MACROECONOMIC CALCULATIONS<\/p>\n
D.V<\/em>. Antonova, Yu. V. Vymyatnina GOVERNMENT FINANCE<\/p>\n N.A.<\/em> Pytel E.V. Sokolovskaya S.I. Protasenia FINANCIAL MANAGEMENT<\/p>\n M.V. Michaylov, T. N. Pervozvanskaja INSURANCE<\/p>\n S.B. Bogoyavlensky BANKING<\/p>\n E.V. Tikhomirova HISTORY OF FINANCE AND ACCOUNTING<\/p>\n S.N. Baryshnikov A BOOKSHELF<\/p>\n A. Silaeva REVIEW OF SCIENTIFIC EVENTS<\/p>\n I. Eliseeva SUMMARIES<\/strong><\/p>\n \u00a0D.<\/em>V. Antonova, Yu. V. Vymyatnina<\/em><\/strong><\/p>\n Identification and Forecasting of Credit Cycles in Russia<\/strong><\/p>\n The paper studies relation between credit cycles for different credit indicators and business cycle and its components\u2019 cycles (consumption, investment, government purchases) aiming at finding credit booms and forecasting change of tendency for the corresponding component of the business cycle. Using the credit boom detection method suggested by Mendoza and Terrones (2012) for analyzing Russian data for 2000\u20132016 we have discovered that cycles of credit to population and private non-financial enterprises are reliable predictors of the phase change for the corresponding components of the business cycle (consumption and investments). Our results are robust in relation to different modifications of credit indicators, deflator choice and the choice of scaling variable. This makes this method of credit cycle detection a good candidate for an early warning indicator for the purposes of macroeconomic policy.<\/p>\n Keywords<\/em><\/strong>:<\/strong> credit cycle; macroeconomic policy; theory of money; economic cycle.<\/p>\n \u00a0N.<\/em><\/strong>A. Pytel<\/em><\/strong><\/p>\n Monitoring and Evaluation of the Effectiveness of Regional Tax Incentives<\/strong><\/p>\n Tax incentives continue to play a key role on regional level, on the ground of tax policies implementation, despite of the increased volume of lost revenues, caused by enforcement of aforementioned policies. Monitoring of the tax expenditures on regional level is limited both by absence of inducement to interact with regional tax base and the poor quality of the established methodic basis of monitoring and assessment of efficiency of tax incentives. In the article, legal provisions for assessment of efficiency of regional tax incentives is analyzed and proposals for enhancement of current evaluation system, based upon the best practices on regional level, is formed.<\/p>\n Keywords<\/em><\/strong>:<\/strong> taxation; tax policy; regional taxes; tax incentives; the quality of public finance management; efficiency; effectiveness; methods; criteria; indicators.<\/p>\n \u00a0E.<\/em><\/strong>V. Sokolovskaya<\/em><\/strong><\/p>\n Taxation of Capital Income in the Open Economy: Basic Concepts and Current Trends<\/strong><\/p>\n The purpose of research is to provide the main theoretical approaches to taxation of capital income in the open economy, and also to reveal main trends in change of corporate income tax rates in countries worldwide. It were used both comparative and graphical analysis. The empirical analysis of corporate income tax rates in countries worldwide was provided. The analysis of existing theoretical background allowed us to conclude that if the government of a small open economy tends to encourage the domestic real investment by means of reducing taxes on capital income, it should concentrate on the reduction of source-based taxes on investment like the widespread corporate income tax. Also such analysis allowed to note that the main reasons of existence of source-based capital income tax are the obtaining of location-specific rents, imperfect capital mobility, the preferential taxation of income obtained abroad, the backstop of individual income tax, and the political limitations. The article provides an empirical analysis for five world regions: Africa, North and Latin America, Asia, and Europe. For each region we analyzed dynamics of average corporate income tax rates in countries of the region for the 2006\u20132016. We revealed both main trends and reasons of changes of this parameter for each region. The obtained results could serve as theoretical justification of directions of reforms of capital income taxation.<\/p>\n Keywords<\/em><\/strong>:<\/strong> corporate income tax; investment; open economy; rents.<\/p>\n S.I. Protasenia<\/em><\/strong><\/p>\n The Genesis of Road Funds in Russia<\/strong><\/p>\n In the article was investigated the history of the appearance and development of road funds in Russia from the point of view of the sources of their formation \u2013 road taxes and fees, allocates periods in the development of road funds and was given a description of the main trends in each of them. The dynamic was estimated from the point of view of assessment the conditions for the creation and reconstruction of road funds, justifies the need and proposes the main directions for the development of the concept of road funds.<\/p>\n Keywords<\/em><\/strong>: road funds; road taxes and fees; sources of formation; financial security; road activity; financing system; concept of road funds.<\/p>\n M.V. Michaylov, T. N. Pervozvanskaja<\/em><\/strong><\/p>\n In the articleare considered questions of the practical approach to the decision of cash management problem. It is proposed to use simulationin inventory control models. Simulation allows to optimize the parameters of the control strategy in the conditions of model prerequisites violation. In the article is considered the example of a single-level stock management model.<\/p>\n Keywords<\/em><\/strong>: <\/strong>simulation dynamic programming cash flow; control limit inventory model.