THE ASSESSMENT OF SOCIO-ECONOMIC POTENTIAL DENSITY OF ARCTIC TERRITORIES IN RUSSIA

Vyacheslav L. BABURIN

Professor, Department of economic and social geography of Russia, Faculty of Geography, Lomonosov Moscow State University, Moscow, Russia.

baburin@yandex.ru

Vladimir S. TIKUNOV

Professor, Integrated Mapping Laboratory, Faculty of Geography, Lomonosov Moscow State University, Moscow, Russia.

vstikunov@yandex.ru

Svetlana V. BADINA

Department of economic and social geography of Russia, Faculty of Geography, Lomonosov Moscow State University, Moscow, Russia

bad412@yandex.ru

Olga Yu. CHERESHNIA

Researcher, Integrated Mapping Laboratory, Faculty of Geography, Lomonosov Moscow State University, Moscow, Russia.

chereshnya.o@yandex.ru

Abstract

The socio-economic potential is an important indicator that systematically characterizes a specific territory with its economic specifics, as well as the opportunities for its future development.  The article presents a methodology for assessing the density of social and economic potential. The integral index of the socio-economic potential density of the territory takes into account the basic spatial characteristics (indicators): The density of the population concentrated on a given territory, the volume of fixed assets, as well as the level of economic development, defined as the accumulated volume of gross production per area of the economically developed space.  On the basis of this method the estimation of the density of social and economic potential of Russian Arctic territories was carried out, a rating was obtained and a classification was made. Allocated 5 density types of socio-economic potential: metropolitan and industrial; urban and industrial; mixed, mainly West-Central; mixed, mainly Western; peripheral.

Keywords: socio-economic potential, arctic territories, index, classification

JEL classification:
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ANALYSIS OF THE IMPACT OF FOREIGN INVESTMENT ON THE COMPETITIVENESS OF RUSSIAN COMPANIES

Anna A. KHRYSEVA

Ph.D. in Economics, associate professor at the department of «World economy and the economic theory», Volgograd state technical university, Volgograd, the Russian Federation

inpro-mba@mail.ru

Olga E. AKIMOVA

Ph.D. in Economics, associate professor at the department of «World economy and the economic theory», Volgograd state technical university, Volgograd, the Russian Federation

akimovann25@mail.ru

Olga A. SAVCHENKO

master of science in economics at the department of «World economy and the economic theory», Volgograd state technical university, Volgograd, the Russian Federation

holga.ales@gmail.com

Abstract

The article analyzes the impact of foreign investment on the competitiveness of Russian companies. Capital mobility is growing rapidly in the 21st century owing to the processes in the world economy, such as globalization, internationalization, and also due to the established single market of goods and services. The enhancement in the competitiveness of companies becomes an essential requirement of the world market. Unfortunately, it is often impossible for many companies to reach a technological progress and increase the efficiency of corporate social responsibility using only its own funding without attracting a foreign capital. Based on the analysis, conclusions are reached and practical recommendations are offered.

Keywords: competitiveness, net outflows, FDI (foreign direct investment), portfolio investment, and volatility

JEL classification: M21, O11, R11
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INVESTIGATING THE EFFECT OF FINANCIAL INNOVATIONS ON THE DEMAND FOR MONEY IN AUSTRALIA USING DOLS AND FMOLS AND COMPARING THEIR PREDICTIVE POWERS

Payam MOHAMMAD ALIHA

Ph.D candidate, Universiti Kebangsaan Malaysia (UKM), Malaysia

payammaliha@gmail.com

Tamat SARMIDI

Associate Professor Dr. at Faculty of Economics and Management, Universiti Kebangsaan Malaysia (UKM), Malaysia

tamat@ukm.edu.my

Fathin FAIZAH SAID

Dr. at Faculty of Economics and Management, Universiti Kebangsaan Malaysia (UKM), Malaysia

fatin@ukm.edu.my

Abstract

In this paper we apply two different estimation methods, namely DOLS and FMOLS to estimate real demand for money in Australia with the inclusion of financial innovations. We use a conventional money demand function that was enriched with a proxy for financial innovations. This sum of the number of cheques, credit cards, charge cards, ATM and direct entry payment was included in the regression model to proxy the effect of financial innovations on the money demand. The results indicate that the estimated coefficient of TPI using DOLS is not significant yet it is highly significant using FMOLS and it bears positive sign so that 1 percent increase in TPI leads to the increase of money demand by 0.24 percent. Also, using “Root Mean Squared Error” as the benchmark for predictive power, we conclude that FMOLS is superior to DOLD when it comes to forecasting.

Keywords: financial innovations, money demand, dynamic OLS, fully modified OLS, forecast

JEL classification: E41, E42, E52
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