A Russian approach to ensuring economic growth

2021 ◽  
Vol 20 (7) ◽  
pp. 1234-1255
Author(s):  
Valerii V. SMIRNOV
Keyword(s):  
Economic Growth ◽  
Russian Federation ◽  
Systems Approach ◽  
Consumption Expenditures ◽  
Goods And Services ◽  
Russian Economy ◽  
Public Consumption ◽  
The Russian Federation ◽  
The Government ◽  
And Cluster Analysis

Subject. The article investigates a Russian approach to ensuring economic growth. Objectives. The aim is to identify the basis of the Russian approach to ensuring economic growth. Methods. The study rests on the systems approach, using the methods of statistical, neural network, and cluster analysis. Results. The paper defines the structural importance of exports of goods and services, and changes in inventories. It highlights significant links with public consumption expenditures. The Russian approach to ensuring economic growth comes down to devaluation of the national currencyб resulting from the loss of the real inflationary potential of economic growth to maintain the volume of exports of goods and services in the context of maintaining public consumption expenditures. The increase in M2 forces the Central Bank of the Russian Federation to increase its foreign exchange reserves. This has a restraining effect on the growth of Russian Ruble’s monetary exchange rate. This phenomenon causes a drop in the Russian federal loan bond (OFZ) index and a replacement of strategic priorities with tactical ones. Conclusions. The basis of the Russian approach to ensuring economic growth is a reflection of the limits of the Russian economy development and the effectiveness of the Government of the Russian Federation.

Analyzing the parameters of building the Russian capitalism

2021 ◽  
Vol 17 (12) ◽  
pp. 2295-2316
Author(s):  
Valerii V. SMIRNOV
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Russian Federation ◽  
Systems Approach ◽  
The United States ◽  
Gdp Per Capita ◽  
Goods And Services ◽  
The Russian Federation ◽  
Per Capita ◽  
The Government

Subject. The article addresses the Russian capitalism. Objectives. The purpose is to identify parameters of building the Russian capitalism. Methods. The study draws on the systems approach, using the methods of statistical, neural network, and cluster analysis. Results. The study revealed the parameters of building the Russian capitalism, like the structural balance of public administration, volatility in the growth rate of exports and imports of goods and services, a decrease in the growth rate of exports and imports of goods and services, net government lending and borrowing, GDP per capita, general government expenditure. The optimal cluster for building the Russian capitalism is the relationship between Russia and the United States in the context of GDP per capita in national currencies. The study expands the scope of knowledge and develops the competencies of the government of the Russian Federation to ensure the economic growth. Conclusions. The unveiled parameters of building the Russian capitalism, as well as understanding the reasons for the emergence of the Russian State capitalism as a form of merging of the American market economy and Chinese planned economy enable the government of the Russian Federation to effectively orient its actions towards economic growth.

Economic boundaries of the Bank of Russia's operations

2021 ◽  
Vol 27 (5) ◽  
pp. 1093-1115
Author(s):  
Valerii V. SMIRNOV
Keyword(s):  
Russian Federation ◽  
Growth Rates ◽  
Systems Approach ◽  
Banking System ◽  
Weighted Average ◽  
Legal Form ◽  
Russian Economy ◽  
The Russian Federation ◽  
And Cluster Analysis ◽  
Existing Structure

Subject. The article focuses on operations of the Central Bank’s of the Russian Federation. Objectives. The study is to determine economic boundaries of operations of the Central Bank of the Russian Federation. Methods. The study is based on the systems approach and methods of statistical, neural network and cluster analysis. Results. Analyzing the tomorrow-today dynamics of difference of the weighted average exchange rate RUB/USD and EUB/EUR and supply of USD and EUR, I discovered the supply of USD steadily exceeded the supply of RUB/EUR starting from 2018. Analyzing trends in growth rates of international reserves and money base (in its narrow sense), I found a growth in monetary growth starting from 2015 and currency reserves, cash in circulation (out of the Bank of Russia), statutory reserves of credit institutions in the Bank of Russia starting from 2017. Analyzing the importance of growth rates of market indicators, I identified its effective configuration referring to the dynamics of SP500. However, I point out stocks of Rostelecom, gold and RUB/USD. The article demonstrates the important ties between RTS index and stocks of Gazprom and Rostelecom, USD index ? RUB/USD, gold, SP500. Considering the existing structure of the Russian economy, the upper and base boundaries of the Bank of Russia’s operations are Repo rate and RUB/USD respectively. Conclusions and Relevance. The above economic boundaries of the Bank of Russia’s operations allow financial institutions to pursue an increase in the sustainability of the banking system, preserve the ownership structure, legal form and corporate governance, and use derivatives in order to decrease borrowings costs. The study contributes to the knowledge and competence of governmental officials so as to make administrative decisions on sources of growth in the Russian economy and respective opportunities.

