ECONOMIC THEORY
The article investigates the evolution and essence of the concept of "real estate market" in the global economy. It is noted that the housing market is balanced in a specific competitive framework, formed under the influence of certain factors. At the same time, the demand for residential real estate in the global market is a complex interaction of various factors on a global scale, reflecting the dynamic nature of the real estate sector. The key factors influencing the demand in the global residential real estate market are systematized.
The work presents a classification of international trade models. The prevalence of economic and mathematical models of international trade is shown, within the framework of which the nature of the relationship between quantitative criteria reflecting various aspects of development of interstate trade and economic cooperation is usually analyzed. It is noted that organizational relations associated with the export or import of traditional goods can also be innovative, for example, international trade processes that include elements of outsourcing, crowdsourcing, virtual interstate franchising, etc.
The relevance of the study is determined by the fact that stock exchanges are currently not just mechanisms for buying and selling assets, but complex, dynamically developing ecosystems that have a significant impact on the global economy. Exchange trading is being actively transformed in the modern period under the influence of technological innovations, globalization and the emergence of new financial instruments. Exchanges are increasingly integrated into a single information space, which makes it necessary to understand vectors of this integration and its consequences for different countries. At the same time, new challenges are emerging, from cyber threats to geopolitical instability, requiring the development of adequate counteraction mechanisms. Studying these trends allows not only to adapt to changes, but also to predict the future of stock trading, forming effective strategies for investors and regulators.
The article presents a narrative history of the development of the economy as a process of its scientification – the acquisition of features that, under certain historical conditions, were characteristic of academic knowledge. The definition of scientization as a process of development of various fields of knowledge, acquiring rigor in the presentation of their provisions, subject area, methodology and practical significance is formulated. It is shown that within the framework of the narrative, a relevant presentation of the main stages of the evolution of economics is feasible. The sections of economic knowledge are designated: didactic (educational, school), popular science and expert economics, not included in the classification of J.N. Keynes. The distinctive features of economics are highlighted: randomness in the genesis, complexity of the structure, pluralism, long-term dominance of the ethical (normative, regulatory) component in science, the paucity of the main ways to prove economic hypotheses.
WORLD ECONOMY
Attracting capital, increasing competitiveness, minimizing reputational and regulatory risks, avoiding pressure from governments and international organizations – all these factors encourage organizations to adjust their development strategies towards socially responsible investment (SRI). The diversity of terms associated with the sustainability agenda, combined with changing investor expectations of SRI-related concepts, increases the likelihood of misuse of funds and misuse of terms (greenwashing), which may affect the credibility, demand and dynamics of SRI instruments. The relevance of the research topic is supported by the intensification of international organizations in dealing with SRI misinformation claims. Despite the annual growth rate of academic research, it focuses on the review of greenwashing of production processes, while the pattern of its formation, approaches to detection and prevention in SRI remain under-researched. In this study, the author aims to obtain a comprehensive overview of current approaches to detecting and preventing greenwashing. The methodological and theoretical basis of the research is the use of system analysis, which allows to ensure the integrity of the research, empirical and theoretical scientific methods (induction and deduction) are applied. It is noted that the most developed in the world is the ecological taxonomy of the European Union, on the basis of which draft laws on labeling SRI instruments are being developed. International organizations and regulators need each other's assistance in developing and creating common standards and international certification systems to increase transparency and reliability of company practices. An independent audit should be carried out for control purposes. The article investigates trends in SRI's antigreenwashing practices, and determines the attractiveness of SRI indexes for risk-averse investors.
REGIONAL AND SECTORAL ECONOMY
The work is based on the assumption that innovative development is inextricably linked to the development of regional economic systems, which is expressed in terms of the subjects of the federation by a number of statistical indicators, among which the most important is the GRP expressed per capita, as well as its dynamics, since innovative development is not a static phenomenon and may not lead to immediate results in this year. It would be reasonable to evaluate not only the actual value of GRP in statics, but also its accumulated change over a long period. However, despite the apparent logic of this hypothesis, it has found only partial confirmation. Regression analysis of regional indicators revealed a correlation only between unemployment rates and the innovative development of organizations in the subjects of the federation, as well as the dependence of socio-economic development indicators on the use of advanced production technologies. We attribute this to a large number of factors affecting economic performance and the fact that innovative development among them is far from decisive. However, the presence of more innovatively developed enterprises is obviously a competitive advantage of regional economic systems, which is reflected in higher quality indicators of regression models related to the impact of innovations on the unemployment rate.
Currently, the issue of the boundaries of combining traditional and modern methods of marketing research is debatable. The answer to this question is impossible without understanding how marketing research has evolved. A significant number of scientific papers are devoted to the review and study of new marketing research tools, but only a few authors focus on the need for a competent combination of traditional and innovative tools. The purpose of this work is to study the history of the development of marketing research, determine their place in the activities of a modern enterprise, identify the most significant trends and predict the results of the integration of classical and innovative methods of marketing research. The research methods include methods of collecting and processing secondary information: the method of traditional (classical) analysis and formalized methods – content analysis, information and target analysis. The basics of the concept of "marketing research" are considered. The author's definition of the term is formulated taking into account its compliance with modern market realities. The evolution of the development of marketing research in the context of decades since the late 1950s to the present is described. The stages of the evolution of marketing research and the development of the marketing concept are compared. The specifics of the formation and development of marketing research in Russia are reflected. The article highlights the issue of the current state of the industry and the legislative aspects of the functioning of foreign research companies in the Russian market. This issue is relevant for the government of the country in relation to the current political and economic situation. The trends of marketing research, which will be actively developed in the coming years, are analyzed. Considerable attention has been paid to the development of research in the online environment, and its prospects and scope have been assessed. The issue of the development of neurotechnologies and neuromarketing research is considered, the possibilities of these techniques are outlined and the emerging limitations are noted. The issue of cognitive safety and the need for the formation of cognitive immunity of society is raised. The dynamics of the development of the synthetic information sector has been studied. In conclusion, the author comes to the conclusion that modern challenges lead to a serious transformation of the market of marketing research, an increase in the level of interdisciplinarity and the need to combine traditional and modern tools in order to achieve maximum effect for business.
