Финансовый потенциал региона: сущность и элементы управления

The modern economic crisis has essentially affected financial possibilities of the majority of regions Russian Federations. In these conditions for working out of regional economic policy and increase of efficiency of its realization the special attention should be given the analysis of processes of formation and an estimation of financial potential of the region opening financial resources of subjects of economy, factors and conditions of their involving, and also risks and the threats arising in the course of use. In article the essence of a definition «financial potential» reveals, its basic elements and aspects of management are defined.Современный экономический кризис существенно снизил финансовые возможности большинства регионов Российской Федерации. В этих условиях для разработки региональной экономической политики и повышения эффективности ее реализации особое внимание должно быть уделено анализу процессов формирования и оценки финансового потенциала региона, раскрывающего финансовые ресурсы субъектов экономики, факторы и условия их вовлечения, а также риски и угрозы, возникающие в процессе использования. В статье раскрывается сущность дефиниции понятия«финансовый потенциал», определяются его основные элементы и аспекты управления

Energy Security and Energy Efficiency of the Countries of the Eurasian Economic Union (EAEU): Priorities and Contradictions in the Context of the Formation of a Common Electric Power Market

The provision of energy resources is one of the main problems of the modern economy. As a result, energy security (stable supplies at affordable (rational) prices, stable functioning of international electric power markets, reduction of CO2 emissions) is an essential condition for economic growth and development, and concerns all post-Soviet countries. In recent decades, the volatility of electric power markets has increased with the emergence of new energy sources and the development of technologies, which leads to a change in the global structure of energy security. In such circumstances, the role of sub-regional electric power markets is increasing. It should be considered that the same sort of experience has already been applied: the Europe's Single Electricity Market, which has been developing over a rather long period and which has such characteristics as competitiveness and flexibility. However, despite the creation of the Agency for the Cooperation of Energy Regulators (ACER) in 2011, the single internal energy infrastructure of the EU has not been fully formed. In the EU countries, the creation of the market is aimed at improving energy security and energy efficiency by dividing the electricity business into two components - natural monopoly activities (transmission of electricity) and competitive activities (generation and selling of electricity). This has both political and economic significance, contributing to the strengthening of integration processes. However, due to some objective and subjective reasons, the Common Market of the Eurasian Economic Union was not created by the specified date (July 2019), so it is important to identify constraining factors and measures for its formation. © 2020 IEEE

Assessment of the Oil and Gas Sector Influence on the Parameters of the Budget System of the Russian Federation

The article reveals the role of oil and gas revenues in the formation of the federal and regional budgets of the Russian Federation, as well as the channels of oil prices influence on budget system revenues. The stages of forming the government's position on the development of the oil and gas section are highlighted and characterized. The oil and gas sector taxation transformation is disclosed based on the interests of the state and business. The global oil prices dynamics impact on Russia macroeconomic indicators and the monetary and fiscal regulatory tools selection was assessed. © Published under licence by IOP Publishing Ltd

Developing Financial Integration with the Introduction of Financial Technologies in the Eurasian Economic Union Countries

The global economic crisis of 2008—2009 and all subsequent crisis “waves” revealed the need to deepen regional integration processes in order to mitigate the consequences of crises and prevent future financial shocks. This aspect seems significant even for the European Union, which has already achieved a high level of financial integration due to the introduction of a single currency and the establishment of the European Central Bank. However, this problem is even more topical for countries with a significantly less developed level of integration, including the countries of the Eurasian Economic Union (EAEU). The positive effect of financial integration is largely due to financial globalization and digitization of the economy, fintech development, which is a transformative mechanism for coordinating fiscal and monetary policy instruments in financial services, as well as removing barriers to cross-border financial transactions. The purpose of the study is to uncover the prerequisites and trends of financial integration of the EAEU countries amid rapid fintech development and application. The possibilities of its use are revealed by blockchain, Big Data, artificial intelligence, crowdfunding, which can contribute to optimizing customer service, asset management of financial institutions in the domestic market, simplify and increase the speed of information exchange between financial institutions of different countries and the VAT refund process, increase investment flows, develop previously unused business lines, create collective projects and, as a result, contribute to further financial integration and mutually beneficial cooperation. The methodology of the study is based on the synthesis of comparative, structural, expert opinions and statistical analysis methods. Regulatory legal acts of the EAEU and individual countries of the alliance, reports and analytical materials of the Eurasian Economic Commission (EEC) and central banks of the EAEU countries served as the primary sources of the research. It has been revealed that the introduction of fintech in most of the analyzed countries outpaces the formation of the legal basis. At the same time, it was found that the spread of fintech can assist the implementation of all measures outlined by the Concept of Forming a Common Financial Market of the EAEU countries. Owing to Belarus, Kazakhstan and Russia, which are more “advanced” in fintech, Armenia and Kyrgyz Republic have the opportunity to achieve a competitive level in this area in a shorter time. © 2022, RUDN UNiversity. All rights reserved

