Socio-Economic Development of Russia: Through the Waves of a Pandemic and a Systemic Crisis

2021 ◽  
Vol 28 (2) ◽  
pp. 90-111
Author(s):  
A. A. Frenkel ◽  
B. I. Tikhomirov ◽  
Ya. V. Sergienko ◽  
A. A. Surkov
Keyword(s):  
Economic Development ◽  
Industrial Production ◽  
Federal Budget ◽  
The State ◽  
Financial Policy ◽  
Capital Investments ◽  
Case Examples ◽  
Development Indicators ◽  
Socio Economic Development ◽  
Systemic Crisis

In the article, the authors express their opinion on the outcomes of social and economic development of Russia in 2020 and give a forecast of expected results for 2021 and 2022. The state and possible directions for overcoming stagnation are considered, primarily by closing the technology gap in production and ensuring the growth of labor productivity, business, investment and consumer activity, increasing the efficiency of capital investments as key factors in the recovery of the real sector and the knowledge economy, including industrial production, agriculture, capital construction.The drawbacks of the current management system are noted, and measures to overcome the structural crisis are proposed. The need for changing the state socio-economic policy is substantiated. Its main goal should be to ensure the health of the nation.The authors compare trends in the Russian and world economies by main development indicators, such as gross domestic product, industrial production, investments, foreign trade.The article examines the shortcomings of the current state financial policy, which should become an instrument of financial support for sustainable socio-economic development and countering external and internal risks and threats. The problems of execution of the federal budget for 2020 are analyzed. Using case examples, the authors prove the necessity for priority use of financial resources of the «rainy-day fund» to accelerate the development of sectors of the national economy.Given the slowdown in global economic growth in 2020 and problems associated with its full recovery in 2021, the expected expansion of trade wars and sanctions lead to a conclusion that there is a growing negative trend in the Russian economy as well with the potential of stagnation escalating into recession.

The Role of the Federal Budgetary Investments in Ensuring the Socio-Economic Development of Russia in 2019–2021

2019 ◽  
Vol 12 (3) ◽  
pp. 48-58
Author(s):  
R. A. Alandarov
Keyword(s):  
Economic Development ◽  
Socioeconomic Development ◽  
Federal Budget ◽  
Developed Countries ◽  
Legal Framework ◽  
Legal Regulation ◽  
Capital Investments ◽  
Investment Planning ◽  
Socio Economic Development ◽  
Investment Structure

The paper describes the specifics of planning federal budget allocations for budgetary investments in 2019–2021.The relevance of the paper is due to the fact that Presidential Decree No. 204 of May 07.2018 sets the goal for Russia to break into the top five world economies and ensure economic growth rates exceeding the world rates while maintaining the macroeconomic stability. The subject of the research is federal budget allocations for budgetary investments. The purpose of the research was to assess the volume, dynamics, structure and legal support of budgetary investments to ensure their compliance with the objectives of the socio-economic development of Russia. Based on a dynamic structural analysis of the federal budget investments as well as a comparative analysis of fixed investments in Russia and developed countries, it is concluded that there is a need to enhance the fixed asset investments by increasing budgetary investment amounts along with encouraging private investing by the population and businesses. Apart from increasing capital investments from the federal budget, it is also important to update the budgetary investment structure with a focus on the main socioeconomic development targets. The analysis of the legal regulation in the field of budgetary investments showed the necessity to refine the existing legal framework to improve the quality of the budgetary investment planning. Following the analysis of factors hindering the growth of private investing, proposals were made on to how to improve the investment climate in the Russian Federation.

scholarly journals Capital Investment as a Component of State Investment Policy at the Regional Level

2020 ◽  
pp. 176-185
Author(s):  
Svitlana TARABAN
Keyword(s):  
Economic Development ◽  
Financial Stability ◽  
Value Added ◽  
Bank Lending ◽  
The State ◽  
High Tech ◽  
Capital Investments ◽  
Investment Activity ◽  
Socio Economic Development ◽  
Investment Process