<\/p>\n S.B. Bogoyavlensky<\/em><\/strong><\/p>\n Convergence of Financial Services in the Evolution of Life Insurance Products<\/strong><\/p>\n The life insurance develops through convergence with other financial services in a rapidly changing economic and social environment. The presence of legal and technical possibilities allow to insurers to meet the needs of customers with a high level of financial literacy. However, the experience of the introduction of converged products allows to highlight specific problems, in particular: the manifestation under certain conditions unexpected adverse properties; the complexity in government regulation, first of all, because of the multiple nature of the product; difficulties in perception of products with unusual and complex combination of properties from consumers.<\/p>\n Keywords<\/em><\/strong>: <\/strong>life insurance; convergence; financial services; insurance product.<\/p>\n E.V. Tikhomirova<\/em><\/strong><\/p>\n Outsourcing at the Market of Credit Banking Products: Current Restrictions and Options for Development<\/strong><\/p>\n Leading segment of the Russian financial market is the market of credit banking products. Strategy of financial market on 2016\u20132018 years as important condition its progress determined outsourcing (as optimal interaction of\u00a0 banks and institutions of credit products\u2019 market infrastructure). It help to increase in availability of banking products. But the interaction of banks and institutions of credit products\u2019 market infrastructure is restrained significant problems caused by weaknesses in legal framework and business processes of the infrastructure institutions. In the article is defined restrictions of interaction of banks and institutions of credit products\u2019 market infrastructure, offered adjustment of product line of these institutions according with banking demand changes, creation of effective legal framework.<\/p>\n Keywords<\/em><\/strong>:<\/strong> outsourcing; bank crediting; credit bureau; credit-rating companies; debt collection agencies; credit brokers.<\/p>\n M.N. Baryshnikov<\/em><\/strong><\/p>\n Company Bryansk Plant: Experience of Becoming a Large Corporation in the Pre-Revolutionary Russia<\/strong><\/p>\n This article encompasses the history of Bryansk rail-rolling, ironworks and mechanical plant JSC, tracing it back to 1900\u20131917. It showcases the corporation\u2019s development prospects being determined by various factors, including the way the stock capital formed (as it was dissipated by the structure), the ratio between own invested funds and borrowings, priorities in implementation of vertical integration, and intense use of manufacturing and managerial innovations. Not only did this reveal the corporation owners\u2019 ability to efficiently harmonize manufacturing, commercial, and investment activities, but it also showed their account taken of the sociocultural preferences of numerous shareholders. These factors, among others, finally allowed the owners to develop rather an efficient management system for their large-scale industrial facilities and adopt it to the business specifics typical of Russia in the early 20th centuries.<\/p>\n Keywords<\/em><\/strong>:<\/strong> Russia, history; industry; corporation; management; investments; interests.<\/p>\n","protected":false},"excerpt":{"rendered":" MACROECONOMIC CALCULATIONS D.V. Antonova, Yu. V. Vymyatnina Identification and Forecasting of Credit Cycles in Russia GOVERNMENT FINANCE N.A. Pytel Monitoring and Evaluation of the Effectiveness of Regional Tax Incentives E.V. Sokolovskaya Taxation of Capital Income in the Open Economy: Basic Concepts and Current Trends S.I. Protasenia The Genesis of Road Funds in Russia FINANCIAL MANAGEMENT […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/finbiz.spb.ru\/en\/wp-json\/wp\/v2\/posts\/1267"}],"collection":[{"href":"https:\/\/finbiz.spb.ru\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finbiz.spb.ru\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finbiz.spb.ru\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/finbiz.spb.ru\/en\/wp-json\/wp\/v2\/comments?post=1267"}],"version-history":[{"count":3,"href":"https:\/\/finbiz.spb.ru\/en\/wp-json\/wp\/v2\/posts\/1267\/revisions"}],"predecessor-version":[{"id":1313,"href":"https:\/\/finbiz.spb.ru\/en\/wp-json\/wp\/v2\/posts\/1267\/revisions\/1313"}],"wp:attachment":[{"href":"https:\/\/finbiz.spb.ru\/en\/wp-json\/wp\/v2\/media?parent=1267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finbiz.spb.ru\/en\/wp-json\/wp\/v2\/categories?post=1267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finbiz.spb.ru\/en\/wp-json\/wp\/v2\/tags?post=1267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n<\/i>Identification and Forecasting of Credit Cycles in Russia<\/span><\/p>\n
\n<\/i>Monitoring and Evaluation of the Effectiveness of Regional Tax Incentives<\/span><\/p>\n
\n<\/i>Taxation of Capital Income in the Open Economy: Basic Concepts and Current Trends<\/span><\/p>\n
\n<\/i>The Genesis of Road Funds in Russia<\/span><\/p>\n
\n<\/i>The Use of Simulation Methods in Stock Management when Modelling the Target Cash Balance of a Firm<\/span><\/p>\n
\n<\/i>Convergence of Financial Services in the Evolution of Life Insurance Products<\/span><\/p>\n
\n<\/i>Outsourcing at the Market of Credit Banking Products: Current Restrictions and Options for Development<\/span><\/p>\n
\n<\/i>Company Bryansk Plant: Experience of Becoming a Large Corporation in the Pre-Revolutionary Russia<\/span><\/p>\n
\n<\/i>Pyabyshkin B. T. Development of socio-economic statistics (Russian experience: 1990\u20132010).\u00a0<\/span>M.: Information and Analysis Center \u201cStatistics of Russia\u201e, 2017<\/span><\/p>\n
\n<\/i>Seminar in Leontief Center: S.A. Vasiliev. Philosophy of the history of Yegor Gaidar. July 10, 2017<\/span><\/p>\n