The "Economic Strategies" journal

#3. On the Rails of Improbability




Prospects and Risks of Using the Central Bank Digital Currency. Consequences for the Monetary System

DOI: 10.33917/es-3.201.2025.92-97

The article explores digital money characteristics of both central bank and private sector in both advanced and emerging market economies. Newly emerging forms of the private sector electronic money (digital coins, or so-called cryptoassets), such as Bitcoin, have drawn much attention because the underlying distributed ledger technology used therein enables decentralized verification while maintaining cash-like functions.

Meanwhile, some central banks have explored potential application of the distributed ledger technology and issuing their own digital coins for general public or financial institutions – so-called the central bank digital currency initiatives. Over the past 12 months, central bank digital currencies (CBDCs) have transformed from a distant concept into the core of the global economic policy agenda. Debates on CBDC have progressed towards adopting CBDC and its implications for the financial system. Such innovations evidently have serious consequences for the monetary system at both national and global levels.

References:

1. Central bank digital currencies: system design and interoperability. BIS, available at: https://www.bis.org/publ/othp42_system_design.pdf

2. Gross J., Schiller J. A model for central bank digital currencies: Do CBDCs disrupt the financial sector? SSRN Electronic Journal, 2020.

3. Schilling L. Risks Involved with CBDCs: On Cash, Privacy, and Information Centralization, 2019, available at: https://papers.ssrn.com/sol3/papers. cfm?abstract_id=3479035

4. Tercero-Lucas D. Central Bank Digital Currencies and Financial Stability in a Modern Monetary System, 2022.

5. Davoodalhosseini S. Central Bank Digital Currency and Monetary Policy. Journal of Economic Dynamics and Control, 2021, 142, 104150. 10.1016/j. jedc.2021.104150

6. Náñez A., Jorge-Vázquez J., Forradellas R. Central Banks Digital Currency: Detection of Optimal Countries for the Implementation of a CBDC and the Implication for Payment Industry Open Innovation. Journal of Open Innovation Technology Market and Complexity, 2021. 7. 10.3390/joitmc7010072

7. Fernandez-Villaverde J., Sanches D., Schilling L., Uhlig H. Central bank digital currency: Central banking for all? Review of Economic Dynamics, 2020, 41. 10.1016/j.red.2020.12.004

8. Andolfatto D. Assessing the Impact of Central Bank Digital Currency on Private Banks. The Economic Journal, 2020, 131. 10.1093/ej/ueaa073

9. Auer R., Cornelli G., Frost J. Rise of the Central Bank Digital Currencies: Drivers, Approaches and Technologies. SSRN Electronic Journal, 2020, 10.2139/ ssrn.3724070

10. Bindseil U. Tiered CBDC and the Financial System. SSRN Electronic Journal, 2020, 10.2139/ssrn.3513422

Digital Twin of an Enterprise: Business Capability Maps and Artificial Intelligence in Managing Multi-Industry Ecosystems

DOI: 10.33917/es-3.201.2025.98-101

The article examines the concept of an enterprise digital twin (EDT) as an organizational and managerial mechanism based on business capabilities. Business capability is a holistic system for carrying out a specific type of activity, whose behaviour is strategically predetermined in a unique and unambiguous way within an ecosystem and its implementation is variable, including processes, organization and all types of resources. The author proposes a methodology for forming a business capability map using a federalistic approach to integrating data and artificial intelligence (AI) technologies, which ensures high adaptability and ecosystems transparency. Based on theoretical analysis and testing in real companies, practical significance of EDT for vertical and horizontal integration of corporations and, accordingly, management of multi-industry ecosystems is shown.

References:

1. Grieves M. Digital Twin: Manufacturing Excellence through Virtual Factory Replication. 2014.

2. Tao F., Zhang H., Liu A., Nee A.Y.C. Digital Twin in Industry: State-of-the-Art. 2019.

3. Ulrich D., Smallwood N. Capitalizing on Capabilities. Harvard Business Review, 2004.

4. Ross J.W., Weill P., Robertson D. Enterprise Architecture as Strategy: Creating a Foundation for Business Execution. 2006.

5. Kairouz P., McMahan H.B., Avent B., Bellet A., Bennis M., Bhagoji A.N., et al. Advances and Open Problems in Federated Learning. 2021.

Procedural and Legal Aspects of the Election Campaign in the Russian Academy of Sciences: Criteria for Contribution to Science

DOI: 10.33917/es-3.201.2025.110-115

The author continues to examine the procedural aspects of the campaign. The article highlights the election organizers’ compliance with democratic procedures and the constitutional principle of equality of candidates for the RAS membership. To assess the value of an applicant, criteria related to his contribution into science are proposed.

References:

1. Grazhdanskiy kodeks Rossiyskoy Federatsii (chast’ pervaya) ot 30 noyabrya 1994 g. N 51-FZ [Civil Code of the Russian Federation (part one) of November 30, 1994 No. 51-FZ]. Sobranie zakonodatel’stva RF, 1994, no 32.

