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The article analyzes the changes in the economies of the Visegrad group over the past decade. The dynamics of the main indicators, including indicators of the industry structure and employment structure, as well as the world economic (global) competitiveness of the Czech Republic, Slovakia, Hungary and Poland, are considered. The issue of the innovation sphere of the «four», its features against the background of pan-European trends, is touched upon. The main factors and limitations of development of these countries are highlighted. The main characteristics of the Visegrad model and its impact on the participating countries are identified.

The analysis of the international market for credit default swaps (CDS) shows that the interdependence of sovereign CDS spreads is increasing and the market remains segmented. However, the reduction in the variation of sovereign CDS spreads means increased competition for capital and should be taken into account by monetary authorities of developed countries when they tighten monetary policy. The article shows a significant role of political risks in determining the level of sovereign risk.

Permanent inflow of foreign direct investment is a powerful driver of economic development in developing countries. However, the country's underdeveloped institutional environment imposes additional costs on the investors. We identified the specificity of the institutional environment's impact on attracting foreign direct investment (FDI) in developing countries with different levels of economic development. Based on the heterogeneity of the studied countries, we hypothesised that in developing countries institutions become an active determinant of FDI after exceeding a certain threshold. In other words, institutional factors do not affect FDI inflows into relatively underdeveloped countries among a group of developing countries whose level of economic development does not exceed the threshold. To test this hypothesis, we simulated an intra-group economic modelling based on the data of the World Bank, the Heritage Foundation and the For Peace Foundation for the period from 2005 to 2015. The main tool of econometric analysis was a panel regression with fixed effects at the country level and a two-step least squares method with instrumental variables. We used indices of economic freedom and the state insolvency as aggregated indicators of the non-overlapping groups of institutional factors. The study's main results have confirmed the hypothesis that institutional factors affect FDI inflows only in the countries where gross national income per capita is higher than average. Moreover, we defined the threshold value of gross national income per capita that a country needs to achieve in order to make any institutional changes to enhance FDI inflows. Thus, government policies, aimed at increasing the developing countries' attractiveness for foreign investors, should firstly take into account the level of economic development of the recipient country. © 2019 Institute of Economics, Ural Branch of the Russian Academy of Sciences. All rights reserved.

В этой статье рассмотрены тождественность и различия антисанкционных экономик в Иране и России. Так как Запад и его союзники в последние годы ввели разные санкции в отношении этих двух стран, одним из основных экономических приоритетов обеих стран является комплекс мер по снижению воздействия введенных санкций и укреплению национальной экономики. Эта политика известна в России как антисанкционная экономика, а в Иране как концепция экономического сопротивления. Исследование и понимание различий и сходства двух концепций в этих странах может иметь положительные результаты для экономической политики. ; In this article, similarities and differences in anti-sanctions economies in Iran and Russia are examined. Since the West and its allies in recent years have imposed different sanctions on these two countries, one of the main economic priorities of both countries is providing efficient policies to reduce the impact of imposed sanctions and strengthen the national economy. In Russia, these politicies are known as anti- sanctions economy, while in Iran these policies are put under the concept of economic resistance. Understanding differences and similarities of these two concepts in these countries may have positive results for economic policy.

The article is devoted to the methodological questions involved in investigating pre-market (pre-capitalist) economies, and to demonstrating the impressive heuristic potential of Marxist methodology for the study both of pre-capitalist societies in the proper sense, and also of present-day peripheral capitalist societies that are marked by a revival of various "archaic" economic relations. The author distinguishes the main approaches (formalist, substantivist and Marxist) that are employed in the study of precapitalist economies, while analysing certain key theoretical questions: the applicability of the principles of historical materialism to pre-bourgeois societies; the "embeddedness" of economies in social institutions (K. Polanyi); the peculiarities of the "Asiatic mode of production" (K. Marx); the nature of "power-property" (L.S. Vasilyev); "all-class private property" and politarism" (Yu. K. Semenov); state coercion; and others. Emphasis is placed on the outstanding contribution made by the contemporary Russian Marxist historian, ethnologist and methodologist Yu. I. Semenov to elaborating the theory of pre-market (pre-capitalist) economies, to developing the global-formational approach to history, to the theory of the Asiatic mode of production ("politarism"), and finally, to researching the economic and political development of Russia during the twentieth and twenty-first centuries.

