Pub Date : 2022-12-15DOI: 10.22363/2313-2329-2022-30-3-383-401
E. Mitrofanov, A. G. Kulagina, Tatyana V. Antipova, E. Solodova
The article is devoted to the analysis of existing domestic and foreign methods for assessing the probability of bankruptcy of organizations in the region. When assessing the financial stability of the entity’s enterprises, various methods are used to assess the financial stability of an organization, the most common approach of which is the coefficient method. However, methods that use factor analysis, which builds a linear dependence of indicators of the financial and economic condition of a regional subject, are gaining popularity. These models are also called bankruptcy prediction models. One of the most popular models is Altman’s five-factor forecasting model and the four-factor model for non-manufacturing organizations. Altman’s approach is simple and versatile. However, this Altman model does not take into account the individuality of the company. British scientists G. Tishaw and R. Taffler modernized Altman’s model. One of the first Russian models for predicting the bankruptcy of economic entities was developed by A.Yu. Davydova and A.Yu. Belikov. This model took into account the relationship between such factors as working and equity capital, assets, net profit, cost and revenue. The following model, showing the financial stability of an enterprise, was formulated by Savitskaya. From the analysis of existing methods and models for assessing the financial and economic condition of regional economic entities, it follows that it is advisable to build a model taking into account: firstly, the individual characteristics of a particular organization; secondly, the choice of indicators and their weighting coefficients in the model must be scientifically justified. Therefore, the paper proposes to determine the financial stability of an organization in the region to form a model that includes the most commonly used in practice, namely the above five models for assessing the probability of bankruptcy of enterprises. At the same time, the industry specifics of organizations were taken into account. The purpose of the study is to form a methodology for assessing the integral level of financial stability of organizations in the region and determining the possible boundaries of its variation. In the course of the study, such methods as comparative, component and factor analysis, experiment were used. The paper presents a methodology for the formation of a generalized factor model for assessing the level of financial condition of regional organizations. The critical values of the integral indicator characterizing the level of financial condition of organizations are also determined.
{"title":"Formation a methodology of integral assessment for regional economic entities’ level of financial stability","authors":"E. Mitrofanov, A. G. Kulagina, Tatyana V. Antipova, E. Solodova","doi":"10.22363/2313-2329-2022-30-3-383-401","DOIUrl":"https://doi.org/10.22363/2313-2329-2022-30-3-383-401","url":null,"abstract":"The article is devoted to the analysis of existing domestic and foreign methods for assessing the probability of bankruptcy of organizations in the region. When assessing the financial stability of the entity’s enterprises, various methods are used to assess the financial stability of an organization, the most common approach of which is the coefficient method. However, methods that use factor analysis, which builds a linear dependence of indicators of the financial and economic condition of a regional subject, are gaining popularity. These models are also called bankruptcy prediction models. One of the most popular models is Altman’s five-factor forecasting model and the four-factor model for non-manufacturing organizations. Altman’s approach is simple and versatile. However, this Altman model does not take into account the individuality of the company. British scientists G. Tishaw and R. Taffler modernized Altman’s model. One of the first Russian models for predicting the bankruptcy of economic entities was developed by A.Yu. Davydova and A.Yu. Belikov. This model took into account the relationship between such factors as working and equity capital, assets, net profit, cost and revenue. The following model, showing the financial stability of an enterprise, was formulated by Savitskaya. From the analysis of existing methods and models for assessing the financial and economic condition of regional economic entities, it follows that it is advisable to build a model taking into account: firstly, the individual characteristics of a particular organization; secondly, the choice of indicators and their weighting coefficients in the model must be scientifically justified. Therefore, the paper proposes to determine the financial stability of an organization in the region to form a model that includes the most commonly used in practice, namely the above five models for assessing the probability of bankruptcy of enterprises. At the same time, the industry specifics of organizations were taken into account. The purpose of the study is to form a methodology for assessing the integral level of financial stability of organizations in the region and determining the possible boundaries of its variation. In the course of the study, such methods as comparative, component and factor analysis, experiment were used. The paper presents a methodology for the formation of a generalized factor model for assessing the level of financial condition of regional organizations. The critical values of the integral indicator characterizing the level of financial condition of organizations are also determined.","PeriodicalId":53005,"journal":{"name":"RUDN Journal of Economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48222456","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-15DOI: 10.22363/2313-2329-2022-30-4-530-547
S. Doroshenko, V. V. Dzhabiev
