Economy Business Banks №9(35)

CОNTЕNT

 

ECONOMY

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.

E-mail: rycova@yandex.ru

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.

E-mail: taburov@narod.ru

FACTORS DETERMINING PRIORITIES OF DEVELOPMENT OF THE WORLD ELECTRICITY PRODUCTION MARKET

Abstract

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

Reference:

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Zolotova, Dvorkin (2017) – Zolotova I.U., Dvorkin V.V. Short term price forecasting in the Russian electric power wholesale market based on neural network [Kratkosrochnoe prognazirovanie cen na rossiyskom optovom rynke elektroenergii na osnove neironnyh setey], Studies on Russian Economic Development № 6 [Problemy prognozirovaniya # 6] 2017. p. 47-57 [in Russian]

Kozuhovsky, Nikolaev (2016) – Kozuhovsky I.S., Nikolaev V.G. World project of global energy interconnection and long-term development prospects of world and domestic energy [Mirovoy proyect globalnogo enrgeticheskogo ob’edineniya i perspectivy dolgosrochnogo razvitiya mirovoy i otechestvennoy energetiki], Collected book, Renewable energy XXI century: energy and economical efficiency [Sbornik Vozobnavlyaemaya energetika XXI vek: Energeticheskaya i ekonomicheskaya effektivnost’], 2016 eds. D.O. Dunikov, O.S. Pepel’ 2016 p. 55-60 [in Russian]

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Miheev (2018) – Miheev P.U. Energy and sustainable development [Energiya i ustojchivoe razvitie], Energy. Economy. Technics. Ecology [Energiya Ekonomika. Tekhnika. Ekologiya], 2018. # 5. p. 14

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Voskresenskii N.M., Okunev B.N., Gordeeva L.G. A Thermodynamic Analysis of a New Cycle for Adsorption Heat Pump “Heat from Cold”: Effect of the Working Pair on Cycle Efficiency // Thermal Engineering, vol. 65 – 2018. , p. 524-530

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9

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).

https://orcid.org/0000-0002-5109-6810

Moscow. E-mail: rod-ionov@bk.ru

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

https://orcid.org/0000-0002-9453-6425

Moscow. E-mail: kuprianovalm@yandex.ru

FREE MARKET ECONOMY AS A KEY FACTOR FOR SUSTAINABLE ECONOMIC GROWTH

Abstract

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

References:

Rodionov (2019) – Rodionov A.S. Investments in safe life & activities: preservation, level, lifestyle, quality. [Rodionov A.S. Investitsii v bezopasnuyu zhiznedeyatel’nost’: sokhraneniye, uroven’, uklad, kachestvo.] // Economy. Business. Banks [Ekonomika. Biznes. Banki]. 2019. No 3 (29). P. 54- 66. [in Russian]

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]

Moiseev (1996) – Moiseev NN Agony of Russia: does it have a future? An attempt at the systematic analysis of the problem of choice [Popytka sistemnogo analiza problemy vybora] Gas. “Green World”. Special issue No. 12, 1996, pp. 6–15. [in Russian]

Friedman (2006) – Friedman M. Capitalism and freedom [Kapitalizm i svoboda] /tr. from English M.: New Publishing House, 2006. – 240 p. (Library of the Liberal Mission Foundation) [in Russian]

Glazyev (2010) – Glazyev S.Y. The Strategy for the Advanced Development of Russia in the Global Crisis [Strategiya operezhayushchego razvitiya Rossii v usloviyakh global’nogo krizisa] / S.Y. Glazyev. – M .: Economics, 2010 .– 255 p. [in Russian]

Keynes (1963) – Keynes J. M. Economic Possibilities for our Grandchildren (1930). Scanned from John Maynard Keynes, Essays in Persuasion, New York: W.W.Norton & Co., 1963, pp. 358-373 [in Russian]

Maksimtseva (2011) – Fundamentals of a knowledge-based economy (Knowledge-Creativity-Innovation) [Osnovy naukoyemkoy ekonomiki (Znaniya-Kreativnost’-Innovatsii)]. Textbook / Under. Ed. Doctor of Economics, prof. I.A. Maksimtseva. – Ed. 2nd, rev. and add. – M.: Publishing House “Creative Economy”, 2011. – 456 p. [in Russian]

