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World of Economics and Management

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Vol 24, No 3 (2024)
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MACROECONOMIC ANALYSIS: METHODS AND RESULTS

5-18 114
Abstract

One of the most discussed issues among economists around the world is the question of optimal monetary policy, which, according to modern macroeconomic concepts, is not the only factor influencing the volume of money supply in a country. The controversial nature of the issue of the money supply’s endogeneity has led to many empirical studies based on data from different countries and time periods. The most common approach is to test the hypothesis about the money supply’s endogeneity by constructing vector autoregression models and error correction. The results of applied estimates primarily confirm the hypothesis about the endogeneity of money supply not only in developed countries, but also in developing ones. There are examples of studies where the endogeneity of money is not refuted in a country with a fixed exchange rate, in a country with a multi-currency regime, and also in a country with hyperinflation. Thus, confirmation of this theory is becoming increasingly widespread. However, the results of studies within different time periods for Russia are contradictory.

This article conducted pairwise testing of the relationships between monetary aggregates and indicators of lending volumes, both on nominal data and on real seasonally adjusted data. The analysis was carried out over two time intervals: January 2010 – September 2020 and October 2020 – January 2024, during which similar results were obtained. In addition, using the same samples, a comprehensive analysis of the relationships between key macroeconomic indicators was carried out, which led to important conclusions. These models do not refute the dependence of the money supply on the volume of bank lending. In addition, our new result is a statistically significant positive short-term impact of the interest rate on inflation, which confirms the point of view of S.Yu. Glazyev – an increase in interest rates leads to increased costs for borrowers, which leads to increasing production costs and prices. Thus, throughout the entire period under study, the influence of endogenous factors on fluctuations in monetary aggregates in Russia is not refuted

MICROECONOMIC ANALYSIS: METHODS AND RESULTS

19-40 148
Abstract

The topic of investing in securities of Russian energy companies in an unfavorable geopolitical environment is relevant, as it carries new information about forecasting dividends of Gazprom PJSC in the context of the loss of a large part of the sales markets and changes in the geography of exports of this company. The purpose of the scientific research is to identify the relationship between the economic indicators of PJSC Gazprom and, on its basis, to build economic and mathematical models with a function for forecasting these indicators. To achieve the goal of the study, the following tasks were solved: the theoretical foundations of the functioning of PJSC Gazprom in modern conditions were considered; a research methodology based on economic and mathematical modeling was selected; economic and mathematical models were built to forecast capital investments and dividends of PJSC Gazprom; future values of capital investments and dividends of PJSC Gazprom for the long term were calculated. The subject of study is the activities of PJSC Gazprom aimed at implementing strategically important projects in connection with the search for new markets for Russian natural gas. The research methodology involves the consistent use of the following scientific methods: analysis of time series of indicators; augmented Dickey-Fuller test; KPSS test; correlation analysis; centered moving average method; economic and mathematical modeling; assessment of economic and mathematical models. As a result of the work, scientific novelty was established: a polynomial economic and mathematical model was constructed, reflecting the long-term trend of growth in capital investments of PJSC Gazprom; an economic and mathematical model of distributed lags was calculated to forecast dividends of PJSC Gazprom depending on the capital investments of this company. Scientific research may be useful to investors purchasing securities for the long term. It helps to predict the situation on the Russian stock market in the context of the economic crisis: an increase in the size of dividends of PJSC Gazprom over the long term will most likely stimulate investment demand for shares of this company. This work contributes to the domestic scientific literature, covering the issues of forecasting the economic performance of Russian energy companies in modern unfavorable economic and political conditions.

41-51 79
Abstract

In the context of global competition and accelerating technological revolution, innovation activity is becoming a key factor of economic growth and competitiveness of states. Higher education plays an important role in this process, acting, among other things, as a centre of knowledge generation and development of new technologies. One of the effective tools contributing to the development of innovation activity of higher education institutions (HEIs) is patent cooperation, including joint efforts to create, protect and commercialise intellectual property. The article analyses the state of patenting of developments by Russian higher education institutions (HEI), commercialisation of their developments, as well as cooperation with scientific and commercial organisations. The aim of the article is to study the impact of patent co-operation of Russian HEIs on innovation activity in the country. The source of statistical data is information from Rospatent and the Expert analytical centre.

