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Prelims

Modeling Economic Growth in Contemporary Russia

ISBN: 978-1-78973-266-5, eISBN: 978-1-78973-265-8

Publication date: 23 May 2019

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(2019), "Prelims", Sergi, B.S. (Ed.) Modeling Economic Growth in Contemporary Russia, Emerald Publishing Limited, Leeds, pp. i-xx. https://doi.org/10.1108/978-1-78973-265-820191013

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Emerald Publishing Limited

Copyright © 2019 Emerald Publishing Limited

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MODELING ECONOMIC GROWTH IN CONTEMPORARY RUSSIA

Title Page

MODELING ECONOMIC GROWTH IN CONTEMPORARY RUSSIA

EDITED BY

BRUNO S. SERGI

Harvard University, USA

University of Messina, Italy

United Kingdom – North America – Japan – India – Malaysia – China

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Emerald Publishing Limited

Howard House, Wagon Lane, Bingley BD16 1WA, UK

First edition 2019

Copyright © 2019 Emerald Publishing Limited

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ISBN: 978-1-78973-266-5 (Print)

ISBN: 978-1-78973-265-8 (Online)

ISBN: 978-1-78973-267-2 (Epub)

List of Figures

Chapter 1
Figure 1.1. A Synopsis of the Finance–Growth Link’s Transmission Mechanism. 5
Chapter 2
Figure 2.1. Ruble/USD Exchange Rate and Urals, USD a Barrel. 41
Figure 2.2. Change in Risk Premium in Russia and Emerging Markets (Base Points). 41
Figure 2.3. The Bank of Russia: Monetary Policy Transmission Mechanism Channels. 43
Figure 2.4. Interest Rates on Banks’ Ruble Transactions and Bank of Russia Key Rate (% p.a., Unless Indicated Otherwise). 44
Figure 2.5. Contribution of Various Components to Annual Growth of Banks’ Loan Portfolio (percentage point, Unless Indicated Otherwise). 45
Figure 2.6. Russia: Investment Activity Indicators (Seasonally Adjusted, Growth as % on January 2014). 45
Figure 2.7. Estimates of Household Inflation Expectations in Russia for One Year Ahead (%). 46
Figure 2.8. Structure of Existing Credit Institutions in Russia (Number of Institutions at the Beginning of the Year). 48
Figure 2.9. The Russian Banking Sector Assets, by Business Model, %. 48
Figure 2.10. Dynamics of Key Indicators of the Structure of Assets, %. 49
Figure 2.11. Key Indicators of Banking Sector, % of GDP. 50
Figure 2.12. Dynamics of Elasticity of the Money Supply to Monetary Base Changes and GDP Growth Rates in Russia for the Period of 2008–2018 (January–September). 55
Figure 2.13. Dynamics of the Multiplier m as Well as of GDP Growth Rates in Russia for the Period of 2008–2018 (January–September). 56
Figure 2.14. Dynamics of the Numerator (1 + D/C) and Denominator (1 + R/C) of the Money Multiplier Equation as well as of the Inflation (j t ) in Russia for the Period of 2008–2018 (January–September). 57
Chapter 3
Figure 3.1. Russia: Different Budget Rules under Baseline Oil Prices. 79
Figure 3.2. Calculation Table in MS Excel According to the Mathematical Formalisms (1) and (2). 83
Figure 3.3. Interval Forecast GDP for 2018, Constructed with the Help of Holt-Winters Model Based on GDP for 2002–2017 for Parameter Values. 84
Figure 3.4. Growth Rates of the Russian GDP for the Period of 2002–2018 (Forecast) (in %). 85
Figure 3.5. Aggregate Share of Public Sector in GDP of Russia in 2006–2016 (in %). 86
Figure 3.6. GDP Growth Rates, Federal Budget Revenues, and Expenditures in 2002–2017 (in %). 87
Figure 3.7. Dynamics of Parameters of Federal Budget Stability in Russia in 2001–2017 (Rubles). 87
Chapter 4
Figure 4.1. Outward FDI, Russia. 102
Chapter 5
Figure 5.1. Primary Indicators of Innovation: The International Comparison. 134
Figure 5.2. Dynamics of Basic Indicators of Innovation in Russia. 134
