Vol 28, No 3 (2020)


Financing innovative development of the African economies: the role of digitalization and financial innovations

Alhassan T.F., Kouadio A.J., Gomado D.E.


The article examines the relationship between financial innovation (mobile banking) variables in sub-Saharan Africa. Mobile banking (also known as mobile money) is one of the main financial innovations in the sub-Saharan region, and it is a system through which non-bank residents (residents without bank accounts, etc.) receive financial services. The overall importance of financial innovation in today’s digital and knowledge-based economy, and indeed, innovative development, inspired this study. Using a partial linear regression model, we analysed the International Monetary Fund data set, the World Bank’s national economic data, and mobile banking data from GSMA for the period from 2011 to 2017. A negative correlation was found between these variables and growth, as well as financial development, but a positive relationship was established between financial development and economic development. This positive relationship re-confirms the argument that financial development affects economic growth. It is recommended that policy makers develop and implement the necessary policy tools that can promote this form of financial innovation, and thus link its benefits to the national economy in general.
RUDN Journal of Economics. 2020;28(3):429-439
pages 429-439 views

Russia and Turkey: new trends and prospects at the present stage

Budarina N.A., Ibragimov I.R.


The research of the scientific article is devoted to the current state of bilateral relations between Russia and Turkey, the main directions of cooperation and prospects of interaction. At the moment, in addition to comprehensive and deep relations between the two countries, Russia and Turkey are linked by trade, energy, investment and military cooperation. A survey conducted in Turkey showed that more than 70% of citizens have a positive view of the political and economic union with Russia. Turkey has become Russia’s fifth largest trading partner over the past two years, helped by the signing of a joint declaration on the lifting of trade restrictions and the normalization of economic relations. The article analyzes the volume of trade turnover with Turkey, considers promising investment projects, the role of mutual investments, and introduces formulas for calculating the indicators of complementarity and payback periods of the Akkuyu investment nuclear project.

RUDN Journal of Economics. 2020;28(3):440-449
pages 440-449 views

Investment projects in the largest cities of the Samara region

Mironova M.N., Rodina M.E.


The article is devoted to the study of the sectoral and territorial structure of investment industrial projects in order to identify the potential development of the Samara region in a 30-year perspective. The main information of the study was the data on the developed and implemented investment projects of 2008-2048 from the Fund “Agency for Attracting Investments of the Samara Region”. It was revealed that more than 80% of the total investment in these projects is related to strategic projects designed to ensure the integrated development of the region. This implies the future changes in the sectors of the regional economy and its spatial development. 144 regional investment projects were considered, 79 of which are industrial and at the same time concentrate 2/3 of all investments. The analysis showed that the number of investment projects in the manufacturing industry of traditional areas prevails, however, 75% of the financial resources are allocated for the development of the fuel industry (the creation of oil refineries). A significant part of the projects is located in the largest cities: about 90% of all investments were directed to four cities - Samara, Novokuybyshevsk, Syzran and Tolyatti. The most important investment industrial projects are described for these cities, they make adjustments to their city-forming functions. Information and statistical base are materials of the Federal State Statistics Service and sites of cities of the Samara region also. The region specificity of current socio-economic situation is characterized and the industrial profile is determined. The most important cities are described as the centers of the region by their location, the main industries and leading enterprises. A comparison of the existing sectoral and territorial features of Samara regional economy and its investment projects allowed to draw the following conclusions. The most of industrial projects are implemented in the same industries that are basic in the economy of the region, so it will continue in the future. The role and importance of oil refining in the economy will increase significantly, while the manufacturing industry will decrease. The spatial picture of the economy will not change, but the imbalances will increase due to the development of large-scale oil refining projects in the largest cities of the Samara region. The processes of diversification of industrial production will mainly affect the development of the cities of Togliatti and Samara.

RUDN Journal of Economics. 2020;28(3):450-464
pages 450-464 views

Current trends, foreign economic development strategies, and competitiveness of transnational corporations of Japan, China and Southeast Asia: comparative analysis

Mishchenko Y.V.


