Postgraduate Professional Education in China: Control Mechanisms and Learning Process

China’s strong economic growth is undoubtedly due to a set of government initiatives, among which the priority projects are the reform of the higher education system. Since the 80s of the last century, the state has paid special attention to the training of scientific personnel. Thanks to far-sighted state planning and strong budget financing, China has created a competitive national system of postgraduate professional education almost from scratch. As a result, if only 9 postgraduate students were trained in 1978, then in 1985 – already 17004, in 1998 – 47077, and in 2018 – 604368. The number of doctorates degrees awarded from 2005 to 2018 more than doubled: from 27,677 to 60,700.The important factors in the formation of the system of postgraduate education is the promulgation of national laws and regulations governing this area of educational activity, a well-built mechanism for managing the work of postgraduate studies and a strict system to control all stages of the educational process for masters and doctoral students. Therefore, this article focuses on the organization of the learning process in Chinese universities and academic institutes, as well as the management mechanism of the national system of training scientific personnel.In addition, according to the data of China's Ministry of education, official statistical information, publications that are publicly available on the Chinese Internet, as well as scientific articles published in major publications around the world, it is shown how the number of universities and academic institutions that train masters and doctoral students, as well as the number of students, admission and graduation of specialists have changed over the past ten years.

The Impact of Monetary Policy on the Investment Complex of Russia

An active discussion continues in Russia regarding the monetary instruments used and the degree of their impact on economic dynamics. The article examines the impact of the monetary policy implemented by the Central Bank of the Russian Federation on the investment complex in the period from 2000 to 2021. For this period, an analysis of the dependence characterizing the investment complex of Russia on the monetary policy is carried out. In the paper, the investment complex is considered with a breakdown into mechanical engineering, residential and non-residential construction, investments in fixed assets. At the same time, mechanical engineering is studied in detail with a breakdown into subsections of Russian National Classifier of Economic Activities and, additionally, for five enlarged industries. Most of the constructed regression equations demonstrate a statistically significant effect of indicators that are influenced by monetary policy instruments on the dynamics of the main indicators of the investment complex. For example, the interest rate affects the overwhelming number of variables under consideration, and the money supply affects each type of investment in fixed assets, in contrast to other independent variables. For the predominant part of the equations, the value of the coefficient of determination is more than 80%, which indicates a good quality of the model and reliably selected explanatory variables. Based on the results of the calculations, it was concluded that monetary policy has an impact on the investment complex of Russia. This determines its importance for the formation of promising dynamics of the Russian economy.

Dynamics of Small and Medium-Sized Enterprises Tax Revenues of the Oil and Gas Regions of Western Siberia Budgets in the Period COVID-19

During the COVID-19 pandemic, Small and medium-sized enterprises have been significantly affected. Domestic measures of state support, including tax incentives, have become an important support factor. The corresponding Resolution provided for the expansion of opportunities to support the implementation of regional support measures. We found that the choice of a model of behavior by the regional authorities in our case depended on the level of favorable regional environment for the development of SMEs, as well as the level of diversification of regional production. We carried out an initial comparison of the consequences of the implementation of different support models in three similar regions and predicted the impact of the implemented regional support model on the future development of SMEs. The costs of the region for additional support measures, calculated as the lost budget income, in terms of one employee employed in medium and small businesses, turned out to be very insignificant. We draw a conclusion about the high economic and political efficiency of support measures associated with reducing the tax burden. It can be said that the regions that did not expand the support measures provided for by Resolution № 409 at the expense of the regional package missed the chance to convert small funds in support of the population.

