Вестник Самарского государственного экономического университета

Вестник самарского государственного экономического университета
Vestnik of Samara State University of Economics

2025 №3 (245)

ECONOMIC THEORY

Perepelkin V.A., Romanova A.A., Romanov P.A.

The economic content of complementarity of educational services in theory and practice

Abstract. The article presents the results of studying the concept of "complementarity" as applied to educational services and the possibilities of their provision. With regard to graduates of vocational educational institutions, the change in the strength of the impact of the complementarity of the education received and work experience on the assessment of work by employers overtime is shown. It is revealed that the signaling effect of havinga vocational education is most pronounced in the early stages of a working career, weakening subsequently. Consideration of the complementarity of traditional education and online learning made it possible to establish the need and possibility of their joint mutually beneficial development. Along with the new positive opportunities opening up for the Russian education sector, the macroeconomic condition for the practical implementation of the described scenario for its further growth is indicated.
Keywords: complementarity, educational services, vocational education, signaling effect, work experience, knowledge, skills, traditional education, online training. Highlights: - expressed through a combination of complementarity and consistency, complementarity is inherent in the actions of any rational economic entity, especially in intellectual activity, which can legitimately include educational services; - the ratio of the influence of complementary professional training and work experience on the employer`s assessment of work varies at different stages of the career, changing over time against the first complement; - there is a strong complementarity between traditional educational services and those provided online, with the latter currently playing a complementary role; - the fundamental importance of state participation in the development of educational services is substantiated, and the significance of increasing the well-being of the population as a condition for mass acquisition of modern knowledge is established.

Email:	slavaap@rambler.ru; romanova.osu@yanclex.ru; r-peter@yandex.ru
Сведения:	Viacheslav A. Perepelkin - Samara State University of Economics, Samara, Russia; Anna A. Romanova - Orel State University named after I.S. Turgenev, Orel, Russia; PetrA. Romanov - Yandex LLC, Moscow, Russia

Rakhmeeva I.I., Filatov D.V., Andronov M.Yu.

A game-theoretical model for conducting a public discussion of the legal regulation of entrepreneurship

Abstract. In the Russian practice of state regulation, institutions of involving economic agents in as-sessingthe effectiveness of policies, analyzing and adjustingthe regulatory environment are taking root. However, low efficiency of such tools for the purpose of reducing administrative costs and weak involvement of stakeholders in public management processes are noted. This actualizes the need to model public discussion procedures with the development of approaches to improving communications between government and business. The purpose of the article is to build a model of public consultations that provides the ability to adjust individual parameters in the practice of public administration to improve the efficiency of assessing the regulatory impact as an institution for making collective management decisions. The key research methods are institutional analysis, game-theoretic approach, and sociological survey. The features of domestic institutions for making collective decisions in public administration are analyzed. Based on game theory, a model of public consultations on draft legal acts with the civil community is built. In the game matrix, gains are presented as the difference between direct benefits and costs, taking into account lost opportunities for two players - the state and the entrepreneur (association). A condition has been found under which partnership relations are an equilibrium in dominant strategies for both parties. The results are supplemented by data from a survey of civil servants and entrepreneurs regarding their ideas about the institution of assessing legal acts. The author`s developments provide the possibility of adjusting individual parameters in public administration practice to improve the effectiveness of assessing regulatory impact as an institution for making collective management decisions.
Keywords: regulatory impact assessment, collective decisions, collective regulation, co-regulation, lean regulation, business and government communications, public discussions, game theory, game-theoretic model. Highlights: - the game-theoretic model of public consultations with the business community leads to 4 possible outcomes of interaction: state dominance, informal lobbying, inertia option and partnerships; there is a condition under which the "partnership" will be an equilibrium in the dominant strategies; - all groups of participants of the regulatory impact assessment have a skeptical or optimistic attitude towards the effectiveness of this institution as a tool to reduce the administrative burden and as a mechanism for balancing the interests of the parties; - the problem of the principal agent remains relevant in regulatory impact assessment. It defines key tasks in the medium term: transformation of officials` relations to the institute, increasing the involvement of top officials in improving the regulatory environment, increasing the degree of consideration of the positions of participants in public consultations and conclusions of assessment conclusions, reducing the asymmetry of access to information to ensure an evidence-based approach the sides of the business.

