The issue of the readiness of the Russian economy to implement digital transformation

In the article, the author carried out an integral qualitative assessment of the readiness of the domestic economy for the transition of its functioning to the format of industry 4.0. The degree of infrastructural and institutional compliance of the country’s economy with the criteria necessary for the implementation of the digital transition is investigated. The relevance of the article is due to the compression of the time available for the domestic economy to implement digital transformation, which are caused by the economic and infrastructural consequences of the Covid–19 pandemic and the tightening of competition between countries for the right to dominate the information space. The result of the scientific work done by the author is a comprehensive assessment of the readiness of the Russian economy for digital transformation, indicating its strengths and weaknesses. Taking into account the most significant factors determining Russia’s readiness for digital transformation, the framework directions for supporting the digital transformation of the country’s economy are proposed.

Quantitative Estimation of the Domestic Economic Ripple Effect of Foreign Disaster: The Case of China

In the past, damage from natural disasters was limited to the country directly affected, but as the world becomes one economic community, instances of damage spreading to other countries are increasing. Nonetheless, there has been insufficient research on the ripple effect of foreign disaster. This study thus analyzed the ripple effect on the domestic economy from foreign disaster, using a disaster scenario based on cases of China. The ripple effect was quantitatively calculated using an industry input coefficient. The results show that the direct damage was 0.08% of Gross Domestic Product (GDP), and the total amount of damage (including indirect damage) was 0.39% of GDP, thus demonstrating that foreign disaster could cause great damage to the domestic economy.

Cause-Related Marketing and Ethnocentrism: The Moderating Effects of Geographic Scope and Perceived Economic Threat

Amongst the various factors that managers need to consider when designing a CRM campaign is the cause’s geographic scope, i.e., should the CRM campaign benefit local, national, or international communities? Although previous research has examined the importance of geographic scope in the effectiveness of the CRM campaigns, it has largely ignored consumer reactions to CRM campaigns from a local cultural identity perspective, such as ethnocentric identity. This study brings together these two important factors to examine (through the lens of Social Identity Theory) how consumer ethnocentrism affects CRM effectiveness in campaigns varying in geographic scope. We test our hypotheses through an experimental study of 322 British consumers and three different geographic scopes (UK, Greece, and Ethiopia). Our results show that ethnocentric consumers show a positive bias towards products advertised through national CRM campaigns; however, there is a diversity of reactions towards different international geographic scopes, based on the levels of ‘perceived economic threat’. Ethnocentric consumers prefer international CRM campaigns that benefit people located in a country posing a lower vs. a higher economic threat to the domestic economy and the self. Our study contributes to a broader understanding of factors affecting the effectiveness of CRM campaigns and help managers design better CRM campaigns by carefully selecting the geographic scope, after considering a rising consumer segment: the ethnocentric consumer.

ONCE AGAIN ABOUT THE NEGATIVE SYNERGY OF THE DESTRUCTIVE POLICY OF THE RUSSIAN MONETARY AUTHORITIES

The article discloses an interconnected set of strategic defects in the regulatory activities of the Bank of Russia in cooperation with the Ministry of Finance, which predetermine the significant contribution of the neoliberal financial and credit policy pursued by them both to the development of an autonomous recession and the aggravation of the coronary crisis in our country. Based on a comparative analysis of the post-default and post-sanction devaluation of the ruble, a conclusion is made about the predominantly negative impact of the latter on the dynamics of Russian GDP and on inflationary processes in the country. The premature transition of the central bank to inflation targeting and, especially, to the free-floating ruble regime, the leading beneficiaries of which are disclosed commodity exporters, financial speculators and the Ministry of Finance, have been critically examined. The continued dominance of the foreign exchange channel in the Bank of Russia’s issuing activities over the credit channel and the inability of the financial authorities to cover the budget deficit through monetary financing are regarded as decisive factors preventing overcoming the coronavirus crisis on the way to a reasonable diversification of the domestic economy. The unjustified transition already in 2021 to a super-tight monetary and fiscal policy, which does not fit into the global practice of anti-crisis regulation, is seen as a kind of renaissance of the false monetarist approach in the activities of leading Russian regulators, their traditional reliance on the quantitative theory of money and the ensuing desire to overcome cost inflation using methods characteristic of combating demand inflation. As the end result of the noted manifestations of the fiasco of the Russian state in the money market, an extremely low coefficient of monetization of the domestic economy is considered, which prevents its breakthrough high-quality growth in the foreseeable future.

Prospects for Innovative Development of Uzbekistan Enterprises in the Conditions of Transformation of the Digital Economy

The article examines the problems of innovative development in the economy of Uzbekistan, which remains relevant for a long period of time, given the high social-economic effect that can be obtained from the widespread introduction of innovations. However, the expected indicators to date have not been achieved due to the influence of various economic, institutional and other factors characteristic of the domestic economy.

The Status Quo, Problems and Countermeasures of the B&B Industry in China

With the rapid development of the domestic economy and the continuous improvement of the people's living standards, China's all-in tour continued to warming. As the segment of tourism accommodation products, the B&B is in the guidance of rural revitalization policies to show vigorous vitality. This paper discusses the development status and existing problems of China's B&B Industry in recent years, and put forward countermeasures.