Touches upon the foreign economic interactions of the partially recognized states - the Republic of South Ossetia. The development of states that have arisen, as a rule, as a result of armed conflicts, and are designated in world practice through variousterms (unrecognized states, secessions, de facto states, etc.), has a constant scientific interest. In recent years, research has been updated in the search for factors and mechanisms of self-development of such states, which does not imply absolute economic and social isolation, therefore, one of the mechanisms is external relations and trade interactions. The purpose of this study is to substantiate the features, trends, barriers and risks of export-import relations of the republic with the regions of the Russian Federation. The study was conducted using methods of empirical analysis of statistical data, as well as normative and cartographic analysis and presentation of results. The main sources of analytical information were the site data ru-stat.com. The period of the analysis is January 2013 - January 2022. The analysis revealed the current features and trends of trade relations between Russia and South Ossetia, including the transition of the customs authorities of South Ossetia to the standards of the Eurasian Economic Union; an increase in import volumes and tax revenues from it. There are three types of barriers to increasing imports to Russia - transport and logistics, institutional, and structural. The emergence of certain risks of the foreign trade relations with Russia is not excluded, in particular, the occurrence of pandemics like COVID-19, exchange rate fluctuations of the Russian currency, sanctions pressure. In general, the republic has long-term trade relations with Russian regions, primarily in terms of imports. Nevertheless, the Government of the Republic faces the strategic task of strengthening and increasing trade interactions.
{"title":"Modern trade relations between the Republic of South Ossetia and Russian regions: Features, trends, barriers, risks","authors":"S. Doroshenko, V. V. Dzhabiev","doi":"10.22363/2313-2329-2022-30-4-530-547","DOIUrl":"https://doi.org/10.22363/2313-2329-2022-30-4-530-547","url":null,"abstract":"Touches upon the foreign economic interactions of the partially recognized states - the Republic of South Ossetia. The development of states that have arisen, as a rule, as a result of armed conflicts, and are designated in world practice through variousterms (unrecognized states, secessions, de facto states, etc.), has a constant scientific interest. In recent years, research has been updated in the search for factors and mechanisms of self-development of such states, which does not imply absolute economic and social isolation, therefore, one of the mechanisms is external relations and trade interactions. The purpose of this study is to substantiate the features, trends, barriers and risks of export-import relations of the republic with the regions of the Russian Federation. The study was conducted using methods of empirical analysis of statistical data, as well as normative and cartographic analysis and presentation of results. The main sources of analytical information were the site data ru-stat.com. The period of the analysis is January 2013 - January 2022. The analysis revealed the current features and trends of trade relations between Russia and South Ossetia, including the transition of the customs authorities of South Ossetia to the standards of the Eurasian Economic Union; an increase in import volumes and tax revenues from it. There are three types of barriers to increasing imports to Russia - transport and logistics, institutional, and structural. The emergence of certain risks of the foreign trade relations with Russia is not excluded, in particular, the occurrence of pandemics like COVID-19, exchange rate fluctuations of the Russian currency, sanctions pressure. In general, the republic has long-term trade relations with Russian regions, primarily in terms of imports. Nevertheless, the Government of the Republic faces the strategic task of strengthening and increasing trade interactions.","PeriodicalId":53005,"journal":{"name":"RUDN Journal of Economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47028994","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-06-26DOI: 10.22363/2313-2329-2022-30-2-204-219
Ekaterina M. Sorokina
Russia and the Netherlands are crucial trading partners for each other and those countries have enduring trade history, during which there were both periods of “cooling” and “thawing” in trade and investment. Against the background of a global decline in trade and FDI flows, the issue of global production and global value chains (GVCs) cooperation, in particular Russian-Dutch cooperation, is becoming more relevant. Thus, this study aims to determine current trends and features of trade cooperation between Russia and the Netherlands using the decomposition of gross value added (VA) flows, since the analysis of trade in terms of GVCs allows one to more accurately determine the directions and structure of international trade. This issue becomes especially urgent in context of the international production fragmentation slowing down since GVCs, among other things, more accurately illustrate trade and production ties and the interdependence of the world’s economies. The article will consider the general characteristics of trade relations between Russia and the Netherlands in terms of gross trade indicators, determine the place of Russia and the Netherlands in the ranking of their trading partners, show the dynamics of trade and FDI, and also identify the main areas of cooperation between Russia and the Netherlands within the GVC framework with the help of sectoral analysis of VA trade. As a result of the analysis, the author comes to the conclusion that Russia and the Netherlands, firstly, are involved to varying degrees in GVCs, secondly, they participate in opposite directions within GVC flows, which is why they do not equally benefit from participation in global production, thirdly, mutual trade within the framework of the GVC is “one-sided” and unbalanced, and, fourthly, the export and industrial production of the Netherlands relies on Russian intermediate goods in a bigger extent than Russian exporting industries relies on the Dutch once.