Figure 5.3. Factors Impeding Innovation in Russian Industry. 135
Chapter 6
Figure 6.1. Four Immediate Factors that Break Down Learning. 172
Figure 6.2. The Model of Real Cognitive Consciousness of Students. 175
Figure 6.3. Cognitive, Socioemotional, and Technical Skills Interact. 183
Figure 6.4. The Twenty-first-century Skills. 186
Figure 6.5. OECD: Model of Educational Achievements – 2030. 188
Figure 6.6. Human Capital Index versus GDP Per Capita. 190
Figure 6.7. Learning-adjusted Years of School (Learning Gap). 191
Figure 6.8. Dynamics of GDP of Russia in the Scenarios: (1) Forecast, (2) Reduction in the Students’ Educational Failure, (3) Reduction in the Students’ Economic Failure for the Period of 2019–2025 (in Billion Rubles). 196
Chapter 7
Figure 7.1. Budget Expenditure of Some National Government on Infrastructure, % of Total Fixed Assets. 211
Figure 7.2. Budget System’s Expenditures on Infrastructure in Russia for the Period of 2012–2017, Billion Rubles. 213
Figure 7.3. State Share in Fixed Assets Investments in Russia for the Period of 2010–2017, Billion Rubles. 214
Figure 7.4. Dynamics of Infrastructure Investments and Needs in Russia, Trillion Rubles. 216
Figure 7.5. The Volume of Funds that could be Invested in Infrastructure Projects in Russia in the Perspective of 2018–2020 (in trln.rub). 218
Figure 7.6. Total Infrastructure Investment Needs for the Period 2018–2022, as a Percentage of GDP Per Year. 221
Figure 7.7. Dynamics and Trends of Quarterly Changes in Revenues and Expenditures of the Federal Budget of the Russian Federation for the Period of 2001–2018 (in Rubles). 222
Figure 7.8. The Dynamics of Quarterly GDP Growth Rates for the Period of 2002–2017 with the Forecast for 2018 and the Corresponding Trend on Average. 223
Figure 7.9. Federal Budget Spending on Infrastructure for the Period of 2012–2020 (Forecast) in Billions of Rubles and the Change in Their Value as a Share of GDP in Percent. 224
Figure 7.10. Regression of the Growth Rate of GDP by the Growth Rate of Expenditure. 227
Figure 7.11. Dynamics of the Effect of Scale Obtained from Attracting Private Investments to the Rouble of Budget Funds into the Infrastructure Projects in Current Prices (in Billion Rubles). 228
Chapter 8
Figure 8.1. The Volume of Import, Export, and Balance of Foreign Trade and Production in 2005–2018 and the Forecast for 2019–2024 (All Other Conditions Being Equal). 238
Figure 8.2. Dynamics of the Index of Animal Breeding and Crop Farming in 2005–2018 and Forecast for 2019–2024 (All Other Conditions Being Equal). 238
Figure 8.3. Dynamics of Wear of Fixed Funds in 2005–2018 and the Forecast for 2019–2024 (All Other Conditions Being Equal). 239
Figure 8.4. Dynamics of Implementation of Fixed Funds in 2005–2018 and the Forecast for 2019–2024 (All Other Conditions Being Equal). 239
Figure 8.5. Dynamics of Values of the Food Security Index in Russia in 2012–2018 and Forecast Scenarios of Its Values for 2019–2024. 243
Chapter 9
Figure 9.1. Displacement of the Proportion of Financing of the Projects “State ÷ Private Capital” Depending on the State of the Economy. 253
Figure 9.2. Model of the Smart Project Management System. 254
Figure 9.3. The Model of the Business Unit That Implements the Smart Project. 255
Figure 9.4. Classification of Factors in the Implementation of Smart Projects. 256
Figure 9.5. Modular Evaluation of the Nano-efficiency of PPP Projects. 259
Figure 9.6. Basic Elements of Smart City. 265
Figure 9.7. Level of the Smart Economy. 265
Figure 9.8. Level of Smart Environment. 266
Figure 9.9. Level of Smart Infrastructure. 266
Figure 9.10. Level of Smart Governance. 267
Figure 9.11. Level of Smart Human Capital. 267
Figure 9.12. Level of Smart Technology. 268

