Blockchain as a Promising Technology for International Settlements (on the Example of the Russian Economy)

Purpose: Development and testing of methodological approaches to the empirical assessment of a possible increase in GDP in the case of simulating the transition of cross-border payments to the blockchain environment using the example of the national economy of the Russian Federation.   Theoretical framework: In modern scientific literature, much attention is paid to questions about the prospects for the transition of financial transactions to the blockchain (Adrian T. et al., 2018; Allen D. et al., 2019; Boar C. et al., 2020; Kochergin D., 2021; Nazarenko Y., 2018 and others.). However, it should be argued that the methodological base justifying the macroeconomic efficiency of such decisions has not been formed in a holistic way. In this regard, this study is an attempt to develop theoretical and methodological tools that substantiate the feasibility of creating blockchain platforms for transnational payments.   Design/Methodology/Approach: Using the national economy of Russia as an example, we conducted an empirical assessment of the potential increase in gross domestic product (GDP) by simulating transitioning cross-border payments into a blockchain ecosystem.   Findings: It was determined that the potential cumulative macroeconomic effect (i.e., GDP growth) may reach 4.0% per year, corresponding to 6.05 trillion rubles ($75.6 billion US dollars).   Research, Practical & Social implications: We propose a future research agenda and highlight the contribution of blockchain to FinTech development.   Originality/Value: Estimates demonstrate the prospects of blockchain application in transnational payments and highlight their potential use for mitigating risks associated with increasing sanction pressure, including restrictions on access to international clearing services and payment systems (SWIFT, etc.)

THE FOURTH INDUSTRIAL REVOLUTION IN RUSSIAN FEDERATION: ASSESSMENT OF PROSPECTS ON THE BASIS OF LONG-TERM CYCLE CREATION OF THE ADVANCING DEVELOPMENT

Abstract. The subject of the study is the mechanisms for long-term economic cycles of advanceddevelopment, forming views and predictive assessments concerning the prospects and the horizons of the phase shifts of future economic system. The object of the study is the evolution of the national economy in the context of long-term economic cycle modeling. The authors, using the mechanisms of long-term expectations modeling from economic agents during the period from 1962 to 2000, reveal the trajectories of phase shifts in Russian economy. This made it possible not only to identify the nature of national economy cyclical development during the considered period, but also to justify scientifically the prospects and the parameters of so-called fourth industrial revolution coming to Russian Federation. The methodology of the study is based on the tools of economic and mathematical modeling of the studiedset of factors, the mechanisms of cross-correlation analysis of time statistic series, generalization and grouping methods and factor analysis. It was proved on the basis of the developed methodology of advanced development cycle creation and its approbation on the system of national economy statistical data over the last 60 years, that the socio-economic crisis of the 1990=ies in the economic system was conditioned not only by the institutional changes that have taken place, but also to the fact that during this period the long-term economic cycle entered the phase of decline, which was transforming into a revival phase at the turn of the late 2000s and early 2010s, that allows us to fully justify theconclusion that the phase of long-term growth in Russian economy will come no earlier than in 2020-2025.Keywords: long-term economic cycles, the fourth industrial revolution, technological paradigms, nationaleconomy, phase shifts, advanced development cycles, economic agents' expectations, forecasting, modeling, cross-correlation analysis

Economic Growth and Stimulating Private Business Investment in Infrastructure by Assessing Its Need

Global statistics indicate increasing in private investors’ activity. Instead of the debate about the growing infrastructure needs and adequacy of funding to meet, the more urgent is the search for more effective mechanisms to attract investment in infrastructure assets. The chief objective of the study is to analyze the demand for infrastructure services to ensure the activities of organizations forming the priority clusters in the region, made for orientation on the existing industry need in the infrastructure support plans formation, concerning the construction financing of transport and other Infrastructure on a parity basis for economic growth. It is determined that the quality of transport connections play a vital role. It was established, that in all studied clusters, there is a tendency to increase transport services demand. Given the results, the petrochemical cluster enterprisestrochemical cluster is ready to finance transport infrastructure from the profits (perhaps on a matching base state) to remove the constraints of its industrial growth. For marginal assessment of investments into the development of a transport complex efficiency, the regression model "investments - profit" is received. It is suggested that with the growth of the industry, its profit is increasing at a rapid pace, each additional ruble of investment brings higher returns

