Abstract

Subject/Topic The article actualizes the idea of finding a path for the development of the digital economy against the background of the manifestation of sustainable global drivers, taking into account the protection of national priorities; attention is drawn to the importance of maintaining the proactivity of decisions in real time for the timely neutralization of the negative, humanitarian consequences of the technocratic “digitalization” of society.

Goals / Objectives To substantiate the reference points of the society’s phase transition from the comfortable Plug and Play gaming zone to the uncomfortable state of the mass introduction of NBICS technologies of Industry 4.0, accompanied by the release of workers in the production of goods and services through the introduction of Big Date digital platforms based on the algorithm software artificial intelligence.

Methodology Phenomenological analysis, synergetics of natural sciences at the junction with the humanities, methods of similarity, divergent and convergent thinking, analysis and synthesis, induction and deduction.

Conclusions and Relevance In the framework of the author’s paradigm, foreign theories of the digital future have been studied and generalized; it is shown that in the conditions of a narrow focus of the info-technocratic revolution, the sociocultural component disappears as a hindrance to profit maximization in the harsh conditions of social Darwinism.

Keywords: digital economy, social Darwinism, NBICS technologies

References:

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Abstract

Subject / Topic The scientific and technical development of the Russian economy is an extremely important issue of the past decade, when it received increased attention from the authorities, researchers and participants of the ongoing processes. In a capitalist economy, the situation with the patenting of scientific and technical solutions can be considered as an effective indicator of the level and pace of the development of science and technology. Based on the analysis of statistical data, the authors identify existing problems in the field of legal protection of intellectual property and ways to solve them.

Goals/Objectives The solution of the tasks set at the highest level of import substitution of high-tech products and diversification of the production of the military-industrial complex requires, among other things, the activation of Russian companies in the field of research and development. Determination of the state and trends of scientific and technological development in Russia allows to outline promising ways for the real development of science and technology.

Methodology A universal, though somewhat inaccurate, indicator of the level of science and technology is considered to be the dynamics of patenting and registration of other intellectual property. Based on the analysis of open data from FIIP and Rosstat, the authors identify characteristic trends and outline ways to overcome existing obstacles to achieve a “technological breakthrough”.

Results: Based on the analysis, current trends in the legal protection of intellectual property and the processes underlying them in the practice of R&D of the Russian companies are identified. This analysis allows to identify promising areas for the improvement of regulation in the field of R&D and possible directions for subsequent research.

Conclusions and Relevance Despite the intensive development of the practice of protection of the means of individualization of goods and its positive impact on the entire sphere of intellectual property, the conclusion about the stagnation of patenting in the Russian Federation is obvious. The reasons for the disappointing dynamics lie, on the one hand, in the field of imperfection of legal regulation and enforcement, and on the other, in the low efficiency of the work of Russian companies in the field of intellectual property. A number of measures may allow to overcome the existing restrictions and achieve positive dynamics in the field of patenting, which, in turn, will have a real impact on the scientific and technological development of the Russian economy.

Keywords: patenting, research, innovative development, legal regulation

References:

Kiselev, Nikolayenko (2018) – Kiselev M.N., Nikolayenko N.S. Analysis of the practice of legal protection of the results of intellectual activity created in the framework of R&D in the field of microelectronics [Analiz praktiki pravovoj ohrany rezul’tatov intellektual’noj deyatel’nosti, sozdavaemyh v ramkah NIKOR v oblasti mikroelektroniki] // Electronic equipment. Series 2. Semiconductor devices. Issue 2 (249) [Nauchnyj zhurnal: Elektronnaya tekhnika. Seriya 2. Poluprovodnikovye pribory. Vypusk 2 (249)]. 2018, p. 53-59.

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Internal R&D costs // Official site: Federal State Statistics Service [Electronic resource] Access mode: URL: https://www.gks.ru/storage/mediabank/t_5.xlsx (accessed: 02.03.2020)

Price Index for Non-Food Products // Official site: Federal State Statistics Service [Electronic resource] Access mode: URL: https://fedstat.ru/indicator/31074 (accessed: 02.03.2020)

Monitoring of qualitative and quantitative FIIP indicators for 2019 // Official site: Federal Institute of Industrial Property [Electronic resource] URL: https://www1.fips.ru/about/deyatelnost/mon-fips -2019.xls (accessed: 02.03.2020)

Monitoring of qualitative and quantitative indicators of FIIP for 2018 // Official site: Federal Institute of Industrial Property [Electronic resource] Access mode: URL: https://www1.fips.ru/about/deyatelnost/mon-fips -2018.xls (accessed: 02.03.2020)

Monitoring of qualitative and quantitative FIIP indicators for 2017 // Official site: Federal Institute of Industrial Property [Electronic resource] URL: https://www1.fips.ru/about/deyatelnost/ nauchnaya-deyatelnost/mon_fips_2017.xls (accessed: 02.03.2020)