List of Tables

Chapter 1
Table 1.1. The Ranks’ Dynamics of BRIICS Countries by Global Competitiveness Index, 2007–2017. 3
Table 1.2. The Ranks’ Dynamics of BRIICS Countries by Financial Market Development Series, 2007–2017. 4
Table 1.3. Russian Regions’ Averages, 2008–2015. 9
Table 1.4. Descriptive Statistics. 16
Table 1.5. Correlation Matrix. 17
Table 1.6. GMM-estimation of the Effects of Accumulation and Allocation of Capital on Economic Growth in Russian Regions. 20
Table 1.7. Robustness Check. 22
Chapter 3
Table 3.1. The Main Parameters of the Basic Forecast of the Socioeconomic Development of Russia for the Period of 2017–2020. 77
Table 3.2. Dynamics of Growth Rates of GDP, Federal Budget Revenues and Expenditures (in %) as Well as GDP Elasticity of Federal Budget Revenues and Expenditures (in Relative Terms) (Fiscal Multipliers) in 2002–2017 (The First and Fourth Quarters) in Russia. 88
Chapter 4
Table 4.1. Foreign Direct Investment in Russian Federation: Inward and Outward Flows. 101
Table 4.2. Russian OFDI Main Recipients, Million USD. 101
Table 4.3. Sample Description. 104
Table 4.4. Company Descriptions. 106
Table 4.5. Companies Profile and Financial Data. 108
Table 4.6. Major Capabilities Identified in the Companies Operating in Russia. 123
Chapter 5
Table 5.1. Conventional Innovation Policy Framework Based on Neoclassical and Evolutionary Growth Models. 131
Table 5.2. Limitations for Innovation-based Growth in Selected Sectors. 136
Table 5.3. State Policy to Stimulate the Transition of the Russian Economy to an Innovative Development Model: The Main Stages. 142
Table 5.4. Alternative Innovation Policy Models. 146
Table 5.5. The Main Instruments of State Policy for the Development of Science, Technology, and Innovation. 148
Table 5.6. Advantages and Disadvantages of the Main Types of Innovation Policy Instruments. 160
Chapter 6
Table 6.1. Comparison of Classical and Modern Learning Paradigms. 177
Table 6.2. Real-educational Model of Consciousness – A Model of Mental Difficulties of Students in the Theory of PСB in Education. 178
Table 6.3. Definitions of the Twenty-first-century Skills. 187
Table 6.4. Evaluation of the Financing of the Russian Education System from the Standpoint of an Investment Project for the Period of 2018–2025 (in Billion Roubles). 198
Chapter 7
Table 7.1. Estimation of Capital Expenditures for Infrastructure in Current Prices (in Billion Rubles) and in Fractions of GDP and Federal Budget Expenditures in 2012–2017 and Forecast for 2018–2019 (in %). 225
Table 7.2. Estimation of Economic Effect Obtained from Attracting Private Investments to the Ruble of Budget Funds into the Infrastructure Projects in Current Prices. 226
Chapter 8
Table 8.1. The Values of Indicators of Russia’s AIC in 2005–2018. 237
Table 8.2. Regression Analysis. 240
Table 8.3. Scenarios of Mid-term (Until 2024) Growth of Russia’s AIC. 242
Chapter 10
Table 10.1. The Share of Energy Resources Produced Using Renewable Energy Sources in the Total Volume of Energy Resources. 287

About the Editor

Bruno S. Sergi teaches on Emerging Markets and the Political Economy of Russia and China at Harvard University; he is an Associate of the Harvard's Davis Center for Russian and Eurasian Studies and the Harvard Ukrainian Research Institute. He also teaches international economics at the University of Messina. He is the Series Editor of Cambridge Elements in the Economics of Emerging Markets, Co-series Editor of the Emerald Publishing book series Lab for Entrepreneurship and Development, an Associate Editor of The American Economist, and Co-founder and Scientific Director of the International Center for Emerging Markets Research at Peoples’ Friendship University of Russia (RUDN) University in Moscow. He is the founder and Editor-in-Chief of International Journal of Trade and Global Markets, International Journal of Economic Policy in Emerging Economies, and International Journal of Monetary Economics and Finance. He holds a Ph.D. in economics from the University of Greenwich Business School – London.

About the Contributors

Inna Andronova is a Doctor of Economics and Professor of the Department of International Economic Relations of the Peoples’ Friendship University of Russia (RUDN). Dr Andronova is author of more than 80 scientific papers on economic security and the economic interests of Russia in the regions of the world, including the monographs External Economic Security of Russia: Theory and Practice, External Economic Aspects of the National Interests of the Russian Federation in the Post-Soviet Space, and External Economic Interests of Russia in the Transcaucasian Countries, Les interest économics de la Russie, de l’Union europeenne et de la Chine sur l’espace postsoviétique, and Russia and South Africa: Innovative Cooperation for Development.

