“Unpredictable” Results of 2022 and Potential Threats to Russia’s Strategic Development in the Current Year

DOI: 10.33917/es-2.188.2023.44-49

The article addresses the change in the market index of “Economic Strategies” (MIES) for 2022. Contribution of the supply and demand indicators to the KIES is assessed. Dynamics of industrial production is analyzed.

References:

1. Poslanie Prezidenta Rossiiskoi Federatsii Federal’nomu sobraniyu Rossiiskoi Federatsii ot 21 fevralya 2023 g. [Address of the President of the Russian Federation to the Federal Assembly of the Russian Federation of February 21, 2023]. Ofitsial’nyi sait Prezidenta RF, available at: http://kremlin.ru/events/president/news/70565.

2. Otsenka chislennosti postoyannogo naseleniya na 1 yanvarya 2023 g. i v srednem za 2022 g. i komponenty ee izmeneniya (s uchetom itogov Vserossiiskoi perepisi naseleniya 2020 g.) [Estimated Resident Population as of January 1, 2023 and on Average for 2022 and Components of its Change (Against Results of the 2020 All-Russian Population Census)]. Federal’naya sluzhba gosudarstvennoi statistiki, available at: https://rosstat.gov.ru/folder/12781.

3. Sotsial’no-ekonomicheskoe polozhenie Rossii v yanvare — dekabre 2022 goda: Doklad [Socio-Economic Situation in Russia in January-December 2022: Report]. Federal’naya sluzhba gosudarstvennoi statistiki, available at: https://rosstat.gov.ru/storage/mediabank/osn-12-2022.pdf.

4. Sotsial’no-ekonomicheskoe polozhenie Rossii v yanvare 2023 goda: Doklad [Socio-Economic Situation in Russia in January 2023: Report]. Federal’naya sluzhba gosudarstvennoi statistiki, available at: https://rosstat.gov.ru/storage/mediabank/osn-01-2023.pdf.

5. Frenkel’ A.A., Tikhomirov B.I., Surkov A.A. Itogi razvitiya mobilizatsionnoi ekonomiki Rossii v yanvare — sentyabre 2022 g.: bor’ba za gosudarstvennyi suverenitet [Results of the Development of the Mobilization Economy of Russia in January — September 2022: the Struggle for State Sovereignty].

Ekonomicheskie strategii, 2022, no 6(186), pp. 30–35, DOI: 10.33917/es-6.186.2022.30-35.

6. Informatsiya ob uchastii Prezidenta RF v rabote ezhegodnogo s”ezda Rossiiskogo soyuza promyshlennikov i predprinimatelei (RSPP) 16 marta 2023 g. [Information on Participation of the President of the Russian Federation in the Annual Congress of the Russian Union of Industrialists and Entrepreneurs (RSPP) on March 16, 2023]. Ofitsial’nyi sait Prezidenta RF, available at: http://kremlin.ru/events/president/news/70688.

Prospects for Russian-Turkmen Cooperation at the Current Stage

DOI: 10.33917/es-2.188.2023.36-43

The article analyzes historical development of the Russian-Turkmenistan relations. Multi-vector nature and flexibility in the development of a strategic partnership with Turkmenistan is substantiated. The author concludes that Russian-Turkmenistan relations should not be limited only to cooperation in the gas sector, but should develop dynamically towards formation of transport and logistics corridors, development of the tourist industry and communications modernization.

References:

1. Parizhskaya rech’ generala v ego kvartire na ryu Pent’er pered serbskimi studentami “Zavety slavyanstvu” [“Testaments to the Slavs”, Parisian Speech of the General in his Apartment on Rue Pentier to Serbian Students]. Sitaty.info, available at: https://citaty.info/man/mihail-skobelev.

2. Mezhgosudarstvennye otnosheniya Rossii i Turkmenii [Interstate Relations between Russia and Turkmenistan]. RIA “Novosti”, 2022, 10 iyunya, available at: https://ria.ru/20220610/turkmeniya-1794373218.html.

3. BP Statistical Review of World Energy 2020. 69th edition, available at: https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/energy-economics/statistical-review/bp-stats-review-2020-full-report.pdf.

4. BP Statistical Review of World Energy 2020. 71th edition, available at: https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/
energy-economics/statistical-review/bp-stats-review-2022-full-report.pdf.

5. Vyakhirev gotov k kompromissu [Vyakhirev is Ready to Compromise]. Nezavisimaya gazeta, 1999, 18 dekabrya, available at: https://www.ng.ru/cis/1999-12-18/5_viahirev.html.

