<?xml version="1.0" encoding="UTF-8"?>
<!DOCTYPE article PUBLIC "-//NLM//DTD JATS (Z39.96) Journal Publishing DTD v1.3 20210610//EN" "JATS-journalpublishing1-3.dtd">
<article article-type="research-article" dtd-version="1.3" xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xml:lang="ru"><front><journal-meta><journal-id journal-id-type="publisher-id">finance</journal-id><journal-title-group><journal-title xml:lang="ru">Финансы: теория и практика/Finance: Theory and Practice</journal-title><trans-title-group xml:lang="en"><trans-title>Finance: Theory and Practice</trans-title></trans-title-group></journal-title-group><issn pub-type="ppub">2587-5671</issn><issn pub-type="epub">2587-7089</issn><publisher><publisher-name>Financial University under The Government of Russian Federation</publisher-name></publisher></journal-meta><article-meta><article-id pub-id-type="doi">10.26794/2587-5671-2024-28-5-133-145</article-id><article-id custom-type="elpub" pub-id-type="custom">finance-3184</article-id><article-categories><subj-group subj-group-type="heading"><subject>Research Article</subject></subj-group><subj-group subj-group-type="section-heading" xml:lang="ru"><subject>ЭКОНОМИКА СОЦИАЛЬНОЙ СФЕРЫ</subject></subj-group><subj-group subj-group-type="section-heading" xml:lang="en"><subject>ECONOMICS OF SOCIAL SPHERE</subject></subj-group></article-categories><title-group><article-title>Финансово-инвестиционные модели социального обеспечения и устойчивого экономического роста</article-title><trans-title-group xml:lang="en"><trans-title>Financial and Investment Model for Social Security and Sustainable Economic Growth</trans-title></trans-title-group></title-group><contrib-group><contrib contrib-type="author" corresp="yes"><contrib-id contrib-id-type="orcid">https://orcid.org/0000-0001-5410-7506</contrib-id><name-alternatives><name name-style="eastern" xml:lang="ru"><surname>Aн</surname><given-names>Дж.</given-names></name><name name-style="western" xml:lang="en"><surname>An</surname><given-names>J.</given-names></name></name-alternatives><bio xml:lang="ru"><p>Джэхён Ан, PhD, доцент</p><p>Сеул</p></bio><bio xml:lang="en"><p>Jaehyung An, Cand. Sci. (Econ.), Assoc. Prof.</p><p>Seoul</p></bio><email xlink:type="simple">jaehyung.an@yahoo.com</email><xref ref-type="aff" rid="aff-1"/></contrib><contrib contrib-type="author" corresp="yes"><contrib-id contrib-id-type="orcid">https://orcid.org/0000-0003-2478-0307</contrib-id><name-alternatives><name name-style="eastern" xml:lang="ru"><surname>Михайлов</surname><given-names>A. Ю.</given-names></name><name name-style="western" xml:lang="en"><surname>Mikhaylov</surname><given-names>A. Yu.</given-names></name></name-alternatives><bio xml:lang="ru"><p>Алексей Юрьевич Михайлов, кандидат экономических наук, доцент, исследователь</p><p>Москва; Азербайджан, Баку</p></bio><bio xml:lang="en"><p>Alexey Yu. Mikhaylov, Cand. Sci. (Econ.), Assoc. Prof., researcher</p><p>Moscow; Republic of Azerbaijan, Baku</p></bio><email xlink:type="simple">alexeyfa@ya.ru</email><xref ref-type="aff" rid="aff-2"/></contrib><contrib contrib-type="author" corresp="yes"><contrib-id contrib-id-type="orcid">https://orcid.org/0000-0001-5237-5347</contrib-id><name-alternatives><name name-style="eastern" xml:lang="ru"><surname>Юсиф</surname><given-names>Н. Б.А.</given-names></name><name name-style="western" xml:lang="en"><surname>Yousif</surname><given-names>N. B.A.</given-names></name></name-alternatives><bio xml:lang="ru"><p>Нагва Бабикер Абдалла Юсиф , PhD, доцент</p><p>факультет социологии</p><p>Аджман</p></bio><bio xml:lang="en"><p>Nagwa B. A. Yousif, PhD, Assoc. Prof.</p><p>Department of Sociology</p><p>Ajman</p></bio><email xlink:type="simple">nagway37@gmail.com</email><xref ref-type="aff" rid="aff-3"/></contrib></contrib-group><aff-alternatives id="aff-1"><aff xml:lang="ru"><institution>Колледж бизнеса, Университет иностранных исследований Ханкук</institution><country>Южная Корея</country></aff><aff xml:lang="en"><institution>College of Business, Hankuk University of Foreign Studies</institution><country>Korea, Republic of</country></aff></aff-alternatives><aff-alternatives id="aff-2"><aff xml:lang="ru"><institution>Финансовый университет; Западно-Каспийский университет; Бакинский Евразийский университет</institution><country>Россия</country></aff><aff