Nina M. Baranova graduated from Lomonosov Moscow State University (Faculty of Computational Mathematics and Cybernetics) in 1992. In 2005, she got a degree of Candidate of Pedagogic Sciences from the Moscow State Regional University. Since 1993 she has been working at the Peoples’ Friendship University of Russia (RUDN; a Senior Lecturer at the Department of Mathematical Analysis (1993–2006), an Associate Professor at the Department of Economics and Mathematics Modeling (from 2007 to the present)). She has publications indexed by RISC (RF) and SSRN. Her scientific interests include the following: information technologies in economics and education, the economics of knowledge, human capital and its role in the economy of Russia and other countries, and intellectual resource of the modern economy.

Andrey Berezin is Director for Development for International Center for Emerging Markets Research at RUDN University, Moscow. His areas of interests are energy efficiency, risk analysis, strategy, energy conservation, sustainability, development of territories, global business, and public–private partnerships. Andrey took part in big infrastructure projects and development of waste heat recovery technology and natural gas vehicles in the Russian oil and gas sector. Andrey is a graduate of Harvard University, Ural Federal University, and RUDN University with graduate degrees in Civil Engineering, Investment Management, Finance, and International Economics.

Aleksei V. Bogoviz is a Doctor of Economics, Professor at National Research University “Higher School of Economics,” Moscow, Russia. Sphere of scientific interests: economic growth, sustainable development, globalization, developing countries, institutionalization of social development, planning of development and strategic planning, agriculture, agro-industrial complex, digital economy, state management. He has more than 200 publications in Russian and foreign peer-reviewed journals and books.

Vasiliy I. Dikhtiar received a Diploma of Higher Education of the Moscow State University (Faculty of Mathematics and Mechanics) in 1969. In 1984, by the decision of the Council of the Laboratory of Computer Technology and Automation of the Joint Institute for Nuclear Research, he received a degree of Candidate of Physics and Mathematics. In 2000, he received the title of Associate Professor by the decision of the Ministry of Education of the Russian Federation. He is currently a Deputy Director of the Hotel Business and Tourism Institute, Peoples’ Friendship University of Russia (RUDN University), and Associate Professor of the economics and mathematics modeling department, Peoples’ Friendship University of Russia. His scientific interests lie in the areas of bifurcation effects’ modeling, as well as tourism, hotel business, and service.

Natalia Gorodnova is a Doctor of Science in Economics and Professor at the Graduate School of Economics and Management, Ural Federal University in Yekaterinburg, Russia, where she teaches and leads a research program within legal regulation of economic activity program. Her research, teaching, and community service interests include innovation management, public economics, risk management, and insurance, development economics, and formation of regional medical cluster. Their current project is “The formation of public–private partnerships (PPP).” Natalia researches public economics, risk management and development economics, civil engineering, smart city concept, economics and management in construction, information systems, real estate economics, and green economics, urban planning, environmental impact assessment, and sustainable development.

Natalia Guseva is a Professor at the School of Business and Management, and the Director of the program “Doing Business in Russia” for the National Research University Higher School of Economics, Moscow. Natalia Guseva has a PhD in Management Sciences (Université Paris Dauphine, Paris, France) and Sociological Sciences (University of Economics and Finance, Saint Petersburg, Russia). Dr Guseva has published more than 110 research papers, including refereed articles and books. Her major scientific interests are modern management trends, organizational capabilities, cross-cultural management and negotiations in a cross-cultural context, foreign professionals, etc. Dr Guseva was a Senior Expert of the World Bank and the European Business Club, Moscow. She was a Visiting Research Professor at the School of Business and Public Management, The George Washington University, Washington, DC, USA, and a Lecturer at the School of Business, Buckinghamshire College, Brunel University, London, UK. She is a Member of the Association of International Business (AIB), the Association of North America Higher Education International, USA, and the French – Russian Association “Cercle Kondratieff,” France.

Konstantin V. Krinichansky is a Professor of the Financial Markets and Banks Department at Financial University under the Government of the Russian Federation. He earned the Doctor of Sciences in Economics from Moscow State University. He has published many articles in journals and international conferences, as well as book chapters and research monographs. His research areas include finance–growth nexus, the origin and development of the financial market and its institutions, and spatial economic development. Since 2016, he has been a Member of the Monetary Research Center (Sofia, Bulgaria). Dr Krinichansky is a Member of the editorial board of Regional Economics: Theory and Practice (Russia). In 2015, he was awarded a Certificate of Excellence in Teaching and Research by the Ministry of Education and Science of Russia.