Monitoring of qualitative and quantitative FIIP indicators for 2016 // Official site: Federal Institute of Industrial Property [Electronic resource] Access mode: URL: https://www1.fips.ru/about/deyatelnost/ nauchnaya-deyatelnost/mon_fips_2016.xls (accessed: 02.03.2020)

Monitoring of qualitative and quantitative FIIP indicators for 2015 // Official site: Federal Institute of Industrial Property [Electronic resource] Access mode: URL: https://www1.fips.ru/about/deyatelnost/ nauchnaya-deyatelnost/monitoring_2015.xls (accessed: 02.03.2020)

Monitoring of qualitative and quantitative FIIP indicators for 2014 // Official site: Federal Institute of Industrial Property [Electronic resource] URL:https://www1.fips.ru/about/deyatelnost/ %D0%9A%D0%BE%D0%BF%D0% B8%D1%8F%20mon_fips_2014.xls (accessed: 02.03.2020)

Monitoring of qualitative and quantitative FIIP indicators for 2013 // Official site: Federal Institute of Industrial Property [Electronic resource] URL: https://www1.fips.ru/about/ deyatelnost/mon_fips_2013.xls (accessed: 02.03.2020)

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Abstract

Subject / Topic The article is devoted to the analysis of financing tools for small and medium enterprises in Eurozone countries.

Goals / Objectives The aim of the work is to study the reasons that determine the choice of instruments for financing investment and innovation projects by small and medium enterprises, as well as factors affecting the behavior of small and medium enterprises in interaction with potential investors. The objectives of the work are to analyze the demand for various sources of financing for small and medium-sized enterprises on the basis of data from surveys conducted by the European Central Bank, as well as to determine the factors affecting the choice of financing instruments by enterprises. In addition, the work provides data on the frequency of application of financing tools for small and medium enterprises in individual countries of the Eurozone.

Methodology The study of statistical data is carried out, the analytical tools are used together with the theoretical analysis and generalization.

Conclusions and Relevance Based on the analysis, the author determines the main financing tools for small and medium enterprises in Eurozone countries and the factors that influence the choice of sources and financing tools by small and medium enterprises. Also, the author points out the need for state financial support for small and medium-sized businesses to ensure the innovative development of the economy.

Keywords: small and medium enterprises, financing instruments, overdraft, leasing, bank loan, commercial loan.

References:

Dubova (2019) – Dubova S.E. Stimulating regulation as an essential factor in the development of the banking sector [Stimuliruyushcheye regulirovaniye kak sushchestvennyy faktor razvitiya bankovskogo sektora] // Scientific works of the Free Economic Society of Russia [Nauchnyye trudy Vol’nogo ekonomicheskogo obshchestva Rossii]. 2019.Vol. 219. No. 5. p. 133-143.

Zakharova (2019) – Zakharova O.V. Problems and prospects for the development of leasing in Russia [Problemy i perspektivy razvitiya lizinga v Rossii] // Economy. Business. Banks [Ekonomika. Biznes. Banki] 2019.No 2 (29). p. 75-85.

Berger, Udell (2002) – Berger A. N., Udell G. F. Small business credit availability and relationship lending: The importance of bank organisational structure, The Economic Journal, 112. Jg., Heft 477, p. F32-F53.

Block, Moritz, Masiak (2017) – Block J.; Moritz A.; Masiak C. Heterogeneity in Financing SMEs in Europe, in Welter, F.; Block, J. (ed.): Mittelstand aktuell, Ausgabe 02/17, Bonn.

Butkowski, Hoffmann, Nielen, Schröder (2019) – Butkowski O., Hoffmann M., Nielen S., Schröder C. Influences on SME financing – A comparison of selected Euro countries – IFM materials No. 275, Bonn.

Gómez-Mejía, Haynes, Núñez-Nickel, Jacobson, Mo-yano-Fuentes (2007) – Gómez-Mejía, L. R.; Haynes, K. T.; Núñez-Nickel, M.; Jacobson, K. J.; Mo-yano-Fuentes, J. Socioemotional wealth and business risks in family-controlled firms: Evidence from Spanish olive oil mills, Administrative Science Quarterly, 52. Jg., Heft 1, p. 106-137.

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Masiak, Block, Moritz, Lang, Kraemer-Eis (2017) – Masiak C.; Block, J. H.; Moritz, A.; Lang, F.; Kraemer-Eis, H. Financ-ing Micro Firms in Europe: An Empirical Analysis, EIF Working Paper, 2017/44, Luxembourg.

Moritz, Block, Heinz (2016) – Moritz A., Block J. H., Heinz A. Financing patterns of European SMEs – an empirical taxonomy, Venture Capital, 18. Jg., Heft 2, p. 115-148.

Subject/ Topic The management of pension assets (pension savings funds /PSF/ and pension reserve funds /PRF/), implemented by a non-state pension fund (NPF) directly or through its management company (MC) in accordance with the trust management agreement, is an important part of functioning of the pension system. The results of such management depend on the fulfillment of pension obligations to depositors/participants, insured persons in full and within the established time frame. In addition to state control over the management of pension assets, the Russian pension system also has a mechanism for non-state control. It is represented by the supervisory functions of a specialized depository (SD). The subject of the research in this article is the role of a specialized depository in the system of non-state control over the activities of pension market entities, including in connection with recent changes in legislation.

