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Vol 13, No 4 (2019)
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ECONOMY OF THE XXI CENTURY

6-13 1099
Abstract

From the middle of the XIX century up to the end of the XX century, Israel has developed from an agrarian country to the country with an industrial economy and advanced science sector. A significant part of the immigrants of the Jewish community of Palestine were representatives of academic science and engineers. Their number was periodically replenished by highly educated immigrants from Europe. Scientists, university professors and engineers have become the only “natural” resource available to the country in abundance. The first successes Israel scientists have achieved in the field of agriculture — they invented the drip irrigation and its hybrid varieties, leading to high yields in severe local conditions. The Office of the Chief Scientist (OCS), established in 1969, played a leading role in the development of Israeli science and technology. The influence of the military-industrial complex on the formation of Israel NIS was significant. The high technologies developed for the Israel Defense Forces (IDF) were further adapted for the civilian market. IDF has also become a provider of highly qualified personnel for civilian industries. In 1950–1960 Israel established specialized transfer companies based on leading national universities to commercialise technologies developed at universities and research institutes. The successful experience of state support of innovations in Israel has become an example for many countries, including Russia.

14-21 4535
Abstract

The article is devoted to determining the place of renewable energy sources (RES) in the new industrial revolution. The peculiarity of the Fourth industrial revolution, unlike the previous ones, is a particular account of the anthropogenic impact of human activities on the environment. One of the ways to reduce carbon dioxide emissions into the atmosphere is the use of renewable energy technologies. In the article, the author outlined the prerequisites and prospects for the development of renewable energy in Russia and the world, as well as considered the world and domestic experience in the use of renewable energy. On this basis, the author concluded that it is expedient to develop renewable energy sources in Russia. Besides, the author showed that the development of renewable energy technologies could act as a driver of innovative modernisation of the economy and a source of formation of a low-carbon (green) economy characterised by high energy efficiency, energy independence and minimal impact on the environment.

22-30 1747
Abstract

This paper is devoted to the analysis of modern trends in economic cybersecurity. We analysed the dynamics of cyber-attacks over the past five years and, particularly, pointed on the main trends of 2018 year. Our analysis showed great diversity and variety of cyber-criminal actions: global espionage, financial attacks, card fraud, information theft and phishing, network attacks and traffic interception, cryptographers and extortionists, crypto-jacking. Further, we attempted to predict cyber threats that await us soon. We expected the main problems come from smart cyber-attacks, based on the latest technologies of artificial intelligence (AI) and machine learning (ML), as well as exploiting the vulnerabilities of the Internet of Things. Therefore, we ought to apply integrated approaches using the same innovative technologies. The cyber-crime industry will increasingly consolidate — the efforts will be focused on automating and streaming criminal cyber activities, and new technologies will further reduce the cost of searching for vulnerabilities. It means development of hacking tools while accelerating the speed and scale of attacks. We must implement an integrated, echeloned approach with the same innovative technologies of AI and MO used by hackers, to fight effectively with future cyber threats. Small and medium businesses will have the opportunity to purchase a cyber-defence service. An improvement of the internal IT culture in the company remains the critical issue, which is still a weak link in the chain and the target of cyber-attacks. We discuss the measures of legislative state support in Europe and Russia against cybercrime in the final section of the paper, followed by conclusion.

31-40 1065
Abstract

This article presents an analysis of the patent activity of domestic and foreign applicants in Russia, based on the data from patent statistics for 2009–2018. The source of the study was the data of the annual reports of Rospatent. The purpose of this research is to identify the indicators of patent activity and their dynamics. It allows us to assess the current state of scientific and technical potential and emerging trends in the scientific and technological development of Russia. The research concerns intellectual property related to the objects of patent rights according to the Russian civil law: inventions, utility models and industrial designs. This article presents an analysis of the patent activity in Russia concerning inventions. The author revealed that in recent years there had been a decreasing interest in this type of patent rights objects from both domestic and foreign applicants, which has harmed the dynamics of patent activity indicators regarding inventions.