Digital tax: an instructive foreign experience

2020 ◽  
pp. 69-87
Author(s):  
K.S. Teteryatnikov ◽  
S.G. Каmolov ◽  
D.A. Blashkina
Keyword(s):  
Russian Federation ◽  
High Tech ◽  
Digital Products ◽  
Tax Reforms ◽  
Goods And Services ◽  
Russian Economy ◽  
Internet Users ◽  
The Usa ◽  
On Line ◽  
The Russian Federation

The article is meant to analyze current problems and prospects for the development of effective tax policy as part of digital transformation of Russian economy. Introduction of a digital tax and the consequences of the digital tax reforms in the EU, the USA and OECD countries are highlighted. The necessity of qualitative transformation of the tax system of the Russian Federation in response to modern challenges is substantiated, taking into account the changes of the Tax Code of the Russian Federation adopted at the end of July 2020. The authors suggested their own concept of a digital tax and the prospects for its adoption in Russia, and consider it inappropriate to impose taxes on Internet users who do not use the Internet for business. Today, the main focus should be made on creating and testing effective technologies that allow on-line monitoring the tax basis of digital economy entities, taking into account the cross-border movement or use of digital products (goods and services). In addition, it would be extremely important to provide for a potential tax exemption for part of the profits of international ICT companies that are received on the territory of the Russian Federation and reinvested in joint with Russian companies projects in the high-tech for civil purposes area.

LEGAL MECHANISMS FOR STIMULATING THE DEVELOPMENT OF THE OIL AND GAS SECTOR OF THE RUSSIAN ECONOMY

2021 ◽  
Author(s):  
Viacheslav Olegovich Mosalygin ◽  
Keyword(s):  
Natural Gas ◽  
Russian Federation ◽  
Oil And Gas ◽  
Significant Part ◽  
Tax Revenues ◽  
Russian Economy ◽  
Oil And Natural Gas ◽  
The Russian Federation ◽  
The Government ◽  
Oil And Gas Sector

For more than 15 years, a significant part of the budget revenues of the Russian Federation have been tax revenues from the sale of hydrocarbons, in particular oil and natural gas. Despite the desire of our government to minimize its dependence on oil and gas revenues, the government continues to implement measures to encourage both small and large companies by providing some tax-related benefits, thereby encouraging the fields to further develop and expand.

EFFICIENCY OF THE USE OF INTELLECTUAL CAPITAL AS A FACTOR OF INCREASING THE COMPETITIVENESS OF THE RUSSIAN FEDERATION

2021 ◽  
Vol 2 (3) ◽  
pp. 88-92
Author(s):  
A. V. DZHIOEV ◽  
Keyword(s):  
Economic Growth ◽  
Russian Federation ◽  
Intellectual Capital ◽  
Industrial Revolution ◽  
Powerful Factor ◽  
Eu Countries ◽  
Fourth Industrial Revolution ◽  
Russian Economy ◽  
The Us ◽  
The Russian Federation

The article analyzes the reasons for the unstable development of the Russian economy in the period after the introduction of sanctions by the US and EU countries. It is shown that in the context of the fourth industrial revolution in Russia, it is extremely important to actively increase and effectively use such a powerful factor of economic growth and achieving international competitiveness as national intellectual capital.

