Vestnik Sankt-Peterburgskogo Universiteta-Ekonomika-St Petersburg University Journal of Economic Studies最新文献

{"title":"The applicability of public-private partnership contracts for infrastructure projects as a function of their specificity","authors":"O. Patrakeeva, A. Patrakeev","doi":"10.21638/SPBU05.2020.403","DOIUrl":"https://doi.org/10.21638/SPBU05.2020.403","url":null,"abstract":"The Crimean bridge, as Russia’s largest infrastructure project, can be considered a marginal case of the relative effectiveness of public financing without the involvement of private partners. According to the formalization employed, the implementation of this project through market coordination leads to additional costs due to the rising level of specificity. The increase in these costs is not linear and is more intensive than growth in the level of specificity. Introduction of an NPV-efficiency assessment tool into the analysis allows us to prove a limiting reduction of this interval for considering the risk profile of the project under сonsideration. Reserves required due to the risk of rising budget expenditures due to the project’s scale actually does not exist according to these reasons: increases in the discount rate is more intensive than the rise of negative expectations; the rise of additional equity premiums is more intensive than the rise of the risk-free rate itself. Thus, the Crimean bridge project should be considered a marginal case of the relative effectiveness of direct state funding comparing PPP scheme.","PeriodicalId":41730,"journal":{"name":"Vestnik Sankt-Peterburgskogo Universiteta-Ekonomika-St Petersburg University Journal of Economic Studies","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67781300","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Recent trends in the implementation of trade and development strategies in developing countries","authors":"A. Popova","doi":"10.21638/spbu05.2020.302","DOIUrl":"https://doi.org/10.21638/spbu05.2020.302","url":null,"abstract":"Globalization in the 21st century, like any profound process occurring in society, brings both new opportunities and risks. One tool that helps countries overcome continued economic uncertainty is strategic planning. Despite the fact that the scientific community is still debating whether the state should coordinate a country’s economic processes, in practice the number of strategic trade and economic initiatives is constantly growing. This article analyses trends in the design of trade and economic strategies in developing countries from 2000 to 2015, reasons for growing interest in implementing such initiatives, and changes in the structure of strategic documents. Calculations are based on systematic and graphic analyses of data published by the International Trade Centre and the World Bank. The results of this analysis show that increasing interest in implementing trade and development initiatives in the 2000s was preceded by a World Bank policy aimed at alleviating the burden of high-indebted by poor countries. This policy required beneficiaries to have a poverty reduction strategy (e.g. the Poverty Reduction Strategy Papers — PRSP). The development of PRSPs helped to create and/or restore institutional mechanisms needed to implement such initiatives, which had been lost back in the 1980s. The promotion of the global development goals—Millennium Development Goals (MDGs) 2000–2015 and Sustainable Development Goals (SDGs) 2015–2030, adopted by 193 UN member states — served as a trigger for scaling up the development of strategic initiatives. Such initiatives adopted in developing countries, with the support of international organizations, were focused mainly on solving the food and nutrition problems and improving basic social services. Their successful implementation improved existing planning practices and increased the effectiveness of state institutions in developing countries. At the same time, the first positive results returned faith in the effectiveness of these strategic programs for the development of a country’s economy. This created an impulse for the capacity of developing countries to implement later trade and economic strategies without the support of third organizations, giving them the autonomy to allocate resources in high valueadded sectors. Nevertheless, despite all the efforts in developing countries, the weak points of these initiatives remain poor elaboration of action plans and the lack of financial resources to achieve stated objectives.","PeriodicalId":41730,"journal":{"name":"Vestnik Sankt-Peterburgskogo Universiteta-Ekonomika-St Petersburg University Journal of Economic Studies","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67781391","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Digital transformation in companies: Strategic analysis, drivers and models","authors":"Maria Tsenzharik, Y. Krylova, Valeriia Steshenko","doi":"10.21638/spbu05.2020.303","DOIUrl":"https://doi.org/10.21638/spbu05.2020.303","url":null,"abstract":"The article provides terminology for processes of digitalization and digital transformation. For structuring digital transformation processes, the authors offer a modification of the strategic scorecard and distinguish technologies as an additional perspective. Using business cases, the authors analyzed approaches