FINANCIAL ANALYTICS

41-50 1442
Abstract

The literature on the assessment of factors affecting cross-border capital flows is usually characterised by distinguishing of external and internal factors. The former as a rule include international indices of the global economic growth rate, interest rates and other indicators of profitability (for certain types of financial assets). The latter include domestic indices of the growth rate of the national economy, interest rates and the profitability of financial instruments, sovereign credit ratings. Since the beginning of the 21st century, cross-border capital flows in Russia have followed the same trends as capital flows in other emerging markets. A distinguishing feature of Russia was the negative impact of sanctions on the level of its financial openness. We estimated regressions, designed to evaluate the factors affecting the individual components of cross-border capital flows in Russia. Regressions for the three types of flows (liabilities of direct investment and portfolio investment liabilities, and assets) demonstrate good results. Among external factors, the dynamics of oil prices turned out to be significant, as well as the global stock index (for portfolio investment assets). Among internal factors, an increase in aggregate demand helps to attract foreign direct investment, and an increase in the yield of Russian financial assets (stocks and bonds) — to attract portfolio investments. The difference in interest rates is the determinant of all analysed capital flows. Our estimations confirmed the significance of the “round-tripping” movement of foreign direct investment in Russia.

51-61 740
Abstract

The main objective of the study was the identification of the key channel of impact of positive and negative external shocks on the Russian banking system for the period from 2000 to 2017. In conducting the study the author used systematic and statistical methods of analysis. Throughout the named period, the banking sector of Russia was always under the influence of one or another external shock: rising and falling oil prices; favorable conditions for obtaining financing on the global capital market; the global financial and economic crisis; the European debt crisis; the tapering of the quantitative easing policy in the USA; sanctions imposed on Russia by the Western countries. In the pre-crisis period, capital inflows became the main channel for the transmission of external shock. In the course of the European debt crisis, problems with attracting external financing became a key channel for the transfer of external shock. During the global crisis and the crisis of 2014–2016 the channels of transmission of external shocks to the banking sector of Russia, despite various causes, were in many ways similar. So, the main channels were the outflow of capital, the restriction of external financing, the collapse of the ruble exchange rate, and the state of confidence in the banking sector.

WORLD ECONOMY

62-71 1638
Abstract

The article focuses on the analysis of the innovative component of the Chinese initiative “One Belt, One Road” and its positioning as a “Digital Silk Road”. The Chinese initiative “One Belt, One Road” as its practical implementation demonstrates its new features and peculiarities. The article analyses the practice of introducing new technologies into production in Chinese enterprises, as well as interaction with Russian and Kazakhstan companies. The article is based on the problem-factual principle of presentation of the material using the method of factor analysis of information obtained in the course of economic and statistical data collection and processing. The primary sources used in the present article are mainly the original works of Chinese authors, as well as publications in Russian scientific journals and the media. Electronic commerce, as well as several new technologies used on the routes of the new silk road like the Internet, artificial intelligence, big data, cloud computing, blockchain, are becoming a basis of new Silk Road. The transition to the digitalisation of the new Silk Road is determined by the significant achievements of China in the development of electronic commerce, artificial intelligence, FinTech. The concept of digitalisation includes the main imperatives of the “Fourth industrial revolution”, which are beginning to be introduced along the routes of the economic belt of the Silk Road.

72-78 1314
Abstract

The article analyses the main innovations of the modernised free trade agreement between the European Union and Mexico, signed in April 2018. The author examined such aspects of the agreement as the liberalisation of trade in food, telecommunications, financial services, as well as e-commerce, providing access to the market of government procurement, protection of intellectual property rights, investment facilitation and other. Members of the EU emphasised that the conclusion of a “new generation” trade agreement with Mexico is in line with the updated foreign economic strategy of this integration association, aimed at promoting the commercial interests of the European business outside the EU. They also argue that Mexico is a desirable market for the European companies, given the size of its economy, its population, and its membership in NAFTA. Therefore, the entry into force of the modernised agreement will allow the intensification of the trade and investment relations between the partners. The latter should provide an additional incentive for their economic development, especially for Mexico.