Email:	rahmeeva_ii@usue.ru; dmitryfiht@ya.ru; m-andronov78@yandex.ru
Сведения:	Irina I. Rakhmeeva, Dmitry V. Filatov, Mikhail Yu. Andronov - Ural State University of Economics, Yekaterinburg, Russia

Ryazanov N.A.

Foreign experience and prospects for the development of import substitution in Russia

Abstract. The article presents some aspects of import substitution development, such as direct indicators of this process, indicators characterizing the intensity and efficiency of investment for import substitution purposes, indirect indicators reflecting current and prospective opportunities for maximizing import substitution processes. The main special institutions influencing the activation and ensuring the efficiency of import substitution are identified, a classification of import substitution types in the modern economy is presented. Foreign experience is considered and ways for Russia and the Samara region are proposed.
Keywords: import substitution, South Korea, Japan, goods and services, security. Highlights: - it is proposed to consider not any goods, works or services produced and sold within the framework of the national economic system as objects of the import substitution process, but only those that are characterized by relatively high competitiveness both in the domestic and, potentially, in external (global) industry sales markets; - as a result of the displacement of imported goods, sold on the basis of the use of predominantly state administrative resources, only domestically produced analogues remain on the domestic market, characterized by a clearly lower level of quality, which, accordingly, are not capable of effectively satisfying consumer demand; such a process is unlikely to be either socially or financially satisfactory, and, in our opinion, it is not entirely correct to consider it as a process of import substitution.

Email:	Nryazanov@mail.ru
Сведения:	Nikolay A. Ryazanov - Samara State University of Economics, Samara, Russia

Fattakhov T.V.

Evolution of economic-theoretical approaches to the reproduction of intellectual capital

Abstract. The article considers the main features of the study of the problems of intellectual capital development within the framework of late neoclassical economic theory, institutionalism and neoinstitutionalism paradigms, and the post-neoclassical direction of economic thought. The specifics of the influence of basic socio-economic institutions on the formation and development of intellectual capital are highlighted. The features of the key methods of formation and development of intellectual capital, which are relatively widely used in modern foreign economic practice, are noted: the use of distance learning systems (e-learning), training individuals in entrepreneurial skills, the use of and participation in the improvement of intangible assets, the creation and provision of effective functioning of quality circles at enterprises, the organization of intrapre-neurship (intra-firm entrepreneurship). The main advantages and limitations of the potential use of these methods are indicated.
Keywords: intellectual capital, education, quality, method, intrapreneurship, benchmarking, startup. Highlights: - the efficiency of economic systems development in modern economic conditions directly depends on the quality of reproduction of intellectual capital; the work specifies the content of the economic concept of "intellectual capital of an individual"; - the intellectual capital of an individual is a complex of interrelated knowledge, skills, competencies, creative abilities formed on the basis of systemic accounting of institutional statics and dynamics, aimed at the most complete integration of their bearer into the structure of the labor market, obtaining a stable positive marginal income and increasingthe quality of life of an individual and his family; the relationship between the intellectual capital of individuals, firms and the national economy as a whole is shown; - the reproduction of intellectual capital includes the process of consistent implementation of the stages of its production, distribution, exchange and consumption; the work supplements the classification of types of reproduction of intellectual capital of individuals according to such features as the organization of the reproduction process, the degree of its standardization, the internal balance of reproduction and the congruence of the latter with the processes of reproduction of intellectual capital of another level (employer organization, region, state), rationality and the degree of altruism of the results of reproduction.

Email:	tvfat@mail.ru
Сведения:	Timur V. Fattakhov - Kazan (Volga Region) Federal University, Kazan, Russia

WORLD ECONOMY

Severilov A.V.

Principles of optimization of international multimodal transportation at the present stage of development of the global economic system

