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Book part
Publication date: 19 June 2019

Bruno S. Sergi, Elena G. Popkova, Natalia Vovchenko and Marina Ponomareva

This chapter elaborates on the perspectives of financial development of countries of Central Asia and China through cooperation with Russia. The authors determine…

Abstract

This chapter elaborates on the perspectives of financial development of countries of Central Asia and China through cooperation with Russia. The authors determine financial resources for the development of the countries of Central Asia and China and figure out possible scenarios for attracting additional financial resources and conclude that financial resources have a decisive role in socioeconomic development. It is substantiated that the increase and expansion of cooperation with Russia are the preferable scenario for attracting additional financial resources. The authors recommend expanding cooperation with Russia within the implementation of the selected optimal scenario are given.

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Asia-Pacific Contemporary Finance and Development
Type: Book
ISBN: 978-1-78973-273-3

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Book part
Publication date: 24 October 2018

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Contemporary Issues in Business and Financial Management in Eastern Europe
Type: Book
ISBN: 978-1-78756-449-7

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Book part
Publication date: 19 June 2019

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Asia-Pacific Contemporary Finance and Development
Type: Book
ISBN: 978-1-78973-273-3

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Book part
Publication date: 9 November 2020

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Circular Economy in Developed and Developing Countries: Perspective, Methods and Examples
Type: Book
ISBN: 978-1-78973-982-4

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Book part
Publication date: 29 October 2018

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Models of Modern Information Economy
Type: Book
ISBN: 978-1-78756-287-5

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Book part
Publication date: 1 August 2019

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Specifics of Decision Making in Modern Business Systems
Type: Book
ISBN: 978-1-78756-692-7

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Article
Publication date: 2 July 2020

Agnessa O. Inshakova, Evgenia E. Frolova, Marina V. Galkina and Ekaterina P. Rusakova

The purpose of the paper is to model and develop recommendations for regulating the development of social market economy under the influence of noneconomic factors.

Abstract

Purpose

The purpose of the paper is to model and develop recommendations for regulating the development of social market economy under the influence of noneconomic factors.

Design/methodology/approach

The authors determine the existing examples of social market economies, in which quality of life clearly correlates with economic growth – and the research objects are thus determined. Then, the list of noneconomic factors, which could be quantitatively characterized based on the official statistics, is formed. The econometric model of dependence of the rate of economic growth of the selected noneconomic factors is created, and it is determined at which combination of these factors' influence it is possible to reach the target rate of economic growth of social market economy. Data are processed automatically by compiling the descriptive statistics and conducting regression analysis within the method of imitation modeling and multiparametric nonlinear optimization.

Findings

It is shown that, unlike the classical market economy (pure capitalism), in which economic factors dominate, social market economy (mixture of capitalism and socialism) is also influenced by noneconomic factors. This changes the view on economic growth as one of the most significant processes in the economic practice and one of the key research objects in economics. It is substantiated that there's a necessity not for micro- (as in the classical market economy) but for macroeconomic view on economic growth through the prism of factors that are external to entrepreneurship.

Originality/value

The results of imitation modeling allowed reducing the uncertainty and reflecting the specifics of economic growth of social market economy. The compiled model of multiple linear regression allowed narrowing down the circle and outlining four main noneconomic factors of economic growth of social market economy. The authors' recommendations for regulation of these factors are offered, and a mechanism of regulation of development of social market economy based on noneconomic factors management is offered.

Details

International Journal of Sociology and Social Policy, vol. 41 no. 1/2
Type: Research Article
ISSN: 0144-333X

Keywords

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