of the Journal's site at URL: <span data-sheets-userformat="{"2":513,"3":{"1":0},"12":0}" data-sheets-value="{"1":2,"2":"http://journals.rudn.ru/index.php/economics/author/submit/1"}"><a class="in-cell-link" href="/index.php/economics/author/submit/1" target="_blank" rel="noopener noreferrer">http://journals.rudn.ru/index.php/economics/author/submit/1</a></span> on the Information and Communication Network known as the Internet, hereinafter referred to as the Internet.</p> <p>1.2. Pursuant to the Russian Federation effective law as applicable to compliance with the copyright to electronic information resources, no materials from any site, electronic journal or project may be reproduced, in whole or in part, in any form, either in a hard or soft copy, without a prior consent from the Journal's authors and editorial staff, which may be expressed by posting a respective consent (open license <a href="https://creativecommons.org/licenses/by-nc/4.0/" target="_blank" rel="noopener">Creative Commons Attribution International 4.0 CC BY-NC</a>) in the relevant section of the Journal's site on the Internet. <br>Whenever any published materials are used within the context of other documents, a reference to the original source needs to be specified.</p> <p>1.3. The Journal is registered by the Federal Oversight Service for Communications, Information Technologies and Mass Communications (RosKomNadzor).</p> </blockquote> <p><strong>2. Terms Used in This Agreement</strong></p> <blockquote> <p><strong>The Author</strong> is an individual (or individuals) whose creative labor has produced the Article.</p> <p><strong>The Offer Acceptance</strong> means a complete and irrevocable acceptance of the Offer under the terms specified in Clause 3 hereof (the Author accepts the Offer by submitting an application to the Publisher, i.e. by uploading the Article along with support materials onto the network electronic system of the article acquisition for review available at the respective section of the Journal's site at URL: <span data-sheets-userformat="{"2":513,"3":{"1":0},"12":0}" data-sheets-value="{"1":2,"2":"http://journals.rudn.ru/index.php/economics/author/submit/1"}"><a class="in-cell-link" href="/index.php/economics/author/submit/1" target="_blank" rel="noopener noreferrer">http://journals.rudn.ru/index.php/economics/author/submit/1</a></span> on the Internet).</p> <p><strong>The Journal</strong> means an academic periodical named 'RUDN Journal of Economics'.</p> <p><strong>The Application </strong>means an electronic request of the Author addressed to the Publisher for publishing the Article in the Journal by uploading the Article and support materials onto the network electronic system of the article acquisition for review available at the relevant section of the Journal's site at URL: <span data-sheets-userformat="{"2":513,"3":{"1":0},"12":0}" data-sheets-value="{"1":2,"2":"http://journals.rudn.ru/index.php/economics/author/submit/1"}"><a class="in-cell-link" href="/index.php/economics/author/submit/1" target="_blank" rel="noopener noreferrer">http://journals.rudn.ru/index.php/economics/author/submit/1</a></span> on the Internet).</p> <p><strong>The Publisher</strong> is the Federal State Autonomous Educational Institution of Higher Education "Peoples’ Friendship University of Russia named after Patrice Lumumba” (RUDN), being the Journal's founder and publisher.</p> <p><strong>The Article's Metadata </strong>means any materials in Russian and English intended to be included into the Science Citation database as per the original version of the Article such as the Article title; authors' details (full last name, first name, patronymic, present employer of each author with indication of the postal code, contact details (e-mail) of each author; abstract; keywords; topical classifications: UDC or any other bibliographic and library classification, and subject indices; bibliography (list of references).</p> <p><strong>The Offer</strong> means this document (offer to the Author) to publish an Article by uploading it onto the site at URL: <span data-sheets-userformat="{"2":513,"3":{"1":0},"12":0}" data-sheets-value="{"1":2,"2":"http://journals.rudn.ru/index.php/economics/author/submit/1"}"><a class="in-cell-link" href="/index.php/economics/author/submit/1" target="_blank" rel="noopener noreferrer">http://journals.rudn.ru/index.php/economics/author/submit/1</a></span> on the Internet.</p> <p><strong>The Publication </strong>means the act of publishing the Article in the Journal.</p> <p><strong>The Journal's Editorial Staff</strong> means a creative team engaged in preparing the Journal for publication.</p> <p><strong>The Editorial Board</strong> is an advisory body of the Journal's Editorial Office.</p> <p><strong>The Article</strong> means a result of fundamental and applied scholarly efforts in the form of a scholarly material, scientific review material, scientific message, bibliographical review on specific topics of the scholarly study, and background information on Russian and foreign scientists submitted by the Author for publication in the Journal.</p> <p><strong>The Parties </strong>mean the Author and the Publisher.</p> <p><strong>The Article Requirements </strong>mean requirements to the materials published in the Journal's section named "To Authors" of the Journal's site at URL: <span data-sheets-userformat="{"2":513,"3":{"1":0},"12":0}" data-sheets-value="{"1":2,"2":"http://journals.rudn.ru/index.php/economics/about/submissions#authorGuidelines"}"><a class="in-cell-link" href="/index.php/economics/about/submissions#authorGuidelines" target="_blank" rel="noopener noreferrer">http://journals.rudn.ru/index.php/economics/about/submissions#authorGuidelines</a></span> on the Internet.</p> <p><strong>The Service </strong>means publication of the Article in the Journal as per the Author's application.</p> </blockquote> <p><strong>3. Subject Matter of the Agreement (Offer)</strong></p> <blockquote> <p>3.1. Subject to this Agreement, the Author shall provide the Publisher at no expense for the copyright duration as stated by the Russian Federation legislation with <strong>a non-exclusive license</strong> for use of the Author-created Article for the purpose of its publication in the Journal.