The article examines the processes of inflow of investments into the economy of Ukraine, highlights the main problems and factors affecting investment activity and investment attractiveness of the country and regions. Functions of investments without which effective management and development of the economy of the state are impossible are considered. The peculiarities and tendencies of the investment activity in Ukraine are revealed, the ways to intensification of attraction of capital investments are determined. It has been found that the process of attracting capital investments in the Ukrainian economy has significantly slowed down due to the political and economic crises of recent years. As a result, the financial condition of enterprises has deteriorated, the number of unprofitable financial institutions has increased, the volume of bank lending to enterprises has decreased, the investment activity of foreign investors has decreased. Attention is drawn to the fact that the successful realization of the objectives of the socio-economic development of the regions depends on the efficiency of the organization of the investment process. The revitalization of the investment process is the main component of economic requirements, which are intended to identify real changes in the structure of the economy of the country and the region, to accelerate the transition of the economy to a qualitatively new level of industrial development, to improve the quality of domestic products and its competitiveness in the world market, to contribute to overcoming interregional disproportions, to provide growth in the state. The dynamics and structure of capital investments in Ukraine and Kharkiv region in 2017-2019 are analysed. The structure of capital investments for this period by sources of financing, types of economic activity, types of assets is studied. The conclusions on the materiality of the changes and direction that have occurred during this period have been made, the positive and unfavourable changes in the formation of capital investments have been characterized. It is determined that the socio-economic development of Ukraine is impossible without sufficient financing of capital investments. First of all, it is about modernizing the production of high-tech and competitive high-value-added goods and increasing their exports, as well as the introduction of innovative and energy-saving technologies. It is stated that the conditions for attracting investment in Ukraine are political, economic and financial stability, investment guarantees, improvement of legislative acts regulating investment activity and general improvement of the investment climate. Keywords: investment activity, capital investments, dynamics, structure, economic development, investment processes.

scholarly journals Socio-Economic Development of Russia in 2018-2020: Recession Threatening Stagnation

2019 ◽  
Vol 26 (10) ◽  
pp. 18-36 ◽  
Author(s):  
A. A. Frenkel ◽  
B. I. Tikhomirov ◽  
Ya. V. Sergienko ◽  
A. A. Surkov
Keyword(s):  
Economic Development ◽  
Industrial Production ◽  
Global Economy ◽  
Point Of View ◽  
Weak Links ◽  
Real Sector ◽  
The Real ◽  
Development Indicators ◽  
Socio Economic Development ◽  
Capital Construction

The article presents the authors’ point of view on the results of the socio-economic development of Russia in 2018 and provides an analytical assessment of forecasts for 2019 and 2020 and estimates for the immediate prospects for the development of the country. The focus is on ensuring the implementation of the May (2018) Decree of the President of the Russian Federation.The authors analyzed the state and confirmed directions to overcome stagnation, first of all, by eliminating the lag in the technological level of production and ensuring the growth in labor productivity, enhancing business, investment and consumer activity, increasing the efficiency of capital investments as key factors affecting the growth in the real sector and the knowledge economy, including industrial production , agriculture, capital construction.The paper highlights the weak links in the current management system and proposes measures to overcome the existing structural crisis. There is a need for a socio-economic policy change that should be aimed at ensuring the health of a nation.The authors compared Russian and global trends in key development indicators, such as gross domestic product (GDP), industrial production, foreign trade.A comparative assessment of the 2020 and 2021 forecasts of the considered key macroeconomic indicators (including the real sector of the economy as a driver of socio-economic progress) is presented. The projected in 2019 and 2020 slowdown in the global economy, the expected fall in global trade and the expansion of trade wars and sanctions, as well as the existing import dependence may contribute to the growing negative trend in the Russian economy and lead to stagnation escalating into recession.

scholarly journals BUDGET INVESTMENT AT THE LOCAL LEVEL

2021 ◽  
Author(s):  
Natalya Yaroshevych ◽  
Andriy Yakymiv ◽  
Olha Chubka
Keyword(s):  
Economic Development ◽  
Regional Development ◽  
Financial Support ◽  
Local Level ◽  
The State ◽  
Capital Expenditures ◽  
Capital Investments ◽  
State Budget ◽  
Investment Projects ◽  
Socio Economic Development