Naumov (1998) – Naumov A. In the first circle [V kruge pervom] J. Expert No. 35, 1.09.1998, p.20-22 [in Russian]

Bezdenezhnykh and Rodionov (2017) – Bezdenezhnykh V.M, Rodionov A.S. Proactive risk-based approach in the scenario planning of activities of economic entities [Proaktivnyy risk-oriyentirovannyy podkhod v stsenarnom planirovanii deyatel’nosti khozyaystvuyushchikh sub”yektov] // Economy. Taxes. Law. [Ekonomika. Nalogi. Pravo.]. 2017. V. 10, No. 6. P. 76-83 [in Russian]

Zoubets and Novikov (2018) – Zoubets A.N., Novikov. Theoretical and methodological approaches to the study of the “cost” of living in Russia [Teoretiko-metodologicheskiye podkhody k issledovaniyu «stoimosti» zhizni v Rossii] // Economy. Business. Banks [Ekonomika. Biznes. Banki]. 2018. No 6 (27). P. 87-102. [in Russian]

Greenfield (2018) – Greenfield, A. Radical technologies: a device for everyday life [Radikal’nyye tekhnologii: ustroystvo povsednevnoy zhizni] / Adam Greenfield; translation from English – M .: Publishing house “Delo” RANE&GA [Izdatel’skiy dom «Delo» RANKhiGS], 2018. 424 p. [in Russian].

Efremov (1998) – Efremov V.S. Business strategy. Concepts and methods of planning [Strategiya biznesa. Kontseptsii i metody planirovaniya] / study guide. – M .: Publishing house “Finpress” [Izd-vo “Finpress”]. 1998. 192 p. [in Russian]

Rodionov (2011) – Rodionov A.S. Multifactor pulse-energy approach as the development of the creative heritage of M.V. Lomonosov [Mnogofaktornyy impul’sno-energeticheskiy podkhod kak razvitiye tvorcheskogo naslediya M.V. Lomonosova]. Compilation M.V. Lomonosov about the traditions of social and humanitarian knowledge of Russia. M .: University book [Universitetskaya kniga], 2011. 437 p. P. 412-426 [in Russian]

Solou (2002) – Solou P. M. The Theory of Growth [Panorama ekonomicheskoy mysli kontsa XX stoletiya] // Panorama of Economic Thought at the End of the 20th Century / Ed. D. Greenaway T.1 – St. Petersburg: School of Economics, 2002 481-482 pp. [in Russian]

Ford (2014) – G. Ford. My life, my achievements [Moya zhizn’, moi dostizheniya]. Potpourri, 2014. [in Russian]

Easterly (2006) – W. Easterly, In Search of Growth [V poiskakh rosta]. tr. from English – M .: Institute for Integrated Strategic Studies, 2006.

Smith (1937) – Adam Smith An Inquiry into the Nature and Causes of The Wealth of Nations. Random House, Inc, 1937.

McMillan (2014) – McMillan, Jonathan. The End of Banking. Money, Credit and the Digital Revolution [Konets bankovskogo dela. Den’gi i kredit v epokhu tsifrovoy revolyutsii] / Jonathan McMillan; translation from English – M.: Publishing House AST, 2014. – 256 p.c [in Russian]

Schumpeter (2007) – Schumpeter, J. Theory of economic development. Capitalism, socialism and democracy [Shumpeter Y. Teoriya ekonomicheskogo razvitiya. Kapitalizm, sotsializm i demokratiya / predisl. V.S. Avtonomova. M., 2007. 864 s.] / foreword V.S. Avtonomova. M., 2007.864 p. [in Russian]

Lindgren and Bandhold (2009) – Mats Lindgren, Hans Bandhold. Scenario planning: the relationship between the future and strategy. [Stsenarnoye planirovaniye: svyaz’ mezhdu budushchim i strategiyey] – M.: CJSC Olimp-Business, 2009. – 256 p.