</p> <p>3.2. The rights to use this Article as assigned hereunder shall include but not limited to:</p> <ul> <li>reproduction of the Article or any part thereof, as well as its metadata in Russian and English in any material form whatsoever, including soft and hard copy forms, as an individual work product in periodicals and/or databases (whether local or web-based) owned by the Publisher and/or any other persons at the discretion of the Publisher;</li> <li>dissemination of the Article or any part thereof, as well as its metadata in Russian and English on any media as part of the Journal and/or databases owned by the Publisher or any other persons, at the discretion of the Publisher, or as an individual work product, worldwide via open access or by subscription without payment of any fee to the Author;</li> <li>making public the Article or any part thereof as well as its metadata in Russian and English so that any person could access the Article from any location and at any time of his/her choice (including via the Internet);</li> <li>issuing permissions to use the Article or any part thereof as well as its metadata in Russian and English to any third parties while notifying the Author by publishing the respective information on the Journal's site without payment of any fee to the Author;</li> <li>processing, including translation of the Article (including translation into foreign languages), and use of the processed (translated) Article in any manner specified above;</li> <li>any other rights, not expressly assigned to the Publisher hereunder, including patent rights to any processes, techniques or methods, and other means, described by the Author in the Article, as well as trademark rights, shall be retained by the Author.</li> </ul> <p>3.3. No territorial restrictions will be applied to the use of rights to the Article.</p> <p>3.4. This Agreement shall become effective from the time the Article is submitted to the Journal, i.e. uploaded along with support materials onto the network electronic system of the article acquisition for review available at the relevant section of the Journal's site at URL: <span data-sheets-userformat="{"2":513,"3":{"1":0},"12":0}" data-sheets-value="{"1":2,"2":"http://journals.rudn.ru/index.php/economics/author/submit/1"}"><a class="in-cell-link" href="/index.php/economics/author/submit/1" target="_blank" rel="noopener noreferrer">http://journals.rudn.ru/index.php/economics/author/submit/1</a></span> on the Internet, hereinafter referred to as the Article Upload.</p> <p>3.5. The rights shall be assigned by the Author to the Publisher at no expense, and the Article publication in the Journal shall not result in any financial contribution to the Author.</p> <p>3.6. If the Publisher decides to refuse to publish the Article in the Journal, this Agreement shall cease to be in force. A decision to refuse publication shall be sent to the Author via the e-mail address specified in the Application.</p> <p>3.7. The Publisher undertakes, throughout the currency of this Agreement, to provide to the Author the services associated with publication of the Article on the Journal's site at URL: <span data-sheets-userformat="{"2":513,"3":{"1":0},"12":0}" data-sheets-value="{"1":2,"2":"http://journals.rudn.ru/index.php/economics"}"><a class="in-cell-link" href="/index.php/economics" target="_blank" rel="noopener noreferrer">http://journals.rudn.ru/index.php/economics</a></span> on the Internet.</p> </blockquote> <p><strong>4. General Terms of the Services Provision</strong></p> <blockquote> <p>4.1. The Publisher shall provide the services to the Author only if:</p> <ul> <li>the Author submits all materials compliant with the Offer requirements by way of the Article Upload;</li> <li>the Author Accepts the Offer.</li> </ul> <p>4.2. The services shall be provided to the Author free of charge.</p> <p>4.3. If any materials submitted by the Author are found in breach of rules and requirements of this Offer, the Publisher shall have a right to refuse to publish those.</p> <p>4.4. The Publisher shall not be responsible for any third-party unauthorized use of the data provided by the Author during the currency of this Agreement.</p> </blockquote> <p><strong>5. Rights and Responsibilities of the Parties</strong></p> <blockquote> <p>5.1. The Author warrants that:</p> <ul> <li>he/she is the valid holder of exclusive rights to the Article; rights granted to the Publisher hereunder were not earlier assigned and will not be assigned to any third parties prior to publication of the Article by the Publisher in the Journal;</li> <li>the Article contains all the references to cited authors and/or sources (materials) that are required by the effective copyright law;</li> <li>the Author has obtained all required licenses to results, facts and other borrowed materials used in the Article where the Author is not a copyright holder;</li> <li>the Article does not contain any materials that may not be published in public sources in accordance with the effective Russian Federation statutory instruments, and the Article publication and dissemination will not involve any disclosure of classified (confidential) information, including state secrets;</li> <li>the Author has familiarized himself with the editorial policy and ethical principles published on the Journal website (<a href="/economics/about/editorialPolicies">http://journals.rudn.ru/economics/about/editorialPolicies</a>) and the consequences of violating these principles, has advised other Co-authors of the terms of this Agreement and has received consents from all the Co-authors to conclude this Agreement under the terms hereunder.</li> </ul> <p>5.2. The Author undertakes to:</p> <ul> <li>submit a manuscript of the Article as per the Requirements to articles;</li> <li>avoid using the soft copy of the Article produced by the Publisher for commercial purposes and in other periodicals;</li> <li>while preparing the Article for publication, the Author undertakes to: <ol type="a"> <li>make edits specified by readers and approved by the Journal's Editorial Office in the text of the Article and/or revise the Article following the Publisher's request, where necessary;</li> <li>proofread the Article within the timeframes specified in the Journal publication schedule;</li> <li>make only such edits in the proof that are minimally required to correct errors made in the Article original and/or introduce factual and momentary changes.</li> </ol> </li> </ul> <p>5.3. The Author is entitled to:</p> <ul> <li>pass to any third party a soft copy of the published Article provided by the Publisher pursuant to Clause 5.4 hereof for the Article to be incorporated, in whole or in part, into a scientific information database or repository in order to promote academic or scholarly investigations or for informational and educational purposes subject to the Author, Journal and Publisher being properly referenced.