No 3 (2010)

Today the most important factors for long-term economic growth is not only labor and large stocks of physical capital but human capital investment, high government spending in infrastructure and basic research, innovation, combined behavioral and institutional parameters. This conclusion is also supported by the modification of the econometric Makarov-Ayvazian model, using which examines the dynamics of macroeconomic indicators of Russia as a result of the interaction of endogenous and exogenous factors. Scenario calculations show that even without considering the impact of the current economic crisis, maintaining fixed capital investment at the same level will lead to stagnation and stop growth. At the same time, increasing investment and public spending, but the same pace, while maintaining their low returns, is leading to slower economic growth. To modernize the economy an appropriate institutional environment is necessary, in the presence of which all factors are beginning to generate an endogenous, self-sustaining growth.

Information and communication technologies are the key changes in the economy as a whole, and in modern companies in particular. The economic development of the country and its competitiveness in recent years more and more dependent on factors related to innovation, information and communication technologies, the use of global computer networks at all levels. The article analyzes the current use of information and communication technologies in the companies of the Russian Federation. Today companies are forced to attend to ICT in order to remain competitive, but still face several challenges.

The article raised questions about the appropriateness of the term «regional economic security». It is proposed an analytical review of the definition of «region» in the normative legal space of Russia and in scientific research. Objects and levels of economic security were refined. Justify the inclusion of multiple levels of the economic security of the country meso-level of the combined economies of the RF subjects. Proposed by regional economic security to consider two levels: the level of economic security of federal entities and meso-level of economic security.

The article touches upon ways by which housing and utilities companies can reach their strategic competitiveness parting from their real recourse and organizational potential. A matrix of strategic choice for such companies' competitive ability is offered. It integrates their economic and organizational activity with various services in the market due to different stages of the life cycle. The matrix allows to define the main ways of making the work of such companies better. It's done at the expense of equipment renewal, technological processes optimization and increasing of service quality that influences consumer demand and competitive ability.

Some features of art-markets of the USA, Great Britain, Italy, Australia and Latin America covering the period from the middle of 20-th century to the beginning of the 21-th century are considered in the work. The results of investigations for the market for paintings and statistical data of annual rate of return of different kinds of investments in Turkey are given. The conclusion of the possibility for the diversification of any portfolio by investing to art not only in the developed countries, but also in an environment of high inflation and large macroeconomic volatility is made.