The "Economic Strategies" journal

2022 #4. 2022. Resilience of tne Will




Implied (Implicit) Limitations on Corporate Governance

DOI: https://doi.org/10.33917/es-4.184.2022.134-143

The author examines the compliance of the legal nature of the company with the principle of social justice. The shareholder has priority in corporate governance by virtue of the economic and legal status. The interests of a participant (shareholder) are derived from the interests of a commercial organization. The goals of the company must take into account the interests of other stakeholders in modern conditions. The author proposes a tool of “implied limitations” which allows to include an element of social justice in managerial discretion.

Источники:

1. O rekomendatsiyakh Bazel’skogo komiteta po bankovskomu nadzoru Printsipy sovershenstvovaniya korporativnogo upravleniya” [On the Recommendations of the Basel Committee on Banking Supervision “Principles for Improving Corporate Management”]. Kodeks, available at: https://docs.cntd.ru/document/902328968.

2. Postanovlenie Konstitutsionnogo suda RF ot 23 aprelya 2012 g. N 10-P “Po delu o proverke konstitutsionnosti abzatsa desyatogo stat’i 2 Zakona Rossiiskoi Federatsii ‘O zanyatosti naseleniya v Rossiiskoi Federatsii’ v svyazi s zhaloboi grazhdanki E.N. Erlikh” [Resolution of the RF Constitutional Court of April 23, 2012 No. 10-P “On the Сase of Сhecking Сonstitutionality of the Tenth Paragraph of Article 2 of the Law of the Russian Federation “On Employment in the Russian Federation“ in Relation to the Complaint of Citizen E.N. Erlich”]. Konsul’tantPlyus, available at: http://www.consultant.ru/document/cons_doc_LAW_128931/

3. Informatsionnoe pis’mo Banka Rossii ot 12 iyulya 2021 g. N IN-06-28/49 “O rekomendatsiyakh po raskrytiyu publichnymi aktsionernymi obshchestvami nefinansovoi informatsii, svyazannoi s deyatel’nost’yu takikh obshchestv” [Bank of Russia Information Letter No. IN-06-28/49, Dated July 12, 2021, “On Recommendations for Disclosing Non-Financial Information by Public Joint Stock Companies Related to the Activities of Such Companies”]. Vestnik Banka Rossii, 2021, no 48.

4. Measuring Stakeholder Capitalism: Towards Common Metrics and Consistent Reporting of Sustainable Value Creation. White paper. September 2020. World Economic Forum, available at: https://www3.weforum.org/docs/WEF_IBC_Measuring_Stakeholder_Capitalism_Report_2020.pdf.

5. Bebchuk L., Tallarita R. The Illusory Promise of Stakeholder Governance. Cornell Law Review, 2020, vol. 106, pp. 91–178.

6. Elhauge E. The Inevitability and Desirability of the Corporate Discretion to Advance Stakeholder Interests. Harvard Law School, Cambridge, 2021, pp. 1–39.

7. Elhauge E. Sacrificing Corporate Profits in the Public Interest. New York University Law Review, 2005, vol. 80, pp. 733–869.

8. Blair M., Stout L. A Team Production Theory of Corporate Law. Virginia Law Review, 1999, vol. 85, pp. 247–328.

9. Postanovlenie Evropeiskogo suda po pravam cheloveka ot 7 iyulya 2020 g. po delu “Al’bert i drugie protiv Vengrii” [Judgment of the European Court of Human Rights of 7 July 2020 in the Case of Albert and Others v. Hungary]. Arbitrazhnyi protsessual’nyi kodeks Rossiiskoi Federatsii, available at: https://apkrfkod.ru/pract/postanovlenie-espch-ot-07072020/

Who Wants to be the First? From Competition to Service by Faith in Christ

DOI: https://doi.org/10.33917/es-4.184.2022.128-133

The article dwells on spiritual prerequisites and weaknesses of the modern conception of competition, as well as the possibility of transforming it from the point of view of Truth — the Orthodox faith in Jesus Christ, the Son of God.

Источники:

1. Porter M. Konkurentsiya [Competition]. Moscow, Vil’yams, 2005, p. 30.

2. Khazin M.L. Mir na poroge novykh vremen [World on the Threshold of New Times]. World Crisis. 2012, July, 22, available at: http://worldcrisis.ru/crisis/1000041.

