Methdology for defining key performance indicators of development institutions as exemplified by the national project “Small and Medium-Sized Business”

Approaches to the methodology for calculating key performance indicators for development institutions as part of their contribution to national development goals achievement has been reviewed. It has been shown that, depending on the methodology used, the value of this indicator can vary by up to 5 units, with each approach being relevant for a particular task. Using the example of an indicator in one of the areas of the national project “Small and Medium-Sized Business” (training activities) as an example, an integrated approach has been proposed to balance solution of the objectives of optimal spending of the federal budget and increasing the public outreach of its results.

Institutional structure formation of the global green finance market

The article studies the strategic directions of the Eurasian Development Bank as an important element of the institutional structure of the global green finance market.The current differentiated global structure of green finance market institutions has been shown, and the substantive focus of organisations at two levels of the institutional structure of this market has been shown. A statistical overview of green finance institutions by country, region, type and financial instruments used has been made. The role of multilateral development banks in the structure of such institutions has been shown. The need for the formation of institutions in the green financial market segment as a necessary element of green finance has been substantiated.The structure of institutions on two levels has been given: 1) subjects – participants of the green bond market; 2) a set of institutions developing and shaping the methodology for green financial instruments assessment, standards, taxonomy, ratings. Using the global green bond market as an example, up-to-date statistics and analysis of the broader composition of issuers of green financial instruments by country, world region, sovereign and corporate participants, and development institutions have been presented. Emphasis has been placed on public issuers and the participation of multilateral development institutions in financing green economy projects in various countries. The experience of Eurasian Economic Union countries in developing green finance has been summarised and the prospects for Russia and Kazakhstan in the green finance movement have been noted.The institutions of the differentiated structure of the global green finance market identified in the study have been grouped into two levels depending on the profile of their participation in the green economy; the directions and tools for the prospective development of the Eurasian Development Bank’s green finance activities have been defined; recommendations for prospective aspects of the methodological and analytical activities of the bank in the context of the Eurasian Development Bank Strategy 2022–2026 have been proposed.The study applied an analysis of scientific literature in the field of institutional theory, green economy and green finance, statistical, comparative, factual analysis, review and analysis of information from official websites of international development institutions, government and corporate entities, international rating agencies included in the architecture of the global green finance market.

Phenomenon of Megaprojects in Multi-Contour Economy Model

The article considers the phenomenon of megaprojects as a type of regional development institutions. It shows that megaprojects complement existing regional development corporations and regional investment forums in Russia and other countries. It is demonstrated that megaprojects are a highly controversial phenomenon, characterised not only by huge amounts of investment but also by severe violations of the planned values of time, financial costs, technical and economic results after the commissioning of the facility. In addition, the current environmental damage from megaprojects is both positive and negative, which makes it impossible to account for its impact in the overall scheme of analysis. The article concludes that megaprojects are informationally closed; therefore, it is almost impossible to collect comprehensive information on them. According to the authors, this is due to the desire of megaproject investors to become "invisible" to statistical and supervisory authorities. Otherwise, many projects may become less attractive with the ensuing risks of conservation of regions in a state of low economic activity. Approaches to assess the target efficiency of megaprojects, as well as their indirect economic efficiency, which is based on the use of the investment multiplier methodology, are proposed. Promising directions for further research on megaprojects are outlined.

State development institutions as the basis of the developed institutional environment of the national agro-industrial complex

The purpose of this article is to study the problems of identification of state development institutions in the agricultural and industrial complex, as an element of the institutional environment, as an integral part of the system of development of the national economy through state regulation of strategic development processes in the agro-industrial complex. Methods of abstraction, analysis and synthesis were used in the course of the study. Results and practical significance. The author’s research of the state regulation of the development of the national agro-industrial complex is presented in the context of the study of state programs as a form of state development institution that ensures the effective functioning of the institutional environment. The scientific novelty of the research is presented by the author's non-standard approach to the identification of state development institutions in the agro-industrial complex, the author's vision of the structure of the institutional environment for the development of the agro-industrial complex is presented, based on traditional approaches of institutionalism, two main systems of the development of the agro-industrial complex are derived, formed by the institutional environment, which in interaction form a system of strategic regulation of the national agro-industrial complex.