6. V Ashkhabade sostoyalsya shestoi Kaspiiskii sammit [The Sixth Caspian Summit was Held in Ashgabat]. Rossiiskaya gazeta, 2022, 29 iyunya, available at: https://rg.ru/2022/06/29/bereg-druzej.html.

7. Kaspiiskoe sotrudnichestvo kak sposob resheniya ekonomicheskikh problem Turkmenistana [Caspian Cooperation as a Way to Solve Turkmenistan’s Economic Problems]. CABAR, available at: https://cabar.asia/ru/

8. Citaty.info, available at: https://citaty.info/man/mihail-skobelev.

9. Turkmenistan prizyvaet strany Kaspiya k rasshireniyu transportnogo sotrudnichestva [Turkmenistan Calls on the Caspian Countries to Expand Transport Cooperation]. Bol’shaya Aziya, 2022, 7 oktyabrya, available at: https://bigasia.ru/content/news/businness/turkmenistan-prizyvaet-strany-kaspiyak-rasshireniyu-transportnogo-sotrudnichestva/

10. Proekt Turkmenbashinskogo mezhdunarodnogo porta [The Project of the Turkmenbashi International Port]. GAP.INSAAT, available at: https://www.gapinsaat.com/ru/infrastructure/international-turkmenbasi-seaport-project.html.

11. Cherez mezhdunarodnyi port Turkmenbashi (Turkmenistan) eksportirovano bolee 6,5 mln tonn gruzov [More than 6.5 million tons of Cargo were Exported Hhrough the International Port of Turkmenbashi (Turkmenistan)]. Internet-portal SNG, 2022, 2 sentyabrya, available at: https://e-cis.info/news/567/102962/

Capital Accumulation Dynamics

DOI: 10.33917/es-2.188.2023.24–35

The article discusses the scheme of K. Marxian expanded reproduction through the prism of the capital accumulation analysis by R. Luxembourg taking into account of the infrastructure impact on the development of capitalism.

The author gives examples of the 21st century infrastructure, in par ticular he examines multilateral platforms — payment systems for cross-border payments, associated with broadband satellite Internet access and an ar tificial intelligence environment.

References:

1. Kuznetsova A.I. Infrastruktura: voprosy teorii, metodologii i prikladnye aspekty sovremennogo infrastrukturnogo obustroistva. Geoekonomicheskii podkhod [Infrastructure: Issues of Theory, Methodology and Applied Aspects of Modern Infrastructure Development. Geoeconomic Approach]. Moscow, KomKniga, 2006, 456 p.

2. Novoselov A.S. Regional’nye rynki [Regional Markets]. Moscow, TERRA, 1999, 476 p.

3. Samuel’son P., Nordkhaus V.M. Ekonomika [Economy]. Moscow, Vil’yams, 2001, 688 p.

4. Buzgalin A.V., Kolganov A.I. Global’nyi capital [Global Capital]. Moscow, Editorial URSS, 2004, 512 p.

5. Vazyulin V.A. Logika “Kapitala” K. Marksa [The Logic of K. Marx’s “Capital”]. 2-e izd. Moscow, Sovremennyi gumanitarnyi universitet, 2002, 392 p.

6. Gegel’ G.V.F. Nauka logiki [The Science of Logic]. Saint Petersburg, Nauka, 2005, 799 p.

7. Marks K. Kapital [Capital]. T. I–III. Moscow, Politizdat, 1978, 629 p.

8. Lyuksemburg R. Nakoplenie kapitala [The Accumulation of Capital]. 5-e izd. Moscow — Leningrad, Gos. Sotsial’no-ekonomicheskoe izdatel’stvo, 1934, 478 p.

9. Organizatsiya ekonomicheskogo sotrudnichestva i razvitiya, M3 dlya SShA [Organization for Economic Co-operation and Development, M3 for the United States]. FRED, Federal’nyi rezervnyi bank Sent-Luisa, available at: https://fred.stlouisfed.org/series/MABMM301USM189S.

10. Zaidenvarg V.E., Podolyak V.I., Saraev V.N. Osnovy upravleniya krizisami na rynkakh uglya, gaza i elektroenergii [Fundamentals of Crisis Management in the Coal, Gas and Electricity Markets]. Moscow, Institut ekonomicheskikh strategii, 2003, 192 p.

11. Malkov S.Yu. Sotsial’naya samoorganizatsiya i istoricheskii protsess: Vozmozhnosti matematicheskogo modelirovaniya [Social Self-Organization and the Historical Process: Possibilities of Mathematical Modeling]. Moscow, Knizhnyi dom “LIBROKOM”, 2009, 240 p.

12. Interlinking payment systems and the role of application programming interfaces: a framework for cross-border payments. Basel, Switzerland, Bank for International Settlements, Committee on Payments and Market Infrastructures (CPMI). Report to the G20, 2022, July, 53 p.

