Economy Business Banks №9(35)




Inna N. Rykova

Doctor of Economics, Head of the Sectorial Economy Center, Financial Research Institute of the Ministry of Finance of the Russian Federation, Moscow.


Denis Y. Taburov

PHD (Engineering), Senior researcher of the Sectorial Economy Center, Financial Research Institute of the Ministry of Finance of the Russian Federation, Moscow.




Subject/Topic The development scenarios of the energy market throughout the world indicate a tremendous increase in the demand for energy resources. Energy market trends characterize the economic growth of countries depending on the regulation of energy consumption. The research topic is dedicated to identifying economic priorities for the development of the global electricity production market. The subject of the study is a monographic and system analysis of the processes of rational redistribution of renewable energy sources into a resource potential with a high competitive advantage.

Goals/Objectives The purpose of the study is the formation of economic trends in the development of global energy growth in the context of limited raw materials and increased requirements for the environmental safety of electricity production. The objectives of the study are: analysis and forecast of the total supply of primary energy per capita worldwide; calculation of the supply of primary energy by sources in the context of the global economy; identification of leading countries in terms of electricity consumption in the aspect under consideration of strategic planning of the global energy market for the period up to 2040.

Methodology The situational analysis of the energy system and the safety of the consumption of renewable energy sources in Russia and abroad was carried out using the following scientific research methods: comparison, observation, experiment, trend analysis. A logical analysis of cause-and-effect relationships revealed the growth in the supply of such a source of production resources of the world energy market as geothermal and solar energy.

Conclusion and Relevance As a result of the research, it can be concluded that the priorities for the development of the world electric energy production market are: simplification of procedures for investors to enter the industry, minimization of the shortage of financial resources of energy retail companies, the quality of logistics in the supply of energy resources, and optimization of financial management in the energy sector. Based on the decisions that take into account these priorities, it is possible to improve the compoition and structure of the energy potential of Russia and to monitor the global energy market in the future.

Keywords: electric power industry, world market, energy market, factors, priorities, energy security, electricity, energy systems, resources, potential, trends


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Alexander S. Rodionov

PhD in Technical Sciences, Professor,

Academician of the International Academy of Informatization, Professor of the Department of Risk Analysis and Economic Security, Director of Scientific and Information Consulting of safe life and work, Financial University under the Government of the Russian Federation Moscow. President of Graduate School MВА «IntegraL» (Corporate University).

Moscow. E-mail:

Lyudmila M. Kupriyanova

Candidate of economic sciences, Associate Professor, Associate Professor of the Department of Accounting, analysis and audit, Deputy Head of the Chair of Economics of intellectual property, Financial University under the Government of the Russian Federation

Moscow. E-mail:



Subject / Topic The study focuses on the concept of economic growth, presents a characteristic of the authors’ understanding of sustainable economic development. The authors analyze conditions and factors for achieving economic growth in accordance with its types, evaluate the role of the state in their creation.

Goals / Objectives To define the concept of economic growth and priority factors to ensure sustainable, systematic growth, the type of management system which is most favorable for its achievement.

Methodology In the work were used two methods of scientific knowledge: the method of collecting facts and the method of synthesis and analysis of information.

Conclusion and Relevance Free market economy is a prerequisite for achieving sustainable economic growth. The role of the state in this process is inalienable, since it is the state that allows the economy to develop without negative, mostly social consequences.

Keywords: economic growth, conditions of economic growth, factors of economic growth, free market economy, the role of the government in the economy


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Rodionov and Kupriyanova (2019) –  Rodionov A.S. Kupriyanova L.M. Risks of cognitive capital intellectualization: scenario planning [Riski intellektualizatsii kognitivnogo kapitala: stsenarnoye planirovaniye // Economy. Business. Banks [Ekonomika. Biznes. Banki]. 2019. No 7 (33). P. 19-37. [in Russian]

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Aleksey A. Kostin

PhD in economic science, Associate Professor of the Tax Policy and Customs Tariff Regulation Department of the Financial University under the Government of the Russian Federation, Russian Federation, Moscow.




Subject/Topic The subject of the study is public relations related to the activation of the process of stimulating industry development in Russia under the conditions of sanctions.