Peculiarities of accounting and control of current liabilities of the enterprise

Introduction. The crisis state of the domestic economy and a number of other factors require domestic enterprises and other levels of management to take prompt and drastic measures aimed at increasing the level of management. One of the promising and proven directions for increasing the efficiency of the management level is the increase and qualitative growth of the accounting system and the internal control system. One of the most important and difficult areas of accounting and control work (determining the final results of the financial and economic activities of the enterprise and its financial condition) is the accounting and control of liabilities, primarily current ones, this is what determines the direction of this research. The purpose of the paper is to improve the accounting and control of current liabilities by developing measures to eliminate violations and prevent them in the future. The methodological basis was dialectics, philosophical methodological methods of cognition. Results. The paper examines approaches to clarifying the definition of “current liabilities”. The most significant problems of modern economic activity of the domestic economy are investigated: low contractual discipline, crisis of non-payments, global chronic violation of the terms and conditions of payment for liabilities, primarily for current liabilities. A number of measures were proposed to eliminate violations in accounting, control current liabilities and prevent them in the future; non-admission in the practice of economic activity, accounting and control of delays in the terms and conditions of payment for liabilities. The studies have shown the need to improve the level of planning and contractual discipline, financial planning, improving document flow, accounting and control work at the enterprise. Conclusion. The main conclusions of the study are: the need for further research on this issue; introduction of a payment schedule for liabilities; the need to develop a methodology for checking current liabilities by the internal control system, compliance with contractual discipline; scheduled regular inspections of facilities and processes related to accounting and control of current liabilities.

Accounting theory verbalism

Based on the deductive understanding of current publications in the area of accounting theory, it is determined that it is increasingly acquiring signs of verbalism. It is caused by an excessive enthusiasm for foreign terminology, and without a balanced application in the context of accounting, since it is based on arbitrary interpretations of foreign words, as a result of which the authors fall into a semantic trap. The author emphasizes the importance of focusing not on false verbose scholastic exercises in an attempt to pretend to be the discoverers of certain ephemeris terminologies, but on the real problems of accounting, which negatively affects the state of the domestic economy. It is noted that this happened due to the growing remoteness of accounting theory from pragmatism and the predominance of utopian ideas in it, which have nothing to do with accounting, but is only an adjustment to it in order to sell books that attract buyers by the incomprehensibility of names and ignoring the fundamentals of accounting theory. After all, even such a basic financial and economic category as capital, in many cases began to affect negative numbers, and the “tax shield of an enterprise” – depreciation is considered synonymous with its antipode – depreciation of fixed assets. And instead of at least solving the problem of the targeted use of accumulated financial resources for the simple reproduction of non-current assets, in many cases not only depreciation of fixed assets, but even the capital of the enterprise is directed to the payment of dividends. In addition, the current fashion for foreign-language terms distracts scientists from unsolved problems of methodological support of accounting, obscuring them with verbalism of ephemerality, which never end with at least some pragmatic methodological developments, but only verbose attempts to convince them of their pseudo-relevance, as a result of which the accounting theory goes astray. The possibility of solving the current paradoxes regarding the main accounting categories by using the achievements of predecessors, which are recognized by the classics of accounting theory, is substantiated.

Looking for the Fusion of Cultural Environment and Modernity in a Cityscape: Western Gate in Jelgava

The research is based on the examination of the cityscape transformation processes and a search for the fusion of the cultural and historical space and the trends of contemporary modernism in architecture. Over the last three centuries, Jelgava (Mitau), the capital of the former Dutchy of Courland, has changed the height, the density and the structure of its building. The process of transformation was determined by crisis situations in the state, by rapid growth of the trade and domestic economy, as well as by the period of state independence and downfall of the national economy. Splendour and misery of the city has raised and destroyed houses, parks and churches in Jelgava.The historical map of the city originates in the beginning of the 18th century on the left bank of the Lielupe River with a linear building canvas formed by small wooden houses and a net of dirt roads. During the 19th-20th centuries, the city is developing radially around the ancient central built-up area, sketching the structure of the city map based on the network of the trading routes: the Western gate – Dobele, the Northern gate – sea, the Southern gate – Lithuania. The East is a crossing point to reach Jelgava Palace. The direction to Riga led along the river, as the eastern part was a marshland.

China: capital flight or renminbi internationalization?

During 2014–2016, many analysts have claimed the occurrence of a capital flight in China due to the reduction of the country's foreign reserves by over US$800 billion. This paper aims therefore to answer the question: did China really undergo a capital flight in this period? Its methodology includes a detailed analysis of the Chinese external stocks and flows between 2014 and 2016, and an examination of the currency hierarchy and the international usage of the renminbi (RMB). The authors conclude: the fall in the foreign reserves that occurred in China in 2015–2016 was partially due to (i) a strategy of the Chinese government to diversify its international assets; and (ii) Chinese residents (private entities) increasing their foreign-asset holdings. Besides that, there did indeed occur a capital flight in China in 2015–2016, mostly due to a reduction of the non-resident deposits and loans, but these outflows were partially in RMB. Due to that core difference, the effects on the domestic economy are much lower. Furthermore, the RMB outflows may contribute to the internationalization of the RMB.