DOI: 10.33917/mic-3.110.2023.12-23

The paper examines the issue of determining the innovative potential of the economy at various levels of its organization – firms, branches of the macrosystem. The purpose of the study is to summarize the main methods for measuring and forming innovative potential, as the most important condition for measuring innovative development. The methodology consists of the theory of innovative and technological development, comparative analysis, methods for measuring innovative potential, generalizations and taxonomy. The general result of the analysis is the substantiation of the position that it is difficult to imagine the growth of the innovative potential of the economy outside the effective interaction of the production, scientific and technical and management systems. Methods for measuring innovative potential according to various criteria are typified within the framework of the resource and effective basic approaches. The results are of theoretical and methodological significance, since they demonstrate what negative and positive characteristics have absolute, relative and integral, as well as rating indicators for assessing innovative potential. The author also gives an updated definition of innovation potential within the framework of the resource approach as the presence of unused estimated resources that provide or potentially affect the innovation process. As a result, a conclusion is made about the ambiguity of assessing the innovative potential and the limitations of each of the approaches developed so far. This outlines the prospect for further research on the theory of socio-economic potential, where innovation potential can be considered as an integral part.

References:

1.Babkin A.V., Zdolnikova S.V. Methodology for assessing the innovative potential of integrated industrial structures. Economics and Management. 2017;8 (142):54-66. (In Russ.).

2. Glazunova V.V. Modern problems in assessing the innovative potential of organizations. Internet journal «NAUKOVEDENIE». 2016;8(1). (In Russ.). URL: http://naukovedenie.ru/PDF/78EVN116.pdf

3. Divaeva E.A. Fundamentals of assessing the level of innovative potential and assessing its level: Monograph. M.: Paleotype, 2007. 144 p.

4. Zhits G.I. Abilities for the implementation of opportunities: continuation of discussions about the methodology for assessing the innovative potential of socio-economic systems of various levels of complexity. Innovations. 2008;8 (118): 75-78. (In Russ.).

5. Kuzin N.A. Classification of innovations in the modern economy. Eurasian Union of Scientists. 2015;9-1 (18):56-60. (In Russ.).

6. Maskaikin E.P., Artser T.V. Innovative potential of the region: essence, structure, assessment methodology and development directions. Bulletin of the South Ural State University. 2009;21 (154):47-53. (In Russ.).

7. Muller V.K. English-Russian dictionary. M.: State publishing house of foreign and national dictionaries, 1963. 1192 p.

8. Ozhegov S.I. Dictionary of the Russian language / edited by Shvedova N.Yu. M.: Russian language, 1987. 798 p.

DOI: 10.33917/mic-3.110.2023.5-11

The world economic system is analyzed, within which it fixes only two modes of production: capitalist and socialist. Based on a systematic religious and philosophical approach, the author substantiates that Western capitalism itself is divided into two types: Anglo-Saxon and Catholic – Western European. The study of the multi-structured society of the East, based on the hierarchy and subordination of many structures, showed that in such a society the domination of one structure cannot be established: capitalist or socialist. We are talking about a special form of communal, collectivist «Eastern capitalism». This is the third way of social development.

References:

1. Soloviev V.S. Readings on God-manhood. Spiritual foundations of life. justification for goodness. Minsk: Harvest, 1999. 742 p.

2. Marx K., Engels F., Lenin V.I. On the communist social formation. in 4 vols., Vol. 2. From the works of K. Marx and F Engels 1857-1985. Book. 2. M.: Politizdat, 1988. 597 p.

3. Marx K. Economic Manuscripts 1857–1861. 495 p.

4. Kardelj Edward. Toward a new type of socialist democracy. Beograd: Socialist thought and practice, 1976. 48 p.

5. Radical reforms of General Juan Velasco Alvarado. Internet portal: World of Indians, 2014. URL: http://www.indiansworld.org/Latin/independent_peru21.html

6. Grayson J. K. Jr., O’Dell K. American Management at the Threshold of the 21st Century: Translated from English. M.: Economics, 1991. 319 p.

