The article provides the analysis of the relationship between the rule-making activity of Russia's state authorities: parliament, president, government and federal executive bodies. The analysis of Granger causality, carried out for statistical series of federal authorities rulemaking activity, indicates that the level of laws specification largely determines the level of by-laws specification (government decrees and orders of federal executive bodies), thereby exerting a significant impact on entire Russian regulatory framework volume. Econometric analysis based on a corpus of federal laws and aggregated corpus of regulations shows that the entire rule-making activity of the Russian parliament and federal authorities is explained by overlapping sets of factors. The findings indicate that to consolidate the effect of the “regulatory guillotine” it may be useful to develop mechanisms (procedural rules) that correct the balance between the pace and quality of developing legislative initiatives.

The research addresses the essence and outcomes of the convergence between national accounting and reporting systems (NARS) influenced by international financial reporting standards (IFRS). The aim of the study is to identify and examine the main elements of this process and its peculiarities in Russia; to highlight and evaluate the consequences of such convergence; to determine the areas for improving the effectiveness of NARS taking into consideration its current state. The methodology is based on the use of general scientific methods of theoretical and empirical research, including expert assessments and comparative analysis which allows to evaluate the changes observed in NARS. The findings help summarize and analize the organizational aspects of NARS elements transformation in the process of convergence under IFRS impact, including imbalances both in the NARS itself and in the relation between the NARS elements and other systems underlying the national market economic structure. The analysis concludes with an assessment of its effect on the NARS. The results will be of interest to specialists in the field of accounting and reporting as well as to regulatory agencies that implement state interests in this area.

The efficiency of economic development in the context of globalization and international integration is largely determined by the human capital accumulated and realized in the country. Modern science-intensive technologies require highly skilled specialists, engineers, and workers of technical professions. This becomes possible when using human capital of a new qualitative level, which makes it necessary to solve a number of methodological problems in terms of qualitative changes in the process of its formation. The aim of the study is to analyze the main approaches to the assessment of human capital and to develop proposals for its most objective assessment at various levels of manifestation — individual, micro- and macroeconomic. The article discusses the main methods for evaluating human capital: retrospective (based on the costs of its production) and perspective (based on income derived from the use of this capital). The proposed indicators of the qualitative state of human capital are aimed at its assessment from a new perspective, taking into consideration current global trends in the formation of innovative economy and digitalization.

The paper provides the solution to the problem of an integrated classification of existing bankruptcy prediction based on the content analysis of 270 relevant foreign and Russian publications issued within a period of 1910—2020. The author identifies two main groups of models— normative and positive, with the latter categorized into expert, mixed and objective including traditional statistical models and artificial intelligent techniques; and considers the specific features of certain predicting models, their advantages and disadvantages. He then reveals the economic content of such models and the set of ratios applied for identifying company's financial distress with the following conclusions: approaches to the variables selection are rarely justified, indicators are usually borrowed from previous models or generated automatically by the database configuration; the accounting approach to bankruptcy forecasting based on financial ratios prevails and has serious limitations for Russian companies; the most significant market, value and qualitative variables indicating a decline in the business financial stability are highlighted. Significant limitations of the general use of bankruptcy prediction models for making decisions aimed at insolvency prevention are identified: the inability to anticipate the impact of informal factors that are irregular, unable to extrapolate, and affect companies in different ways; the need to take into account the economic conditions of the national economy, financial reporting standards, and the level of availability of diverse data; the impossibility of creating a universal indicative basis to identify decline of sustainability of any business due to the high volatility of operating conditions in Russia. Bayesian methods and nowcasting, as well as the development of forecasting models for certain industries, are promising areas for the development of modern approaches to bankruptcy prediction, but the fundamental activity for preventing insolvency is not forecasting by models, but the implementation of continuous monitoring of the overall business performance in relation to influencing market, operational, investment, financial, managerial and organizational factors, taking into account significant qualitative variables.

In the context of transition to low-carbon development, carbon price is rapidly gaining ground all over the world. Discussions on its implementation are under way in Russia as well. However, the use of carbon price as an indicator can be compounded by certain risks. In practice, to overcome them depends on the ability of carbon price designing to take into account the specifics of a country or industries where the regulation is introduced. The regulator needs to determine the specifics of carbon pricing, identify the acceptable degree of regulation and coverage of carbon price; consider the consequences for vulnerable sectors of population, companies, etc. The study aims at systematizing theory and practice of carbon pricing across various countries and regions of the world economy. Drawing on the analysis of fundamental and empirical works, the authors identify the factors that limit the effective use of carbon price; classify the key elements of carbon pricing design. Based on the analysis of international experience, the article provides recommendations on the development of a system for regulating carbon in Russia.

The article is dedicated to the problem of identifying strategic groups in the business education market. The authors conducted a systematic review of publications on the topic. The object of the research is the developed markets of business education in the USA and Western Europe, the subject of the research is the groups of relatively homogeneous educational institutions that demonstrate similar strategic behaviour (strategic groups). For researchers, dividing market participants into strategic groups is the basis for identifying efficiency factors in the respective groups, and for heads of educational institutions and market regulators, it is a prerequisite for constructing meaningfully interpreted rankings and business school ratings. The purpose of the work is to identify trends in changes of the business-schools grouping approaches and the factors underlying such groupings. The authors revealed a shift of researchers' the emphasis from the characteristics of educational programs offered by schools to the positioning of schools in a wide social and educational environment. Although the strategic analysis level is growing, the discussion topic remains fragmented and covers only a part of the business education markets.

