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Digital Economy as an Economic Institute

Digital Economy as an Economic Institute

Journal of Economic Regulation, , Vol. 10 (no. 2),

The article is devoted to the analysis of the main directions of development of digital technologies and the reasons for their distribution and use in business. The article analyzes the properties of network benefits and their impact on consumers and manufacturers. At the beginning of the XXI century, when the advanced part of humanity lives in a post-industrial society, the global digital divide becomes a characteristic feature of the polarization of the world. The social antithesis is acquiring a new facet of dividing the members of the global community into Internet-haves and Internet-poor. The rapid development of the Internet at the beginning of the XXI century radically changed the face of modern civilization. This is especially evident when compared with other changes in developing countries at the turn of the century. To make the Internet affordable, affordable, open and secure was not the strength of all. The World Bank's World Development Report 2016 analyzes the reasons for the slow pace of digital technology and outlines an Internet strategy. It helps to understand how to spread the benefits and reduce the costs of developing digital technology.The article analyzes the structure of the digital economy, shows the main stages of its development. To this end, an original definition of the concept of digital economy is given. A three-level structure is proposed that is necessary for its functioning. For each level, the prerequisites that have formed them are highlighted. This makes it possible to formulate priorities and problems that the economy is facing on the path to digitalization.The conclusion deals with the institutional factors that impede the development of the digital economy in Russia.

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Оn Directions New Industrial Revolution in a Digital Economy: Context-the Substantial Aspect

Оn Directions New Industrial Revolution in a Digital Economy: Context-the Substantial Aspect

Journal of Economic Regulation, , Vol. 10 (no. 2),

In this article the author touches upon the problem of realization of the processes of re-formation of the existing system of economic relations, realized in the conditions of actualization of digitalization of production and economic processes. The peculiarity of the approach to neoindustrialization is the understanding of this process not only from the standpoint of the focus on the use of modern material and technical base, qualitative improvement of conditions and production technologies, but also on the need to understand the specifics of new working conditions, which consist in the need to rebuild public consciousness to create prerequisites for a new human quality in the mechanism of «digitization» of economic relations. This circumstance requires the revision of the implemented instruments of industrial policy not only to take into account the interests of the owners themselves, but also to study the potential of society for the perception of the innovations used. In view of the above, the author considers neoindustrialization in the conditions of the digital economy as a General process affecting the interests of the aggregate of participants in both economic and social activities, and, as a consequence, presupposes the consideration of various aspects that take place in the reform of economic relations under the influence of modern trends of neo-analysis. The article analyzes the content of neoindustrialization processes in the context of the implementation of this process in relation to the conditions of the digital economy. The author proposes to consider the analyzed multidimensional process: not only from the standpoint of the use of technological innovation, but through the characteristics of the changes of society under the influence of neoindustrial. Particular attention is paid to the context-content aspect in the analysis of the processes of neoindustrialization, based on the consistency and subordination of the structural elements of the mechanism under consideration.

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Why Crypto is Not the Currency. The Rise and Fall of Digital

Why Crypto is Not the Currency. The Rise and Fall of Digital

Journal of Economic Regulation, , Vol. 10 (no. 2),

This article is devoted to the prospects of development and the ability of cryptocurrencies to perform the functions of money. The variety of reasons and factors influencing the market of digital assets is considered. The history of cryptography, as well as the features of the now popular blockchain technology, is briefly presented. The first virtual coin – bitcoin, was used as an example and object of research. The first part of the paper reviews the possibility of digital currencies to take over monetary functionality and examines the structure of money as such, as well as the possibility of replacing fiat money with digital. In the second part of the work, the author examines the causes and consequences of the cryptocurrency boom and compares it with the events that took place at the time of the «Tulip fever» in the Netherlands. A brief analysis of the causes, mechanisms and events that took place in the Tulip market at the turn of 1636‒1637 in the Netherlands revealed a positive correlation with the events in the digital market during the cryptocurrency boom, when the cost of the most expensive cryptocurrency – bitcoin reached astronomical 20,000 us dollars per coin. These and other factors make it possible to predict the behavior of digital money in the medium term.