ФИНАНСОВЫЕ АСПЕКТЫ ИННОВАЦИОННОГО РАЗВИТИЯ РОССИИ

In the 2000s innovative development was identified by the Russian government as a priority direction, capable of creating conditions for sustainable economic growth. At the same time, the introduction of sanctions against Russian economic entities, incl. with regard to the ban on the export of foreign technologies to Russia, the refusal to implement joint projects, the freezing of financial assets and the restriction of access to loan financing in foreign markets, the need to find the most efficient domestic sources of its financing was updated. The article discloses financial instruments of innovative development (subsidies, guarantees, tax incentives) and assesses their degree of use in Russia and its regions. It is shown that the government’s efforts to stimulate innovative activity have contributed to improving the country’s position in world innovation ratings, but in most regions this problem has not been given adequate attention - in 2016, in the conditions of slowing GDP growth and budget deficits, more than 40% on innovation. The reasons for the low effectiveness of such preferences as subsidies for reimbursing the costs of product promotion and providing guarantees to innovative development subjects, which are accompanied by rather stringent conditions, are included. on the share of manufactured innovative products, the level of wages. The priority of tax incentives for innovative development is substantiated and the degree of their use in subjects of the Russian Federation is estimated. It has been proved that with the reduction of privileges granted to scientific organizations, preferences for innovative entities have significantly expanded, but tax incentives for innovation actors provided at the regional level are extremely limited.В 2000-е гг. инновационное развитие было обозначено российским правительством как приоритетное направление, способное создать условия для устойчивого роста экономики. При этом введение санкций в отношении российских субъектов экономики, в т. ч. в части запрета экспорта зарубежных технологий в Россию, отказа от реализации совместных проектов, замораживания финансовых активов и ограничения доступа к заемному финансированию на внешних рынках, актуализировали необходимость поиска наиболее результативных внутренних источников его финансирования. В статье раскрыты финансовые инструменты инновационного развития (субсидии, гарантии, налоговые льготы) и оценена их степень использования в России и ее регионах. Показано, что усилия правительства по стимулированию инновационной активности способствовали улучшению позиций страны в мировых инновационных рейтингах, однако в большинстве регионов данной проблеме не уделяется должного внимания - в 2016 г. в условиях замедления темпов роста ВВП и дефицитности бюджетной системы более 40 % субъектов РФ сократили расходы на инновации. Выявлены причины низкой результативности таких преференций, как субсидии для возмещения затрат на продвижение продукции и предоставление гарантий субъектам инновационного развития, получение которых сопровождается довольно жесткими условиями, в т. ч. по доле производимой инновационной продукции, уровню заработной платы. Обоснована приоритетность налоговых стимулов инновационного развития и проведена оценка степени их использования в субъектах РФ. Доказано, что при сокращении льгот, предоставляемых научным организациям, существенно расширялись преференции субъектам инновационной деятельности, но налоговые льготы субъектам инновационной деятельности, предоставляемые на уровне регионов, используются крайне ограниченно