{"title":"Russia and the Netherlands: Trade cooperation within the global value chains framework","authors":"Ekaterina M. Sorokina","doi":"10.22363/2313-2329-2022-30-2-204-219","DOIUrl":"https://doi.org/10.22363/2313-2329-2022-30-2-204-219","url":null,"abstract":"Russia and the Netherlands are crucial trading partners for each other and those countries have enduring trade history, during which there were both periods of “cooling” and “thawing” in trade and investment. Against the background of a global decline in trade and FDI flows, the issue of global production and global value chains (GVCs) cooperation, in particular Russian-Dutch cooperation, is becoming more relevant. Thus, this study aims to determine current trends and features of trade cooperation between Russia and the Netherlands using the decomposition of gross value added (VA) flows, since the analysis of trade in terms of GVCs allows one to more accurately determine the directions and structure of international trade. This issue becomes especially urgent in context of the international production fragmentation slowing down since GVCs, among other things, more accurately illustrate trade and production ties and the interdependence of the world’s economies. The article will consider the general characteristics of trade relations between Russia and the Netherlands in terms of gross trade indicators, determine the place of Russia and the Netherlands in the ranking of their trading partners, show the dynamics of trade and FDI, and also identify the main areas of cooperation between Russia and the Netherlands within the GVC framework with the help of sectoral analysis of VA trade. As a result of the analysis, the author comes to the conclusion that Russia and the Netherlands, firstly, are involved to varying degrees in GVCs, secondly, they participate in opposite directions within GVC flows, which is why they do not equally benefit from participation in global production, thirdly, mutual trade within the framework of the GVC is “one-sided” and unbalanced, and, fourthly, the export and industrial production of the Netherlands relies on Russian intermediate goods in a bigger extent than Russian exporting industries relies on the Dutch once.","PeriodicalId":53005,"journal":{"name":"RUDN Journal of Economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46544690","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-06-26DOI: 10.22363/2313-2329-2022-30-2-220-230
A. Chernysheva, E. Degtereva, S. U. Chernikov
The development of strategic alliances between Russian and foreign pharmaceutical companies allows not only to introduce biotechnologies in the domestic market, but also to strengthen the policy of import substitution and increase export volumes. That is why it is important to support the creation and functioning of strategic alliances at the state level. The purpose of this article is to study the creation and development of strategic alliances between Russia and Hungary, paying attention to the formation of alliances in the field of pharmaceuticals. In order to achieve this goal, the indicators of export-import operations between Russia and Hungary in the field of “pharmaceutical products”, as well as the main strategic alliances operating between the two countries were considered. It is assumed that the development of Russian-Hungarian strategic alliances in the field of pharmaceuticals with localization of production will help to achieve the goals of the import substitution policy in the field of drug production, as well as to intensify export operations. To test this hypothesis, documents published in the public domain were analyzed, including statistical data on export-import operations in the pharmaceutical market between Russia and Hungary. In general, it was proved that at the present stage of development of the pharmaceutical market of the Russian Federation, it is important to support the creation and functioning of strategic alliances, which will strengthen Russian positions not only in the domestic market, but also in the international market. Thus, the Russian Federation should actively develop and support the development of localized strategic alliances using various methods, which will increase the share of domestic biotechnologies and ensure their export.
