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Theoretical and Applied Economics
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MAIN PAGE > Journal "Theoretical and Applied Economics" > Contents of Issue № 04/2023
Contents of Issue № 04/2023
Regional economy
Suvorova A. - Urban agglomerations: functioning and methodological principles of development pp. 1-17

DOI:
10.25136/2409-8647.2023.4.68863

EDN: AAUUUK

Abstract: Currently, the development of urban agglomerations is recognized as one of the key prerequisites for accelerating the economic growth of large-scale economic systems. The study is devoted to the conceptual foundations of this process. The author considers the logic of the organization and development of agglomerations; identifies the features of the functioning of agglomerations in modern conditions; studies the principles that should underlie their development. The work is based on the use of data from the Federal State Statistics Service, and its methodological base includes general scientific methods of theoretical and empirical cognition. It is shown that a significant aspect of the functioning of the agglomeration is the close relationship between its elements. The importance of this aspect is also proved by the results of the analysis of the functioning of the Yekaterinburg urban agglomeration, which is characterized by the redistribution of functionality between its constituent municipalities. The suburbs increase their importance as a place to live in and work, while the central parts of the agglomeration retain the role of a service center. As a result of the study methodological principles of agglomerations development are formulated: a differentiated approach to determining landmarks, mechanisms and institutions of transformation processes, institutionalization of the object, the systemic nature of space transformation, the absence of barriers of interaction between elements, the availability of a resource basis for development. The results obtained can be used in the activities of public authorities that determine and implement regional policy.
Finance, monetary relations and investment
Kovalev V.A. - The development of green finance in the EAEU countries based on the assessment of the liquidity of green bonds pp. 18-34

DOI:
10.25136/2409-8647.2023.4.69426

EDN: BALLYM

Abstract: The subject of the study is the liquidity of green bonds in the countries of the Eurasian Economic Union as an important investment characteristic of a financial instrument for non-institutional investors and the development of green finance in the EAEU countries. The author analyzes the liquidity of green bonds traded on the Moscow Stock Exchange in the context of groups of liquidity indicators: urgency (time), volume and transaction costs proposed by domestic and foreign authors and whose application has been experimentally tested in the scientific literature. The factors influencing the liquidity of green bonds, the interrelation of liquidity indicators are considered, the main tools for stimulating supply and demand for green bonds in the EAEU countries and their applicability in the Russian Federation are highlighted. The paper provides grouping and rating of green bonds by liquidity levels. To calculate the liquidity levels, data is collected using the methods of the Moscow Exchange Information and Statistical Server on the specification of financial instruments, the history of transactions on it for the date interval and for the last trading day. The main conclusions of the study are as follows: the Russian green bond market has a cluster of illiquid bonds, the feature of which is the placement of bonds on the market until 2020. Stimulating demand for green bonds is possible by expanding the practice of sub-federal green loans, including through development institutions, together with an active policy of informing about the issue of green bonds. The imbalance in the volume of transactions and their frequency can be offset, among other things, by increasing the participation of non-institutional investors in debt green financing. Potentially successful is the placement of federal green bond loans in the Russian Federation based on the experience of issuing green government bonds in the Republic of Belarus and the exemption of individuals from taxation on personal income from the sale and repayment of green bonds in order to increase demand for green bonds. Increasing the liquidity of green bonds and the growth of their market volume through the implementation of the proposed measures will allow for positive effects on the socio-economic development of the EAEU countries: on the environmental situation, the sector of collective investments and the welfare of citizens.
Communication management
Xin X., Hu Z. - The logistics channel in the Russian Far East as a key factor in the development of Chinese-Russian trade. pp. 35-58

DOI:
10.25136/2409-8647.2023.4.54679

EDN: OHBJZL

Abstract: This article explores the significance of the logistics channel in the Russian Far East as a key factor in the development of Sino-Russian trade. The authors analyze the role of this logistics corridor in the context of China-Russia trade relations and identify its impact on the long-term cooperation between the two countries. The study is based on an analysis of statistical data on trade between China and Russia in recent years. The authors also conduct an analysis of Russia's geographical features and its logistics capabilities. Comparative analysis methods are used in the article to assess the influence of the logistics channel on the volume and stability of Sino-Russian trade. The article emphasizes that the logistics channel in the Russian Far East plays a pivotal role in the development of China-Russia trade. It highlights the growth in trade volumes between the two countries and their ambitions to achieve higher levels. However, the author also notes that Russia's current geographical features do not always align with the needs of international trade, and pipeline transport cannot fully replace other logistics channels for bulk commodities. The scientific novelty of this article lies in its recognition of the importance of the logistics aspect in China-Russia trade relations and its call for greater attention to this factor. It also underscores the strategic significance of developing the logistics channel in the Russian Far East for the sustainable and stable growth of Sino-Russian trade in the long term.
Economic theory and history of economic thought
Shirinkina E.V., Volkorez A.A. - Classification of risks in the risk management system of innovative development of Russian regions pp. 59-72