Goals/Objectives Analysis of the main functions implemented by the SD at the present time and formulation of the proposals for their improvement.

Methodology The research methodology is based on the comparative analysis of the pension system functioning in the Russian Federation and the OECD countries, process-oriented, statistical methods, and the author’s own achievements made in the course of work in the specialized depository.

Conclusions and Relevance The article highlights the main functions of the specialized depository – accounting and control. In this regard, the author substantiates the idea that in the current conditions of the pension market functioning (the introduction of risk-oriented supervision by the state regulator, the construction of a risk management system in non-state pension funds and management companies participating in the pension system, the use of stress testing tools, etc.), specialized depositories could be given all the functions of accounting for pension funds, reporting to regulatory authorities.

Keyword: specialized depository, accounting, control, non-state pension fund, management company, risk management, stress testing, pension assets.

References

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Pensions at а Glance. 2019 // OECD [Электронный ресурс] – Режим доступа: https://www.oecd.org/els/oecd-pensions-at-a -glance-19991363.htm (accessed: 01.02.2020).

Resolution оf the Government of the Russian Federation of 01.02.2007 No. 63 (ed. of 26.08.2013) «Оn approval оf the rules for placing funds of pension reserves of non-state pension funds and control over their placement» // Rossiyskaya Gazeta. – 07.02.2007; [Electronic resource]: Consultant Plus – Access mode: http://www.consultant.ru/document/cons_doc_LAW_65876/ [Postanovlenie Pravitel’stva RF ot 01.02.2007 №63 (red. ot 26.08.2013) «Ob utverzhdenii Pravil razmeshcheniya sredstv pensionnyh rezervov negosudarstvennyh pensionnyh fondov i kontrolya za ih razmeshcheniem» //Rossijskaya gazeta. 07.02.2007; [Elektronnyj resurs]: Konsul’tant Plyus – Rejim dostupa: http://www.consultant.ru/document/cons_doc_LAW_65876/ ] (accessed: 01.02.2020). (In Russian).

The draft Guidelines of the Bank of Russia «On requirements for formation of the composition and structure of pension reserves, investment sites (other than state securities of the Russian Federation, bank deposits) that private pension funds have the right to place the funds of pension reserves, and cases where the management company, acting as trustee of funds of pension reserves, may enter into repurchase agreements» (as 08.11.2019) (prepared by the Bank of Russia project ID 04/15/11-19/00096889) //[Electronic resource]: Consultant Plus. – Access mode: http://www.consultant.ru/cons/cgi/online.cgi?req=doc& [Proekt Ukazaniya Banka Rossii «O trebovaniyah po formirovaniyu sostava i struktury pensionnyh rezervov, ob”ektah investirovaniya (pomimo gosudarstvennyh cennyh bumag Rossijskoj Federacii, bankovskih depozitov), v kotorye negosudarstvennye pensionnye fondy imeyut pravo samostoyatel’no razmeshchat’ sredstva pensionnyh rezervov, i sluchayah, kogda upravlyayushchaya kompaniya, dejstvuya v kachestve doveritel’nogo upravlyayushchego sredstvami pensionnyh rezervov, vprave zaklyuchat’ dogovory repo» (po sostoyaniyu na 08.11.2019) (podgotovlen Bankom Rossii, ID proekta 04/15/11-19/00096889) //[Elektronnyj resurs]: Konsul’tant Plyus – Rejim dostupa: http://www.consultant.ru/cons/cgi/online.cgi?req=doc&] (accessed: 01.02.2020). (In Russian).

Subject/Topic The article describes the main types of foreign trade policy, factors affecting the choice of foreign trade policy and the main current trends in foreign trade policy of the world leading countries and Russia.

The relevance of this topic is justified by the growing interest in studying the influence of foreign trade policy of countries on the general economic and political situation of a single world community.

Goals/Objectives The objectives are to study the main types of foreign trade policy of countries, to determine the factors that influence the choice of foreign trade policy of the state and the analysis of current trends in foreign trade policy of leading countries and Russia.

Conclusions and Relevance The foreign trade policy of each country consists of a combination of two opposing types of foreign trade policy: liberalization and protectionism. The main factors that influence the choice of the state’s foreign trade policy are the level of development of the country’s economy, the type of country’s economy, the stage of the economic cycle and the current political situation. A common modern trend in a foreign trade policy for all countries is its liberalization, which is based on an increase in the number of preferential trade agreements and a reduction in tariffs, but accompanied by surges in protectionism, especially during crisis and political conflicts.

Keywords: foreign trade policy, liberalization, protectionism, economics, foreign trade, trends, most-favored-nation treatment.