7. Soloviev V.S. Criticism of abstract beginnings // Solovyov V. Philosophical beginning of integral knowledge. Minsk: Harvest, 1999. 575 p.

8. Baluev B.P. Disputes about the fate of Russia: N. Ya Danilevsky and his book «Russia and Europe». Tver: BULAT Publishing House, 2001. 418 p.

9. Inozemtsev V.L. A Divided Civilization: A Scientific Edition. M.: «Academia» – «Science», 1999. 282 p.

10. Delyagin M. Augean stables: Look into the Pension Fund. Tomorrow. October, 2021. No. 42.

11. Oleinikov A.A. Issues of the unity of civilizational values and principles of life with the organizational principles of managing the economy and business of Russia as Russian Eurasia (To the question of the causes and ways out of the systemic crisis): Abstracts. Development of modern Russia: problems of reproduction and creation: a collection of scientific papers / ed. R.M. Nureeva, M.L. Alpidovskaya. M.: Financial University, 2015. 2242 p. (electronic edition on CD). (In Russ.).

12. Berdyaev N.A. Diary of a Philosopher (The dispute about the monarchy, about the bourgeoisie and about freedom of thought). PATH: Organ of Russian religious thought / Under. ed. N.A. Berdyaev. 1926. No. 4. June-July. (In Russ.).

DOI: 10.33917/mic-2.109.2023.5-18

The article outlines the features of various national systems of strategic planning and management and approaches to improving such a system in the context of the formation of a new model of management of science and technology in Russia; the problems of implementation of the Law №. 172-FZ and proposals for improving the regulatory and legal support of strategic planning and management in the field of science and technology are formulated.

References:

1. Glazyev S. Yu. Theoretical foundations of strategic planning and management. Innovations. 2020;2(256):14-23. (In Russ.).

2. Komkov N.I. Development of program-target management in the USSR and Russia. URL: https://cyberleninka.ru/article/n/razvitie-programmno-tselevogo-upravleniya-v-sssr-i-rossii

3. Federal Law of June 28, 2014 No. 172-FZ «On Strategic Planning in the Russian Federation». – Access from the information and legal system «Garant».

4.Federal Law of 20.07.1995 No. 115-FZ «On State Forecasting and Programs of Socio-Economic Development of the Russian Federation» (with amendments. dated 09.07.1999). – Access from the information and legal system «Garant».

5.Decree of the President of the Russian Federation No. 144 of February 15, 2021 «On some issues of the Presidential Council for Science and Education».– Access from the information and legal system «Garant».

6.Decree of the President of the Russian Federation dated March 15, 2021 No. 143 «On measures to improve the effectiveness of the state scientific and technical policy».– Access from the information and legal system «Garant».

7.Decree of the President of the Russian Federation of December 1, 2016 No. 642 «On the Strategy for Scientific and Technological Development of the Russian Federation»

8.Lenchuk E. B., Filatov V. I. Strategic planning – the way to sustainable development of the Russian economy. Economic and social changes: facts, trends, forecast. 2018;11(4):35–47. (In Russ.).

9.Smirnova O. O., Bocharova L. K., Belyaevskaya-Plotnik L. A., Bogdanova Y. N. Conceptual approaches to the formation of architectural documents of strategic planning in Russia. MIR (Modernization. Innovations. Development). 2019;10(4):440–456. (In Russ.).

10.Lenchuk E. B. Strategic planning in Russia: problems and ways of solving. INNOVATIONS. 2020;2(256):24–28. (In Russ.).

11.Decree of the President of the Russian Federation dated July 2, 2021 no. 400 «On the National Security Strategy of the Russian Federation». – Access from the information and legal system «Garant».

12.Plan for the preparation of regulatory legal acts of the Government of the Russian Federation (documents) necessary for the implementation of the norms of the Federal Law of June 28, 2014 No. 172-FZ «On Strategic Planning in the Russian Federation» (approved on September 26, 2014 N 6424p-P13). – Access from the information and legal system «Garant».

