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Russian Journal of Industrial Economics

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Vol 15, No 2 (2022)
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Theory and practice of strategy

131-142 694
Abstract

The practice of using quantitative models of socio-economic development to fulfil the tasks of regional strategizing is a common trend. However, the significance and the area of practical application, functionality and, consequently, the effectiveness of applying such models in the context of strategizing is still a matter for further research. The article deals with the methodology and the instruments of strategizing which combines analysis, forecasting and management procedures oriented on the balanced assessment and search for the priority development trends in the conditions of increasing resource limitations and external threats. The authors developed a universal economic-mathematical model of functioning of the socio-economic system of the region. The system reproduces the dynamics of the key processes, the suggested instruments automatically form and work out the predictive options for advanced development. Algorithmic technique used for modelling provides the opportunity for effective reduction of dimension of the space of variables for the tasks of searching and analyzing indicators’ dependencies on factors, excluding the need for direct accounting of hard-to-distinguish mutual dependencies of initial statistics indicators and actually reducing the problem to building paired linear regressions of the indicator indices to factor indices. The authors also have solved the task of evaluation of attainability of the declared target landmarks in preparing long-term targeted programs. Using the designed application as the instrument of strategizing of regional development may significantly facilitate the search for and justification of important areas of economic activity in terms of global uncertainty and limited resources.

Financial management

143-152 516
Abstract

The article presents the study of the problem of stimulating the Russia federal budget financing. The authors study innovation in taxation legislation including deoffshorization, the stages of its implementation, structure, current state and the results achieved. The topicality of studying this government approved activity is justified by significant financial outflow abroad. The national measures of fighting offshores are adduced in the article. Russia has joined international conventions on cooperation in taxation and fight against tax evasion. Moreover, in 2018 the country implemented the OECD system for mutual data exchange on foreign accounts, property and assets, that is, the standard of automated exchange of financial information called the Common Reporting Standard. The analysis conducted by the authors proves the hypothesis about shifting priorities of private companies towards huge dividend payments instead of investments in development of their own business and the whole industry. Big private companies being the core of economy are interested in preserving offshore locations with preferential taxation terms. Major threats the government faced were connected with loss of control over strategic assets in fuel and energy complex, metallurgy, machine engineering, defense production and, consequently, with failure to administer the economy. In this situation, the government faces a complicated task of controlling the use of offshore locations and present alternative and perspective options for private business. The initiated deoffshorization should become the starting point for the development of different financial instruments and mechanisms on stimulating investment in federal budget. The authors study the probable tool aimed at maintaining the process of additional financing of the state budget. Modernization of reporting and introduction of additional progressive allowances to the existing taxation can become such an instrument.

153-166 686
Abstract

The article in hand presents the authors’ position regarding the current state and prospects for development of crowdfunding and modern financial technology (FinTech) in the US and European practices, as well as in those of the Russian Federation at the end of the 2021 financial year. The authors study the basics of crowdfunding as financial innovations in lending and investment and distinguished seven basic types of crowdfunding. They also present the results of the complex analysis of the FinTech function mechanisms in the sphere under consideration. The article contains the performance results of five largest American crowdfunding web-sites (AngelList, Kickstarter, Fundable, EquityNet и WeFunder) and the most successful European investment platforms (Ulule, Startnext и CrowdFunder). The authors examine specific features of applying FinTech in lending and investment of the Russian Federation. The carry out the historical and territorial analysis using the registration data of all investment platforms in the official “Register of investment platform operators of the Central Bank of the Russian Federation”. Using the analysis of factual financial data at the end of 2021 from 59 companies registered as investment platforms in the above mentioned register the authors conducted financial analysis of their performance. They found out that only 50% of the companies under study were able to attract investment for financing at least one investment project. It has been stated that only 16 companies in the Russian Federation can be more attractive for private investors compared to other crowdfunding platforms, as at the end of 2021 they did not have any unfulfilled investment obligations. The article shows that development of the Russian crowdfunding law is going on systematically, because the ideas of collective financing of different small and medium business projects are actively supported at the government level.