The purpose of this research is a comparative analysis of modern strategies for foreign economic development and transnationalization of large businesses in Japan, China, and Southeast Asia. The article analyzes modern investment strategies and the main trends in the activities of transnational corporations in these countries. The relevance of the article is due to the important role of TNCs in the international exchange of foreign direct investment, their significant contribution to improving the socio-economic level of their home countries, as well as strengthening and expanding trade and economic ties between the states of East Asia. When preparing the work, we used such quantitative research methods as statistical analysis, ranking, comparison. We use theoretical (descriptive analysis, content analysis) and empirical (working with official documentation) methods for collecting information. Official publications and materials of the UN Conference on Trade and Development (UNCTAD), as well as the work of Russian scientists and researchers, made a significant contribution to the theoretical and factual base of the study. The article compares the total volume of assets held by corporations in the countries under consideration and the volume of foreign assets. The author analyzes the spheres of economy in which their TNCs are engaged and attempts to identify their international specialization. Singapore and Malaysia are defined as the Southeast Asian countries that are most successfully developing the process of transnationalization of large businesses; however, business transnationalization is uneven in the sub-region. Various motives for the transnationalization of large businesses in the compared countries are highlighted, as well as modern examples of their investment interaction, mergers, and acquisitions conducted by East Asian TNCs.

RUDN Journal of Economics. 2020;28(3):465-478
pages 465-478 views

Development of inter-municipal cooperation as a factor in the intensification of investment processes in a region (on the example of the Vologda region)

Moskvina O.S., Nespanova I.V.


Currently, the heterogeneity of economic space, relatively low development rates and negative trends in the socio-economic development of individual territories, and limited resource opportunities (including investment opportunities) are among the significant problems of municipalities. One of the mechanisms for solving them at the level of local government bodies is the institution of inter-municipal cooperation. The aim of the paper is to analyze the possibilities of territorial and sectoral inter-municipal cooperation aimed at overcoming the negative imbalances of the region's investment development (based on a case study of the Vologda region). The methods of cluster analysis and time series analysis were used, as well as tabular and graphic methods for the visual representation of the study results, the application packages “MS Excel” and “STATISTICA”. The paper examines the main trends in the development of inter-municipal cooperation processes in the Russian economy, identifies the specifics of the interaction of municipal entities in the Vologda region, and presents a territorial and sectoral approach to the development of different forms of cooperation based on the example of the Vologda region. The obtained results can be used by regional and local authorities in the development of investment policy, the formation of a system of organizational and economic mechanisms for the intensification of investment processes in the region. The study materials presented in the paper may be interesting for scientific discussion, for use in scientific and educational activities.

RUDN Journal of Economics. 2020;28(3):479-490
pages 479-490 views

Problems of developing the customs and logistics infrastructure of the East-West International Transport Corridor

Fedorenko R.V.


The aim of this work is to identify key aspects of the impact of customs and logistics infrastructure on patterns of change in trade between the countries participating in the East-West International Transport Corridor. Author identifies factors that have the greatest impact on the volume of freight traffic and highlights the prospects for the development of foreign trade cooperation. The article describes the main problems hindering the full use of the transit potential of the transport corridor, and indicates areas for improving its transport and customs and logistics infrastructure. The relevance of the studied problem is due to the increased interest of the participating countries of the East-West International Transport Corridor to its further development and increase in mutual trade. The scientific significance of this problem is due to the need for an integrated approach to forming the framework of the international transport corridor, combining terminal-warehouse infrastructure, a customs administration system and a range of services arranged by logistics providers and customs intermediaries. Currently, there is no comprehensive understanding of the processes of organizing the movement of international goods flows. This combined understanding should unite issues of customs escort, development of terminal handling of goods, embedding the existing logistics infrastructure in the international transport corridor and ensuring the attractiveness of this route both for foreign companies using it as a transit route and for enterprises aimed at exporting their products.

RUDN Journal of Economics. 2020;28(3):491-504
pages 491-504 views


Global artificial intelligence systems and technology market: formation and development trends

Matyushok V.M., Krasavina V.A., Matyushok S.V.