13. Decree of the President of the Russian Federation dated November 8, 2021 No. 633 «On Approval of the Fundamentals of State Policy in the Field of Strategic Planning in the Russian Federation». – Access from the information and legal system «Garant».

DOI: 10.33917/mic-2.109.2023.19-33

The problem of ensuring technological sovereignty in the Russian economy is considered. The purpose of the study is to identify the features of technological development and assess technological sovereignty at the sectoral and macroeconomic levels of management. The methodology is the theory of technological change, comparative and empirical, structural analysis. The general result of applying these approaches is proposals at the macroeconomic level and for sectoral policy that contribute to increasing the technological independence of the state. Ensuring technological sovereignty comes down not only to the substitution of technology imports, but, more importantly, to the resuscitation of the domestic technological base. Particular emphasis should be placed on overcoming the existing and chronic problems of the technological development of the Russian economy. These include: the pseudo effect of technological dualism, the low sensitivity of manufacturability to investment in new technologies, the low share of the knowledge economy, and the inefficient structure of technological modes. Increasing the rate of accumulation of fixed capital and bringing it to the rate of savings is a false goal, since the structure of the distribution of investments, and not their share, that is, the volume, is important for long-term growth. Measures for financial independence proposed at the macro level will determine the solution of the problem of technological sovereignty, but the proposed recipes are very streamlined, not specific and do not solve the problem of sovereign financial development, since the placement of financial resources in external instruments, the application of the previous targeting policy and the budget rule remain, as well as the monetary policy of curbing growth. These conditions will hinder the solution of the problem of ensuring technological sovereignty in Russia.

References:

1. Glazyev S.Yu. Nanotechnologies as a key factor in the new technological order in the economy / Ed. Academician of the Russian Academy of Sciences S.Yu. Glazyev and Professor V.V. Kharitonov. M.: Trovant, 2009. 304 p.

2. Lvov D.S., Glaziev S.Yu. Theoretical and applied aspects of STP management. Economics and Mathematical Methods. 1986;5:793–804. (In Russ.).

3. Mensch G. Technological stalemate: innovations overcome depression. M.: Economics, 2001. 211 p.

4. Perez K. Technological revolutions and financial capital. Dynamics of bubbles and periods of prosperity. M.: Delo, 2011. 232 p.

5. Sukharev O.S. Economics of technological development. M.: Finance and statistics, 2008. 480 p.

6. Sukharev O.S. Economics of industry, technology and intellectual firms. M.: Lenand, 2022. 304 p.

7. Antonelli C., Gehringer A. Technological change, rent and income inequalities: A Schumpeterian approach. Technological Forecasting & Social Change. 2017;115:85–98.

8. Breschi S., Malerba F., Orsenigo L. Technological Regimes and Schumpeterian Patterns of Innovation. The Economic Journal. 2000;110 (463):388–410.

DOI: 10.33917/mic-2.109.2023.34-47

The article discusses some aspects of the analysis of the level of information development of countries using digital development indices. A methodological approach to assessing the level of digitalization is proposed. The emphasis is placed on assessing the level and dynamics of indicators characterizing the technological development of countries in the field of digitalization, using the example of the international global communications index GCI, developed by Huawei. Within the framework of the study, the values of the GCI index, technological indicators of digitalization included in the GCI index, the rank of the country according to the GCI index and the values of the Gross Domestic Product (GDP) per capita for the period 2015-2020 were considered. An interactive information panel was developed to visually represent the dynamics of data and the implementation of comparative analysis. Russian software, the Loginom analytical platform, was used for data processing and analysis.

References:

1. Konstantinova L. A., Kramarenko I. V. Analysis of approaches to the assessment of digital inequality in education systems. Microeconomics. 2020;1(90):32-49. (In Russ.).