</li> </ul> <p>5.4. The Publisher undertakes to:</p> <ul> <li>publish the Author's Article, in soft or hard copy form, in the Journal in accordance with the terms hereof;</li> <li>provide the Author with the proof of the Article and make reasonable edits as requested by the Author, where required, following the Journal's Editorial resolution;</li> <li>provide the Author with the soft copy of the published Article by sending it to the Author's e-mail address within 15 business days of the Journal issue's publication;</li> <li>respect the Author's rights established by the effective law, protect those and use best endeavors to prevent any copyright infringements by third parties.</li> </ul> <p>5.5. The Publisher is entitled to:</p> <ul> <li>carry out technical and literary editing of the Article such that its basic content would remain unchanged;</li> <li>review the Article and suggest appropriate changes to the Author, and elect not to publish the Article if the Author fails to introduce such changes;</li> <li>require from the Author and/or other persons that the Journal, Publisher, Author and any other copyright holder, as well as the title of the Article, Journal issue identification and a year of publication as specified in the Journal be properly referenced whenever the Journal and/or the Article, including any individual part or fragment thereof, are used by any of the above-mentioned individuals thereafter;</li> <li>publish preliminary and/or advertising information on the forthcoming publication of the Article in mass media and any other information sources;</li> <li>establish rules (conditions) for acceptance and publication of materials in the Journal. The Journal's Editorial Board, headed by the Editor-in-Chief, shall enjoy an exclusive right to accept and/or reject any materials submitted to the Journal's Editorial Office for publication purposes. No manuscript (tangible medium) submitted by the Author to the Journal's Editorial Office will be subject to return. The Journal's Editorial Staff will not enter into any correspondence regarding the rejection of the Article by the Journal's Editorial Board;</li> <li>suspend provision of services to the Author hereunder temporarily for technical, technological and other reasons preventing the services from being provided for the duration of remedial activities;</li> <li>suspend services hereunder in accordance with civil procedures if: <ol> <li type="a">the Article does not correspond to the topics covered by the Journal or by any part thereof, or the submitted material is found insufficient for the individual publication, or the Article design is found at variance with the requirements imposed;</li> <li>the Author is in breach of any other obligations assumed under the Offer arrangement;</li> </ol> </li> <li>introduce changes to the Offer as per the procedure established by the Offer.</li> </ul> <p>5.6. Unless otherwise provided or stated herein, the Parties shall refer to the effective legislation of the Russian Federation.</p> </blockquote> <p><strong>6. Offer Acceptance and Conclusion of the Agreement. The Term of the Agreement</strong></p> <blockquote> <p>6.1. This Agreement shall become effective when concluded, i.e. when the Author Accepts the Offer by sending an application to the Publisher, that is, by uploading the Article (Article Upload), and remain in effect for five years.</p> <p>6.2. The Offer Acceptance constitutes an Agreement made in writing (Articles 438 and 1286.1 of the Russian Federation Civil Code) under the Offer terms.</p> <p>6.3. Unless any of the Parties sends to the other Party a written notification of the Agreement termination no later than two months prior to the end of the specified five-year period, the duration of the Publisher's copyright to the Work shall be automatically extended by the similar period. The number of extensions is not limited.</p> <p>6.4. The term of the Agreement may not exceed the duration of exclusive rights to the Article pursuant to the Russian Federation legislation.</p> <p>6.5. Whenever the Author assigns (disposes of) its exclusive rights to the Work to any third party, this Agreement shall remain in effect.</p> </blockquote> <p><strong>7. Agreement Modification and Termination Procedure</strong></p> <blockquote> <p>7.1. The Publisher shall have a right to unilaterally modify the terms of this Agreement by giving a prior notice to the Author, at least ten (10) calendar days before such modifications become effective, to the Author's e-mail address specified in the Author's application or via the Journal's site. These modifications shall become effective from the date specified in the respective notice.</p> <p>7.2. If the Author disagrees with any modification in the terms of this Agreement, the Author shall have a right to submit a written notice of his/her withdrawal from this Agreement by uploading it onto the network electronic system of the article acquisition for review, available at the relevant section of the Journal's site at URL:<span data-sheets-userformat="{"2":513,"3":{"1":0},"12":0}" data-sheets-value="{"1":2,"2":"http://journals.rudn.ru/index.php/economics/author/submit/1"}"><a class="in-cell-link" href="/index.php/economics/author/submit/1" target="_blank" rel="noopener noreferrer">http://journals.rudn.ru/index.php/economics/author/submit/1</a></span> on the Internet.</p> <p>7.3. This Agreement may be terminated early:</p> <ul> <li>at any time by mutual agreement of the Parties; or</li> <li>otherwise as stipulated herein.</li> </ul> <p>7.4. The Author shall have a right to cancel this Agreement unilaterally by sending the Publisher a respective notice in writing at least sixty (60) calendar days prior to the intended date of the Author's Article publication in the Journal.</p> <p>7.5. The termination of this Agreement for any reasons shall not release the Parties from responsibility for breach of any Agreement terms during the currency hereof.</p> </blockquote> <p><strong>8. Liability</strong></p> <blockquote> <p>8.1. A Party which has failed to perform its obligations under this Agreement, either in full or in part, shall be held liable pursuant to the Russian Federation legislation in force.</p> <p>8.2. All the data provided by the Author shall be trustworthy. The Author shall be responsible for completeness and reliability of the data provided to the Publisher. The use of untrustworthy information obtained from the Author shall not entail any responsibility upon the Publisher for any adverse effects resulting from its actions based on such untrustworthy information.