ECONOMY OF THE XXI CENTURY
This article is devoted to the study of the prospects for the development and implementation of AI in industry in the context of digital transformation. Autonomous factories, integrated supply chains, and autonomous vehicles is a real proof of technological advances that AI brings to life. The article highlights a number of problems and challenges for Russian industry based on the results of applied research conducted in November-December 2023 at 18 medium and large industrial enterprises. The main conclusions include not only the identified systemic problems and risks (shortcomings in digitalisation methodology, ambiguity in calculating economic parameters, lack of technical expertise), but also the most promising areas for the development of AI technologies. The study finds significant potential for enhancing the technologies of the Industry 3.0 and Industry 4.0 paradigms using AI tools. Also, it describe the necessary changes in enterprise management and regulatory government activities aimed at realising the identified potential. In conclusion, the article emphasises the need to optimise parallel imports, develop human capital and adequately analyse the economic parameters of industrial enterprises’ digital transformation project. The authors emphasise the relevance of studying the prospects for the development of AI in industry for Russian economic science in the period 2024–2026.
ECONOMIC POLICY
The article presents an analytical approach to calculating the value of technological scale effect in regional industry clusters using econometric models. This approach allows for the identification of production zones in Russia with the highest technological potential. The authors propose a method for calculating investments based on the traditional investment multiplier. This method enables rapid technological advancements in specific regional and sectoral clusters within the country. The methodology has been tested on two groups related to the agricultural sector: the main group and the control group, each consisting of seven territorial entities of the Russian Federation. The article also discusses the implementation of a selective investment policy to foster economic growth and enhance the performance of existing advanced industries.
ECONOMIC THEORY
The article is devoted to the creation and evolution of ecosystems, the peculiarities of their functioning, the control and communications management. The main characteristics of ecosystems are considered as: modularity, network structure, different types of partnership and competition, complementarity, interdependence, self-regulation, joint value creation, coevolution, etc. Integrated communications create the most optimal conditions for ecosystems’ functioning, ensure the consistency of participants’ interactions, introduce a common culture, rules, basic values, ethics and communication style, which increases motivation and favourably affects the overall image. According to the authors, in the context of decentralised management, the role of compliance control for assessing and preventing compliance risks, as well as the requirements for the organisation of monitoring, is increasing.
The relevance of the study is related to the rapid evolution of ecosystems and their importance for the economy, as well as difficulties in understanding the process of their creation and functioning on the background of the lack of scientific research on the organisation of integrated communications.
The purpose of the article is to study the modern ecosystem management using the analysis of scientific papers, comparison, generalization, analogies, systematic and logical analysis.
The scientific novelty is in the author’s interpretation of the peculiarities of ecosystem functioning.
The practical significance of the work is in the possibility of its use in the creation and improvement of ecosystems within the framework of sustainable innovative development.
In the current economic climate, the Russian industrial sector needs significant structural reform to facilitate its transition to a new, more advanced technological level. To achieve this goal, it is recommended to introduce new management tools, one of which is the establishment of industrial ecosystems.
The purpose of the article is to prove that industrial ecosystems have a positive effect on the sustainable development of the Russian economy, especially during economic crises.
The subject of the study includes industrial ecosystems as a crucial tool for managing economic crises. It also explores the historical context of industrial collaboration and the formation of clusters during economic downturns. This paper explores two industries that have been significantly affected by recent economic crises: pharmaceutical and automobile manufacturing. It is shown that during times of crisis, some industries develop characteristics similar to ecosystems. The authors propose a method for analysing and evaluating the performance of industrial ecosystems.
The theoretical and practical significance of the study of this study lies in identifying the key factors that contribute to the development of effective industrial ecosystems. Furthermore, it aims to develop a trustworthy tool for evaluating their influence on socio-economic processes. The establishment of industrial symbioses is seen not only as a way to overcome economic crises but also as the foundation for the strategic long-term development of the Russian economy.
The article examines the reasons for the emergence and theoretical content of a new political-economic concept “productivism”, which claims to be doctrinal, replacing the neoliberalism and the “Washington Consensus”. The article explains how productivism differs from previous economic theories. It also highlights some internal contradictions within productivism and explains why some people criticize it. Despite the fact that some authors consider productivism as a “New Supply-Side Economics”, we propose to treat this concept not in the context of economic theories, as it does not have the relevant paradigmatic characteristics, but within the family of political-economic doctrines aimed at the direct justification of economic policy. In this case, productivism joins the American collection of “national developmentalism” doctrines, which has a long history and acute demand in the present period.
EXPERT REPORT
In this study we continue the research on the main indicators of Russia’s technological security assessment. In previous study we identified and outlined the main vulnerabilities in the information base for assessing technological development. In this article we will consider the ways to address the problems identified earlier in order to improve the information base and minimise threats to technological security. The methodological basis of the study comprises the normative documents defining the technological development of the Russian Federation, as well as the information base of its indicators. The authors analysed the main strategic documents to determine whether there is a methodological basis for calculating the indicators contained in them, the relevance of their target values and the consistency of planned values with the nature of their dynamics at the present time — to identify the possibility of achieving them. The authors assess the relationship between the level of depreciation of fixed assets in the regions of Russia and the degree of reconstruction and modernization of fixed assets. The article suggests directions of improvement of the information base of indicators, necessary for their improvement and updating.