Toffler (2002) – Toffler E. Shock of the Future [Shok budushchego] translation from English / E. Toffler. – M .: AST Publishing House LLC, 2002. –  557 p. –  (Philosophy). [in Russian]

Frankl  (1990) – Frankl V. Man in search of meaning: Collеction [Chelovek v poiskakh smysla: Sbornik] / Transl. from English and German. D.A. Leontiev, M.P. Daddy, E.V. Eidman. – M .: Progress, 1990 . – 368 p. [in Russian]

Srnichek (2019) – Srnichek, N. Capitalism of platforms [Kapitalizm platform] / trans. from English and scientific. ed. M. Dobryakova; “Higher School of Economics”. – M.: Publishing. House of the Higher School of Economics, 2019 – 128 p. – (Economic theory) [in Russian]

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29
ECONOMICS AND MANAGEMENT

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.

E-mail: aakostin@fa.ru

CUSTOMS STIMULATION INSTRUMENTS FOR ACTIVITIES OF INDUSTRIAL ENTERPRISES-AEO

Abstract

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.

References:

Dyumulen I.I. (2011) International trade. Tariff and non-tariff regulation: Textbook / II. Dumoulin. – 3rd ed. – M.: VAVT, 2011. – 518 p.

Krugman P. (1994) Peddling Prosperity. – New York: Norton, 1994. – p. 287.

Dresner D. (2018) Useless sanctions invalidate the necessary sanctions … // International processes. – 2018. – T. 16. – No. 2 (53). – P. 175-185.

Mankiw N.G. (2011) Principles of Economics. – South-Western, Cengage Learning, 2011. – 856 p.

McConnell, Campbell R. Economics: principles, problems, and policies / Campbell R. McConnell, Stanley L. Brue. – 17th ed. – McGraw-Hill, 2008.-876 p.

Moskalenko O.A., Glekova V.V. Foreign trade of the region under economic sanctions // Bulletin of the Eurasian Science. – 2018. – No. 6. – P. 29.

Vardanyan V.S. (2019) The effect of international economic sanctions on the economic indicators of the federal districts of the Russian Federation // Financial Economics. – 2019. – No. 2. – p. 566-570.

  1. Rukinov M.V. (2019) Economic sanctions and their impact on economic security // Scientific notes of the International Banking Institute. – 2019. – No. 1 (27). – p. 121-131.

Simachev Y., Kuzyk M., Zudin N. (2016) Import dependence and import substitution in the Russian manufacturing industry: a business view // Foresight. – 2016. – T. 10. – No. 4. – p. 25-45.

Raizberg B.A., Lozovsky L.S., Starodubtseva E.B. (2011) Modern economic dictionary. – 6th ed., Revised. and add. – M.: INFRA-M, 2011.

Plotnikov V.A. (2011) Industrial development and technological safety as factors in the formation of an innovative economy // Bulletin of the Southwestern State University. Series: Economics. Sociology. Management. – 2011. – No. 2. – p. 17-24.

Bakaeva O.Y., Pokachalova E.V. (2018) Monitoring and audit as a tool to achieve a balance of private and public interests in tax and customs relations // Perm University Herald. Jurisprudence. – 2018. – No. 4. – p. 616-643.

Badmaev D.B. (2018) Demand by authorized economic operators for special simplifications and prospects for their development // Scientific almanac. – 2018. – No. 12-1 (50). – p. 20-22.

45
FINANCIAL RISK MANAGEMENT

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: o.s.gluhova@mail.ru

Maxim N. Kolin

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

FINANCIAL RISK-MANAGEMENT IN REGIONAL BANKS

Abstract

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.

References:

Aleshina et al. (2017) – Aleshina A.V., Bulgakov A.L., «Systemic risk and the financial crisis: what lessons can be learned from past financial crises» [«Sistemnyiy risk i finansovyiy krizis: kakie uroki mozhno izvlech iz proshlyih finansovyih krizisov»] // Economics and Management: Problems, Solutions [Ekonomika i upravlenie: problemyi, resheniya]. – 2017. – Tom 3, # 4. – p. 62-73.