xml:lang="en"><institution>Financial University; Western Caspian University; Baku Eurasian University</institution><country>Russian Federation</country></aff></aff-alternatives><aff-alternatives id="aff-3"><aff xml:lang="ru"><institution>Колледж гуманитарных и естественных наук, Университет Аджмана; Исследовательский центр гуманитарных и социальных наук (HSSRC), Университет Аджмана</institution><country>Объединенные Арабские Эмираты</country></aff><aff xml:lang="en"><institution>College of Humanities and Sciences, Ajman University; Humanities and Social Sciences Research Centre (HSSRC), Ajman University</institution><country>United Arab Emirates</country></aff></aff-alternatives><pub-date pub-type="collection"><year>2024</year></pub-date><pub-date pub-type="epub"><day>30</day><month>10</month><year>2024</year></pub-date><volume>28</volume><issue>5</issue><fpage>133</fpage><lpage>145</lpage><permissions><copyright-statement>Copyright &amp;#x00A9; Aн Д., Михайлов A.Ю., Юсиф Н.Б., 2024</copyright-statement><copyright-year>2024</copyright-year><copyright-holder xml:lang="ru">Aн Д., Михайлов A.Ю., Юсиф Н.Б.</copyright-holder><copyright-holder xml:lang="en">An J., Mikhaylov A.Y., Yousif N.B.</copyright-holder><license xml:lang="ru" license-type="creative-commons-attribution" xlink:href="https://creativecommons.org/licenses/by/4.0/" xlink:type="simple"><license-p>Данная работа распространяется под лицензией Creative Commons Attribution 4.0.</license-p></license><license xml:lang="en" license-type="creative-commons-attribution" xlink:href="https://creativecommons.org/licenses/by/4.0/" xlink:type="simple"><license-p>This work is licensed under a Creative Commons Attribution 4.0 License.</license-p></license></permissions><self-uri xlink:href="https://financetp.fa.ru/jour/article/view/3184">https://financetp.fa.ru/jour/article/view/3184</self-uri><abstract><p>   Предметом исследования являются модели социального обеспечения населения.</p><p>   Актуальность обусловлена тем, что государства все чаще сталкиваются с глобальными проблемами, требующими дополнительных ресурсов от правительства и ограничивающих степень покрытия социальных рисков механизмами и моделями государственного социального обеспечения.</p><p>   Цель исследования — формирование финансово-инвестиционной модели социального обеспечения, способствующей устойчивому экономическому росту.</p><p>   Поставлена задача систематизировать аспекты формирования оптимальной финансово-инвестиционной модели социального обеспечения. Авторы используют методологию анализа среды функционирования (DEA) и методы неоинституционализма, что является наиболее перспективной и полной концепцией изучения структурных изменений и инвестиционных стратегий. Основные результаты исследования показывают, что инфляция может иметь отрицательное влияние на систему социальной защиты. Предложена оптимальная модель социального обеспечения для стимулирования экономического роста. Сделан вывод, что вне зависимости от разделения системы социального обеспечения на государственный и негосударственный сектора предложенная модель социального обеспечения позволит достигать синергетического эффекта и может оказать положительное влияние на качество и продолжительность жизни населения, что благоприятно скажется на показателях экономической активности и роста экономики.</p></abstract><trans-abstract xml:lang="en"><p>   The subject of the study is the models of social security of the population.</p><p>   The relevance of the research is derived from the fact that states are increasingly faced with global problems requiring more government funding and restricting how much social risk is covered by state social security mechanisms and models.</p><p>   The purpose of the study is to form a financial and investment model of social security that promotes sustainable economic growth.</p><p>   The task is to systematize the aspects of the formation of an optimal financial and investment model of social security. The authors use the methodology of the analysis of the functioning environment (DEA) and the methods of neo-institutionalism, which is the most promising and complete concept for studying structural changes and investment strategies. The main results of the study show that inflation can have a negative impact on the social protection system. An optimal model of social security is proposed to stimulate economic growth. It is concluded that regardless of the division of the social security system into the state and non-state sectors, the proposed model of social security will achieve a synergistic effect and can have a positive impact on the quality and life expectancy of the population, which will favorably affect the indicators of economic activity and economic growth.