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Some Questions Regarding the Harmonization of the Eurasian Economic Union States’ Labor Legislation

Author(s): Tleuhabyl M. Abaydeldinov,Saule Zh. SULEIMЕNOVA,Aliya O. Askarova,Aliya E. DAUTBAYEVA-MUHTAROVA / Language(s): English Issue: 21/2016

This paper reflects modern approaches to the application of international norms and legal acts in the field of legal regulation of labor from the perspective of international labor law, the extension of international labor standards to the national legislation and vice versa – the influence of national legislation on the state of international labor law, with a view to finding possibilities of the rapprochement and harmonization of Eurasian Economic Union states’ labor legislations. The author describes how the bodies of legislative power effect the work of International labor law, labor legislation activities within the framework of the Eurasian Economic Union, analyzed the negative and positive aspects of cooperation with the Eurasian Economic Union, especially of the Republic of Kazakhstan. In this study, there were used methods of analysis, synthesis, as well as comparative-legal method as one of the main historical one. As a result of this study, there is a need to harmonize Eurasian Economic Union States’ labor legislation for the convergence of norms, rather than unification. Harmonization should take place by means of ratification in parliament of each Eurasian Economic Union state, as a separate statutory instrument. Taking into account national peculiarities of each state and developing legal projects that satisfy the state, based on recognized international principles and standards.

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Issues of Implementing the Resocializing Function of Probation Control in the Republic of Kazakhstan

Author(s): Aida Batyrbekovna Alibekova / Language(s): English Issue: 21/2016

The article considers the issues of estimating the place of the probation institution in Kazakhstan legal and law enforcementreality. Today, the modernization processes of Kazakhstan criminal policy, where the sphere of punishments, not related to deprivation of liberty and widely used in international practice, shall be subject to deeper modernization, are being actively discussed socially and in academic community. In this regard, a great number of questions to the newly established probation institution in the Republic of Kazakhstan, especially related to its future efficiency, arise. The objective set by the author of this article provides for the analysis of international and domestic law regulating probation control, as well as the prospects for its further improvement in the Republic of Kazakhstan. The article reviews opinions of domestic and foreign scientists carrying out research into the probation institution and its modifications, as well as into its application experience in foreign countries.The position, based on which the existing legal instruments, provided they are duly modified, can be used for efficient implementation of the probation function in the Republic of Kazakhstan, is substantiated. Based on the analysis of various regulatory prescriptions, doctrine approaches to the issue, expert surveys, and the prospects for the expanding of the object composition of persons under supervision, the conclusion about the necessity of establishing a probation service as an independent body, and expanding its function and specialization, has been made.

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Main Movements in Accounting Records’ Development of the Republic of Kazakhstan in the Context of Economic Globalization

Author(s): Saltanat K. Baydybekova,Zhupargul Sh. Abdykalieva,Aida D. TOLEGENOVA,Aynur R. KEREEVA,Botha D. Baytarakova / Language(s): English Issue: 21/2016

The paper examines the main trends in accounting records’ development of the Republic of Kazakhstan in the context of economic globalization. The article reflects the need of transition to international financial reporting standards, systematization of gathered experience in the context of world economy globalization and theoretical and methodological problems’ development of improving the accounting and auditing systems, identified goals and objectives of the study. The aim of the article is to develop ways to improve the accounting system in the Republic of Kazakhstan in the context of economic globalization and harmonization of accounting records in accordance with International Financial Reporting Standards (IFRS). The article studied the theoretical base of IFRS formation and substantiated the main directions of accounting records’ methodology and organization improvement. There are proposed ways to improve accounting and reporting that meet the modern requirements of IFRS. By means of the proposed procedures’ implementation, there can be carried out a comprehensive and systematic assessment of organization’s efficiency as a whole and the individual departments, identified current priorities of development and predicted their future development in order to develop optimal management decisions.

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Economic Policy in Russia: Factors and Constraints

Author(s): Sergey Nikolaevich Bolshakov,Yulia Mikhailovna Bolshakova,Sergey Alekseevich Tkachev,Valeriy Zarubin / Language(s): English Issue: 21/2016

The protracted economic crisis caused by falling oil prices and lack of competitiveness of the Russian economy determines the value of predictive assessments of economic development. Scenario modeling of options for the development of Russian economy in the medium term allows to reveal the trends and the likely priorities of economic development, as well as measures of Russian state authorities. The article assesses the macroeconomic indicators of economic development, records a drop in effective demand and consumer sentiment index. The growth of problems associated with the budget deficit and the performance of the state's social obligations is analyzed. The dynamics of the state of the National Welfare Fund and the direction of fund investment are analyzed; and political motivation of spending public funds and resources is stated.