</p> <p>8.3. The Author shall take full personal responsibility for compliance with the requirements of the Russian Federation law on advertising, protection of copyright and related rights, protection of trademarks and service marks, and protection of consumer rights. <br>8.4. The Publisher shall not be held responsible hereunder for:</p> <ol type="a"> <li>any actions resulting directly or indirectly from the actions of the Author;</li> <li>any loss incurred by the Author whether or not the Publisher was in a position to predict such loss.</li> </ol> <p>8.5. The Publisher shall be relieved from any responsibility for non-compliance with the terms of this Agreement if such non-compliance is a result of a force-majeure event such as an act of state authorities, including adoption of legal instruments, fire, flood, earthquake, other natural calamities, loss of power and/or computer network failure, strikes, civil commotions, riots, and any other similar events.</p> </blockquote> <p><strong>9. Dispute Resolution Procedure</strong></p> <blockquote> <p>9.1. Any disputes and disagreements shall be resolved by the Parties by negotiations, and if the Parties fail to reach an agreement, these shall be resolved in accordance with the effective law of the Russian Federation.</p> <p>9.2. If any disagreements remain unresolved, the Parties shall settle those at the location of the Publisher in accordance with the effective law of the Russian Federation.</p> </blockquote> <p><strong>10. Miscellaneous</strong></p> <blockquote> <p>10.1. Any notifications, messages, requests etc., excluding documents which need to be forwarded in original form pursuant to the Russian Federation legislation, shall be deemed to have been received by the Author, if delivered (sent) by the Publisher via the Journal's site, including by publishing those, by fax or e-mail specified in the Application, or using other communication facilities. The Parties acknowledge validity of notifications, messages, requests etc. delivered (sent) using the above-listed methods.</p> <p>10.2. Where the Publisher becomes subject to any claims related to non-compliance with an exclusive copyright or other intellectual property right of any third party during the writing of the Article or in connection with conclusion of this Agreement by the Author, the Author undertakes to:</p> <ul> <li>immediately upon receipt of a Publisher's notification, take measures to settle disputes with such third party, and, where necessary, join the litigation in favor of the Publisher and use its best endeavors to exclude the Publisher from the defendants;</li> <li>reimburse the legal cost, expenses and loss incurred by the Publisher as a result of application of a pre-award relief and measures for execution of a judgment, and damages paid by the Publisher to any third party for the infringement of exclusive copyright and/or other intellectual property rights, as well as other expenditures incurred by the Publisher as a result of infringement by the Author of any warranties provided hereunder.</li> </ul> <p>10.3. Subject to Article 6 of the Federal Law On Personal Data No. 152-FZ dated July 27, 2006, for the period from the conclusion of this Agreement and until the discharge of Parties obligations hereunder, the Author expresses his/her consent to processing of the following personal data by the Publisher: last name, first name, patronymic; taxpayers identification number (TIN); place and date of birth; citizenship details; ID document details; registration and actual location address; e-mail address; mailing address with postal code; contact phone numbers; fax numbers; and details of the employers.</p> <p>10.4. The Publisher is entitled to process the above personal data for the purpose of this Agreement performance, including for provision of information and reference services to the Author. The processing of personal data shall be understood to mean any handing (operations) with personal data, including collection, systematization, accumulation, storage, refinement (update, alteration), use, distribution (including transfer to third parties), depersonalization, blocking and deletion of personal data in accordance with the effective Russian Federation legislation.</p> <p>10.5. Where permitted by the Russian Federation legislation, the Author is entitled to withdraw his/her consent to processing of personal data as listed in Clause 10.3 by forwarding a respective notice to the Publisher. Upon receipt of such notice, the Publisher has a right to suspend services.</p> <p>10.6. The Author will, on a goodwill basis, submit his/her details (and details of each Co-Author subject to their prior consent) to the Journal's Editorial Office consisting of his/her: last name, first name, patronymic, academic rank, academic degree, job title, employer details (name and mailing address), work phone number and e-mail address for the purpose of its general publication in the Journal along with the Article.</p> </blockquote> <p><strong>11. </strong><strong>Registered Address and Particulars of the Publisher</strong></p> <p>Federal State Autonomous Educational Institution of Higher Education "Peoples’ Friendship University of Russia named after Patrice Lumumba (RUDN University)</p> <p>Address: Mikluho-Maklaya st., 6, Moscow, 117198</p> <p>TIN 7728073720, CRR 772801001, PSRN 1027739189323.</p> <p>Vice Rector for Scientific Work A.A. Kostin</p>Russian-Indian trade relations in the period of global economic transformation
https://journals.rudn.ru/economics/article/view/37302
<p style="text-align: justify;">Development of bilateral trade relations between countries in the period of deglobalization of world economy is a priority issue of the foreign economic policy of the state, aimed at ensuring its economic security. Particular attention should be paid to the study of trade and economic interrelations of the main actors of world economy, which are representatives of the new gravitational centers of economic activity. The interaction of such states, as a rule, is characterized by macro-regional effects that tend to reach the level of the global agenda. Undoubtedly, Russia’s foreign trade with India belongs to the above type of bilateral cooperation. The study shows the transformation of the countries’ economies over the past 10 years, characterized by the consistency of India’s economic growth and the turbulence of Russia’s economic policy, based on the need to adapt the economy as a result of systemic external pressure. The relationship of this retrospective with the cardinal trade changes in 2022 as a result of the geopolitical and energy crisis is determined. The author concludes that past events is an attempt to break the theoretical paradigm of trade and economic relations between countries that has existed in recent decades.</p>Roman V. Naumenko
Copyright (c) 2023 Naumenko R.V.