{"title":"Development of strategic alliances between Russia and Hungary in the field of pharmaceuticals","authors":"A. Chernysheva, E. Degtereva, S. U. Chernikov","doi":"10.22363/2313-2329-2022-30-2-220-230","DOIUrl":"https://doi.org/10.22363/2313-2329-2022-30-2-220-230","url":null,"abstract":"The development of strategic alliances between Russian and foreign pharmaceutical companies allows not only to introduce biotechnologies in the domestic market, but also to strengthen the policy of import substitution and increase export volumes. That is why it is important to support the creation and functioning of strategic alliances at the state level. The purpose of this article is to study the creation and development of strategic alliances between Russia and Hungary, paying attention to the formation of alliances in the field of pharmaceuticals. In order to achieve this goal, the indicators of export-import operations between Russia and Hungary in the field of “pharmaceutical products”, as well as the main strategic alliances operating between the two countries were considered. It is assumed that the development of Russian-Hungarian strategic alliances in the field of pharmaceuticals with localization of production will help to achieve the goals of the import substitution policy in the field of drug production, as well as to intensify export operations. To test this hypothesis, documents published in the public domain were analyzed, including statistical data on export-import operations in the pharmaceutical market between Russia and Hungary. In general, it was proved that at the present stage of development of the pharmaceutical market of the Russian Federation, it is important to support the creation and functioning of strategic alliances, which will strengthen Russian positions not only in the domestic market, but also in the international market. Thus, the Russian Federation should actively develop and support the development of localized strategic alliances using various methods, which will increase the share of domestic biotechnologies and ensure their export.","PeriodicalId":53005,"journal":{"name":"RUDN Journal of Economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49255936","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-06-26DOI: 10.22363/2313-2329-2022-30-2-231-241
Valentina V. Kalygina
The aim of this study is to determine the prospects of the international transfer technologies in the Russian market. The sanctions imposed on Russia by the EU countries and the United States have led to a clear understanding of the danger of dependence on imports. In 2014, an import substitution program was launched by the Russian government, and it has already shown the positive results. Some industries showed the increasing the share of domestic products by 15-25% Nevertheless, simple import substitution can also have a negative impact on the enterprise. For example, it can decrease the productivity and the product quality. Not all enterprises can offer competitive products without imported components, technologies, and trained personnel, even for the domestic market. No doubt, the interests of domestic producers must be considered in the first place, but it is necessary to make sure that Russian products are also interesting for the foreign markets. That is why the government set the task of moving from the policy of simple import substitution to the policy of export-oriented import substitution. Russia should improve its performance in the export of non-resource goods. Unfortunately, simple localization can be quite risky for the economy. Russia should be more actively involved in international technology transfer. The article examines the weaknesses and strengths of the Russian innovation system, as well as the opportunities that open for Russian business and Swiss companies, that transforms innovative and patented technologies developed by Swiss universities and international research centers into global successful businesses.
{"title":"International technology transfer as an effective tool of export-oriented import substitution in Russia","authors":"Valentina V. Kalygina","doi":"10.22363/2313-2329-2022-30-2-231-241","DOIUrl":"https://doi.org/10.22363/2313-2329-2022-30-2-231-241","url":null,"abstract":"The aim of this study is to determine the prospects of the international transfer technologies in the Russian market. The sanctions imposed on Russia by the EU countries and the United States have led to a clear understanding of the danger of dependence on imports. In 2014, an import substitution program was launched by the Russian government, and it has already shown the positive results. Some industries showed the increasing the share of domestic products by 15-25% Nevertheless, simple import substitution can also have a negative impact on the enterprise. For example, it can decrease the productivity and the product quality. Not all enterprises can offer competitive products without imported components, technologies, and trained personnel, even for the domestic market. No doubt, the interests of domestic producers must be considered in the first place, but it is necessary to make sure that Russian products are also interesting for the foreign markets. That is why the government set the task of moving from the policy of simple import substitution to the policy of export-oriented import substitution. Russia should improve its performance in the export of non-resource goods. Unfortunately, simple localization can be quite risky for the economy. Russia should be more actively involved in international technology transfer. The article examines the weaknesses and strengths of the Russian innovation system, as well as the opportunities that open for Russian business and Swiss companies, that transforms innovative and patented technologies developed by Swiss universities and international research centers into global successful businesses.","PeriodicalId":53005,"journal":{"name":"RUDN Journal of Economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44116679","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-06-26DOI: 10.22363/2313-2329-2022-30-2-242-252
Maria I. Tislenko
The paper provides a comparative analysis of smart city rankings as a tool to assess the effectiveness of measures implemented by the city authorities to digitalize the urban economy. The genesis of the issue of ranking smart cities in the academic literature has been considered, and three international rankings have been selected for comparative analysis. Their comparison shows that those rankings, which are based on a wide selection of cities and statistical indicators, as well as assessments of experts and citizens, are the most effective in assessing the course towards smartization. It has been proven that, at the moment, the most representative is the rating IESE “Cities in Motion”, which, however, does not take into account the qualitative methods of assessing cities. This experience can be used by city and national authorities to implement policies to promote smart cities, including in Russia, where its “IQ index of cities” has been created.