Government agencies overseeing municipal council funds: رقابة الأجهزة الحكومية على أموال المجالس البلدية

The research aims to identify the main internal and external monetary supplies to municipalities and their role in turning municipalities to development institutions. IN addition, this research identified the main supervision practices over the municipal councils, which are carried out by some government agencies. The effect of such practices on the adequacy of work has also been identified. the descriptive approach has been used to handle these monetary supplies based on the legislations and regulations that are related to them. the analytical approach has also been employed by analyzing some legal provisions that are related to the research. In conclusion, after having handled the surveillance of the government agencies over municipal councils funds. It is essential to show the main results that we concluded as well as stating some recommendations, which are five. Among the most important results of the study: The financial autonomy that municipalities have is not absolute and relative, which emphasizes the idea that municipalities funds are subject to control by the central authority. this can sometimes lead to imposing some restrains on the jurisdiction of the municipal councils. The study recommended Increasing the financial autonomy of the municipalities as imposing censorship over the financial autonomy may be a cause of shortage of funds.

Development of Takaful in the Russian insurance system

Subject. We consider the specifics and trends in takaful development in the conditions of the modern Russian insurance market. Objectives. The aim is to show the possibilities of takaful in the Russian insurance system, provide a brief analysis of limitations, problems and prospects for its functioning Methods. The study rests on analysis, comparison, induction and deduction, logical method, and others. Results. The need for the development of takaful in our country resulted from the fact that there is an increase in the number of Muslims, making up more than 20 percent of the population. This is indicative of prospects for growth. Furthermore, a positive trend contributing to the development of takaful is the significant volume of the property and personal insurance market in Russia, as these types of insurance are implemented in takaful in accordance with Sharia, or Islamic law. The findings can be useful for ministries and departments, management of insurance organizations and development institutions, investment, microfinance, leasing and consulting companies, financial and industrial groups, and large banks interested in providing insurance services and attracting or placing capital in accordance with Islamic financial principles. Conclusions. Thanks to takaful, the individuals of the Islamic faith have the opportunity to meet such financial needs as insurance, thereby complementing the insurance market as a whole.

Menjadikan Dewan Riset Daerah DKI Jakarta Sebagai Lembaga Intermediasi dan Alih Teknologi

Dewan Riset Daerah DKI Jakarta (DRD) dibentuk untuk memberdayakan lembaga penelitian dan pengembangan serta IPTEK pengembangan kegiatan penelitian dan pengembangan. Pelaksanaan tugas dan fungsi DRD tidak disertai peran intermediasi maupun alih teknologi, yang relatif vital, dimana didalamnya ada fungsi audit dan kliring kelayakan teknologi yang dihasilkan atau akan diadopsi melalui kegiatan penilaian tingkat kesiapterapan teknologi. Patut dipertimbangkan untuk mengubah struktur maupun kelembagaan, sehingga pemanfaatan teknologi untuk meningkatkan pelayanan maupun kesejahteraan masyarakat Provinsi DKI Jakarta dapat berjalan dengan baik. The DKI Jakarta Regional Research Council (DRD) was formed to empower research and development institutions as well as science and technology for the development of research and development activities. The implementation of DRD duties and functions is not accompanied by the role of intermediation or technology transfer, which is relatively vital, in which there is an audit function and clearing of the feasibility of the technology produced or to be adopted through technology readiness level assessment activities. It is worth considering changing the structure and institutions, so that the use of technology to improve services and the welfare of the people of DKI Jakarta Province can run well.

