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 PUBLISHER: Peoples’ Friendship University of Russia named after Patrice Lumumba (RUDN University) Open Access: . APC: no article processing charge Peer-Review: double blind. Publication language: Russian, English Indexation: White List, Russian Index of Science Citation, Google Scholar, Ulrich's Periodicals Directory, WorldCat, Cyberleninka, Dimensions, DOAJ, ResearchBib, Lens, Research4Life, JournalTOCs, British Library, Bodleian Libraries (University of Oxford), Ghent University Library
Peoples’ Friendship University of Russia named after Patrice Lumumba (RUDN University)
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Publishing Agreement (Public Offer) to Publish an Article in an Academic Periodical 'RUDN Journal of Economics' 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. 1. General Terms and Conditions 1.1. 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The Term of the Agreement 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. 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. 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. 6.4. The term of the Agreement may not exceed the duration of exclusive rights to the Article pursuant to the Russian Federation legislation. 6.5. 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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. 10.2. 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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. 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. 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. 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. 11. Registered Address and Particulars of the Publisher Federal State Autonomous Educational Institution of Higher Education "Peoples’ Friendship University of Russia named after Patrice Lumumba (RUDN University) Address: Mikluho-Maklaya st., 6, Moscow, 117198 TIN 7728073720, CRR 772801001, PSRN 1027739189323. Vice Rector for Scientific Work A.A. Kostin
Digital globalization: global trends, impact on growth and internationalization of national economies
The acceleration of transnational trade in goods and services, the growth of international crypto-assets, the creation of international networks of knowledge and social communication indicates the beginning of a new stage of globalization - digital globalization. The actuality of this study is determined by the need for a comprehensive analysis of digital globalization as an objective process of development of international economic relations in the era of digitalization. The purpose of the article is to analyse global tendencies and new economic business processes that have emerged in international economic relations due to digital technologies that have enabled the transnationalization of national economic activities. During the analysis of the considered aspects the methodology of the globalization theory, the theory of comparative advantages, rating methodologies, economic growth models were applied. As a result of the analysis, conclusions about the essence and significance of the new era of economic development - digital globalization - are drawn and its impact on national economies is shown, answers to a number of relevant questions concerning the inclusion of business in international economic relations in the new circumstances are given, as the inclusion in digital globalization becomes a necessary factor of competitiveness of both separate enterprises and industries, and national economies as a whole. It has been demonstrated how digital globalization will further transnationalize production and logistics operations, increase the efficiency of the labour market, and promote cross-border e-commerce, thus having a direct impact on economic growth.
Copyright (c) 2025 Goloventchik G.G., Kovalev M.M. https://creativecommons.org/licenses/by-nc/4.0
The digital shadow and twin feasibility representation model for the radically new products competitiveness
The study examines the use of multidimensional scenario modeling (MSM) for the development and production of fundamentally new products, taking into account the variability of consumer requirements and market conditions. The focus is on the integration of end-to-end digital technologies, an approach to creating a dual digital product, and product lifecycle management based on IT systems. The purpose of the research is to develop a new methodology for the formation of the technical and economic appearance of a product based on end-to-end digital technologies and digital twins, which makes it possible to model life cycle scenarios and choose optimal solutions with minimal costs. The study uses methods of literature analysis, benchmarking and comparative evaluation of statistical data to study the competitiveness of radically new products using the concepts of digital twin and digital shadow. Special attention is paid to the analysis of the regulatory framework and classes of digital twin models, which makes it possible to assess the technological feasibility, market potential and cost-effectiveness of innovative solutions. An integrated approach provides a systematization of the factors influencing the positioning of new products in the context of digital transformation. The features, including economic ones, of digital product models, as well as the regulatory framework of the subject area are considered. The classification of types of models and types of digital analogues of the product is given. The problem of the research lies in the fact that the traditional parametric approach to determining the technical and economic characteristics of new products, based on the linear improvement of analogues, is outdated in the context of digitalization and does not provide the creation of radically innovative solutions. The authors analyze the advantages of how the use of MSM contributes to the optimal choice of materials, technologies and components, as well as how it helps to achieve a balance between cost, quality and functionality of products. Special attention is paid to the possibilities of preliminary testing and adaptation of the product being developed in accordance with the changing requirements and preferences of consumers in order to increase competitive advantages. The results of the research are the concept of designing radically new products initiated either by the customer or by the manufacturer seeking to strengthen competitive positions; the concept of the technical and economic appearance of the product, formed on the basis of market analysis and including functional, component and economic models; the approach of using digital twins, allowing to optimize the product lifecycle through multivariate modeling, reducing costs and speeding up development; the key factors of the competitiveness of such a product have also been identified, which are determined by the integration of the image and the digital twin, taking into account global trends and customer requirements. The economic effects of using digital product models at different stages of the life cycle are described. A product competitiveness model is proposed that takes into account the level of digital maturity and the intensity of use of digital representations. A functional efficiency model is proposed that takes into account the effect of digital product modeling and its impact on economic efficiency. The study offers an economic and mathematical toolkit for calculating the competitiveness of radically new products through the integration of DTP and multivariate analysis, which expands the theory of innovation management in the digital economy.