3. Sorokin P.A. Tainstvennaya energiya lyubvi [Mysterious Energy of Love]. Sotsiologicheskie issledovaniya, 1991, no 8, p. 124.

4. Iustin (Popovich), prepodobnyi. Filosofskie propasti [Philosophical Abysses]. Moscow, 2005, p. 263.

5. Brandenburger А.М., Nalebuff В.J. Co-Opetition: A Revolution Mindset That Combines Competition and Cooperation. N. Y., 1996.

6. Deming U.E. Novaya ekonomika [New Economy]. Moscow, 2006.

7. Polterovich V.M. Pozitivnoe sotrudnichestvo: faktory i mekhanizmy evolyutsii [Positive Collaboration: Factors and Mechanisms of Evolution]. Voprosy ekonomiki, 2016, no 11, pp. 5–23.

8. Vazhenina I.S., Vazhenin S.G. Konkurentnoe sotrudnichestvo territorii v sovremennom ekonomicheskom prostranstve [Competitive Cooperation of Territories in the Modern Economic Space]. Ekonomika regiona, 2020, no 2, pp. 406–419.

9. Lalu F. Otkryvaya organizatsii budushchego [Discovering Organizations of the Future]. Moscow, 2017, p. 242.

10. Semenchuk V.V. Biznes-khaking. Ishchi uyazvimosti konkurentov — vzryvai rynok [Business Hacking. Look for Competitors’ Vulnerabilities — Blow up the Market]. Moscow, 2019, p. 5.

11. Shlyakhov A.L. Top-menedzher mafii. Polnyi kurs po likvidatsii konkurentov [Mafia Top Manager. Complete Course on Eliminating Competitors]. Moscow, 2012, p. 27.

12. Kropotkin P.A. Vzaimnaya pomoshch’ sredi zhivotnykh i lyudei kak dvigatel’ progressa [Mutual Aid Among Animals and People as an Engine of Progress]. Moscow, 2018.

13. Glaz’ev S.Yu. Nravstvennye nachala v ekonomicheskom povedenii i razvitii — vazhneishii resurs vozrozhdeniya Rossii [Moral Principles in Economic Behavior and Development — the Most Important Resource for Russia’s Revival]. Ekonomika i obshchestvennaya sreda: neosoznannoe vzaimovliyanie. Moscow, 2008, pp. 420, 421.

14. Obert T.B. Teoriya konkurentsii [Competition Theory]. Ucheb. posobie. Saratov, 2014, p. 11.

15. Katasonov V.Yu. Kapitalizm. Istoriya i ideologiya denezhnoi tsivilizatsii” [Capitalism. History and Ideology of “Monetary Civilization”]. Moscow, 2015, p. 832.

16. L’vov D.S. Kakaya ekonomika nuzhna Rossii? [What Economy Does Russia Need?]. Ekonomicheskie i sotsial’nye peremeny v regione, 2003, no 20, p. 15.

17. Chan Kim V., Moborn R. Strategiya golubogo okeana [Blue Ocean Strategy]. Moscow, 2016, p. 14.

18. Bulgakov S.N. Filosofiya khozyaistva [Philosophy of Economy]. Moscow, 2009, pp. 173, 174.

19. Druker P.F. Effektivnyi rukovoditel’ [Effective Leader]. Moscow, 2020, p. 22.

Only a Sacred National Idea will Save Russia

DOI: https://doi.org/10.33917/es-4.184.2022.120-127

In analyzing the essence of the Russian national idea and the way of reviving spiritual and moral values, it is necessary not only to understand the causes and events that destroyed the Soviet state, but also to build a program of overcoming the systemic crisis based on our own historical experience in the historical and philosophical context. The power perceived in Ancient Russia, along with the adoption of Christianity, gained sacredness from Byzantium, which absorbed all the experience of Antiquity, Ancient Judea and the Roman Empire. The article formulates a historiosophical concept, defines the systemic crisis of statehood, and outlines a way out of the time of troubles through the genuine institution of democracy in Russia, the Zemsky Sobor (Russian People’s Assembly), which is inherent in Russian civilization.) from the indigenous classes: the clergy and the peasantry, the officers and the Cossacks, the merchants and the resurgent Russian entrepreneurship, the workers and peasants, the scientific and engineering and creative elite.