ECONOMIC THEORY

79-89 3071
Abstract

The digital economy is a new, quite fast developing, social and economic phenomenon. The economic theory lags significantly behind the dynamics of this phenomenon. Until now, the term digital economy has been understood by analytical and empirical specialists as various phenomena and processes. In this article, we propose a new approach to defining the essence of the digital economy. Thus, we analyse available definitions of the term digital economy based mainly on the sectoral approach. Here arise problematic issues when using this approach to the definition of the digital economy. Besides, we make a distinction between the terms the digital economy and the digital sector of economy, as well as a criterion to distinguish the digital and non-digital economy. We pay much attention to new approaches to defining the digital economy. Some researchers based the research and the definition, taking into account the impact of a man as an operator of production processes acting on objects and instruments. On the contrary, in this article we define the digital economy as an economic activity of people focusing on a feature that the impact of a person as a manufacturer of products is not on objects of labour and instruments but management systems of such instruments. So, the non-digital economy is characterised by the impact of a person on objects or instruments. Firstly, the digital sector of the economy is production where a person influences the systems of instrument management. Secondly, the development and design of new systems of instrument management. Results of theoretical studies of the essence of the digital economy have essential applications. First of all, it concerns the issues of state policy development in the digital economy.

REAL SECTOR

90-102 681
Abstract

In the article, we consider changes in the arrangement of the subjects of the Russian Federation in terms of labour productivity for the period 2000–2017. We show that currently in Russia, there is an extremely high differentiation of regions in terms of labour productivity, and over the past two decades, there has been an increase in it. The figures that allow us to conclude about the unique territorial structure of Russia we give in the text, namely: part of the Russian regions belong to the group of core countries in terms of technological development; the other part — to the countries of the semi-periphery; the third — to the countries of the periphery. We showed that in the periods of 2000–2010 and 2010–2017 characterised completely different structural schemes of the country’s development. The share of so-called “between effect” in the growth of the total labour productivity in Russia in the second period increased more than ten times as compared to the first period. It means that in the second decade of the XXI century the country’s regional labour overflows accelerated. It simultaneously contributed to the growth of productivity and even more entrenched concentric model of development, increasing the differentiation of subjects of the Russian Federation.

103-114 831
Abstract

In order to achieve the maximum possible efficiency of modern management in Russia in the market of individual housing communication should be built considering the relationship between market actors, on the basis of which is formed by the housing promotion object that allows you to improve the economic efficiency of an entity in the long term through the generated values relationships. The article is devoted to the consideration of the interaction of key actors in the private housing market, participating in the promotion: building organisations, Realtor firms and consumers. The subject of research: the process of interaction between construction companies, real estate agents and consumer firms, which formed values which affect the effectiveness of the promotion. Tendencies of the development of the individual residential market on the example of the city of Novosibirsk, which allowed updating communication processes of market agents. Despite massive amounts of residential construction, the sales volume of objects of individual pages.

115-125 696
Abstract

In the article, the authors present the results of the analysis of the structure of multidimensional data on the factors of use of information and communication technologies (ICT) for the development of the information society in the Russian Federation. We chose the subjects of the Russian Federation as the objects of observations, and the average annual values of the corresponding factors of monitoring the development of the information society in the Russian Federation for the period from 2010 to 2017 as the factors of each object of observations. The study was carried out to reduce the set of factors of ICT use in the subjects of the Russian Federation and identify their structure. The analysis of the structure of factors is carried out by applying the Principal Component Analysis (PCA) method, implemented by the authors in the integrated development environment Rstudio. Through the use of the PCA method, we identified the structure of the initial factors of ICT use for the development of the information society in the Russian Federation and made their reduction. Then, we showed that the identified factor loads have specific semantic interpretations that consolidate the links of individual factors of ICT use for the development of the information society in the Russian Federation. The factor analysis carried out by us proves the effectiveness of the DCA method in research on the development of digitalisation of the regions of the Russian Federation for structuring the initial data and qualitative interpretation of the results. We have proved that factor loadings revealed employing the application of a method of RSA have the deterministic economic sense.

EXPERT REPORT

126-134 1296
Abstract

The article analyses the state of public health in modern Russia, the dynamics of demographic indicators, healthy life expectancy, primary and general morbidity, disability, mortality in infancy and working age. We also present comparisons using international statistics from the World Bank, the World Health Organization and the OECD. Further, we give the characteristic of the factors influencing public health in Russia. The article presents the results of Russian researchers of public health and their foreign colleagues, showing that most of the deaths and diseases of Russians are the result of an incorrect lifestyle. The most significant contribution to mortality and health deterioration has such phenomena as high blood pressure (which itself is a consequence of an unhealthy lifestyle), alcohol abuse, smoking and overweight. The most detailed attention we paid to the underfunding of the health care industry and the negative consequences of the process of its reform.



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ISSN 2220-6469 (Print)
ISSN 2220-7872 (Online)