 It is shown that nowadays the main thing is not the number of patents, but the way they are commercialised. In this regard, projects to open technology transfer centres and cooperation between universities and other organisations, which contribute to the emergence of new developments and import substitution of advanced technologies, are becoming more relevant than ever, which is confirmed by the analysis of the above statistical data.

MATHEMATICAL METHODS OF ANALYSIS IN ECONOMICS

52-70 117
Abstract

Based on the experience of using an optimization input-output inter- regional model with a detailed energy sector (OMMM-TEK), the problem of cyclical information updating in the models of this type is considered. It is proposed to solve it from the point of view of forming a non contradictory information environment of the model complex, which consists of two forecast models and a base year model. The latter model defines a system of cost indicators linked to the prices of the base year, in which the decisions of forecast models are measured. The conducted comparative analysis of the industry nomenclature of the model and the “inputs − output” tables allows us to see the sources of contradictions of the information environment and to quantitatively assess their extent. In the absence of regional «input-input» tables as the main information source, when there are only «input-output» tables of the Russian Federation, the process of «regionalization» of the tables is proposed to be carried out in the model of a base year, using the structural elements of the OMMM-TEK model complex. To do this, an iterative convergent process of optimal solutions to the base model is organized using a number of quantitative criteria. Thus, in parallel with the «regionalization» of the input-output tables, the problem of forming a non contradictory information environment for transferring balanced parameters and variables of the base model to the forecast model is solved

REGIONAL AND INTERNATIONAL ECONOMICS

71-95 180
Abstract

The central business district (CBD) of a city, while a theoretical construct, nevertheless plays an important role in the development of each individual city. By its significance one can indirectly judge the uniformity of development of the city territory. The main idea of the work was to identify factors influencing the significance of the CBD. An empirical test of the price-area relationship (a consequence of Alonso’s model) was carried out using data from 25 Russian cities. The information base was the websites of Avito, Rosstat, Official websites of the cities selected for analysis, Yandex Maps, 2GIS. The analysis methodology required dividing the territory of cities into ring zones according to transport accessibility of the center and collecting data on housing prices by zone. It was found that the “price-area” relationship is not satisfied for Yalta, Petropavlovsk-Kamchatsky and Yuzhno-Sakhalinsk. Next, 13 factors are identified that, according to the authors, influence the development of intracity space. It is shown that the presence of a sea, a state border and a transport hub increase the importance of the CBD. At the same time, the presence of the federal city effect and the situation when the city is not the capital of the region reduce the significance of the CBD. The next stage was the analysis of the functions of cities: in order to smooth out the uneven development of urban areas (with the high role of the central district), it is necessary to identify relatively deficient functions and give priority in development to these particular urban infrastructure objects. An analysis of market demand for 16 types of public facilities, as well as a systematization of planned investment projects in the cities under consideration showed that in Norilsk it is necessary to design and create new healthcare and commercial facilities. The results obtained can be used to draw up master plans for urban development.

96-110 102
Abstract

The development of digital technologies and their widespread dissemination in the urban environment, as well as the growth of cities and urban populations, led to the creation of the concept of a smart city. This concept has evolved from technology-centric to human-centric. Now it is focused on improving the quality of life of citizens and solving urban problems. The use of modern technologies makes it possible to increase safety in the city, to improve the situation on the roads, to ensure a quick response to emergency situations, to simplify city management and to conduct it almost online, to make the urban environment more comfortable, and so on. This work systematizes the capabilities of a smart city to reduce the severity of specific urban problems. The conducted research made it possible to propose a scheme for a smart city to solve urban problems with the tools used.