Every day more and more companies rely on artificial intelligence, from small startups to large companies, among which stand out not only the IT giants Google, Microsoft, Facebook, IBM, but even those that seemingly far from this topic - for example, General Motors and Boeing created a joint laboratory for AI research. It becomes obvious that AI technology is the real mainstream of our time. The article examines the global market for artificial intelligence systems and technologies. The authors described the peculiarities of the formation of this market and the main trends and segments in its development. The goal of research - identify the dynamics, features and trends of the global market for artificial intelligence systems and technologies. The methodology of system analysis, the dialectical method of scientific cognition, methods of historical, logical and comparative analysis are used. The concept of artificial intelligence has been systematized, the dynamics of the global market for artificial intelligence systems and technologies have been revealed, as well as in the regional context. The relationship between its dynamics and the sharp jump in performance of information processing algorithms, which became possible due to the fast computer based on GPUs, an avalanche-like data growth and the emergence of almost unlimited possibilities for storage and technology access, has been detected. It is shown that the global market for artificial intelligence technologies is in a phase of inflated expectations and with a high enough level of risk for investors. The main trends and segments in the development of the global market for artificial intelligence systems and technologies have been identified. These include deep learning technologies, the convergence of AI technologies with other technologies such as analytics, ERP, the Internet of Things, blockchain, and even quantum computing, which has the greatest impact, the development of cognitive intelligence systems, and the creation of a cognitive computer. It is shown that business leaders consider AI fundamental and absolutely necessary for the development of future business opportunities. It has been proven that the rapid development of AI systems and technologies is not just another technological innovation, but the technological platform of the Fourth Industrial Revolution, which is associated with hopes for accelerating the economic growth of the world economy, increasing the competitiveness of countries and companies.

RUDN Journal of Economics. 2020;28(3):505-521
pages 505-521 views

Review of the material and technical potential of organizations engaged in research and development

Lebedeva D.V.


Realizing nations’ innovative potential is essential for their economic development and global competitiveness. The purpose of this article is to analyze the material and technical potential of the research and development sector. Organizations’ material and technical security is one of the main elements of effective innovation. According to official statistics, Russian Federation assets are characterized by a high degree of wear, low insertion and disposal that undermines economic growth. This article analyzes international financial reporting standards for accounting and depreciation of fixed assets, and identifies ways to improve research and development logistics in the Russian Federation.

RUDN Journal of Economics. 2020;28(3):522-535
pages 522-535 views

China’s AI experience: industrial digitalization

Reshetnikova M.S.


The rapid acceleration of scientific and technological progress, which started at the beginning of the 21st century, has become a decisive factor in influencing the global economy. Who will lead the global innovation race? This problem is especially relevant in the field of artificial intelligence (AI). At the moment, the United States and China are the main participants in the battle for dominance in this area. The author assesses China’s innovative potential in the field of AI and identifies its achievements in this area. Based on the statistics provided, China’s AI leadership has reached a critical point. China is confidently leading the new fundamental research of artificial intelligence, forming its theoretical base and applied research and development, which will contribute to the creation of new high-tech innovative products and services. However, in terms of the number and quality of AI specialists (AI Talents) and the number of companies engaged in AI, China is still lagging behind its main rival, namely the United States. The author proved that, despite the obvious successes of China, the United States still has an equal lead in the global innovation race.

RUDN Journal of Economics. 2020;28(3):536-546
pages 536-546 views

Digital economy: communication using neural networks in international communication

Strenina M.A.


The article considers theoretical and practical issues of development and implementation, as well as potential development of technological solutions for voice communication of people speaking foreign languages using simultaneous machine translation, as well as potential directions of these programs for international conferences, seminars, business meetings, education in foreign universities. The article deals with the concrete experience of implementing a scientific and technological project on software development and application development carried out within the framework of the innovation project of the Russian Foundation for Innovations Development. The potential of development of this type of technologies and products in Russia in conditions of digital economy creation is also analyzed.

RUDN Journal of Economics. 2020;28(3):547-555
pages 547-555 views

Challenges of digitalization and artificial intelligence for modern economies, societies and management

Clauberg R.


This study aims at identifying the challenges of digitalization and artificial intelligence for modern economies, societies and business administration. The implementation of digitalization schemes as Industry 4.0 are presently official policy of many developed countries. The goal is optimization of production processes and supply chains. Artificial intelligence is also affecting many fields. Both technologies are expected to substantially change working conditions for many people. It is important to identify the kind and impact of these changes and possible means to minimize negative effects. For this purpose, this study uses previous results about the disappearance of manufacturing jobs in the USA and their impact on different groups of society together with technical information about the new technologies to deduce expected changes caused by digitalization and artificial intelligence. Results are that both technologies will destroy large numbers of jobs and complete job classes while at the same time creating new jobs very different from the ones destroyed. Extensive permanent education and re-education of employees will be necessary to minimize negative effects, probably even changes to a more broad-based education to improve the potential of job changes into completely new fields. In addition, the technical information about digitalization in cyber-physical systems points to dangers that will require solutions on the international level.
RUDN Journal of Economics. 2020;28(3):556-567
pages 556-567 views


Public procurement as an instrument for implementing economic policy (experience of EU countries)

Kheifets B.A., Chernova V.Y.


