Artem L. Korinevskiy
junior researcher, Southern Federal University, Rostov-on-Don, This email address is being protected from spambots. You need JavaScript enabled to view it.

Journal of Economic Regulation, 2019, Vol. 10 (no. 1),

p. 25-38
DOI: 10.17835/2078-5429.2019.10.1.025-038

The main problem of this research is study of the price fluctuations at stock exchanges. The chosen theme is quite relevant for our time. More and more our society meets phenomenon of “stock bubbles”, which often cause deplorable condition of different countries’ economy. Therefore understanding true reasons and factors of the such fluctuations is very important, as the effectiveness of the activity either at micro- or macrolevel depends on it. In this paper separate firm will not be considered. In terms of works of Robert Shiller it is made an analysis of the aggregate stock exchange there, in particular Moscow Stock Exchange, represented by MOEX Index and its modification, which reflect the activity of the Russian companies. The major target of current research is to identify exist or absence of connecting between the variation of the aggregate profit of all the Russian companies and the return of the index portfolio of Russia, represented by MOEX index of total return with application of R. Shiller’s approach. Mainly for reaching this target it was used econometric techniques, particularly there were tools of processing time series (their decomposition: deriving trend, cycle and residual components). Then it was realized correlation and regression analysis. As a result, it was received the regression model. With help of it we made some conclusions with fundamental and practical meaning. It was shown, that the current profit is a significant factor and catalysator of the future fluctuations of the Russian stock exchange’s returns.

Irina L. Kavitskaya
Candidate of Economic Sciences (PhD), Associate Professor of the Department theoretical economics, National Research University Higher School of Economics, Moscow, Russia, This email address is being protected from spambots. You need JavaScript enabled to view it.

Journal of Economic Regulation, 2019, Vol. 10 (no. 1),

p. 39-49
DOI: 10.17835/2078-5429.2019.10.1.039-049

The paper focuses on finding distinctive features of the transmission mechanism of unconventional monetary policy measures: quantitative easing and credit easing. The analysis carried out in the paper suggests that the transmission of traditional and unconventional monetary policy measures is fundamentally different only at the initial stage of the transfer mechanism: the impact of monetary shock on the financial market. At the middle stage (the impact of the financial market parameters on the behavior of macroeconomic agents), as well as at the final stage (the impact of macroeconomic agents' behavior on the real sector), the transmission mechanism of unconventional measures (quantitative easing and credit easing) is similar to traditional measures. Distinctive features of the impact of unconventional policy measures on the financial market are their directional, targeted, character, as well as the novelty of the impact of mode: in quantitative easing, the transfer of monetary shock goes through a change in reserves; private assets.

Olga S. Belokrylova
Doctor of Economics (DSc), Professor of the Department of Economics, Southern Federal University, Russia, Rostov-on-Don, This email address is being protected from spambots. You need JavaScript enabled to view it.

Ekaterina V. Goncharova
Cand. sci. (econ.), Director of the Foundation for Support of Anti-Crisis Programs, Rostov-on-Don, This email address is being protected from spambots. You need JavaScript enabled to view it.

Journal of Economic Regulation, 2019, Vol. 10 (no. 1),

p. 50-63
DOI: 10.17835/2078-5429.2019.10.1.050-063

The process of digitalization of the Russian economy as the basis for the transition to a digital economy is conditioned by the requirements of objective reality and relies, first of all, on the introduction of digital technologies in the activities of its actors. The development of digital technologies allows them to have stable and undeniable competitive advantages by increasing the effectiveness of harmonizing their economic interests, by reducing transaction costs, solving the "free rider problem" and refusing an intermediary. The most promising technology is Blockchain, which has the ability to most effectively harmonize the economic interests of actors in the digital economy and is applicable in various areas of the economy. To date, Blochein technology is the most in demand and widespread in the financial sector, which led to the need to determine the legal status of both the actors involved in transactions and the relations that arise in conditions of complete anonymity. Identification and analysis of the regularities of the functioning and consequences of the use of Blockchain technology in the financial sector will allow to determine the algorithm of phased application in other sectors of the economy with the aim of developing an effective mechanism for coordinating the economic interests of the actors in the digital economy of Russia. As the most promising mechanism of interaction between actors of the digital system, it is proposed to identify decentralized technological tools that cause a significant reduction in transaction costs in the interaction of actors in the system and solve the basic institutional problems of operation. Thus, it is the Blockchain technology, being an effective tool for coordinating the economic interests of the actors of the digital economy of Russia, basically contains conceptual solutions to the tasks of digitalization of the economy of the country and society as a whole.

