The "Economic Strategies" journal


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

Potential of Common Markets of the EAEU Energy Resources. Expectations and Challenges

On October 15, 2019, the President Hotel Hotel in Moscow hosted the Integration Eurasian Industrial Congress, a new international discussion platform for discussing current problems and prospects of industrial cooperation in the EAEU and the movement of industrial goods on the EAEU common market, as well as developing effective tools for the goal of effective integration and development of interaction of entrepreneurs in the EAEU and friendly countries. The keynote address was delivered by the Deputy Minister of Energy of the Republic of Belarus Vadim Zakrevsky, telling the participants of the Congress about the challenges that have emerged today in the field of creating electric and gas markets

Five Years of Eurasian Integration: Statistical Analysis of Key Economic Results

DOI: 10.33917/es-8.166.2019.48-57

Over 5 years after the signing of the Treaty on the Eurasian Economic Union, the experience of the integration process has been accumulated, its pros and cons, potential and obstacles for a new stage in the development of the EAEU have been identified. The accuracy of estimates of the 5-year integration dynamics affects the effectiveness of decisions on further integration. A complete, reliable, qualitative statistical assessment of the economic condition of the Union is a necessary basis for the successful dynamics of the Union at a new stage

Actual Issues of Economic Policy in the European Union

DOI: 10.33917/es-8.166.2019.58-65

Today, the European Union (EU) is facing many challenges in the economic and financial sphere. Europeans are becoming less gullible with EU institutions and less tolerant of supranational interference in domestic politics. As a result, the process of European integration is gradually being modified. It was assumed that the process of economic integration, making Europeans more interdependent, should also lead to cultural assimilation and deeper political integration. Was the project too ambitious, given that Europeans are sufficiently heterogeneous in their economic interests, beliefs and sociocultural values to form a successful political union? Or are current difficulties a consequence of the inefficiency of supranational institutions? And how has the process of European economic integration affected cultural assimilation? All of these issues are becoming increasingly relevant as European integration develops

Foreign Trade and Investments as Political Development Factors (on the Example of the Western Balkans)

DOI: 10.33917/es-8.166.2019.66-75

The article presents analysis of the dynamics and structure of foreign economic relations of the Western Balkans countries, considers the specifics of foreign infrastructure investment projects, evaluates the importance of foreign economic relations for socio-political institutions. Scientific novelty of the study is determined by application of least squares methods and gravitational modelling. To identify factors determining the vector of economic cooperation, the authors have analyzed macroeconomic data, as well as the trade flows dynamics: gravitational model of foreign trade was taken as the basis. The authors assume that many problems of the modern socio-economic and political development of the region stem from its past, namely from reproduction of both individual elements and the system characteristics of historical models. In particular, the analysis confirmed historical dependence of the political and economic development of the Western Balkans on external players. Historical determinism of the foreign policy course (identified through institutional analysis) coexists with economic factors arising the incentives of neoclassical economic theory