References:

Bulatov (2019) – Bulatov A.S. World economy and international economic relations. Full course (for bachelors): Textbook [Mirovaya ekonomika i mezhdunarodnye ekonomicheskie otnosheniya. Polnyj kurs (dlya bakalavrov): Uchebnik] / A.S. Bulatov. – Moscow: KnoRus, 2019 – p. 916 [in  Russian]

Burmistrov (2012) – Burmistrov V.N. Foreign trade of the Russian Federation: Training manual [Vneshnyaya torgovlya Rossijskoj Federacii: Ucheb. posobie] / V.N. Burmistrov. – Moscow: Magister: SIC Infra-M, [Magistr: NIC Infra-M] 2012. – p. 416 [in  Russian]

Kadochnikov (2015) – Kadochnikov P.A. Protectionism and liberalization of foreign trade in Russia and the leading countries of the world [Protekcionizm i liberalizaciya vneshnej torgovli v Rossii i vedushchih stranah mira] / P.A. Kadochnikov // Russian Foreign Economic Bulletin. [Rossijskij vneshneekonomicheskij vestnik] – 2015. – No. 3. – p. 3-13 [in  Russian]

Loginov (2016) – Loginov D.R. World Trade Organization as a means of liberalizing international trade. Russia in the WTO: advantages and disadvantages [Vsemirnaya torgovaya organizaciya kak sredstvo liberalizacii mezhdunarodnoj torgovli. Rossiya v VTO: preimushchestva i nedostatki] / D.R. Loginov // Economics. – 2016. – No. 7. – p.81-86 [in  Russian]

Mishin (2016) – Mishin D.I. Japan and the European Union: relations without problems? [Yaponiya i Evrosoyuz: otnosheniya bez problem?] / D.I. Mishin // Collection of scientific works of the Institute [Sb. nauch. tr. Instituta] / IvGU. – Ivanovo, 2016 .- p.270 – 273 [in  Russian]

Halikova (2018) – Halikova A.F. The problem of the development of protectionism in modern Russia [Problema razvitiya protekcionizma v sovremennoj Rossii] / A.F. Halikova // Walkway of science [Alleya nauki]. – 2018. – No. 3. – p.218 – 223 [in  Russian]

Evenett S.J. The 17th GTA Report: BRICS Trade Strategy: Time for a Rethink [Electronic resource. URL: https://www.globaltradealert.org/reports/22. Access date: 05.03.2020]

Evenett S.J., Fritz J. The 21st GTA Report: Will Awe Trump Rules? [Electronic resource. URL: https://www.globaltradealert.org/reports/42. Access date: 05.03.2020]

Pettinger T. G. Trade Liberalisation [Electronic resource. URL: https://www.economicshelp.org/blog/glossary/trade-liberalisation/. Access date: 04.03.2020]

Walsh S. Liberalization of International Trade [Electronic resource. URL: http://www.globalization101.org/liberalization-of-international-trade/. Access date: 05.03.2020]

Database World Integrated Trade Solutions (WITS) [Electronic resource. URL: https://wits.worldbank.org/. Access date: 05.03.2020]

Ustyuzhanin (2017) – Ustyuzhanin N.K. Tariff and non-tariff methods of  international trade regulation [Tarifnye i netarifnye metody regulirovaniya mezhdunarodnoj torgovli] [Electronic resource. URL: http://finlit.online/ekonomicheskaya-teoriya/tarifnyie-netarifnyie-metodyi-regulirovaniya-17374.html. Access date: 28.02.2020] [in Russian]

Subject/Topic In the context of the development of global economy, digital technologies are used in the financial and economic activities of most modern countries. The active use of digital technologies in all spheres of life makes it possible to significantly simplify the performance of a wide range of financial, credit and other intermediary activities. Currently, there is an active discussion of both applied and theoretical questions about the digital economy. This also affects the developing direction of “systemic economics” in economic theory. It explains the processes of reproduction of the economic system.

Goals/Objectives The purpose of this work is to study the development of the digital economy and its impact on the development of society. Objectives: to study the specifics of the digital economy; to study the features of the digital economy infrastructure in the world economy system; to assess the problems of the digital economy and suggest ways to overcome them.

Methodology In the work were used such research methods as statistics, comparison, and analysis.

Conclusions and Relevance The study has shown that the digital economy is the most important element in the global financial and economic system.

Keywords: globalization, digital economy, world economy, economic growth, national development

References:

Bykov (2018) – Bykov A.Y. System of the legal framework of the digital economy in the Russian Federation [Cistema normativno-pravovoj bazy cifrovoj ekonomiki v Rossijskoj Federacii]. Moscow: Prospect-2017. – P. 778 (In Russian).

Bykov (2018) – Bykov A.Y. The Law of the digital economy: some national economic and political risks. [Pravo cifrovoj ekonomiki: nekotorye narodno-hozyajstvennye i politicheskie riski]. Moscow: Prospect. 2018. – P.736 (In Russian).

Gursky (2017) –Gursky Y., Bondarenko M., Bondarenko S. Photoshop CS2 and digital photo. Best tricks and effects / [Photoshop CS2 i cifrovoe foto. Luchshie tryuki i effekty] – Moscow: Saint Petersburg: Peter-2017. – P. 208

Dubner (2017) –Dubner, Herriot David. First steps. Digital design / Luke [Pervye shagi. Cifrovoj dizajn] – Moscow: AST-2017. – P.160 (In Russian).

