Specifics of the Impact of Sanctions on the Sectoral Development of the Russian Economy

2018 ◽  
Vol 11 (4) ◽  
pp. 44-53
Author(s):  
S. A. Varvus
Keyword(s):  
Agricultural Sector ◽  
Import Substitution ◽  
Value Added ◽  
Development Trend ◽  
Economic Relationships ◽  
Russian Economy ◽  
Reproduction Process ◽  
Substitution Policy ◽  
Sectoral Development ◽  
The Impact

The subject of research is the consequences of the impact of sanctions on a regional economy through the agricultural sector because the imposition of sanctions and the import substitution policy in agriculture have influenced all stages of the reproduction process, being an extra stimulus to the development of the sector. The paper examines the agricultural sector in the light of the import substitution policy and the effects of the first and second orders of sanctions. The purpose of research was to analyze the economic relationships of the largest agro-industrial holdings that are built along the value-added chain and influence the development of the region. The paper concludes that despite the sanctions, the industry is on the rise. However, due to second-order factors (high loan interest, long payback periods, etc.), the dynamic development trend may exhaust itself. Therefore, the state should continue to support the agriculture that has an indirect effect on the socio-economic level of regional development.

Foreign experience of import substitution and possible conclusions for Russia

2016 ◽  
pp. 137-148 ◽  
Author(s):  
V. Zagashvili
Keyword(s):  
Import Substitution ◽  
Value Added ◽  
Practical Implementation ◽  
Foreign Experience ◽  
Russian Economy ◽  
World Economic ◽  
Substitution Policy ◽  
Effective Integration ◽  
Current Stage ◽  
National Business

The article analyzes the possibility to use foreign experience of import substitution in the current environment of the Russian economy. The paper addresses the theoretical foundation of the import substitution policy laid down by F. Liszt, as well as its development and practical implementation in the middle and second half of the twentieth century. It is shown that such a policy is not consistent with the trends and the current stage of the world economic development. The conclusion is made that Russian economic policy should be focused on creating conditions for effective integration of the national business into the net of transnational industry and global value added chains.

scholarly journals Resilience factors in the Russian economy: The comparative analysis for 2000–2020

2021 ◽  
Vol 17 (8) ◽  
pp. 1412-1432
Author(s):  
Viktoriya V. AKBERDINA
Keyword(s):  
Capital Mobility ◽  
Global Financial Crisis ◽  
Import Substitution ◽  
Value Added ◽  
Industrial Sector ◽  
Russian Economy ◽  
Industrial Sectors ◽  
Macroeconomic Indicators ◽  
Resilience Factors ◽  
The Impact

Subject. The study investigates the impact of shocks on the economic dynamics during recurring crises. Nevertheless, the impact of exogenous shocks may turn to be minor for GDP of some countries, while they cause unfavorable consequences for the economic development of others. Objectives. I herein identify factors of resilience in the Russian economy, referring to three different crises that took place in 2000–2020, by conducting a theoretical overview of the concept Economic Resilience and resilience factors of economic systems against different shocks. Methods. The decomposition of macroeconomic indicators is the principal method of research. The resilience of the Russian economy and other advanced economies was assessed by macroeconomic indicators related to trends in GDP and the unemployment level. I point out two groups of factors – the innate and acquired (adaptability). Results. During the global financial crisis in 2008, the Russian economy demonstrated its innate factors, such as the availability of considerable reserves and capital mobility between the financial and industrial sectors, as well as adaptive factors as part of the national anti-crisis policy. During the period of sanctions, the resilience of the Russian economy stemmed from the enormous potential of the industrial sector and R&D, considerable reserves for production development, which underlay the import substitution policy. Finally, in the outbreak of the 2020 crisis, Russia managed to handle the crisis much better than the leading countries of the world, since there is a prevalence of State-owned large business and the domestic localization of value added chains. Conclusions and Relevance. The study substantiated the objectivity of resilience factors of the Russian economy during multiple crises, i.e. a combination of financial, commercial, political and pandemic crises.