Factor Analysis of the Influence of supply chain management on the Economic Dynamics of the Region

Abstract— The main goal of the study is to develop methodological approaches to a formalized assessment of the impact of supply chain management and its individual components on the development parameters of key macroeconomic indicators of a region (for example, investment in fixed assets). Testing the proposed research algorithms made it possible to substantiate a high level of reputation significance in the formation of regional economic growth. The implemented factor analysis provided an identification of the impact of the individual sub-indices under consideration, which form the integral value of the region’s supply chain management, on investment activation processes. The Republic of Tatarstan acts as an object of the study. The subject of the research is a methodological toolkit for conducting factor analysis and assessing the impact of the region's reputation on the parameters and dynamics of investment processes. A key feature of the study is the proposed version of constructing a series of regression equations, where the region’s supply chain management index is one of the exogenous parameters. The use of elimination methods has allowed the formation of a factor analysis focused on the impact of the individual components of the index under study on investment processes. On the basis of the developed methodology for the formalized assessment of the region’s supply chain management, the authors have built models that assess the level of influence of sub-indices that form the basis for an integrated assessment of the territory’s reputation on investment dynamics. It is advisable to use the developed methodological approaches when developing new models of economic growth under conditions of increased importance and the role of intangible production factors. According to the results of the study, the influence of each of the sub-indices under consideration on the dynamics of investment in fixed assets of the region was established, which made it possible to justify and formulate measures of state influence on the corresponding functional directions of the regional socio-economic system

THE WAYS AND MODELS OF HIGHER EDUCATION DEVELOPMENT

O artigo é dedicado ao estudo das características e perspectivas de desenvolvimento do sistema de ensino superior, tanto na arena global quanto na Rússia. Os resultados do estudo são baseados nas opiniões de especialistas e profissionais estrangeiros e russos da esfera da educação. As pesquisas foram divididas nos principais blocos, como as tendências no desenvolvimento do sistema de ensino superior no mundo e na Rússia; o sistema de ensino superior na Rússia e sua transformação em novas realidades econômicas e sociais; o sistema internacional de avaliação de universidades e suas perspectivas na Federação Russa; as formas de desenvolvimento das universidades russas no mundo digital moderno. São apresentadas as opiniões de especialistas sobre o conceito de modelo de referência universitário.    El artículo está dedicado al estudio de las características y perspectivas de desarrollo del sistema de educación superior, tanto en el ámbito mundial como en Rusia. Los resultados del estudio se basan en las opiniones de expertos y profesionales extranjeros y rusos del ámbito de la educación. Las encuestas se dividieron en los bloques principales, como las tendencias en el desarrollo del sistema de educación superior en el mundo y en Rusia; el sistema de educación superior en Rusia y su transformación en nuevas realidades económicas y sociales; el sistema internacional para la evaluación de universidades y sus perspectivas en la Federación de Rusia; Las formas de desarrollo de las universidades rusas en el mundo digital moderno. Se presentan las opiniones de expertos sobre el concepto de modelo de referencia universitaria.The article is devoted to the study of the features and prospects of development of the system of higher education, both in the global arena and in Russia. The results of the study are based on the opinions of foreign and Russian experts and practitioners from the sphere of education. The surveys were divided into the main blocks, such as the trends in development of higher education system in the world and in Russia; the system of higher education in Russia and its transformation in new economic and social realities; the international system for the assessment of universities, and its prospects in the Russian Federation; the ways of development of Russian universities in the modern digital world. The opinions of experts on the concept of university reference model are presented

Market Integration Assessment a Block Chain of Technologies in Regional Economic Systems in Comparison to the Global Supply Chain Management (On the Example of Regions of the Volga Federal District)

The article discloses methodological approaches to quantifying the level of penetration of block chain technologies into the regional socio-economic environment in comparison to the supply chain strategies. Based on the methods of mathematical and statistical analysis, it allows you to formalize and convert a large array of data of a qualitative order into a single scale for measuring the process under study - the level of demand in the regional socio-economic environment for block chain technology. The developed methodology is based on the theory of reputational economics, which allows, based on a system analysis of the global information space, to identify the level of demand for the research object in regional markets. Based on the collected and processed array of information and statistical data, the work carried out estimates of the index of reputation capital in the field of block chain technologies in the regions of the Volga Federal District for the period from 2010 to 2018. Based on the presented calculation data, a scientifically-based conclusion was obtained, according to which the regional “block chain†processes are beginning to take over the regional space of Russia more and more every year. Moreover, undoubtedly, as well as for any other phenomenon, this process is very differentiated in terms of penetration into the regional environment. In accordance with the estimates obtained, the regions with the highest level of demand for block chain technology and the outsider regions were identified. The implemented algorithm for the formalized assessment of the penetration of distributed data storage technologies into the regional environment creates the basis for a comparative analysis of the development efficiency of regions, determining their current and future competitiveness in the context of globalization and digitalization of reproduction processes

