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ECO journal (ECOnomics and industrial Engineering)

2018 year, number 12

Influence of Digital Economy on Business

V.D. Markova
Institute of Economics and Industrial Engineering SB RAS
Keywords: цифровая трансформация бизнеса, платформенные бизнес-модели, модель «продукт как услуга», новая производственная философия, Digital transformation of business, platform business models, model «product as a service», new production philosophy

Abstract >>
Author’s position concerning directions of digital economy’s influence on industrial companies’ activities is presented in the paper. Russian and foreign publications on digital transformation practices are analyzed. Main attention is paid to new instruments and principles of business management which determine company’s competitiveness in digital economy and help to develop new production philosophy. Analysis of Russian companies’ cases revealed that digital transformation yet covers only limited number of processes and business objects.

FinTech: Nature and Models of Implementation

I. D. Kotliarov
National Research University Higher School of Economics St. Petersburg, Saint-Petersburg
Keywords: финансовые технологии, финтех, банки, финансовые услуги, Financial technologies, FinTech, banks, financial services

Abstract >>
The paper analyzed the nature of financial technologies (FinTech). A historical periodization of evolution of FinTech is proposed. A list of factors that led to the emergence and fast development of FinTech is given. A list of main models of coexistence of traditional and innovative models of financial services is proposed. It is demonstrated that the financial services market will be dominated by financial institutions that combine traditional and innovative models.

E-Commerce: How Investments in Big Data Correlates to Customers’ Perception of Value

T. A. Lukicheva, N. S. Semenovich
St. Petersburg State University
Keywords: «большие данные», интеллектуальные данные, инвестиции, инновации, рынок электронной коммерции, онлайн-маркетинг, поведение потребителей, Big Data, Smart Data, e-commerce, investment, innovation, online marketing, consumer behavior

Abstract >>
The purpose of this article is to determine the efficiency of investments in Big Data, conducted by Amazon, Alibaba Group and eBay - three global leaders of e-commerce based on dynamics of their main economic indicators and consumers’ feedback analysis. The authors analyzed the investments in research and development as well as the latest projects related to Big Data. They are mapped to the value that consumers of these companies receive as a result of utilizing Big Data. Consumers’ consent to the companies using Big Data to enhance their customer experience is analyzed. Authors allocated the following as value parameters: relevance of individual (target) advertising, special offers and actions, transitions to sites of e-platforms. The correlation between consumers’ attitude to the use of their personal data through utilization of Big data and the quality of individual offers of the goods they receive from sellers are investigated and evaluated. Recommendations offered on how online retailers can utilize Big Data investments to further its operations.

Identifying Factors that Affect Success of Initial Coin Offering (ICO)

A.A. Ivlieva
NRU Higher School of Economics, Saint-Petersburg
Keywords: ICO, первичное размещение токенов, методы финансирования, криптовалюты, ICO, Initial Coin Offering, Successful projects, Financing methods, Cryptocurrencies

Abstract >>
ThisarticlereferstothesuccessfactorsofICOprojects which were identified using econometric modeling. The project success criteria are required receiving funding and the stock publishing. It is revealed that the success of projects is in direct proportion to the product’s state of readiness, the presence of a legal entity, the price of the token, the total issue and the average number of pages in social networks. On the other hand the availability of the product-application, the introduction of country restrictions for the participants, the indication of the planned budget, the presence of a minimum financial goal and the possibility of exchanging tokens for Fiat have a negative impact on the success of the project.

Will there be New Economic Breakthrough in Russia?