The main trends in the development of agriculture in Russia in the context of economic sanctions

2020 ◽  
pp. 73-81
Author(s):  
Julia Nikolaevna Romantseva
Keyword(s):  
Growth Rate ◽  
Food Security ◽  
Agricultural Sector ◽  
Import Substitution ◽  
Value Added ◽  
Economic Sanctions ◽  
State Support ◽  
Substitution Policy

The aim of the study is to examine the main trends in the development of agriculture in Russia in the light of trade and economic sanctions, which had a significant impact on the development of the industry. The analysis showed that despite the decrease in the growth rate of value added in the agricultural sector, the production volumes of certain types of products increased significantly. This made it possible not only to ensure food security within the framework of the import substitution policy, but also to plan a significant increase in the export potential of the agricultural sector. The traced processes of concentration and centralization lead to a reduction in the number of enterprises of various categories of farms with an increase in the profitability of the remaining ones, with a significant level of state support. In general, the industry is developing at a much higher pace than the country’s economy, which gives reason to make favorable forecasts.

Problems of Implementation of an Import Substitution Policy in the Oil Industry

2019 ◽  
pp. 50-57
Author(s):  
Yu. V. Vertakova ◽  
A. S. Evtyukhin
Keyword(s):  
Import Substitution ◽  
Oil Industry ◽  
Investment Climate ◽  
Scientific Publications ◽  
Stage Of Development ◽  
Current Economic Situation ◽  
Negative Effect ◽  
Substitution Policy ◽  
Investment Process ◽  
The Impact

The presented study addresses the issues of implementation of an import substitution policy in the Russian oil industry. Support of domestic production is a key objective specified in the message of the President of the Russian Federation in 2019. In light of the current economic situation and considering the importance of the oil industry for the Russian economy, an import substitution policy could help achieve the objective set by the President.Aim. The study aims to identify the problems and ways of implementation of an import substitution policy in the Russian oil industry.Tasks. The authors analyze scientific publications on import substitution and the state of the Russian oil industry at the current stage of development; determine the directions and fundamental trends in the development of the oil industry; identify obstacles that hinder the implementation of an import substitution policy in the oil industry; describe conditions that facilitate the development of the  investment process in the oil industry; propose comprehensive methods and ways to intensify investments and optimize costs for enterprises in the oil industry.Methods. This study uses general scientific methods of cognition, comparative and statistical analysis to identify problems in the implementation of an import substitution policy in the oil industry.Results. Examination of the current state and development prospects of the oil industry allows the authors to identify obstacles to the development of import substitution. The study shows their impact on the potential of import substitution, which has a negative effect on the prospects of intensification of investment processes, and proposes comprehensive methods and mechanisms that could neutralize the impact of the identified obstacles, thus facilitating the formation of a positive investment climate. Conclusions. Investment climate is shown to have a decisive impact on the potential of import substitution in the Russian oil industry, and ways of overcoming negative trends in the development of the oil industry are proposed.

scholarly journals Econometric models for estimating current and forecast values of the level of human capital development in the Russian economy

2020 ◽  
Vol 26 (1) ◽  
pp. 52-67
Author(s):  
Nina Baranova ◽  
Sergey Larin ◽  
Evgeny Khrustalyov
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
Negative Impact ◽  
Import Substitution ◽  
Econometric Models ◽  
Practical Significance ◽  
Human Capital Development ◽  
Russian Economy ◽  
Capital Development ◽  
The Impact

Studies of factors of sustainable economic development in modern conditions are highly relevant for Russia due to the constant increase and tightening of sanctions restrictions. They have a negative impact on the introduction of innovative developments and economic growth, and reduce the competitiveness of Russian enterprises and their products on world markets. Human capital can become one of the key factors for countering sanctions restrictions, improving the efficiency of economic development and gaining additional competitive advantages for domestic enterprises and the economy as a whole. Assessing the impact of human capital on the sustainable development of the economy is difficult, since it is one of the specific forms of capital. When making appropriate measurements, economic scientists rely on a number of developed theoretical methods and practical tools that support them, which allow us to obtain fairly accurate values of the human capital development index (HDI) based on statistical data. First of all, this is the current UN methodology for calculating the HDI indicator, as well as modern software systems OriginPro-8.6 and Eviews-10.0, which have sufficiently advanced functionality for performing calculations. Russia today has all the necessary prerequisites and opportunities for progressive social and economic development. However, the formation of econometric models will help to timely determine the current and forecast values of the level of human capital development for individual enterprises, industries, and the country’s economy as a whole. This paper shows the practical application of the econometric tools of all the above approaches to obtain the calculated values of the HDI indicator for different time periods and different scenarios for the development of the Russian economy. The results obtained confirmed the high practical significance of the tools used and the acceptable accuracy of the calculations. However, the current and forecast values of the level of human capital development alone will not be able to ensure the effective development of the Russian economy. On the contrary, the effective use of human capital in the implementation of import substitution strategies and national projects will allow our country to become one of the world’s leading economic development countries.