FEATURES OF LAND VALUATION IN PROJECT FINANCING USING ESCROW ACCOUNTS

Проведен анализ текущей ситуации на первичном рынке жилой недвижимости в рамках перехода на новые условия финансирования жилищного строительства. Выявлены преимущества внедрения проектного финансирования, а также проблемы, ограничивающие его эффективность на основе основных тенденций и направлений применения проектного финансирования в России в строительстве, при реализации инфраструктурных проектов и в деятельности институтов развития по привлечению в систему проектного финансирования частных инвестиций. Показаны принципы построения схемы для строительного проекта, реализующейся с проектным финансированием по заранее составленной модели, где применены эскроу-счета. Предложен метод оценки земельного участка при проектном финансировании с использованием эскроу-счетов. Для оценки инвестиционной стоимости земли, то есть стоимости, при которой доход от приобретения земельного участка соответствует норме интереса, установленной инвестором, или стоимости, удовлетворяющей требования инвестора к доходности конкретного проекта, рекомендовано использовать три денежных потока, а именно денежный поток от инвестиционной деятельности, финансовой деятельности и поток на собственный капитал проекта. Проведен анализ опыта иностранных государств в вопросе формирования стоимости земли в черте города и влияющих на неё факторов. Показаны преимущества оценки земельного участка при проектном финансировании с использованием эскроу-счетов: удобство, гарантии; прозрачность и поддержка. We carried out the analysis of the current situation in the primary residential real estate market as part of the transition to new conditions for financing housing construction. We identified the advantages of introducing project financing, as well as problems limiting its effectiveness on the basis of the identified main trends and areas of application of project financing in Russia in construction, when implementing infrastructure projects and in the activities of development institutions to attract private investment into the project financing system. We show the principles of constructing a scheme for a construction project, implemented with project financing according to a pre-compiled model, where escrow accounts are used. A method for assessing a land plot for project financing using escrow accounts of the intended use is proposed. To assess the investment value of land, that is the value at which the income from the acquisition of a land plot corresponds to the rate of interest set by the investor, or the value that meets the investor's requirements for the profitability of a particular project, it is recommended to use three cash flows, namely, cash flow from investment activities, financial activities and the flow on equity capital of the project. We analyzed the development of foreign countries in the context of cost formation of land within the city and relevant factors influencing this cost. The advantages of assessing a land plot with project financing using escrow accounts have also been revealed: convenience, guarantees, transparency and support.

Hightech industries for an innovative economy: Expert opinions

The most important aspect of the transition to the knowledge society is the interaction of science and industry. The article considers the triple helix theory as a basis for managing the innovative economy. The interaction of science and business can provide Russia with larger incomes, especially provided the state participation in the countrys innovative economic development. The authors analyze official documents regulating the cooperation of universities, research institutions and innovative enterprises, and the features of financing this cooperation. The article is based on the databases of the monitoring research of the Institute of Sociology of FCTAS RAS Continuous education and knowledge- intensive industries: Institutions and practices of interaction which was conducted with the financial support of the Russian Science Foundation. On the basis of 100 expert interviews conducted in 2017- 2019 in 12 regions of the Russian federal districts with key figures of innovation processes (chief engineers, leading designers, rectors, ministers, heads of development institutions, venture funds, technoparks and special economic zones), the authors describe the practices of interaction of scienceintensive companies with other participants of the innovative economy. In the framework of the triple helix theory, the authors consider the interaction of knowledge-intensive enterprises with higher educational institutions, the main challenges these enterprises face, investment legislation and risks of investment in scientific research. The authors argue that the state policy in this field needs a network of subjects that would ensure a dialogue between the state, science, business and education at different stages of creating and promoting innovative products. The authors also consider some issues of the development of innovation infrastructure, and possibilities of using the experience of other countries.

Reliable Assessment of Inflation as an Objective Necessity

The article is devoted to laying out methodological foundations for assessing the level of inflation in modern Russia. It justifies using aggregate (integral) indices to characterize price processes and determine strategic development priorities.The use of inflation indicators used in the international practice in Russia does not provide the necessary level of reliability of information about the ongoing inflationary processes in various sectors of the national economy. It does not allow us to objectively assess the current state of socio-economic development to timely capture and account for changes in the trends of strategic development. As a result, the quality of analytical work, first and foremost carried out by real sector development institutions, is reduced, which affects the effectiveness of decisions made by economic entities and public administration bodies.The authors argue that the aggregate inflation index shows a higher degree of variability in the dynamics of inflationary processes than the consumer price index since it accounts for changes in the most significant sectors of the economy, the social sphere and the financial sector.The article proposes an improved method for constructing an aggregate inflation index based on mathematical and statistical methods. It is shown that the use of an aggregated inflation index increases the objectivity of the assessment of economic growth and social progress, which makes it possible to more quickly predict the dynamics of costs and results with a sufficiently high degree of forecast accuracy.The need for regular adjustment of the composition of private indicators taken into account in the formation of the aggregate inflation index is justified by including new, more relevant indicators and excluding those that have lost their relevance.Results of the study are the conclusions obtained by analyzing the dynamic series of aggregate and partial inflation indices formed on the basis of the methodology proposed by the authors.