Mikhail Kuzyk is a Deputy Director of the Centre for Industrial Policy Studies at the National Research University Higher School of Economics (Moscow, Russia). He graduated from Moscow Institute of Physics and Technology in 1999 and received his PhD degree in Economics in 2004. His fields of expertise include industrial policy, science, technology, and innovation policy, firm behavior, public policy evaluation, development institutions, state-owned companies, and privatization.

Andrey I. Pilipenko received his Diploma of Higher Education from Leningrad State University (Faculty of Mathematics and Mechanics) in 1972. In 1984 he received his degree of Candidate of Science in Physics and Mathematics from the Institute of Physical Chemistry of the USSR Academy of Science. In 1998 he received a degree of Doctor of Pedagogical Sciences from Russian Academy of Education. Being Full Professor for 40 years, he has been working as a Professor at many Russian universities: Lomonosov Moscow State University, Russian Academy of National Economy under the Government of the Russian Federation, etc. He has been invited as a Professor by Gumilyov Eurasian National University (Kazakhstan). He is currently a Professor at the “Institute of Management and Marketing” Department of the Russian Presidential Academy of National Economy and Public Administration. He has many publications, indexed by RISC (RF), Scopus, and SSRN. His scientific interests lie in the areas of bifurcation effect modeling in macroeconomics on the base of shocks theory, modeling factors of national financial stability, assessment of interference of monetary and fiscal policies, as well as psychological and cognitive barriers in education.

Olga L. Pilipenko received her Diploma of Higher Education from the Moscow State Institute for Foreign Relations in 1975. In 1981, she received her degree of Candidate of Science in Economics from the Institute of Latin America of the USSR Academy of Science. In 1994 she received a degree of Doctor of Economics from Lomonosov’s Moscow State University. Being Full Professor for 40 years, she has been working as a Professor at many Russian universities: Lomonosov’s Moscow State University, Russian Academy of National Economy under the Government of the Russian Federation, etc. She has been invited as a Professor by Hearning Institute (Denmark) and by Aarhus University (Denmark) in the 1990s. She is currently a Professor of the “Institute of Management and Marketing” Department of the Russian Presidential Academy of National Economy and Public Administration. She has many publications, indexed by RISC (RF), Scopus, and SSRN. Her scientific interests lie in the areas of bifurcation effect modeling in global financial markets on the base of shocks theory, modeling factors of global financial stability, of monetary circulation, of public finance, of monetary and fiscal policies interaction, and of cyclical development of economic and financial systems.

Zoya A. Pilipenko received her Master’s degree in Economics from Lomonosov’s Moscow State University in 2003. In 2004 she received her degree of Candidate of Science in World Economy, Finance, and Banking from Lomonosov’s Moscow State University. In 2013 she received her degree of Doctor of Science in World Economy, Finance, and Banking from Lomonosov’s Moscow State University. She worked as a Financial Analyst for the Insurance Company “Gefest,” the Joint Stock Company “Sberbank of Russia,” Central Bank of Russia. She has had teaching and research experience with 50 publications in scientific journals. She has achieved certificates in banking and finance from practical seminars in Great Britain, Luxembourg, Austria, Italy, and France. She is currently a Head of the Group of Rating Agencies and Price Centers, Department of Financial Market Strategic Development, the Central Bank of the Russian Federation. Her scientific interests lie in the shocks theory and the impulse model of cyclical economic development as well as peculiar properties of monetary policy formation and implementation in connection with specific sectors of the financial market.

Elena G. Popkova is a Doctor of Economics, Professor, President of the Institute of Scientific Communications, Volgograd, Russia. Sphere of scientific interests: economic growth, sustainable development, globalization, humanization of economic growth, developing countries, institutionalization of social development, development planning, and strategic planning. She served as a guest editor of International Journal of Educational Management, Great Britain (special issue, 2016, 2018); International Journal of Trade and Global Markets, Switzerland (special issue, 2017); Journal of Entrepreneurship in Emerging Economies (special issue, 2017); Contributions to Economics (Springer books series). She has more than 300 publications in Russian and foreign peer-reviewed journals and books.

