Вестник Самарского государственного экономического университета

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

2025 №10 (252)

ECONOMIC THEORY

Budovich Yu.I.

Emancipation of labor as a fundamental trend in the development of labor relations

Abstract. This article reveals the content of the labor emancipation process currently taking place in the developed world and started several decades ago, proves the fundamental nature of this process, which suggests that it will lead to the victory of free (self-employed) labor over forced (wage) labor and further development of the former. In order to substantiate the sustainable nature of the labor emancipation process, the article provides its economic justification, shows that it is a manifestation in the field of labor relations of a more general process of liberation from capitalist exploitation of the industrial relations entire system that has been taking place in the world for several decades. It is shown that the present liberation of industrial relations, including labor relations, is a logical phase of the historical cycle of capitalist-self-employed transformation of industrial relations, which replaced the process of capitalist enslavement of industrial relations, including labor relations, that had been going on for several centuries. The article demonstrates that the current cycle of capitalist-self-employed transformation of industrial relations is a manifestation of a more general trend, namely, the general economic law, i.e. the law passing through the entire economic history, according to which the history of economic life is the whole sequence of such cycles.
Keywords: emancipation of labor, enslavement of labor, capitalist exploitation, industrial relations, resource supply, cycle of capitalist-self-employed transformation. Hightlightts: - the process of labor emancipation is the process of returning free labor functions to workers, taken from them by capitalists during the process of enslavement of labor, it proceeds both explicitly and implicitly -in the form of labor emancipation under a traditional employment contract; - the process of labor emancipation is beneficial to both capitalists and workers; - the process of labor emancipation is a manifestation in the sphere of labor relations of a more general process of liberation from capitalist exploitation of the industrial relations entire system, the latter is a phase of the whole cycle of capitalist-self-employed transformation of industrial relations, and the current cycle is a manifestation of a general economic law, according to which the economic history is the sequence of such cycles.

Email:	JBudovich@fa.ru
Сведения:	Yuliya I. Budovich - Financial University under the Government of the Russian Federation, Moscow, Russia

WORLD ECONOMY

Konashchuk A.V, Chernykh S.N.

Assessment of Russia`s chairmanship effectiveness in the Eurasian Economic Union

Abstract. The study evaluates the effectiveness of Russia`s chairmanship in the Eurasian Economic Union (EAEU) in 2023, which holds particular significance amid the transformation of the global economy and the growing role of integration associations. The relevance of the topic stems from the strategic importance of Russia`s leadership in the EAEU against the back-drop of sanctions pressure and the restructuring of international cooperation chains. The research problem lies in the absence of a comprehensive methodology for analyzing the outcomes of chairmanships, which limits the identification of integration potential and its adaptation to external challenges. The study aims at assessing the effectiveness of this chairmanship. The qualitative methods (interdisciplinary and institutional approaches) and quantitative tools, including graph theory and regression analysis, were applied to develop an evaluation model for the integration process. The key conclusion highlights the need for transforming initiatives into sustainable institutions by aligning political decisions with global trends. The practical recommendations include implementing differentiated approaches for small economies and establishing mechanisms for rapid strategy adjustments. The future research prospects involve adapting the model to assess chairmanships in other multilateral structures and exploring lagged effects of institutional reforms.
Keywords: Eurasian Economic Union (EAEU), Russia`s chairmanship, integration effectiveness, institutional reforms, macroeconomic indicators, network assessment model, regression analysis, adaptation to external challenges. Hightlightts: - the impact of Russia`s chairmanship in the EAEU on intraregional trade and de-dollarization was indirect, with oil price dynamics and exchange rate fluctuations playing a more significant role; - integration priorities exhibit uneven interconnections: digitalization and currency risk reduction serve as structural hubs, while food security initiatives remain peripheral; - administrative measures during the chairmanship (regulatory acts, forums) strengthened the EAEU`s institutional framework but require synchronization with global development strategies; - the sustainability of integration depends on converting short-term measures into structural reforms, including multi-level feedback mechanisms and technology transfer.

Email:	st080406@student.spbu.ru; chachaco1@yandex.ru
Сведения:	Aleksandra V. Konashchuk, Sergey N. Chernykh - Saint Petersburg State University, Saint Petersburg, Russia

REGIONAL AND SECTORAL ECONOMY

Byvshev V.I.