https://creativecommons.org/licenses/by-nc/4.0
2023-12-152023-12-1531463565410.22363/2313-2329-2023-31-4-635-654The system of sustainability factors of the fuel and energy complex of the regional economic system and improving the management of these factors in the regions of Russia
https://journals.rudn.ru/economics/article/view/37303
<p style="text-align: justify;">The study is devoted to the definition of a system of sustainability factors for the fuel and energy complex of the regional economic system, as well as the development of recommendations for improving the management of these factors in the regions of Russia. Based on the provisions of the Systemic Approach, econometric modeling and a comprehensive analysis of the influence of potential factors identified in the literature on the sustainability of the fuel and energy complex of modern regional economic systems around the world are carried out. The international experience of 120 countries in 2022 is projected onto Russia and compared with Russian regions. As a result, a system of factors has been formed, including the electrification factor, the clean energy availability factor and the carbon emission factor in cement production, which increases the predictability and manageability of the sustainable development of this system. The barriers to the sustainable development of the fuel and energy complex in the regions of modern Russia are identified, firstly, the incomplete availability of clean energy (90 %), which, however, is significantly higher than the average for the international sample (76.95 %). Secondly, a large amount of CO2 emissions from the combustion of fossil fuels and the production of cement (10.81 tCO2 per capita). The prospect for the period up to 2025 is disclosed and recommendations are proposed for improving the management of selected key factors for the sustainable development of the fuel and energy complex in the regions of Russia. The practical significance of the article is explained by the fact that the author’s recommendations proposed in it on improving the management of selected key factors will ensure</p>Ekaterina A. Zemlyacheva
Copyright (c) 2023 Zemlyacheva E.A.
https://creativecommons.org/licenses/by-nc/4.0
2023-12-152023-12-1531465566710.22363/2313-2329-2023-31-4-655-667Modernization of Mali’s investment policy in the context of improving the sustainable development strategy
https://journals.rudn.ru/economics/article/view/37304
<p style="text-align: justify;">Since 2012, the Republic of Mali has been facing numerous security challenges caused by the separatist uprising led by the National Movement for the Liberation of Azawad and many non-State armed groups. This led to a loss of control by the authorities in several areas where the provision of public services and the operation of development programs were disrupted. The base of the economy - the agricultural sector - suffered, on the one hand, due to physical destruction of infrastructure and delays in the construction of new facilities due to limited financial and implementation opportunities, and on the other - due to limited access of households to agricultural resources and modern irrigation methods, which hindered the development of agriculture, expansion of acreage. The devastating consequences also affected other areas of the country. As a result, there is still an urgent need for humanitarian assistance, especially in the northern part of the country, and food insecurity due to the conflict and dependence on weather conditions remains a serious problem. Thus, money transfer programs from major international donors are one of the main sources of functioning of the economy and society of Mali. However, such dependence, in the end, does not benefit the country much in the context of long-term and sustainable development. This is confirmed by the difficulties that have arisen in recent years in connection with the imposed international sanctions. On the other hand, the country has quite attractive investment potential, but foreign investments pursue in most cases purely private interests of investors, ignoring the issue of social responsibility of business and not contributing to the restoration of the social and environmental spheres of Mali. In this regard, the study is devoted to the problem of sustainable development of the country and the possibility of using investment policy tools to implement policy objectives in this area. To this end, the formation and state of Mali’s sustainable development policy is analyzed; the dynamics of the main indicators reflecting the aspects of sustainable development are assessed; the world experience of implementing the concept of “green” investments that had positive environmental and social effects is reviewed. Conclusions are drawn about the need to revise and modernize the policy of attracting investments into the economy of Mali, which will provide additional opportunities for comprehensive development and increasing the level of independence.</p>Mama Dembele
Copyright (c) 2023 Dembele M.
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2023-12-152023-12-1531466868610.22363/2313-2329-2023-31-4-668-686Tools for studying the digital development rates of economic systems at country and region level
https://journals.rudn.ru/economics/article/view/37305
<p style="text-align: justify;">National economy digitalization is a powerful economic growth engine and one of the key areas for developing and maintaining the competitiveness of the state. Digital economy potential lies in accelerating the pace of economic development of enterprises, industries, regions and countries, and in improving in living standards. Under the conditions of digitalization, a tool for assessing the pace of economic system development at the country, region, industry and enterprise level becomes a source of competitive advantages. Therefore, the relevance of the study is evident. The purpose of the study is to develop tools for studying digital development rates at country and region level. The database of the study was represented by the proceeding of well-known foreign and Russian scientists and statistical data on the main indices of the US and Chinese stock markets. The methodological base was represented by the ISPI (Information System Portfolio Investor) digital model. The effectiveness of the obtained results was verified using the PRM (Profitability-Risk model) tool. The result of the study was an analysis of digital development rates at the country level by the case of the United States and China. The analysis was based on the calculation of the main parameters of the portfolio theory: expected return, risk level, return-to-risk ratio. Scatterplots were constructed for the main US and Chinese stock market indices based on the fitted data. They show the mutual distribution of groups of main indices and allow to determine the most promising areas for investment, including digital development. The findings confirm the possibility of using the proposed tools to determine the most attractive sectors for investment in the world stock markets and countries, and/or countries and regions that need investment for their development, including digital one. The introduction of the proposed tools into practice at the enterprise, industry, region and country level will contribute to the further development of the digitalization in all aspects of society at the enterprise, industry, region and country level.</p>Nina M. BaranovaSergey N. LarinOlga Yu. Basharina
Copyright (c) 2023 Baranova N.M., Larin S.N., Basharina O.Y.