DOI:
10.25136/2409-8647.2023.4.68755

EDN: OHHPCJ

Abstract: The relevance of this study is due to the fact that risk management is a task assigned to each region of the Russian Federation, which is of particular importance in modern conditions. On the one hand, this is due to the requirements of the global market, where innovation is a recognized tool for improving competitiveness, solving socio-economic problems of society. On the other hand, this is necessary due to the increasing distortions of key indicators of regional innovative development of the country, which requires taking measures to preserve the sustainable development of highly innovative territories and the intensification of laggards, taking into account the sectoral and other specifics of their functioning. The subject of the study is the mechanism of risk management based on the identification and classification of risks and opportunities of the eastern regions of Russia in ensuring effective innovative development. The novelty of the research lies in the fact that the authors present the key directions for improving the risk management mechanism of the innovation space of the regions of Russia, taking into account the differentiation of the regional economic space in the direction of establishing a high-quality and sustainable system of interaction between objects and subjects of the innovation space based on the identified priorities.  Due to the fact that risk management of innovative development has been the object of research in domestic dissertations for more than 25 years, the question arose: what risks were identified, and recommendations for their solution were offered by the authors during this period ? How much has the set of analyzed risks and challenges changed (and has it changed) ? How has the content of the approaches and methods of risk management proposed for the activation of innovative development changed ? To answer these questions, more than 60 doctoral dissertations, defended over the past 25 years, devoted to risk management of innovative processes in the regions, were analyzed.
Bekryashev A. - Adam Smith on uncertainty and security. Part 1. pp. 73-86

DOI:
10.25136/2409-8647.2023.4.69369

EDN: OMFUAT

Abstract: The subject of the article is the study of Adam Smith's conceptual ideas about uncertainty and security and their relationship. Methods of conceptual analysis are used in two versions. The presentist approach aims to interpret Smith's ideas about uncertainty in terms of modern concepts (fundamental and epistemological uncertainty and their forms). The antiquarian approach aims to explain the features of Smith's concepts in the context of the theological, philosophical ideas and methodological ideas he shared. The analysis is used in presentist and antiquarian variants. The first part of the article shows that Smith uses several concepts of uncertainty. One of them corresponds to the modern idea of epistemic uncertainty. Smith also develops an original concept of ambiguity, which, in the author's opinion, can be most constructively understood from the standpoint of a generalized version of Niels Bohr's principle of complementarity. However, in Smith's system this type of uncertainty is of fundamental importance and is associated with the feeling of sympathy. The third part of the article examines the influence of theological ideas on Smith's ideas about uncertainty. The peculiarities of scientists' interpretation of the uncertainty of the future are explored. The second part also examines selected conceptual relationships between uncertainty and security. In Smith's theoretical system, the reduction of uncertainty plays a special role in ensuring the long-term survival of society (ensuring security - in the presentist interpretation). Smith associates it with following the rules of the virtue of justice, which have the greatest certainty and, functioning like the rules of grammar, perform the function of creating order.
Production branches and markets economics
Bryantseva O.S. - Industrial development in Russia: the study of sectoral structure pp. 87-104

DOI:
10.25136/2409-8647.2023.4.69017

EDN: NUADBU

Abstract: The article deals with the issues of studying the sectoral structure of the economy of the Russian Federation and the transformation of the sectoral structure of industry. A sample of macroeconomic indicators characterizing the structure of industrial production by gross value added, the number of employed personnel, the value of exports for the period 1990-2022 was formed and analyzed. Open statistical data consolidated by the UN International Organization for Industrial Development (UNIDO) and Rosstat were used. Calculations of structural shifts in the manufacturing industry of the Russian Federation have been carried out. The article shows that the sectoral structure of the Russian economy has undergone tremendous structural transformations. During the period under review, the sectoral structure of industry in terms of gross value added was significantly transformed: the share of oil refining, chemical industry, metallurgy is increasing, while the share of machine-building and instrument-making is decreasing. In the sectoral structure of employment, the share of high-tech industries such as machine building and electronics and agriculture is decreasing, while the share of employment in trade and construction, transportation and communication is increasing. In the sectoral structure of exports, the share of manufacturing industries is decreasing and the share of extractive industries is increasing. It is concluded that for a long time the sectoral structure of the Russian economy has been under the influence of deindustrialization.
Regional economy
Elshin L.A., Mingazova Y.G., Savushkin M.V., Mingulov A.M. - Selective approaches to the definition of mechanisms for the implementation of import substitution policy at the regional level pp. 105-123

DOI:
10.25136/2409-8647.2023.4.68748

EDN: OKSBAD

Abstract: The subject of the study is the economic relations of the regions of the Russian Federation within the framework of foreign trade relations with non-CIS countries. The regions of the Volga Federal District of Russia are the object of research. The authors consider in detail such aspects of the topic as structural parameters of supplies of goods from abroad to the regions of the Volga Federal District; justification of their critical level in the context of the studied commodity groups and country differentiation; development of proposals aimed at the formation of selective and adaptive measures for the implementation of the import substitution policy to regional peculiarities. Particular attention is paid to the issues of substantiating the doctrine of the need for a selective regional strategy for the implementation of import substitution policy under sanctions pressure, which provides for the need to abandon frontal measures of state support in the sphere of emerging perturbations of external inter-cooperative relations. The main conclusion of the study is the need to implement a selective strategy for adapting the national economy to the localization of imports of goods and services based on the identification of regional features of import dependence in the context of key commodity groups. A special contribution of the authors to the study of the topic is the identification of possible threats to the sustainable development of regional economic systems in the context of sanctions, taking into account the structural analysis of import supplies from unfriendly countries. Based on the review, systematization and analysis of data from the Federal Customs Service, the key parameters of critical imports for the regions of the Volga Federal District are identified and the concept of implementing an adaptive import substitution policy is proposed.
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