Copyright (c) 2025 Shiboldenkov V.A., Nazyuta S.V., Chursin A.A. https://creativecommons.org/licenses/by-nc/4.0
Upcoming contours of the banking sector in the context of the digital evolution of the financial market
The study raises the problem of changing landscape of the banking sector in view of upgraded ways of interaction between financial intermediaries and their clients and financial product engineering in the digital era. The relevance is determined by the weakening positions of traditional banks and the need to develop a competitive strategy. The research is aimed to identify a list of main directions of the banking sector adaptation to digital realities. With the help of theoretical systematization method the authors reveal that through digitalization of a banking client customer journey that eliminates physical barriers of money transfer between market participants and through the modification of the banking product profile (including product bundling approach) digital technologies make price, product and sales of distribution competition tougher. Rivalry is also fostered by new market entrants whose organizational and legal status may range from a traditional bank’s digital satellite (with a shared banking license but on a separate brand) to a IT company’s fintech project in partnership with a bank. As a consequence, traditional banks face diminishing operations margins and returns on capital. In order to maintain financial soundness banks should follow the best practices of new entrants’ business model organization, including omnichannel approach, maximum monetization of the bank’s infrastructure, banking services technologization, cross-industry partnerships for “package” sale of products.
Copyright (c) 2025 Turuev I.B., Shashkina E.O. https://creativecommons.org/licenses/by-nc/4.0
The impact of the digital economy on the structure of industrial agglomerations: data from 31 administrative regions of China
The problems of industrial agglomerations have been widely studied due to its important role in regional economic development. However, in the era of digital economy, due to its characteristic of ignoring geographical and spatial limitations, this phenomenon fundamentally challenges the traditional industrial agglomeration model. The relevance of this study is determined by the lack of research on the impact of the digital economy on the agglomeration of traditional manufacturing industries, especially in terms of regional heterogeneity and mechanism. Based on panel data of 31 provincial administrative regions in China from 2012 to 2022, this study uses an empirical model to analyze the impact of the digital economy on the level of industrial agglomeration in various provinces in China and deeply explores its mechanism and regional heterogeneity. The research results show that the development of the digital economy has significantly inhibited the agglomeration of traditional industries. Further, this inhibitory effect is weakened in regions with higher levels of economic development. As a key interaction term, the per capita GDP level directly affects the impact of the digital economy on industrial agglomeration. Further mechanism test results confirm that the digital economy can jointly affect industrial agglomeration through direct and indirect paths. As a key mediating variable, the digital economy can weaken industrial agglomeration through the “deindustrialization” path.