Andryushin (2012) – Andryushin S., Kuznetsova V., Instruments of macroprudential policy of central banks [«Instrumentyi makroprudentsialnoy politiki tsentralnyih bankov»] // Economic issues [Voprosyi ekonomiki]. – 2012. – # 8. – p. 32–47.

Danilova (2017) – E.O. Danilova, N.B. Elizarova, Macroprudential policy: theoretical aspects and practical experience of the Bank of Russia [Makroprudentsialnaya politika: teoreticheskie aspektyi i prakticheskiy opyit Banka Rossii] // Money and credit [Dengi i kredit]. – 2017. – # 6. – p. 5–17;

Dubinin et al. (2016) – Dubinin S.K., Doroshenko M.E., Pahalov A.M., «Review of the results of the I International Conference «Financial Regulation in the EAEU: Problems and Prospects»» [«Obzor itogov I Mezhdunarodnoy konferentsii «Finansovoe regulirovanie na prostranstve EAES: problemyi i perspektivyi»»] // Moscow University Herald. Series 6: Economics [Vestnik Moskovskogo universiteta. Seriya 6: Ekonomika]. – # 6, 2016. – p. 133-141

Moiseev (2011) – Moiseev S.R., Macroprudential policy: goals, instruments and application in Russia [Makroprudentsialnaya politika: tseli, instrumentyi i primenenie v Rossii] // Banking [Bankovskoe delo]. – 2011. – # 3. – p. 28–34.

Pozdyishev (2015) – Pozdyishev V.A., The development of banking regulation in Russia in 2015 [Razvitie bankovskogo regulirovaniya v Rossii v 2015 godu] // Money and credit [Dengi i kredit]. — 2015.— N1 .—p. 5-8.

Cherkasova (2018) – Cherkasova T.N. «The Banking System of Russia: Current Status and Development Prospects» [«Bankovskaya sistema Rossii: sovremennoe sostoyanie i perspektivyi razvitiya»] // Russian Socio-Economic System: Realities and Development Vectors: Monography [Rossiyskaya sotsialno-ekonomicheskaya Sistema: realii i vektoryi razvitiya: Monografiya] / INFRA-M – 2018.

Hopkins (2017) – Jamie Hopkins, «New Fiduciary Rule for Financial Advisors Moves the Needle, But in Which Direction» // Forbes. – June 14. – 2017.

Thorsten et al. (2019) – Thorsten B., Jones E., Knaack P. Basel III in developing countries—a difficult relationship // International banker. – January 28. – 2019.

63
FINANCE AND CREDIT

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@yаndex.ru

https://orcid.org/0000-0003-4379-5141

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: olvzakharova@mail.ru

https://orcid.org/0000-0002-6377-3006

EXOGENOUS MONEY: NOTIONS OF THE FOLLOWERS OF CLASSICAL AND KEYNESIAN THEORIES OF MONEY

Abstract

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.

References:

Aleksandrova (2014) – Aleksandrova L.S.  Circulation of money: Russia and international experience  [Obrashchenie nalichnyh deneg: Rossiya i mezhdunarodnyj opyt], Banking services [Bankovskie uslugi], 2014# 7. Pp. 31-38. [in Russian]

Abramova (2014) –  Abramova M.A. Improvement of legal and economic basis of money. Monograph. [Sovershenstvovanie pravovyh i ehkonomicheskih osnov deneg. Monografiya].- , M .: Rim University, 2014. [in Russian]

Abramova (2015) –  Abramova M.A. Situation, Trends and Prospects of Development of money circulation in Russia. Monograph. [Sostoyanie, tendencii i perspektivy razvitiya nalichnogo denezhnogo obrashcheniya v Rossii. Monografiya] – M .: RUSNAYS 2015. [in Russian]

Aleksandrova, Zakharova  (2019) – Aleksandrova L.,  Zakharova O. External and internal factors of money supply formation: some questions of the theory. [Vneshnie i vnutrennie faktory formirovaniya denezhnoj massy: nekotorye voprosy teorii.],  Economy. Business. Banks. [Ekonomika. Biznes. Banki], 2019 #7. Pp 66-75. [in Russian]

Fisher 92012) –  Fisher E. Selected works. [Izbrannye trudy] – M., 2012.