Abstract. The work presents the main principles and areas of interaction between the logistics of international multimodal transportation and other basic types of logistics, such as production logistics, military logistics, logistics of social organizations, logistics of innovative infrastructure facilities of the economy. The key potential contradictions between these areas of logistics activity are highlighted. The risks of the activities of companies in the field of international multimodal transportation are systematized, including several groups: risks of using individual modes of transport; modified for the sub-sector of international multimodal transportation; general risks of entrepreneurial activity (operational, financial, commercial, personnel, digital-ization risk); specific risks for this area of international contracts, including those associated with the complexity of determining the optimal route for transporting goods through several countries, the increased complexity of multi-stage international transport management, additional risks of bad faith fulfillment of obligations by foreign partners.
Keywords: multimodal transportation, transport service, risk, logistics, paradigm, international management. Highlights: - optimization of the company`s activities in the field of international multimodal transportation is a coordinated process of multi-criteria optimization of cargo transportation itself, taking into account the qualitative proportions of the development of foreign transport service markets, optimization of sources of financingthe development of a business entity, includingthe possibility of attractingfinancial and investment resources in foreign and virtual capital markets, balancing financial and economic activity indicators, optimizing business relations with national and foreign strategic partners and local institutional support for the company`s functioning; - principles are proposed for ensuring the efficiency of a company`s activities in the field of international multimodal transportation, such as the principle of focusingon implementing international multimodal transportation primarily on the territory of friendly or neutral states; the principle of preferential focus on forming long-term relationships with foreign partners; the principle of multi-faceted and multi-criteria optimization of a company`s activities in the field of international multimodal transportation; the principle of congruence of strategy and tactics of managing a company in the field of international multimodal transportation; the principle of balanced business processes; the principle of systematic accounting of the statics and dynamics of formal and informal institutions that influence international multimodal freight transportation; principles of scientifically based risk management and comprehensive digitalization of the company in the field of international multimodal freight transportation.

Email:	severilov@me.com
Сведения:	Andrey V. Severilov - A7 Holding JSC, Moscow, Russia

REGIONAL AND SECTORAL ECONOMY

Boldiasov A.I., Karashchuk O.S.

The impact of fluctuations in crop volume on prices in the Russian grain market

Abstract. The aim of the work was to study the relationship between the dynamics of domestic prices in the markets of individual types of grain products and fluctuations in gross harvests for the corresponding grain crops under conditions of varying degrees of integration into the world market for the corresponding type of product. Based on the theoretical analysis, an assumption was made that domestic prices in Russia depend on fluctuations in the volumes of gross harvests for grain crops used for domestic consumption in the country, as well as for grain products that have a significant share of deliveries to the world market. Another assumption was that domestic prices for grain crops do not react noticeably to changes in the volumes of gross harvests for types of grain products that have an insignificant share in deliveries to the world market. Conducting a regression analysis made it possible to confirm the hypotheses of the study. Average annual prices for wheat, rye and oats turned out to be dependent on fluctuations in the amount of gross harvests, and there was no such dependence with respect to prices for barley and corn. At the same time, Russia has a large share in the world`s wheat supplies, consumes rye and oats exclusively domestically, and has an insignificant share in the world market for barley and corn. The predominant contribution to the instability of harvest volumes and, as a result, the change in domestic prices was made by the dynamics of the yield of individual types of grain crops. The results of the study can be used to develop instruments for state regulation of the market for individual types of grain products, in particular, to reduce price volatility in these markets.
Keywords: grain market, price, gross harvest, yield, world market, export. Highlights: - the amount of gross harvest is an important price-forming factor for those types of grain for which the country occupies a leading position on the world market, as well as for crops intended for consumption on the domestic market; - fluctuations in the volume of gross harvest do not have a significant impact on the formation of prices for types of grain in the world export of which the country does not play a key role; - the elasticity of average annual prices for wheat, rye and oats in relation to the amount of gross harvest in the previous calendar year amounted to from -0.42 to -0.35, domestic prices for barley and corn were insensitive to the dynamics of the volume of gross harvest; - fluctuations in the yield of the main crops made a decisive contribution to the dynamics of gross harvest and, as a result, to the change in prices on the Russian grain market.

Email:	alex.bl3@rambler.ru; kseniak72@mail.ru
Сведения:	Alexey I. Boldiasov, Oksana S. Karashchuk - Plekhanov Russian University of Economics, Moscow, Russia

Geraskin M.I.