A study of the innovative infrastructure state for the development of service sector organizations in the Russian Federation regions under conditions of digital transformation

Abstract. The article examines the state of the innovative infrastructure for the development of service sector organizations in the context of digital transformation at the regional level by the analysis of publicly available indicators that characterize such infrastructure and environmental conditions in the regions. The methods of comparison and benchmarking are used for the analysis. As a result, it was noted that the state of the innovative infrastructure for the development of service sector organizations in the regions is highly differentiated. As a rule, the state of innovation infrastructure is better in those regions where the population is higher. Sometimes, the regions of the Russian Federation with low population are among the leading regions, but they are among the leaders in terms of gross regional product. In this regard, it can be concluded that the state of the innovative infrastructure for the development of service organizations in the context of digital transformation is highly dependent on human capital, to a lesser extent there is a dependence on the economic state of the region.
Keywords: innovative infrastructure, service sector, digital transformation, human capital, innovative development, innovation, regional development. Hightlightts: - a set of indicators was formed reflecting the state of the innovative infrastructure for the development of service sector organizations in the context of digital transformation at the regional level; - as a result of the analysis, the pattern was revealed between the state of the innovative infrastructure for the development of service sector organizations and the size of the population: the higher the population, the better the condition of such infrastructure; - it was determined that the volume of gross regional product in the region has less impact on the state of the innovative infrastructure for the development of service sector organizations than the population of the region; - to improve the state of the innovative infrastructure for the development of service sector organizations in the regions, it is necessary to develop human capital at the regional level.

Email:	vbyvshev@sfu-kras.ru
Сведения:	Vladimir I. Byvshev - Siberian Federal University, Krasnoyarsk, Russia

Gamddullaeva L.A., Morozov D.E.

Impact of housing infrastructure on socio-economic development of regions

Abstract. The article examines the impact of housing infrastructure on the socio-economic development of the regions of the Volga Federal District, analyzes theoretical approaches of domestic and foreign authors to the study of the housing environment as a key element of regional development. The subject of the study is the regularities and peculiarities of the impact of the level of housing infrastructure development on the main socio-economic indicators of the Volga Federal District regions, formalized by labor force size and other integral indicators characterizing population living standard and the sustainability of the regional economy. The goal is to determine the degree and nature of impact of the housing infrastructure state on the socioeconomic indicators of regional development in the Volga Federal District. The authors identified significant territorial differentiation in terms of housing infrastructure development in the Volga Federal District, which allowed to form three regional clusters: with a high, medium and low level of housing environment development. It was established that for a comprehensive improvement of socio-economic conditions, it is necessary to take into account territorial specifics and use a differentiated approach to housing policy.
Keywords: housing infrastructure, socio-economic development, regions of the Volga Federal District, cluster analysis, regression analysis, panel data, labor force size. Hightlightts: - the cluster analysis conducted by the authors allowed to identify three groups of regions in the Volga Federal District based on the level of housing infrastructure development: high, medium and low, indicating distinct territorial differentiation and lack of a unified spatial development strategy in the district; - regression analysis revealed a statistically significant but ambiguous relationship between the size of labor force and such housing infrastructure indicators as housing per capita (negative impact) and the volume of housing provided under contract of social rent (positive impact). This reflects the specifics of demograph-ically declining territories and emphasizes the importance of social support tools; - the results obtained indicate the need for applying a differentiated approach to regional housing policy, taking into account territorial characteristics, as well as further comprehensive study of the impact of the housing environment on migration processes, entrepreneurial activity, the introduction of digital technologies and the development of social infrastructure; - promising areas of research include the analysis for the role of housing infrastructure in the formation of labor mobility, the retention of innovative capital, increasing environmental and energy efficiency of housing, as well as introduction of more comprehensive assessment methods taking into account socio-psycho-logical factors and subjective assessments of the population.

Email:	gamidullaeva@gmail.com; danil_morozoff99@rambler.ru
Сведения:	Leyla A. Gamidullaeva, Danila E. Morozov - Penza State University, Penza, Russia

Savenkov L.D.