Artyom I. Maskaev
Junior researcher, Southern Federal University, Rostov-on-Don, Russia, This email address is being protected from spambots. You need JavaScript enabled to view it.

Andrey V. Tupaev
Senior Lecturer, Southern Federal University, Rostov-on-Don, Russia, This email address is being protected from spambots. You need JavaScript enabled to view it.

Roman Yu. Markin
Student, Southern Federal University, Rostov-on-Don, Russia, This email address is being protected from spambots. You need JavaScript enabled to view it.

Journal of Economic Regulation, 2019, Vol. 10 (no. 1),

p. 64-76
DOI: 10.17835/2078-5429.2019.10.1.064-076

The article analyzes the experience of Skolkovo in the scope of the knowledge economy using an interdisciplinary research method. The Skolkovo project was planned as a driver for overcoming the Dutch disease. The Skolkovo experience combines positive and negative aspects, but it showed that public-private partnership in the field of science and education should be continued. Russian business and state corporations do not finance R & D, and as a result, the problem of financing is decided primarily by the state. It is necessary to create institutional conditions that unite universities, science cities and business, this will allow scientists to have a correct understanding of the problems facing the industry. Other major problems are the low level of qualification of the Power and Rule in the Russian Society, and also the fragmentation of the scientific community, which is not able to protect its interests. It is necessary to increase the requirements for the level of education and the quality of management training, as well as create conditions for improving their skills in Russia. The positive trends in the emergence of young governor-technocrats should be continued. It is also necessary to reform the institutes of patent law and certification for legal support of innovations created in Russia.

Anton I. Pyzhev
Candidate of Economic Sciences (PhD), Head of the Laboratory for Environmental and Resource Economics, Associate Professor of the Department for Social and Economic Planning, Siberian Federal University, This email address is being protected from spambots. You need JavaScript enabled to view it.

Journal of Economic Regulation, 2019, Vol. 10 (no. 1),

p. 77-89
DOI: 10.17835/2078-5429.2019.10.1.077-089

The forest complex of Russia is not among the advanced sectors of the country's economy, despite the great potential predetermined by the vast territory covered by Russian forests. The article discusses the two most important documents of the current agenda for the development of the forest complex of Russia: The Strategy for the Development of the Forest Complex of the Russian Federation until 2030 and the May Decree of the President of the Russian Federation of 2018. It is concluded that achieving the goals of advanced development of the country's economy laid down in the May Decree only substantial financial costs, but also new approaches to solving old industry problems. Nevertheless, the federal project “Forest conservation” of the national project “Ecology” is mainly focused on overcoming the lag in the infrastructure provision of forest protection and reforestation measures. However, other, primarily institutional, problems remain beyond the framework of state forest policy. It is shown that for the successful implementation of the policy of reforming the Russian forest complex aimed at achieving the goals of sustainable forest management, it will be necessary to continue the work on improving the content of the activities laid down in the federal project. The corresponding proposals for achieving the goals of the May 2018 Decree regarding the conservation of forests are formulated.

Susanna A. Bugajan
graduate student, Rostov state economic university (RINH), This email address is being protected from spambots. You need JavaScript enabled to view it.