Copyright (c) 2025 Jin B., Voskerichyan R.O. https://creativecommons.org/licenses/by-nc/4.0
E-commerce has become a key factor in the development of international trade, significantly simplifying and accelerating the exchange of goods and services. This study is devoted to the assessment of legal mechanisms for regulating this sphere, analyzing the current state of e-commerce in the European Union (EU). The aim of the study is to identify the main factors and trends that determine the further development of e-commerce in the EU. To achieve this goal the following tasks are formed: to analyze the main legal acts regulating e-commerce in the EU, to assess the current state of e-commerce in the EU, to identify problems on the way of e-commerce development in the EU. The research methodology consists of a combination of such methods as analysis of EU regulations, review of scientific literature and statistical data, as well as comparative analysis of approaches to e-commerce regulation in different jurisdictions. The results of the study showed that the EU is actively developing a comprehensive legal framework for regulating e-commerce. These regulations are aimed at harmonizing the legal space, protecting consumer rights, regulating the activities of large online platforms and ensuring the security of the digital environment. Statistical data indicate the dynamic growth of e-commerce in the EU. However, challenges remain related to market fragmentation, cybersecurity, logistical difficulties, and competition from large international companies and platforms. Taking into account the current level of e-commerce development in the EU and certain problems, the factors and trends of e-commerce development in the EU were highlighted. The scientific significance of the study lies in a comprehensive review of the existing EU experience in regulating e-commerce, an analysis of current trends and prospects for the development of this area. The results of the work can be useful for policy makers in the field of digital economy, participants in the process of forming multilateral agreements, as well as for business representatives interested in expanding into the European e-commerce market.
Copyright (c) 2025 Vremya E.G. https://creativecommons.org/licenses/by-nc/4.0
Reducing the carbon intensity of China’s economy: the role of climate policy and carbon markets
Since the early 2000s accelerated industrialization, urban population growth, and increased energy consumption have led the People’s Republic of China (PRC) to become the world’s largest source of greenhouse gas (GHG) emissions, which continue to rise. This has created a necessity for transitioning to a low-carbon economic development model, especially under international pressure and the country’s ambitious goal of achieving carbon neutrality by 2060. A distinctive feature of China’s current climate policy is its focus not on absolute emission reductions, but rather on reducing emissions per unit of gross domestic product (GDP), i.e., lowering the carbon intensity of the economy. The aim of this study is to analyze the evolution of China’s climate policy and assess the effectiveness of market-based GHG emission regulation tools, such as emissions trading systems and carbon credit mechanisms, in the context of reducing the economy’s carbon intensity. The research is based on an analysis of government documents, data on carbon market functioning, and scientific literature. Comparative analysis and statistical modeling were employed to evaluate emission dynamics and the effectiveness of climate policy instruments. The analysis shows that in recent years there has been a decline in the ambition of climate policy; however, carbon markets demonstrate positive results, although they face several challenges and limitations: insufficient data transparency, low allowances prices and liquidity, potential carbon leakage, and a shortage of carbon credits. The concluding part of the study emphasizes that the reduction in carbon intensity may be related not only to state efforts, but also to the Kuznets curve, according to which GHG emissions begin to decline after reaching a certain level of economic development. To achieve the long-term goal of carbon neutrality in the PRC, further improvement of climate policy is necessary, including replacing targets for reducing emission intensity with limits on absolute emission volumes, as well as strengthening control within ETSs and carbon crediting mechanisms.