The analysis of the substance of economic growth in Russia

2021 ◽  
Vol 17 (9) ◽  
pp. 1737-1761
Author(s):  
Valerii V. SMIRNOV
Keyword(s):  
Economic Growth ◽  
Socioeconomic Development ◽  
Systems Approach ◽  
Financial Assets ◽  
Russian Government ◽  
Internal Resources ◽  
Russian Economy ◽  
Ministry Of Finance ◽  
And Cluster Analysis ◽  
Sustainable Economic Growth

Subject. The article investigates the substance of Russia’s economic growth. Objectives. I determine what circumstances influence the substance of the economic growth in Russia. Methods. The study relies upon the systems approach, methods of statistical, neural network and cluster analysis. Results. It is important to analyze the substance of the economic growth in Russia. The Russian resources were found to be actively provided to other countries via capital and current transfers. Growth rates in the consolidated account gets less variable since the statistical variance was significantly adjusted with respect to capital translations, and product subsidies were limited, including products for State-owned enterprises, exports and imports. As a priority of the Russian economic economic growth, it focuses on the generation of income. I also discovered considerable links to the consolidated account. The Russian economy is oriented at the reallocation of available income among sectors so that savings and capital transfers could be made. Doing so, the country will subsequently acquire non-financial assets on the free-hold basis and interest in the production process. Internal resources of the sustainable economic growth were found to deplete under the current monetary policy of the Central Bank of Russia and Russia’s Ministry of Finance. Conclusions and Relevance. Shaping the substance of the economic growth in Russia, such circumstance demonstrate to governmental authorities that the goal of the socioeconomic development should be achieved with different methods. The findings contribute to the knowledge and competence of the Russian government for purposes of economic growth.

scholarly journals FEATURES ANTI-INFLATIONARY POLICY OF THE RUSSIAN FEDERATION

2018 ◽  
Author(s):  
Галина Крохичева ◽  
Galina Krohicheva ◽  
Анастасия Нелипа ◽  
Anastasiya Nelipa
Keyword(s):  
Economic Growth ◽  
Russian Federation ◽  
Important Condition ◽  
Economic Mechanism ◽  
Russian Economy ◽  
The Russian Federation ◽  
Complex Influence ◽  
Modern Russian

The article is devoted to the anti-inflation policy as an important condition for its economic growth. The choice of anti-inflation impact methods of anti-inflationary impact should be determined by the nature and level of inflation, the economic mechanism specifics. The aspects of inflation in the modern Russian economy are revealed and the measures of anti-inflation policy as a means of complex influence on the reasons of inflation processes formation are offered.

“Library 2030: Building the Future Today”: Results of the All-Russian Library Congress

2021 ◽  
Vol 70 (4) ◽  
pp. 437-447
Author(s):  
Victoria V. Meshcheryakova ◽  
Irina A. Trushina
Keyword(s):  
Russian Federation ◽  
Information Technologies ◽  
Public Libraries ◽  
Modern World ◽  
Annual Conference ◽  
Goods And Services ◽  
The Future ◽  
Hybrid Format ◽  
The Russian Federation ◽  
The Government

On 16—20 May 2021, the All-Russian Library Congress: XXV Anniversary Annual Conference of the Russian Library Association (RLA) was held in the Library Capital of Russia for 2020/2021, Petrozavodsk (Republic of Karelia), with the support of the Ministry of Culture of the Russian Federation and the Government of the Republic of Karelia. The theme of the Congress was “Library 2030: Building the Future Today”. For the first time, this forum was held in a hybrid format, i.e., both offline and online, while all the events were streamed online, which made it possible to expand the audience reach. The strategic goals of the Congress were to identify the main trends in the development of librarianship and to form the image of the library of the future. Consequently, many speakers focused on the pivotal document for the library field “The strategy for the development of librarianship in the Russian Federation until 2030”, approved in 2021. In addition, the participants deliberated the draft of the new professional standard “Specialist in library and information activities”. The plenary and sectional sessions involved the discussions on the development of libraries of various types, the library profession in the modern world, etc. The Congress was accompanied by the XXI Exhibition of publishing products, new information technologies, goods and services, which was also organised in a hybrid format. At the final plenary meeting, the results of the elections of the President of the RLA and the members of the RLA Board for 2021—2024 were announced. M.D. Afanasyev was elected President of the RLA for a second term. One of the important outcomes of the Congress was the adoption at the final plenary session of the RLA normative and advisory act “Methodological recommendations for the formation of basic standards for the provision of public libraries services in the constituent entities of the Russian Federation”. Nizhny Novgorod received the status of the Library Capital of Russia for 2022, and it is going to host the XXVI All-Russian Library Congress next year.