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Competitiveness of the Human Capital as Strategic Resource of Innovational Economy Functioning

Author(s): Elvira Yuryevna CHERKESOVA,Evgeniya A. Breusova,Ekaterina P. SAVCHISHKINA,Nataliya Evgenyevna DEMIDOVA / Language(s): English Issue: 21/2016

The article covers the problem related to forming the human capital as a strategic resource of innovational economy functioning. It considers and analyzes the framework of categories used when studying theoretic and practical aspects of forming the human capital and competitiveness of the human capital, and researches various positions of national and foreign researchers on the essence of key notions and factors that influence the formation of the human capital.The reason ability of investments in the human capital in the long-term perspective is stipulated. The article specifies that the creation and efficient use of the human capital as a strategic resource of the company leads to actual competitive advantages of the company on the market. The author defines that the tools to form the competitive human capital as a strategic resource of the innovational economy functioning include the optimization of budgetary expenses and rational investment of resources in education and science.

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Common Energy Policy and Mechanisms Aimed at Unification of Legal Regulation Related to Foreign Trade Turnover of BRICS Energy Resources

Author(s): Agnessa O. ISHAKOVA,Igor P. MARCHUKOV,Maxim V. SVESTYANOV / Language(s): English Issue: 21/2016

The article deals with legal methods and means of unification of legal regulation of foreign trade turnover of energy resources in BRICS, which today presents a powerful, dynamic alliance, committed to new industrial standards, which demonstrates sustainable economic growth and rapidly growing impact on regional and global markets, including energy. We study the factors and general policy measures aimed at strengthening the national security and the economic power of the member countries of BRICS as a whole, contributing to the development of all sectors of the economy, as well as the nature of the event, narrow section, aimed at the development of foreign trade of energy resources. It is proved that the BRICS association promotes global economic positions of Russia and may become one of the most powerful tools of its foreign trade, including in the energy sector. It is concluded that the development of international energy co-operation of Member States BRICS priority jurists favor the creation of a single legal space. As for direct foreign trade of energy resources, the priority must first be given to the harmonization of national civil law, as a branch of law that regulates private-trade relations with a foreign element, the implementation of which requires a call to the harmonization of the law.

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Business Model Development of a Traditional Industrial Enterprise

Author(s): Svetlana V. OREKHOVA / Language(s): English Issue: 21/2016

The study is directed at the logical structure creation of the business model of Russian ferrous metallurgy enterprises. Based on the available approaches to the learning of the content and structure of the business model, its essential and necessary elements have been specified. The study’s novelty is that the object of analysis is ferrous metallurgical enterprises with low strategic flexibility, but in the conditions of market turbulence they have to change the format of their business operation. This aspect of the work is studied through the prism of the business models transformation of industrial enterprises at different life cycle stages. The authors make a conclusion that the effective changes of business architecture is possible with the positioning of an industrial enterprise as a participant of the technological platform while creating customer values. Specifying the economic essence of the technological platform made it possible to offer a basic scheme of the business model for ferrous metallurgical enterprises.

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Budgetary Policy as a Tool of Macroeconomic Regulation of the Economy and Social Sphere

Author(s): Aleksandr Zaharovich SELEZNEV,Larisa Gennadievna Cherednichenko,Mayуa Valerianovna Dubovik,Aleksandr Victorovich Sigarev / Language(s): English Issue: 21/2016