Modeling the principles of sustainable development of metallurgical enterprises based on the theory of fuzzy cognitive maps

Abstract. The article presents a methodology for assessing the strategic potential of metallurgical enterprises in the context of sustainable development based on the theory of fuzzy cognitive maps. The proposed approach allows to model the interrelationships between the key principles of sustainable development: environmental responsibility, innovation and technological upgrade, and social responsibility. The scenario modeling was carried out under various initial conditions, simulating moderate development, an innovative focus and an environmental crisis. The findings of the study demonstrate a high degree of self-organization and mutual reinforcement of the principles of sustainable development, regardless of the initial conditions, which indicates systemic stability of these components in the structure of strategic potential. The proposed techniques allow metallurgical enterprises to form effective development strategies under conditions of increasing environmental challenges and structural changes in the industry.
Keywords: strategic potential, sustainable development, metallurgical complex, fuzzy cognitive maps, environmental responsibility, social responsibility, innovation, scenario modeling, strategic planning, ESG standards. Highlights: - the use of fuzzy cognitive maps allows for effective modeling of the relationships between environmental responsibility, innovation, technological upgrade and social responsibility of metallurgical enterprises; - three scenarios (moderate development, innovative emphasis, environmental crisis) showed a high degree of self-organization and mutual reinforcement of the principles of sustainable development; - all the principles of sustainable development (environmental and social responsibility, innovation) demonstrate strong positive feedback and self-activation, regardless of the initial conditions; - the methodology based on cognitive maps helps metallurgical enterprises shape effective strategies under conditions of environmental and structural challenges.

Email:	leonidsavenkov89@yandex.ru
Сведения:	Leonid D. Savenkov - Togliatti State University, Togliatti, Russia

Smyslova O. Yu, Trutenko E. V.

Approaches to minimizing environmental risks in the implementation of large infrastructure projects

Abstract. The article discusses contemporary approaches to minimizing environmental risks arising from the implementation of large infrastructure projects in the Russian Federation. The relevance of the study is due to increasing anthropogenic impact on the environment, tightening environmental standards and the need for complying with the principles of sustainable development. The authors analyze key environmental risk management practices, including ESG strategies, application of Best Available Technologies (BAT), Project Life Cycle Assessment (LCA), and integration of environmental measures at all stages of design and construction. Particular attention is given to regulatory and legal regulation issues, in particular the lack of a clear definition and classification of environmental risks in the Russian legislation, which complicates their systemic management. The adapted international practices such as the IRIIS system, which combines global sustain-ability standards with national specifics, are being investigated. The technological innovations are being considered, including digitalization of environmental controls and implementation of negative emission solutions (DAC, BECCS). Development prospects are linked to further integration of green technologies, improving life cycle assessment methods and strengthening international cooperation on the basis of the new geopolitical reality. The findings of the study can be used to develop effective mechanisms to reduce the negative impact of infrastructure projects on the environment.
Keywords: environmental risks, infrastructure projects, impact minimization, sustainable development, ESG, green technologies, life cycle assessment, environmental legislation. Hightlightts: - Russian legislation does not contain a clear definition and classification of environmental risks, regulation is mainly limited to compensation payments; - adaptation of international practices to Russian conditions combines the principles of sustainable development with national specifics, which helps to reduce environmental damage during the implementation of infrastructure projects; - promising directions for the development of environmental risk management are associated with the introduction of digital technologies, as well as innovative solutions; - successful infrastructure projects achieve a balance between economic efficiency and environmental sustainability by integrating environmental measures at all stages of the project life cycle.

Email:	savenkova-olga@mail.ru; evtrutenko@yandex.ru
Сведения:	Olga Yu. Smyslova, Elena V. Trutenko - Financial University under the Government of the Russian Federation, Moscow, Russia

UskovA.S.

Opportunities, constraints and directions of IT specialist labor market development in the Samara region

Abstract. The relevance of the research topic is due to the fact that in the context of the rapid development of the digital economy and increasing demand for IT specialists, there is an increasing need to study the trends of the labor market in this field. The Samara Region, being one of the key regions in Russia, faces constraints in the process of providing its enterprises with qualified personnel in the field of information technology. The problem disclosed in this article is discrepancy between supply of IT specialists in the labor market and growing demand for them, leading to personnel shortage, which negatively affects the development of the digital infrastructure and the economy of the region. The purpose of the study is to analyze the current state of IT specialist labor market in the Samara region, identify the main opportunities and constraints, and develop recommendations for improving the situation. The methods used in the study are: analysis for statistical data and reports; systematization of the regional and federal IT support programs; systematization of solutions to the identified problems. The author concludes that the key problems of forming the IT specialist labor market in the Samara region include competition for personnel, economic and political instability, brain drain, the need for continuous knowledge updating, and infrastructural constraints. To solve them, it is necessary to bring educational programs in line with professional standards, focus curricula on the formation of relevant knowledge and skills required in the labor market, organize internships and work placements on the territory of IT companies to gain practical experience, conduct certification of students and young professionals for compliance with professional standards in communications, information and communication technologies, developed by the Ministry of Labor and Social Protection of the Russian Federation. The proposed measures will eliminate problems in the labor market of IT specialists in the Samara region, provide the region with qualified personnel and will contribute to the development of the digital economy.
Keywords: labor market, Samara region, professional standards, curricula, digital economy, educational institutions, personnel shortage, infrastructure. Hightlightts: - IT specialists are in great demand not only in IT companies - nowadays no business can operate without their skills and competencies, companies are forced to compete with each other to attract and retain such employees; - the Samara region has great potential for forming a developed labor market for IT specialists due to the active support from the authorities and significant investments in infrastructure and education, but for its implementation it is necessary to take into account and overcome existing constraints and challenges; - bringing educational programs in line with professional standards will contribute to training qualified specialists.