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2023-12-152023-12-1531468769910.22363/2313-2329-2023-31-4-687-699High technologies and artificial intelligence as driving factors in the evolution of the world financial and economic architecture
https://journals.rudn.ru/economics/article/view/37306
<p style="text-align: justify;">The current dynamics of the development of the world economy is gaining new momentum despite the high crisis dynamics, containing financial, economic, monetary and geopolitical parameters. The factors accelerating the transformation of the global financial and economic architecture (GFEA) are high technologies, including the digital economy and artificial intelligence. The purpose of the study is to study the dynamics of the development of high technologies and its contribution to the evolution of the global financial and economic system. To conduct this analysis, the work uses a wide range of different scientific methods and approaches - the methodology of system analysis, methods of historical, logical and comparative analysis. Technologies are analyzed according to seven groups of impact on the GFEA transformation process: blockchain technologies, 3D printing, the Internet of Things, mobile broadband, cloud computing, robotics, and artificial intelligence. Their economic contribution to the processes under study is given. The activities of the Singularity University are considered as an example of a transnational think tank engaged in scientific and applied synthesis of high technologies, analysis of their prospects and consequences of their influence on the life of society. Proceeding from this, the contours of the further development of the GFEA and the strategies of behavior in the new conditions are given.</p>Fedor A. Smirnov
Copyright (c) 2023 Smirnov F.A.
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2023-12-152023-12-1531470071110.22363/2313-2329-2023-31-4-700-711Using an Additive Component Model to forecast the number of mergers and acquisitions in China
https://journals.rudn.ru/economics/article/view/37307
<p style="text-align: justify;">Research is devoted to the topic of modeling and forecasting seasonal fluctuations in M&A transactions in China to assess the short-term outlook for the movement of this sector, as well as for future studies of M&A market conditions in the PRC. As a forecasting method the authors have chosen a model with an additive component that considers quarterly data on the number of M&A deals in the Celestial Empire for the past 15 quarters. The order of building a model with additive component is calculation of seasonal component values, deseasonalization of data, trend calculation and evaluation of forecast accuracy. Additive model allows smoothing seasonality by separating seasonal component from time series and separating it from trend and residual component. This action is performed by subtracting the seasonal component from the original time series. Thus, seasonality is removed from the time series, and only trend and residual component remain. After extraction of the seasonal component, it can be analyzed separately and used to predict future values of the time series. It is also possible to use smoothing methods, such as moving average or exponential smoothing, to smooth the seasonality and get a smoother trend. The authors also built trend models, namely linear, power, polynomial, exponential and logarithmic trend models and chose the polynomial model that provides the highest coefficient of determination. The resulting model has made it possible to forecast the number of transactions by quarter until the end of 2023, in the aftermath of which the possible reasons for the decline in the number of mergers and acquisitions in China are described.</p>Marina S. ReshetnikovaMaxim A. Pavlov
Copyright (c) 2023 Reshetnikova M.S., Pavlov M.A.
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2023-12-152023-12-1531471272210.22363/2313-2329-2023-31-4-712-722Chinese automotive market: Сurrent state and prospects
https://journals.rudn.ru/economics/article/view/37308
<p style="text-align: justify;">China occupies a significant position in the world market and is one of the countries that is developing rapidly and increasingly introducing new technologies into various sectors of the economy. Thus, one of the most important industries is the automotive industry, influencing the national economy and the global mechanical engineering market. In recent years, the Chinese economy has occupied a leading position in the world market in exports and imports of cars, production growth and sales of new cars. Even during the pandemic, where many countries faced an economic crisis, China was able to recover quickly. The investigation is devoted to the analysis of the dynamics of the main economic indicators of the automotive industry and its impact on the PRC economy. To identify the level of efficiency of this industry, statistical methods were used in the work, thanks to which leaders in sales and production of new cars were identified, as well as China’s place and share in the world market in terms of exports and imports. Using an analysis of literary sources, the trends that are observed in various countries and their interrelation were substantiated. Analysis carried out on goods of group 8703 “passenger cars and other motor vehicles intended primarily for the transport of people (other than motor vehicles of heading 8702), including utility vans and racing cars” on the domestic market of the People’s Republic of China from 2008 to 2022 year, showed economic activity and trends in various periods. The most important factors are highlighted that played at the macroeconomic and microeconomic level: economic, political and social factors. Econometric methods were used to forecast sales in the Chinese domestic market. The forecast is based on a logarithmic trend model, which has a high approximation accuracy, which was later used for a model with an additive component and a multiplicative model. For the predicted volume of vehicle sales, the accuracy of the forecast was assessed using error calculations, which showed that the deviation from the actual one, up or down, was 1.37 million vehicles.</p>Svetlana E. KiryukhinaEkaterina E. Mikheshkina
Copyright (c) 2023 Kiryukhina S.E., Mikheshkina E.E.