Copyright (c) 2025 Gryaznova V.A. https://creativecommons.org/licenses/by-nc/4.0
Activities of the largest marketplaces in Russia and China: theory and practice
The development of technology and the introduction of digital solutions have opened new opportunities to reconsider approaches to doing business. Companies are using new forms of work, including online operations, optimization of business processes and boost the efficiency of their activities through automation, analysis of Big Data, implementation of cloud platforms, electronic document management and the use of artificial intelligence. This sort of transformations has led to the emergence of new business models based on digital technologies, as well as platform and ecosystem solutions, which have become a prerequisite for the development of new market participants, for example, marketplaces. The study examines the theoretical aspects of the development of digital platforms based on the provisions of key theories and also analyzes the results of the activities of the five largest Russian marketplaces in the market of goods and services in Russia. Considering that companies themselves publish primarily financial statements data in the public domain, trends in their work have to be assessed on the basis of reports from news agencies and extremely condensed press releases of companies. The authors highlight the main results and activities of Russian companies Wildberries, Ozon, Megamarket, Yandex Market and Avito and the Chinese ones - Taobao, JD.com and Pinduoduo at the present stage. It has been revealed that the rapid growth of e-commerce, on the one hand, leads to the optimization and acceleration of trade transactions, the involvement of a larger number of sellers and consumers in commercial activities, and the introduction of new technological and management solutions. On the other hand, new risks arise which are associated with market monopolization and the growing influence of digital platforms on consumer preferences and, thus, increasing the impact of company activities on market mechanisms. To address those challenges, timely and comprehensive state regulation of the activities of digital platforms in Russia is needed. In this regard the experience of the People’s Republic of China as one of the world leaders in the field of e-commerce is crucial for Russian regulators.
Copyright (c) 2025 Krasheninnikova M.A., Tsibulina A.N. https://creativecommons.org/licenses/by-nc/4.0
Econometric model of energy: Russia’s response to the challenges of the global economy
The relevance of the study is due to both the high degree of importance of energy for the economic development of Russia and the insufficient use of econometric models in modern energy research. The purpose of the study is to develop and propose an econometric model of the country’s fuel and energy resources. In line with this objective, the research provides a detailed examination of the methodological framework and key stages involved in developing an econometric model using autoregressive analysis for the purpose of studying the Russian energy sector. This is both the scientific and applied, as well as the scientific and methodological significance of the presented publication. To achieve this goal, statistical materials from Rostat “Consumption of fuel and energy resources per person employed in the country’s economy” have been used since 2012. Econometric analysis and statistics are used as a methodology, in particular, an autoregressive analysis model is used. The methodological advantage of the autoregressive model is its flexibility when working with a wide range of different time series patterns. Data Science methods were used to develop the model in particular, cMLE (conditional maximum likelihood method). The autoregressive model itself is written in the high-level Python language. Pandas, Numpy, Statsmodels, Sklearn.metrics, and Matplotlib libraries and modules were used. The study describes in detail the main stages of building an autoregressive model: data selection, visualization and verification for stationarity, data separation into test and training samples, training of an autoregressive model, RMSE analysis. The data obtained are characterized by the absence of an obvious trend: there have been periods of a decrease in the consumption of fuel and energy resources per person employed in the country’s economy since 2012, as well as periods of an increase in the corresponding consumption in tons of conventional fuel. The study concludes that the autoregressive model is applicable to the analysis of the Russian energy sector. Although the time series of data is limited, the autoregressive model has high predictive characteristics. The “conservatism” of the autoregressive model towards underestimating the forecast values is emphasized. It is indicated that as new energy statistics accumulate, the autoregressive qualities of the model will improve.
Copyright (c) 2025 Borodin A.E., Chernyev M.V. https://creativecommons.org/licenses/by-nc/4.0
Analysis of the dynamics of the Mongolian securities market
The study is devoted to the analysis of the securities market of Mongolia, namely its structure, current trends and development prospects. At this stage, Mongolia’s stock market is in its infancy and certainly represents an important component of the financial system. In 2023, it reached a record market capitalization, which amounted to more than 16.9% of the country’s GDP. Nevertheless, market liquidity remains low for the following reasons: firstly, due to the dominant position of several players, and secondly, due to high transaction costs for investors; Third, due to limited access to global markets. The liquidity of financial instruments on the Moscow Stock Exchange is also negatively affected by the weakness of institutions and the underdeveloped infrastructure of the national economy, excessive dependence on exports of goods and external restrictions. The following factors had a positive impact on the dynamics of the Mongolian stock market: lower deposit rates, reduced capital export opportunities abroad, and an increase in the number of IPOs in the banking sector. The vulnerability of Mongolia’s financial system to external shocks is related to monetary policy, which rapidly accelerates the growth of the financial market, but is unable to ensure it in the long term due to stimulating industrial effects. The study presents the dynamics of market indices, trading volume and capital structure, and concludes that it is important to create a diversified and liquid market that will contribute to the sustainable development of the entire economy. The presented research results prove the urgent need to change the rules and conditions of the financial sector in Mongolia. This is a necessary condition for the transformation of the securities market in order to financially support the ongoing industrialization in the country.