The article examines the evolution of advanced technologies and its impact on the development of the economy. The processes of mutual influence of advanced industrial technologies and trends in the formation of technological structures attract the attention of economists, engineers, and sociologists. A human being is constantly trying to conceive the algorithms for assessing mutual influence of advanced technologies on technological progress, on global and national economies. Scientific discussion will lead to valuable practical results if scientists speak «the same language», use a unified interpretation of technical, economic, statistical, social terms. It is crucial to place social aspects of technological progress in the forefront since technological development is to solve the problem of the most technological or economical satisfaction of human needs. The purpose of this work is to investigate the existence of mutual relationship between the use of intellectual property and the economic development of Russia's manufacturing industries. The methodology is based on the principles of the consistency of scientific research, objectivity, causation of phenomena in the economy. The paper applies the methods of economic and statistical analysis and presents a brief overview of scientific publications on the impact of advanced technologies on economic development for the period of 2018-2020. The author puts forward a hypothesis that an empirical analysis of advanced technologies in the production of electronic products will show the degree of patents influence on industry productivity. The findings demonstrate that technologies have a weak influence on productivity both on the economy at large and in manufacturing industry. Therefore, patenting the technologies should be scientifically substantiated and it is imperative to confirm the promise of advanced technologies for sustainable development.

The purpose of the article is to assess the possibility of using cluster policy in Russia's industry as an instrument for developing dynamic competition (encouraging innovation activity). Drawing on the results of a detailed systematic review of the cluster theory, the author identifies the reason for its weak operationality: an implicit premise on entrepreneur's passive role in the innovation process. He then attempts to remove this premise by explaining the motives of company's behavior through a modified product variety model which is tested on empirical data from the U.S. and Russia. The results of testing show that at similar level of economic activity the geographical concentration of industrial enterprises in a cluster contributes to the intensification of innovation processes. A relatively more competitive behavior of firms in a cluster is explained through the theory of industrial markets and new institutional economic theory. The analysis concludes with valuable recommendations for economic policy.

The article defines the role and reveals the need to create subsidiary crafts as a necessary component for modifying and improving the innovative development of an agricultural enterprise. The author carries out the analysis of the state and development of subsidiary crafts at agricultural enterprises in the Nizhny Novgorod region. The relevance of the study is explained by the fact that in conditions of rural development, each agricultural enterprise to a certain extent correlates with the development of subsidiary industries and crafts. The purpose of the study is to diagnose the development of subsidiary fisheries in the regions and analyze the prerequisites for their creation. The subject of the study is subsidiary fisheries in the Nizhny Novgorod region. The methodological basis of the research relies on scientific methods based on the requirements of an objective and comprehensive analysis of the state and development of subsidiary fisheries in the region. Drawing on the results of the study, the author identifies the changes in the state of subsidiary fisheries at the regional level and determines the prerequisites for their development in the future.

The article addresses a new mechanism of interaction of Russia's higher education and the sphere of labor. New challenges facing modern higher education are predetermined by digital transformation in the sectors of the economy and changes in the structure of the labor market resulted from the development of digital technologies. The author shows how the application of modern digital technologies affects the transition to a new digital format of training, radically changing the paradigm of university development, scientific and educational activities, and also organizing the work to attract and retain young talents. Finally, the author provides valuable conclusions concerning specific development of digital educational environment in the sphere of higher education.

The purpose of the study is to characterize the Russian model of monetary circulation during the transition from pre-capitalist forms of economy to a relatively developed capitalism in the late XIX century. The paper provides the analysis of theoretical ideas on the specifics of metal, paper and credit instruments of circulation. The key principles of the Russian model of monetary circulation are formulated in the programs of statesmen (M. M. Speransky, E. F. Kankrin, S. Yu. Witte), in the works of economists who presented alternative concepts of money, the theoretical provisions of which formed the conceptual «core» of the new monetary system. The article reveals the features of quantitative approach of N. I. Turgenev, who was the first to analyze the factors of inflation development associated with issue of banknotes, and possible scenarios of monetary reform aimed at its mitigation. The author identifies fundamental differences in the methods of reforming Russia's monetary system in 1839-1843 and 1895-1897, considers the characteristic features of the new system of «state credit money», the concept introduced by M. M. Speransky, and the criteria for its stabilization. He then shows that the concept of «state credit money» arose at the intersection of the interests of market and state economy and reveals the role of state and commercial institutions in forming a new model of monetary circulation. The paper reveals the specifics of the domestic monetary system during the transition to capitalist production. The study contributes to the development of the theory of money, as it shows the relationship between the evolution of national economic system, the model of monetary circulation and the instruments of state regulation of the market situation. The author concludes that the changes that occurred in the theories of money are a reflection of changes in the monetary system itself and state monetary policy during the periods of economic transformation.

The article examines the tradition of teaching economic theory at Moscow University since the late 19th to the early 21st century through basic textbooks, which reflect the specificity, theoretical and practical problems of the corresponding historical periods. The narrative proposed shows the emergence of innovative textbooks that embody the breakthroughs in both the subject and method of economic theory and the methodology for its teaching. Apprehension of students and recognition of colleagues have become well-deserved attributes of manuals by A.I. Chuprov, N.A. Tsagolov and Yu.N. Cheremnykh. As well as many others, they absorbed, developed, and passed on from generation to generation the experience of teaching fundamental economic disciplines. Drawing on the «pendulum principle» widely used in the research of various intellectual thoughts, the authors show the main features of the new generation of textbooks that will be in demand by students and teachers shortly. While maintaining consistency in reflecting economic reality, the new manuals should meet the requirements of digital economy, such as fundamental and, at the same time, practical orientation of students. According to the authors, basic courses and textbooks on economic theory will be more interactive while their content expansion will occur due to behavioral aspects at both micro- and macrolevels. That will allow students to learn the principles of mainstream and alternative theoretical approaches to solving urgent practical problems.