WORLD ECONOMY
The objective of this study is to explore the fundamental features of the emerging international financial framework in Russia, to pinpoint potential risks and central issues in its development. The distinctive characteristics of Russian companies’ international trade activities are explored through a comparative and economic-statistical analysis. The identification of risks was done by creating checklists using logical and analytical methods to organize information about the research topic. The risk analysis was based on the Ishikawa method (“fish bone”). The framework of Russia’s international financial interactions from 1991 to 2014 was centred on the goal of swiftly integrating the country into the global monetary and financial framework, fully embracing the standards set by the global power, while also acknowledging the increasing reliance on the collective West, which could potentially compromise national interests. The New Paradigm envisions a balanced integration of diverse subsystems and individual components — nations and groups of nations — within a cohesive geographical context. This framework envisions the enhancement of mutually beneficial international collaboration with allied nations and the development of novel settlement and payment systems, which are based on the utilization of national currencies and/or cutting-edge digital instruments.
FINANCIAL ANALYTICS
This research paper investigates the determinants of inflation in Pakistan from 1991 to 2022, focusing on key macroeconomic variables such as imports, GDP growth rate, GDP per capita, military expenditure, population growth, total debt service, and unemployment. The main objective is to analyse the impact of these variables on inflation and provide policymakers with actionable insights. Utilizing annual time series data from reliable source World Bank WDI, the study employs descriptive statistics, correlation analysis, ADF unit root tests, regression analysis, and the Autoregressive Distributed Lag (ARDL) model. The findings reveal significant interdependencies among the examined variables. The correlation analysis shows strong positive relationships between inflation and imports and military expenditure, while GDP per capita and population growth negatively correlate with inflation. OLS results confirm that imports, GDP growth, and total debt service significantly raise inflation, whereas GDP per capita, military expenditure, and population reduce inflation. The ARDL model reveals that, in the long run, imports, GDP growth, and debt service positively affect inflation, while GDP per capita, population growth, and unemployment exert downward pressure. Short-run dynamics indicate that inflation quickly adjusts to economic shocks, with imports and GDP growth having an immediate impact. These findings highlight the importance of managing imports and debt, while promoting economic growth to maintain price stability. The policy implications emphasize the need for targeted monetary policies to manage imports and optimize debt service strategies, as well as policies aimed at enhancing economic growth and increasing per capita income. Effective debt management and strategic military spending are also vital for maintaining price stability. Despite its comprehensive analysis, the study identifies gaps such as the need for further exploration of structural breaks and non-linear effects in inflation dynamics, and the impact of external factors like global oil prices. The significance of this research lies in its contribution to understanding the complex economic interactions influencing inflation in Pakistan, providing a crucial resource for policymakers to develop effective strategies for economic stability in developing economies.
The relevance of the article is rooted in the critical role of the non-resource sector in the Russian economy, particularly in the face of increasing sanctions.
The purpose of the article is to propose a comprehensive framework for financial assistance to non-resource exports, fostering the sustained growth of the Russian economy in the current context.
Methods: the research methodology is based on general and special methods of cognition; analysis of reports of international organizations, official databases of statistical data, normative documents, monographs and scientific publications.
Scientific novelty: Drawing on the analysis of successful international approaches, we have developed a holistic framework for financial assistance to non-traditional exports in Russia. This framework is designed to complement the national project “International Cooperation and Export”, which is focused on implementing the Strategy for the Development of Foreign Economic Activity of the Russian Federation until 2030.
Research results: The article explores the global experience of comprehensive export support systems and suggests financial measures to help Russian manufacturers of industrial products.
Practical significance of the article lies in the fact that the financial instruments developed for non-primary non-energy exports can be used in the implementation of the Federal National Project “International Cooperation and Export”.
REAL SECTOR
The changing of a geopolitical situation and a reorientation of Russian exports to the East were starting an adjustment the climate agenda took place in Russia, which determined the relevance of the research topic. The shift in the primary drivers of the agenda, coupled with the potential for adverse effects on the Russian real economy due to the implementation of cross-border carbon regulations within the European Union, has extended the duration of the transformational process. However, the commitment to transitioning towards a more environmentally friendly approach remains unchanged. In light of the observed change in business focus, the advancement of the climate agenda requires significant efforts from the government. Carbon neutrality and high environmental standards is economically feasible in the medium and long term. At the same time, Russia’s new key partners in the East are actively interacting with the West, which encourages them to act in line with Carbon Border Adjustment Mechanism. Therefore, these standards will eventually extend to Russian companies. The “green” transformation in domestic industries will mitigate the potential dangers of stricter carbon regulations in the East, while also providing additional competitive advantages for the Russian economy.
This study examines the efficiency of preferential procurement regimes for small-sized businesses (SBs) in Russia, using the example of assessing the results of increased procurement standards. The results of statistical and econometric analysis show a rather moderate increase in SB participation in procurement after increasing the standard. At the same time, the overall volume of purchases from SBs remains significantly lower than the standard. It also turns out that savings on purchases from SBs are greater than on other purchases, and this effect persists after increasing the standard, benefiting the state. In this context, it is necessary to strengthen control over the implementation of procurement standards for SBs and to expand the use of best practices in procurement procedures.
The relevance of this study lies in the necessity to discover methods for fostering entrepreneurial growth in regional contexts, operating within a particular framework. One example of such a business organization is the complex of creative industries, in which the relationship between companies that form a creative product and promote its dissemination is based on sustainable networking. The purpose of the article is to study the dependence of the development of nodes and the tightness of communication of the creative network, as well as factors stimulating the development of creative industries in regional localisation. The research methodology is based on the principles of the theory of regional ecosystems. Methods of the study are statistical data processing, comparative and correlation analysis. As a recommendation, it is noted that the use of an ecosystem approach in developing a mechanism for the development of a creative network requires additional justification for the list of results of the development of a creative network in regional localization with a detailed description of the effects received by the population of the region, government bodies, municipalities and other stakeholders.
ISSN 2220-7872 (Online)