SHORT- AND MIDDLE-TERM RESULTS OF KNEE JOINT REPLACEMENT WITH ZIMMER NexGen CR AND LPS IMPLANTS

The article presents the experience gained by orthopedic unit of Saratov Regional Clinical Hospital at knee joint replacement with modern implants. We analyzed use of Zimmer NexGen CR and LPC implants for initial total knee joint replacement in 285 patients. The monitoring continued for 5 years. Good and excellent results were observed in 92% of cases. Pyogenic complications were observed in 2.3% of cases. The article describes the methods of surgical intervention and post-surgical rehabilitation. We consider our experience with Zimmer NexGen LPS and CR knee-joint implants as positive and prospective for further use

Integration development in the post-soviet space

The issues related to specifics and problems of economic integration in the post — soviet space are considered. Reasons for the USSR collapse. The Commonwealth of Independent States (CIS) creation as an attempt to conserve economic relations in new circumstances. The role of the Russian Federation at the territory of the Commonwealth of Independent States is shown by example of main macroeconomic indicators. Main problems and development perspectives of new integration formations at the base of CIS — Customs Union and The Eurasian Economic Community — are listed

“Electronic Government”: the First Stage of Information Society Formation

This article deals with problems and prospects of e-government in Russia; the global experience and phases (informational, interactive, transactional, information society) of transition of countries with different social-economic types of information to the e-government are analyzed. Some successful examples of e-government functioning in regions are concerned, some prospects are identified

Road construction as a key area for public private partnership in the investment complex of Russia

The authors of the article review the prospects of the transport sector in general and the scope of road construction in particular to use the tools of public-private partnership (PPP) in Russia. Conjectured that road construction should be treated a key area of cooperation development between the state and private business structures of Russia’s investment sector in PPP format to stimulate economic growth in the coming years. The authors analyze the state statistical reports, legal acts, industry studies and other evidence relating to roads and transport for reasonable assurance of hypothesis that had been put forward

The international comparison of Russian financial center and its foreign competitors

The article deals with the development indicators of the international financial centre in Moscow. The authors were also made the comparison of the particular development indicators of the domestic financial market against nearest regional competitors - Poland and Turkey, BRICS partners and market-leaders, mainly located in developed countries, such as United Kingdom, USA, Switzerland, Japan, Singapore. The analysis of the institutional investors’ assets was made in the international context. The research results are based on the unbiassed calculations, giving an opportunity to expose the development gap between national financial centre in Russia with the international rivals eliminating the subjective estimates of the foreign experts

Outsourcing as a financial tool for cost management

The article deals with the problems of financial cost management and increasing cash flows. Outsourcing as a business model allowing to save on expenses and release current assets emerged in the early 20th century. In crisis situations, the most efficient approach out of all types of outsourcing examined in the paper seems to be a combination of operational and joint venture outsourcing. Non-core activities outsourcing is assessed by companies as highly efficient, which demonstrates that outsourcing is regarded both as a tool for business transformation and as a way to reduce expenses. The article suggests a model for the calculation of operation costs reduction and fiscal effect as well as for the assessment of risk arising from operational outsourcing of a service

Monetary innovations and digital economy

This article discusses the main changes in the field of digital and cryptocurrencies, as well as their interpretation from the standpoint of the common theory of money (e.g. the definition of monetary functions). The consequences of the central banks’ monetary policies as well as their reaction by launching their own digital currency (central bank digital currency/CBDC) have also been dwelt upon. The possible changes in the global currency system have been outlined. Special attention has been paid to the development of higher economic education as a result of the new monetary and financial technologies and the digital economy. These topics have been set forth against the background of the experience of different countries (with a particular emphasis on Russia's practice), as well as by summarizing leading research and publications in the field. © 2019, Bulgarska Akademiya na Naukite. All rights reserved

Society Sectors Network Cooperation Progress as a Condition of Economic Modernization

The article is devoted to the network relation particularities description of society sectors - state and civic society structures (business and nonprofit organizations), possible types, consequences and modern cooperation peculiarities, cooperation development perspectives for successful modernization process of Russian economy on the basis of authority power reformation, civic society structures and sectors' partnership stimulation

Level of specialization and management methods in small and medium enterprises of the gas industry

Corresponding author: Daria Motała Received: 24 January 2018 Abstract Accepted: 12 June 2018 In small and medium-sized enterprises (SMEs), the ways of operating are dependent on the specific nature of their business activity, while management methods are often used intuitively. The paper shows that specialization, defined as offering products to companies from one or from two to four industries, is of great importance among SMEs in the gas sector. The analysis of the applied management methods allows us to conclude that the most important ones are those related to human capital

How attractive are municipal bonds for the passive competitiveness: the case of immunization of municipal bonds

Purpose: This paper study regional attractiveness through passive portfolio investment based on duration, immunization and convexity (in case of higher interest rate volatility) of municipal bonds by using data from Standard and Poor’s. The massive variety of financial incentives to promote regional investment attractiveness is dependent on governmental strategy. Municipal bonds are the one of the most efficient ways of direct investments in the region, however, it is still a question of a good balance between a certain rate of return and an adequate risk. The purpose of this paper is to analyze the investment opportunities in municipal revenue bonds. Design/methodology/approach: This study developed a model of investing using municipal bonds with the case of their immunization and analyze attractiveness of such investment. The theoretical model assumes a situation where the local government finances its capital projects through municipal revenue bonds. Such situations influence strongly on regional or local competitiveness provided by local government policy. Findings: An analysis of the municipal bond market indicates that both municipal general and revenue bonds had stable and good level of yields to maturity in the past ten years. Their standard deviations were very low and in the past two years almost approached the level of standard deviations of treasury bonds. With the duration of 4–6 years on 5-year investment in municipal revenue bonds and their immunization, it is possible to provide good returns for investor. Research limitations/implications: The limitation of this study concerns theoretical situation where local government will use non-market-based policy to reduce the interest rates and that will influence on rise of municipal bond liquidity premium (price distortion). This situation will make municipality bonds less attractive for investing, especially because of lower liquidity on secondary market. Also, this model is applicable in regions that have developed financial markets. Practical implications: This research suggests governments a sustainable framework to use municipal bonds as a strategy for capital targeting in regions. Social implications: This research is related to professional investors’ strategy with projects that have the highest investment potential; this is good way for an adequate allocation of resources (regional competitiveness). Originality/value: This paper analyzes very rare subject involving local government strategy of finance and portfolio investment in municipal bonds. There is a huge gap in the literature on this issue. Also, this study provides the model that can be used as a case for higher local competitiveness. © 2020, Emerald Publishing Limited