2. Postanovlenie Konstitutsionnogo suda RF ot 22 iyulya 2002 g. N 14-P [Resolution of the Constitutional Court of the Russian Federation of July 22, 2002 No. 14-P]. Vestnik Konstitutsionnogo suda RF, 2002, no 6.

3. Postanovlenie Pravitel’stva RF ot 27 iyunya 2014 g. N 589 “Ob utverzhdenii ustava federal’nogo gosudarstvennogo byudzhetnogo uchrezhdeniya “Rossiyskaya akademiya nauk” [Resolution of the Government of the Russian Federation of June 27, 2014 No. 589 “On approval of the charter of the federal state budgetary institution “Russian Academy of Sciences”]. Sobranie zakonodatel’stva RF, 2014, no 27.

4. Vybory-2025 [Elections’2025]. Rossiyskaya akademiya nauk, available at: https://www.ras.ru/news/shownews.aspx?id=10609fec-c5ec-44b2-aa4a- 7a8a689f2c6e

5. Postanovlenie Plenuma Verkhovnogo suda RF ot 23 iyunya 2015 g. N 25 “O primenenii sudami nekotorykh polozheniy razdela I chasti pervoy Grazhdanskogo kodeksa Rossiyskoy Federatsii” [Resolution of the Plenum of the Supreme Court of the Russian Federation of June 23, 2015 No. 25 “On the application by courts of certain provisions of Section I of Part One of the Civil Code of the Russian Federation”]. Byulleten’ Verkhovnogo suda RF, 2015, no 8.

6. Federal’nyy zakon ot 12 yanvarya 1996 g. N 7-FZ “O nekommercheskikh organizatsiyakh” [Federal Law of January 12, 1996 No. 7-FZ “On Non- Commercial Organizations”]. Sobranie zakonodatel’stva RF, 1996, no 3.

7. Federal’nyy zakon ot 27 sentyabrya 2013 g. N 253-FZ “O Rossiyskoy akademii nauk, reorganizatsii gosudarstvennykh akademiy nauk i vnesenii izmeneniy v otdel’nye zakonodatel’nye akty Rossiyskoy Federatsii” [Federal Law of September 27, 2013 No. 253-FZ “On the Russian Academy of Sciences, the reorganization of state academies of sciences and amendments to certain legislative acts of the Russian Federation”]. Sobranie zakonodatel’stva RF, 2013, no 39.

8. Postanovlenie Konstitutsionnogo suda RF ot 29 yanvarya 2018 g. N 5-P [Resolution of the Constitutional Court of the Russian Federation of January 29, 2018 No. 5-P]. Vestnik Konstitutsionnogo suda RF, 2018, no 3.

9. Sukharev O.S. Luchshe men’she da khuzhe. O vyborakh i problemakh RAN — 2025 [Better Less But Worse. About the Elections and Problems of the Russian Academy of Sciences — 2025]. YouTube, available at: https://www.youtube.com/watch?v=OytrdEvL_iQ

Technological Sovereignty — a Tool for Providing Sustainable Development of the Country

DOI: 10.33917/es-3.201.2025.6-13

The article dwells on the role of technological sovereignty in ensuring the country’s sustainable development. The authors examine the concept of technological sovereignty, its main components and its relationship with economic, social and environmental sustainability. Particular attention is paid to analysis of the key areas for strengthening technological sovereignty, including the development of a research base, stimulation of innovation, personnel training and government support. Examples of Russia and other countries show successful practices and challenges related to achieving technological independence. It is shown that technological sovereignty is a necessary condition for sustainable development, allowing to reduce dependence on external factors and ensure the country’s long-term innovative development. In conclusion, the authors put forward recommendations for forming a comprehensive strategy for technological development based on strengthening scientific potential and creating a favourable environment for innovation.

References: 

1. Razvitie ekonomicheskikh sistem: teoriya, metodologiya, praktika: Monografiya (nauchnoe izdanie) [Development of Economic Systems: Theory, Methodology, Practice: Monograph (Scientific Edition)]. FGAOU VO “Samarskiy natsional’nyy issledovatel’skiy universitet imeni akademika S.P. Koroleva, et al; pod. red. B.N. Gerasimova. Penza, PGAU, 2024, 275 p.

2. Trusina I., Ermolaeva E., Abramov V., Gopeenko V. Otsenka mirovogo razvitiya v invariantnoy sisteme koordinat energeticheskikh edinits: perspektivy novykh industrial’nykh ekonomik [Assessment of Global Development in an Invariant Coordinate System of Energy Units: Prospects for New Industrial Economies]. Zhurnal infrastruktury, politiki i razvitiya, 2024, no 8(1):3110, DOI: https://doi.org/10.24294/jipd.v8i1.3110

3. Afanas’ev A.A. Tekhnologicheskiy suverenitet kak nauchnaya kategoriya v sisteme sovremennogo znaniya [Technological Sovereignty as a Scientific Category in the System of Modern Knowledge]. Ekonomika, predprinimatel’stvo i pravo, 2022, vol. 12, no 9, pp. 2377–2394.