A. O. Baranov, V. N. Pavlov
Institute of Economics and Industrial Engineering SB RAS
Keywords: экономический прорыв, экономическая политика, экономика России, Economic breakthrough, economic policy, economy of Russia

Abstract >>
The article discusses the possibility of a significant acceleration of economic growth in Russia in the period 2019-2024. A comparison of Russia’s economic growth with the world’s largest economies in the period 1999-2017 is made. On the basis of a dynamic input-output model, the rationale for three options for the development of the Russian economy - a basic, optimistic, and pessimistic one - was made. It is shown that for a new economic breakthrough in 2019-2024, Russia’s GDP should increase by an average annual rate of 4.0-5.5%, while the average annual growth rate of investment in fixed assets should be in the range of 8-10%.The conclusion contains a list of policy measures that should provide a significant acceleration of economic growth.

Will Public-Private Partnerships Help Overcome the Stagnation Trap?

A. V. Alekseev1,2, V. I. Nefedkin1,2
1Institute of Economics and Industrial Engineering SB RAS
2Novosibirsk State University
Keywords: государственно-частное партнерство, муниципально-частное партнерство, стагнационная ловушка, экстрактивные институты, инклюзивные институты, устойчивый экономический рост, бизнес-элита, Public-private partnership, municipal-private partnership, stagnation trap, extractive institutions, inclusive institutions, sustainable economic growth, business elite

Abstract >>
The article discusses the features of the current model of the Russian economy, which led to both rapid growth in the early 2000s and the subsequent period of long stagnation. According to the authors, to get out of the stagnation trap it is necessary to shift the emphasis in the state regulation of the economy. From the increase in the public sector in the economy and the expansion of large corporations in the most important sectors of the financial and non-financial sectors should move to partnership schemes focused on long-term cooperation between the state and business in different areas. One of the formats of such interaction can be the development of public-private partnership (PPP) if it will not be of the nature of “quasi-PPP”, largely based on the forced for business interaction with the authorities under the scheme “money in exchange for loyalty” and mainly used for fiscal purposes and for the extraction of administrative rent. According to the authors, changes in the legislation and in the actual practice of its application in the direction of transition to mutually beneficial schemes of relations between the public and private parties to partnership agreements can transform PPP into a predominantly inclusive institution that contributes to sustainable economic growth. In combination with the transformation of the motivation of national business elites, this will facilitate the transition to a qualitatively new model of development of the Russian economy, based on a reasonable combination of private initiative with state support for socially significant projects.

Procurement of Innovative Products in the System of Innovation and Investment Policy of a State

K. A. Belokrylov
Southern Federal University, Rostov-on-Don
Keywords: инвестиционный климат, новая индустриализация, 4-я промышленная революция, инновационные кластеры, закупочная политика, инновационная продукция, критерии инновационности, спрос на инновации, Координационный совет, Investment climate, new industrialization, fourth industrial revolution, innovation clusters, purchasing policy, innovative products, criteria for innovativeness, demand for innovation, Coordination Council

Abstract >>
Based on existing studies of the world practice of implementing the innovation and investment policy, the author determines the model of this policy in Russia neoclassical, based on direct redistribution of resources. Some aspects of the implementation of this model are shown on the example of the Rostov region. The analysis of the dynamics of the average annual output per employee in large and medium-sized organizations in six innovative clusters of the region has been carried out, and the main factors affecting the dynamics of indicators of innovation activity in the region have been identified. Procurement of innovative products for state, municipal, and corporate (regulated public sector organizations) needs has been identified as the most important tool of innovation and investment policy. Contradictions and persistent problem areas of the procurement of innovative products are highlighted based on the audit of the effects of the formation of a single contractual system. Priority directions for stimulating the demand for innovation from public sector organizations have been proposed.