Methodology for Assessing Synergy Effect of Inter-Organizational Interaction in a Tourist-Recreation Network

Interorganizational interaction is an intangible asset that ensures effective functioning and sustainable competitive advantage of enterprises in the long term, including the tourism and recreation industry. In the new business environment, the success of tourism and recreation enterprises is highly dependent on the effectiveness of interaction with business partners that form the value chain of the tourism product. This actualizes the importance and necessity of the appearance of relevant theoretical and espirical research.The authors presented a literature review that allowed us to form a list of the advantages of interorganizational interaction as a result of collaboration in the tourist and recreational network. At the same time, the authors conclude that the assessment of real economic effects as a result of the collaboration of enterprises in the tourism industry currently remains an insufficiently developed area of knowledge of new economic sociology. In the article, the phenomenon of interorganizational interaction in the tourist and recreational network is investigated in the focus of the emerging synergistic effects. Based on the use of the cost-based approach, the authors have developed a method for assessing the synergistic effect of inter-organizational interaction in the tourist and recreational network. The proposed method was tested on the example of a large tourist and recreational network operating in the Irkutsk region. The approach presented by the authors to assessing the synergistic effect of interorganizational interaction in the tourist and recreational network of the territory can be used both when assessing the feasibility of creating a new tourist and recreational network as a result of combining autonomous tourist and recreational enterprises, and when expanding the existing alliances of the tourist and recreational sphere by increasing the number of new enterprises in its structure

Blockchain and Smart-Contracts in terms of Economics

In this paper the author’s interpretation of essence and applicability of smart-contracts in economics. Examples are given along with critical view on wrong statements, found in publications on examined topic. Repeating of certain theses from similar papers won’t be redundant, because it will help to observe the topic from different point of view. In general, author gives positive valuation of applicability of smart-contracts technology in economics (both, financial and real sector, despite of some obvious inherent disadvantages of current implementation in Ethereum. In author’s opinion, integration of smartcontracts and blockchain with IoT can give synergetic effect and consider real cyber-social interaction. Certain value to this paper is added by author’s practical experience of coding and adopting smart-contracts. Smart-contracts are mentioned by Bank of Russia with implementation of CBDC (Central Bank Digital Currency) concept in the form of digital rubble and receive additional significance in current trend of dematerialization and virtualization of money. In paper essential terms and author’s point to ability to change contract terms after deploy are given.

Causal Relationship between Environmental and Financial Indicators of Russian Industrial Companies

The high level of negative impact on the environment and the deterioration of its quality necessitate the greening of production and economic activities. The purpose of this study was to determine the direction and degree of the causal relationship between the environmental and financial indicators of Russian industrial companies. Taking into account the lack of a systematic study of the relationship between the level of environmental responsibility of Russian companies and their financial condition, as well as only single works analyzing all possible types of causation of corporate indicators, the stated goal looks relevant and significant. The research methodology assumed the use of applied statistics methods. In the course of the work, the direction and strength of the correlation were determined for different periods of time both between individual environmental and financial indicators, as well as for their aggregation. It was shown that the predominantly financial interests of Russian industrial companies and public env ironmental interests are weakly but positively interrelated, except for such objects as air pollution and waste. It is concluded that there is an institutional trap in the stock mark et that prevents an effective transition to a green economy. Recommendations are given for increasing the level of greening of Ru ssian companies. The conclusions drawn expand knowledge in the field of green economy and green finance in particular. The practical importance of the work for corporate managers is determined by the ability to predict the dynamics of environmental and financial indicators when developing plans to increase the level of environmental responsibility of the company, and for state and municipal authorities – the ability to effectively motivate companies to green their activities.

Analysis of the Capital Structure of Commercial Banks

The article presents a regression analysis of banking determinants and their impact on the capital structure of banks for the period 2011–2019 on an extensive statistical base of the countries of India, Russia, China, the USA and banks in the Eurozone. The study proceeds and is based on the empirical results of the analysis of the structure of bank capital, carried out for individual countries up to the specified period. These results turned out to be quite contradictory regarding the significance of different determinants of the structure of bank capital. Understanding the influence of the determinants on the stability of the banking system, the article attempts to explain the differences for the period 2011–2019, when the countries' banking systems adopted the Basel 3 capital adequacy requirements. It is shown that 1) the capital structure of banks is influenced not only by banking determinants, but also by development conditions, regulatory institutions, the state of the economy, which is evidence of the need to analyze the problems of forming the capital structure of banks by countries, types of banks, etc.; 2) banking determinants between 2011 and 2019 explain the variation in bank capital structure to a significant extent and regulatory action is relevant for all countries. From the point of view of the peculiarities of the formation of the structure of bank capital and the role of the regulator in this case, directions of modification of relevant theories of capital structure are proposed.