to digital transformation, revealed principal digital transformation models, and described them. The interrelations between targets, models, and strategies of digital transformation are demonstrated. The authors argue that digital transformation has to be considered to be a part of corporate strategy rather than isolated processes, with common strategizing tools and metrics applied. External and internal environment elements for digital transformation are structured. It is shown that the internal digital environment can be evaluated with the companies’ digital maturity models. The external environment has a complex structure that can be described by the digital economy and society development in a country, a region, and a city; digital intensity level in an industry; and a digital ecosystem potential. All the authors’ contributions and conclusions are based on research papers, public statistical data, and analysis of Russian and foreign companies.","PeriodicalId":41730,"journal":{"name":"Vestnik Sankt-Peterburgskogo Universiteta-Ekonomika-St Petersburg University Journal of Economic Studies","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67781505","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"World Trade Organization: Quo vadis?","authors":"S. Sutyrin, Guang Xueling, M. Jovanović, M. Mashayekhi, Jean-Marie Paugam, A. Portansky, M. Smeets","doi":"10.21638/SPBU05.2020.401","DOIUrl":"https://doi.org/10.21638/SPBU05.2020.401","url":null,"abstract":"During last couple of years, the academic community, national civil servants in charge of trade policies, and employees of international economic organizations have intensively discussed reforming the World Trade Organization. All participants of the debate tend to agree that the system of multilateral trade regulation in its present form does not match expectations and requirements. There is less unanimity regarding the reasons that have resulted in the poor performance of the institution under review. As for possible ways to solve the problem, existing opinions differ dramatically. Both expert views and official proposals of WTO members (Canada, EU, Japan, China and some others) deal with prospects for the Doha round, modalities of future agreements, decision-making process, and a range of other questions waiting for uneasy answers.","PeriodicalId":41730,"journal":{"name":"Vestnik Sankt-Peterburgskogo Universiteta-Ekonomika-St Petersburg University Journal of Economic Studies","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67781222","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Digitalization of the economy and its impact on economic development and social welfare","authors":"Alexey Vorontsovskiy","doi":"10.21638/spbu05.2020.202","DOIUrl":"https://doi.org/10.21638/spbu05.2020.202","url":null,"abstract":"Th e article is devoted to the problems of digitalization of the modern economy and its in fl u-ence on economic processes that determine economic growth and social welfare. It is noted that digitalization does not become a signi fi cant factor of economic growth and has a contra-dictory e ff ect on the growth and size of GDP; further development of the theoretical founda-tions of analysis and measurement of economic growth in the conditions of digitalization is required. Th e role and importance of process innovations in the conditions of digitalization are highlighted, the wide application of which may not lead to GDP growth. It is shown that the business in the fi eld of computer and information technologies, as well as the sharing business, based on the widespread use of Internet services and cloud technologies, is currently developing rapidly. It is noted that companies operating in the fi eld of network technologies o ft en do not have a very clearly de fi ned amount of material capital; their business is based on using existing or creating their own digital platforms located on the Internet; they o ft en do not own any signi fi cant material assets. For them, it is extremely di ffi cult to determine the amount of capital spent, and the useful result of such a business-processing and issuing information-does not have an unambiguous quantitative assessment. It is necessary to develop new forms of evaluating the useful results of this business. Sharing business, while in fl uencing the growth of individual welfare, can simultaneously lead to a reduction in public welfare, since it encour-ages the distributed use of existing items of shared consumption, rather than increasing their production. It is noted that for businesses that rely on Internet services, the management sys-tem is simpli fi ed, which is reduced to managing the creation, processing and redistribution of information, rather than creating new products and industries, which also inhibits economic growth. Th e processes of globalization and monopolization in the digital economy are ana-lyzed. Digitalization of the economy requires the development of economic theory, taking into account modern realities.","PeriodicalId":41730,"journal":{"name":"Vestnik Sankt-Peterburgskogo Universiteta-Ekonomika-St Petersburg University Journal of Economic Studies","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67781339","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Analysis of the external factors influence on the