Sketching on Viruses

DOI: https://doi.org/10.33917/es-4.184.2022.113-119

“Viruses stand on the borders of the living and non-living. On the one hand, they have all the attributes of a living thing: they are born, assimilate, die and, to please those who are accustomed to seeing movement in the living, move. But in chemical laboratories viruses are sometimes transformed into powder, which in appearance doesn’t differ much from a mineral that has been ground into powder. And this “viral” powder is not born, does not assimilate, does not die and, of course, if it moves, then only for the same reasons as granulated sugar. But once the virus powder, sleeping in a “dead sleep” for a long time, longer than the “sleeping princess”, is “transferred” into a living environment, for example, tobacco mosaic virus is put onto tobacco leaves, the powder in the plant cells will turn into tailed living beings. If a virus is alive, why doesn’t it die when it turns into a corpse? If it is lifeless, why, having resurrected, it lives like all living things?” (N.K. Koltsov)

Источники:

1. Lizikova M. Nuclear energy prospects and legal challenges towards achieving sustainable development goals. E3S Web of Conferences, 2020, no 1, p. 02009.

2. Baisaeva M.U. Rol’ i znachenie inostrannykh investitsii v Rossii [Role and Importance of Foreign Investments in Russia]. Ekonomist”, 2020, no 1, pp. 80–82.

3. Vypkhanova G.V., Zhavoronkova N.G. Innovatsii v energetike — organizatsionno-pravovye aspekty [Innovations in the Energy Sector — Organizational and Legal Aspects]. Aktualnye problemy rossiiskogo prava, 2021, vol. 16, no 1 (122), pp. 189–203.

4. Tsentral’nyi bank Rossiiskoi Federatsii [Central Bank of the Russian Federation], available at: https://www.cbr.ru/

5. Obzor energetiki stran BRIKS [Overview of the BRICS Countries Energy]. Sammit BRICS, 2020, November, 17, available at: https://brics-russia2020.ru/images/114/89/1148936.pdf.

6. Balafas V., Fakiolas E.T. From energy security to energy dominance: US’ blending of politics and economics. Strategic Analysis, 2020, no 44 (2), pp. 91–105.

7. Inevatova O.A., Matushkin E.F. Problemy i perspektivy ispol’zovaniya kapital’nykh vlozhenii v energetike [Problems and Prospects of Using Capital Investments in the Energy Industry]. Tendentsii razvitiya nauki i obrazovaniya, 2021, no 69-2, pp. 21–24.

8. Nagimova A. Arabskie investitsii v rossiiskuyu infrastrukturu [Arab Investments in Russian Infrastructure]. Mirovaya ekonomika i mezhdunarodnye otnosheniya, 2020, vol. 64, no 3, pp. 80–87.

9. Eksport Rossiiskoi Federatsiei prirodnogo gaza (po dannym FTS i Rosstat) [Export of Natural Gas by the Russian Federation (According to the Federal Customs Service and Rosstat)]. Tsentral’nyi bank RF, available at: https://cbr.ru/vfs/statistics/credit_statistics/trade/gas.xls.

10. Ministerstvo energetiki Rossiiskoi Federatsii [Ministry of Energy of the Russian Federation], available at: https://minenergo.gov.ru/

Investment Attractiveness of the Russian Energy Sector for Foreign Investors: Assessment and Recommendations

DOI: https://doi.org/10.33917/es-4.184.2022.106-112

The article analyses the investment attractiveness of the Russian energy sector for foreign investors. Analysis is based on such indicators as the volume of energy resources’ production and export as well as their dynamics, foreign direct investment in the country’s energy industry, portfolio investment in the “green” energy industry. The author draws up a conclusion that despite the exports decrease in the main types of energy resources (oil, gas, coal, energy) over the past few years (2020–2021), Russia continues to play a leading role in the global fuel and energy complex, the volume of foreign direct investment in industry is steadily growing, the “green” energy industry is actively developing. The author also dwells on the difficulties that foreign investors have to face when investing in the Russian energy sector. The present study results in identifying the main directions for improving investment attractiveness of the Russian energy sector for potential foreign investors.

Источники:

1. Lizikova M. Nuclear energy prospects and legal challenges towards achieving sustainable development goals. E3S Web of Conferences, 2020, no 1, p. 02009.