ЦИФРОВИЗАЦИЯ И РАЗВИТИЕ БАНКОВСКОГО БИЗНЕСА В РОССИИ

The article discusses the prerequisites and directions of the digitalization process in Russia, which, from a simple method of improving the livelihoods of economic actors, has become regarded as a driver of world development. The factors that stimulate these processes are revealed. Digitalization is becoming a factor of a fundamental change in existing business models and business culture, including in the banking sector - a system of mobile and contactless payments is being developed, P2P services, etc., the possibility of introducing blockchain technologies is being revealed, big data. Gradually, classic commercial banks are becoming “digital” organizations that do not have their own offices and ATMs. It is concluded that one of the areas of the most active development of digitalization in the Russian Federation is the financial and banking sector, which in the level of digitalization is less lagging behind the indicators of the level of digitalization of all other industries and sectors of the economy of the most developed European countries. The prerequisites and directions of accelerated digitalization in the banking business are revealed, among which the most significant are the rapid growth of banking sector assets compared to GDP, increased competition in the industry, the policy of the financial regulator, etc. The advantages and disadvantages of the technological platforms used are revealed. The results of the introduction of digitalization in the practice of the largest Russian banks are disclosed.В статье рассматриваются предпосылки и направления процесса цифровизации в России, которая из простого метода улучшения жизнедеятельности субъектов экономики стала рассматриваться в качестве драйвера мирового развития. Раскрываются факторы, стимулирующие эти процессы. Цифровизация становится фактором кардинального изменения существующих бизнес-моделей и бизнес-культуры, в т. ч. в банковском секторе - развивается система мобильных и бесконтактных платежей, Р2Р сервисов и др., выявляется возможность внедрения технологий блокчейна, big data. Постепенно классические коммерческие банки превращаются в «цифровые» организации, не имеющие собственных офисов и банкоматов. Делается вывод о том, что одной из сфер наиболее активного развития цифровизации в РФ является финансово-банковский сектор, который по уровню цифровизации в меньшей степени отстает от показателей уровня цифровизации всех других отраслей и сфер экономики наиболее развитых европейских стран. Раскрыты предпосылки и направления ускоренной цифровизации в банковском бизнесе, среди которых наиболее значимыми являются опережающий рост активов банковского сектора по сравнению с ВВП, усиление конкуренции в отрасли, политика финансового регулятора и др. Выявлены преимущества и недостатки используемых технологических платформ. Раскрыты результаты внедрения цифровизации в практику крупнейших российских банков

ФИНАНСОВЫЕ АСПЕКТЫ ИННОВАЦИОННОГО РАЗВИТИЯ РОССИИ

In the 2000s innovative development was identified by the Russian government as a priority direction, capable of creating conditions for sustainable economic growth. At the same time, the introduction of sanctions against Russian economic entities, incl. with regard to the ban on the export of foreign technologies to Russia, the refusal to implement joint projects, the freezing of financial assets and the restriction of access to loan financing in foreign markets, the need to find the most efficient domestic sources of its financing was updated. The article discloses financial instruments of innovative development (subsidies, guarantees, tax incentives) and assesses their degree of use in Russia and its regions. It is shown that the government’s efforts to stimulate innovative activity have contributed to improving the country’s position in world innovation ratings, but in most regions this problem has not been given adequate attention - in 2016, in the conditions of slowing GDP growth and budget deficits, more than 40% on innovation. The reasons for the low effectiveness of such preferences as subsidies for reimbursing the costs of product promotion and providing guarantees to innovative development subjects, which are accompanied by rather stringent conditions, are included. on the share of manufactured innovative products, the level of wages. The priority of tax incentives for innovative development is substantiated and the degree of their use in subjects of the Russian Federation is estimated. It has been proved that with the reduction of privileges granted to scientific organizations, preferences for innovative entities have significantly expanded, but tax incentives for innovation actors provided at the regional level are extremely limited.В 2000-е гг. инновационное развитие было обозначено российским правительством как приоритетное направление, способное создать условия для устойчивого роста экономики. При этом введение санкций в отношении российских субъектов экономики, в т. ч. в части запрета экспорта зарубежных технологий в Россию, отказа от реализации совместных проектов, замораживания финансовых активов и ограничения доступа к заемному финансированию на внешних рынках, актуализировали необходимость поиска наиболее результативных внутренних источников его финансирования. В статье раскрыты финансовые инструменты инновационного развития (субсидии, гарантии, налоговые льготы) и оценена их степень использования в России и ее регионах. Показано, что усилия правительства по стимулированию инновационной активности способствовали улучшению позиций страны в мировых инновационных рейтингах, однако в большинстве регионов данной проблеме не уделяется должного внимания - в 2016 г. в условиях замедления темпов роста ВВП и дефицитности бюджетной системы более 40 % субъектов РФ сократили расходы на инновации. Выявлены причины низкой результативности таких преференций, как субсидии для возмещения затрат на продвижение продукции и предоставление гарантий субъектам инновационного развития, получение которых сопровождается довольно жесткими условиями, в т. ч. по доле производимой инновационной продукции, уровню заработной платы. Обоснована приоритетность налоговых стимулов инновационного развития и проведена оценка степени их использования в субъектах РФ. Доказано, что при сокращении льгот, предоставляемых научным организациям, существенно расширялись преференции субъектам инновационной деятельности, но налоговые льготы субъектам инновационной деятельности, предоставляемые на уровне регионов, используются крайне ограниченно