The article investigates the structure and dynamics of capital expenditures and capital investments at the expense of local budgets during 2010-2019. It has been established that since 2015 in Ukraine there has been an increase in capital expenditures of local budgets, both in the total amount of expenditures of local budgets, and in GDP as well. This is due to the growth of the local budgets resource base in connection with the decentralization reform. Also, a positive trend of growth in the percentage of capital expenditures of local budgets is revealed. This fact reflects the budgetary investment intensification at the local level. It was found that the growth of capital expenditures from local budgets occurs in the direction of the growth of capital transfers to enterprises (up to 40% in the total amount of capital expenditures). This may be due to the replenishment of the registered capital of utilities, a significant part of which is formed because of a medical reform. Major maintenance, reconstruction and restoration traditionally remain at a high level in the structure of local budgets capital expenditures. The significance for local budgets and procedures for obtaining various types of financial support for regional development from the state budget is also studied. It has been established that the investment potential of local budgets is formed by their own revenues to the development budget, as well as by funding from the state budget in the form of subventions to local budgets for the formation of the united territorial communities infrastructure (0.3-0.4% in the revenues of local budgets); subventions for the implementation of measures for the certain territories socio-economic development (0.2-1.2%) and financing of investment projects at the expense of the State Fund for Regional Development (0.7-1.03%). It was found that the growth of capital investments from local budgets to a small extent depends on financial support from the state budget. It was also clarified that the use of funds for the regional development financial support at the expense of the state budget does not quite correspond to the goals defined by legal acts. The problems of the efficiency of financing investment projects at the expense of the SFRD funds and subventions of socio-economic development have been identified. Recommendations are given for eliminating the identified problems of the effectiveness of financing investment projects for regional development.

Deterrence effects, socio-economic development, police revenge and homicides in Rio de Janeiro

2018 ◽  
Vol 45 (10) ◽  
pp. 1406-1423 ◽  
Author(s):  
Gabriel Caldas Montes ◽  
Gabriel Oliveira Lins
Keyword(s):  
Economic Development ◽  
Panel Data ◽  
Rio De Janeiro ◽  
Panel Data Analysis ◽  
Dynamic Panel Data ◽  
The State ◽  
Content Type ◽  
Development Indicators ◽  
Data Framework ◽  
Socio Economic Development

Purpose Due to the high levels of crime in Rio de Janeiro, the purpose of this paper is twofold. The first one is to analyze the effects of deterrence variables (such as the adoption of Pacifying Police Units (UPPs) and incarcerations) on violence in the municipalities of the State of Rio de Janeiro, as well as to verify the existence of “revenge effect.” The second is to analyze the effects of socio-economic development on violence, using development indicators. Design/methodology/approach Besides usual OLS method for panel data analysis, the study makes use of dynamic panel data framework through D-GMM and S-GMM. The estimates are based on a sample of 82 municipalities of Rio de Janeiro, and the period runs from 2003 to 2013. As dependent variables, the estimates use violent deaths (i.e. aggregation of intentional homicides and armed robberies followed by death) and homicides resulting from opposition to police intervention (i.e. civilians killed as a result of police actions against criminals – “opposition deaths”). Findings The estimates indicate that incarceration presents marginal capacity to reduce violence. Regarding the findings for the adoption of UPPs, the evidence suggests that this project increased violence and, therefore, the possibility of displacement of violence to other regions of the State. With respect to the effect of police deaths over violence, the results are unprecedented and suggest the existence of a “revenge effect.” Besides, the study points to the importance of socio-economic development to reduce violence. Originality/value Once the study analyzes the effects of incarceration and UPPs, it contributes to the literature by providing new evidence on the ability of anti-crime policies of reducing (or not) violence. In addition, when considering the death of policemen in the estimates, the study shows an unprecedented way, the effect that these deaths cause over violence (the so-called “revenge effect”). Moreover, the study considers the impacts of the development of employment and income, health and education on violence. When analyzing these development indicators, the study contributes with the literature that looks for non-police alternatives to control crime.

scholarly journals Tax and Customs Mechanisms for Regulation of the Russian Arctic Development from the Standpoint of Strengthening National Interests

2018 ◽  
Vol 11 (6) ◽  
pp. 143-151 ◽  
Author(s):  
L. I. Goncharenko ◽  
I. V. Nikulkina
Keyword(s):  
Economic Development ◽  
Economic Security ◽  
The State ◽  
Regulatory Mechanisms ◽  
The Arctic ◽  
Financial Policy ◽  
Russian Arctic ◽  
National Interests ◽  
Socio Economic Development ◽  
Arctic Area

The subject of the research is the formation of a comprehensive interconnected set of regulatory mechanisms for the socioeconomic development of the Arctic macro-region to meet the new economic requirements. The purpose of the research was to develop an adapted set of tax and customs regulatory mechanisms for the development of the Arctic Area of the Russian Federation from the standpoint of strengthening the national interests and economic security of the country and to identify the main problems in the establishment of a system for financial support and stimulation of the socio-economic development of the Russian Arctic Area. The relevance of the research is due to the fact that the development of the Russian Arctic Area having a substantial natural resource and economic potential determines to a great extent the economic security and sustainable development of the country. The dynamically changing geopolitical and economic situation necessitates seeking new approaches to the formation of the country’s Arctic financial policy alongside the development of effective mechanisms for its implementation in order to ensure sustainable socio-economic development of the Russian Arctic Area. Conclusions: a set of tax and customs mechanisms for the implementation of the state Arctic financial policy was proposed from the standpoint of strengthening national interests aimed at the promotion of investment, business and research activities in the Russian Arctic Area. The comprehensive use of the proposed regulatory mechanisms will improve the effectiveness of investment and financial decisions in the implementation of the state Arctic policy.