Korneychuk (2017) – Korneychuk B.V. The Economy. Business games: [tutorial] [Ekonomika. Delovye igry] – Moscow: Master’s degree: INFRA-M. – 2017. – P. 205 (In Russian).

Kuprevich (2017) – Kuprevich T.S., Turban G.V. Features of the digital economy infrastructure in the world economy / / in the collection: a New word in science and practice Collection of articles based on the materials of the IV international scientific and practical conference [Osobennosti infrastruktury cifrovoj ekonomiki v mirovom hozyajstve // V sbornike: Novoe slovo v nauke i praktike]. – 2017. – P. 60-65. (In Russian).

Rybak (2017) – Rybak S.Y., Lantratov K.V. “Figure” will permeate everything and everything / / Horizons [«Cifra» budet pronizyvat’ vse i vsya ]. 2017. – No. 2. – P. 40-41. (In Russian).

Chernyak (2018) – Chernyak V. Popular history of Economics and business / V. Chernyak [Populyarnaya istoriya ekonomiki i biznesa] – Moscow: Veche-2018. – P. 512 (In Russian).

Yumaev (2017) – Yumaev E.A. Innovation and industrial policy in the light of the transition to industry 4.0: Foreign trends and challenges for Russia / / Journal of economic theory [Innovacionno-promyshlennaya politika v svete perekhoda k industrii 4.0: Zarubezhnye tendencii i vyzovy dlya Rossii]. 2017. – No. 2. P. 181-185. (In Russian).

Yakutin (2017) – Yakutin Y.V. Russian economy: digital transformation strategy / / Management and business administration [Rossijskaya ekonomika: strategiya cifrovoj transformacii] – 2017. – No. 4. – P. 27-52. (In Russian).

Subject/Topic The article discusses the main features of the mechanisms of E-commerce, current state, problems and prospects for the further development of online trading in the financial market of Russia. The relevance of this topic is connected with the widespread use and growing popularity of online trading both in the global and domestic financial markets due to its availability, favorable trading conditions and lack of reference to the time and place of trading, as well as the convenience and speed of operations.

Goals/Objectives The objective of the study was to analyze the current state of online trading in the domestic market, and the main factors that hinder the development, as well as to identify the opportunities and potential for the development of online trading in Russia, and make quantitative comparison of indicators for this type of business in our country and in foreign countries.

Conclusions and Relevance E-commerce on exchanges is gaining significant popularity around the world and becoming one of the promising and convenient ways to invest. The Russian stock market is quite young and at the moment cannot compete with the largest players on the world stage, but it has great growth potential and is of interest to foreign investors.

Keywords: online trading, stock market, online broker, e- commerce.

References:

Medvedeva, Bezsmertnaya (2017) – Medvedeva M.B., Bezsmertnaya A.S. Features of online trading and the direction of its development [Osobennosti internet-trejdinga i napravleniya ego razvitiya] / Medvedeva MB, Bezsmertnaya A.S. // Banking services, 2017. – No. 8.- P.11 [in Russian]

What is Online Trading. [Electronic resource. Access mode: https://www.iforex.in/getting-started. Date of access: 16.03.2020]

Kudryashov A. A. Internet trading [Internet-trejding], [Electronic resource. Access mode: http://elib.psuti.ru/Kudryashov_Internet_trejding.pdf. Date of access: 03/14/2020], [in Russian]

Vukolova, Danshina (2016) – Vukolova E.G., Danshina E.I. Internet trading in the Russian securities market [Internet-trejding na rossijskom rynke cennyh bumag] // Electronic scientific and methodological journal of the Omsk State Agrarian University, 2016. No. 4 (7). P.18, [in Russian]

Shevchenko (2017) – Shevchenko O.M. Legal regulation of the organization of trade in the securities market: innovations in Russian legislation and current problems: monograph [Pravovoe regulirovanie deyatel’nosti po organizacii torgovli na rynke cennyh bumag: novacii rossijskogo zakonodatel’stva i aktual’nye problemy: monografiya] / O. M. Shevchenko. – Moscow: Prospect, 2017. 344 p., [in Russian]

Moscow Exchange [Electronic resource. Access Mode: https://www.moex.com. Date of access: 03/18/2020]

Information portal InvestFunds [Electronic resource. Access mode: http: //investfunds.ru. Date of access: 03/14/2020], [in Russian]

Database of the World Federation of Exchanges [Electronic resource. Access Mode: https://www.world-exchanges.org. Date of access: 03/14/2020]

ONLINE TRADING [Electronic resource. Access Mode: https://academy.investopedia.com. Date of access: 03/17/2020]

WHAT IS ONLINE TRADING & HOW TO DO IT [Electronic resource. Access Mode: http://www.angelbroking.com/online-share-trading/what-is-online-trading. Date of access: 03/17/2020]

Subject / Topic Analysis of the National Welfare Fund

Goals / Objectives To explore the areas of use of the National Welfare Fund in the Russian Federation and to consider possible prospects for the further development of this body.

