Ideas and Ideals

The global economy has long demonstrated an increase in the scale of trade, leading to the openness of economic systems. National economies benefi ted from participation in the international division of labor due to the effects associated with the exploitation of comparative advantage, as discovered by the 18th-century political economist David Ricardo. Recent events indicate that this benefi cial process of global economic integration has come to an end. Here are the key facts: the widespread use of sanctions is turning them into a weapon of war; tariff blackmail, which the US uses to force the world to accept its terms of trade, is disrupting global value chains; the active formation of political and economic unions creates a protective barrier for the global South from the dictate of the global North, but at the same time weakens ties to sources of capital and technology – all of this is evidence of the disintegration of global economic ties, the emergence of a trend toward the localization of trade processes and the closure of economic interactions within local unions. This process has received the not yet widely used term ‘introversion’ in the literature. This study assesses trade introversion within BRICS since its inception. There are many theories regarding the founding of BRICS, ranging from Yevgeny Primakov’s proposal of a multipolar world in 1994 to the fi rst BRICS summit held in Yekaterinburg in 2009. The author favors the latter interpretation. BRICS is characterized by its amorphous nature, informal procedures, and relaxed governance practices. Nevertheless, BRICS has demonstrated a high degree of coordination in the trade policies of its member countries, as demonstrated by the study’s results.

For the purposes of this study, a simple statistical indicator, called the Trade Extroversion Index, was developed due to the fact that an introversion index already exists in the literature. The extroversion index addresses the same objectives as the introversion index, but has signifi cant advantages. UN databases serve as the statistical basis for the calculations.

This article examines the concept of ‘financial culture,’ which is particularly relevant in today’s dynamically developing world. The author draws on various theoretical concepts used to defi ne and measure financial culture and offers a classification of approaches to studying this phenomenon. Particular attention is given to empirical studies aimed at identifying the relationship between financial culture and the socioeconomic characteristics of individuals and society as a whole. The article describes the main areas of research devoted to determining levels of financial culture in various population groups, identifying the factors influencing its development, and evaluating the effectiveness of existing educational initiatives in this area. The author also examines international practices in developing financial culture, analyzing the experience of international authors such as Boyd R., Richardson P., Weber M., Parsons T. O., Rickert G., Scheler M., Stern A., Csorba L., and Hofstede G.

In preparing this article, classical theoretical research methods were applied, such as analysis, synthesis, generalization, classification, and a historical approach, allowing for a thorough examination of the subject and the formation of objective conclusions.

As a result of this study, the author concludes that the development of the concept of financial culture has undergone significant changes. In the 19th century, authors examined financial culture, focusing on the influence of institutional factors (savings, use of classical instruments), but modern research emphasizes the level of financial education, responsibility, and behavioral aspects of individuals in the financial sphere.

The author of the article proposes a framework for financial culture, consisting of the following components: financial literacy, financial skills, attitudes, and human behavior. This framework transforms the abstract idea of financial culture into a concrete object of study that can be measured, analyzed, and used to propose scientifically sound development strategies.

The conclusion highlights prospects for further research in studying the factors influencing the formation and development of financial culture in Russian society.

In the new geopolitical environment, the mineral fertilizer (MF) industry and market have undergone signifi cant changes. This has also affected Russian fertilizer producers, who are forced to diversify their foreign trade relations and reorient themselves toward countries in the Global South–Asia, Africa, and Latin America. This research focuses on the economic relations surrounding the export activities of Russian MF organizations and their strategies for entering foreign markets. This article was prepared using qualitative and quantitative methods, including comparative analysis, statistical analysis and market analytics, economic analysis of MF producers, and text visualization techniques. The extensive information base encompassed publications by Russian and international scholars; analytical materials from agencies, foundations, and associations; data from the Russian Government, Rosstat, and documents from UN and OECD departments. Conclusions were drawn regarding the dynamics of production volumes, exports, and foreign and domestic prices for key mineral fertilizers from 2011 to 2024, as well as the concentration level in three mineral fertilizer markets. Based on the developed classifi cation of types of strategies for foreign trade activities of organizations, the strategies of two leading Russian organizations producing nitrogen and phosphorus fertilizers are characterized. The institutional conditions for implementing export activities were examined. The conclusion presents prospects for the development of the mineral fertilizer industry, taking into account environmental and technological changes. The results of the study may be useful in the planning and analytical work of organizations producing mineral fertilizers, government agencies, and in the educational process in the areas of global economics and international business.