13. Exploring multilateral platforms for cross-border payments. Basel, Switzerland, Bank for International Settlements, 2023, January, 33 p.

Hybrid Wars in the Macroeconomic Supersystem of the XXI Century

DOI: 10.33917/es-2.188.2023.6-23

We do care about what the foreseeable future will be… The recent period has clearly shown that expectations of W estern experts regarding the planned collapse of Russian and Chinese economies have not materialized. The ar ticle analyzes the main pressure tools and strategies of the main global politics actors on peripheral countries in order to solve the accumulated problems associated with increased debts and the need for fur ther trade expansion. Aggregated forecast scenarios for the situation development in relation to the GDP growth/fall of the leading countries of the world are structured.

The authors’ calculations proved that, despite the risks and threats of fur ther sanctions escalation and other restrictions, the implemented macroeconomic policy of Russia and China ensures preser vation of their key socio-economic indicators, providing national sovereignty.

References:

1. US Debt Clock, available at: https://www.usdebtclock.org.

2. Global wealth databook. 2021. Credit Suisse, 2021, June, available at: https://www.credit-suisse.com/media/assets/corporate/docs/about-us/research/
publications/global-wealth-databook-2021.pdf.

3. National Defense Budget Estimates for FY 2023. Office of the Under Secretary of Defense. United States Department of Defense, 2022, July, available at: https://comptroller.defense.gov/Budget-Materials/Budget2023/

4. Temnaya zima: Dannye Tsentra bezopasnosti zdorov’ya Dzhona Khopkinsa [Dark Winter: Data from the Johns Hopkins Health Security Center]. Center for Health Security, available at: https://www.centerforhealthsecurity.org/our-work/exercises/2001_dark-winter/about.html.

5. Atlanticheskii shtorm: Dannye Tsentra bezopasnosti zdorov’ya Dzhona Khopkinsa [Atlantic Storm: Data from the Johns Hopkins Health Security Center]. Center for Health Security, available at: https://www.centerforhealthsecurity.org/our-work/exercises/2005_atlantic_storm/index.html.

6. Meropriyatie 201: Dannye Tsentra bezopasnosti zdorov’ya Dzhona Khopkinsa [Event 201: Data from the Johns Hopkins Health Security Center]. Center for Health Security, available at: https://www.centerforhealthsecurity.org/our-work/exercises/event201/

7. Puteshestvie po Shveitsarii v usloviyakh pandemii COVID-19: polnoe rukovodstvo na dekabr’ 2021 goda [Traveling Switzerland During the COVID-19

Pandemic: The Ultimate Guide for December 2021]. Swiss Info, 2021, 2 dekabrya, available at: https://www.swissinfo.ch/eng/business/wealthy-enjoy–benefits-

-of-the-covid-19-pandemic/46725912.

8. Milliardery [Billionaires]. Americans for Tax Fairness. 2022. 14 aprelya. URL: https://americansfortaxfairness.org/issue/tax-day-americas-workingfamilies-

paying-fair-share-americas-billionaires-not.

9. Vozvrashchayas’ k mezhdunarodnoi roli dollara SShA [Revisiting the International Role of the US Dollar]. BIS. Bank mezhdunarodnykh raschetov, 2022, 5 dekabrya, available at: https://www.bis.org/publ/qtrpdf/r_qt2212x.htm#:~:text=Approximately%20half%20of%20global%20trade,(see%20CGFS%20(2020)).

On improving the regulatory and legal support of strategic planning and management in the field of science and technology: problems and solutions

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».

Technological Sovereignty: Solutions at the Macroeconomic and Industry Level

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.

Analysis of the level of information development of countries using applied tools

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.).

Formation of the image of the company – the developer of computer games and protection of reputational risks

DOI: 10.33917/mic-2.109.2023.48-56

In modern conditions, rapidly developing technological innovations are the most important resource for the dissemination of information about the company. The ability of computer games to influence public consciousness was immediately taken into account by development companies, since it can perfectly act as a tool for promoting products of other sectors of the national economy. The potential of logical computer games that promote the perception of stereotypes through game images should be used more widely in the educational process.