Journal of Economic Regulation, 2019, Vol. 10 (no. 1),

p. 90-99
DOI: 10.17835/2078-5429.2019.10.1.090-099

In the 21st century the special relevance among all global tasks is acquired by problems of increase in rates of social growth and satisfaction of needs of the population which involve increase in the global problems of society having ekologo-economic focus. Increase in volumes of household garbage which growth rates are so high that scientists call this problem of one of key global environmental problems becomes one of such problems. In this regard the solution of issues of competent utilization and processing of municipal solid waste that assumes use of innovative technologies of processing and introduction of new mechanisms of collecting and sorting of waste becomes the most important purpose of each country today. The analysis of scientific publications on this subject shows that the practical experience of processing of household garbage in the European countries has excellent results and can be introduced almost everywhere. The greatest success in the organization of processing of municipal solid waste is achieved in those countries where the state and municipalities is engaged in management of this sphere. Because in Russia the problem on utilization of municipal solid waste is not solved, studying of positive experience of other countries in this direction and the analysis of opportunities of adaptation of this experience under the Russian conditions is represented interesting. Also in article the analysis of the current situation on utilization and processing of household waste is carried out and some measures for improvement of mechanisms of the organization of this work are proposed.

Victor N. Ovchinnikov
Doctor of Economics (DSc), Professor, Southern Federal University, Rostov-on-Don, This email address is being protected from spambots. You need JavaScript enabled to view it.

Alexandr G. Druzhinin
Professor, Southern Federal University, Rostov-on-Don, This email address is being protected from spambots. You need JavaScript enabled to view it.

Abubakir Kh. Tambiev
Professor, Southern Federal University, Rostov-on-Don, This email address is being protected from spambots. You need JavaScript enabled to view it.

Journal of Economic Regulation, 2019, Vol. 10 (no. 1),

p. 100-106
DOI: 10.17835/2078-5429.2019.10.1.100-106

In the article, based on the comparison of the subject content of the categories “reputation”, “prestige”, “image”, the scope of the concept “brand” is clarified, It also discusses the use of the marketing tool in the processes of forming and implementing the functions of a territorial brand for the market positioning of the region in the economic space of the country and the world. Unlike the image as a kind of mental image in the minds of people, formed under the influence of often artificially created information flows, reputation is based on verified practice, on life experience, supported by reliable information about the favorable qualities of a territorial-settlement formation. The brand of the territory is its collective image, formed on the basis of real advantages positioned in the image field, clearly distinguishing it from other territories. Brand values are: reflection of the unique competitive advantages of this territory and embodiment of their real benefits for internal and external consumers. Local management of the formation of a territorial brand involves the use of apparatus tools, including strategic, symbolic, advertising and PR tools. The system-complementary use of such instrumental and methodical apparatus will make it possible to realize a target goal: formation of a territorial brand.

Sergey G. Tyaglov
doctor of Economic Sciences, Professor of department Economies of the region, branches and enterprises Rostov State University of Economics (RSUE), Rostov-on-Don, This email address is being protected from spambots. You need JavaScript enabled to view it.

Irina V. Takmasheva
сandidate of Economic Sciences, leading researcher Institute of digital economy, Ugra State University, Khanty-Mansiysk, This email address is being protected from spambots. You need JavaScript enabled to view it.

Journal of Economic Regulation, 2019, Vol. 10 (no. 1),

p. 107-119
DOI: 10.17835/2078-5429.2019.10.1.107-119

This article focuses on the study of advanced practices in the implementation of lean manufacturing tools. The authors of the article studied the system of state standards for lean manufacturing in Russia and analyzed the experience of Russian regions in implementing the principles of lean manufacturing. In domestic practice, such lean manufacturing tools are used as: visual management, standardized operations and instructions, “KanBan”, pulling production, equipment maintenance, etc. The study found that lean production tools and methods are currently in demand not only enterprises, but also in state and regional authorities. The undoubted leaders today among the regions of Russia for the implementation of the “Thrifty Region” concept are: the Khanty-Mansiysk Autonomous Okrug – Ugra, Kemerovo regiont, Belgorod region. Today, domestic leaders have come to understand the fact that social and economic growth is largely ensured by the level of labor productivity, workplace organization, and the development of human capital. The application of methods and principles of lean production in the management of regions or enterprises can provide an increase in the competitiveness of the regional economy. In this regard, consideration of the concept of lean manufacturing as the basis of the region’s innovative development is highly relevant. The results of the study can be used by state and regional authorities as directions for improving the activities of state and regional structures, as well as heads of enterprises as a guideline on the organization of production activities.