2. Ranking of countries by the level of network readiness. NRI index data and its components. URL: https://nonews.co/directory/lists/countries/networked-readiness-index

3. GCI index data and its components. URL: https://www.huawei.com/minisite/gci/en/country-rankings.html

4. World Bank data on GDP per capita. URL: https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?locale=ru&locations=null

5. Kolokolov A. Make the data say: How to make a business dashboard in Excel. Data Visualization Guide. Moscow: Alpina PRO Publishing House, 2023. 244 p. ISBN 978-5-206-00079-5. (In Russ.).

6. Paklin N. B. Business analytics: from data to knowledge [Text]: textbook / N. Paklin, V. Oreshkov. 2nd ed., supplement and revision. St. Petersburg, 2010. -701 p.: ill., table.; ISBN 978-5-49807-751-2. (In Russ.).

7. Pisareva O. M. Methods of forecasting the development of socio-economic systems. Textbook. M.: Publishing house «Higher School», 2007. (In Russ.).

8. The official website of the analytical platform LOGINOM. URL: https://loginom.ru /?ysclid=lfdj6pjmme274123219

9. Zolov O. N. Problems of using GDP as an indicator of the effectiveness of assessing socio-economic development / O. N. Zolov, N. N. Matnenko // Issues of economics and management. 2019;5(21):1-6. URL: https://moluch.ru/th/5/archive/138/4418 / (In Russ.).

10. Dronov V. N., Makhrova O. N. Broadband Internet access as a factor of socio-economic development // Economics and management. 2016;9(131). URL: https://cyberleninka.ru/article/n/shirokopolosnyy-dostup-v-internet-kak-faktor-sotsialno-ekonomicheskogo-razvitiya (In Russ.).

11. Measuring the Information Society: Report 2015. URL: http://www.itu.int/dms_pub/itu-d/opb/ind/D-IND-ICTOI-2015-SUMPDF-R.pdf

12. Kaledin P. ITU: measuring the information society // The first mile. 2016;5(58):38-44. (In Russ.).

DOI: 10.33917/mic-1.108.2023.5-22

The article summarizes the experience of solving the problem of choosing priority directions for the development of science, technology and engineering in the USSR and Russia; approaches to the choice of these priorities in the context of the formation of a new model of management of the sphere of science and technology are discussed; a procedure for selecting priorities is proposed, focused on harmonizing the goals of the development of science and technology with the national development goals of the state.

References:

1. Forecast of scientific and technological development of the Russian Federation for the period up to 2030 (approved by the Government of the Russian Federation). URL: consultant.ru›document/cons_doc_LAW_157978/

2. Makarov V.L., Lvov D.S. et al. Priority Directions of Scientific and Technological Progress of the USSR and Ways of Their Implementation (Preprint). M.: TsEMI AN SSSR, 1991. 65 p.

3. Golichenko O.G., Obolenskaya L.V., Zudina A.B. A model for choosing the priorities of science and technology and critical technologies // Science in Russia: current state and strategy of revival. M.: Logos, 2004. Ser.: Scientific reports. Issue. 2.

4. Innovative priorities of the state / Ed. A. A. Dynkin and N. I. Ivanova. M.: Nauka, 2005. 274 p.

5. Mindeli L.E., Ostapyuk S.F., Fetisov V.P. Forecast and priorities of fundamental science in Russia. M.: IPRAN RAN, 2019. 312 p.

6. Shepelev G.V. On the priorities of scientific and technological development // Management of science: theory and practice. 2020;2(3)16-36. (In Russ.).

7. Federal Law of August 23, 1996 No. 127-FZ «On Science and State Scientific and Technical Policy». – Access from the information and legal system «Garant».

8. Decree of the President of the Russian Federation dated July 7, 2011 No. 899 «On Approval of Priority Directions for the Development of Science, Technology and Engineering in the Russian Federation and the List of Critical Technologies of the Russian Federation». – Access from the information and legal system «Garant».

