Conceptual approach to the development of financial technologies in the context of digitalization of economic processes

The successful introduction of the digital economy into the information space of the Russian Federation involves the solution of several problems associated with the transition to a new paradigm of economic development based on the digitization of social and economic processes. At the same time, the existing regulatory mechanisms and legislation do not create optimal conditions for the development of the market of new financial instruments and technologies in Russia today. There are socio-economic risks, the key ones including an increase in the outflow of capital and innovative projects to other countries, a lack of confidence on the part of potential investors in new financial instruments, a decrease in the stability of traditional financial institutions. On this basis, the following tasks have been set in this article. To consider the terminology in the field of digital economy from the theoretical aspect; to identify trends and justify the need for digitalization of economic processes based on the use of new financial technologies; to reveal the informative characteristics of financial technologies promising for Russia. This article ends with a conclusion that the development of the digital economy in Russia is due to the need to ensure the information and economic security of the state, realize the potential of the new economy to improve the standard of living and national well-being through the introduction of innovative communication and financial technologies. The impact of the “digital economy” on socio-economic processes is multifaceted. It is sustainable and permeates all spheres of life, being an integral part of modern society.peer-reviewe

Increasing the budget costs’ efficiency as a factor of state finance stabilization

The article stands for comprehensive system approach in increasing the effect and performance of budget costs, providing the stability and long-term sustainability of state finance. In recent times Russia has gone to considerable lengths in introduction of result-oriented budgeting both on federal and regional level. In a similar vein, we could highlight the fact that insufficient conditions are created to increase the efficiency of budget costs management. The research paid much attention to the issues connected with evaluation of budget costs’ performance in conditions of implementing the concept of budget consolidation and budget constraints. Authors set number of objectives: studying economic essence of “efficiency” and “performance” of budget expenditures; studying the framework of budget stabilization financial support measures; revealing the methodological approaches in budget cost effect evaluation in the framework of program-target budgeting including the regional level. The article concludes with the necessity of improving the evaluation system of criterion-based budget costs’ management as well as highlighting the condition when the positive effect of program-target budgeting is reached: firstly, solving of methodological problem of measuring the planned (target) and actual results of budget funding; secondly, taking measures of strengthening the real responsibility of state authorities for accomplishment of target indicatorspeer-reviewe

Legal issues of correlation between state and public control in the sphere of higher education

Objective to determine the ratio of different types of state and public control in the sphere of higher education and to propose an optimal model of their interaction. Methods systemicstructural approach to the analysis of the research object comparativelegal and logical methods. Results basing on the regulatory framework analysis licensing procedures state and public accreditation of basic educational programs in the field of higher education critical consideration of the main directions of state policy in the sphere of education the authors summarize the educational reform make proposals on improving the legal tools in the sphere of higher education control and supervision in the Russian Federation. Scientific novelty for the first time the different parameters of the state and public control in the sphere of higher education were comprehensively examined in the context of compliance with the principles of state management. Practical value basing on the study of the theoretical foundations and practical examples the authors make proposals to improve the existing legislation regulating relations in the sphere of state and public control of higher education. nbs