Goal of the study. Analysis of the budget system of the Russian Federation, identification of its role in the mechanism of centralized macroeconomic regulation of economic and social processes. Methodology. The paper presents the practice of using the strategic budget planning in developed countries, its advantages and disadvantages, budget planning schemes applied in the Russian Federation.Results. Budgetary policy in the Russian Federation has been critically interpreted on the basis of four different budget models. Changes in the mechanism of centralized financial regulation in the process of development of the budget system have been identified and evaluated. Realities of budget three years plans in terms of structural crisis and sanctions against Russia have been analyzed. Risks of the Russian budget balance have been assessed. Necessity of expanding the social orientation of budgetary policy has been justified.Conclusions and significance. Budget planning in the format of ‘three-year plans’ (except 2009) during eight years (2008-2015) turned out to be imitation of planning. Identified trends in the development of the budget system of Russia indicate narrowing human-centricity of the Russian budget model and pose a threat to the implementation of constitutional provisions on the sociality of the state. At a large share of oil and gas revenues in the budget revenues and the cyclicality of their dynamics, the significance of creation and more efficient use of sovereign wealth funds is preserved and increased.Justification of academic novelty. Budget planning in Russia has been critically interpreted in view of the impossibility of the development of a realistic forecast of macroeconomic indicators of socio-economic development in conditions of significant influence of external macroeconomic shocks on the revenue part of budget, due to the high volatility of commodity and currency markets, as well as global economic and political conditions.

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Formation of a New Organizational and Economic Mechanism Enhancing the Functional Role of Population's Savings in Financing Investments

Author(s): Arsen Azidovich Tatuev,Georgiy N. KUTSURI,Sergey A Shanin,Violetta V. ROKOTYANSKAYA,Nataliya I. OVCHAROVA / Language(s): English Issue: 21/2016

The article examines the problem of economic development within a context of reductions of the investment resources. Russian economy is characterized by one of the highest borrowing costs. This affects the development of the real economy, as investment demand is shifting towards highly profitable projects. But the investments in the real sector have naturally lower profitability than financial speculations in securities of operating companies. In such circumstances, it is advisable to form a new organizational and economic mechanism of financing economic growth and modernization. The savings of the population should play a key role in this system, being the most important source of domestic investment.

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Tax Administration and Commercial Banks as Specific Factors of Informal Economy in Kosovo

Author(s): Armand Krasniqi / Language(s): English Issue: 22/2016

In modern societies the definition of forms of informal economic activities has evolved dynamically. The definition used for this phenomenon by lawyers and economists includes transactions or economic operations not under control by state institutions, but not even interested to undertake actions to stop them. Thus, informality of more than 40% has become one of the most discussed issues in Kosovo politics. The passive way approached by government institutions in combating this negative phenomenon, is not only inadequate, but above all it has become a factor of high social risk. Tax Administration of Kosovo (TAK), together with banks as the second in range, have gradually become serious stimulus segments of informal activities. Even though state Tax Administration is aware that establishment of credit relations between banks and certain business entities is proceeded on the basis of documentation, which neither in the form nor in content is realistic, official or reliable, it does not consciously control it but tolerates it, and in the last phase of determining the profit tax it bases exactly on them.

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Assessment of Competitive Advantages of the Pavlodar Region and its Economic Strength

Author(s): Marat Asilbekovitsh Bayandin,Aina Serikovna NARYNBAYEVA,Zulfiya Amangeldinovna Arynova,Gulmira Duisenbayevn Bayandina,Roza Kenzheevna Alimkhanova / Language(s): English Issue: 24/2017

Findings of the analysis of the key competitive advantages of the Pavlodar region, which is a large industrial center of the Republic of Kazakhstan and has substantial economic strength, have been reflected in this article. Competitive advantages of the region, including a rich natural resources potential, availability of a developed industrial and social infrastructure, high scientific and technical capacity, and the connecting role between Central Asia and Siberia, have been reviewed. Solid competitive advantages for investing in the development of the region have been revealed. The authors have stated general positive factors that contribute to expansion of the economic strength of the Pavlodar region and positively influence the sustainability of the development of the regional economy. The problems that influence the competitiveness of the region and reduce the efficiency of using its economic strength have been identified. The opportunities and areas for development of the region in the medium and long term, taking into consideration the indicated development trends, have been summarised.

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Concept and Different Types of Restrictive Business Practices in the Legal Orders of BRICS Countries (the Case of China, India, Russia and South Africa)

Author(s): Ksenia Michailovna Belikova,Natalia Vladimirovna Badaeva,Evgenia Evgenevna Frolova,Mikhail Nikolayevich Dudin / Language(s): English Issue: 24/2017

The article represents a research of general approaches of BRICS countries legislation and legal order to counteraction against leading anticompetitive market strategies with regard to legal orders of China, India, Russia and South Africa. Different theoretical and practical approaches regarding establishment of legality or illegality of the agreements able to be considered as restrictive business practice under the law of China, India and South Africa are analyzed. The authors pay attention to current legislation of BRICS countries regarding competition protection with regard to provisions related to ‘horizontal’ and ‘vertical’ restrictions of trade, concerted practices, deceptive conducts and collusions, unfair sales techniques, pricing and selling strategies. It can be argued that our society is interested in the engagement of a population in trade and industrial activity, however, this rule allows exceptions: restrictions of freedom of trade can be justified by exceptional circumstances in certain cases and under certain circumstances.