9. Decree of the President of the Russian Federation of May 7, 2012 No. 599 «On measures to implement state policy in the field of education and science». – Access from the information and legal system «Garant».

10. The State Program of the Russian Federation «Development of Science and Technology» (approved by Decree of the Government of the Russian Federation of December 20, 2012 No. 2433-r). – Access from the information and legal system «Garant».

11. The Program of Fundamental Scientific Research of State Academies of Sciences for 2013–2020 (approved by Decree of the Government of the Russian Federation of December 3, 2012 No. 2237-r). – Access from the information and legal system «Garant».

12. On decisions following the meeting of the Presidium of the Council under the President of the Russian Federation for Strategic Development and Priority Projects (Minutes of the meeting of the Presidium of the Council under the President of the Russian Federation for Strategic Development and Priority Projects dated October 1, 2016 No. 6). URL: http://government.ru/orders/selection/401/24826/

DOI: 10.33917/mic-6.107.2022.5-18

The article proposes a set of organizational, methodological, legal and managerial measures for the development of such structural elements of the model of strategic management in the field of science and technology as forecasting scientific research and development, selecting thematic priorities for the development of scientific research and development, monitoring the activities of management entities in the field of science and technology, examination of the results of scientific and scientific-technical activities.

References:

1. Decree of the President of the Russian Federation of June 13, 1996 No. 884 (as amended on February 23, 2006) «On the Doctrine of the Development of Russian Science». – Access from the information and legal system «Garant».

2. Decree of the President of the Russian Federation of December 1, 2016 No. 642 «Strategy of scientific and technological development of the Russian Federation». – Access from the information and legal system «Garant».

3. Decree of the President of the Russian Federation of July 2, 2021 No. 400 «On the National Security Strategy of the Russian Federation». – Access from the information and legal system «Garant».

4. Federal Law of August 23, 1996 No. 127-FZ «On Science and State Scientific and Technical Policy». – Access from the information and legal system «Garant».

5. Decree of the President of the Russian Federation of March 15, 2021 No. 143 «On measures to improve the efficiency of the state scientific and technical policy». – Access from the information and legal system «Garant».

6. Decree of the President of the Russian Federation of March 15, 2021 No. 144 «On Certain Issues of the Council under the President of the Russian Federation for Science and Education». – Access from the information and legal system «Garant».

7. Federal Law of July 20, 1995 No. 115-FZ «On State Forecasting and Programs for the Socio-Economic Development of the Russian Federation». – Access from the information and legal system «Garant».

8. Federal Law of June 28, 2014 No. 172-FZ «On Strategic Planning in the Russian Federation». – Access from the information and legal system «Garant».

9. Decree of the President of the Russian Federation of December 1, 2016 No. 642 «On the strategy of scientific and technological development in the Russian Federation». – Access from the information and legal system «Garant».

10. Decree of the President of the Russian Federation of March 15, 2021 No. 143 «On measures to improve the efficiency of the state scientific and technical policy». – Access from the information and legal system «Garant».

11. Decree of the President of the Russian Federation of November 8, 2021 No. 633 «On approval of the foundations of state policy in the field of strategic planning in the Russian Federation». – Access from the information and legal system «Garant».

12. Modernization and economic security of Russia: T. 2 / Ed. acad. N.Ya. Petrakov. St. Petersburg: Nestor-Istoriya, 2011. 516 p.

DOI: 10.33917/mic-5.106.2022.5-25

The purpose of this work is to prepare proposals for the further development and practical use in the Russian Federation of the methodology and tools of program-targeted management. The following issues are resolved in the article: 1) as a result of the analysis of domestic and foreign scientific sources, as well as regulatory documents of the Russian Federation in the field of strategic planning, its main shortcomings are identified and the main directions for further development are formulated; 2) a methodical approach is proposed for the development of state programs for the economic and social development of the country based on the method of analysis of hierarchies; 3) an example of the practical use of this method for solving the problem of substantiating the optimal size of import substitution of foreign components for the production of a short-haul narrow-body passenger aircraft Super Jet 100 is given.