References:

1. Industry of computer games. URL: https://dcenter.hse.ru/data/2020/07/27/1599127653/Industry%20computer%20games-2020.pdf

2. Egorova E. A. Game design and the concept of J. Huizinga: A look at CYBERPUNK 2077 through the prism of game theory // Humanitarian Bulletin. 2021;6 (92). URL: https://cyberleninka.ru/article/n/geymdizayn-i-kontseptsiya-y-hyoyzingi-vzglyad-na-cyberpunk-2077-skvoz-prizmu-igrovoy-teorii

3. Kara-Murza S.G. Mind manipulation. M.: Rodina, 2022. 432 p. (In Russ.).

4. Perelygina E. B. Psychology of image: Textbook. Moscow: Aspekt Press, 2002. 223 p. (In Russ.).

5. Decree of the Plenum of the Supreme Court of the Russian Federation of February 24, 2005 No. 3 «On judicial practice in cases of protecting the honor and dignity of citizens, as well as the business reputation of citizens and legal entities» // Russian newspaper. No. 50, March 15, 2005; Bulletin of the Supreme Court of the Russian Federation, No. 4, 2005.

6. Order of the Ministry of Finance of Russia dated December 27, 2007 No. 153n (as amended on May 16, 2016) «On Approval of the Accounting Regulation “Accounting for Intangible Assets” (PBU 14/2007)» // Russian newspaper. No. 22, 2008.

7. Belyaeva E. Yu. Management of the process of formation of the business reputation of Russian companies: dis. … cand. economy Sciences. Moscow, 2006. 223 p. (In Russ.).

8. Bykova Yu. N. Business reputation as a criterion for the financial stability of companies: dis. … cand. economy Sciences. Moscow, 2008. 155 p. (In Russ.).

9. Paton W.A., Littleton A.C. An introduction to corporate accounting standards. Monograph // American Accounting Association. 1940;3:156.

10. Kozyr N. S., Astakhov A. V. The video game industry in the modern sectoral economy // Regional Economics: Theory and Practice, 2017;15(5):953–966. (In Russ.).

11. TOP 10 gaming companies in the world for 2020. URL: https://invest-journal.ru/top-10-igrovyh-kompanij-v-mire?ysclid=lf28wu99iu405201745

12. Gaming companies that ruined their reputation. URL:  https://dzen.ru/a/XiLWVgpFGACyNBWu

13. Veklenko P. V. Methodology of EDUTAINMENT: Integration of non-specialized gaming applications into educational activities // Psychopedagogy in law enforcement agencies. 2021;3(86). URL: https://cyberleninka.ru/article/n/metodika-edutainment-integratsiya-nespetsializirovannyh-igrovyh-prilozheniy-v-uchebnuyu-deyatelnost

Modern instruments for regulating real estate investments

DOI: 10.33917/mic-2.109.2023.57-63

The relevance of the study is determined by the need to find solutions to problematic issues related to the formation of priority instruments for regulating investments in real estate. The experience, facts, and research of scientists and practitioners on the application of investment mechanisms in the real estate market have been studied from theoretical approaches to applied ideas of their modeling. A systematization of modern investment tools in real estate has been proposed, advantages and disadvantages have been revealed, and an assessment of the prospects for their application in the real estate market has been given.

References:

1. Makarov D. A., Yudenko M.N. Economic efficiency and financial risks in housing construction. Microeconomics. 2022;2:23-28. (In Russ.).

2. Abramov A. E., Akshentseva K. S., Chernova M. I., Loginova D. A., Novikov D. V., Radygin A.D., Sivai Yu. V. Economics of investment funds. Moscow: Publishing House «Delo». 2015. 720 p.

3. Sedipkova S. V. Mutual investment funds of real estate as a tool of collective investment in Russia and the USA. The world of economics and management. 2019;19(2):65-75. (In Russ.).

4. Taltavull P., White M.  The sources of house price change: Identifying liquidity shocks to the housing market. European Real Estate Society (ERES). 2013. URL: https://econpapers.repec.org/paper/arzwpaper/eres2013_5f187.htm/

5. Agrawal Ajay K., Catalini Christian, Goldfarb Avi. Some Simple Economics of Crowdfunding. Innovation Policy and the Economy. ed. Josh Lerner and Scott Stern, Univeristy of Chicago Press. 2014. pp. 1-47. URL: https://dspace.mit.edu/bitstream/handle/1721.1/108043/
Some+Simple+Economics+of+Crowdfunding.pdf;sequence=1

6. Veuger J., Nijland M. Influence of Blockchain in the Real Estate    Sector. 2019;2(2). URL: https://j.ideasspread.org/index.php/ijas/article/view/285

7. Saull A., Baum A. The Future of Real Estate Transactions. Report//Summary/. University of Oxford. 2019. URL: https://www.sbs.ox.ac.uk/sites/default/files/2019-03/FoRET ReportSummary_0.pdf/

8. Konashevych O. General Concept of Real Estate Tokenization on Blockchain. De Gruyter. 2020. pp. 21-65.  URL: file:///C:/Users/User/Downloads/10.1515_eplj-2020-0003%20(1).pdf/