Financial stability is one of the main concepts in the economy of an enterprise, demonstrating its ability to develop, remain competitive and solvent, as well as rationally manage its obligations. Financial stability is a characteristic reflecting the potential of an enterprise and its investment attractiveness. The variety of methods for assessing financial stability leads to the fact that their application gives different and sometimes contradictory results, which is due, among other things, to the lack of emphasis on the specifics of the company’s activities. This highlights the importance of choosing the right methodological approach for assessing this financial condition parameter. The purpose of the study is to develop an analytical tool for assessing financial stability. The object of the study is the financial stability of manufacturing enterprises, and the subject is the analytical tool for assessing it. A comparative analysis of traditional and modern methodological approaches to assessing financial stability revealed the advantages and disadvantages of each approach. The features of production processes at enterprises were systematized, and their possible impact on the structure of resources and indicators of f nancial stability was shown. Correlation and regression analysis was used in the development of the author’s methodology for assessing the financial stability of production enterprises. The proposed methodology takes into account specific factors and eliminates the disadvantages of the most common traditional methodological approaches. The resulting model is significant and clarifying in nature, as it clearly demonstrates the degree of influence of various aspects of the financial and economic activities of the enterprise on its financial stability, which makes it possible to make informed management decisions aimed at minimizing risks and improving the effi ciency of the enterprise as a whole.

The business activity of trading enterprises is the most important indicator of business success, signifi cantly affecting the development and productivity of
companies, as a result of which it needs continuous monitoring and detailed study. Business activity analysis helps to identify problem areas and competitive advantages of retail chain organizations, formulating ways to improve operational effi ciency. Due to the fact that the level of business activity is an indicator of effective resource management and there are many methods for analyzing
business activity, some of which identify it with turnover analysis, this topic is important for research. The object of the study is the business activity of a trade organization; the subject of the study is methodological approaches to the
analysis of the business activity of a trade organization. The object of surveillance is LLC “OKEY”. The study of various scientifi c methods for assessing the business activity of an enterprise has shown that an integrated approach has
the greatest objectivity. For example, the assessment system proposed by D.A. Endovitsky, which characterizes business activity of a complex nature, includes the study of qualitative and quantitative components, dynamic changes,
structure and cash fl ows in all areas of the organization’s functioning, but does not pay due attention to the specifi cs of the industry in which the organization operates. Modern scientifi c publications often underestimate the importance of
taking into account industry specifi cs when assessing business activity, emphasizing the need for further research in this particular area. Taking into account the
specifi c features of the functioning of trading organizations, it is advisable to include in the analysis of their business activity such numerical indicators as asset
turnover in the form of right of use, inventory turnover, accounts receivable and payables, return on investment in rent, as well as qualitative indicators: the breadth of the trading network, the consistency of suppliers of products,
customer satisfaction, competitiveness, business reputation and others.

In the international academic community, U.S. economic statistics enjoy a reputation for exceptional reliability, with the United States consistently placed among the highest-ranked countries for accuracy in measuring GDP dynamics. To evaluate the foundation of this confi dence, the authors draw on their experience conducting alternative GDP estimates for the USSR, Russia, India, and China. This study examines the precision of U.S. economic statistics over the period 1970–1987 in three sectors – industry, construction, and agriculture. GDP volumes at current prices were defl ated using the manufacturing output price index for the processing industries and the fuel-price index for the extractive industries. The resulting alternative estimates of industrial GDP were compared with the offi cial fi gures published by U.S. statistical agencies. The offi cial GDP index in construction was checked based on the dynamics of housing commissioning and the share of housing construction in the total construction volume. In general, the analysis of statistics on the dynamics of US economic GDP confi rmed a high assessment of its reliability for the period 1970–1987, with the exception of price statistics.

Doubts about the reliability of American statistics for 1970–1987 arise when comparing favorable offi cial indicators of GDP dynamics with a large increase in the US national debt and a small (3-4%) share of construction in GDP for the period from 1990 to 2010. To assess the real dynamics of US GDP, natural indicators of production were adopted. They allow us to move on to calculating the dynamics of production in sectors of the economy that raise doubts about their reliability: manufacturing and construction. The greatest diffi culties arose with assessing the dynamics of the service sector. The authors assumed that labor productivity in it remained unchanged.

The calculations of the dynamics of production and labor productivity for 1990-2010 by sectors of the real economy showed an unprecedented drop in labor productivity in American economic history, which indicates deep troubles in the American economy during this period. The calculation of an alternative estimate of GDP dynamics revealed minimal growth indices: by 8% in the 1990s and by 4% in the 2000s, instead of the offi cial growth of 38% in the 1990s and 18% in the 2000s. Both estimates reveal a signifi cant slowdown in economic development in the 2000s. Possible reasons for this are considered. A conclusion is made about the most serious defects of American economic statistics in the period from 1990 to 2010.

Return on assets is an integral indicator that characterizes the effi ciency of using an organization’s property, which determines the need to identify reserves for its improvement, and this, among other things, is possible in the process of applying factor analysis. However, traditional models of return on assets do not refl ect the specifi cs of organizations’ activities, which determines the conduct of factor modeling and the development of new factor models. The purpose of this work is to develop tools for factor analysis of the profi tability of an organization’s assets and to develop a new model of profi tability of assets that takes into account the specifi cs of the activities of power generating organizations. Quantitative and qualitative methods were used to achieve this goal. Qualitative methods included analogy and comparative analysis, which made it possible to identify the specifi cs of the activities of power generating organizations. Quantitative methods covered the methods of economic analysis: horizontal, vertical, factorial, coeffi cient. The use of modeling made it possible to form a new fi vefactor asset profi tability model. The use of tabular and graphical methods made it possible to visualize the results of the study. Among the identifi ed specifi c factors for electric generating companies, it is worth noting the specifi c operating costs, capacity potential and capacity utilization factor. The results obtained can be used by power generating organizations in the process of managing the effi ciency of their assets.

