Экономическая политика России в условиях глобальной турбулентности.

The social vector of regulating capabilities of field-used models and their impact on social and economic development are investigated. The focus is made on the widely discussed thesis of the necessity of an organic combination of the state regulation with market self-regulation and self-development of market players.

Based on the mixed (convergent or double-track) model of social and economic development it is concluded that the state regulation should be used with better efficiency and effectiveness by creating the most favorable macroeconomic conditions for the life of population and business development. 

The formation of the contract system in the Russian Federation aimed mostly at significant improval of the efficiency and effectiveness of budget allocations for government contract payments brought into limelight the importance of the state needs, their place and role in the system of economic relations. The relevance of the topic is determined, firstly, by the lack of theoretical research into the state needs and conceptual approaches to the formation of common understanding of the effectiveness of government contract payments. Secondly, there are gaps in the legislation and law conflicts in respect of the state needs interpretation, government procurements, and, finally, government contracts. The interrelation between the state needs, procurements and contracts is analyzed. The definitions of the concepts under consideration are suggested; government procurement functions are identified, the main ones being support of the state needs and the regulatory function; the specifics of each function are described. It is concluded that the effective financial support of the state needs is impossible unless social needs are determined.

The conclusions proposed can be used in the implementation of the mid- and long-term budget planning and running the fiscal policy of the Russian Federation. A similar approach will allow a higher effectiveness of using budget funds for government contract payments and promotion of needed reforms in the current legislation. 

The paper analyzes the reasons that provoked unfair competition on the part of the USA and Ukraine against Russian companies in the defense industry market along with the US policy of imposing sanctions on Russia using the situation in Ukraine as a pretext to drive Russia out of the military production market and force the US and Canadian rules of play in this market segment.

Subject to discussion are issues of relocation or replacement of the Ukranian enterprises engaged in the production of equipment and spare parts (key parts and components for marine engines, technological equipment for tanks as well as components and assemblies for heavy nuclear missiles) for the Russian military-industrial complex, in particular for the space industry (manufacture of satellite systems and new generation launch vehicles for delivery to the International Space Station (ISS)) aimed at modernization of the military-industrial complex of Russia and revival of its industrial potential [1]. This area of the Russian economy development is viewed as extremely important in today’s increasingly competitive environment in the markets of high-tech manufacturers, and as a way out of the hydrocarbon extraction focused scenario. 

The modern information technology makes it possible not only to run business but to optimize business performance management with Business Performance Management Systems (BPM-systems). The performance management is a new approach based on the evolution of the well-known principles and laws of business management. It requires to create the advanced means of information support. To build such systems it is necessary to synthesize the theory of targeted management and balanced scorecard. However, in practice, the creation of new systems faces several problems; the most important of them can be summarized as follows: search and calculation of the index which measures the manageable efficiency; transformation of network structures that reflect target causal relationships into hierarchical ones; providing soft replacement of resources in the process of performance management; the need to use multiple-argument functions in calculations designed to find the target requirements; the need to solve problems on limitations of dynamics and ways to achieve goals.

The theory of back calculations providing transformation of strategic management requirements into the control requirements (target budget or target indicators) may be used as a platform to solve the above mentioned problems. The reasons of occurrence of these problems as well as their semantics and features are analyzed in terms of practical creation of BPM-systems. Particular attention is paid to processing of indicators measured in different scales and the transformation of network structures that reflect the causal relationships between the objectives of the enterprise into treelike ones.

The paper discusses the following functions BPM-systems: modeling and development of the balanced scorecard and strategy map of company’s operation; forecasting strategic indicators of the company and key performance indicators; adjusting the company’s goals and calculation of the planned values; monitoring the activities of company and performing financial and economic analysis of the company’s operation. 

The article discusses the innovative development of a region (based on available and newly created innovations) assuming a high quality intellectual potential. The intellectual potential of the region is understood as a set of two interrelated components — the resource potential that determines conditions and possibilities of the innovative activity and the achieved capacity representing the results of this activity. The structure of the region’s intellectual potential is shown. The principal elements of the methodology for its evaluation including the research basis, the semantic domain model, principles, objectives, functions, types, methods of assessment are described. Particular attention is paid to the development of non-financial evaluation methods based on statistical quality, use of a system of indicators, dynamics indices and ratings taking into account the entropy of partial indicators. The industrybased and statistical approaches to the assessment of the intellectual potential of the region are described. 