2. Baisaeva M.U. Rol’ i znachenie inostrannykh investitsii v Rossii [Role and Importance of Foreign Investments in Russia]. Ekonomist”, 2020, no 1, pp. 80–82.

3. Vypkhanova G.V., Zhavoronkova N.G. Innovatsii v energetike — organizatsionno-pravovye aspekty [Innovations in the Energy Sector — Organizational and Legal Aspects]. Aktualnye problemy rossiiskogo prava, 2021, vol. 16, no 1 (122), pp. 189–203.

4. Tsentral’nyi bank Rossiiskoi Federatsii [Central Bank of the Russian Federation], available at: https://www.cbr.ru/

5. Obzor energetiki stran BRIKS [Overview of the BRICS Countries Energy]. Sammit BRICS, 2020, November, 17, available at: https://brics-russia2020.ru/images/114/89/1148936.pdf.

6. Balafas V., Fakiolas E.T. From energy security to energy dominance: US’ blending of politics and economics. Strategic Analysis, 2020, no 44 (2), pp. 91–105.

7. Inevatova O.A., Matushkin E.F. Problemy i perspektivy ispol’zovaniya kapital’nykh vlozhenii v energetike [Problems and Prospects of Using Capital Investments in the Energy Industry]. Tendentsii razvitiya nauki i obrazovaniya, 2021, no 69-2, pp. 21–24.

8. Nagimova A. Arabskie investitsii v rossiiskuyu infrastrukturu [Arab Investments in Russian Infrastructure]. Mirovaya ekonomika i mezhdunarodnye otnosheniya, 2020, vol. 64, no 3, pp. 80–87.

9. Eksport Rossiiskoi Federatsiei prirodnogo gaza (po dannym FTS i Rosstat) [Export of Natural Gas by the Russian Federation (According to the Federal Customs Service and Rosstat)]. Tsentral’nyi bank RF, available at: https://cbr.ru/vfs/statistics/credit_statistics/trade/gas.xls.

10. Ministerstvo energetiki Rossiiskoi Federatsii [Ministry of Energy of the Russian Federation], available at: https://minenergo.gov.ru/

11. Pryamye investitsii po sektoram ekonomiki [Direct Investments by Sectors of the Economy]. Tsentral’nyi bank RF, available at: https://cbr.ru/statistics/macro_itm/svs/

Fisheries and Aquaculture Development in West Africa: an Opportunity for Russia?

DOI: https://doi.org/10.33917/es-4.184.2022.100-105

The Gulf of Guinea is one of the most productive fishing areas in the ocean, which has attracted the attention of many external actors. The article considers the feasibility of cooperation between Russia and the member countries of the Fisheries Committee for the West Central Gulf of Guinea (FCWC) in the field of fisheries and aquaculture, as today Russian companies operate mainly to the north, in the waters of Morocco and Mauritania. The results of the analysis of the FCWC 2021-2030 Strategic Action Plan reveal the directions of maritime activities in the countries, the nature of external donors’ participation in the implementation of the project and the possibility of Russia’s inclusion. A conclusion is made about the prospects of russian investments in the development of fisheries and aquaculture in the region.

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2022, January — May: Russia in the Context of Slowing Down Socio-economic Development

DOI: https://doi.org/10.33917/es-4.184.2022.90-95

Changing of a conjuncture index of “Economic strategy” (CIES) for five months of 2022 is considered. The contribution of indicators of supply and demand in CIES is estimated. The analysis of industrial production is carried out.

Источники:

1. Sotsial’no-ekonomicheskoe polozhenie Rossii v yanvare — mae 2022 goda: Doklad [Socio-Economic Situation in Russia in January-May 2022: Report]. Federal’naya sluzhba gosudarstvennoi statistiki, available at: https://rosstat.gov.ru/storage/mediabank/osn-05-2022.pdf.

2. Osnovnye parametry stsenarnykh uslovii prognoza sotsial’no-ekonomicheskogo razvitiya Rossiiskoi Federatsii na 2023 god i na planovyi period 2024 i 2025 godov [Main Parameters of the Scenario Conditions for Forecasting Socio-economic Development of the Russian Federation for 2023 and for the Planned Period of 2024 and 2025]. Ministerstvo ekonomicheskogo razvitiya RF, available at: https://www.economy.gov.ru/material/file/c56d9cd0365715292055fe5930854d59/scenarnye_usloviya_2023.pdf.