</p></trans-abstract><kwd-group xml:lang="ru"><kwd>модели социального обеспечения</kwd><kwd>устойчивость</kwd><kwd>экономический рост</kwd><kwd>неоинституционализм</kwd></kwd-group><kwd-group xml:lang="en"><kwd>social security models</kwd><kwd>sustainability</kwd><kwd>economic growth</kwd><kwd>neo-institutionalism</kwd></kwd-group><funding-group><funding-statement xml:lang="ru">Исследование Джехьюнг Ан было поддержано Исследовательским фондом Университета иностранных языков Ханкук. Университет иностранных исследований Ханкук, Сеул, Южная Корея. Исследование А. Ю. Михайлова основано на результатах бюджетных исследований по государственному заданию Финансовому университету. Финансовый университет, Москва, Россия</funding-statement><funding-statement xml:lang="en">The research of Jaehyung An was supported by the Hankuk University of Foreign Studies Research Fund. Hankuk University of Foreign Studies, Seoul, South Korea. A. Yu. Mikhailov’s research is based on the results of budgetary research under the state assignment of the Financial University. Financial University, Moscow, Russia</funding-statement></funding-group></article-meta></front><back><ref-list><title>References</title><ref id="cit1"><label>1</label><citation-alternatives><mixed-citation xml:lang="ru">Роик В. Д. Социальная политика. Социальное обеспечение и страхование. М.: Юрайт; 2023. 522 с.</mixed-citation><mixed-citation xml:lang="en">Roik V. D. Social policy. Social security and insurance. Moscow: Yurait; 2023. 522 p. (In Russ.).</mixed-citation></citation-alternatives></ref><ref id="cit2"><label>2</label><citation-alternatives><mixed-citation xml:lang="ru">Арсаханова З. A., Азиева X. X. Формирование механизма государственного и финансового регулирования социальной сферы в Российской Федерации. Экономика устойчивого развития. 2020;(4):181–185.</mixed-citation><mixed-citation xml:lang="en">Arsakhanova Z. A., Aziyeva H. H. Formation of the mechanism of state financial regulation of the social sphere in the Russian Federation. Ekonomika ustoichivogo razvitiya = Economics of Sustainable Development. 2020;(4):181–185. (In Russ.).</mixed-citation></citation-alternatives></ref><ref id="cit3"><label>3</label><citation-alternatives><mixed-citation xml:lang="ru">Samuelson P. A. The pure theory of public expenditure. The Review of Economics and Statistics. 1954;36(4):387–389. DOI: 10.2307/1925895</mixed-citation><mixed-citation xml:lang="en">Samuelson P. A. The pure theory of public expenditure. The Review of Economics and Statistics. 1954;36(4):387–389. DOI: 10.2307/1925895</mixed-citation></citation-alternatives></ref><ref id="cit4"><label>4</label><citation-alternatives><mixed-citation xml:lang="ru">Romp W., Beetsma R. Sustainability of pension systems with voluntary participation. Insurance: Mathematics and Economics. 2020:93:125–140. DOI: 10.1016/j.insmatheco.2020.04.009</mixed-citation><mixed-citation xml:lang="en">Romp W., Beetsma R. Sustainability of pension systems with voluntary participation. Insurance: Mathematics and Economics. 2020:93:125–140. DOI: 10.1016/j.insmatheco.2020.04.009</mixed-citation></citation-alternatives></ref><ref id="cit5"><label>5</label><citation-alternatives><mixed-citation xml:lang="ru">Pigou A. C. The economics of welfare. London: Macmillan &amp; Co.; 1920. 976 p.</mixed-citation><mixed-citation xml:lang="en">Pigou A. C. The economics of welfare. London: Macmillan &amp; Co.; 1920. 976 p.</mixed-citation></citation-alternatives></ref><ref id="cit6"><label>6</label><citation-alternatives><mixed-citation xml:lang="ru">Musgrave R. A. The theory of public finance: A study in public economy. New York, NY: McGraw-Hill; 1959. 628 p.</mixed-citation><mixed-citation xml:lang="en">Musgrave R. A. The theory of public finance: A study in public economy. New York, NY: McGraw-Hill; 1959. 628 p.