Analysis of Features of Functioning and Assessment of Development of Mechanical Engineering Enterprises of the Irkutsk Region

The disparity between the contribution of the mechanical engineering industry to the formation and development of the national economy and its potential determines the need to study the specifics of the activity and develop a set of measures aimed at a breakthrough, the basis of which should be the modernization of the complex and, aimed at sustainable development, the improvement of management. Mechanical engineering enterprises in the Irkutsk region form one of the key sectors of the economy. The degree of their development directly affects the stable functioning of such industries as logging, woodworking, energy, petrochemicals, metallurgy, as well as the quality of life of the region's population. The article presents a research and assessment of the state, features, and trends in the development of enterprises of the national mechanical engineering complex located in Irkutsk region. The problems and factors hindering the development of regional mechanical engineering production are identified. The article presents the justified directions of its development prospects obtained using the monographic method, the method of expert assessments, analysis and synthesis. Possible ways to improve the efficiency of industrial enterprises are proposed. These studies can serve as a basis for developing a rational industrial policy in relation to the mechanical engineering industry of the Irkutsk region and improving the efficiency of the mechanical engineering complex. A purposeful policy for the development of the machine-building industry will make it possible to create conditions for solving issues of strategic innovative development.

Purchase Planning for Minimum Assortment Goods Given the Uncertainty of Demand

Some retailers (e.g. pharmacies) are responsible for satisfying the demand for the minimum range of goods, which are generally unprofitable. With respect to such goods, the enterprise seeks to satisfy uncertain demand rather than to make profit. We assume that: (a) the vector of demand for goods of the minimum assortment in the planning period lies “between” the demand vectors of several previous periods (is a convex linear combination of these vectors); (b) the smaller the maximum unsatisfied demand (by product groups and possible vectors of demand), the greater is the reliability of meeting the demand. Under these assumptions, we address the problem of allocating a limited procurement budget among commodity groups to meet uncertain demand most reliably. The article shows that this problem is equivalent to finding an optimal strategy by Wald’s criterion in some game with nature and can be reduced to a linear programming problem. Using the problem features, we propose a fast (having quadratic complexity) algorithm for constructing an optimal procurement plan. The model can be used when planning the minimum assortment goods procurement in order to maximize the meeting demand reliability, achievable within the allocated budget. As far as we know, such a formulation of the problem has not been studied in the previous literature.

Cost as Calculation Category

The article considers the possibility of calculating indicators of the theoretical cost category using modern inter-industry interregional tools for forecasting economic development. The principles of displaying production relationships implemented in them and the resulting calculated indicators in the cost dimension do not contradict the categories of classical political economy. In parallel, the concept of redistribution of nominal value by means of Finance between interconnected producers and consumers was introduced when applying the intersectoral approach. The paper provides an example of calculations. The usual financial statements are used as an instrumental basis, but the number of employees is set as an input measure of all costs. As a result, all calculated data: prices (aggregated prices), indices of their changes in dynamics, current financial flows are recalculated in labor costs. The tables below represent the corresponding indicators aggregated by region. Despite the proximity of the financial and cost categories, the use of cost characteristics in financial instruments to calculate them affects the quantitative results to a certain extent. In particular, comparison of indicators of forecasts of financial and cost statements of tasks connected with one initial base of tasks of material composition shows the following. The dynamics of changes in the total income of the population, budgets, volume of loans, etc. for indicators in value units are overwhelmingly lower than the corresponding values of the mentioned purely financial task. This suggests that the rates calculated in current prices (the financial task) have a greater inflationary impact than similar indicators calculated in value units. Or, regional differentiation of calculated units of product value above the corresponding indices of consolidated prices of purely financial statements. To a certain extent, this is due to the fact that the task adopted assumptions for a certain alignment of economic activity conditions by region due to the differentiation of Federal taxes.