3. Informatsiya o Plenarnom zasedanii Peterburgskogo mezhdunarodnogo ekonomicheskogo foruma s uchastiem Prezidenta RF 17 iyunya 2022 g. [Information on the Plenary Meeting of the St. Petersburg International Economic Forum with Participation of the President of the Russian Federation on June 17, 2022]. Ofitsial’nyi sait Prezidenta RF, available at: kremlin.ru/events/president/news/68669.

4. Frenkel’ A.A., Tikhomirov B.I., Surkov A.A. 2021: stagflyatsiya ili tekhnologicheskii suverenitet — inogo ne dano! [2021: Stagflation or Technological Sovereignty — No Other Choice!]. Ekonomicheskie strategii, 2022, no 2, pp. 86–91, DOI: 10.33917/es-2.182.2022.86-91.

Peculiarities of the Bread Products Consumption as a Factor in the Health Status of the Working Population of Russia

DOI: https://doi.org/10.33917/es-4.184.2022.82-89

Bread and bakery products are among the basic foods in Russia. Among the subjects of the Russian Federation 23 regions have seen an increase in the consumption of bread products in 2017–2020, leaders in consumption growth became the Astrakhan region, Republic of Ingushetia, the Chechen Republic and the Krasnodar Territory. These regions traditionally have a high consumption of bread products (10–19% higher than the Russian average). In addition, in the above North Caucasian regions, as well as in the Astrakhan region, in 2017–2020 Rosstat have recorded one of the lowest per capita monetary incomes of the population (30–53% lower than the average for the Russian Federation). In 2018– 2020 consumption of bread products in the Russian Federation was at the level of 116 kg per person a year, which is 20 kg or 21% higher than the recommended norm. Thus, resulting from a decline in revenues, the population switches from consumption of more expensive products to cheaper ones, saving on the purchase of meat, vegetables and fruit. Studies in this area have shown that bread products and vegetable oil in terms of kilocalories per ruble of costs stand in the first place, sugar and confectionery are in the second and potatoes are in the third place. The quality of the Russian consumer basket is the success of the nation’s longevity.

Poverty, Inequality, National Wealth: Empirical Analysis and Policy Implications

DOI: https://doi.org/10.33917/es-4.184.2022.70-81

The article is devoted to the study of poverty and inequality in the economic growth of the most developed countries, with a general focus on the formation of social policy consistent with the growth policy. The purpose of the study is to conduct a macroeconomic analysis of poverty, inequality and wealth in the G7 countries, China and Russia, with the ensuing substantiation of a social development strategy for the Russian economy. The methodology is made up of empirical analysis, as well as regression modeling, which make it possible to identify in a comparative way the connectivity of the dynamics of relevant indicators of social development  — the level of national poverty and wealth, the Gini coefficient and general inequality, growth rate, human development index. The result of the study is a precisely confirmed empirical relationship between the level of poverty and inequality for the countries considered, that is, a high value of one parameter corresponds to a high value of another. Consequently, poverty reduction may imply a reduction in inequality, and not only relative, but also absolute. In addition, it was found that for developed countries, high levels of poverty and inequality mean low values of the human development index. Social policy aimed at human development requires that its instruments be harmonized, including the necessary alignment with the current macroeconomic policies to stimulate growth. The magnitude of national wealth does not guarantee high growth rates, as well as low levels of inequality and poverty. A high level of inequality can accompany economic growth, having a positive effect on the growth rate, as for the Russian economy. In this regard, the current policy needs a reasonable selection of measures to stimulate growth and, at the same time, measures to reduce inequality, which can and should not be limited only to tax changes that require special confirmation of influence, but to institutional changes that regulate the creation and appropriation of income.

Источники:

1. Aganbegyan A.G. Kak preodolet’ stagnatsiyu i novyi krizis, obespechiv sotsial’no-ekonomicheskii rost [How to Overcome Stagnation and New Crisis, Providing Socio-Economic Growth]. Ekonomicheskie strategii, 2020, vol. 22, no 5, pp. 34–45, DOI: 10.33917/es-5.171.2020.34-45; no 6, pp. 6–19, DOI: 10.33917/es-6.172.2020.6-19.

