Preview

Russian Journal of Economics and Law

Advanced search
Vol 15, No 1 (2021)

ASPECTS OF DIGITAL ECONOMY

5-14 439
Abstract
Objective: to analyze the totality of normative legal acts regulating public relations in the sphere of digital technologies and digital legislation, to determine the legal methods of regulating these relations, as well as the prospects for the digital legislation development.Methods: a formal legal approach, as well as a method of literal interpretation of the provisions of the current legislation. Since digitalization as the introduction of digital technologies in various spheres of life helps to make decisions, on the one hand, without human participation, but, on the other hand, affecting many aspects of social life (healthcare, culture, education, labor, etc.), the study used communicative and anthropological approaches from the viewpoint of assessing the digital legislation impact on human rights and the legitimate rights and interests of citizens, as well as information perception of the digital legislation norms.Results: based on the analysis of normative legal acts regulating public relations in the field of digital technologies, a conclusion is made about the formation of digital legislation as a complex branch of legislation of the new digital reality that regulates social relations in the field of numbers, algorithms, big data, etc. The authors revealed that in the process of regulating relations in the field of digital technologies the legislator uses different methods: stimulating, limiting, dispositive. It is proposed to consider digital legislation as a functional legislation that ensures the implementation of the norms of other branches of legislation: investment legislation (attracting investments through an investment platform), legislation in the field of financial services and securities market, legislation in the field of medical services, etc.Scientific novelty: the article formulates the concept of digital legislation, which is understood as a complex legislation that combines the norms of private and public law and defines the methods of regulating relations arising in the field of digital technologies.Practical significance: the main provisions and conclusions of the article can be used in scientific and pedagogical activities, as well as in the practice of applying the norms of digital legislation.

ECONOMICS AND NATIONAL ECONOMY MANAGEMENT

15-30 220
Abstract
Objective: estimation of the risks of forming the budget incomes of the Russian subjects as a tool for determining the resilience of the regional subsystem.Methods: abstract-logical method, economic-mathematical analysis, coefficient analysis. Results: it was found that for less economically developed regions, the most stable income is gratuitous revenues. It is proved that in accordance with theoretical concepts, risks are determined by the income stability, while in fact, for regions with low and intermediate levels of economic development, the priority role is played by the possibilities of mobilization, which are most obvious for gratuitous revenues. Based on the calculation and evaluation of the income structure indicators, variations of budgets by income and growth rates of the key types of budget income, and using the Federal Treasury data on execution of budgets of the Volga Federal district subjects, it was found that the lowest level of variation is shown by the tax on physical persons incomes; to a lesser extent - the tax levied within the simplified system of taxation, and the tax on property of organizations.Scientific novelty: the authors formulated a hypothesis of a “core” of the subject’s budget revenues, formed with the revenues with a low probability of deviations and high stability, reflected in a single and consistent information base and reflecting the resilience of the region’s economy. It is found that the composition of the “core” income of such regions does not meet the criteria of economic feasibility in the interests of social development and should be altered.Practical significance: the study results can be used in the development of budget and tax policy areas that provide for the decentralization of budget system revenues and the introduction of risk management in the public administration sector.
31-42 328
Abstract
Objective: to develop methodological foundations and tools for evaluating research and development activities carried out in order to diversify production at enterprises of the military-industrial complex, as well as to predict their prices. Methods: comparative analysis, economic and mathematical modeling, and expert assessments.Results: the implementation of diversification measures carried out by enterprises of the military-industrial complex is the most important condition for their innovative development today. Most of these activities are based on the results of research and development work carried out with the aim of creating new diversified products. The effect of the implementation of these works is to change the range of products created, improve their quality, increase labor productivity, etc. The effectiveness of research and development activities aimed at ensuring the process of production diversification largely depends on the method of calculating their price. The article presents proposals for the development of procedures for evaluating research and development works and forecasting their prices in today's difficult economic conditions that have a negative impact on the process of production diversification.Scientific novelty: based on the analysis of the general laws of management theory, the system of criteria is analyzed and refined, which is used for evaluating research and development work performed by scientific organizations and design bureaus in the interests of implementing production diversification programs at enterprises of the military-industrial complex. Based on the formulated methodology, which takes into account the specifics of pricing for the results of research and development work carried out in the interests of ensuring national security, proposals have been elaborated for the development of techniques for economic evaluation of these works and tools and for predicting their prices.Practical significance: the results of the study can serve as a basis for the development and adjustment of plans for the implementation of scientific works carried out to provide for production diversification at the enterprises of the military- industrial complex.
43-53 260
Abstract
Objective: to study the current state of the legislative regulation of nicotine-containing products turnover and consumption; to identify the main problems in this area and to suggest possible ways to solve them. Methods: the methodological basis of the work is interdisciplinary, systematic and comparative approaches, as well as general scientific methods of cognition: induction and deduction, analysis and synthesis, abstraction, observation, and empirical methods. Results: the trend of the recent years has been the transition from the use of traditional nicotine products to electronic means of nicotine delivery, which is confirmed by a large amount of data and is explained by a number of advantages. However, the potential threats from the use of alternative nicotine-containing products have not been sufficiently studied and are accompanied by a weak legal framework for their use. In the article, the author considers the features of state regulation of nicotine-containing products that are not related to tobacco products, and analyzes the contradictions and shortcomings of legislative solutions in this area. The main consequences of equating nicotine-containing products with tobacco products are systematized, both in terms of the impact on the nicotine use restriction and of referring them to excisable products. Legislative solutions concerning the use of food nicotine-containing products and products intended for chewing, sucking, and sniffing are also analyzed. Scientific novelty: recommendations are proposed to eliminate the problems identified during the analysis of the regulation of the nicotine-containing products turnover and use. The presented measures are aimed at mitigating the regulatory impact of the nicotine-containing products use while reducing the negative impact of such products on public health.Practical significance: the provisions and conclusions presented in this paper can be used in the development of regulatory legal acts aimed at amending the legislation regulating the nicotine-containing products turnover and consumption.