Goals/Objectives The aim of the study is a comprehensive analysis of the participation of industrial enterprises – authorized economic operators in Russia’s foreign trade under the conditions of sanctions, and the development of proposals for improving customs policy instruments regarding the further development of the institution of authorized economic operators.

Tasks The study of the situation in the Russian economy in the context of economic sanctions; determination of the development directions of the institute of authorized economic operators as one of the tools for customs stimulation of the improvement of foreign trade and customs operations.

Methodology The study was conducted on the basis of relevant data on functioning authorized economic operators and is based on the principles of systematic and integrated approach. As the methodological basis of the research were used: universal methods of knowledge; scientific methods, including systematic and logical method and also analysis, synthesis and analogy; methods such as the method of comparative law and formal legal method.

Conclusion and Relevance Increased economic interdependence of states, resulting from the expansion and constant redistribution of mutual flows of goods, the targeted cross-border movement of capital, the rapidly growing markets for services and technology, requires the provision of conditions for the formation of common rules and procedures for states participating in international trade. Under these conditions, the foreign trade of states is, first of all, the sphere of the national economy, in which each state needs to strengthen not only the regulatory and control impact, but also management functions. For Russia, which has been living in a certain economic isolation for the last five years, foreign trade is also an indicator of economic activity, reflecting the degree of stability of the national economy, the pace, nature and quality of economic development. The article deals with the problems of foreign trade activity of industrial enterprises-authorized economic operators and suggests the ways to solve them by improving the tools of customs policy.

Keywords: sanctions, import substitution, foreign trade, export, import, customs regulation, authorized economic operator.


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Olga S. Vinogradova

Master of Economics, Head teacher in sub department of Corporate management, Economic faculty of Lomonosov Moscow State University, Moscow, Russia. E-mail:

Maxim N. Kolin

Master of Economics, Lomonosov Moscow State University, Deputy CEO of LLC « Processing Technologies», Moscow, Russia. E-mail:



Subject/ Topic After the modern crises it became obvious that it is necessary to raise standards of financial risk-management for the Russian banking sector. The introduction of new standards positively influenced the financial stability of individual credit institutions in Russia, but in conditions of high volatility of financial market these measures are not enough. The process of digitalization and growing number of new banking operations emphasizes the relevance of improving risk-management regulatory procedures. This article explores the modern practice of risk-management in regional commercial banks in Russia, existing risk-management tools and techniques that were realized to improve the  quality of banking risk-management.

Goals/Objectives The purpose of this research is to identify areas for improving the methods of anti-crisis financial risk-management.

Methodology The methodological bases of this study is a systematic approach, within which were used causal, logical and functional research methods. The authors have applied the following research methods: analysis, comparison, synthase and interpolation.

Conclusions and Relevance In this study the authors have identifed the main problems of regional commercial banks which lead to the inability of a credit institutions to work efficiently. Therefore, for improving the anti-crisis financial risk regulation of commercial banks there may be used the following procedures: regular stress-testing, introduction of internal models for revealing the level of capital adequacy and reserves.

Keywords: financial risk-management, preventive anti-crisis measures, regional banks, anti-crisis risk-management, banking risk regulations.


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Lаrisа S. Аleksаndrovа

Candidate of economic Sciences, Associate Professor, Researcher of the Research center of monetary relations at the Financial University under the Government of the Russian Federation, Moscow, Russia

E-mаil: аls.007@yа

Olga V. Zakharova

Researcher of the Research center of monetary relations at the Financial University under the Government of the Russian Federation, Moscow, Russia  E-mail:



Subject/Topic The article is devoted to the analysis of theoretical bases of functioning of modern, in particular, exogenous and endogenous money.

Goals/Objectives The aim of the work is to study the history of the development of monetary theories and the possibility of their use to form a model of money supply regulation.

Methodology The work analyzes various forms and types of money, their features, monetary theories, methods of regulation of money supply, proposed by the founders of these theories. Special attention is paid to the analysis of endogeneity of money in the works of representatives of neoclassical and neo-Keynesian theories of money.

Results The stability and nature of movement of exogenous and endogenous money depend on the list of assets that act as collateral for their issue. Based on the analysis, the authors make an attempt to identify exogenous and endogenous money, formulate the advantages of various monetary theories in the field of regulation of money supply. 