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The Problems of Economical Safety during the Formation of the Creative Cluster for a Region

Author(s): Alyona Sergeevna KOKSHAROVA,Elena Nikolaevna Vanchikova,Vladimir Alekseevich Ruban,Viktoriya Matveevna Baginova,Irina Arkhipovna SHARALDAEVA / Language(s): English Issue: 24/2017

The competitiveness of a region is defined mainly by the efficiency of using the possibilities of producing and promotion of products at the local level and not by the comparative advantages that are provided by geographical factors. In the context of globalization, the regions compete not only within the limits of one country but at the international level as well; there is a growing need for applying the methods and principles allowing to effectively use the existing advantages for taking and keeping the profitable positions at the market. In the context of the fourth industrial revolution, the main resource of national wealth is public infrastructure creating the appropriate environment for potential realization of the key element of public development meaning the creative and intellectual abilities of each person. That is why nowadays, the strategy of region development targeting the competitiveness growth quite often includes such a direction of development as forming the creative cluster. Nevertheless, there is no clear understanding which industries should be defined as creative, what is the way of forming these clusters of creative industries, and also what issues of economical safety can be faced by the regions during this process. This current research is aimed to find the solution of the current situation.

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Information Flows Balance and Price of Real Estate

Author(s): Konstantin L. LIDIN,Mark G. Meerovich,Elena A. Bulgakova,Svetlana A. Zabelina / Language(s): English Issue: 24/2017

The influence of the informational potential of place on the property is investigated. The theoretical relationship between the place potential (difference between the level of production and consumption of information in this location) and the value of the property at this location is shown. Statistically valid the correlation between the informational potential of places and the price of real estate on a comparative material of the Russian Federation is statistically justified.

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Applying Methods of Estimating Indefiniteness Conditions in the Context of Ensuring Economic Safety of Regions

Author(s): Anna Viktorovna Orlova,Julia V. Lyshchikova / Language(s): English Issue: 24/2017

High level of indefiniteness and the crisis nature of the current economic system cause external and internal threats that have an essential impact on the social and economic development of regions. It makes people pay close attention to the issues related to servicing and managing their economic safety. The goal of this research is to stipulate and develop tools on estimating the comprehensive territorial force. The authors formulated a system of particular indicators of the expert estimation of the territory development under conditions of indefiniteness in the context of the process related to taking decisions on ensuring their economic safety. The content of the comprehensive territorial force and the parameters of the process related to the social and economic state of regions were defined during the research. The results of the research can be used to reveal peculiarities of the territorial force and to define areas of building mechanisms on ensuring economic safety of regions.

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Assessment of Risks of Investment and Construction Activities: Russian Practice

Author(s): N.A. OSADCHAYA,Anton Murzin,E. E. Torgayan / Language(s): English Issue: 24/2017

The article deals with the study of assessment of risks in the Russian practice of investment and construction activities for the purpose of identification of the national specifics and distinctive aspects. The specific risks of investment and construction activities are described on the basis of the standard analytical methods, their generalized classification is given, possible risks are checked against the stages of the investment and construction project life cycle, factors of risks of the construction organizations are grouped, and methods of analysis and risk assessment that are used in managing investment and construction activities in Russia are reviewed. A real investment and construction project for the construction of a multifunctional complex of a business hotel with apartments in Rostov-on-Don by the 2018 FIFA World Cup was reviewed as an illustration of the Russian practice of the risk assessment process. 5 options of investment evaluation were modeled based on materials of the project, and risks of receiving less profit due to changes in the amount of borrowed capital, the timing of supply of materials and equipment, as well as the lending rate were assessed. Following the results of the discussion of the study materials, the authors summarized the problems of investment and construction activities and risk management of investment and construction projects in Russia, as well as developed a complex structure of the system of managing the investment risks of construction companies, the practical application of which will allow to enhance the sustainability of construction companies on the Russian market.