Copyright (c) 2025 Dinetc D.A., Lebedeva D.V., Bayantsengel T. https://creativecommons.org/licenses/by-nc/4.0
Optimization of innovation costs for financial crisis-management of Russian organizations
The study is devoted to rethinking the role of financial support for innovation in the new conditions of the Russian economy that arose in connection with the onset of the sanctions crisis in 2022. The subject of the study is the financial aspects of the innovation activities of Russian organizations in the context of economic crises. The purpose of the study is to determine the prospects for rationalizing financial management of innovations to increase the crisis resilience of business entities in Russia against the backdrop of current sanctions. Based on the experience of the pandemic crisis, in the fight against which innovations largely helped, a hypothesis is put forward that the sanctions resistance of Russian organizations is achieved by financing innovations. Based on Rosstat statistics for 82 regions of Russia, the horizontal analysis method is used to study the trends in innovation financing by Russian organizations in 2019-2022. The regression analysis method is used to conduct a factor analysis of the financial position of Russian organizations in 2022 and a scenario analysis of this situation in 2025. A trend of meager growth in the volume of innovation financing has been identified. It has been substantiated that due to underfinancing of innovations in the context of the sanctions crisis, the effect in the field of financial crisis management is much less noticeable than in the context of the pandemic crisis. A model has been compiled that reveals the cause-and-effect relationships of innovation financing by Russian organizations in 2022 and proves that their sanctions resistance depends on it. Scenarios for improving the financial position of Russian organizations depending on innovation financing in 2025 have been proposed. A final conclusion has been made that the need for financial support for innovations in the context of the sanctions crisis (2022) is much higher than in the context of the pandemic crisis (2020), therefore, a forced increase in innovation costs is required. The proposed recommendations will allow Russian organizations to optimize innovation costs and, thanks to this, more fully realize their potential for sanctions resistance and financial crisis management.
Copyright (c) 2025 Tolmachev A.V., Malinovskaya O.A., Bogoviz A.V. https://creativecommons.org/licenses/by-nc/4.0
Financial strategy for modernization of fixed capital of Russian enterprises to strengthen their technological sovereignty
The study focuses on the problem of maintaining Russia’s forward position in the Fourth Industrial Revolution. The study is devoted to the development of scientific and practical recommendations for improving the financial support for the modernization of fixed capital of Russian enterprises. A review of all-Russian statistics of Rosstat for 2017-2022 is conducted and processed using trend and regression analysis methods. Capital expenditures on R & D act as an indicator of financial support, and the involvement of enterprises in technological innovations, depreciation of their fixed capital and the intensity of its renewal act as an indicator of the results of technological upgrading of fixed capital. The financial perspective of technological modernization of Russian enterprises is revealed. A conclusion is made about the need to strengthen the technological sovereignty of business entities; a significant increase in financial support for their activities to modernize fixed capital is required. The study systematizes trends in the modernization of fixed capital of enterprises in Russia in 2017-2022, the imposition of which on future periods revealed the threat of Russia losing its global technological leadership. A model has been compiled that quantitatively characterized the technological response to scaling up the financing of modernization activities in Russia. Taking this into account, a financial strategy for the renovation of the fixed assets of Russian enterprises has been developed to strengthen their technological sovereignty in the period up to 2027. The strategy includes a target for increasing capital expenditures of organizations on R&D and the expected return on it in the field of modernization of the fixed capital of firms in Russia in the period up to 2027. The developed strategy supports the implementation of the Concept of Technological Development of Russia until 2030, allowing to improve its financial support.