{"title":"Ratings as a way of assessing the effectiveness of smart city policies","authors":"Maria I. Tislenko","doi":"10.22363/2313-2329-2022-30-2-242-252","DOIUrl":"https://doi.org/10.22363/2313-2329-2022-30-2-242-252","url":null,"abstract":"The paper provides a comparative analysis of smart city rankings as a tool to assess the effectiveness of measures implemented by the city authorities to digitalize the urban economy. The genesis of the issue of ranking smart cities in the academic literature has been considered, and three international rankings have been selected for comparative analysis. Their comparison shows that those rankings, which are based on a wide selection of cities and statistical indicators, as well as assessments of experts and citizens, are the most effective in assessing the course towards smartization. It has been proven that, at the moment, the most representative is the rating IESE “Cities in Motion”, which, however, does not take into account the qualitative methods of assessing cities. This experience can be used by city and national authorities to implement policies to promote smart cities, including in Russia, where its “IQ index of cities” has been created.","PeriodicalId":53005,"journal":{"name":"RUDN Journal of Economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44316597","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-06-26DOI: 10.22363/2313-2329-2022-30-2-179-191
A. Habyyeva
The aim and main objectives of this article are determined by the urgency of issue in intensifying country’s integration efforts into the global economy in the context of Turkmenistan’s accession to the WTO. The aim of this article is to develop proposals that may be used in negotiations by the country’s delegation on terms of Turkmenistan’s accession to the global trade organization. The article proves the necessity of taking into account the specificity of transition economies when evaluating and discussing their concessions and obligations they will accept upon WTO accession. The most important elements and key issues in negotiating to be considered by the delegation of Turkmenistan are identified. The paper demonstrates that building or reforming the institutional framework and mechanisms to implement the WTO Agreements will require more public and private investments. At the same time, the long-term strategic benefits and advantages of WTO membership will outweigh the adaptation costs. The latter will be short term if well-designed, balanced, gradual and good economic policy is developed. The article emphasizes the critical importance of conducting a well-developed and well-designed social and economic policy that will be the basis and factor contributing to reducing corruption risks and overcoming corruption in public sector. This paper concludes by providing recommendations. It shows that the country should have the benefit of an extended transition period under which the national trade rules and regulatory regimes must be totally reconsidered to reflect the WTO rules and regulations. Also, the country should be granted: firstly, certain exceptions to WTO rules and agreements; secondly, special and differential treatment; thirdly, special waivers of the application of “WTO-plus” obligations and “WTO-minus” provisions.
{"title":"Turkmenistan WTO accession issues","authors":"A. Habyyeva","doi":"10.22363/2313-2329-2022-30-2-179-191","DOIUrl":"https://doi.org/10.22363/2313-2329-2022-30-2-179-191","url":null,"abstract":"The aim and main objectives of this article are determined by the urgency of issue in intensifying country’s integration efforts into the global economy in the context of Turkmenistan’s accession to the WTO. The aim of this article is to develop proposals that may be used in negotiations by the country’s delegation on terms of Turkmenistan’s accession to the global trade organization. The article proves the necessity of taking into account the specificity of transition economies when evaluating and discussing their concessions and obligations they will accept upon WTO accession. The most important elements and key issues in negotiating to be considered by the delegation of Turkmenistan are identified. The paper demonstrates that building or reforming the institutional framework and mechanisms to implement the WTO Agreements will require more public and private investments. At the same time, the long-term strategic benefits and advantages of WTO membership will outweigh the adaptation costs. The latter will be short term if well-designed, balanced, gradual and good economic policy is developed. The article emphasizes the critical importance of conducting a well-developed and well-designed social and economic policy that will be the basis and factor contributing to reducing corruption risks and overcoming corruption in public sector. This paper concludes by providing recommendations. It shows that the country should have the benefit of an extended transition period under which the national trade rules and regulatory regimes must be totally reconsidered to reflect the WTO rules and regulations. Also, the country should be granted: firstly, certain exceptions to WTO rules and agreements; secondly, special and differential treatment; thirdly, special waivers of the application of “WTO-plus” obligations and “WTO-minus” provisions.","PeriodicalId":53005,"journal":{"name":"RUDN Journal of Economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42078652","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-06-26DOI: 10.22363/2313-2329-2022-30-2-192-203
Marina S. Reshethikova, Raziat A. Islacheva, Polina I. Tapchieva
The art market, like many other industries, has experienced a challenging and transformative period since early 2020 as the COVID-19 pandemic has created new unforeseen needs for galleries and auction houses. Along with the challenges it presented, the crisis has also created many opportunities for restructuring and innovation in the industry as organizations have been forced to look for new ways of working because the traditional format has become unacceptable, and this has required new methods and technologies. The market, driven by external circumstances, moved online as businesses closed and events were canceled, and dealers were forced to rethink their business models to adapt to the new economic realities, which, for many, involved the deployment or significant intensification of digital strategies in to support sales and communications. Therefore, the purpose of the study is to determine the impact of innovative technologies on the world’s largest auction houses. To better understand the impact of innovative technologies on the financial performance of the auction houses Christie’s, Sotheby’s and Phillips, econometric models were built to identify the presence or absence of a relationship between auction profits and such a qualitative factor as the format of the auctions. Based on the econometric analysis, it can be concluded that in the period 2019-2021, the importance of online auctions and, as a result, other technologies necessary to support their activities has increased. This growth is due to factors such as the forced transition to an online format due to security measures and the fight against COVID-19 and an increasing level of confidence on the part of market participants.