Methodology The methodological basis is the analysis of the dynamics of budgetary funds that form the total amount of resources of the National Welfare Fund, as well as the analysis of the dynamics of the external economic situation in 2019. In addition, the analysis of the results of investing funds of the National Wealth Fund in various assets is presented, which reflects not only the direction of use of these funds, but also indicates possible prospects. The value of the funds of the National Welfare Fund is significant not only for certain persons of higher bodies, but also for the development of the entire economy, since the financial resource is one of the most necessary for the development of a particular system, and within the framework of projects of domestic producers support, as well as within the framework of socially significant projects, the funds of the National Welfare Fund are the main lever on the way to achieve a stable position in the market for relevant services.

Conclusions and Relevance The formation of sovereign funds of money is aimed not only at maintaining some individual organizations relating to various spheres of society, but also at developing of the whole economy.

Keywords: National Welfare Fund, prospects, efficiency, direction of use, cash, assets

References:

Sazonova, Titova, Kozlova (2018) – Sazonova V.S., Titova O.V., Kozlova E.I. Dynamic and structural analysis of indicators of monetary income of the Russian population [Dinamicheskiy i strukturnyiy analiz pokazateley denezhnyih dohodov naseleniya Rossii] Journal of Science: Innovative economy: prospects for the development and improvement [Innovatsionnaya ekonomika: perspektivyi razvitiya i sovershenstvovaniya] Kursk: 2018 # 1(27)

Ministry of Finance of Russia/ / national welfare Fund/Purpose-URL: https://www.minfin.ru/ru/perfomance/ nationalwealthfund/mission/ [Electronic resource] (accessed 02.03.2020)

Official website of the Ministry of Finance [Electronic resource] / access Mode: https://www.minfin.ru/ru/. (accessed: 02.03.2020)

Central Bank of the Russian Federation / / foreign exchange rate Database / Dynamics of the official exchange rate of a given currency [Electronic resource] URL: https://www.cbr.ru/currency_base/dynamics/ (accessed: 02.03.2020)

Lykova E. A. National Welfare Fund of the Russian Federation / / Scientific community of students: interdisciplinary research: XXXVII Intern. Studio. science. – practice. Conf. #. 2(37). [Electronic resource] URL: https://sibac.info/archive/meghdis/. 2018: 2(37). pdf (accessed: 02.03.2020)

The Budget code of the Russian Federation of 31.07.1998 №145–FZ (as adopted by the state Duma 17.07.1998, the current version).

RBC // The Ministry of Finance has revealed the formula for buying currency URL: https://www.rbc.ru/economics/25/01/2019/ 5888d5e09a794734a1bec065 [Electronic resource] (accessed 05.03.2020)

Information from the official website of the Ministry of Finance of the Russian Federation: [Electronic resource] URL: http://minfin.ru/ru/document/?id_4=125956&area_id=4& page_id=2104& popup=Y#ixzz5XCl9ih55 (accessed: 02.03.2020)

Russian direct investment Fund / / investing in Russian projects is more profitable than in US securities –RDIF-URL: https://rdif.ru/fullNews/4646/ [Electronic resource] (accessed: 02.03.2020)

VEDOMOSTI / / The Government has decided where to invest a trillion from the NWF – [Electronic resource] URL: https://www.vedomosti.ru/economics/ articles/2019/12/01/817589-pravitelstvo-reshil (accessed: 02.03.2020)

Subject/Topic The article is devoted to the assessment of the consumer lending dynamics in the Russian Federation.

Goals/Objectives The goal of this work is to study the process of consumer lending, determine the patterns and dependencies of its development in Russia, and assess the factors that can affect it. Tasks of the work are to analyze the dynamics of real and nominal wages, their changes by income levels of the population, as well as, to study the dynamics of inflation in the Russian Federation. In addition, the article considers the weighted average interest rates on consumer loans and the average lent amounts for them.

Methodology The research of statistical data is carried out, analytical tools as well as theoretical analysis and generalization are applied.

Conclusions and Relevance Based on the analysis, the author draws conclusions about the current state of consumer lending, which, in his opinion, is in a position of sustainable development and has conservative trends. The author also makes suggestions for the improvement of the process of consumer lending and minimization of the emerging risks by introducing additional risk-oriented policies, methods and coefficient systems issued and established by the Central bank of the Russian Federation, updating and modernizing existing instructions and creating a single information space on borrowers’ debts for banks.

Keywords: consumer lending, conservative development, risk minimization, “creditworthiness” of the population, Russian economy, banking sector.