Email:	usckov.andrei@yandex.ru
Сведения:	Andrey S. Uskov - Samara State University of Economics, Samara, Russia

Farkhutdinova A.U.

The role of institutions of development in ensuring financial self-sufficiency of the Volga Federal District regions

Abstract. The existing interregional differentiation, lack of own financial and investment funds, the need for improving efficiency of their use determines the assessment of self-sufficiency of economic systems and the application of their results to the practice of territorial regulation. It is substantiated that one of the tools for increasing self-sufficiency of the regional economy are institutions of development. The aim of the work is to determine the role of institutions of development in ensuring self-sufficiency of regional economies and developing practical recommendations for its improvement. The role of federal institutions of development in increasing the financial self-sufficiency of the regions of the Volga Federal District was studied. It is shown that the analysis for the activities of institutions of development is based on the closed system of their accountability, the absence of legislatively established principles of openness and transparency of the structure functioning results, which limits the ability of the state and society to assess and control effectiveness. It has been revealed that large investment projects of strategic importance receive support from federal, regional institutions of development and other public partners operating in the market for a long time, which leads to duplication of functions performed by these structures and insufficient specification of their areas of responsibility in ensuring the territory`s economy development. The need for institutions of development to take into account the unmet needs of the regions with different levels of self-sufficiency in products or services, as well as the potential possible volume of their production in the territory before making a decision on implementation of investment projects, which will increase validity of their support, is substantiated. The need for optimal distribution of power of federal and regional institutions of development in order to increase investment attractiveness of the project localization territory and increase self-sufficiency of its economy is indicated. The findings obtained in the framework of the study are the initial groundwork for the development of practical recommendations for increasing self-sufficiency of the Volga Federal District region economy.
Keywords: self-sufficiency, investments, VEB.RF, Industrial Development Fund, project portfolio, unmet regional needs for products or services, institutions of development. Hightlightts: - interregional differentiation and low capacity of the domestic financial market to attract investment necessitate increasing efficiency of using a limited amount of funds and self-sufficiency of economic systems; - institutions of development act as a tool for creating a favorable investment environment, dynamic and effective development of the economy, increasing self-sufficiency of territories; - analysis for the project portfolio of institutions of development revealed an increase in support quantity, including due to attraction of extra-budgetary funds, as well as changes in the sectoral structure of projects; - uneven distribution of funds of institutions of development among the subjects of the Volga Federal District. Investors provide financial and investment support not only to economically effective, but also to reliable projects with a sufficiently high level of efficiency in the territories with a favorable investment climate.

Email:	aliya_2186@bk.ru
Сведения:	Aliya U. Farkhutdinova - Institute of Social and Economic Research of the Ufa Federal Research Center of the Russian Academy of Sciences, Ufa, Russia

Fedorov D.S., Tarasova T.M.