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80
YOUNG SCIENTIST TRIBUNE

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: iamerkulina@fa.ru

MARKETING RESEARCH IN PUBLIC-PRIVATE PARTNERSHIP PROJECTS FOR PRE-SCHOOL EDUCATION INSTITUTIONS

Abstract

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.

References:

Maksimov (2008) – Maksimov V.V. Analysis of the state support of public-private partnership projects in road construction [Analiz ob#ema gospodderzhki proektov gosudarstvenno-chastnogo partnerstva v dorozhnom stroitel’stve] // Economic analysis: theory and practice [Ekonomicheskiy analiz: teoriya i praktika.]. 2008. – # 18. – p. 60-64 [in Russian]

Maksimov V.V. (2008) – Maksimov V.V. Indicator of budgetary efficiency of investment projects in the road sector [Pokazatel’ bjudzhetnoj jeffektivnosti investicionnyh proektov v avtodorozhnoj otrasli] // Financial analytics: problems and solutions [Finansovaja analitika: problemy i reshenija]. 2008.  # 8. p. 77-83. [in Russian]

Karpova, Stitsuk, Titova (2015) – Karpova S.V., Stitsuk R.Y., Titova L.G. Behavioural change is a prerequisite for sustainable development [Povedencheskiye izmeneniya yavlyayutsya predposylkoy ustoychivogo razvitiya] // Sustainable development management [Upravleniye ustoychivym razvitiyem]. 2015. p. 320-341. [in Russian]

Merkulina (2018) – Merkulina I.A. Evaluation of the competitiveness of universities in the digital economy [Otsenka konkurentosposobnosti vuzov v usloviyakh tsifrovoy ekonomiki] // Theory and practice of entrepreneurship development: modern concepts, digital technologies and an effective system. Materials of the VI International Scientific Congress [Teoriya i praktika razvitiya predprinimatel’stva: sovremennyye kontseptsii, tsifrovyye tekhnologii i effektivnaya sistema. Materialy VI Mezhdunarodnogo nauchnogo kongressa]. 2018. p. 341-344. [in Russian]

Rebrikova, Shalnova (2017) – Rebrikova N.V., Shalnova O.A. Preschool education services market: analysis of the marketing environment [Rynok uslug doshkol’nogo obrazovaniya: analiz marketingovoy sredy] // Young scientist [Molodoy uchenyy]. 2017. # 9. p. 440-445. [in Russian]

Ivanov (2007) – Ivanov I.N. The main directions of restructuring of the organizational structure of enterprise on the marketing concept of management [Osnovnyye napravleniya perestroyki organizatsionnoy struktury predpriyatiya na marketingovuyu kontseptsiyu upravleniya] // Successes in modern science [Uspekhi sovremennogo yestestvoznaniya]. 2007.  # 11. p. 73-75. [in Russian]

Kalinin (2014) – Utilization of industrial waste as a marketing component of the enterprise [Utilizatsiya otkhodov proizvodstva kak marketingovyy komponent deyatel’nosti predpriyatiya] // Bulletin of the Siberian Institute of Business and Information Technology [Vestnik Sibirskogo instituta biznesa i informatsionnykh tekhnologiy]. 2014.  # 3 (11). p. 2-6. [in Russian]

Rozanova, Stytsyuk, Artemyeva (2016) – Rozanova TP, Stytsyuk R.Y., Artemyeva O.A. The role and effectiveness of marketing management at different levels of marketing strategy [Rol’ i effektivnost’ marketingovogo upravleniya na raznykh urovnyakh marketingovoy strategii] // Economics and management in mechanical engineering [Ekonomika i upravleniye v mashinostroyenii]. 2016.  # 4. p. 47-50. [in Russian]