Review of programs to support Russian manufactured goods exported to Asia, Africa and Latin America

Purpose: The purpose of this research includes theoretical justification and suggestions to coordinate actions to support Russian exports of manufactured products to Asia, Africa, and Latin America to improve national competitiveness and promote non-resource Russian exports to prospective overseasmarkets of partner countries. Methods: In the research, we used the empirical method in conjunction with classification and synthesis of both applied and theoretical aspects ingovernment support for exports and marketing activities run by Russian goods producers. Results: It was found that because of thetroublesome geopolitical situation, the markets, most promising for home companies, are markets of Asia, Africa, and Latin America. Today's Russian economy development, described with a slowdown in the economic growth and worse sales conditions, hasled to a need in a stronger support that the government provides to exportoriented enterprises to reduce risks and enhance national competitiveness. We have found a basic constraintin preferences and privileges set at the government level for Russian enterprises. The constraint is described with a lack of coordination between various agencies and institutions in this field. We propose to assign activity coordination functions to the Russian Export Centre, for which the framework has been designed to coordinate activities to support Russian manufactured products. Significance: Practical relevance of findings assumes that recommendations (if used) suggested in the article to promote Russian manufactured products would ensure reasonable event management to support export-oriented businesses at any level including the meso-level and the micro-level. © Serials Publications Pvt. Ltd

Transregional coordination of modernization processes in implementation of import-substituting policy in Russia

The article presents results of the research on modernization strategies implemented in Russian economy. Authors have identified three dominating approaches: institutional, innovation-technological and import-substituting modernization. They have stated that import-substituting modernization in Russia is ongoing in terms of sanctions, a shortage of investment resources, insufficient home demand and significant regional differentiation. This necessitates strict coordination in modernization processes. To achieve this, authors have proposed a toolkit for transregional coordination in modernization processes to implement import-substituting policies based on integral indicators. Findings confirm that regions, in their efforts to achieve modernization targets, use their potential in a inefficient and counterproductive manner. One might use the developed toolkit as a classifier of regions and sectors of economy by criterion of dynamics in modernization processes, as well as a basis for indicative planning. © 2018 International Strategic Management Association.All right reserved

Analysis of the agro risks of import substitution of the food production

The relevance of the study is related to the current conditions of the functioning of the Russian economy. The objective of this article is to study the import substitution in terms of possible agro risks and threats caused by the economic and political situation. The analysis of the statistical data characterizing the import substitution in the food industry showed the inefficiency of the current forms and methods of state support. The main sources of risks of import substitution are defined. The change in the global situation and geopolitical realities, which are exacerbated by the low technical level of equipment and the lack of resources, allowed to ascertain that the goals of import substitution can be achieved only through the modernization of production and the introduction of innovative technologies in the food industry. The methods of modernization proposed in this article will make it possible to form a competitive agro-industrial complex able to provide the domestic demand and export supplies with food products. © 2017. ASERS Publishing. All rights reserved