Alexander G. Oganyan
candidate of economic sciences, associate professor, Southern Federal University, Rostov-on-Don, Russia, This email address is being protected from spambots. You need JavaScript enabled to view it.

Natalia S. Brown
candidate of economic sciences, associate professor, Don State Technical University, Rostov-on-Don, Russia, This email address is being protected from spambots. You need JavaScript enabled to view it.

Journal of Economic Regulation, 2019, Vol. 10 (no. 1),

p. 120-135
DOI: 10.17835/2078-5429.2019.10.1.120-135

The article is devoted to the conceptual and methodological foundations of the research of the role of the higher school in the intensification of the reproduction of the intellectual potential of the transformation of the national economy. The aim of the work is to study the process of identifying trends in the evolution of higher education as an institution for the reproduction of intellectual potential, in the context of the formation of conditions for the transition to an innovative and intellectual stage of transformational transformation of the Russian economy. In addition, the article gives an assessment of the role of subjects of the institutional structure of higher education and the allocation on this basis of specific innovative functions of modern higher education institutions. The approaches to the study of the specifics of the institutional dynamics of higher education have allowed us to justify its determining role as a driver of the innovative transformation of the national economic system, which is achieved in the process of ensuring the intensification of the reproduction of intellectual potential. At the same time, the current system of higher education generates fundamental changes that cause new forms of intensification of the reproduction of intellectual potential, claimed by the knowledge economy. From this perspective, the article provides formalized substantiation of the fundamental provisions that allow us to overcome the existing uncertainty of the role of reproduction of intellectual potential in ensuring the innovative transformation of the Russian economy. It seems that these conceptual constructs can be in demand in the process of developing strategic provisions of the national economic policy.

Mikhail G. Pokidchenko
professor, Moscow State University, This email address is being protected from spambots. You need JavaScript enabled to view it.

Journal of Economic Regulation, 2019, Vol. 10 (no. 1),

p. 136-140
DOI: 10.17835/2078-5429.2019.10.1.136-140

The collective monograph, which will be discussed, is written on the basis of scientific conference held in December 2017 at the Financial University under the Government of the Russian Federation. The preparation of the monetary reform of 1947 took place with the active participation of teachers, staff and graduates of the Moscow Financial Institute, as Financial University was called at that time. This work was the fifth of a series of monographs "Great Economists and Great Reforms", prepared by the Financial University. At the same time, the authors of these monographs include not only scientists from the Financial University (in particular, R. M. Nureyev, Yu. A. Kropin, L. A. Chaldayeva, and others), but also representatives of other leading universities and scientific organizations of our country (for example, V. V. Drozdov from Moscow State University named after MV Lomonosov, Yu. V. Lat from the Institute of Sociology of the Russian Academy of Sciences, etc.).

Vasily V. Sorokozherdiev
associate professor, Financial University under the Government of the Russian Federa tion,

Zarama M. Hasheva
professor, South Institute of Management,

Gennady G. Pimenov
associate professor, Financial University under the Government of the Russian Federa tion,

Journal of Economic Regulation, 2019, Vol. 10 (no. 1),

p. 141-144
DOI: 10.17835/2078-5429.2019.10.1.141-144

The article presents the main theses of the speakers who spoke at the plenary session of the 8th International Scientific and Practical Conference, held January 30 - February 3, 2019 in Sochi.