forecasting of bankruptcy of Russian companies","authors":"E. Fedorova, S. Musienko, F. Fedorov","doi":"10.21638/spbu05.2020.106","DOIUrl":"https://doi.org/10.21638/spbu05.2020.106","url":null,"abstract":"macroeconomic indicators, raises the question of establishing the dependence of bankruptcies of Russian companies on certain external factors. Based on the experience of foreign studies, in which the importance of external factors was repeatedly proved in bankruptcy prediction models, a set of variables was formed that should be included to increase predictive ability. Using an empirical base that includes 716 construction companies (340 bankruptcies), 702 manufacturing companies (339 bankruptcies), 713 trading companies (334 bankrupt-cies), using the binary choice models, bankruptcy prediction models were constructed, in-cluding two variable blocks: internal and external factors. External factors affecting bankruptcies of Russian companies include GDP growth, key rate, rate/increase in US dollar / euro rate, consumer price index, growth in MICEX index, and unemployment rate. The inclusion of variables characterizing external factors into the model significantly increased the explanatory capacity of the model compared to models based only on internal factors. The results can be used by companies to improve accuracy of forecasting bankruptcy probabilities, taking into account the macroeconomic context. In addition, the results of the study can be used by public authorities. Since the regulation of some of these external factors lies at the heart of the coun-try’s monetary policy, the state has the ability to influence not only macroeconomic processes, but also the health of Russian companies.","PeriodicalId":41730,"journal":{"name":"Vestnik Sankt-Peterburgskogo Universiteta-Ekonomika-St Petersburg University Journal of Economic Studies","volume":"42 3 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67781240","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Analysis of export and import structures using network methods (on the example of the agricultural market)","authors":"S. Lapinova, Alena Anikina, A. Osharin","doi":"10.21638/spbu05.2020.304","DOIUrl":"https://doi.org/10.21638/spbu05.2020.304","url":null,"abstract":"Analysis of trade cooperation between countries and identification of the most significant market participants is of great importance, both theoretically and empirically. The global trading community forms a network of international relations defined by trade contracts in various industries. Export-import trade flows are one of the key indicators of the level of cooperation among countries and the state of the global economy. The high intensity of such contacts across groups of countries suggests the existence of clusters in this market segment,consisting of central players — exporters and importers, who often define rules for other participants.Understanding the existence and identification of such a center helps to develop an optimal international trade strategy. The purpose of this contribution is to identify factors affecting trade flows among different countries. Statistical analysis of the international trade relations does not always reveal all the essential aspects of cooperation. This paper combines the methods of graph theory and econometric analysis to study the parameters of trade flows among countries. The parameters used in the network analysis make it possible to obtain additional characteristics of market participants, which help to evaluate their significance in the world trade. The paper also identifies some key mathematical and economic characteristics of export-import flows connecting destination countries. We have analyzed the directions of changes in world trade and established correspondences between metric characteristics of graph vertices and parameters of world trade models. The Russian indicators in export/import categories and its largest sales agents are estimated. The identification of the key intermediaries and importers (centers and authorities) on each of the markets in question has been carried out. As an example for this identification the market of agricultural products among the world’s largest exporters and importers of the product were used.","PeriodicalId":41730,"journal":{"name":"Vestnik Sankt-Peterburgskogo Universiteta-Ekonomika-St Petersburg University Journal of Economic Studies","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67781429","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Instrumental support for designing mechanisms of institutional interventionism","authors":"S. Kristinevich","doi":"10.21638/spbu05.2020.301","DOIUrl":"https://doi.org/10.21638/spbu05.2020.301","url":null,"abstract":"The interaction of participants in the political-economic process cannot always be successfully described in terms of mechanisms of market coordination and is not always based on principles of a voluntary and mutually beneficial exchange that increases well-being. The fact is that economic actors are not uniform in the possession of power. Accordingly, activity for the rational use of limited resources is not based on competition between homogeneous economic entities in a spontaneous economic order, but on conflict between subjects with different power potentials in a hierarchical