References:

Avdeeva, Kulakov (2019) – Avdeeva V.I., Kulakov N.N. Consumer lending in Russia in modern economic conditions [Potrebitelskoe kreditovanie v Rossii v sovremennyh ekonomicheskih usloviyah] // Bulletin of the Altai academy of economics and law [Vestnik Altajskoj akademii ekonomiki i prava], 2019, №9-2, P. 5-11 [S. 5-11]. [In Russian];

Bulavenko, Vasilenko (2016) – Bulavenko O.A., Vasilenko A.V. The comparative analysis of consumer loans [Sravnitelnyj analiz potrebitelskih kreditov] // Scientific notes of Komsomolsk-on-Amur state technical university [Uchenye zapiski Komsomolskogo-na-Amure gosudarstvennogo tekhnicheskogo universiteta], 2016, №3 (27), P. 87-90 [S. 87-90]. [In Russian];

Ekimova (2018) – Ekimova E.A. The analysis of the status and dynamics of consumer crediting in Russia [Analiz sostoyaniya i dinamiki potrebitelskogo kreditovaniya v Rossii] // Economics and business: theory and practice [Ekonomika i biznes: teoriya i praktika], 2018, №1, P. 45-49 [S. 45-49]. [In Russian];

Kulikov (2016) – Kulikov D.M. Analysis of the impact of creditworthiness of the population on the potential growth of consumer lending in Russia in 2016-2017 [Analiz vliyaniya zakreditovannosti naseleniya na potencialnyj rost potrebitelskogo kreditovaniya v Rossii v 2016-2017 godah] // Money and credit [Dengi i kredit], 2016, №10, P. 65-68 [S. 65-68]. [In Russian];

PSC “Sberbank” (SberData) (2019) – PSC “Sberbank” (SberData) [PAO “Sberbank” (SberDannye)] [Electronic resource] [Elektronnyj resurs]. Is there a “bubble” in the consumer credit market? [Est li “puzyr” na rynke potrebitelskogo kreditovaniya?] URL:https://www.sberbank.ru/common/img/uploaded/ files/pdf/analytics/market_bubble.pdf. [In Russian];

Alexandrova L.S., Zakharova O.V., Matveevskii S.S. (2018) – Alexandrova L.S., Zakharova O.V., Matveevskii S.S. Mortgage lending to individuals in Russia during the financial crisis // Journal of Reviews in Global Economics. 2018. № 7. P. 593-607

El-Shagi, Fidrmuc, Yamarik (2019) – El-Shagi M., Fidrmuc J., Yamarik S. Inequality and credit growth in Russian regions // Economic Modelling, 2019, №2019/6, 19 p.;

Kupryaeva (2019) – Kupryaeva E.A. Condition and problems of consumer lending development in Russia // Economics and business: theory and practice [Ekonomika i biznes: teoriya i praktika], 2019, №5-2, P. 113-115 [S. 113-115].

Subject/Topic Analysis of public debt and approaches to its regulation

External public debt is classified according to two criteria: by creditors and by maturity. The Russian Federation bears debt obligations to the participants of the Paris Club, the English Club, as well as to Western commercial structures for the supply of goods and services and to international monetary and financial organizations (EBRD, IBRD, IMF). Modern Russia pays to foreign creditors the debt of the former USSR, which was transmitted “by inheritance”, and the so-called “new” Russian debt. The paper analyzes the dynamics of the state external debt of the Russian Federation, which determines the methods of debt management: restructuring, prolonging, establishing the level of annual borrowing.

Goals/Objectives The purpose of the research is to determine approaches to regulate the state external debt of the Russian Federation. To achieve this goal, the article reveals the essence of public debt, gives the classification of its types, defines the historical period when the first borrowing of funds from foreign countries was carried out in Russia.

Methodology Analysis, comparison, generalization.

Conclusions and Relevance In the framework of the research, the concept of state deficit was considered, since it is precisely this state of the budget that leads to the formation of public debt.

Keywords: public external debt, classification of types of public external debt, state financial policy, gross domestic product, public debt management system, external creditors, international monetary organizations

References:

Budget code of the Russian Federation Electronic resource: access Mode: URL: http://www.consultant.ru/document/cons_doc_LAW_19702/

Federal law No. 380-FZ dated 02.12.2019 “On the Federal budget for 2020 and for the planning period of 2021 and 2022” Electronic resource: access Mode: URL:http://www.consultant.ru/document/cons_doc _LAW_339305/ 22f32f8ea88351e8d76707a067f06a877b63edd6

Zolotarchuk (2015) – Zolotarchuk V.V. Macroeconomics: textbook /– 2nd ed.: research center INFRA-M, 2015. – 537 p. (In Russian)

Brodsky (2017) – Brodsky B.E. Macroeconomics: Advanced level: a course of lectures /– M.: Master: INFRA-M, 2017. – 336 p. (In Russian)

Mokhnatkina (2015) – Mokhnatkina L.B. State and municipal debt. – INFRA-M, Moscow: 2015. – 151 p. (In Russian)

Nikolaychuk (2018) – Nikolaychuk O.A. External debt of Russia [Text]: monograph / N. O. Lunina,. – 2nd ed., – INFRA-M, Moscow: 2018. – 132 p. (In Russian)

Tsypin I. S. State regulation of the economy: Textbook/ I. S. Tsypin, V. R. Vesnin-M.: SIC INFRA-M, 2015. – 296 p. (In Russian)

Abysheva A.V. State debt of Russia: assessment of the current state: article [Electronic resource]. – URL: https://naukovedenie.ru/PDF/60EVN516.pdf (In Russian)

State external debt of the Russian Federation (2011-2020) Electronic resource:URL:https://www.minfin.ru/ru/perfomance/ public_debt/external/structure/?id_38=69444 gosudarstvennyi_vneshnii_dolg_rossiiskoi_federatsii_2011-2020_gg.

