The paper is devoted to characteristic of new industrial cities as a new type of industrial cities, formed under the new industrialization and digital economy. The authors developed and tested their own methodology for their selection based on the use of available data as well as the nature of the object of the research. The methods, applied for the research are statistical methods and methods for expert evaluation. Twenty-eight Russian cities could be regarded as new industrial ones. Most of them have more than 250,0 thousand people. The results may be used in investigation of new industrial cities from the economics, management, urban planning and others points of view. The presented methodology may be test for others countries except for the Russian Federation.

This article presents analysis of the creation background of the World Trade Organization (WTO) Trade Facilitation Agreement (TFA). The author identifies the main incentives for the development of trade facilitation measures and their inclusion on the Doha negotiations agenda. We summarized and described the major effects expected from full implementation by the WTO member states and the Russian Federation, in particular, of the Agreement the consideration centered round. We also note that the Agreement has a direct impact on the development of the Eurasian Economic Union (EAEU) law. We argue that at present the greatest potential effect from the implementation of the TFA provisions will be achieved through the application of trade facilitation measures in line with the development of unified approaches in their implementation in the EAEU member states. The main areas of the implementation are: Single Window mechanism, harmonization of control procedures and collaboration of state regulatory bodies, information exchange of state regulatory bodies within the framework of common processes. Some provisions under the Agreement can effectively contribute to the development of national initiatives, for example, the development of transit potential in the Russian Federation.

Active application of modern digital technologies is impossible without creating high technological basis for Russia’s economy, capable of effective implementation of such technologies. These processes assume the implementation of radical structural and technological modernization conversions applying different planning methods within the framework of state industrial policy. The most expressed forms of planning have been used by developed and «catching–up» economies primarily during radical modernization reforms. In this context, appealing to overseas planning experience seems to be of great interest. On the basis of foreign experts’ estimates, the author analyses the main directions in planning during the period of accelerated industrial-technological transformation in South Korea in the context of its possible use in Russia’s technological modernization. The experience of planning in South Korea is of special interest because it demonstrates the transformation in planning functions and methods according to the changes in socio-economic situation in the country and modernization goals set by the Government at different stages of development.

The article looks into the reasons underlying the outspread of the full-scale mechanism of banking regulation over U. S. investment banks. We analyze the effect of the Basel III standards on stress-resilience of investment banks and examine the role of U. S. investment banks in ensuring financial stability. Based on regression analysis we found that minimum capital adequacy standards of Basel III do not have negative effect on ROE of the U. S. investment banks that are G-SIB category-designate; however, additional capital requirements (Higher Loss Absorbency (HLA) surcharge) that depend on G-SIB’s systemic significance according to their bucket as per Financial Stability Board classification do have significant and negative effect on ROE in the post crisis period. Besides, leverage requirements that also depend on G-SIB’s systemic significance have a statistically significant effect on ROE.

In this paper we introduce the results of the research about the impact of financial development on the decrease in deviation of the real inflation rate from the central bank’s stated target inflation rate. Using methods of cluster analysis and panel procedures on a sample of the countries, which at the moment of writing the research officially stated to adhere to a policy of inflation targeting, we show that improving characteristics of financial development benefit the success of an inflation targeting regime (in terms of achieving its desired goal). It is also stated that for emerging economies the most vital channels of this mechanism are the increases in the efficiency and in the stability of financial markets and institutions.

This article provides the assessment of the impact of the buyer company’s financial position on the M&A effectiveness on the base of the pharmaceutical industry. We have estimated this correlation using OLS method and data for the period from 2005 to 2017. As a result, the hypothesis about the dependence of the M&A efficiency from the buyer company’s financial state has been confirmed. The developed econometric model have showed that more than 80% of variation of the cumulative abnormal return, received as a result of the transaction, is explained by growth rates of revenues and net profit, assets, current liquidity, autonomy and financial leverage, return of sales and assets at the transaction time.

In conditions of financial institutions’ development it is crucial to examine the transformation in the form of a collective investment institution under the influence of digitalization and, in particular, the emergence of cryptocurrencies. The subject of the research refers to the features of ICO functioning as a transformation of a financial institution for collective investment. The goal is to explore the ICO as a new form of collective investment. The results of the research are achieved through a comprehensive comparative analysis of ICO and IPO as a basic tool of financial institutions. The paper highlights the advantages and disadvantages, identifies the factors, analyzes the institutional regulation of ICO and proposes development vectors from three angles: for project creators, investors, regulators. The results can be used in policymaking, the functioning of joint investment platforms, in training specialists in the field of digital economy and financial markets.

The internet-retailing market is rapidly developing in the recent years, with an increasing number of consumers making online purchases. Growing market competition brings about greater variety of products and brands, growing purchasing power and the possibility to switch to competitors’ products in the internet. All these make the research on a consumer journey in the internet-retailing market relevant. This article presents the study of a consumer journey in the Russia’s internet-retailing market. The results of the empirical research are based on the responses of 2567 consumers. To analyze the consumer journey, we use several quantitative methods: descriptive statistics, analysis of variance and Tukey’s a posteriori multiple comparison test. In the course of the analysis, we describe four stages of consumer journey, as well as the main factors of loyalty formation. We identify groups of consumers that differ in their intention for future purchases and loyalty level based on the analysis of purchases’ frequency. The findings may be useful for further research on a consumer journey in the Russian internet-retailing market.

This paper reviews the behavior of medical tourists as an interdisciplinary object of study (evidence from Moscow region). We first examine the global medical tourism market, offering the classification of medical tourism trips from the perspective of consumer needs. We reveal the drivers for medical tourism development in emerging economies (drawing on India’s experience). We construct a conceptual model of overall satisfaction of medical tourists as consumers of combined tourist and medical services. In partnership with Moscow medical tourist agencies we conducted an empirical study to identify the factors of consumer behavior of outbound medical tourists. The analysis makes it possible to substantiate the relevance of the proposed model, as well as to identify a number of distinctive features of the medical tourism segment based on the identified features of Russian medical tourists’ behavior. We conclude with the implications to promote medical tourist destinations for Russia’s medical tourists and to form a tourism product that fully meets their needs.

To date Russian market of catering services is experiencing serious difficulty: there is a significant fall in visitors’ inflow in all market segments, except the fast-food segment. The decline in the number of visits is mostly caused by the economic downturn in the country which brings about the decline in population real income. As a result, there is a growing tendency for budget saving, switching to cheaper substitutes, or even abandoning the consumption of certain goods, such as visiting traditional restaurants. This leads to shrinking catering venues. But despite the hard times, some restaurateurs continue to open new venues, many of which are becoming successful. All successful institutions have much in common: specialized or unusual concept of the venue or advantageous location, with most new restaurants being opened in the centre of Moscow. The author finds it important to correlate the restaurant’s location with the system of visitor’s satisfaction. As a result, the author segments the consumers by the location factor and reveals the reverse dependence in restaurant location and place of residence.