CRYPTO-WORLD AND DIGITAL FINANCE

54-76 920
Abstract
Objective: to consider the digital currency of Central Banks as the third form of money of a state; to identify advantages and disadvantages of this new form of money; to clarify the classification of digital currency of the Central Bank; to analyze the features of infrastructure development of the Central banks fast payments system and private stable coins market; to present the author’s conception of the Bank of Russia digital ruble.Methods: the article uses empirical, historical, logical, country-oriented, comparative and statistical methods of the system approach, which allow studying the possible designs of the Central Bank digital currency in dynamics.Results: the article reveals the macroeconomic factors of the emergence of the Central Bank digital currency; defines the types of classification of the Central Bank digital currency; shows the possible pros and cons of issuing and circulating of the third form of state money; considers the fast payments system and the private stable coins market; clarifies some consequences for monetary and financial stability policy during the transition of the Central Bank to digital currency; shows the advantages and disadvantages of the Central Bank digital currency through the prism of three aspects: the anonymity level, the confidentiality degree and the guaranteed remuneration for market participants; and analyzes the features of the Bank of Russia digital ruble development in the medium term.Scientific novelty: the article shows that the Central Bank digital currency is just the third form of state money, along with cash and non-cash; classification of digital currency has allowed the Central Bank to identify the features of the possible design of digital currency; the prospects and problems of price and financial stability in terms of the circulation of digital currency are considered; an alternative to the Central Banks digital currency is the system of fast payments and private stable coins market; The Bank of Russia should build the digital ruble design on the basic characteristics of the banking system of the Russian Federation (Model D) and the mechanisms combining the technologies of the centralized and distributed ledgers of the Bank of Russia. Practical significance: the main provisions and conclusions of the article can be used to develop a possible design of the digital ruble in the medium term, as well as to clarify the Bank of Russia current target mandates, tools, channels and mechanisms of monetary and financial stability policy, directly related to new trends in the development of both the world economy in general and the Russian economy in particular.
77-84 270
Abstract
Objective: to review a session of the “Digital Finance” permanent seminar at the Institute of Economics of the Russian Academy of Sciences which discussed the prerequisites and consequences of the issue, emission characteristics and circulation of the Central Bank digital currency; to review the discussion of a scientific report “Digital ruble (DR): arguments for and against”. Methods: based on the audio recording, an overview of the discussion at the permanent seminar “Digital Finance” was prepared. Results: the main prerequisites of the digital ruble issue were defined, analyzed through the prism of both the “digital experience” of several Central Banks (of Sweden, China, the Bahamas, the European Union and Russia) and the estimates of the rate of many countries’ transition to the Central Bank digital currency. The issues of the digital ruble issuance and circulation features were considered. The consequences of the digital ruble issuing were analyzed, which consist in changing the roles of Central Bank mandates and intermediary functions of banks, as well as in the transformation of global challenges directly related to the issuance of the Central Banks digital currency.Scientific novelty: the survey shows that the Central Bank digital currency is the third form of Central Bank money, which all the countries and their regulators need to learn to live and work with in new ways. It is stated that digital currency is not the only digital token (digital currency, or programmable code), but also an account (a current account in the form of a deposit). It is shown that the digital ruble can act as a financial asset and a financial tool, bringing a certain percentage (including negative). The components are listed that determine the future design of the digital ruble, directly related to the Central Bank technological platforms. It is explained why the digital ruble introduction would transform the existing Central Bank mandates, the activities of financial market entities, and the regulation methods of monetary authorities.Practical significance: the main provisions and conclusions of the review can be used by the Bank of Russia in designing the digital ruble, as well as the concept and platform of the Central Bank digital currency.