{"title":"The role of technology in the art market in the COVID-19 period","authors":"Marina S. Reshethikova, Raziat A. Islacheva, Polina I. Tapchieva","doi":"10.22363/2313-2329-2022-30-2-192-203","DOIUrl":"https://doi.org/10.22363/2313-2329-2022-30-2-192-203","url":null,"abstract":"The art market, like many other industries, has experienced a challenging and transformative period since early 2020 as the COVID-19 pandemic has created new unforeseen needs for galleries and auction houses. Along with the challenges it presented, the crisis has also created many opportunities for restructuring and innovation in the industry as organizations have been forced to look for new ways of working because the traditional format has become unacceptable, and this has required new methods and technologies. The market, driven by external circumstances, moved online as businesses closed and events were canceled, and dealers were forced to rethink their business models to adapt to the new economic realities, which, for many, involved the deployment or significant intensification of digital strategies in to support sales and communications. Therefore, the purpose of the study is to determine the impact of innovative technologies on the world’s largest auction houses. To better understand the impact of innovative technologies on the financial performance of the auction houses Christie’s, Sotheby’s and Phillips, econometric models were built to identify the presence or absence of a relationship between auction profits and such a qualitative factor as the format of the auctions. Based on the econometric analysis, it can be concluded that in the period 2019-2021, the importance of online auctions and, as a result, other technologies necessary to support their activities has increased. This growth is due to factors such as the forced transition to an online format due to security measures and the fight against COVID-19 and an increasing level of confidence on the part of market participants.","PeriodicalId":53005,"journal":{"name":"RUDN Journal of Economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42305790","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-06-26DOI: 10.22363/2313-2329-2022-30-2-168-178
G. Toropchin
Rapid development of China’s internal nuclear market, together with its rise on the international arena and the declared transition to green economy, gave a crucial impetus to its aspirations to enter the international atomic market as a global exporter of nuclear technology. The aim of this article is to define the political and ideological foundations underpinning such an ambitious endeavor, as well as predict the related development in the short and mid-term perspective. The author utilizes both general scientific methods as well as statistical and comparative analysis to single out the directions of China’s nuclear market outreach, both regionally and globally. Pakistan, widely presented as a flagship example of China’s exporting its know-how in nuclear engineering, remains the only partner of a kind in the broader Asia-Pacific. This article demonstrates that Belt and Road Initiative (specifically, the Green Silk Road), out of all multiple formats, was arguably chosen by the Chinese government as the most suitable framework for expanding its influence in the nuclear domain and filling a certain gap which formed after Westinghouse and Areva (now Orano) got reorganised after encountering financial problems. At the same time, China’s bid for leadership in the sphere of nuclear technology is obstructed by some impediments. Among them are Russia’s dominance in breakthrough areas of nuclear engineering and Rosatom’s large market share, as well as lack of political will in some countries’ elites to build ties with China in this strategic realm, opting for competition instead.