2. Adzhimoglu D., Robinson Dzh.A. Pochemu odni strany bogatye, a drugie bednye. Proiskhozhdenie vlasti, protsvetaniya i nishchety [Why Some Countries are Rich and Others are Poor. The Origin of Power, Prosperity and Poverty]. Moscow, AST, 2016, 693 p.

3. Livshits V.N. Bednost’ i neravenstvo dokhodov naseleniya v Rossii i za rubezhom [Poverty and Inequality of the Population Incomes in Russia and Abroad]. Moscow, IE RAN, 2017, 52 p.

4. Stiglits Dzh. Tsena neravenstva. Chem rassloenie obshchestva grozit nashemu budushchemu? [The Cost of Inequality. How does Social Stratification Threaten Our Future?]. Moscow, Eksmo, 2015, 512 p.

The Dollar Collapse: Projecting Russia’s Actions in the Face of Global Economic Collapse

DOI: https://doi.org/10.33917/es-4.184.2022.56-69

The world has been scared by the collapse of the dollar many times. So far, fears of a global economic collapse, associated with the fate of the dollar, have been greatly exaggerated. However, there are no significant guarantees that this will not happen under certain conditions. Variants of the Atlantic-planned collapse of the dollar with its replacement by a synthetic financial instrument o r digital currency, somehow similar to bitcoin, are possible. COVID-19 has further revealed this problem. Russia needs to abandon its illusions and to be ready to ensure the economic stability of political regime in a special period as manifestation of the world monetary and economic war of all against all at a certain stage of the catastrophe, while waiting for the main actors to agree on joint actions. At the same time, among our geopolitical competing partners, there are a lot of those who want by all means to solve their economic and other problems at the expense of Russia. Therefore,  macroeconomic measures that Russia will have to take in case of a global dollar collapse are very likely to be more severe than the scenario that the authors formulated in this article.

Источники:

1. Makarov V.L., Bakhtizin A.R., Il’in N.I., Sushko E.D. Natsional’naya bezopasnost’ Rossii [National Security of Russia]. Ekonomicheskie strategii, 2020, no 5, pp. 6–23, available at: DOI: 10.33917/es-5.171.2020.6-23.

2. Ageev A.I., Loginov E.L. Coronavirus superstrategy: mirovaya proektsiya finansovoi modeli catastrophe just-in-time dlya vykhoda iz krizisa na novuyu geoekonomicheskuyu normal’nost’ [Coronavirus Superstrategy: Global Projection of the “Just-in-time Catastrophe’s” Financial Model for Overcoming the Crisis and Entering into a New Geo-Economic Normality]. Ekonomicheskie strategii, 2020, no 4, pp. 6–19, available at: DOI: 10.33917/es-4.170.2020.6-19.

3. Na poroge monetarnoi kul’minatsii [On the Brink of a Monetary Climax]. Livejournal, Spydell, 2021, August, 25, available at: https://spydell.livejournal.com/699002.html.

4. Fiskal’nyi ad [Fiscal Hell]. Livejournal, Spydell, 2021, April, 21, available at: https://spydell.livejournal.com/698446.html.

5. Ageev A.I., Loginov E.L. New Deal – 2008 — “novaya sdacha”. Bludnye ucheniki Franklina Ruzvel’ta [“New Deal” – 2008. Lost Followers of Franklin Roosevelt]. Ekonomicheskie strategii, 2009, no 2, pp. 30–37

6. Ageev A.I., Loginov E.L. Formirovanie novoi modeli valyutno-finansovoi politiki pri upravlenii natsional’nymi zolotovalyutnymi rezervami Rossii [Forming a New Model of Monetary Policy while Managing the National Foreign Exchange Reserves of Russia]. Ekonomicheskie strategii, 2016,

no 3, no 8–15.

7. Ageev A.I., Loginov E.L. Institutsional’nye mekhanizmy snizheniya mul’tifaktornykh riskov dlya valyutno-finansovoi sistemy Rossii i EAES v usloviyakh nelineinoi ekonomicheskoi dinamiki [Institutional Mechanisms for Reducing Multifactor Risks for Monetary-financial System of Russia and the EAEU in the Context of Nonlinear Economic Dynamics]. Monografiya. Moscow, Institut ekonomicheskikh strategii, 2017.