Environmental economics

167-176 526
Abstract

The development of hydrogen energy in the Russian Federation has been interfered by a number of serious problems and issues connected with the innovative nature of this sector of economics. The problems include lack of experience in production, storage and transportation of “green” hydrogen. The development results within the Concept for the development of hydrogen energy present the Russian Federation as the largest exporter of hydrogen by 2050. The Concept estimates the future hydrogen production volumes to be as high as 200,000 tons by 2024, from 2 to 12 million ton by 2035 and from 15 to 50 million ton by 2050. Currently, there are projects on producing “green” hydrogen through electrolysis of water at hydroelectric stations. Moreover, there are different methods of hydrogen storage used in the Russian Federation. However, there is no transportation infrastructure for “green” hydrogen. Therefore, in order to build up transportation infrastructure the authors use economic calculations to consider and actualize the routes for transportation of the “green” hydrogen. To evaluate the profitability the infrastructure and the routes were created for transporting the “green” hydrogen as the export raw material produced in the Niznekamskya HES (Naberezhnye Chelny, Republic of Tatarstan, Russia) to the EU countries. The authors consider waterways, land routes and pipelines for delivering the “green hydrogen” as the transportation facilities and the cargo routes. They evaluate the indicators which characterize the “green” hydrogen transportation by means of waterway, railway and automobile transport and pipelines. The authors estimate the comparative payback periods for the hydrogen transportation by means of waterway, railway and automobile transport and pipelines along their main routes according to the hydrogen market price.

177-188 592
Abstract

The article examines the current situation in the world production and consumption of the liquefied natural gas (LNG). The main global trends as well as the reasons for significant growth in LNG consumption in most countries are analyzed. The authors also study the structure of global import of LNG and the opportunities for increasing supplies by the Russian energy companies. Russian companies are primarily supplying LNG to European countries. However, the results of the analysis show high export potential of the Asian market. Realizing the potential is the most important strategic task for domestic energy companies. The article also examines the history and the current process of developing LNG production on the Russian territory. The authors reveal various aspects of the current implementation of such projects as “Yamal LNG” and “Arctic LNG 2” within the Arctic area of the Russian Federation. Particularly, the authors describe development of transportation-logistics system as part of these projects. Moreover, the article contains the analysis of the problem of ensuring technological independence in the process of implementation of LNG projects. Russian energy companies should increase their technological independence and localization of production by consistent implementation of the import substitution strategy. One of the solutions in ensuring technological independence is innovation technology of natural gas liquefaction “Arctic Cascade”. The article presents the detailed technical and economical aspect of implementing this technology. Using this technology ensures 30 % reduction of the LNG production cost price. Besides, this innovation technology can ensure 100 % localization of production.

189-197 420
Abstract

The article presents the model for social-ecology-economic acceptable and sustainable development based on the mutual subordination of subsystems. The model was created within the concept of sustainable development and is based on the principle of use of matter and energy by living organisms and the principle of circularity of matters in the biosphere. The authors study the problem of the sustainable development evaluation of the systems and their integral indicators. The most popular and even globally recognized methods have one major flaw that is applying financial indicators in sustainability evaluation. The authors suggest using universal units of measurement for quantitative characteristics of evaluation of development sustainability both of the biosphere as a whole and of socio-economic-environmental systems or social, economic and environmental systems taken separately.

Regional economy

198-205 497
Abstract

Due to the fourth industrial revolution evolution, the regional economy faces the need for adapting to the new conditions related to the expanding Industry 4.0 processes. This issue requires studying and scientific understanding of the transformations in the regional industrial structure and building up a new technological core. To this end the author of the article considers and thoroughly describes the compound category of the regional industrial structure transformation in the context of the key theories and basic concepts of the regional economic development and the requirements of the technological revolution. Aspects of modern trends in the development of the theory and methodology of the regional economy are considered in detail, taking into account the stage of technological evolution and industrial transformations. The author used structural-logical and context analysis as the basis for actualization of defining the transformation of the regional industrial structure as the state of compliance of the trajectory of changes in the sectoral industrial structure of the region with naturally emerging elements of the new way of life.

206-213 454
Abstract

The article is devoted to the development of measures for complex support of monoprofile municipal entities. These measures have aimes to improve their socio-economic situation. The topicality of the study is that in many mining monoprofile municipal entities (MME) there are socio-economic problems the solution of which affects the life quality of their 1.26 million residents and the performance of 41 out of 58 mines of the country. The authors used decomposition of city-forming enterprises of MME of the Russian Federation and depending on the type of their economic activity worked out special measures on developing mining MME grouped according to three directions. The article presents the results of analysis of the socio-economic situation in mining MME of the Russian Federation. The analysis was conducted on the basis of the data about the quality indicators of the town environment, the number of residents, average unemployment rate, average number of employees of city-forming enterprises and the number of employees to be dismissed. The authors present the results of financial analysis of the city-forming enterprises involved in underground coal mining. The results of the analysis provided the opportunity to give recommendations on the possible directions for development of mining MME and suggest the measures for improving their socio-economic situation. The measures take into account social, natural-geographical and financial-economic aspects of development of such municipal entities.