THEORY AND HISTORY OF LAW AND STATE

85-93 293
Abstract
Objective: to study the innovative activity of the judicial authorities of the Russian Federation.Methods: dialectical approach to the cognition of social phenomena, which determined the choice of the following research methods: formal-logical, comparative-legal, and sociological.Results: the article attempts to comprehend the court activity as creative activity introducing many novelties to the interpretation of factual circumstances, to the understanding of legal values, and to the implementation of the latter. A court decision is always innovative to the extent that it introduces a novelty into the law and fact interpretation, to the extent that it gives an answer to a question that allowed for different decisions, and to the extent that it removes the existing uncertainty. The level of innovativeness depends on the state of actual circumstances, the level of established judicial practice, the novelty and degree of certainty of legal norms, the sufficiency of legislative regulation, as well as on the competence of a particular court. Courts are often producers of scientific ideas, political and legal concepts, legal and moral principles of law. In this case, the mutual connection between legal science and practice is emphasized. On the one hand, it is judicial practice that feeds the development of the legal sciences, and on the other hand, this practice itself is constantly fertilized by the intelligence of scientific research addressed to it.Scientific novelty: innovations in court decisions are permissible if they meet the general requirements of constitutionalism, are made within the framework of the substantive law and do not go beyond the authorities of the relevant body. Various court decisions are innovative to varying degrees, but they do not lose their other positive qualities if innovation is viewed only in a subjective light in relation to the given circumstances and given participants in public relations. Recognition of the innovative nature of judicial activity at the theoretical level requires the full-fledged legal recognition of judicial precedent as a source of Russian law.Practical significance: the conclusions and provisions of the article can be used in scientific, legislative and law enforcement activities, the educational process of educational organizations of higher education.

CRIMINAL LAW AND CRIMINOLOGY

94-105 246
Abstract
Objective: to study the issues of international cooperation of the Group of Twenty aimed at prevention of corruption under the global financial crisis, aggravated by the COVID-19 pandemic.Methods: in the course of the research, the author used general scientific techniques and methods of cognition based on the collection and processing of empirical data. The methodological basis of the study was the methods of analysis, synthesis, and comparison. In addition, a number of English-language and Russian sources were processed with the content analysis method. Results: this paper shows the evolution, interrelationships, reference information, and overview of the past and present of the G20, as well as its relations with international organizations and other state and non-state actors. In the course of the conducted research, the author came to the conclusion that today, in order to effectively counteract corruption manifestations, numerous international organizations are increasingly using their levers and mechanisms. A special role in activating many economic processes, and, accordingly, in combating corruption in the global economy, is assigned to the Group of Twenty - the G20. The author also convincingly proves that the reasonable and transparent use of preventive resources at the global level is extremely important at present. The implementation of the highest standards of integrity within the framework of the G20 activities will reduce the level of corruption.Scientific novelty: it is expressed in the modern analysis of the Group of Twenty role in counteracting corruption at the global level. It is also of methodological importance for the study of the role of international procedures necessary to assess the effectiveness of measures and compatible efforts to combat corruption.Practical significance: the possibility to use the study results in combating corruption. For the most part, they can be used in the preparation of various management decisions and policy documents aimed at combating corruption in the Russian Federation and the world.