References:

1. Indicative planning and implementation of regional policy / ed. A.B. Levinthal. M.: Finance and statistics, 2007. 326 p. (In Russ.).

2. Demidova L.G., Klimov S.M., Shcherbakovsky G.Z., Antonov A.G. Indicative planning: theory and ways of improvement. St. Petersburg: Knowledge, 2000. 230 p. (In Russ.).

3. Afonina I.A., Ivanova O.D., Panasevich O.E. About the conference “Strategic planning in the face of increasing external threats: the need to mobilize internal resources for the development of Russia” //Microeconomics. 2014;6:138-144. (In Russ.).

4. Buzgalin A. V., Kolganov A. I. Revival of planning, lessons (political and economic discourse // Problems of the theory of management practice. 2016;1:8-18. (In Russ.).

5. Buchwald E.M. Strategic unfinished construction; is the result visible? // STAGE. Economic theory, analysis, practice. 2017;6:33-47. (In Russ.).

6. Gaganov A.A. Does Russia have strategic planning? URL: http: rusrand. ru/analytics/est-li-v-rossii-strategicheskoe-planirovanie

7. Mishin Yu.V., Pisareva O.M., Mishin A.Yu., Alekseev V.A. Normative base of strategic planning: fundamentals, unresolved problems and directions of development. Monograph. Moscow: Nauka Publishing House, 2019. 404 p. (In Russ.).

8. Smirnova O.O. Paradigms and parallels. On the paradigm shift of a unipolar world in strategic planning // MIR (Modernization. Innovations. Development. 2014;3(19):107-110. (In Russ.).

9. Saaty T.L. Making decisions. Method of analysis of hierarchies. Moscow: Radio and communication, 1993. 241 p. (In Russ.).

10. Saaty T., Kerns K. Analytical planning. Organization of systems. M: Radio and communication, 1991. 224 p. (In Russ.).

11. Kartvelishvili V.M., Lebedyuk E.A. Hierarchy Analysis Method: Criteria and Practice. Bulletin of the Plekhanov Russian University of Economics. 2013;6:1-16. (In Russ.).

12. Romanov V.N. System analysis for engineers. St. Petersburg: SZGZTU, 2006. 186 p. (In Russ.).

13. Beshelev S.D., Gurvich F.G. Expert assessments. M.: Nauka, 1973. 158 p. (In Russ.).

DOI: 10.33917/mic-2.103.2022.39-48

The state is a specific economic entity. With all the variety of tasks performed on behalf of the state in the actions performed with state funds and property, the legitimate interest of the state at the general epistemological level is not defined in any way. The article focuses on the need for universal approaches to develop criteria for assessing the violated state interest from the position of an expert economist who evaluates the effectiveness of managerial decisions.

References:

1. Civil Code of the Russian Federation (Part One) dated November 30, 1994 No. 51-FZ. URL: http://www.consultant.ru/document/cons_doc_LAW_5142/

2. Criminal Code of the Russian Federation. URL: http://www.consultant.ru/document/cons_doc_law_10699/

3. On the Government of the Russian Federation: Federal Constitutional Law of December 17, 1997 (as amended on December 3, 2012). URL: http://www.consultant.ru/document/cons_doc_LAW_17107//

4. On the protection of the rights and legitimate interests of investors in the securities market: Federal Law No. 46-FZ of March 5, 1999. URL: http://www.consultant.ru/document/cons_doc_LAW_22219/

5. On the protection of consumer rights: Federal Law of February 7, 1992 No. 2300-1. URL: http://www.consultant.ru/document/cons_doc_LAW_305/.