structure. Thus, power acts as a competitive advantage, which rational subjects tend to use for the purpose of force redistribution. One of its forms is institutional intervention — a behavioral model based on a coercive strategy through the establishment (change) of rules. The article describes the potential use of optimization and equilibrium models to describe the behavioral interventionist strategies. Optimization models characterize the interventionist behavior at the initial stage of institutional design, and equilibrium models determine possible variation in interactions between interventionists and victims during the redistribution of power. Methods for quantifying effects of institutional сhange are systematized. The proposition that violent equilibrium is not a specific distribution of mutual gains from cooperation, both with voluntary exchange and coordination level of tolerance (the maximum value of costs that the victim is willing to sacrifice) and a threshold (the lowest possible) values interventionist legitimacy, is substantiated. As guidelines for the evaluation of deviations from the equilibrium levels, we offer levels stability, efficiency, and legitimacy of institutional design.","PeriodicalId":41730,"journal":{"name":"Vestnik Sankt-Peterburgskogo Universiteta-Ekonomika-St Petersburg University Journal of Economic Studies","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67781378","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The effect of sanctions on Russian agricultural imports","authors":"E. Zhiryaeva, N. Svetlov, Central Economics","doi":"10.21638/SPBU05.2020.405","DOIUrl":"https://doi.org/10.21638/SPBU05.2020.405","url":null,"abstract":"This paper contributes to the methodology of trade policy analysis, specifically to the assessments of non -tariff measures. To quantifying the effects of these measures, the proportion between the variables of two gravity equations, describing the situation before and after the embargo is used. The ratio of imports per unit of the supplier’s GDP over the two compared periods (2013 and 2017) is different for two groups of trade partners, one of which includes free-trade partners while the other spans the rest of the world (with some exceptions). In the presence of the embargo the gap in the average imports per unit of the supplier’s GDP between the two groups is wider. This is a consequence of the emergence of a new trade barrier. This gap allows us to indirectly quantify the trade bans via their tariff equivalent. In this study the methodology is applied to the case of food and agricultural imports. Fish, as well as other products outside chapters 1–24 of Harmonized commodity description and coding system, are excluded. The hypothesis of the study is that the impact of the embargo on the food and agricultural imports does not exceed that of tariff and phytosanitary measures. The study rejects this hypothesis and concludes that the embargo establishes a prohibitive level of protection.","PeriodicalId":41730,"journal":{"name":"Vestnik Sankt-Peterburgskogo Universiteta-Ekonomika-St Petersburg University Journal of Economic Studies","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67781322","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"О природе регулирования конкуренции","authors":"Ю.В. Тарануха","doi":"10.21638/SPBU05.2019.302","DOIUrl":"https://doi.org/10.21638/SPBU05.2019.302","url":null,"abstract":"The article examines the nature of competition regulation. Using the reproduction approach, the author reveals the internal nature of reasons for regulating competition, which is caused by inconsistencies in relationships within competition itself. Regulation of competition is the inevitable result of its developmental process: the transition from free to regulated competition results from the resolution of contradictions inherent in competition. Strengthening the regulatory components of competition is an evolutionary pattern, caused by the growth of integration processes in the economy, and by the intensification of the destructive effects of competition. Specific attention is paid to the evolution of the regulatory component of competition and forms of its manifestation. The author shows that the content of a competitive attitude is transformed in towards changing the principle of competitive rivalry, as expressed in the transition from an uncompromising struggle to its competitive forms that do not imply a vital outcome of the struggle. As a result, regulating competition becomes increasingly susceptible to internal factors. Therefore, in parallel with strengthening external measures of influence, there is an increasing trend towards self-regulation. The author interprets this as the basis for the transition to a new form of competition in the future — competitive competition, which is a form of rivalry based on voluntary restriction of egoistic claims and establishing partnerships between rivals for the sake of enhancing joint competitiveness.","PeriodicalId":41730,"journal":{"name":"Vestnik Sankt-Peterburgskogo Universiteta-Ekonomika-St Petersburg University Journal of Economic Studies","volume":"35 1","pages":"330-359"},"PeriodicalIF":0.5,"publicationDate":"2019-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"67780879","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}