INSTITUTIONAL ANALYSIS

111-130 134
Abstract

Currently, the Russian economy, in response to external challenges and threats, is undergoing major changes associated primarily with diversification, restructuring, digitalization of production systems, and the formulation of strategic goals and development priorities at all levels of government. To adequately respond to these changes, the scientific justification of the institutional system of regional and municipal governance, based on strengthening the role of state strategic planning institutions in the development of regional economies and modern technologies, is of particular importance. The purpose of the study is to substantiate an integral institutional system for managing the strategic development of the region and its municipalities. The main tasks include assessing the current state of research on institutional problems of regional management, analyzing the current regional development management system and identifying problems that the management system is unable to solve or solves ineffectively, assessing the role of the institutional management system in the development and implementation of strategic directions for the socio-economic development of the region, development of recommendations for the formation of an institutional system for managing the development of the region. The article analyzes the institutional structure of managing the spatial development of a constituent entity of the Russian Federation, analyzes the functions, powers, schemes and procedures of the practical activities of regional authorities from the position of ensuring unity and interconnection between the regional and municipal levels of government. Methodological approaches are proposed to substantiate the institutional system of regional management, ensuring comprehensive socio-economic development of the regions. The features of the development, structure and content of the institutional system for managing the socio-economic development of the region are characterized. As a result of the analysis and generalization of the institutional aspects of the activities of state and municipal government bodies, features of the development of the institutional structure of management have been identified, directions for the formation of a new system for managing regional and municipal development, as well as the main elements of the management mechanism in the new conditions of socio-economic development of the Russian Federation have been proposed. It issubstantiated that one of the main directions of reforming the management system is to strengthen the role of state strategic planning institutions in the development of the economy of regions and municipalities. The study is conducted on the basis of the constituent entities of the Federation and municipalities and may be of practical interest for regional and municipal authorities. In addition, this study can serve as the basis for the development of methodological and methodological aspects of regional management in the Russian Federation.

MANAGEMENT

131-139 132
Abstract

The article discusses the marketing tasks related to the development and launch of a digital aggregator platform in the field of travel services. The created platform offers consumers a specific product - locations of interesting natural places, objects and attractions of a certain region with a description of the unique characteristics and features that make them attractive to visit.

It is shown that the specifics of marketing in relation to the company – owner of such a platform are due to the two-way weakly structured links of the platform with suppliers and consumers of services, the mobile involvement of customers, the uniqueness of the accumulated digital traces of platform participants, the processing of which using artificial intelligence technologies allows to personalize the platform's offers to customers.

Since the platform is formed on the basis of a previously created digital search service for interesting places in the Novosibirsk region and relies on the existing customer base of this service, the proposed J.R.R. Tolkien is used to attract users to the platform. Parker's strategy is «follow the rabbit» and subsequently the strategy of attracting customers.

Important specific marketing tasks are the formation of a network community of a digital platform, the analysis of interactions between platform participants based on customer digital footprints and experience of using the platform, as well as the development of self-service processes for customers.   

Based on the analysis of scientific publications on the activities of platform companies and the practical experience of the authors with the digital platform «WHERETOGO», marketing tasks that reflect the specifics of the platform business model are systematized. The importance of the highlighted marketing tasks for all participants is described: customers, suppliers of the platform and the company itself.  This contributes to the theory and practice of marketing in relation to platform companies.

140-155 119
Abstract

This article examines and summarizes the concept of time management (hereinafter referred to as time management) and its effective use in the life of a student to organize the school day. Various time management methods and techniques that students can use to effectively plan their day are explored. General time management tools are also discussed to help students properly distribute their study and free time. The purpose of the work is to identify whether students of the Kaluga branch of the Financial University under the Government of the Russian Federation use any time management methods, and how the use of certain time management methods will help students properly organize their day, eliminate stress and increase productivity. The work reveals the importance of proper time management for a student, which consists of prioritizing time, having free time, focusing, improving health and increasing academic performance. Students often don’t think about the fact that they don’t have enough time for something important or that they might be wasting time. The article helps them get acquainted with the technology of organizing their working and free time, as well as understand the effectiveness of its use. The material presented in this article will help increase the results of your productive and efficient activities, because not everyone knows how to manage their time. And it is this factor that can negatively affect the student’s entire activity. A student’s life is extremely busy and helping him understand the effective management of his time will lead him to maximize his activity and success.

156-170 131
Abstract

The paper presents an analysis and generalization of key trends in business development in the world and in the Russian Federation, as well as their impact on the functions of personnel management (HR) and training and development (T&D). It is shown that constant changes and their abrupt nature have led to the accumulation of contradictions and the formation of a systemic crisis, including in the field of working with people and their training. It is this crisis that leads to a situation of double personnel shortage, when a business cannot find candidates with the necessary competencies in the labor market. The purpose of the work is to formulate new content for the HR function through the study of key trends in business, as well as areas of development of the T&D function, aimed at solving the systemic crisis in HR. The analysis shows that it may consist in a systemic reassembly of the role and function of T&D, and most importantly, its functional reassignment from the HR function to satisfy the requests of the key business function for the implementation of changes, ensuring the goals of the company’s strategy with the necessary human and organizational resources. The T&D function should find a new purpose in ensuring constant business changes in the context of the need to maintain the operational function.



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ISSN 2542-0429 (Print)
ISSN 2658-5375 (Online)