In modern conditions, the performance of prospecting and geological exploration becomes possible only after a thorough economic assessment. The ontology of a subject area is considered from the perspective of numerous researchers as a way of formally describing a given subject area, designed for an unambiguous interpretation of terms within its limits. In relation to the sphere of subsurface use, the creation of an ontology is especially relevant due to the significant amount of accumulated information resources. When conducting geological exploration, prospecting and exploration of the subsurface, it is necessary to rely on the existing basis of geological knowledge of a territory. In the process of performing an economic assessment on solid minerals, it is necessary to take into account the indicators of annual productivity in extraction and processing, losses, dilution, etc. These indicators affect both the current state of reserves in terms of the dynamics of their repayment, and the need for geological exploration in terms of the prompt elimination of the resulting shortage. At the same time, some indicators, such as the dimension of the object, the complexity of its development, the consumer properties of raw materials, and its natural quality, have a pronounced qualitative component in the evaluation process, which determines the need to involve experts. That is why the construction of an ontological model will make it possible to consolidate both quantitative and qualitative characteristics of the research object within a single structure. In this paper, an attempt is made to determine the availability of exploited raw materials using an abstract array of data on the available geological study of the territory using an ontological model.
The relevance of this study is driven by the necessity and opportunity to enhance the quality and improve various characteristics of auditing in the context of digitalization. The primary focus of the research is on the integration of artificial intelligence (AI) and big data technologies, capable of automating complex processes and minimizing risks associated with human factors. The aim of the study is to develop a model for integrating information technologies into audit processes. Special attention is given to the use of Russian digital solutions, which are functionally comparable to their foreign counterparts. The methodological basis of the study includes an analysis of scientific literature and practices of leading global audit firms (PwC, KPMG, Deloitte, EY), as well as a comparative analysis of the use of digital technologies in auditing. The result is the development of mathematical models and algorithms that minimize errors in identifying anomalous transactions and enhance the accuracy of audit procedures. The conclusion highlights the prospects for integrating AI and big data into auditing. The article also identifies limitations and risks associated with modern technologies and offers recommendations to mitigate them for successful IT integration into the company’s operations.
The article investigates theoretical and practical aspects of ensuring the economic security of enterprises, on the example of an enterprise of metallurgical complex. At present, ensuring the economic security of metallurgical enterprises is a government priority, which provides the relevance of the research topic. The problems of economic security and growth of metallurgical production are of practical importance. The solution to this problem is to form a model of economic security and determine the methods of its provision. The objective of the study was to summarize and systematize the most effective methods of ensuring the economic security and develop suggestions on how to improve its management on the basis of the study. Based on the results of the study, the key conclusions are as follows: the level of economic security of PJSC Norilsk Nickel is at a sufficient level; the risk management system is being improved and the methods of threat minimization are being upgraded to reduce the degree of risk impact; the risk management and internal control policy are being improved and implemented; the company has unrealized potential to improve the level of economic security with the implementation of various measures. In general, PJSC Norilsk Nickel was able to adapt to the new business environment, the company is developing dynamically, and its products are in demand and competitive in Russia and abroad.
FINANCE, MONEY CIRCULATION AND CREDIT
This article investigates the evaluation of the productivity of expenditures to budget programs on the example of the Republic of Kazakhstan. The reasonableness of budget expenditures is a fundamental factor in the further growth of the economy of any country. The applicability of the result-oriented budgeting model is theoretically justified, and a methodology for evaluating the content of budget programs according to the block of evaluating their productivity is developed. The approbation was carried out using the example of 61 budget programs of the Ministry of Health and the Ministry of Science and Higher Education of the Republic of Kazakhstan for 2023–2025. The results showed the inconsistency of the assessment methods used, since 61% of the programs do not contain productivity indicators corresponding to the goals and objectives, and the assessment methodology does not meet the standards. In the discussion of the identified problems, recommendations are proposed for the development of a methodology for evaluating the productivity of budget programs, including with regard to the assessment of the expenditure side.
The article analyzes new mechanisms for placing and attracting capital in Russia, and, primarily, alternative lending. Such types as fintech lending and crowdfunding are considered, which are a special mechanism for providing loans without a competent intermediary, where the responsibility for assessing the borrower's solvency falls directly on the lender. The research methodology is based on the use of graphical analysis methods, comparative analysis of empirical data, and the index method. The conducted analysis allowed the authors to identify the main trends in the development of the Russian crowdlending and fintech lending market: growing demand for online lending; development of embedded finance technologies; competition between fintech companies and traditional financial institutions on equal terms; growth in lending volumes in the crowdlending segment and the average loan amount in the context of an excess of creditors over the number of borrowers; as the crowdlending market develops, the level of its concentration increases; the main category of creditors in crowdlending are individuals, and borrowers are representatives of small and medium businesses. It is concluded that alternative lending methods are not able to displace traditional lending mechanisms to a significant extent, with fintech lending being able to compete with traditional lending institutions, while crowdfunding platforms are not so much competing with traditional financing methods, but are an alternative that is particularly attractive to SMEs as lenders.