Estimation of state influence parameters on volunteer behavior model based on analysis of incentive function

Abstract. The article analyzes the behavioral models of the volunteer community, as well as state regulation of the volunteer movement in Russia. The psychological and economic factors of volunteer behaviorare studied, based on the generalization of which the prerequisites for creating an economic and mathematical model are formed. The factor of psychological inclination of individuals to volunteer activity is identified, for the characterization of which the concept of inclination to altruism or altruism is introduced. The structure of an economic and mathematical model of volunteer behavior is proposed, integrating altruism and material interest of individuals, which makes it possible to assess the interconnected influence of psychological and material incentives on volunteer activity. The information base of the study was the distribution of the structure of volunteer time aggregated by Rosstat for four reporting periods (2016, 2018, 2020, 2022). As a basic research method, the method of modelingthe incentive function was used, the assessment of the coefficients of which makes it possible to calculate the estimate of the incentive fund aimed at encouraging individuals to volunteer activity. A procedure for determining the coefficients of the incentive function has been developed, based on the hypotheses of individual rational behavior and the decreasing nature of the analyzed function. Numerical experiments have been conducted that model the stimulation of volunteer activity in the conditions of Russian society based on volunteer statistics in 2016-2022. Within the framework of the modeling, the coefficients of the incentive function have been determined and the possible volumes of the incentive fund that generate the corresponding volunteer actions have been calculated. As a result, trends in changes in volunteer activity have been identified, and conclusions have been made about the specifics of these processes in the Russian Federation.
Keywords: behavioral model, government regulation, altruism, incentive model, volunteer. Highlights: - the behavioral model of volunteer activity is determined by both psychological factors of the personality of individuals and their material interest in participating in socially significant events, as a result of which the model includes the parameter of an individual`s altruism and the parameter of material incentives; - the total indicator of material incentives received by all volunteers allows us to assess the degree of influence of the state budget and extra-budgetary (corporate) sources of financing on the scale of volunteer activity; - statistical data aggregated by state statistics bodies provide an empirical basis for calculating the estimated values of the coefficients of the incentive function and the total fund for financing volunteer activity.

Email:	innovation@ssau.ru
Сведения:	Mikhail I. Geraskin - Samara National Research University named after academician S.P. Korolev, Samara, Russia

Gibadullin A.A.

Assessment of the sustainability of the functioning and development of the thermal power complex of the Russian Federation

Abstract. The article analyzes the sustainability of the operation and development of the heat and power complex of Russia. The analysis of the structure of heat production by fuel types, the length of sections of main heating networks, the dynamics of the specific consumption of fuel and energy resources, the dynamics of the installed capacity utilization factor, the length and share of heating and steam networks in need of replacement is carried out. Based on the analysis, it was revealed that about 50% of heating main networks in 2022 had been in operation for 30 years or more. It was found that over 30% of all heating networks need to be replaced. It was determined that the production capacities of thermal power plants and boiler houses are loaded in the average annual period by no more than 25%, which indicates the impossibility of fully using the installed capacity and thereby ensuring the necessary revenue from the sale of heat and steam. The relationship between challenges, trends and patterns in the heat and power complex of the Russian Federation is presented. Scientific and practical recommendations are given that allow for the implementation of systemic changes in thermal power engineering during the period of absence of large financial receipts in order to achieve sustainable operation and development.
Keywords: heat and power complex, heat supply, sustainability, development, technical condition, heating networks, challenges, trends, patterns. Highlights: - asa result of the analysis, a trend of decreasing stability of the thermal power complex functioning was revealed, expressed in the obsolescence of heating networks, increased fuel consumption in the framework of boiler production, a decrease in the coefficient of use of the installed capacity and an increase in the volume of heating and steam networks requiring replacement; - based on the identified factors negatively affecting the thermal power complex, the relationship between the challenges, trends and patterns of the thermal power complex is presented; - scientific and practical recommendations are proposed that allow for the implementation of systemic changes in thermal power engineering during the period of absence of large financial receipts in order to achieve stability of functioning and development.

Email:	11117899@mail.ru
Сведения:	Arthur A. Gibadullin - National Research University "Moscow Power Engineering Institute", Moscow, Russia, Financial University under the Government of the Russian Federation, Moscow, Russia

Dadykin V.S., Dadykina O.V., Burago V.V.