In the modern epoch many countries, including China and Russia, have developed market economies of differing types. This work provides an analysis of the laws of market regulation, state regulation and proportional development, as well as an analysis of the relations between them, all of which are of exceptional scientific and political significance. The law of proportionality is a universal law of social production and of the national economy. The law of market regulation (the law of value) represents an important mechanism for implementing the law of proportionality in a commodity economy, and has played a decisive role in the application of this latter law from the time when the simple commodity economy was transformed into a capitalist commodity economy. The law of state regulation (the law of planning) is the means of realisation of the law of proportionality in collectivised production and in a state-regulated national economy. In China's socialist market economy the law of state regulation (the law of planning) and the law of market regulation (the law of value) are combined into an organic whole with fruitful, mutually reinforcing functions and synergetic effects, in order to bring the law of proportional development into play and to banish the old economic problem of disproportions in economic development. Through these methods, a larger mass of production can be achieved with a smaller expenditure of resources, while obtaining maximum benefit and bringing about a high level of economic and social well-being.

Relevance. Further to the postindustrial transition and the Forth Industrial revolution challenges operating nowadays in the world the Russian federation leaders task the nation to provide intensive innovation development of the economy and society with the effective administration of the process. The fulfillment requires toapply to such a praxis in the developed economies with the advanced manufacturing. Research object. The paper provides the analysis of the innovative activity indicators systems of the three developed economies leading in the world for a long time in manufacturing as well as in the novelties production and commercialization spheres, i.e. USA, Japan and Germany. Herewith the main principles of the systems' formulation, bases to select their particular indicators has been determined, the element composition analyzed and their structures compared. Methods. To solve the task various research instruments have been applied: the system analysis, the content analysis, the comparative one and others. The institutional and evolutional theories and the modern political-economic approaches constituted the methodological basis of the research. Results. The operation of the research facilitated the determination of the perspective approaches to form the systems of innovation activity indicators there to be applied and?\?or adapted in Russia and the recommendation to make use of these. The comparative analysis realized manifested different variants of the system' structures with such bases and facilitated the elaboration their typology further to the modes of the indicators' grouping, their factors of influence and the presence?\?absence of the synthesizing indicator. The conclusions served for the recommendations to use some principles and methods of the foreign systems of innovation activity indicators' constitution. Prospects. The immediate perspective of the research realized if the practical application of the deductions made, the theoretical conceptualization of the results obtained and the determination of the opportunities the systems to refine further on. ; Актуальность. В условиях начинающихся постиндустриального перехода и четвертой промышленной революции Российской Федерации необходимо интенсивное инновационное развитие экономики и эффективное управления этим процессом. Целесообразно использовать практический опыт такого руководства в развитых странах, где обрабатывающая промышленность достигла высокого уровня развития. Предмет исследования. В статье проанализированы системы показателей инновационной деятельности, используемые в США, Японии и Германии, которые в течение длительного времени удерживают мировое лидерство в секторе обрабатывающей промышленности, предлагают и успешно внедряют инновации. Выявлены основные принципы отбора показателей, построения систем и их сопоставления. Методы. Для решения поставленных задач были использованы различные исследовательские инструменты: системный подход, контент-анализ, компаративный анализ и другие. Общими методологическими основаниями работы послужили институциональная и эволюционная теории, а также современные политико-экономические подходы. Результаты. Выявлены перспективные для применения и /?или адаптации в России подходы к построению систем показателей инновационной активности. Как показал сравнительный анализ, существуют разные варианты систем, удалось составить их типологию на основе способов группировки и числа показателей, воздействующих на их значения факторов, а также наличия или отсутствия обобщающего индикатора. Сформулированы рекомендации к использованию в России ряда принципов и приемов построения зарубежных систем показателей инновационной деятельности. Перспективы. Ближайшей перспективой является практическое воплощение полученных выводов, теоретическое осмысление его результатов и определение возможных направлений усовершенствования системы в последующем.