</mixed-citation></citation-alternatives></ref><ref id="cit7"><label>7</label><citation-alternatives><mixed-citation xml:lang="ru">Moiseev N., Mikhaylov A., Dinçer H., Yüksel S. Market capitalization shock effects on open innovation models in e-commerce: Golden cut q-rung orthopair fuzzy multicriteria decision-making analysis. Financial Innovation. 2023;9(1):55. DOI: 10.1186/s40854–023–00461-x</mixed-citation><mixed-citation xml:lang="en">Moiseev N., Mikhaylov A., Dinçer H., Yüksel S. Market capitalization shock effects on open innovation models in e-commerce: Golden cut q-rung orthopair fuzzy multicriteria decision-making analysis. Financial Innovation. 2023;9(1):55. DOI: 10.1186/s40854–023–00461-x</mixed-citation></citation-alternatives></ref><ref id="cit8"><label>8</label><citation-alternatives><mixed-citation xml:lang="ru">Mikhaylov A., Dinçer H., Yüksel S. Analysis of financial development and open innovation oriented fintech potential for emerging economies using an integrated decision-making approach of MF-X-DMA and golden cut bipolar q-ROFSs. Financial Innovation. 2023;9(1):4. DOI: 10.1186/s40854–022–00399–6</mixed-citation><mixed-citation xml:lang="en">Mikhaylov A., Dinçer H., Yüksel S. Analysis of financial development and open innovation oriented fintech potential for emerging economies using an integrated decision-making approach of MF-X-DMA and golden cut bipolar q-ROFSs. Financial Innovation. 2023;9(1):4. DOI: 10.1186/s40854–022–00399–6</mixed-citation></citation-alternatives></ref><ref id="cit9"><label>9</label><citation-alternatives><mixed-citation xml:lang="ru">Mikhaylov A. Efficiency of renewable energy plants in Russia. Anais da Academia Brasileira de Ciências. 2022;94(4): e20191226. DOI: 10.1590/0001–3765202220191226</mixed-citation><mixed-citation xml:lang="en">Mikhaylov A. Efficiency of renewable energy plants in Russia. Anais da Academia Brasileira de Ciências. 2022;94(4): e20191226. DOI: 10.1590/0001–3765202220191226</mixed-citation></citation-alternatives></ref><ref id="cit10"><label>10</label><citation-alternatives><mixed-citation xml:lang="ru">Kritzer B. E., Kay S. J., Sinha T. Next generation of individual account pension reforms in Latin America. Social Security Bulletin. 2011;71(1):35–76. URL: https://repositorio.ipea.gov.br/bitstream/11058/6397/1/PWR_v4_n2_Next.pdf</mixed-citation><mixed-citation xml:lang="en">Kritzer B. E., Kay S. J., Sinha T. Next generation of individual account pension reforms in Latin America. Social Security Bulletin. 2011;71(1):35–76. URL: https://repositorio.ipea.gov.br/bitstream/11058/6397/1/PWR_v4_n2_Next.pdf</mixed-citation></citation-alternatives></ref><ref id="cit11"><label>11</label><citation-alternatives><mixed-citation xml:lang="ru">Wallis J. J., Fishback P., Kantor S. Politics, relief, and reform: The transformation of America’s social welfare system during the New Deal. NBER Working Paper. 2005;(11080). URL: https://www.nber.org/system/files/working_papers/w11080/w11080.pdf</mixed-citation><mixed-citation xml:lang="en">Wallis J. J., Fishback P., Kantor S. Politics, relief, and reform: The transformation of America’s social welfare system during the New Deal. NBER Working Paper. 2005;(11080). URL: https://www.nber.org/system/files/working_papers/w11080/w11080.pdf</mixed-citation></citation-alternatives></ref><ref id="cit12"><label>12</label><citation-alternatives><mixed-citation xml:lang="ru">Friedman M. The role of government in education. In: Solo R. A., ed. Economics and the public interest. New Brunswick, NJ: Rutgers University Press; 1955:123–144. URL: https://la.utexas.edu/users/hcleaver/330T/350kPEEFriedmanRoleOfGovttable.pdf</mixed-citation><mixed-citation xml:lang="en">Friedman M. The role of government in education. In: Solo R. A., ed. Economics and the public interest. New Brunswick, NJ: Rutgers University Press; 1955:123–144. URL: https://la.utexas.edu/users/hcleaver/330T/350kPEEFriedmanRoleOfGovttable.pdf</mixed-citation></citation-alternatives></ref><ref id="cit13"><label>13</label><citation-alternatives><mixed-citation xml:lang="ru">Fenge R., Peglow F. Decomposition of demographic effects on the German pension system. The Journal of the Economics of Ageing. 2018;12:61–76. DOI: 10.1016/j.jeoa.2018.01.001</mixed-citation><mixed-citation xml:lang="en">Fenge R., Peglow F. Decomposition of demographic effects on the German pension system. The Journal of the Economics of Ageing. 