Human factor in accounting information systems: classification of risk zones

Abstract. The article examines aspects of the impact of the human factor on accounting information systems (AIS) operation in the context of the modern economy. The authors propose a classification of risk zones associated with the influence of the human factor, which includes external and internal levels of impact. The external level covers regulatory and legislative frameworks as well as change management policy, while the internal level includes employees` professional competence, managerial culture, cognitive constraints, and interaction with technologies used within AIS. Special attention is given to the role of errors that occur during the implementation of accounting procedures, along with their causes - including insufficient staff qualifications, emotional burnout among accounting personnel, ineffective corporate culture, and technological barriers. Proposals are presented for minimizing the negative impact of the human factor by implementing early warning systems, forming cross-functional teams, improving employees` psychological well-being, and regular audits of the accounting information system. The article demonstrates an interdisciplinary approach to studying the issue, based on socio-psychological systems and institutional concepts. The findings of the study can be applied by economic entities to enhance the reliability and efficiency of accounting processes within information systems.
Keywords: human factor, accounting information system, risk, internal control, accounting. Hightlightts: - the human factor is considered as a complex phenomenon affecting accuracy and reliability of accounting processes. This phenomenon manifests both at the external level - by legislation and regulations, and at the internal level - by the professional level of employees, management culture and interaction with technology; - the author`s two-level classification of the human factor impact is proposed: the external level is regulatory regulation, policy of change, lack of feedback from the legislator; the internal level is the professionalism of accounting staff, cognitive constraints, managerial culture, interaction with technology; - practical measures are proposed to minimize the negative impact of the human factor: the introduction of early warning systems based on neural network models, the formation of cross-functional teams, improving psychological comfort of employees, as well as regular audits of accounting information systems.

Email:	dmitry.sseu@yandex.ru; Tarasova2004@inbox.ru
Сведения:	Dmitry S. Fedorov, Tatiana M. Tarasova - Samara State University of Economics, Samara, Russia

102

Shvetsova I.N.

Strategies for financial support of socio-economic development of the constituent entities of the Russian Federation: from theory to practice

Abstract. The constituent entities of the Russian Federation, in the context of a changing development model, are facing new challenges associated with a high need for financial resources to open new production facilities, modernize infrastructure and improve the population quality of life. The purpose of the article is to develop a concept of a financial strategy for the constituent entities of the Russian Federation that integrates modern financial instruments and mechanisms to ensure the implementation of regional socio-economic development strategies. The study uses a set of methods, including theoretical analysis, qualitative and quantitative methods, as well as tools for statistical analysis for financial data. The author`s methodology for qualitative and quantitative assessment of financial support for the implementation of regional development strategies is proposed, including a scale of qualitative and quantitative assessment, tested for the constituent entities of the Russian Federation. The assessment of the approaches of the constituent entities of the Russian Federation to making strategic financial decisions has been carried out. The findings of the study can be used by the state authorities of the constituent entities of the Russian Federation in development, updating and implementation of regional development strategies, organizations of the non-financial sector of economy in the assessment and selection of financing strategies for investment projects, as well as educational organizations of higher education in updating educational and methodological support for curricula on economics. Keywordds: constituent entities of the Russian Federation, socio-economic development, regional development strategies, sources of financial resources, budget revenues and expenditures, investments, financial support strategies, financial strategies. Highlights: - the author`s methodology for qualitative and quantitative assessment of financial support for implementing regional development strategies was developed, including the analysis for complexity of the financial instruments, the level of diversifying financing sources and detailing financial mechanisms; - the analysis revealed a significant differentiation in approaches to the formation of financial support strategies (financial strategies) of the constituent entities of the Russian Federation. In particular, progressive approaches are observed in the constituent entities of the Central and Far Eastern Federal Districts, where innovation and technology development was emphasized. The constituent entities of the Southern and North Caucasus Federal Districts pursue strategies focused on government support, reflecting their desire to use the resources and programs provided by the state to stimulate economic growth; - high volatility of key financial and economic indicators of the socio-economic development of the constituent entities of the Russian Federation was established and the transition from reactive to proactive financial strategies was determined; - the measures were proposed to improve the regulatory framework, including detailing financial mechanisms in the strategies of socio-economic development of the constituent entities of the Russian Federation and increasing the transparency of their implementation.

Email:	irshv@mail.ru
Сведения:	Irina N. Shvetsova - Institute of Economics and Management of the Syktyvkar State University named after Pitirim Sorokin, Syktyvkar, Russia

112

MANAGEMENT AND BUSINESS MANAGEMENT

BikbaevD.V., Shushunova T.N., Shpilkina T.A.