Methodological aspects of conducting an economic assessment of forecast resources based on fuzzy logic

Abstract. The assessment of the current state and forecast of the use of mineral resources are among the basic elements of planning in the field of subsoil use. At the same time, if the assessment of the state of mineral resources is generally a well-studied task, then when working with the assessment of forecast resources, it is necessary to involve experts. The peculiarity of using expert assessments is a fairly high level of their differentiation in individual cases. Accordingly, there is a need, on the one hand, to create an information system that could accumulate assessments and develop general recommendations based on expert opinions, and on the other hand, to develop a methodology that allows accumulating expert assessments based on general criteria. It is worth noting that the mathematical apparatus of fuzzy logic has been used for a long time to solve such problems. At the same time, it should be emphasized that in relation to the geological subject area and in particular for the expert assessment of the state of forecast resources, the use of fuzzy logic remains insufficiently studied. In this paper, an attempt is made to build a methodological chain from the formation of an ontological model of the system of economic assessment of forecast resources to the accumulation of estimates in fuzzy sets with the output of a consolidated result. The study is carried out on the example of forecast resources of solid minerals, includingthose common in the Bryansk region.
Keywords: economic assessment of forecast resources, subsurface use, ontological data model, economic efficiency assessment. Highlights: - the application of fuzzy logic methods to the economic assessment of forecast resources is based on an ontological model; - the ontological model of the economic assessment of forecast resources contains the interrelations of the semantics of prospecting and exploration of forecast resources; - the mathematical apparatus of fuzzy logic can be used to conduct a consolidated expert assessment with the conclusion of a general result, which is confirmed by the convergence of the forecast performed based on retrospective data with the results of subsequent geological exploration work.

Email:	Dadykin88@bk.ru; Atamanova_281287@mail.ru; vvbur@yandex.ru
Сведения:	Valery S. Dadykin, Olga V. Dadykina, Vyacheslav V. Burago - Bryansk State Technical University, Bryansk, Russia

101

Kagramanyan N.S., Lukyantseva S.V

Directions for improving mechanisms for stimulating investment activity of regional enterprises

Abstract. The high level of interregional stratification of investment activity requires the development of solutions to reduce the differentiation of regions, since the investment component is an important factor in economic development and directly affects the economic potential, both now and in the longterm. In recent years, a set of tools has been developed thatare mainly focused on organizational, familiarization, information and infrastructure methods for increasing the investment attractiveness of regions. In our work, we tried to analyze the main factors influencing the investment indicators of regions, including in the analysis not only the most obvious economic indicators, but also information on infrastructure construction and assessment of regions for the implementation of the regional investment standard. Of course, it is still too early to summarize such innovations as the infrastructure menu or the regional investment standard, but we considered it necessary to draw some intermediate results on the compliance of these indicators with the volumes of investment activity in the regions. To combine the listed heterogeneous factors into a single whole, the cluster method was used in the work, which made it possible to group the regions by a set of various indicators affecting investment indicators. All indicators are calculated per capita in order to avoid errors associated with significant differences in the population of the regions. Regression and cluster analysis made it possible to establish that, in general, investments depend on the level of industrial production. Industrial production has a direct impact on GRP and population income, forming a demand and creating opportunities for further investment in production, infrastructure, as well as in housing construction - due to the growth of population income. The highest indicators are distinguished by 10 leading regions, among which are mainly economically developed regions with an expanded extractive export-oriented industry, as well as the capital region. Therefore, the most expedient and effective way to improve investment indicators will be to promote the industrial development of each region. In our opinion, the mechanisms for stimulating investment activity should ultimately take this circumstance into account.
Keywords: analysis, differentiation of regions, investments, investment climate, infrastructure menu, cluster analysis, per capita indicators, regional investment standard, regression analysis, influencing factors. Highlights: - correlation analysis of factors influencing investment activity in the regions is the basis for developing a methodology for improving mechanisms for stimulating investment activity; - the greatest correlation of investment activity is observed with the level of industrial production in the regions; - the primary reason for the significant difference in investment flows at the regional level and their concentration in several leading regions is the low level of industrial development of most subjects of the federation, which makes it relevant to focus the activities of the regional investment standard on activating investment in industry.

Email:	K_nonna@mail.ru
Сведения:	Nazik S. Kagramanyan, Stella V. Lukyantseva - State University of Management, Moscow, Russia

110

Khmeleva G.A., Skreblov N.I.