Yulia V. Ragulina is Doctor of Economics, Professor, Head of the Chair “Compliance and controlling” of the RUDN University, Moscow, Russia. She is an Honored Worker of science and technology of the Russian Federation and an Honored Worker of higher professional education. She is the author of more than 200 publications, including monographs on state control and audit, state and municipal management, and economics of municipal entities. She is a co-author of the works by the Harvard University researchers.

Vera Rebiazina, PhD, is an Associate Professor at Strategic Marketing Department and Academic Director of the Bachelor program “Marketing and Market Analytics,” National Research University Higher School of Economics, Moscow, Russia. She holds a PhD degree in Economics from the Graduate School of Management, Saint Petersburg State University. Her research interests include marketing, organization capabilities, marketing strategies in emerging markets, innovation marketing, e-commerce, and relationship marketing. Vera Rebiazina is the National Representative of Russia at the European Marketing Academy (EMAC) and a Member of American Marketing Academy (AMA), GAMMA, and the International Society for Professional Innovation Management (ISPIM). Vera Rebiazina is the Author of more than 50 publications on marketing in the leading Russian and international scientific journals.

Yuri Simachev is a Director for Economic Policy, Director of Centre for Industrial Policy Studies at National Research University – Higher School of Economics (Moscow, Russia). Dr Simachev has focused on recommendations for federal authorities on innovation and industrial policy, development institutes, private sector development, and SMEs. He is a Member of the Expert Council of the Russian Government. Dr Simachev is a Graduate of Lomonosov Moscow State University and Higher School of Economics. He is a Candidate of Science.

Nikolay V. Studenikin, Associate Professor of the Economic Policy and Public–private Partnership Department, graduated from the Lomonosov Moscow State University, The Faculty of Philosophy, the School of Political Science – Specialist (degree with honors), PhD in Political Science. His main fields of research and career interests include public–private partnership (PPP), sustainable development, green economy, and strategic communications. At Moscow State Institute of International Relations (MGIMO) he teaches such courses as corporate social responsibility and strategic communications in sustainable development. Dr Studenikin is the Author and Co-author of more than 50 scientific publications and books. In addition to his academic career, Nikolay V.Studenikin is a devoted promoter of socially oriented activities. Currently, he is the Director of the Foundation “New Quality of Life.”

Irina Vaslavskaya has Doctoral degrees in Economics. She began her professional career as a Senior, and then a Leading Researcher of the Department of Scientific Research Institute of Economics, the Russian Academy of Science (2000–2013). She was invited as an Associate Professor by many universities in Moscow, as well as by Kazan Federal University, the Russian Federation (2013–2015). Now she is a Head of the Department of Enterprises and Organizations’ Economics, Kazan Federal University (the Russian Federation) (2016–2018). She has numerous publications, scientific journals. Her scientific interests lie in the areas of institutional economic theory, public–private partnership organizational forms in Russia, state and public sector’s functions in economic systems, as well as factors of slowing economic growth at the globe.

Yan Vaslavskiy, PhD in Political Science, is Head of Department of Analytics and Expertise, State Duma of the Federal Assembly of the Russian Federation. He is an Associate Professor at the Department of Political Theory, MGIMO University. He was a Director of Rethinking Russia think tank (2015–2017), Director of the School of Government and International Affairs, MGIMO University (2013–2017), and held the position of APEC CEO Summit Program Director in 2012. He is a Member of the Board of the Russian Political Science Association and the Political Development Research Committee at the International Political Science Association. His principal research interests are domestic politics and foreign policies of Russia and the USA, problems of democratic development, world energy, and energy policy.

Elena B. Zavyalova is Head of the Economic Policy and Public–Private Partnership Department of MGIMO University, having graduated from MGIMO University, as Specialist (degree with honors), and has a PhD in Economics. She teaches different courses at MGIMO, such as Russian economy, economy of the former Soviet countries, national economic security, economic policy, public–private partnership, sustainable development, and international development assistance. Dr Zavyalova is an active participant in different international scientific programs, for instance, programs of the World Bank, Beijing Normal University (China), and others. She is a Co-author of several research papers for the Ministry of Economic Development of the Russian Federation, and Author of over 60 scientific publications. Dr Zavyalova has some official rewards – Certificate of Honor of the Council of the Federation of The Federal Assembly of The Russian Federation, Reward “200 Anniversary of the Ministry of the Foreign Affairs,” and others.

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