To date, the distinguishing characteristic of the economic structure of industrialized countries is the fact that services, knowledge and information play a significant role and replace the traditional production of material goods. The increased role of services in knowledge-intensive areas makes it necessary to monitor and evaluate the ongoing structural shifts and introduce into practice an appropriate classification system.

The first part of the article analyzes the foreign experience in classification of subjects of innovative activity, namely, the classification based upon the extent of knowledge use. Two methodologically similar classifications used abroad to monitor the manufacturing and service sectors are considered. The main feature of these classifications is the allocation of subjects of innovative activity into different aggregated blocks according to the extent of knowledge use. The first of the two classifications came into use in Russia. The idea to extend the approach used in the manufacturing industry to the service sector looks like a promising one.

The second part evaluates the importance of the service sector by analyzing the experience of some EU countries where the services represent a major element of high tech activities. The assessment is made by comparing the high-tech service sector and manufacturing sector.

Comparison is made through a series of calculated indicators that reflect the scale of production, the added value and the added value share in the production volume. The two sectors which are key factors in the development of entrepreneurial activity — small and medium high-tech businesses — are compared using indirect assessments. For all analyzed parameters, the service sector points higher than manufacturing sector. 

Given the increasing omnipresent integration and globalization, ensuring the competitiveness of regions is becoming a problem that can be solved not only by efficient use of conventional production factors (labor, land, capital) but also by revealing new aspects of the external and internal economic environment of a region.

The paper discusses the role of geostrategic and ethnoeconomic factors in the development of regional social and economic systems. The change of the external macroeconomic environment of Russian regions requires development of new approaches to regional management. The prospective areas of improving the system of priorities for regional target programs of social and economic development are substantiated in the context of transition from the sectoral to functional (horizontal) approach to their formation for peripheral regions, including the Krasnodar Territory. 

Inter-state credit institutions play a special role in the international monetary and financial relations. They contribute to the modernization of the world economy and development of economic cooperation based on mutual respect and support of strategic development programs of the members of inter-state credit institutions. Currently a comprehensive assessment of the problems and prospects of interstate banking activities in the Russian Federation is needed. Additionally, there is a necessity to develop proposals aimed at optimizing their role to meet the interests of businesses.

The work is the result of extensive research conducted by the author in 2007–2014 and the investigation into theoretical and practical principles of long-term activities of inter-state credit institutions. Also, it encompasses latest research findings, both applied and fundamental, in the field of interstate financial and economic relations, economic policy, multipolar world.

The research uses system analysis methods that ensure a high degree of research quality.

The paper suggests the most effective ways to ensure the strategic interests of the Russian Federation in the conditions of Russia’s inclusion into the global economy. It substantiates the need to strengthen the role of Russia as a member of inter-state credit institutions in international financial relations. The work is addressed to state institutions regulating inter-state financial and economic relations when developing strategic and tactical development programs as well as corporate and other bodies involved in the development of international economic relations and expansion of markets for goods and services. 

The paper analyzes different points of view on the term «innovative insurance product» and, in particular, points out those features which permit to consider the new product as innovation.

The research seeks to substantiate the need to adopt an innovative approach to domestic insurance business as an unalternative condition of its survival on the open global insurance market.

The research uses both general scientific method (theoretical modeling) and special methods (such as the descriptive phenomenological method, benchmarking, identification and formulation of the essential qualities or attributes, etc.) The author classifies insurance innovative products in business as follows: commercial (market); technical; financial; organizational and social.

The end-to-end life cycle of an innovative insurance product includes all stages of its development: initial stage, project stage and project completion stage). As insurance business is tightly connected to social and economic development of the state, the article reveals main reasons preventing to apply an innovative approach in the insurance sector. Innovation business would be key for Russia to overcome its current stagnation and crisis. The suggested recommendations towards the improvement of cooperation between policyholders and insurers at the innovation product launch step can be used by all interested parties. 