2018;12:61–76. DOI: 10.1016/j.jeoa.2018.01.001</mixed-citation></citation-alternatives></ref><ref id="cit14"><label>14</label><citation-alternatives><mixed-citation xml:lang="ru">Coelli T., Prasada Rao D. S., Battese G. E. An introduction to efficiency and productivity analysis. New York, NY: Springer Science+Business Media; 1998. 276 p.</mixed-citation><mixed-citation xml:lang="en">Coelli T., Prasada Rao D. S., Battese G. E. An introduction to efficiency and productivity analysis. New York, NY: Springer Science+Business Media; 1998. 276 p.</mixed-citation></citation-alternatives></ref><ref id="cit15"><label>15</label><citation-alternatives><mixed-citation xml:lang="ru">Bernal N., Olivera J. Choice of pension management fees and effects on pension wealth. Journal of Economic Behavior and Organization. 2020;176:539–568. DOI: 10.1016/j.jebo.2020.03.036</mixed-citation><mixed-citation xml:lang="en">Bernal N., Olivera J. Choice of pension management fees and effects on pension wealth. Journal of Economic Behavior and Organization. 2020;176:539–568. DOI: 10.1016/j.jebo.2020.03.036</mixed-citation></citation-alternatives></ref><ref id="cit16"><label>16</label><citation-alternatives><mixed-citation xml:lang="ru">Béland D., Morgan K. J., Obinger H., Pierson C., eds. The Oxford handbook of the welfare state. Oxford: Oxford University Press; 2021. 1024 p.</mixed-citation><mixed-citation xml:lang="en">Béland D., Morgan K. J., Obinger H., Pierson C., eds. The Oxford handbook of the welfare state. Oxford: Oxford University Press; 2021. 1024 p.</mixed-citation></citation-alternatives></ref><ref id="cit17"><label>17</label><citation-alternatives><mixed-citation xml:lang="ru">Attias A., Arezzo M. F., Pianese A., Varga Z. A comparison of two legislative approaches to the pay-as-you-go pension system in terms of adequacy. The Italian case. Insurance: Mathematics and Economics. 2016;68:203–211. DOI: 10.1016/j.insmatheco.2016.03.010</mixed-citation><mixed-citation xml:lang="en">Attias A., Arezzo M. F., Pianese A., Varga Z. A comparison of two legislative approaches to the pay-as-you-go pension system in terms of adequacy. The Italian case. Insurance: Mathematics and Economics. 2016;68:203–211. DOI: 10.1016/j.insmatheco.2016.03.010</mixed-citation></citation-alternatives></ref><ref id="cit18"><label>18</label><citation-alternatives><mixed-citation xml:lang="ru">Akerlof G. A. The market for “lemons”: Quality uncertainty and the market mechanism. The Quarterly Journal of Economics. 1970;84(3):488–500. DOI: 10.2307/1879431</mixed-citation><mixed-citation xml:lang="en">Akerlof G. A. The market for “lemons”: Quality uncertainty and the market mechanism. The Quarterly Journal of Economics. 1970;84(3):488–500. DOI: 10.2307/1879431</mixed-citation></citation-alternatives></ref><ref id="cit19"><label>19</label><citation-alternatives><mixed-citation xml:lang="ru">An J., Mikhaylov A. Technology-based forecasting approach for recognizing trade-off between time-to-market reduction and devising a scheduling process in open innovation management. Journal of Open Innovation: Technology, Market, and Complexity. 2024;10(1):100207. DOI: 10.1016/j.joitmc.2024.100207</mixed-citation><mixed-citation xml:lang="en">An J., Mikhaylov A. Technology-based forecasting approach for recognizing trade-off between time-to-market reduction and devising a scheduling process in open innovation management. Journal of Open Innovation: Technology, Market, and Complexity. 2024;10(1):100207. DOI: 10.1016/j.joitmc.2024.100207</mixed-citation></citation-alternatives></ref><ref id="cit20"><label>20</label><citation-alternatives><mixed-citation xml:lang="ru">An J., Mikhaylov A., Chang T. Relationship between the popularity of a platform and the price of NFT assets. Finance Research Letters. 2024;61:105057. DOI: 10.1016/j.frl.2024.105057</mixed-citation><mixed-citation xml:lang="en">An J., Mikhaylov A., Chang T. Relationship between the popularity of a platform and the price of NFT assets. Finance Research Letters. 2024;61:105057. DOI: 10.1016/j.frl.2024.105057</mixed-citation></citation-alternatives></ref></ref-list><fn-group><fn fn-type="conflict"><p>The authors declare that there are no conflicts of interest present.</p></fn></fn-group></back></article>