Merkulina I.A., Safronova A.A. (2014) – Merkulina I.A., Safronova A.A. Features of application of information technologies in the marketing activity of enterprise [Osobennosti primeneniya informatsionnykh tekhnologiy v marketingovoy deyatel’nosti predpriyatiya] // Transport business in Russia [Transportnoye delo Rossii.]. 2014.  # 1. p. 30. [in Russian]

Izmestiev, Sysolyatin (2017) – Izmestiev VS, Sysolyatin AV. Socio-economic essence of marketing positioning [Sotsial’no-ekonomicheskaya sushchnost’ marketingovogo pozitsionirovaniya] // In the collection: Society. Science. Innovations (NPK-2017) collection of articles. All-Russian annual scientific and practical conference. Vyatka State University [V sbornike: Obshchestvo. Nauka. Innovatsii (NPK-2017) sbornik statey. Vserossiyskaya yezhegodnaya nauchno-prakticheskaya konferentsiya. Vyatskiy gosudarstvennyy universitet]. 2017. p. 5328-5333. [in Russian]

Merkulina (2018) – Merkulina I.A. Features of economic feasibility study of investments in infrastructure facilities of the fuel and energy complex [Osobennosti ekonomicheskogo obosnovaniya investitsiy v ob”yekty infrastruktury toplivno-energeticheskogo kompleksa] // Economics and Management in Mechanical Engineering [Ekonomika i upravleniye v mashinostroyenii]. 2018. № 4. p. 27-29. [in Russian]

Karpova, Kasayev, Klimov (2014) – Karpova S.V., Kasayev B.S., Klimov D.V. Modern marketing tools for determining the effectiveness of spatial transformations [Sovremennyye marketingovyye instrumenty opredeleniya effektivnosti prostranstvennykh preobrazovaniy] // Russian Entrepreneurship [Rossiyskoye predprinimatel’stvo]. 2014. # 22 (268). p. 16-27. [in Russian]

Karpova, Kasayev, Zakharov (2014) – Karpova S.V., Kasayev B.S., Zakharov I.S. Analysis of marketing tools for spatial planning [Analiz marketingovykh instrumentov territorial’nogo planirovaniya] // Management Sciences [Upravlencheskiye nauki]. 2014.  # 3. p. 43-47. [in Russian]

Merkulina (2019) – Merkulina I.A. Marketing aspects in the logistics management system of enterprises of the fuel and energy complex [Marketingovyye aspekty v sisteme upravleniya logistikoy predpriyatiy toplivno-energeticheskogo kompleksa] // Economy. Business. Banks.  [Ekonomika. Biznes. Banki] 2019. Т. 9. – p. 53-66. [in Russian]

Merkulina (2018) – Merkulina I.A. Management of marketing activities in the system of production and consumption waste management [Upravleniye marketingovoy deyatel’nost’yu v sisteme obrashcheniya s otkhodami proizvodstva i potrebleniya] // MONITORING. Science and technology [MONITORING. Nauka i tekhnologii]. 2018.  # 5 (38). p. 62-66. [in Russian]

Merkulina I.A. (2015) – Merkulina I.A. Specificity of marketing activity of enterprises in the Internet environment [Spetsifika marketingovoy deyatel’nosti predpriyatiy v srede Internet] // Innovative economics and modern management [Innovatsionnaya ekonomika i sovremennyy menedzhment]. 2015.  # 5 (6). p. 17-27. [in Russian]

Kaptyukhin, Mkhitaryan, Tultayev (2014) – Kaptyukhin R.V., Mkhitaryan S.V., Tultayev T.A. Transformation of the classification model of marketing communications in the Internet space [Transformatsiya klassifikatsionnoy modeli marketingovykh kommunikatsiy v internet-prostranstve] // Business. Education. Law [Biznes. Obrazovaniye. Pravo]. 2014. # 2 (27). p. 120-124. [in Russian]

Kaptyukhin, Mkhitaryan, Tultayev T.A. (2014) – Kaptyukhin R.V., Mkhitaryan S.V., Tultayev T.A. Features of sales promotion in the Internet [Osobennosti stimulirovaniya sbyta v seti internet] // Business. Education. Law [Biznes. Obrazovaniye. Pravo]. 2014.  # 3 (28). p. 144-149. [in Russian]