Conclusions and Relevance As a result of the study of the problem under consideration, the authors clarify the definition, highlight the features of different types of money, methods to regulate the value of the money supply, determine further directions of research of modern money. There is a certain interdependence of the money supply, the volume of gross domestic product, the price level, the rate of circulation of the national currency, interest rates on the operations of the Central Bank and other instruments of monetary regulation. The role of exogenous money should be recognized in the regulation of monetary turnover.

Key words: exogenous money, endogenous money, theories of money, methods of monetary regulation.


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Irina A. Merkulina

Doctor of Economic Sciences, Professor, Deputy Dean of the Faculty of Logistics, Financial University under the Government of the Russian Federation, Moscow. E-mail:



Subject/Topic Marketing research is a mandatory element necessary for structuring PPP projects. The results of marketing research are necessary already at the stage of development of the project concept in relation to the infrastructure object proposed for implementation as a PPP project. This article discusses the main aspects of marketing research in public-private partnership projects for pre-school education institutions.

Goals/Objectives The necessity of application of marketing researches at implementation of projects of construction and operation of preschool educational organizations on the principles of public-private partnership is proved. Marketing research conducted for the implementation of public-private partnership projects is considered in the aspect of ensuring the competitiveness of a particular institution of preschool education. The concept of competitiveness of public-private partnership projects in the field of preschool education is clarified and the marketing specificity of the considered projects is revealed. SWOT-analysis and PEST-analysis of pre-school education institutions established on the principles of public-private partnership is carried out. The marketing factors of further development of preschool education institutions created using the mechanism of public-private partnership are defined.

Methodology Research of the regulatory framework necessary for the implementation of public-private partnership projects, research of marketing concepts, marketing analysis, system analysis.

Conclusions and Relevance The conclusion about the competitiveness of projects for the construction and operation of preschool educational institutions on the principles of public-private partnership is substantiated and the conditions for its achievement are defined. The algorithm of marketing research in public-private partnership projects for pre-school education institutions is formed. The principles of marketing promotion of the project among potential investors willing to participate in the project as a private partner are defined.

Keywords: marketing, research, institution, preschool education, public-private partnership, external environment, marketing specifics.


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David А. Gazarov

Graduate student of the Faculty of Economics, Department of Political Economy, Lomonosov Moscow State University




The article “Lease investment as a key driver for innovation development” investigates traditional approaches to guarantee contracts, identifying potential synergies and conditions of negative side effects – key drivers of investment quality.

High level of competitive struggle highlights the importance of this paper: economic agents are looking for innovative financial sources to achieve competitive advantage. As a result, this activity boosts effectiveness of current institutes and update economics at all. Current science investigations study different parts of economics without any data collaction and systematization.

The key findings indicate the importance of lease investment for economic system due to leasing multiple effects. Traditional investment sources have less positive effect because of low side effects and low quality of interaction between economic institutes. Besides, Russian Federation has a significant potential to improve investment portfolio for different segments of economy. The paper can be further developed in the case of separate economic practices to specific segments.

Keywords: lease, investment, innovation development, economic growth


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Tamara E. Dyachkova

3d year student of the Financial markets faculty, Financial University under the Government of the Russian Federation, Moscow. E-mail:

Darya A. Kosareva

3d year student of the Financial markets faculty, Financial University under the Government of the Russian Federation, Moscow.




Subject/Topic Problems of commercial banks in the Volga Federal district

Goals/Objectives To analyze the main financial indicators, the dynamics of assets and income, loan arrears of the commercial banks in the Volga Federal district and in the whole banking system. The economic conditions for the development of regional banks are considered. The effectiveness and importance of the regional banks, the ability to provide consumers with the competitive banking products and services are analysed.

Methodology Statistical and analytical methods are used according to the data of The Central Bank. Comparative analysis of the financial stability of banks in the whole banking sector and local banks is prioritized.

Conclusion and Relevance As a result of the study, the authors assess the effectiveness and stability of commercial banks in the Volga Federal district. The key features and trends in the banking system of the Volga Federal district are determined.

Keywords: commercial banks, regional banks, Volga Federal district, the index of lending, arrears, integral index of demand for Bank products


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