Domashenko A. A. State debt of the Russian Federation in the conditions of crisis: analysis of structure and dynamics, prospects of management: article [Electronic resource]. – URL: http://web.snauka.ru/issues/2017/02/78879

Kuzmina A. I., Borovkova V. A.The problem of external public debt of Russia in modern conditions: article Electronic resource: access Mode: URL:https://sibac. info/journal/student/7/77821

The structure of the state external debt of the Russian Federation on 01.02.2020 Electronic resource: access Mode: – URL: https://www.minfin.ru/ru/perfomance/ public_debt/external/structure/?id_39=129685struktura_gosudarstvennogo_vneshnego_dolga _rossiiskoi _federatsii_na_1_fevralya_2020_goda

Subject The relevance of the topic of work is determined by the fact that one of the significant factors that reduce the effectiveness of business in Russia today is corporate fraud – a criminal attack on the assets of firms carried out by the company’s own employees. In Russia, hundreds of organizations annually suffer from fraudulent acts committed within the organization. Multimillion-dollar losses not only undermine the country’s economy as a whole, but also negatively affect the reputation of companies on the world stage.

Objectives Consideration of the concept of corporate fraud, analysis of the system of combating corporate fraud in the Russian Federation and abroad (USA, UK, Canada) and a comparison of the main regulatory documents.

Methods The methods used were theoretical analysis and synthesis, comparison and classification, induction and deduction.

Results During the analysis of the main regulatory documents, the main vulnerabilities in the legal system of the Russian Federation in the field of corporate fraud were identified and recommendations for their elimination were given.

Conclusions In Russia, the process of optimizing the corporate fraud system is just beginning to improve. In the USA, Canada and Great Britain, this problem was highly relevant in the middle of the 20th century. Thus, there are practically no Russian own methodological developments in the field of combating corporate fraud, so you have to rely either on traditional investigation methods adopted by law enforcement agencies or on audit standards.

Keywords: Corporate fraud, Internal control, Audit, Economic security service, Compensation control, Sarbanes-Oxley law.

References:

Varnakova (2017) – Varnakova I.Y. Counteraction to corporate fraud as a basis for ensuring economic security of organizations [Protivodejstvie korporativnomu moshennichestvu kak osnova obespecheniya ekonomicheskoj bezopasnosti organizacij] // Innovative development of the economy [Innovacionnoe razvitie ekonomiki] – 2017. – No 6 (42). – P. 365. (In Russian)

The Criminal Code of the Russian Federation of June 13, 1996 No. 63-FZ (as amended on December 27, 2018, as amended and supplemented, entered into force on January 8, 2019) [Ugolovnyj kodeks Rossijskoj Federacii ot 13.06.1996 № 63-FZ (red. ot 27.12.2018, s izm. i dop., vstup. v silu s 08.01.2019)] // Collection of legislation of the Russian Federation [Sobranie zakonodatel’stva RF.] – 06/17/1996. – No 25. – Article 2954. (In Russian)

Ulyanova (2016) – Ulyanova O.V. Corporate Fraud in Financial Statements [Korporativnoe moshennichestvo v finansovoj otchetnosti] // Scientific Journal.  [Nauchnyj zhurnal] – 2016. No 9 (10) – P. 33-35. (In Russian)

The Code of the Russian Federation on administrative offenses dated December 30, 2001 No. 195-FZ [Kodeks Rossijskoj Federacii ob administrativnyh pravonarusheniyah ot 30.12.2001 № 195-FZ] (as amended on March 18, 2019, as amended and supplemented, entered into force on March 29, 2019) // Collection of legislation of the Russian Federation.[Sobranie zakonodatel’stva RF] 01/07/2002. – No. 1 (part 1). – Art. one.;(In Russian)

Methods of counteracting corporate fraud [Metody protivodejstviya korporativnomu moshennichestvu] Electronic resource: access Mode: URL: https://searchinform.ru/resheniya/biznes-zadachi/preduprezhdenie-moshennichestva/korporativnoe-moshennichestvo/protivodejstvie-korporativnomu-moshennichestvu/metody-protivodejstviya-korporativnomuu (In Russian) (accessed 12/04/2019).

The official website of the organization “ACFE” – REPORT TO THE NATIONS 2018 GLOBAL STUDY ON OCCUPATIONAL FRAUD AND ABUSE. Electronic resource: access Mode: URL: https: // s3-us-west- 2.amazonaws.com/acfepublic/2018-report-to-the-nations.pdf (accessed 12/04/2019).

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