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Customer Decision: An Empirical Study on Sourcing Credit from Banks

Author(s): Noor Sembiring / Language(s): English Issue: 24/2017

Many companies require external financial resources (including from the banking sector) to meet their operational needs or for their business development. Such financing in most cases comes in form of bank loans. As a commercial service sector, banking also carries out promotions to attract customers. This study seeks to establish the influence of product / service promotion both partially and or simultaneously in increasing customer demand for credit and other banking services in the Jakarta region of Indonesia. The study is conducted on 351customers and players in the banking sector in Jakarta region using methods of sampling and analysis of data and testing with the t-test and f-test. From the findings, there is a significant influence of product promotion on customer response.

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Efficient Model of Economic Growth in the Conditions of Post-Crisis Development of the Society in the Republic of Kazakhstan

Author(s): Assel T. USKELENOVA,Kairatbek K. SHADIYEV,Aidar A. TATYGULOV / Language(s): English Issue: 24/2017

The relevance of the research is conditioned by the issues of measuring the economic growth rates and factors. The paper discusses the models of economic growth – Keynesian, neo-Keynesian, Harrod and Domar model, as well as Solow one that shows how savings, population growth and scientific and technical advance act on the growth of production volumes over time. The paper focuses on questions of the development of national economy of the Republic of Kazakhstan. The leading research approach is factor- and goal-based one that has allowed the authors to determine the challenges to the national economy in the global reality and to give a comprehensive consideration of the economic development path and, respectively, of parameters and factors of change in the life of the society. Factors influencing the economic growth and formation of the ‘knowledge economy’ have been described and crisis phenomena of Kazakhstan economic development path have been revealed. The paper also gives ground for quality change of the country's economic life, its technological foundations and institutions aimed at forming the provision for an innovative model of development of the state. The materials of the paper are of practical use for the real sector economists as well as for the academic staff of educational establishments.

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Crisis Management of Regional Development: Cluster Initiatives in Russia and their Efficiency

Author(s): Sergey L. VASENEV,Natalya M. OVANESYAN,Marina V. ROSSINSKAYA,Svetlana V. VOLGINA,Violetta V. ROKOTYANSKAYA / Language(s): English Issue: 24/2017

The article reports results of research investigating cluster initiatives as a tool for crisis management at the regional level. The indicator helping to assess the regional industrial policy impact has been identified. Based on its values, the federal districts of Russia were classified according to the types of effectiveness of regional crisis management. The key problems of Central and North-Western federal districts were identified. The expediency of studying cluster initiatives of the Central Federal District since its historical development and scale of its regional economies are comparable to European parameters. The study of cluster initiatives allowed to find the cluster initiatives management scheme typical for the practice of stimulating clustering processes embedded in the strategies of social and economic development of the subjects of the Russian Federation. A quantitative assessment of existing and potential clusters has been carried out on the example of the subjects of the Central Federal District, cluster initiatives have been ranked by types of economic activity. Cluster initiatives were differentiated according to the specifics of the management processes, and the specific nature of cluster initiatives. Afactual basis for indicators has been formed in line with the objectives of the cluster policy of the Central Federal District subject. Having compared the indicators of the cluster initiatives specification with the values of the cluster policy implementation indicators, we analyzed the efficiency of cluster initiatives as an element of the regional crisis management.

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Analysis and Prospects of Developing Higher Education as a Key Factor of Economy Development (Comparative Analysis)

Author(s): E. Yeralina / Language(s): English Issue: 24/2017

The goal of this article is to define top priority areas of the education development for spreading innovative labor as a core factor of the economy development. Today, according to many indicators, the system of Kazakh higher education complies with standards of the developed countries. Every year the graduation of specialists of various levels increases. However, unlike the quality growth, the dynamics of quality indicators of the educational and professional preparation causes concerns, because its structure and content do not aim at forming the competences required for innovations. In this context, in accordance with the research methodology, the article defines criteria of developing the Kazakh education to spread innovative labor as a core factor of development. Based on them, it defines the results showing a considerable tendency towards social and humanitarian specialties in higher education while the labor innovation requires strengthening its technological component. As for technical education, the focus is made on the competences required for participating in engineering projects, which is not enough for scientific and research activity and developments. Against this background, it makes the conclusion about the need to modernize higher education whose leading vector is to train graduates for innovations.

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