{"title":"Atomic Belt and Road: China’s international nuclear market entry","authors":"G. Toropchin","doi":"10.22363/2313-2329-2022-30-2-168-178","DOIUrl":"https://doi.org/10.22363/2313-2329-2022-30-2-168-178","url":null,"abstract":"Rapid development of China’s internal nuclear market, together with its rise on the international arena and the declared transition to green economy, gave a crucial impetus to its aspirations to enter the international atomic market as a global exporter of nuclear technology. The aim of this article is to define the political and ideological foundations underpinning such an ambitious endeavor, as well as predict the related development in the short and mid-term perspective. The author utilizes both general scientific methods as well as statistical and comparative analysis to single out the directions of China’s nuclear market outreach, both regionally and globally. Pakistan, widely presented as a flagship example of China’s exporting its know-how in nuclear engineering, remains the only partner of a kind in the broader Asia-Pacific. This article demonstrates that Belt and Road Initiative (specifically, the Green Silk Road), out of all multiple formats, was arguably chosen by the Chinese government as the most suitable framework for expanding its influence in the nuclear domain and filling a certain gap which formed after Westinghouse and Areva (now Orano) got reorganised after encountering financial problems. At the same time, China’s bid for leadership in the sphere of nuclear technology is obstructed by some impediments. Among them are Russia’s dominance in breakthrough areas of nuclear engineering and Rosatom’s large market share, as well as lack of political will in some countries’ elites to build ties with China in this strategic realm, opting for competition instead.","PeriodicalId":53005,"journal":{"name":"RUDN Journal of Economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48477860","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-06-26DOI: 10.22363/2313-2329-2022-30-2-155-167
D. Madiyarova, Tatiana S. Malakhova
In the context of modern conditions of foreign economic relations between the countries of the Eurasian Economic Community, they are being transformed under the influence of external challenges and threats. The pandemic temporarily paralyzed intercountry relations in the integration group. Despite this, the official institutions of the EAEU are developing new programs and strategic directions for the further development of this association. The purpose of the study is to assess the economic positions of the EAEU countries in international markets and to study individual strategic directions for the development of Eurasian integration until 2025. As a theoretical and methodological basis, the article uses the statistical, historical and logical method, dialectical principles and contradictions, the method of scientific abstraction. On this basis, the current state of the countries of the Eurasian Economic Union is analyzed, the indicators of international trade for 2017-2020 are assessed, the export and import range, proportion of imports covered by exports and etc. Particular attention is paid to the dynamics of industrial producer price indices for 2016-2020 and on this basis, a forecast for this indicator is given. It is noted that the share of innovative products of Russia in the total volume of shipped products of its own production is decreasing every year, which significantly affects the country’s position in international markets. It was noted that in order to strengthen the relationship of the EAEU countries at the stage of transformation of the geo-economic system, it is necessary to comprehensively and stage-by-stage implement the Strategic Directions for the Development of Eurasian Economic Integration.
{"title":"Strengthening relations between the countries of the Eurasian Economic Union at the stage of transformation of the geo-economic system","authors":"D. Madiyarova, Tatiana S. Malakhova","doi":"10.22363/2313-2329-2022-30-2-155-167","DOIUrl":"https://doi.org/10.22363/2313-2329-2022-30-2-155-167","url":null,"abstract":"In the context of modern conditions of foreign economic relations between the countries of the Eurasian Economic Community, they are being transformed under the influence of external challenges and threats. The pandemic temporarily paralyzed intercountry relations in the integration group. Despite this, the official institutions of the EAEU are developing new programs and strategic directions for the further development of this association. The purpose of the study is to assess the economic positions of the EAEU countries in international markets and to study individual strategic directions for the development of Eurasian integration until 2025. As a theoretical and methodological basis, the article uses the statistical, historical and logical method, dialectical principles and contradictions, the method of scientific abstraction. On this basis, the current state of the countries of the Eurasian Economic Union is analyzed, the indicators of international trade for 2017-2020 are assessed, the export and import range, proportion of imports covered by exports and etc. Particular attention is paid to the dynamics of industrial producer price indices for 2016-2020 and on this basis, a forecast for this indicator is given. It is noted that the share of innovative products of Russia in the total volume of shipped products of its own production is decreasing every year, which significantly affects the country’s position in international markets. It was noted that in order to strengthen the relationship of the EAEU countries at the stage of transformation of the geo-economic system, it is necessary to comprehensively and stage-by-stage implement the Strategic Directions for the Development of Eurasian Economic Integration.","PeriodicalId":53005,"journal":{"name":"RUDN Journal of Economics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42824573","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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