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2023-12-152023-12-1531472373910.22363/2313-2329-2023-31-4-723-739Comparative analysis of the carbon market and the carbon tax mechanisms efficiency to achieve the goals of the global carbon footprint reduction
https://journals.rudn.ru/economics/article/view/37309
<p style="text-align: justify;">The environmental agenda is decisive in the formation of the world economy at the present stage. The need for a green transition is rarely questioned by scientists. However, there remains a wide range of opinions about which instruments are the most effective in achieving the set goals of reducing the carbon footprint. The most popular mechanisms today are the carbon market and carbon tax mechanisms. Aim of the research was using modeling, literature analysis, and deduction methods to compare the similarities and differences between the basic principles of applying a carbon tax and a carbon market mechanism, the authors of the article identify the advantages and disadvantages of both approaches. The results of the research showed that the carbon market mechanism has obvious advantages such as flexibility, cross-industry and crossterritory coverage, and relative benefits for companies compared to a carbon tax mechanism. At the same time, the carbon tax mechanism has the obvious advantage of low management costs and wide coverage, but, on the other hand, these advantages are offset by potential inefficiencies and high “cost” for companies. The analysis of the policies of large countries with large carbon emissions over the past 2-3 years shows that they are more likely to introduce elements of the carbon market to reduce emissions. Based on the theoretical analysis of the main characteristics of the carbon market and carbon tax, as well as their advantages and disadvantages, the authors urge not to be limited to one of the options, but to use both mechanisms simultaneously. In particular, the carbon market should be the main mechanism when the goal is to create more incentives to actively reduce carbon emissions, while carbon tax policies can be an additional measure to incentivize or “punish” those enterprises that exceed emission standards, also, the carbon tax will help to involve those industries that, for various reasons, cannot be represented on the carbon market.</p>Elena B. ZavyalovaJiacheng Li
Copyright (c) 2023 Zavyalova E.B., Li J.
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2023-12-152023-12-1531474075910.22363/2313-2329-2023-31-4-740-759School education reform in India 2020: Economic prerequisites and purposes
https://journals.rudn.ru/economics/article/view/37310
<p style="text-align: justify;">In 2023, India surpassed China in terms of population, becoming the most populous country in the world. Many experts emphasize that India has a demographic dividend, which allows for high rates of economic growth. However, millions of young people enter India’s labor market each year, a significant portion of whom lack basic education and can only be engaged in low-skilled jobs. This situation affects the quality of life, working conditions, and overall socioeconomic situation in the country. The Government of N. Modi, along with other reforms relevant and timely for India, has developed a comprehensive transformation of basic and higher education in the country. The objective of the research is to identify the economic prerequisites, tasks, and methods for implementing the reform of the basic education system. It has been identified that despite the 2002 amendment to the Constitution and the Right to Education Act passed in 2006, many families do not send their children to school, and in other cases, some children do not complete their education. This is due to several reasons, including the remoteness of schools, difficulty in entrance and transfer exams, the need to help parents, among others. The new National Education Policy of 2020 aims to provide holistic early childhood and school education. The traditional structure of the education system has been changed: preschool education is now incorporated into the education system, allowing kindergarten graduates to transition smoothly into school. The traditional 10+2 model has been replaced with a 5+3+3+4 model. Regional languages are given special importance - education will be conducted in the mother tongue up to the fifth grade, and then students will also learn Hindi and English. Age-appropriate teaching methods are applied at each stage of education. In the final stage of schooling, students are given the freedom to choose disciplines based on their interests. Each stage of education aims to develop critical thinking, the ability to engage in discussions, and case analysis. Thus, the education system reform, if successfully implemented, aims to provide India’s economy with a higher quality workforce, regardless of whether the school graduate continues their education in college or enters the labor market after completing school.</p>Maryana A. Gubina
Copyright (c) 2023 Gubina M.A.
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2023-12-152023-12-1531476077810.22363/2313-2329-2023-31-4-760-778Development of Russian lubricants market under sanction pressure
https://journals.rudn.ru/economics/article/view/37311
<p style="text-align: justify;">The oil and gas sector is one of the key sectors in the structure of the economy of the Russian Federation, as well as petroleum products industry, and particularly oil lubricants and components for their production. According to official statistics, the share of exports of petroleum products in monetary terms was 29 % in 2021, and in some years the figure was more than 50 %. Because of global events in recent years, including the impact of the COVID-19 pandemic and the consequences of sanction pressure, significant changes have occurred in the global and Russian lubricants markets, which have led to the emergence of turbulence in the markets, and resulted in uncertainty about the further development. The main purpose of this study is to identify the main trends in the development of the lubricants market in Russia in 2023. Within the framework of the study, the concept of “oil lubricants” and the main technological features of their composition and production process are determined. The analysis of the main geopolitical events and changes that occurred in 2022 and their impact on the lubricants market was carried out. In particular, the influence of the latter on the market dynamics of the main raw material component to produce lubricants, as well as its cost both in retrospect and 2023 expectations (taking into account expected consumption volumes in the domestic and foreign markets) was studied. The study gives a brief description of the market segments, as well as analyzes the main brands that were present on the Russian market in 2022 and changes in their composition due to recent events in the industry. Based on the results of investigation, a comprehensive conclusion about the state of Russian lubricants market at the current time and the prospects for its development in 2023 was formulated.</p>Maxim V. ChernyaevArtem M. Kudryashov
Copyright (c) 2023 Chernyaev M.V., Kudryashov A.M.