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Free Banking Era in USA, as an Important Stage of Evolution of Private Money Institute

Free Banking Era in USA, as an Important Stage of Evolution of Private Money Institute

Journal of Economic Regulation, , Vol. 10 (no. 2),

The main question considered in the framework of the research concerns the features of the evolution of the private money institution at certain stages of historical time. Today, an extremely relevant topic for discussion in the economic and academic environment is the cryptocurrency market, the rapid growth of capitalization of which, in mid-2017, gave rise to a large number of disputes and assumptions regarding their future use, including as a basis for the implementation the private money theories in the real economy, first considered from a theoretical point of view by one of the creators of the alternative monetary theory of “subjective money” Edwin Riegel, and the representative of the Austrian School of Economics F. Hayek in his book "Private Money". The resonance of this phenomenon was due to the fact that before this, in the monetary history of mankind, as noted by Hayek himself, there were no full-fledged examples of private money, and only with the appearance of the first Bitcoin cryptocurrency in 2009. Nevertheless, in the economic history of mankind there was a period that can be characterized as one of the closest in its characteristics and instruments used, to the system of private monetary circulation and emissions - a free banking era in the USA in the 19th century. Thus, a more detailed study of the construction of a quasi-private financial and monetary system of that time will provide the key to understanding how in the future it is necessary to build the institutional environment of private money based on the use of cryptocurrencies, and its implementation in the real sector of the world economy.

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The Results of the Economic Development of the Russian Federation in Q1 2019: the Economic Crisis is Getting Worse

The Results of the Economic Development of the Russian Federation in Q1 2019: the Economic Crisis is Getting Worse

Journal of Economic Regulation, , Vol. 10 (no. 2),

The development of the Russian economy in Q1 2019 is analyzed. Previous experience shows that in Russia even one first quarter of the year (along with long-term trends) is sufficient for more or more accurate forecasting of not only the results of the year, but also the subsequent development of the economy. The main major sectors of the economy and foreign economic relations of Russia in the first quarter of 2019 compared with the first quarter of 2018 are considered. The emphasis is on the dynamics of natural indicators. At the same time, the industry compares the data on the volume of production shown by Rosstat and the corresponding data of transport statistics. It establishes a significant excess of the former compared to the latter, which is interpreted as a decrease in the share of the shadow economy, not fixed by Rosstat in its generalized indicators for industry. Particular attention is paid to the results of March 2019 in the industry. Due to the lack of data, a number of assessments are approximate and expert. An analysis of the results of the first quarter of 2019, and especially of March 2019, indicates a serious aggravation of the economic crisis in Russia. The rate of decline of the economy has increased compared with the average annual rate of decline in 2008–2015. The reasons are the reduction of fixed assets, employment and Western sanctions. The long-term effects of the crisis are considered.

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Integration of Technological Factors and Institutional Conditions of Transition to Innovative Type of Economic Growth

Integration of Technological Factors and Institutional Conditions of Transition to Innovative Type of Economic Growth

Journal of Economic Regulation, , Vol. 10 (no. 2),

The article reveals the hierarchy of technological, economic, political, institutional, social and ecological factors of economic growth, based on its type. The authors substantiated that in the conditions of modern trends of the world economic development, technological innovations become the dominant factor of the innovation type of economic growth. The role of economic, administrative and political factors, as well as the institutional conditions for initiating and stimulating the economic growth, which is confirmed by the macro-dynamics data of national economies and international ratings of global competetiveness of national economies created by Global Economic Forum, is argued. The analysis of the factors of innovation type of economic growth presented in the article made it possible to propose priority directions of government economic policy.

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Economic Responsibility as a Power of Economic Relations

Economic Responsibility as a Power of Economic Relations

Journal of Economic Regulation, , Vol. 10 (no. 2),

The article discusses the problems and ways to improve economic relations in modern Russia. The author’s argument is based on the precondition of the role of economic responsibility of business entities on all levels of management decision making as the core of effective economic relations. A new interpretation of the concept of “labor”, “capital”, and “power” in the conditions of deformation of economic relations, that is, in the context of economic activity that creates anti-good and / or useless benefits, is proposed. An empirical analysis of capital as property and the revision of the concepts of the economic security concepts of the country's macroeconomic system has been carried out. The authors develop the existing points of view, according to which the “smart economy” adversely affects workers in the context of the use of digital technologies, and identify the economic context of new economic relations within the framework of the need to analyze the basic concepts and practices of the emergence of economic responsibility. The article substantiates the need for structuring levels of economic responsibility. The hypothesis that economic responsibility is the core of normal economic relations is argued.