Copyright (c) 2025 Litvinova T.N., Konina O.V., Kopytina Y.A., Akopova E.S. https://creativecommons.org/licenses/by-nc/4.0
The mechanism of formation of pricing policy of the organization in the sphere of retail trade: the segment of sales of household appliances and electronics
This study is devoted to the analysis of pricing policy in the retail trade of household appliances and electronics. The purpose of the study is to identify the factors influencing price formation, as well as to build a mechanism for forming the pricing policy of organizations to increase competitiveness and customer satisfaction, considering the peculiarities of this market segment. Pricing policy is an important factor in the development of any organization. In order for the pricing policy to be effective, the company needs to conduct a high-quality analysis of the current market situation, be able to predict the behavior of consumers and competitors, and understand the patterns of all processes in the organization (both internal and external). To make informed decisions on setting prices, the company needs to have complete information about competitors, their range and prices. The value of the study is due to the fact that retail plays a significant role in the Russian economy, but a unified methodology for forming the pricing policy of companies in the segment of sales of household appliances and electronics, considering their peculiarities, has not been formed. According to statistics, the volume of this market in the country is trillions of rubles annually. The financial condition of large players in the market plays an important role for the entire economy. In this study, the authors studied the theoretical basis for forming pricing policy (using specific scientific works as an example), considered the relationship between setting goals for pricing policy at different levels of the organization, and also recorded the dependence of pricing on the company’s strategic goals. A specific list of possible pricing strategies for companies in the field of sales of household appliances and electronics, including for product groups, was given. As a result, a step-by-step mechanism for forming an organization’s pricing policy was proposed, which companies can implement in practice. In the course of the study, the authors used analytical, comparative methods, as well as the synthesis method.
Copyright (c) 2025 Sidorova E.Y., Makin E.A. https://creativecommons.org/licenses/by-nc/4.0
The impact of economic sanctions: scientific approaches and concepts
The purpose of the study is to explore the scientific theories describing economic sanctions and their impact, as well as relevance of their provisions. Events of 2022 have seriously influenced the understanding of restrictions as an instrument of foreign economic policy, which necessitates a revision of fundamental concepts, identification of existing “blind spots” and promising scientific inquiries directions. Through a step-by-step analysis and generalization of the contents of fundamental and applied works of the most cited foreign and Russian scientists who have contributed to the understanding of sanctions, the possible level of their impact on its object, as well as its specific factors and indicators, the following conclusions are drawn. The results of the conducted research are the identified features of the modern theoretical understanding of economic sanctions, as well as the formulated proposals for improving future scientific works in terms of the methodology used and the most relevant thematic areas. Most of the studies establish noneconomic and economic criteria as a determinant of economic sanctions. Methodology concerned, the majority of them are based either on the analysis of databases in which episodes of the application of restrictions are recorded, or on individual case studies. Right now, there is no consensus in the scientific community regarding the assessment of the effectiveness of restriction tools as such. All the new phenomena of sanctions policy, such as secondary and targeted sanctions, cannot fully be considered within the existing theoretical framework. In terms of coverage and consideration of potential influencing factors, the economic component of its understanding is currently inferior to its political science part. However, this drawback is rather temporary, since the scientific field in question continues to be in a stage of active development and comprehension of a significant number of applied works in 2022-2025 timeframe, which can become the basis for conducting new fundamental research based on their data. The study concludes that the influence of non-market administrative barriers on the economy of the object is undisputable. It is noted that the most promising studies today are those that focus on studying new manifestations of restrictive policy (secondary and targeted sanctions) and the impact of restrictions on individual sectors of the economy and their representatives. In this case, the methodological basis should consist of tools for assessing the state and dynamics of both macroeconomic indicators and intra- and inter-industry processes, which make it possible, among other things, to determine the impact of sanctions in the context of individual areas.
Copyright (c) 2025 Mihranyan A.A., Vyshegorodtsev D.D. https://creativecommons.org/licenses/by-nc/4.0
Book review: Kalashnikov, D.B. (2024). Economy of China: Study guide. Moscow: KnoRus publ. (In Russ.)
Copyright (c) 2025 Volgina N.A. https://creativecommons.org/licenses/by-nc/4.0