The New “May Decree” of the President: about the Regional Aspects of the Implementation

T. G. Ratkovskaya
Institute of Economics and Industrial Engineering SB RAS
Keywords: региональное неравенство, пространственные особенности, межбюджетные отношения, Сибирь, Regional inequality, spatial features, budget sufficiency, Siberia

Abstract >>
The “May decree” (2018) of the President of the Russian Federation No. 204 has become a policy document defining specific goals and objectives in the economy and social sphere for the next six years. The constituent entities of the Federation are tasked with synchronizing existing and new regional projects and programs in key areas of socio-economic development with this document. In this regard, the author considers the measures to improve inter-budgetary relations in the Russian Federation, which should contribute to the implementation of the tasks and smoothing regional inequalities. Based on the author’s scheme calculations are carried out and the interregional comparative analysis of a number of financial and budgetary indicators in a section of macro- regions of the Russian Federation (Federal districts) is executed. The pros and cons of such innovation in inter-budgetary relations as the model budget of the region are considered. Based on municipal districts the regional specificity of the territorial organization of local self-government is investigated. A comparative analysis of the structural characteristics of regional educational systems within some regions of the Russian Federation was carried. The need to more complete account of the spatial features of the socio-economic development of regions within the system of inter-budgetary relations was expressed.

Will the Siberian Fields Become Poorer? Agrarian Policy in the Mirror of All-Russian Agricultural Censuses

O. P. Fadeeva
Institute of Economics and Industrial Engineering SB RAS
Keywords: сельскохозяйственная перепись, Сибирский федеральный округ, землепользование, аграрная политика, регионы

Abstract >>
All-Russian agricultural censuses of 2006 and 2016 provide extensive material for assessing the changes that have occurred over the past decade in the agricultural sector of the Russian economy as a whole and in individual regions. A marked increase in agricultural production in the country as a whole combines with a decrease in the area of cultivated land. The Siberian regions, traditionally considered the main producers of food grain, were significantly inferior to the Russian regions in terms of growth of agricultural production, and the area of agricultural land in the Siberian Federal district was reduced much faster than in the whole country. The observed trends and their consequences are largely due to changes in the volume and structure of land use, in the ratio between different types of farms. These changes, in turn, are the result of market and land reforms of the 1990s, as well as the transformation of the state’s agricultural policy in the mid-2000s. The slowdown in growth and, possibly, stagnation of the agricultural sector in Siberia are inevitable if there are no changes in agricultural policy aimed at compensating for market failures and providing opportunities for competition to agricultural producers located in regions remote from the main markets.

Foundation and Develоpment of a Medical and Technological Cluster of the Novosibirsk Region

E.V. Mamonova1,2
1Innovative Medical and Technological Center Medical Technology Park
2Novosibirsk State Medical University
Keywords: медико-технологический кластер, импортозамещение, инновационная медико-технологическая продукция, Medical and technological cluster, import substitution, innovative medical and technological products

Abstract >>
The perspective of development of the Medical and technological cluster of the Novosibirsk region has been assessed as a point of growth of economics through formation of an industrial potential and technological opportunities for manufacturing of competitive products for medicine aimed at import substitution, entering the market of innovative products, elaboration of new developments, manufacturing and implementation of modern medical devices. The new issues related to formation of a cluster have been identified. Key performance indicators of its development for the period up to 2021 have been determined.

Agricultural Enterprises of Novosibirsk Region in the Late 1980s - 1990s

S. N. Andreenkov
Institute of History SB RAS
Keywords: колхозы, совхозы, сельскохозяйственные предприятия, аграрные реформы, сельское хозяйство, Новосибирская область, Сollective farms, state farms, agricultural enterprises, agrarian reforms, agriculture, Novosibirsk Region

Abstract >>
The paper analyzes agricultural enterprises activity in Novosibirsk Region; developing and functioning the organizational and economic structure of regional agriculture in the late 1980s, the causes and courses of its transformation in the 1990s; changing of the ownership and legal organizational forms of the agricultural enterprises. It reviews their performance under new market conditions, and some operation indicators like the material, technical and personnel base, the relative share in output of agricultural products, volumes and rates of its development. The author established the transfer of a key role in the agrarian economy of Novosibirsk Region from collective and state farms to large private companies and, at the same time, significantly decreasing of the volume of their output. The situation was especially dire in dairy and animal production. In the 1990s the most difficult period of agricultural sector activity in the Novosibirsk region were in 1996-1998.