On the Target Orientation of a Regional Strategy for Socio-Economic Development

DOI: 10.33917/es-8.166.2019.6-15

When you get acquainted with regional strategies, you see that their authors usually try to formulate several tasks that cover
all aspects of society. For example, increasing the region’s competitiveness or raising the level of culture, etc. Thus, attention is focused on a number of tasks that are actually subordinate to these two main tasks mentioned above. Each strategy is always focused on improving the living standards of the region’s population. But almost never we see inside the
strategy specific tasks to increase this region’s contribution to socio-economic development of the country. This contribution
doesn’t mean an increase in the specific gravity of the region, for example, in creating the country’s gross domestic product,
but usually it is much higher due to those industries and areas of specialization in which the region plays a major role.
Many consider it extremely important that each of these tasks, which they list in the usual regional strategy, be divided into
subtasks, and those, in turn, into smaller tasks. As a result, several dozen tasks of the region are formulated, which are usually not specifically applied to any large enterprise or organization of this region, but to the activity direction. For example, the task of developing physical education or improving the population’s nutrition, etc. is highlighted.
Such approach in terms of system analysis seems to be very important, but in fact it is quite formal. And this formality tends
to obscure analytics — the main method necessary for serious strategy development. Based on considerable experience in developing strategy of the Russian regions — Vladimir, Kostroma, Irkutsk regions and the Trans-Baikal Territory, St. Petersburg, as well as regional strategies for Kazakhstan — for the Kyzylorda region and the capital Akmola region, the author of the article proposes a methodology for developing the region’s strategy taking into account its contribution into the country’s socio-economic development

In Expectation of Investment Growth

DOI: 10.33917/es-8.166.2019.16-23

At the present moment Russia faces the problem of increasing the economic growth rates to the average world rates. As the country economy was in crisis and post-crises conditions for several years, so the effective measures should be taken in all economic fields. Here, the question of investment activity comes to the fore. In spite of the fastening in economic growth as of 2018 according to the official data, investments in Russia in conditions of a high external and internal uncertainty have not yet recovered to pre-crisis level. The article raises the issue about necessity of creation a conductive investment environment, special measures and programmes orientated on the local and foreign investors which can help to increase the investments volume and quality and to promote Russia’s economic growth

Contemporary Approaches to Economic Stimulation Using Financial Instruments

DOI: 10.33917/es-8.166.2019.24-29

The Russian economy needs in adequate financial policy in the environment when other countries use actively financial stimulation measures, among which are protectionist measures, aimed at the growth of activity and defend of national economy. Contemporary financial protectionist measures often are not subject of international conventions that increase international trade and capital flow transparency. Countries use non-market mechanisms to support their national business in the competitive environment. Such mechanisms entail risks and opportunities for countries, as well as for business (large business in the first place). It’s necessary for Russian regulators to consider thoroughly approaches of other countries and broaden instruments they use

Current Trends in Regulating Activities of the Audit Market Entities

DOI: 10.33917/es-8.166.2019.30-37

The article dwells on the current trends in regulating activities of the audit market entities, resulting from peculiarities of the current stage in development of the audit services market in Russia. The subjects of audit activity are auditors and audit organizations, in particular, companies providing audit services to socially significant economic entities: credit and insurance organizations, non-state pension funds, state-owned companies, state-owned corporations, organizations with a state ownership share of over 25%, as well as companies disclosing their consolidated financial statements. Among the main dysfunctions of the audit services market, that influence the regulation of audit entities, the author underlines less attractiveness of the audit profession for young professionals, an annual decrease in the number of auditors and audit organizations, uneven distribution of the number of clients and revenues in the audit market and prices dumping for audit services. Based on the analysis results, the author suggests ways for improving the audit regulation in Russia, paying special attention to the need for greater interaction of audit regulatory entities — the state and self-regulatory organizations of auditors

Socio-Economic Development of Russia in 2019: Recession Threat Remains

DOI: 10.33917/es-8.166.2019.38-43

Changing of a conjuncture index of “Economic strategy” (CIES) for the first nine months of 2019 is considered. The contribution of indicators of supply and demand in CIES is estimated. The results of the analysis and forecasting of the dynamics of macroeconomic indicators are presented

Stagnation: For How Long?

DOI: 10.33917/es-6.164.2019.90-95

Changing of a conjuncture index of “Economic strategy” (CIES) for the first half of 2019 is considered. The contribution of indicators of supply and demand in CIES is estimated. The analysis of industrial production is carried out

Machining Production of Russia: Structure of Innovations and Export Strategy and Replacement of Import of Machines

DOI: 10.33917/es-6.164.2019.78-89

The purpose of the study is to assess the dynamics of the manufacturing industries in Russia. According to the “structural formula”, the contribution of innovations in various types of activities to the overall dynamics of innovations in manufacturing industries is assessed, which makes it possible to identify the dominant innovations in economic sectors. This approach is useful in order to differentiate the methods of industrial (sectoral) policy, including national projects as an institutional tool for managing the development of the Russian economy, since it identifies those areas that require special incentives for the innovation process. The structure of innovation is heterogeneous, the contribution by different types of activity varies significantly, which indicates the instability of the process of innovative development. Two strategies are considered for the functioning of processing industries: the export of machinery and the substitution of machinery imports. It is shown that these strategies can not be reduced to one another, except for special cases and suggest different possibilities. The parameter of structural independence for the Russian engineering industry has steadily decreased and its dynamics has been stabilized at low values, as shown by the method of phase portraits of the change in this indicator. This suggests that the domestic economy and engineering remain highly dependent on imports of machinery, equipment and technology, and leads to the conclusion that the import substitution policy is not, firstly, sufficient, and secondly, structural internal changes are required in the economy, so that import substitution and the development of export manufacturing industries give a positive systemic result. On the basis of quantitative assessments, a fundamental conclusion was obtained that the import substitution policy itself will certainly not have a high performance (locally limited effect), which it could potentially have when the internal flow of resources changes towards the processing sectors

Alpha Business in the Russian Food Market

DOI: 10.33917/es-6.164.2019.68-77

The example of the food sector shows that concentration trends in Russian business have led to its stratification into three levels with different institutional conditions and the dominance of the upper levels (alpha business) over the lower one (beta and gamma business). The features of the Russian alpha business against the background of a similar world hierarchy, the logic of its transformation and interaction with the government are analyzed. The requirements for the country development strategy based on the functional balance of the different levels of business are determined

Corporate Transparency Rating of the Largest Russian Companies for July-August 2019: Regular Bulletin

DOI: 10.33917/es-5.163.2019.108-113

Corporate transparency research is being conducted by the Russian Regional Integrated Reporting Network (RRS) since 2013 and is a public initiative of the professional community. The research objectives include: forming an idea of the state and dynamics of corporate transparency of the largest Russian companies, identifying best practices of corporate transparency, such as disclosing information through public reporting mechanisms, compiling a rating and sub-ratings of corporate transparency. More detailed information on the methodology is presented in the Regulation on the study “Corporate transparency of the largest Russian companies” [1].

Modern Problems of Managing International Reserves in Russia

DOI: 10.33917/es-5.163.2019.100-107

Significant volumes of the gold and foreign exchange reserves determines the high importance of taking well-based decisions in the process of managing reserves. While maintaining the overall set-up for implementing conservative strategy of reserves management, investing part of the funds in more risky financial instruments may increase profitability without risking macroeconomic stability and loss of reserves