OPPORTUNITIES AND PROSPECTS OF DEVELOPMENT FOR THE DIGITAL ECONOMY IN THE WORLD AND THE RUSSIAN FEDERATION

Implementation of digital economy tools in the new information environment is a catalyst for innovative development of the economic environment of the state as a whole. It is obvious that not all the available opportunities and resources for the development of the digital economy have found their vectors of implementation, many of them have not been studied sufficiently and haphazardly, the existing potential and prospects have not been disclosed.Understanding of the need to develop elements of the digital economy has come to a head in the Russian economic and legal environment, as evidenced by the development and implementation of priority areas of the strategy of scientific and technological development of Russia. The mentioned problems determine the relevance of the research study of the possibilities of applying the positive foreign experience of digitalization of the economy in domestic practice. The paper provides an overview of the main categories of the digital economy, examines the features of its widespread distribution in the countries of the world, assesses the opportunities and prospects for the development of digitalization in Russia. New technologies, criteria and approaches to assessing the level of the digital economy, its institutionalization require effective regulation and management.

Value formation of innovative product : a way to commercialization

Purpose: The issues of studying the value formation process of an innovative product, from the idea to the prototype to the commercialization of the output from the production line, depending on the type of innovations, are the aims of this article. Design/Methodology/Approach: The conceptual framework of "value" and "innovations" is explored and the theoretical basis of the value approach is revealed at the beginning of the article. The definition of an innovative product is given and the development process and the mechanism of its value formation at each development phase are revealed. Findings: The value-added elements are specified, from the idea generation to the commercialization of the innovative product. The expenses for the calculation items and the development phases of the innovative product are estimated. Practical Implications: Categories of the innovation-based economy development, as "innovation", "innovative product", and "value" are not sufficiently studied. Intensive discussions are taking place in the scientific community regarding what an innovative product is and how its value is formed. A specific result of intellectual activity, at the initial stage of its formation represents an idea that is difficult to be estimated. Originality/Value: The problematics for further research of value formation of innovative products depending on their specific nature is put.The article was prepared in the course of carrying out research work within the framework of the project part of the state task in the field of scientific activity in accordance with the task No. 26.2758.2017 / PCh (26.2758.2017 / 4.6) for 2017-2019 on the topic "System for the formation and distribution analysis of the value of innovative products based on the infrastructure concept".peer-reviewe

Financial Market in the Period of the Pandemic: Trends and Forecasts

The modern world at the end of 2019 faced an unprecedented shock-the coronavirus pandemic, which affected all spheres of society and the world economy. The global financial market, which has been significantly affected by the pandemic, is no exception. Many scientists and financiers around the world compare the current situation with the great depression and the consequences of World War II. The world is just beginning to calculate the real losses from the coronavirus epidemic. Most national economies forecast a severe recession in 2020, with global losses of about 3%. With a decrease in macroeconomic indicators, the stock market during the active phase of the pandemic shows growth. The specificity of stock markets is that they are not a mirror image of the state of the economy: index peaks usually occur just before the start of a recession, and index growth is usually an advance process that begins before economic growth begins. The article raises topical issues of COVID-19’s influence on global financial markets. The aim of this article is to review the dynamics of the main stock market indices, determine the reasons for the deterioration of economic development with the application of the world’s best management practices, and evaluate the measures of financial regulators for the growth of the financial market. The methodological tools of this research are General and particular research methods, methods and tools for graphical interpretation, comparative analysis, and related changes. The article gives a theoretical overview of the research of the problem, retrospective analysis of the impact of a pandemic on financial markets, examines the major stock market indices and forecasts for the global economy, the monetary actions of Central banks to stabilize the economic situation

Resilience of the Russian financial system under external shocks

The situation in the world financial market has formed under the influence of various challenges and threats, most of which could be predicted, or at least remotely forecasted. At the same time, the ubiquitous spread of COVID-19 and the extremely adverse negative consequences of the pandemic came as a real shock to the global and domestic financial systems. The article examines the factors and principles of the resilience of the Russian financial system, identifies the reasons for the emergence of global and internal economic crises, discloses government measures to maintain global financial resilience, and analyzes the set of measures taken by the Government of the Russian Federation to support the economy and financial system in the context of the COVID-19 pandemic. The objective of the research is to consider the factors of resilience of the Russian financial system under external shocks and to assess the measures taken by financial regulators in connection with the COVID-19 pandemic to ensure the growth of the global financial system. General and specific research methods, methods and tools of graphic interpretation, comparative analysis, and accompanying changes are used as methodological tools for this study

Models of tax relations: improving the tax culture and discipline of taxpayers in the interests of sustainable development

Modern globalization and global integration increase the importance of social processes in the economy, while the human factor plays a significant role in all spheres. Sustainable development in general and certain areas of life, including tax relations, are no exception. Taxes are a socially necessary phenomenon, the basis of the financial mechanism for sustainable development, and are the most important basic regulator of social progress. Through taxes, a social balance is achieved between public, corporate, and personal economic interests. The article examines the existing models of tax relations (characterizing the interaction of the state and taxpayers from the point of view of the principles of force, law and partnership), the possibility of their successful implementation and improvement. The current model of tax relations in the state entails appropriate tax behavior on the part of taxpayers and tax authorities. Tax behavior models are based on a certain level of tax culture and morality, which is formed under the influence of a number of objective and subjective factors. Tax culture, tax behavior and discipline, the process of interaction between the state and taxpayers (the level of development of tax relations) and determine the degree of protection of national interests and sustainable development