Relevance. Further to the postindustrial transition and the Forth Industrial revolution challenges operating nowadays in the world the Russian federation leaders task the nation to provide intensive innovation development of the economy and society with the effective administration of the process. The fulfillment requires toapply to such a praxis in the developed economies with the advanced manufacturing. Research object. The paper provides the analysis of the innovative activity indicators systems of the three developed economies leading in the world for a long time in manufacturing as well as in the novelties production and commercialization spheres, i.e. USA, Japan and Germany. Herewith the main principles of the systems' formulation, bases to select their particular indicators has been determined, the element composition analyzed and their structures compared. Methods. To solve the task various research instruments have been applied: the system analysis, the content analysis, the comparative one and others. The institutional and evolutional theories and the modern political-economic approaches constituted the methodological basis of the research. Results. The operation of the research facilitated the determination of the perspective approaches to form the systems of innovation activity indicators there to be applied and?\?or adapted in Russia and the recommendation to make use of these. The comparative analysis realized manifested different variants of the system' structures with such bases and facilitated the elaboration their typology further to the modes of the indicators' grouping, their factors of influence and the presence?\?absence of the synthesizing indicator. The conclusions served for the recommendations to use some principles and methods of the foreign systems of innovation activity indicators' constitution. Prospects. The immediate perspective of the research realized if the practical application of the deductions made, the theoretical conceptualization of the results obtained and the determination of the opportunities the systems to refine further on. ; Актуальность. В условиях начинающихся постиндустриального перехода и четвертой промышленной революции Российской Федерации необходимо интенсивное инновационное развитие экономики и эффективное управления этим процессом. Целесообразно использовать практический опыт такого руководства в развитых странах, где обрабатывающая промышленность достигла высокого уровня развития. Предмет исследования. В статье проанализированы системы показателей инновационной деятельности, используемые в США, Японии и Германии, которые в течение длительного времени удерживают мировое лидерство в секторе обрабатывающей промышленности, предлагают и успешно внедряют инновации. Выявлены основные принципы отбора показателей, построения систем и их сопоставления. Методы. Для решения поставленных задач были использованы различные исследовательские инструменты: системный подход, контент-анализ, компаративный анализ и другие. Общими методологическими основаниями работы послужили институциональная и эволюционная теории, а также современные политико-экономические подходы. Результаты. Выявлены перспективные для применения и /?или адаптации в России подходы к построению систем показателей инновационной активности. Как показал сравнительный анализ, существуют разные варианты систем, удалось составить их типологию на основе способов группировки и числа показателей, воздействующих на их значения факторов, а также наличия или отсутствия обобщающего индикатора. Сформулированы рекомендации к использованию в России ряда принципов и приемов построения зарубежных систем показателей инновационной деятельности. Перспективы. Ближайшей перспективой является практическое воплощение полученных выводов, теоретическое осмысление его результатов и определение возможных направлений усовершенствования системы в последующем.

Emerging markets are gaining grounds in the international market, and have since become alter natives or avenues to supplement global financial flows. These markets dramatically succeeded in achieving their targets by embarking on various processes of adopting measures in developing their investment markets in con formity with macroeconomic and trade transformations. China, a dominant member amongst emerging, keeps undertaking big investments globally, with Africa being one of its destinations. The Chinese government has in tensified its trade and investment activities in the region, especially in Sub-Saharan Africa, thus becoming one of the major investment partners from the emerging markets including India and Brazil. This paper explores the ac tivities of emerging markets in the Sub-Saharan region in financing various developmental projects of the econo mies. We also took interest in reviewing literature on diversification, financial integration, growth resilience, capital volatility and financial liberalization. Apart from surveying literature, the paper contains illustrious demonstrations of grow resilience and diversification as well as the region's progress in global competitiveness using data span ning from 2011 to 2016. The impact and potential of emerging markets in fulfilling the developmental needs of the region has been studied, and with certain recommendations. ; Развивающиеся рынки завоевывают все большую популярность на международном рынке и становятся альтернативой или средством дополнения глобальных финансовых потоков. Эти рынки добились значительных успехов в достижении своих целей, приступив к различным процессам принятия мер по развитию своих инвестиционных рынков в соответствии с макроэкономическими и торговыми преобразованиями. Китай, доминирующий член среди развивающихся стран, продолжает осуществлять крупные инвестиции по всему миру, при этом Африка является одним из его направле ний. Правительство Китая активизировало свою торговую и инвестиционную деятельность в регио не, особенно в странах Африки к югу от Сахары, став, таким образом, одним из основных инвестици онных партнеров на формирующихся рынках, включая Индию и Бразилию. В статье рассматривается деятельность стран с формирующейся рыночной экономикой в регионе к югу от Сахары по финанси рованию различных проектов в области развития. Авторы проявили интерес к обзору литературы по вопросам диверсификации, финансовой интеграции, устойчивости роста, неустойчивости капитала и финансовой либерализации. Помимо обзорной литературы, в статье содержатся демонстрации рос та устойчивости и диверсификации, а также прогресса региона в глобальной конкурентоспособности с использованием данных, охватывающих период с 2011 по 2016 год. Были изучены влияние и потенци ал развивающихся рынков в удовлетворении потребностей региона в области развития, а также не которые рекомендации.