The Influence of Supply Chain Management on the Economic Dynamics of the Region in Comparison with Traditional Factors

Abstract— The paper substantiates the need to study issues that discover the features of the influence of region’s supply chain management on its macroeconomic dynamics through the prism of economic and mathematical analysis. This will allow us to form a new vector for constructing models of economic growth and to localize an inclination of applying qualitative methods of analysis in this area of research towards quantitative approaches to the analysed processes and phenomena. In this regard, the main goal of this work is to develop methodological tools to assess the impact of supply chain management on the dynamics of regional economic growth, as well as to form mechanisms for a comparative analysis of the influence of the region’s reputation with traditional factors that activate macroeconomic generation. The Republic of Tatarstan acts as an object of study. The subject of the study is a methodological toolkit for assessing the impact of a region’s reputation on the parameters and dynamics of investment processes. A key feature of the study is the proposed version of the comparative analysis of traditional and non-traditional factors (the latter include supply chain management in this work) that trigger mechanisms of investment growth in the regional economic system. On the basis of the developed methodology for the formalized assessment of the region’s supply chain management, the authors have constructed models that evaluate the level of the comparative impact of reputation on the processes of generating investments in fixed assets. It is advisable to use the developed methodological approaches when developing new models of economic growth under conditions of increased importance and the role of intangible production factors. According to the results of the study, we have proved that the region’s supply chain management plays one of the leading roles along with traditional basic factors that trigger the mechanisms of intensification of investment activity. Moreover, as the calculations show, the importance of reputation for the matter of activating investment processes is even slightly more noticeable than such an important indicator as the “Balanced financial result of economic entities”.

An Empirical Assessment of the Impact of Blockchain Technologies on the Effectiveness of the Supply Chain Development

Abstract—The purpose of this paper is to review the existing literature on blockchain technology, present some trends and consider its potential value in supply chain management (SCM) of market. In modern economic conditions, the financial market integrated into the global economy is of fundamental importance for the development of the national economic system. In order to maintain and develop economy, the financial sector is constantly looking for ways to optimize its business processes and operations. Today, blockchain technology is considered by many participants in the financial market as a tool that forms the innovative potential of the industry providing a number of additional effects. It should be noted that despite the very high interest on the part of international and national financial institutions, enterprises of the real sector of the economy in the distributed data storage technology, studies on the problems of assessing the use of the potential of blockchain platforms in the socioeconomic environment, their theoretical understanding is not often demonstrated. Existing works, as a rule, reveal either the technical side of the object under study, or the regulatory or legal aspects of the applicability of blockchain technologies in the national economy. In this regard, this work attempts to overcome this conditional vacuum of understanding in order to make up for conditions with questions revealing other aspects of the subject of research, for example, such as the economic and social effects of introducing blockchain technologies into the activities of business entities. A formalized assessment of the development prospects of the banking sector in the new institutional economic environment is carried out on the basis of the assessment of the emerging effects caused by the integration of distributed data storage technologies into the system of operational processes in credit institution

THE FORMALIZED ASSESSMENT OF EFFICIENCY OF THE REGIONAL HIGHER SCHOOL THROUGH THE PRISM OF THE RATIO OF ENTRANCE AND OUTPUT STREAM SIZES