In the context of turbulent political events on the world stage, economic ties are being restructured and the infl uence of global economic institutions is being reassessed. Changes in the economies of various countries affect the standard of living of their populations. The United States is an active driver and provocateur of turbulence and instability of the world order. Such events include hybrid wars against countries undesirable to the West, including Russia. In this regard, it becomes interesting to fi nd out what is happening inside the United States itself. The purpose of the study is to identify the presence of income inequality in the United States, as well as its causes and trends in recent years. In this regard, an analysis of the income of American citizens in divergence by race and gender for 2000-2023 was conducted. In addition, the dynamics of the coeffi cients characterizing the degree of income inequality of the population for the same period is considered. According to the results of the study, income inequality by race and gender in the United States remains, although it has been slowly decreasing over the years. At the same time, income inequality between the rich and the poor is growing. This inequality is particularly exacerbated during periods of crisis.

The study of the impact of the price level on the economic results of the system was carried out taking into account the degree of economic integration of participants in the system. Moreover, if the prices of intermediate products supplied to the market are relatively high, then the decrease in the volume of production of the main product of the focus company may reach a critical level at which the expediency of creating a structure for the production of a high-tech product in such quantities will be questionable. This case determines the need to regulate the level of transfer prices.

To study the tasks as a formal tool for describing the functioning of the system, matrix modeling based on the methodology of intersectoral balance (MOB) was used, economic and mathematical models were proposed that include supply and demand conditions in determining domestic prices. The results of the study contribute to an understanding of the optimal internal pricing policy of a company with horizontal and vertical links.

The study of the impact of the price level on the economic results of the system was carried out taking into account the degree of economic integration of participants in the system. Moreover, if the prices of intermediate products supplied to the market are relatively high, then the decrease in the volume of production of the main product of the focus company may reach a critical level at which the expediency of creating a structure for the production of a high-tech product in such quantities will be questionable. This case determines the need to regulate the level of transfer prices.

The object of consideration in the article is a production and technological chain consisting of fi rms with vertical and horizontal interaction. The purpose of the parent company in such a structure is to manufacture complex products, the components of which are component products supplied by the companies entering the system along technological chains. An important element of the functioning of such systems is the level of internal (transfer) prices for products supplied along the chain. The choice of an approach to the formation of the level of internal prices signifi cantly affects the performance of each participant in the chain and the system as a whole.

The scientifi c novelty of the study is the deepening of the methodological base for describing the interaction of participants in the production and technological chain in the process of forming internal prices. The article presents the results of a comparative analysis of the application of two approaches to determining transfer prices – at the cost level and using the “cost plus” method. It has been established that the formation of internal prices between interdependent entities based on market mechanisms gives worse results for the parent company in the chain than at prices equal to costs.

The object of consideration in the article is a production and technological chain consisting of fi rms with vertical and horizontal interaction. The purpose of the parent company in such a structure is to manufacture complex products, the components of which are component products supplied by the companies entering the system along technological chains. An important element of the functioning of such systems is the level of internal (transfer) prices for products supplied along the chain. The choice of an approach to the formation of the level of internal prices signifi cantly affects the performance of each participant in the chain and the system as a whole.

The scientifi c novelty of the study is the deepening of the methodological base for describing the interaction of participants in the production and technological chain in the process of forming internal prices. The article presents the results of a comparative analysis of the application of two approaches to determining transfer prices – at the cost level and using the “cost plus” method. It has been established that the formation of internal prices between interdependent entities based on market mechanisms gives worse results for the parent company in the chain than at prices equal to costs.To study the tasks as a formal tool for describing the functioning of the system, matrix modeling based on the methodology of intersectoral balance (MOB) was used, economic and mathematical models were proposed that include supply and demand conditions in determining domestic prices. The results of the study contribute to an understanding of the optimal internal pricing policy of a company with horizontal and vertical links.

The sanctions policy on the part of unfriendly countries has forced the domestic tourism market of Russia to develop rapidly. For a better understanding of what is happening in the tourism industry, it is necessary to conduct a review of the market as a whole. One of the promising areas of tourism is sanatorium treatment. The purpose of this study is to analyze the Russian market of tourist services as a whole, as well as to conduct a review of sanatorium and resort services and identify trends. Quantitative and qualitative methods were used to achieve this goal. Tabular and graphical methods were used for visualization. During the analysis, it was found that the share of gross value added of tourism in Russia in connection with the pandemic decreased in 2020 and only reached the pre-pandemic level in 2022. Based on the analysis of the market of sanatorium and resort services, the tourist fl ow was revealed mainly by citizens of the CIS. The development of domestic tourism contributed to an increase in hotel occupancy and prevented a greater decline in the industry. The calculated seasonality indices made it possible to determine the most and least busy months of the year. The article also examines the impact of the pandemic and sanctions against Russia on the tourism industry.