4. Kvint V.L., Novikova I.V., Alimuradov M.K., Sasaev N.I. Strategirovanie tekhnologicheskogo suvereniteta natsional’noy ekonomiki [Strategizing the Technological Sovereignty of the National Economy]. Upravlencheskoe konsul’tirovanie, 2022, no 9, pp. 57–67, DOI: 10.22394/1726-1139-2022-9-57-67

5. Baydarov D.Yu., Faykov D.Yu. Na puti k tekhnologicheskomu suverenitetu: teoreticheskie podkhody, praktika, predlozheniya [On the Way to Technological Sovereignty: Theoretical Approaches, Practice, Proposals]. Ekonomicheskoe vozrozhdenie Rossii, 2023, no 1, pp. 23–34.

6. Abramov V.I., Gavrilyuk A.V., Putilov A.V. Sravnenie podkhodov k obespecheniyu tekhnologicheskogo suvereniteta v raznykh stranakh: Trendy razvitiya sovremennogo obshchestva: upravlencheskie, pravovye, ekonomicheskie i sotsial’nye aspekty: Sb. nauchnykh statey 14-y Vserossiyskoy nauchnoprakticheskoy konferentsii [Comparison of Approaches to Ensuring Technological Sovereignty in Different Countries: Trends in the Development of Modern Society: Managerial, Legal, Economic and Social Aspects: Collection of scientific articles of the 14th All-Russian Scientific and Practical Conference]. Kursk, Universitetskaya kniga, 2024, pp. 15–21.

Methodological Model for Studying the Spanish Political Mentality

DOI: 10.33917/es-3.201.2025.14-21

Spanish political mentality is a historically determined, multidimensional and systemic result of a long multi-ethnic and transcivilizational process. To study it, a methodological concept of imprinting was used, which was firstly substantiated within the framework of the present study. The article formulates the concept of the imprinting-suggestion phenomenon, the basic structural elements of which are represented primarily by epochal political events, as well as great cultural figures and outstanding governors. Taking into account these invariant predictors, critical periods in the history of Spain that influenced the course of its political mentalization are discussed. Based on methodological potential of the imprinting concept, its root sources — romanization and christianization — are revealed. The article examines the evolution specifics of polymentality in Moorish Spain, emergence of Spanish Catholicism and significance of the Reconquista in forming the foundations of the Spanish mentality. These and other key moments in the history of the Kingdom of Spain from this perspective are still awaiting their researchers. The final section provides an analytical review of the philosophical and theological principles of the Spanish political mentality.

References: 

1. Abellan J.L. Los españoles vistos por si mismos. Madrid, 1977.

2. Rodríguez-San Pedro L.E. La Edad Moderna: Universidades de la Monarquía Católica. Plétora y diversidad. Universia. España: Universidades, 2013, available at: // https://es.scribd.com/document/358750879/Edad-Moderna-Universidades-Monarquia-Catolica-Pletora-Diversidad

3. Ajo G. y Sáinz de Zúñiga C.M. Historia de las Universidades Hispánicas: orígenes y desarrollo desde su aparición hasta nuestros días. Madrid: Centro de Estudios e Investigaciones “Alonso de Madrigal”, 1957–1979.

4. Francisco Díez de Velasco. Religiones en España. Historia y presente. Madrid — España, 2012.

5. Spain — UNESCO World Heritage Convention, available at: // https://whc.unesco.org/en/statesparties/es

6. Kaptereva T.P. Iskusstvo Ispanii. Srednie veka. Epokha Vozrozhdeniya [Art of Spain. Middle Ages. Renaissance]. Moscow, 1988, p. 248.

7. Tuñón de Lara М. El hecho religioso en España. 1968.

8. Elliot J.H. La España imperial, 1469–1716. Barcelona: Edotorial Vicens-Vives, 1987.

9. Fernandez Calzada M. Heterogeneous cultural-historical West: Spanish-Catholic civilization; Spanish America; China and the Spanish, the world’s first, globalization. Biocosmology — neo-aristotelism, vol. 14, no. 1&2, Winter/Spring, 2024, pp. 88–126.

10. Shaw D.L. La generación del 98. Madrid: Ediciones Cátedra, 1977.

11. Ortega y Gasset J. Ensayos sobre la “Generación del 98” y otros escritores españoles contemporáneos. Madrid, Alianza, 1981.

12. 11. Rakityanskiy N.M. Mental’nye issledovaniya global’nykh politicheskikh mirov [Mental Explorations of Global Political Worlds]. Moscow, Izd-vo Moskovskogo universiteta, 2020, pp. 22–30.