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Features of Determination of Technology as NDT: Russian and Foreign Experience

Features of Determination of Technology as NDT: Russian and Foreign Experience

Journal of Economic Regulation, , Vol. 10 (no. 2),

The introduction purpose in practice of work of the enterprises of the best available technologies is ensuring gain of the natural capital and improvement of quality of ecosystem services. The set of all natural resources represents the natural capital which along with other types of the capital (physical, financial, intellectual, human and social) promotes formation of a national wealth of the country and provides its sustainable development. Special attention is now paid to questions of investment into the natural capital which includes modernization of fixed capital and improvement of the technologies used by the enterprises pollutants of the environment. In the given research authors analyze the major tool which introduction in practice of work of the enterprises, will allow to provide environmental friendliness of production, will improve a condition of fixed assets, will increase competitiveness, and, the main thing, will promote improvement of state of environment. The best available technologies which implementation promotes the decision act as such tool not only ecological, but also economic problems of the real sector of economy – reduces power consumption, water consumption, expenses. It is defined that the large export-oriented enterprises, including metallurgists, in the smallest – the housing and public utilities enterprises are most ready to introduction of NDT. The algorithm of determination of technologies as the best is given in article, the structure of information and technical reference books is analysed, the comparative analysis of the procedure of introduction of NDT in the different countries is carried out, on the basis of it SWOT analysis of process of definition of NDT with identification its strong is carried out and weaknesses, the technique of assessment of degree of "environmental friendliness" of the enterprises is offered.

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Problem Aspects of Formation in Russia of «The Smart Cities»

Problem Aspects of Formation in Russia of «The Smart Cities»

Journal of Economic Regulation, , Vol. 10 (no. 2),

In article difficult aspects of interrelation of various factors influencing an economic ecosystem of the «smart cities» created in Russia are considered. The corresponding problems take place not only in Russia. Understanding of problems is important for development of Strategy of formation and development of such cities at the regional and municipal levels and also for ensuring cost efficiency of infrastructure innovations. It is to note that smart city is not only a technical issue but also smart governance as a complex process of institutional change and acknowledgement of appealing visions of socio-technical governance. The national project «Digital Economy» which part are design actions for formation of «the smart cities» is aimed at institutional changes and improvement of quality of life of the population. In Russia now «the smart cities» are implemented rather as technocratic projects, without a factor of need of simultaneous transformation of economy of municipal economy that is unambiguously treated by the author of article as unjustified increase of risks. In the conditions of scarce budgets additional loading as on purchase of technologies and the computerized artifacts in the absence of the trained staff can be apprehended by control supervisory authorities as inefficient expenditure of budgetary funds. Exit from the mentioned impasse seems in formation at the municipal level of the business models considering not only economic indicators of payback of innovations, but also the prospects of development of the technologies offered to application. New business models have to become an integral part of projects of «the smart cities», allowing to create the cost which can be used for the solution of the economic problems existing in municipalities

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Quality of Higher Education in the Context of Institutional Change

Quality of Higher Education in the Context of Institutional Change

Journal of Economic Regulation, , Vol. 10 (no. 2),

The development of the digital economy in our country has been dynamic for several years. According to the approved programs and plans, various information technologies are gradually introduced into all spheres of life. The main vector of structural adjustment is aimed at modernizing personnel and education, improving legal regulation, creating the necessary infrastructure, as well as ensuring information security. Since higher education institutions are directly involved in the formation of the personnel reserve, it is necessary to pay special attention to their study. The digital economy requires education focused on the formation of a person with a certain set of competencies, ready for change, lifelong learning, able to solve the problems of financial and economic development of the country. Modernization of science and higher education is directly related to the transformation of human intelligence into a leading factor of national competitiveness. Reforms of the Russian higher education system has been going on for several decades. The widespread development of the Internet and other technologies has led to an increase in the availability of information. Automation of various production processes contributed to the complete or partial disappearance of a few specialties and a massive shortage of specialists with digital knowledge, skills and abilities. These trends have a significant impact on higher education institutions, which in turn requires them to appropriate changes in the specifics of the functioning and management, as well as improvement of the educational process. Therefore, the most important task of universities now is to develop a strategy for further development and digital transformation for a successful transition to a competitive educational and research activities.

Views: 186

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