scholarly journals DETERMINATION OF REGULARITY OF CHANGES IN INDICATORS OF INNOVATION ACTIVITY ON DEVELOPMENT AND ECONOMIC SECURITY OF AGRICULTURAL COMPLEX OF UKRAINE

2019 ◽  
pp. 183-191
Author(s):  
Svitlana Kushnir
Keyword(s):  
Agricultural Sector ◽  
Value Added ◽  
Economic Security ◽  
Model Specification ◽  
Innovation Activity ◽  
Industrial Complex ◽  
Agricultural Producers ◽  
Consistent Assessment ◽  
Labor Resources ◽  
The Impact

The purpose of this article is to investigate the current state and dynamics of technical, energy capacities, labor resources and wages in Ukrainian agricultural enterprises, the impact of these indicators on efficiency of agricultural production, indicators of development and competitiveness of products on the domestic and foreign markets. The moral and physical deterioration of the equipment available at the farms is determined, which does not contribute to the increase of labor productivity and to obtaining consistently high economic results. On the basis of the dynamics of the analyzed statistical data, the problem of providing agricultural producers with labor resources was confirmed against the background of deepening of depopulation processes in the countryside, which led to the deterioration of quantitative and qualitative characteristics of human resources. Indicators of development and production rates of the agro-industrial complex of Ukraine have been investigated, that showed a low level of innovation implementation. Mathematical formalization of the relationship between the dynamics of changes in the gross value added indicators and the volume of sales of agricultural products is carried out. Based on the analysis of innovative activity indicators in the agricultural sector of Ukraine and the consistent assessment of the adequacy of linear and nonlinear pair equations, the model specification is presented, which is presented in the form of linear pair regression, which confirms the existence of a direct link between changes in the volume of sales in the agrarian sector.

Integration of Manufacturing, Science and Education as a Basis for the Re-Industrialization of Russia

2015 ◽  
pp. 94-104
Author(s):  
S. Bodrunov
Keyword(s):  
Economic Policy ◽  
Import Substitution ◽  
Domestic Industry ◽  
Technological Basis ◽  
Russian Economy ◽  
World Economic ◽  
Science And Education ◽  
The Government ◽  
The Impact ◽  
Manufacturing Science

The article investigates the problems that Russian industry has encountered during the period of economic reforms. The author explores the reasons for the competitiveness decrease and contradictions that hinder the modernization of the domestic industry. Based on the analysis the principal concept is posed of the need in the implementation of the strategy of re-industrialization in Russia on a new technological basis. The basic directions of re-industrialization, the mechanisms of its implementation, as well as the impact on import substitution are considered. Substantial attention is paid to the risks inherent in a re-industrialization of Russia and the ways to overcome them. In recent years, geo-political and geo-economic challenges to the Russian economy and society greatly exacerbated the contradictions that emerged in the previous decades of economic evolution. During a long period of time the country tried to implement an economic policy intended, in principle, at achieving the strategic goal of creating a modern socially-oriented market economy on the base of modernization. However, the practical tools for implementation of this course – first of all, the ideology of “market fundamentalism” combined with the remaining powerful black market and “hand steering” by the government – caused stagnation and further de-industrialization of the country with inevitably negative implications for the manufacturing, science, education, human capital. Most recently, the Russian economy faced additional problems, namely, the Western sanctions, world economic slump and decline in world oil prices. That is why significant changes in the objectives and tools of economic policy are so urgent.

scholarly journals Innovative Development of the Agricultural Sector in the Visegrad Group Countries

2021 ◽  
Vol 14 (1) ◽  
pp. 1-13
Author(s):  
Anastasiia Burdiuzha
Keyword(s):  
Granger Causality ◽  
Agricultural Sector ◽  
Value Added ◽  
Innovation Activity ◽  
European Patent ◽  
Innovative Development ◽  
Causality Tests ◽  
Granger Causality Tests ◽  
The Impact ◽  
Visegrad Group