The paper considers the circumstances and conditions for establishing the Financial Stability Board (FSB) as the successor of the Financial Stability Forum, the basic principles, the scope of the Board’s activities, particularly aligned with global financial institutions, and the prospects for the subsequent institutionalization of the FSB in accordance with resolution of the Group of Twenty (G-20) at the St. Petersburg Summit in 2013. The areas of interaction between the FSB and the International Monetary Fund, the World Bank, the Bank for International Settlements and international standard-setting organizations in the field of finance are analyzed.. The content and outlines of the regulatory reform to be implemented by the FSB are highlighted. The Board’s institutionalization prospects, possible consequences of this process and emerging pending problems concerning development of international financial relations between different groups of countries.are discussed in general terms. An attempt is made to create an integrated picture of reforming the system of international financial relations management implemented within the framework of combating the financial and economic crisis, development of theoretical and applied problems in the regulation of international financial markets, harmonization of financial policies and coordination of national and supranational financial and economic institutions. 

The importance of developing and putting to practice the coordinated approaches to the monetary and financial policy in the framework of the Eurasian Economic Union is increasing along with the need to enhance the integration cooperation on the basis of the Customs Union (CU) and the Common Economic Space (CES) of Russia, Belarus and Kazakhstan. The relevance of the subject is determined by numerous debatable issues of the monetary integration theory; moreover, the coordination level and timing of the monetary policy, methods and directions of the common financial market formation are not yet defined.

Based on the synthesis and analysis of information obtained by the authors during their training in the Eurasian Economic Commission and from web resources, the article examines the institutional aspects of the monetary relations management in the Eurasian Economic Union and presents the authors’ assessment of factors that promote or hamper the monetary and financial integration in the region. It is shown that the insufficient level of trade and economic integration, poor coordination of monetary and fiscal policy at the continuing high volatility of national currencies in the Eurasian Economic Union hinders expansion of the scope and scale of using the Russian ruble and other national currencies in the mutual foreign trade settlements.

The analysis substantiates the need to boost the institutional consolidation of regional integration, eliminate the remaining administrative and other barriers in the way of the cross-border movement of production factors, ensure consistent implementation of the provisions of the Eurasian Economic Union Treaty aimed at harmonization of the monetary and fiscal policy. 

Fighting corruption is one of the most important tasks facing all countries. Currently the RF state institutes have made significant efforts to remedy the situation including passing several anti-corruption legislative acts. Some Russian companies must also comply with applicable foreign laws. Such as to anti-corruption legislation of the USA and the UK. If you compare the requirements of the Russian and international anti-corruption legislation, it appears that the Russian anti-corruption legislation is largely harmonized with relevant international law. Now the enforcement of existing legislation is the main challenge of Russian authorities and enterprises. The main actions are issued in the National Anticorruption Plan for 2014–2015. One of the actions of the National Plan is the assignment given to the business communities to monitor the implementation of anti-corruption compliance in companies. Quality monitoring requires criteria by which one can estimate the effectiveness of the anti-corruption activities in a company. Special attention requires the evaluation of anti-corruption compliance in small and medium-sized enterprises (SME). The basic principles, which must meet the criteria for the evaluation of anti-corruption compliance, are proposed in this article. Applying these principles (consistency, adaptability and reasonable sufficiency), we can reduce the number of anti-corruption measures down to 23 in 10 business processes. The principle of ease of running gives 8 criteria for 10 business processes for verification of anticorruption compliance programs at SME. 

The Russian Federation has a consistent policy to combat money laundering and corruption. The fight against these negative phenomena requires further improvement of the regulatory, supervisory and monitoring and law enforcement efforts as well as focused activities of the government bodies in the financial and economic sphere through the formulation and joint implementation of special measures in this area.

The article uses an integrated approach, system analysis, analysis of research results of a wide range of domestic and foreign works, synthesis of managerial decisions.

The paper outlines causes and conditions underlying money laundering and corruption and proposes targeted economic and financial measures to prevent and combat these phenomena. The author points out that specific management and organizational measures based on the proposed approach should be worked out and applied.