A model of the analysis of the dynamics and structure of socio-economic development (an example of the set of the largest Polish cities in the years 1998–2015)

2019 ◽  
Vol 63 (1) ◽  
pp. 25-37
Author(s):  
Lidia Mierzejewska ◽  
Jerzy Parysek
Keyword(s):  
Principal Component Analysis ◽  
Economic Development ◽  
Development Process ◽  
Principal Component ◽  
The State ◽  
Geographical Research ◽  
Development Policies ◽  
Socio Economic Development ◽  
Development Processes ◽  
State Of Affairs

Abstract The complexity of the reality studied by geographical research requires applying such methods which allow describing the state of affairs and ongoing changes in the best possible way. This study aims to present a model of research on selected aspects of the dynamics and structure of socio-economic development. The idea was to determine whether we deal with the process of reducing or widening the differences in terms of individual features. The article primarily pursues a methodological goal, and to a lesser extent an empirical one. The methodological objective of the paper was to propose and verify a multi-aspect approach to the study of development processes. The analyses carried out reveal that in terms of the features taken into account in the set of 24 of the largest Polish cities the dominating processes are those increasing differences between cities, which are unfavourable in the context of the adopted development policies aiming at reducing the existing disparities. In relation to the methodological objective, the results of the conducted research confirm the rationale of the application of the measures of dynamics and the feature variance to determine the character (dynamics and structure) of the socio-economic development process of cities. Comparatively less effective, especially for interpretation, is the application of principal component analysis and a multivariate classification, which is mainly the result of differences in the variance of particular features.

Transformation of Scientific Approaches to the Practice of Regulating the Socio-Economic Development of a Region

2018 ◽  
Vol 11 (4) ◽  
pp. 102-110
Author(s):  
N. P. Molchanova
Keyword(s):  
Economic Development ◽  
Regional Economy ◽  
Historical Context ◽  
Scientific Discipline ◽  
State Regulation ◽  
The State ◽  
Economic Relations ◽  
Current Period ◽  
Socio Economic Development ◽  
Legislative Framework

The paper deals with the methodology and practice of the state regulation of the regional economy based on the legislative framework and works of Russian scientists in the historical context with account for the specifics of the current period of market transformation. The subject of research is organizational and economic relations, aimed at improving the management efficiency of regional socio-economic development. The purpose of research was to identify the key problems of the regional economy regulation preventing the balanced functioning of administrative-territorial entities and substantiate the need to boost measures of state support. Based on the dialectical cognition method and the system approach, the positions of leading scientists and scientific schools on topical issues of the regional economy as a scientific discipline were analyzed, which made it possible to identify the main reasons hampering socio-economic transformations and justify measures for running a more active regional policy. It is concluded that consistent improvement of methodological and organizational approaches creates prerequisites for improving the results of the socio-economic development at the regional level; however, in the current situation of the macroeconomic instability serious problems may arise to be resolved primarily by the state regulation.

CURRENT ISSUES OF INTERBUDGETARY EQUALIZATION

2020 ◽  
Vol 1 (12) ◽  
pp. 74-78
Author(s):  
A. A. BISULTANOVA ◽  
Keyword(s):  
Economic Policy ◽  
Economic Development ◽  
Russian Federation ◽  
Current System ◽  
Federal Budget ◽  
Financial Resources ◽  
Socio Economic Development ◽  
Interregional Differentiation ◽  
The Russian Federation ◽  
The Stability

The author touched upon topical issues of inter-budget alignment, budget provision of regions with financial resources, focusing on factors that directly affect the stability of the budget system, as well as highlighting problems in the budget sphere that require urgent attention from the authorities. It is concluded that the level of interregional differentiation continues to increase, and the modern mechanism of budget equalization requires urgent amendments and adjustments. It is emphasized that the main goals of socio-economic development of the Russian Federation related to the transition to an innovative type of development, changes in the structure of the national economy, set out in strategic documents and messages of the President of the Russian Federation and declared since 2009, are not being implemented, and the effectiveness of state economic policy and Federal budget expenditures for its implementation remains low. This indicates the need to review the current system.

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