JAPANESE TECHNOLOGIES FOR THE DIGITAL TRANSFORMATION OF THE RUSSIAN ECONOMY

2021 ◽  
Vol 2 (11) ◽  
pp. 160-166
Author(s):  
Natalya N. Trofimova ◽  
Keyword(s):  
Economic Growth ◽  
Russian Federation ◽  
Manufacturing Sector ◽  
Digital Transformation ◽  
Innovation Strategy ◽  
Technological Innovations ◽  
Innovative Development ◽  
Russian Economy ◽  
The Russian Federation ◽  
Global Economic Growth

The article discusses the Japanese strategy of innovative development of the economy and society – the strategy «Society 5.0». The author emphasizes that active digital transformation is currently necessary for global economic growth, which is the basis of «Society 5.0». This strategy implies the develop-ment of technologies that sets the vector of development of both industry and the manufacturing sector, as well as society as a whole. The article substantiates the need for a global digital transformation that ensures serious changes in the life of society, including management, the structure of industry and employment. It is shown that «Society 5.0» is based on the integration of physical and cyberspace to solve social problems, allowing people to live as comfortably as possible due to technological innovations. The obstacles that countries have to overcome when implementing the new innovation strategy «Society 5.0» are highlighted. The problems that pushed the Japanese government to the need to develop innovative approaches to the devel-opment of the economy and society are described. It is emphasized that the basis for the transition to the strategy «Society 5.0» is the program «Digital Economy of the Russian Federation».

Influence of Monetary Policy on Technological Development of the Economy in a Long-Term Aspect

2020 ◽  
Vol 144 ◽  
pp. 136-143
Author(s):  
Elena A. Matchenko ◽  
Keyword(s):  
Economic Growth ◽  
Monetary Policy ◽  
Foreign Exchange ◽  
Russian Federation ◽  
Oil Prices ◽  
Financial Resources ◽  
Financial Flows ◽  
Russian Economy ◽  
Wide Range ◽  
The Russian Federation

Monetary policy currently pursued by the Central Bank of the Russian Federation is a reflection of external market conditions. Regulatory approaches should, in particular, help reduce the dependence of monetary policy on external factors — such as oil prices, foreign loans, access to foreign markets, etc. This is not about completely isolating the monetary sphere of the Russian Federation from parameters and the external environment. It is required to refuse close, automatic communication with the given parameters. It is necessary to increase the stability of the monetary system of the Russian Federation and the economy as a whole in relation to external shocks. This can be done through more active use of a wide range of tools available to the regulator. These include monetary and regulatory mechanisms (interest rates, reserve requirements, foreign exchange positions, etc.), gold reserves, verbal interventions, etc., which can have a stimulating effect on economic growth. The high volatility of the ruble now observed makes it extremely difficult for enterprises to plan and forecast, thereby making it impossible for the normal course of investment processes and expanded reproduction. In order to use monetary mechanisms to stimulate economic growth and eliminate the negative effects of current monetary policy (in particular, implemented since autumn 2014), a departure from inflation targeting and free floating of the ruble exchange rate is necessary. At the same time, it is obviously necessary to abandon many components or closely related elements (for example, “monetary contraction”). In addition, steps will be needed to stabilize the foreign exchange market, which would have positive effects (falling volatility, lower inflation, etc.). Under current conditions, with limited access to external financial resources, it is important to use mechanisms for generating financial flows based on internal sources. In other words, the monetary base should be formed due to internal factors, and not depend on the dynamics of energy prices. In previous years, the main emphasis in the Russian economy was placed on the external sphere as a source of growth financing. Restricting access to external cheap financial resources (due to low oil prices, sanctions, etc.), as well as continuing geopolitical tensions with regard to Russia, reduce the possibilities for implementing longterm investment projects in the economy. This increases the relevance of national mechanisms and sources of formation of the resource base (including long) necessary to refinance previously taken loans, as well as to implement structural changes in the Russian economy.

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