No 3 (2014)

In this article prerequisites of increase and a current state of external debts of CIS countries which the countries from the point of view of economic security are the most significant and demanding development of urgent measures for management are analyzed. Stages of formation of external debts are allocated and characterized, the new threats which have arisen during the post-crisis period are defined, and also the measures used for decrease in debt burden are described.

Sovereign funds are considered as a source of investments to modernize economy. The experience of France Strategic Investment Fund was studied. The return on investment of the Reserve Fund and National Welfare Fund was analyzed and it was concluded that the efficiency of investments of these funds was insufficient and there are possibilities for the investment of the part of Russian Sovereign Wealth Funds into national economy. The opportunities to attract investments into the economy of the Russian Federation from foreign sovereign wealth funds as well as prospects for co-investment in the framework of the Russian Direct Investment Fund including cooperation with Caisse des Depots International were scrutinized.

Contemporary development of agriculture is characterized by the growth of territorial concentration of production of the main staple and industrial crops. Key role in the world agriculture is performed by a relatively small number of specialized regions, which belong to several countries, including Europe and Russia. Emerging and evolution of these regions depends on natural (agroclimatic potential, reserves of unexploited lands) and social-economic factors (demography, level of economic development). Also important is geographical location and level of development of transport infrastructure. In foreign countries of Europe the network of agricultural regions is relatively stable. In Russia, where market reforms have recently started, and there are huge areas of none-efficiently used lands, the contemporary regional structure of agriculture is in the process of forming. If the trends in regional development of agriculture in Russia will remain, in the near future the country will overcome dependency on food import and become one of its largest exporters in the world.

In article the essence of the mechanism of fіducіary management of state ownership is concretized, its distinctive feature consisting in preservation behind the state of the property right to object and transfers of competences of the state to the trustee within the legal obligations allowing to carry out the managing actions over object of property is revealed. Experience of use of fіducіary management of state ownership in Kazakhstan is investigated and specifics of privatization in Kazakhstan consisting in use of transfer of the state property to fіducіary management for privatization are presented. The recommendations about development of fіducіary management of state ownership in Kazakhstan consisting, first of all, in overcoming of the legal barriers interfering development of the confidential relations in Kazakhstan are made.

The mean-variance approach futures hedging is under consideration. The representation of expected return and variation are derived for portfolio with futures. The hedging problem statement assumes limitations on expected return and on the number of futures in portfolio subject to market conditions. Adaptive methods for forecasting of necessary price parameters are used to estimate the efficient portfolio. All theoretical conclusions are illustrated on concrete examples.

The article introduces a new concept of “global innovation hyper competitive companys” (GIGC), analyzes their characteristics and functions in the modern economy; defines the essence of hyper competition as a new kind of competition arising between GIGC on global, national, regional and local markets; introduces a new definition of “dominant innovation” and the related “multifunction innovation”; shows an increasing role of GIGC in today’s global economy: these companies provide the innovation scientific and technological development, they act as locomotives of the world economy, are the bases of the economies of most developed countries of the world; receive a global information rent and hyper competitive profit.

In the present article is explained the role of personnel evaluation in the companies of PRC (as: shortage of the qualified experts, responsible for the stuff-evaluation; non-structural evaluation procedure; existence of unprompted evaluation procedures; absence of feed-back from the evaluated staff; drawbacks in the practical employing of foreign methods by the Chinese head executives. The specific recommendations are given on effective development of the personnel evaluation system for HR technology in the Chinese companies: increasing in professionalism of the estimators; accurate planning of the estimation procedure; asking for feed-back from the evaluated staff; extension of evaluation methods (from traditional interview to complex and elaborated methods of personnel evaluation); providing transparency of evaluation procedures (let each member of the staff be aware of the rules, results and consequences of the evaluation); introduction of the foreign evaluation methods and technologies and their proper adaptation to the specific national environment.