Development of digital business ecosystems as a factor in transformation of corporate strategies and human resource management

Abstract. The article is devoted to the study of the impact of digital business ecosystems on corporate strategies and HR management in the context of digital transformation. A comprehensive analysis for ecosystem approach impact on corporate strategies and HR management is conducted. Particular attention is paid to changes in companies` business models and adaptation of HR processes within the framework of the business ecosystem approach. The main strategies for the development of business ecosystems are considered: Status Quo, ensuring scale, differentiation and focusing. Using the cases of Sber, Yandex, and MTS, the key types of strategies for the development of digital business ecosystems are identified. The article analyzes the influence of business ecosystems on corporate management and emphasizes the importance of flexibility in HR strategies and the formation of new employee competencies to maintain competitiveness. The processes of transformation of the HR function are considered: the transition to flexible forms of selection, adaptation and training of personnel, the formation of internal educational business ecosystems and the development of both digital and flexible employee competencies. It is shown that successful implementation of a business ecosystem strategy is impossible without rethinking the role of HR as a strategic partner of business. As a result, HR management becomes an integral element of the business ecosystem, ensuring its flexibility, scalability and sustainable development. The findings obtained can be useful for companies seeking to adapt to the realities of the digital economy in order to build sustainable growth models based on a business ecosystem approach. Keywordds: digital business ecosystems, corporate strategies, human resource management, flexible competencies, digital platforms, network effects, platform model, value co-creation, business agility, customer focus. Hightlightts: - digital business ecosystems represent a new stage of technological development, uniting organizations, users and digital platforms for value co-creation, as confirmed by their significant contribution to global GDP; - corporate strategies are evolving in the context of digital business transformation, moving from traditional models to business ecosystem ones, which allows companies to expand the range of their services, strengthen customer focus and use network effects; - human resources (HR) management is significantly transformed in business ecosystem companies, adapting to the new requirements of the digital economy by proactive recruitment, continuous training and integration of digital technologies in order to improve business efficiency.

Email:	dimab2002@mail.ru; serg-1167@yandex.ru; luk-72@mail.ru
Сведения:	Dmitry V. Bikbaev, Tatyana N. Shushunova, Tatyana A. Shpilkina - D.I. Mendeleev Russian University of Chemical Technology, Moscow, Russia

124

FINANCE, MONEY CIRCULATION AND CREDIT

UgolnovD.V., Khvostenko O.A.

Inflation expectations and their role in maintaining price stability by the Bank of Russia

Abstract. The monetary policy in Russia is going through a crisis period due to overheated demand and increased inflationary expectations among the population and businesses. In this regard, it is particularly important to identify areas that can improve the effectiveness of the Bank of Russia`s efforts to achieve price stability. The purpose of this study is to identify the essence of inflationary expectations as a financial category and determine their role in returning inflation to its target level. To achieve this goal, the authors used theoretical and empirical methods of scientific inquiry, as well as analyzed the works of financial researchers and statistical data from the Bank of Russia. Based on the results of the analysis, it was established that inflation expectations are a specific financial category that contains a set of subjective behavioral characteristics of economic agents regarding their perception and forecasts of the price level. The Bank of Russia uses inflation expectations to draw conclusions about the effectiveness of its monetary policy measures. The Central Bank influences the expectations of economic agents using a non-traditional tool: communications and communication policy, which aims at explaining the logic of decisions to change the key interest rate, increasing transparency in the Bank of Russia`s operations, and signaling the future direction of monetary policy through inflation expectations. Based on the analysis for inflation dynamics and inflation expectations, the authors concluded that at the current stage, the key rate and communications do not fully affect price dynamics. The authors see the solution to this problem in developing communication policies and expanding opportunities for financial education for citizens and businesses.
Keywords: inflation, inflation expectations, inflation targeting, monetary policy, monetary transmission, non-standard instruments, communications of the Bank of Russia, financial literacy. Highlights: - the significance of inflation expectations in the implementation of monetary policy and their impact on achieving the goal of price stability by the Bank of Russia were determined; - the essence of communications and the Bank of Russia`s communication policy was revealed during the transmission of decisions on the key interest rate and the operation of the monetary policy transmission mechanism; - the dynamics of inflation processes in Russia was presented, and the main challenges in keeping inflation close to the target value by the Bank of Russia were identified; - the development of the Bank of Russia`s communication policy was proposed to enhance the impact of monetary policy on inflation expectations of the population and businesses.

Email:	danila.ugolnov@yandex.ru; olegkhvostenko@yandex.ru
Сведения:	Danila V. Ugolnov, Oleg A. Khvostenko - Samara State University of Economics, Samara, Russia

136

ECONOMIC THEORY

WORLD ECONOMY

REGIONAL AND SECTORAL ECONOMY

MANAGEMENT AND BUSINESS MANAGEMENT

FINANCE, MONEY CIRCULATION AND CREDIT