Abstract Subject and purpose of work: Analysis of the innovative development trends of the agricultural sector in the Visegrad Group countries in 1995–2019. Investigation of the impact of innovation on value added to GDP by the sector and the patent activity. Materials and methods: Secondary data used in the current research were taken from Eurostat, World Bank and European Patent Office databases. They were analyzed by applying OLS models and Granger causality tests. Results: First, composition of R&D expenses in each Visegrad country was examined. Then its relationship to agricultural GDP and the number of the patents granted was tested by means of OLS models. Forecasting the relationship between variables examined was carried out by running Granger causality tests. Conclusions: There was a constant growth in agricultural innovation activity investment from 1995 to 2019. Nevertheless, the countries examined have not yet reached the EU’s objective concerning the R&D intensities. Innovation activity had a positive impact on the value added to GDP by agriculture and on the number of the patents granted.

scholarly journals FISCAL DYSFUNCTION OF VAT ELECTRONIC INVOICING IN UKRAINE

2019 ◽  
pp. 23-36
Author(s):  
Nataliya SYNYUTKA ◽  
Kateryna KRYSOVATA
Keyword(s):  
Agricultural Sector ◽  
Positive Impact ◽  
Tax Compliance ◽  
Value Added ◽  
Tax Collection ◽  
Scientific Methods ◽  
Goods And Services ◽  
Fiscal Efficiency ◽  
Tax Benefits ◽  
The Impact

Introduction. During 2014–2017 VAT electronic invoicing was adopted in Ukraine, which allows for the automatic exchange of tax data between taxpayers and tax authorities. It was estimated the positive impact of e-invoicing reform on gross sales and purchases, tax liabilities across all firms, tax compliance etc. Purpose. The purpose of the article is to study the impact of VAT e-invoicing on a fiscal efficiency of the tax. Methodological approaches to understand the essence and nature of the taxation of spending under the conditions of an innovative digital trend in society can be used to implement a fair fiscal policy in Ukraine. Methods. The author used scientific methods such as abstraction, deduction, comparison, analysis, systematization and others. It was used statistical data, data of tax authorities, data of the State Treasury Service of Ukraine. Results. It was established that e-invoicing in Ukraine increases VAT refund and improves its mechanism firstly. On the other hand, digital technologies positive effect on tax collection for imported goods and services in Ukraine. Despite that, the fiscal efficiency of VAT hasn`t increased. Conclusions. The lack of a positive impact of e- reform on value added tax collection in Ukraine was revealed. The main factors causing fiscal VAT dysfunction in Ukraine are: a significant shadow economy, the sale of goods and services to end-users using a simplified tax system, tax benefits for the rapidly growing agricultural sector, non-taxation of electronic goods and services. Digital tools, e-invoicing system should be supplemented by other reforms to improve revenue mobilization, enhance compliance.

scholarly journals Modeling the impact assessment of agricultural sector on economic development as a basis for the country’s investment potential

2019 ◽  
Vol 16 (3) ◽  
pp. 229-240
Author(s):  
Alina Bukhtiarova ◽  
Arsen Hayriyan ◽  
Victor Chentsov ◽  
Sergii Sokol
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Foreign Direct Investment ◽  
Direct Investment ◽  
Agricultural Sector ◽  
Negative Impact ◽  
Manufacturing Sector ◽  
Value Added ◽  
The Cost ◽  
The Impact

In the context of countries integration into the world economic space, agricultural sector is one of the priorities and strategically important sectors of the national economy. Development of instruments aimed to increase investment potential of this sector is therefore an important component of the country’s economy growth. The article proposes a science-based model of the impact of the agricultural sector on the economic development level of countries trying to move towards European integration.It was found that the employment rate (+58.4) has the largest influence on the rate of GDP change in the studied group of countries (Ukraine, Moldova, Georgia, Armenia). The impact of the gross value added of the manufacturing sector on its economic growth is positive (+44.6). The negative foreign direct investment ratio in the model (–40.3) may be due to the fact that the indicator in the studied countries is still largely influenced by the intervention of the state mechanism, significant uncertainty and risk, which is a deterrent to the overall economic development. An important result of the study was that foreign direct investment had a negative impact on economic growth in developing countries. Further development of the investment potential of a country’s agricultural sector provides for a radical acceleration of scientific and technological progress and, on this basis, a reduction in the cost of a unit of agricultural products and food and an increase in their competitiveness in the domestic and world markets.

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