Spatial characteristics of transportation infrastructure provision in the context of global competitiveness of Russian regions

Abstract. The objective of this study is to identify spatial features of the region`s transport infrastructure provision in the current context of reorientation to East Asian markets. The set objective required solving a number of tasks: conductinga retrospective analysis of the transport network development by length, density, structure of transported cargo, and road surface condition; compiling a list of indicators and conductinga cluster analysis to identify the relationship between the state of the transport infrastructure and the implementation of the region`s export potential; conductinga cluster analysis based on the criteria of "industry -transport - trade" and identifying groups of regions with similar characteristics. It was revealed that the infrastructure factor is of decisive importance for the global competitiveness of the region in the system of criteria of "industry - transport - trade". Most of the regions form groups of neighbors, which is a consequence of the long-term policy of forming a transport network. In addition, long-term orientation toward Western markets has exacerbated the disproportions and discrepancies between the goals of reorientation to new markets and the current state of transport provision. The regions bordering Kazakhstan (the Samara, Saratov, Orenburg regions, the Altai Krai) are in the most advantageous position. Disproportions in transport provision lead to the fact that many regions will not be able to maintain the level of global competitiveness in the medium term. Developed regions of Western Russia will reduce their level of global competitiveness due to the lack of access to European markets, and the regions of Siberia and the Far East will not be able to increase it quickly enough, since, in addition to other factors, the problem of transport provision has worsened due to the increased load on the main transport arteries. Recommendations are presented for improving the level of balance in transport provision, which will contribute to increasing the level of competitiveness of the regions.
Keywords: spatial characteristics, transportation infrastructure provision, global competitiveness, region. Highlights: - it was revealed that transport infrastructure has a dominant influence in the system "industry -transport - trade"; - the current state of provision with transport infrastructure creates high risks not only for the traditionally more developed regions in terms of global competitiveness in the western part of the Russian Federation, but also for the regions of Siberia and the Far East; - in connection with the increased load on the East Asian direction, it is necessary to accelerate work on modernizing the existing and building new transport infrastructure in order to balance and bring it into line with the goals of reorientation to new markets.

Email:	galina.a.khmeleva@yandex.ru; morgrain@yandex.ru
Сведения:	Galina A. Khmeleva, Nikita I. Skreblov - Samara State University of Economics, Samara, Russia

121

FINANCE, MONEY CIRCULATION AND CREDIT

Sinichenko O.A., Zimovets A.V., Maksimenko T.S.

The difficulties of perception and the risks of introducing the digital ruble: a practice-oriented aspect

Abstract. The emergence of the digital currency of the Bank of Russia did not come as a surprise. The regulator announced this project more than four years ago, which was reflected in the report in October 2020. The national digital currency, or digital ruble, supplemented the current forms of money, which were previously represented by two categories - cash and non-cash. The regulator has repeatedly noted the need not only to introduce digital currency, but also to quickly adapt it amongthe population and businesses. Representatives of the Bank of Russia emphasized that the new form of national currency will both speed up payment turnover and make it simpler and much safer. Many advantages were also announced for businesses, including not only optimization of business processes, but also simplification of interaction with partners, reduction of costs in transactions and acquiring. More than a year ago, the digital ruble was launched into use in test mode, and was also enshrined in law in the relevant regulatory act. In this regard, the authors of this article conducted a study, the purpose of which was to determine the degree of understanding by the population and businesses of the meaning and features of using the digital ruble. The obtained results made it possible to conclude that potential consumers of the introduced national digital currency have rather limited and vague ideas about its potential and possibilities for effective use.
Keywords: regulator, digital ruble, cryptocurrency, commercial bank, digital currency, Bank of Russia, digitalization of the economy, cash and non-cash ruble. Highlights: - the introduction of the digital ruble has become an important stage in the Bank of Russia`s activities to ensure the stability and security of non-cash payments; - the process of consumer adaptation to the new national digital currency is gradual, experience in its use is accumulating, but the speed of its implementation is low; - a study was conducted to study public opinion on the prospects for using the digital ruble; - the potential for using the digital ruble has not been fully realized, it is necessary to amend the current legislation in order to secure the conduct of certain transactions only in digital currency, as well as to create certain conditions under which its use will be beneficial to consumers; - the development of additional motivational campaigns by the state and the regulator is required to increase the attractiveness of the national digital currency.

Email:	o.sinichenko@tmei.ru; shurikres@yandex.ru; maksim_sm2008@mail.ru
Сведения:	Olesya A. Sinichenko, Alexander V. Zimovets - Taganrog Institute of Management and Economics, Taganrog, Russia, Tatyana S. Maksimenko - Polytechnic Institute (branch) of the Don State Technical University in Taganrog, Taganrog, Russia

138

ECONOMIC THEORY

WORLD ECONOMY

REGIONAL AND SECTORAL ECONOMY

FINANCE, MONEY CIRCULATION AND CREDIT