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2023-12-152023-12-1531477979010.22363/2313-2329-2023-31-4-779-790Analysis of the chemical crop protection market in Russia
https://journals.rudn.ru/economics/article/view/37312
<p style="text-align: justify;">The research is devoted to the analysis of the current state of chemical crop protection market in Russia. Significant industry growth has occurred in last decade due to the attractiveness of agriculture as an export-oriented industry. Russian agricultural products are in stable demand all over the world. Countries in the Middle East, South-Eastern Asia and Africa with constantly growing population rely on foodstuff import, including from the Russian Federation. Thus, country makes a significant contribution in a global food security. However, in order to develop and increase competitiveness, Russian farmers need to intensify crop production. One of technological improvement elements, which let growers to get sufficient yield and quality, is application of innovative chemical crop protection products. Pesticides help farmers struggle with crop diseases, pests and weeds, as well as minimize adverse climate factors in some cases. Agrochemicals market in Russia is represented not only by foreign players, but by domestic manufacturers as well. Market share of these two groups in value terms of market players is approximately equal. However, it’s worth mentioning, that like in many other industries, this sector is heavily dependent on import inputs. Major part of components for local pesticide production are imported and key technological process is constrained as a type of mixing necessary inputs in proper way. Domestic business, together with Russian Government and, probably, in cooperation with some international players, needs to solve the problem of deepening the production cycle, look for stimulus for development of the entire production chain in the long-term perspective, including development of fundamental science in chemical crop protection industry. Learning and adapting foreign experience can be the first step in the process of structural change of the crop protection industry. Simultaneously, it is critical to maintain openness and desire to use best practices at pesticide market, without which the competitiveness of Russian agricultural production will be constrained and development of the entire industry will have a pace inferior to other countries.</p>Oleg N. ZhilkinMikhail Y. Grigoryev
Copyright (c) 2023 Zhilkin O.N., Grigoryev M.Y.
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2023-12-152023-12-1531479180110.22363/2313-2329-2023-31-4-791-801The current development of women’s education in China
https://journals.rudn.ru/economics/article/view/37313
<p style="text-align: justify;">Since the founding of the new China in 1949, the Chinese government has given priority to educating the female population. This is not only a necessary condition to end gender discrimination in education, but also because education has been proclaimed as the foundation of a harmonious and prosperous China, and the female population plays an important role in the social and economic development of the country. In the past decade alone, great strides have been made in education, overcoming historical obstacles to the education of girls and women. Enrolment rates at all levels of education have increased significantly. Girls are increasingly embracing the concept of lifelong learning, which allows them to improve their skills and compete on an equal footing with the opposite sex in many professions. However, there are still many issues to be resolved, working towards equal access to education among the adult population and in the least developed regions of the country, and ensuring equal opportunities for employment. An important task for the Chinese authorities remains to identify gaps in the existing education system and to improve the quality of education in order to ensure equality and comprehensive development of the population.</p>Maria A. Guleva
Copyright (c) 2023 Guleva M.A.
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2023-12-152023-12-1531480281310.22363/2313-2329-2023-31-4-802-813Knowledge-based economic development of Iran: Mitigating sanctions and enhancing national competitiveness
https://journals.rudn.ru/economics/article/view/37314
<p style="text-align: justify;">The knowledge economy is an economic system in which the production of goods and services is based principally on knowledge-intensive activities that contribute to advancement in technical and scientific innovation. A knowledge-based economy is a kind of economy without limitations. This study studies the prospects of Knowledge Economy in Iran. In recent years, the scope of innovative activity and the necessity of a knowledge economy in Iran has grown. However, this study shows that knowledge development alone is not efficient: it is useful only when knowledge is being generated and applied in a real business environment. Iran would probably benefit as well in the case the expertise of national academia and business community is used more intensively; otherwise, it would grow vulnerable if the foreign innovative technologies were only used. Under the current circumstances, Iran, dealing with ever-expanding sanctions, should be seeking opportunities to commercialize its domestic researches and developments.</p>Ismael RezaeinejadSergey N. LavrovAlexander G. Simonov
Copyright (c) 2023 Rezaeinejad I., Lavrov S.N., Simonov A.G.
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2023-12-152023-12-1531481482910.22363/2313-2329-2023-31-4-814-829Luxury tax perspectives: The evidence of the Republic of Belarus
https://journals.rudn.ru/economics/article/view/37315
<p style="text-align: justify;">The study is dedicated to the reasons for luxury tax implementation into the national taxation system. The purpose of the research is to study the emergence and experience of applying the luxury tax in various countries in order to determine the feasibility of introducing such a tax in the Republic of Belarus. Authors’ conclusions and findings have been presented against the background of the analysis of digitized texts on tax and bibliometric and scientometric analysis of the scientific field of taxation. As a testing ground for making our conclusions in terms of lessons learned from past historical experience and real economic background, the Republic of Belarus was chosen. Possible reasons for the introduction of such a tax were considered, as well as an analysis of the market for luxury goods in the Republic of Belarus and the demand for them was conducted. We have drawn some parallels between the Republic of Belarus and the Russian Federation to reach a reasonable conclusion. For this purpose, the Russian luxury goods market (premium car and real estate markets) was analyzed based on available statistics for the years 2020-2022. As the most politically controversial tax that can be not as efficient as income taxes and have unintended consequences, luxury tax was examined from the point of international experience and historical perspective. Examples of luxury goods throughout history and in real life together with historical references to the implementation of this tax were presented. The effectiveness of luxury tax and its impact that depends on a variety of factors (tax rate, types of goods and services being taxed, economic conditions, etc.) together with the modern concept of luxury tax with national specific was evaluated. Considering the situation in the Republic of Belarus, although during recent years there has been a budget deficit and there is a necessity to find new sources of state income, we didn’t find any reasons for the implementation of such a tax into the national taxation system. These types of taxes are mainly imposed in highly developed countries where people can afford “luxurious” goods and the variety of these goods is higher. In the case of the Republic of Belarus, there is a trend of decreasing the number of people whose purchasing power would allow them to buy luxury goods and the real disposable income of Belarusians has also declined, making it less likely that Belarusians will spend money on the consumption of luxury goods.</p>Yury Yu. KaraleuPolina I. Tishkovskaya
Copyright (c) 2023 Karaleu Y.Y., Tishkovskaya P.I.
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2023-12-152023-12-1531483084710.22363/2313-2329-2023-31-4-830-847