214-225 674
Abstract

Russian economy is characterized by significant heterogeneity of the economic environment. The ongoing structural and institutional transformations at the global and national levels reinforce the differentiation of the starting conditions for the territorial development in the social and economic level and the quality of life. Despite sufficient knowledge and maturity of theory and methodology of regional economics and its interdisciplinary nature, there are still some unsolved problems. These problems are connected with identifying the essence of territorial-sectoral differentiation which determines the need for the study in hand. It is based on the research conducted by the foreign and domestic authors who have contributed to the development of the theory of regional economy. The methods of the research mainly include the general scientific research methods, such as analysis, synthesis, abstraction, comparison, classification. To accomplish the tasks the authors use semantic analysis of literary sources. The analysis conducted and the classification of theoretical approaches to the description of territorial-sectoral differentiation made it possible to define the key features of the category. The authors tried to define the term of “territorial-sectoral differentiation” and thus, they expanded the area of the study and actualized the research within the framework of the problem under study. The definition of the territorial-sectoral differentiation allows making certain contribution into development of the theory of regional economics, expand the area of the research and point out the interdisciplinary nature of the area under study.

Business economics

226-233 790
Abstract

With the progress of science and technology, the world is experiencing rapid digital transformation, new technologies and new business models are developing, digital technology and traditional industries are expanding their integration and involvement levels, and the economies and societies of various countries are increasingly entering the digital age. The overall scale of the world’s digital economy continues to grow, and the proportion of the digital economy is increasing, but the development between regions is uneven, and the problem of the digital divide is highlighted. The level of digital economic development is highly related to the overall level of economic development. The overall level of digital economy development in advanced economies is higher, the digital economy is larger, and the digital economy accounts for a higher proportion of the total domestic economy. It has entered a highly digitized stage, and the world’s major Internet companies and high-tech companies are also highly concentrated in these countries and regions. The article presents the results of a comparative analysis of the strategies of Chinese companies in the digital economy. The work was written in accordance with the strategy methodology of the Foreign Member of the Russian Academy of Sciences (Life-time), Dr.Sci. (Econ.), Professor Vladimir L. Kvint. The author pays considerable attention to the current state and forecasts of the digitalization of the Chinese economy, the connection between digital transformations and the growing need of the population to improve technologies that simplify their life. Based on statistical data, the author determines the advantages and disadvantages of existing digital technologies, states the deepening of their integration with the industrial sector. Analyzing the strategies of the largest digital campaigns, the author reveals the dynamics of the use of applications developed by them by citizens. In conclusion, a conclusion is made about the importance and rapid spread of digital technologies, as well as the need for states interested in their development to create conditions for the latter.

Human resources management

234-242 768
Abstract

The article presents strategic analysis of labour market of the Amur region using the data taken from HeadHunter and SuperJob web-platforms. The analysis can be regarded as an important component of strategizing the employment of the population of the region. According to the theory of strategy and methodology of strategizing Vladimir Kvint, the final goal of the implementation of any strategy (global, national, regional, sectoral, corporate and personal) is improvement of the quality and standard of human life. Identifying interests in developing employment of the regional population is the most important stage of strategizing because finding out the real situation can make it possible to establish the priorities that will both correspond with the trends and meet the needs of the employment of the regional population. To conduct strategic analysis of labour resources of the Amur region the author makes use of the theory and methodology of strategizing by Vladimir Kvint. According to the theory strategic analysis involves examining internal and external factors of the object of strategizing. The external factors include global, national, regional and sectoral trends. To analyze internal factors affecting the development of labour resources of the Amur region the author analyzed the information about vacancies in the companies and resumes of the applicants located in the region. The information was taken from the largest employment web-platforms in Russia – HeadHunter and SuperJob. One of the most popular methods of labour market analysis abroad is analyzing employment web-platforms. This method involves such positive features as efficiency, data accessibility and large population size which provides the opportunity to make representative sample.



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ISSN 2072-1633 (Print)
ISSN 2413-662X (Online)