The article explores the experience of a number of EU countries. It is revealed that in the EU countries there is growing interest in using public procurement policies for food security by promoting the development of farms, small farmers entering the national market, increasing their incomes, developing rural areas, improving quality nutrition. The main directions of transformation of public procurement policies in the agri-food sector are green public procurements (GPP), aimed at solving environmental problems, and sustainable public procurements (SPP). At the same time, inclusion of quality criteria in the public procurement system and access to the market public procurement of small agricultural producers requires solving a number of problems, including increasing the professionalism of state buyers, introducing innovative methods in boards using modern technology. In addition, the multisectoral nature of these initiatives requires coordinated action between different sectors of the economy at all levels. The conclusion is drawn on the need to transform the Russian government procurement policy in accordance with the target guidelines of economic policy in modern conditions.

RUDN Journal of Economics. 2020;28(3):568-584
pages 568-584 views

Justification of necessity and analysis of state support of agroindustrial complex in the Russian Federation

Karavdin A.A.


Issues related to state support of the agro-industrial complex are relevant for all countries of the world, including the Russian Federation. The article deals with the key problems of the agro-industrial complex, which are mainly caused by the features of agriculture. The necessity of state support for the agro-industrial complex of Russia on the basis of the identified problems is substantiated. The article analyzes the directions and measures of state support in Russia, the differences between the stated goals in the state program for the development of the agro-industrial complex and the results in practice. The lack of a comprehensive approach to solving existing problems and proper control over the implementation of the state program, ill-considered and insufficient funding of individual programs, lobbying by large agricultural holdings of their interests and the monopolization of agricultural production do not allow to rely on the development of small agribusiness and rural areas.
RUDN Journal of Economics. 2020;28(3):585-596
pages 585-596 views

Foreign trade security and its support system as a special element of economic security of the state

Pak A.Y.


The article offers a classification of types of economic security and separately identifies foreign trade security as the most important element of the state’s economic security in the context of global escalation of trade contradictions in international trade. The essential characteristics of foreign trade security, characterized by permanent external influence, are revealed. Based on the identified features and characteristics, the definition of foreign trade security is given as a state of protection of exports and(or) imports from threats caused only by external influence, but not internal, in contrast to other types of economic security. It is shown that it is impossible to achieve the state of full provision of foreign trade security of the state in the conditions of participation in international economic relations. To resolve the contradiction between the goal of maximizing the effect of foreign trade activities and the simultaneous need to ensure security, we propose the formation of a scientifically-based system for ensuring foreign trade security and identify its main constituent elements.

RUDN Journal of Economics. 2020;28(3):597-607
pages 597-607 views

Foreign experience in the implementation of PPP projects for the improvement of the Russian model

Lazanyuk I.V., Yakovleva T.V.


This article represents a comprehensive analysis of the PPP projects implementation. The goal is to improve the Russian public-private partnership mechanism by exploring foreign practice. It entails specific objectives: to compare the selected countries according to the criteria of a legal framework for PPP implementation, the forms of PPP, the organizational and legal structure for managing these partnerships. The article reveals the interconnection between the priorities of specific industries for PPP implementation as the social and economic development of these countries. In addition, the problems in the Russian PPP model are identified and the ways to eliminate them are presented based on the best foreign practice, both for the mechanism as a whole and concerning a specific area - healthcare.
RUDN Journal of Economics. 2020;28(3):608-619
pages 608-619 views


Belt and Road Initiative: prerequisites for China’s modern foreign economic policy

Belova I.N., Egorycheva E.A.


The article deals with internal and external factors, which have an impact on China’s foreign economic policy at the period of the “new normal”, highlights new priorities and directions for the modern foreign economic policy in China. The article attempts to summarize all the economic, political, environmental, and social challenges that the Chinese leadership currently faces at the domestic, regional, and global levels. Special attention is paid to the One Belt, One Road Initiative, which reflects and summarizes new directions of China’s foreign economic policy in the context of slowing down the national economy development, excessive production capacity, the growing disparity in the development of Western and Eastern regions of China, the escalation of economic confrontation with the United States and further deepening cooperation with countries in the Asian region.

RUDN Journal of Economics. 2020;28(3):620-632
pages 620-632 views

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