En el contexto de la globalización, aumenta el crecimiento del entorno competitivo a nivel nacional e interregional en el campo del desarrollo de la innovación, el papel de la educación superior como la principal fuente de recursos humanos y la formación del entorno de innovación. El bajo nivel de desarrollo de la educación superior priva a la región de una cierta independencia, colocándola en una dependencia adicional de otros sistemas: regional, nacional, económico, etc. En este sentido, el estudio de las tendencias en el desarrollo de la educación superior en el interregional level es una tarea extremadamente urgente, cuya solución proporcionará un proceso de monitoreo y pronóstico de las perspectivas para el desarrollo de sistemas socioeconómicos a mediano y largo plazo. Al mismo tiempo, a pesar de una amplia gama de trabajos científicos dedicados al problema, todavía no hay unidad en el espacio científico en la esfera de la evaluación formal de la efectividad del desarrollo de los sistemas regionales de educación superior. En este sentido, este estudio propone enfoques dirigidos al apoyo metodológico para resolver el problema. La característica principal del trabajo es el uso de métodos de comparación de valores de flujo de entrada y salida, que caracterizan los parámetros de la escuela superior regional. Utilizando los enfoques de racionamiento de los indicadores analizados y el desarrollo posterior sobre la base de los índices de eficiencia, se llevan a cabo cálculos multicomponentes, evaluando los indicadores, caracterizando el rendimiento del capital invertido de los sistemas regionales de educación superior en forma de una evaluación integrada de su efectividad por 1 rublo de costos financieros. Como resultado de las evaluaciones implementadas, se identifican las regiones del distrito Volga Federal, caracterizadas por posiciones moderadas y fuertes en el campo de la generación de efectos, caracterizando su efectividad en comparación con los recursos financieros invertidos.No contexto da globalização, aumenta o crescimento do ambiente competitivo nos níveis nacional inter-regional no campo do desenvolvimento da inovação, o papel do ensino superior como principal fonte de recursos humanos e a formação do ambiente de inovação. O baixo nível de desenvolvimento do ensino superior priva a região de uma certa independência, colocando-a em dependência adicional de outros sistemas - regional, nacional, econômico etc. A esse respeito, o estudo de tendências no desenvolvimento do ensino superior no nível inter-regional O nível é uma tarefa extremamente urgente, cuja solução proporcionará um processo de monitoramento e previsão das perspectivas para o desenvolvimento de sistemas socioeconômicos a médio e longo prazo.Ao mesmo tempo, apesar de uma ampla gama de trabalhos científicos dedicados ao problema, ainda não há unidade no espaço científico na esfera da avaliação formal da efetividade do desenvolvimento dos sistemas regionais de ensino superior. Nesse sentido, este estudo propõe abordagens voltadas ao suporte metodológico da solução do problema. A principal característica do trabalho é o uso de métodos de comparação dos valores dos fluxos de entrada e saída, caracterizando os parâmetros do ensino superior regional. Utilizando as abordagens de racionamento dos indicadores analisados e o subsequente desenvolvimento com base nos índices de eficiência, são realizados cálculos multicomponentes, avaliando os indicadores, caracterizando o retorno sobre o capital investido dos sistemas regionais de ensino superior na forma de uma avaliação integrada de sua eficácia por 1 rublo de custos financeiros. Como resultado das avaliações implementadas, são identificadas as regiões do distrito Federal do Volga, caracterizadas por posições moderadas e fortes no campo de geração de efeitos, caracterizando sua efetividade em comparação aos recursos financeiros investidos.In the context of globalization, the growth of the competitive environment at the interregional, national levels in the field of innovation development, the role of higher education as the main source of human resources and the formation of the innovation environment increases. The low level of development of higher education deprives the region of a certain independence, placing it in additional dependence on other systems - regional, national, economic, etc. In this regard, the study of trends in the development of higher education at the interregional level is an extremely urgent task, the solution of which will provide a process of monitoring and forecasting the prospects for the development of socio-economic systems in the medium and long term. At the same time, despite a wide range of scientific works devoted to the problem, there is still no unity in the scientific space in the sphere of formal evaluation of the effectiveness of the development of regional higher education systems. In this regard, this study proposes approaches aimed at methodological support of solving the problem. The main feature of the work is the use of methods of comparison of input and output stream values, characterizing the parameters of the regional higher school. Using the approaches of rationing of the analyzed indicators and the subsequent development on this basis of the efficiency indices, multicomponent calculations are carried out, evaluating the indicators, characterizing the return on invested capital of regional higher education systems in the form of an integrated assessment of their effectiveness per 1 ruble of financial costs. As a result of the implemented assessments, the regions of the Volga Federal district are identified, characterized by moderate and strong positions in the field of generating effects, characterizing their effectiveness in comparison with the invested financial resources. &nbsp