90

David А. Gazarov

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

https://orcid.org/0000-0003-3327-2128

Email: David.Gazarofff@gmail.com

LEASE INVESTMENT AS A KEY DRIVER FOR INNOVATION DEVELOPMENT

Abstract

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

References:

Agrawal V, Ferguson M, Souza G. Trade-in rebates for price discrimination and product recovery. Working paper, 2014

Agrawal V, Ferguson M, Toktay LB, Thomas V. Is leasing greener than selling? Management Science 2012;58(3):523–33.

Huang X, Gu J, Ching W, Siu T. Impact of secondary market on consumer return policies and supply chain coordination. Omega 2014;45:57–70.

Francas, Minner DS. Manufacturing network configuration in supply chains with product recovery. Omega 2009;37(4):757–69.

Johnson J, Schneider HS, Waldman M. The role and growth of new-car leasing: theory and evidence. Journal of Law and Economics 2014;57(3):140–54

Longinidis P, Georgiadis MC. Integration of sale and leaseback in the optimal design of supply chain networks. Omega 2014;47:73–89.

Pierce L. Organizational structure and the limits of knowledge sharing: incentive conflict and agency in car leasing. Management Science 2012;58 (6):1106–21.

Wu C. OEM product design in a price competition with remanufactured products. Omega 2013;41:287–98.

Civil code of the Russian Federation. Part two, Chapter 34 “Lease”, paragraph 6 ” Financial lease (leasing)”.

Federal law No. 16-FZ of 8 February 1998 On the accession of the Russian Federation to the UNIDROIT Convention On international financial leasing.

Federal law No. 164-FZ of 29.10.98 ” On financial lease (leasing)”(as amended on 3 July 2016)”.

Alexandrova O. B. The mechanism of organization and functioning of the industry leasing market // Fundamental and applied research in the modern world: proceedings of the IV international scientific-practical conference. – St. Petersburg: publishing house Strategy of the future, 2013. – Vol. 2. – p. 85-88.

Bagdasarjanz N. G., Bezrukova V. I., Bessonov V. A., Vlasenko N. A. Kirichenko I. A., and other Investments in Russia. 2015: Stat. sat. / Rosstat. – M.: I58 2015. – 190 p., – p. 69

Batalov N. A. Research of economic relations in the sphere of financial leasing in the conditions of economic uncertainty / / Naukovedenie. – Yaroslavl: HUPIT, 2014.  Vol.2. (March-April.) – p. 1-14.

Boldyrev V. N., Shatalov M. A. Leasing as a form of investment in the conditions of anti-crisis management of enterprise. Territory of science. – Voronezh: VEPI, 2014. – No. 4. – p. 28-32.

Vakhitov D. R., Shabanova A. B. Analysis of the current state of leasing market in Russia: problems, growth indicators, development prospects, advantages and disadvantages // Actual problems of Economics and law. – 2012. – No. 3 (23). – p. 54-62.

Vakhitov D. R., Stepanov V. I. Formation and development of the domestic market of leasing services as a form of investment activity. – Kazan: Brig, 2010. -323 p.

Vladimirova A.V., Losevskaya S. A. Development of leasing of domestic equipment in Russia under sanctions / / Bulletin of the Don state agrarian University. – Rostov n\D:  “Don state agrarian University”, 2015. – №1-2. – p. 65-70.

Gaps GN Leasing. Tasks and solutions. – Moscow: Alfa-Press, 2010. – 160 p.