6. On the contract system in the field of procurement of goods, works, services to meet state and municipal needs: Federal Law No. 44-FZ of April 5, 2013. URL: http://www.consultant.ru/document/Cons_doc_LAW_144624//

7. On the privatization of state and municipal property: Federal Law No. 178-FZ of December 21, 2001 (as amended on April 1, 2019). URL: http://www.consultant.ru/document/cons_doc_LAW_35155/

8. On Joint Stock Companies: Federal Law No. 208-FZ of December 26, 1995 (as amended on April 15, 2019). URL: http://www.consultant.ru/document/cons_doc_LAW_8743/

9. National Security Strategy of the Russian Federation until 2020 (approved by Decree of the President of the Russian Federation of May 12, 2009 No. 537). URL: http://www.consultant.ru/document/cons_doc_LAW_191669/942772dce30cfa36b671bcf19ca928e4d698a928/

10. Economic security strategy of the Russian Federation for the period up to 2030 (approved by Decree of the President of the Russian Federation of May 13, 2017 No. 208. URL: http://www.consultant.ru/document/cons_doc_LAW_216629/1d8dcf5824d5241136fa09b9e9c672ac5d325365/

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12. Gambarov Y.S. the Course of civil law. Vol. 1: the General Part. SPb., 1911. 793 p. (In Russ.).

13. Gribanov V.P. Interest in civil law. Sovetskoe gosudarstvo i pravo = Soviet state and law. 1967;(1):49-56.

14. Ioffe O.S. the Relationship on Soviet civil law. L.: Leningrad University Press, 1949. 144 p. (In Russ.).

15. Kovyazina N.M. Interest and subjective right: the ratio of legal categories. Zakon i pravo = Law and right. 2018;(09):60-66. (In Russ.). doi: 10.24411/2073–3313–2018–10141

DOI: 10.33917/mic-2.103.2022.5-38

Monetary policy is the most important instrument of economic growth policy, but the influence of any instrument may weaken or strengthen over time. We will designate this state as the cumulative effect of monetary policy. The purpose of the study is to determine the cumulative effect of monetary policy, with the identification of the effectiveness of its measures in ensuring the growth of the Russian economy. The methodology of the study consists of monetary theory, structural analysis of the money supply, the principle of «goals-tools» of economic policy and correlation and regression analysis, which allow to identify the presence of the cumulative effect of monetary policy, to determine its impact on relevant macroeconomic goals: GDP growth and inflation.

The result of the study is the application of the introduced indicators of the sensitivity of macro-policy goals to monetary policy instruments, representing a picture of the weakening of the influence of monetary policy on the growth of the Russian economy. The increasing monetization was accompanied, in particular, by a decrease in the growth rate of the Russian economy, the unfolding of a recession, the consequences of which affect the dynamics of economic development, while maintaining a tight monetary policy option – with an increase in the key interest rate. The structural analysis of the money supply for the M2 aggregate made it possible to identify those components that, with an increase, slow down growth and reduce inflation, as well as to determine the closeness of the relationship of the interest rate with the changing components of the money supply. The assessment of the cumulative effect of monetary policy on two goals of macroeconomic development – growth and inflation, and two monetary policy instruments – the M2 money supply and the key interest rate, confirmed the existence of a negative cumulative effect of the policy for the growth goal and a positive cumulative effect on the inflation rate. For two purposes at once, the positive cumulative effect of monetary policy is confirmed only for the period 2016-2018 in the interval 2001-2020. Thus, monetary policy, firstly, ensured the containment of inflation out of connection with growth, and secondly, provided different cumulative effects for different purposes – due to the different sensitivity of the target to the instruments.

The prospect of the study is seen in the creation of some kind of aggregated indicator that would allow taking into account the overall impact on the dynamics of the entire set of monetary policy measures, and not separately by goals and instruments, as presented in this study.

References:

1.       Glazyev S.Yu. A leap into the future. Russia in new technological and world economic structures. Moscow: Knizhny Mir, 2018. 768 p. (In Russ.).

2.      Glazyev S.Yu. Lessons of the next Russian revolution: the collapse of a liberal utopia and a chance for an «economic miracle». Moscow: Publishing House «Ekonomicheskaya Gazeta», 2011. 576 p. (In Russ.).