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Romanova O. Leasing at risk / / Expert [Electronic resource]. – URL: http:// expert. EN/ northwest/2015/07/ lizing – v – zone – riska/

Smaragdov I. A., Sidoreyko V. N. Russian leasing market: decrease of competition / / Scientific and methodical electronic journal “Concept”. – 2016. – No. 1 (January). – p. 26-30. – URL: http://e-koncept.ru/.htm

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RosBusinessCons [Electronic resource].  – URL: http:// www.rbc.ru /economics/

103

Tamara E. Dyachkova

3d year student of the Financial markets faculty, Financial University under the Government of the Russian Federation, Moscow. E-mail: Teta1799@mail.ru

Darya A. Kosareva

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

E-mail: kosareva.d@gmail.com

ANALYSIS OF THE SIGNIFICANCE OF REGIONAL BANKS ON THE EXAMPLE OF BANKS IN THE VOLGA FEDERAL DISTRICT

Abstract

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

References:

Glezman, Zeke (2013) Glezman L. V., Zeke R. V. Increase of the role of regional banks in the development of the Russian economy. [Povyshenie roli regionalnykh bankov v razvitii ekonomiki Rossii] Russian business. 2013. No 16. URL: https://cyberleninka.ru/article/v/povyshenie-roli-regionalnyh-bankov-v-razvitii-ekonomiki-rossii Date of access: 14.04.2019 [in Russian]

Krivosheev  (2015) Krivosheev D. V. Trends in the development of the banking system of the Volga Federal district. [Tendencii v razvitii bankovskoi sistemy Privolzhskogo Federalnogo okruga] Finance and credit. 2015. No 15 (639). URL: https://cyberleninka.ru/article/n/tendentsii-v-razvitii-bankovskoy-sistemy-privolzhskogo-federalnogo-okruga Date of access: 18.04.2019 [in Russian]

Nikitina, Zhukovskaya (2017) Nikitina E. B., Zhukovskaya S. L. Analysis of regional banks on the example of the Volga Federal district [Analiz deyatelnosti regonalnykh bankov na primere Privolzhskogo Federalnogo okruga] Economics and entrepreneurship. 2017. No 1 (78). p. 208-211 [in Russian]

Lebedinskaya, Timofeev (2018) Lebedinskaya O.G., Timofeev A.G. and Kurnikova M.V. Regional Coverage with Banking Services and Regional Economic Health // SHS Web Conf. Problems of Enterprise Development: Theory and Practice. 2018

Voronova, Miroshnichenko (2017) Voronova N. S., Miroshnichenko O. S. Regional banks of Russia: problems of growth and development prospects. [Regionalnye banki Rossii: problemy rosta I perspektivy razvitiya] Finance: Theory and Practice. 2017. No. 4. [in Russian]

Aleksandrova (2015) – Aleksandrova L.S. Lending for people as the direction of development of banking sphere [Kreditovanie naseleniya kak napravlenie realizatsii potentsiala bankovskoy sferyi], Banking services [Bankovskie uslugi] #4, 2015 p.29 [in Russian]

Aleksandrova 2018 – Aleksandrova L. Issues of bank lending to individuals. [Voprosy bankovskogo kreditovaniya fizicheskih lic] – //Economy. Business. Banks. [Ekonomika. Biznes. Banki] 2018. #2, p.33-45. [in Russian]

Ponomarenko, Sinyakov (2018). Ponomarenko, A., Sinyakov, A. Impact of Banking Supervision on Banking System Structure: Conclusion from Agent-Based Modelling [Vliyanie usileniya bankovskogo nadzora na structuru bankovskoi sistemy: Vyvody na osnove agentoorientirovannogo modelirovaniya] Russian Journal of Money and Finance. 2018. 77(1), p. 26-50. [in Russian]

Zakharova (2015). Zakharova O.V. The System of Refinancing of Russian Banks Aims to Ensure the Liquidity of the Banking Sector [Razvitie sistemy refinansirovaniya rossijskih bankov kak faktor obespecheniya likvidnosti bankovskogo sektora] Economy. Taxes. Law. [EHkonomika. Nalogi. Pravo], 2015. #1. p. 43 ̶ 52 [in Russian]

Fratzscherabc, Königa, Lambertad  (2016) Fratzscherabc M., Königa P. J., Lambertad C. Credit provision and banking stability after the Great Financial Crisis: The role of bank regulation and the quality of governance // Journal of International Money and Finance. 2016. Pages 113-135

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