TRANSLATED ARTICLES

106-134 278
Abstract
Objective: to research the hybrid securities test as a regulatory tool against pyramid schemes.Methods: dialectical approach to cognition of social phenomena, allowing to analyze them in historical development and functioning in the context of the totality of objective and subjective factors, which predetermined the following research methods: formal-logical, comparative-legal, and sociological.Results: the work examines federal securities law as a tool to deter and regulate illegal pyramid schemes. Pyramid schemes are among the most prevalent forms of consumer fraud in the United States and they victimize thousands of individuals every year. The rise of the internet and social media has made it even easier for pyramid promoters to target potential recruits, often those who are already particularly vulnerable to consumer fraud. The federal securities laws have proven to be robust regulatory tools against pyramid schemes. However, the test used by federal courts to determine whether a scheme meets the definition of a security has produced uncertainty and inconsistency in the law. This work proposes that when pyramid schemes are alleged, federal courts should apply a hybrid securities test that incorporates aspects of risk capital analysis. In so doing, courts will be better equipped to focus on the economic reality of pyramid schemes and to draw a more principled line between illegal pyramid fraud and legitimate enterprises. Scientific novelty: the work proves that the problem of pyramid fraud is only growing. Despite the investment of significant governmental resources, undeterred fraudsters continue to form new pyramid schemes with growing regularity. The federal securities laws were enacted to protect the public from precisely these kinds of unsubstantiated, misleading, and fraudulent investment opportunities. However, courts inconsistently applying the Howey test continue to draw unprincipled lines and exclude pyramid schemes from the ambit of the federal securities laws based on the red herring of investor efforts. This work argues not that the federal courts should ignore the role played by distributors in pyramid schemes but rather that they should focus attention on the degree of control that investors may exercise as a function of that participation.Practical significance: the main provisions and conclusions of the article can be used in scientific, pedagogical and law enforcement activities when considering issues related to using the hybrid securities test as a regulatory tool against pyramid schemes.
135-173 339
Abstract
Objective: creating the corporate governance structure and legal regulation mechanism of blockchain protocols.Methods: dialectical approach to cognition of social phenomena, allowing to analyze them in historical development and functioning in the context of the totality of objective and subjective factors, which predetermined the following research methods: formal-logical, comparative-legal, and sociological.Results: Blockchain technology was born out of a Cypherpunk vision for regulation without sacrificing privacy. This vision feeds a call by some in the blockchain technology ecosystem to view computer code as the only law applicable to blockchain protocols, transactions conducted on the protocols, and DAOs. The code of certain protocols, such as the Bitcoin blockchain and Ethereum, currently embody their Cypherpunk cultural origins, placing a premium on privacy and governance mechanisms that preserve privacy. But that code can change. In fact, laws enacted and enforced by governments may act as the stimuli for such change. Indeed, such stimuli, for better or worse, are already in play, with coders ceasing work for fear of legal repercussions. Adopting a contract-based governance system in which the rules and expectations are clearly defined empowers blockchain protocol communities to preserve as much of their cultures and visions as possible. Adopting these contracts also requires blockchain communities to engage in open, active, and thoughtful conversation about their collective culture and vision. Further, basing blockchain governance structures in contracts that loosely resemble corporate governance structures allows such communities to tap into centuries of scholarship and experimentation in a functionally equivalent governance arena. Scientific novelty: the work proves that the biggest cultural impact of (un)corporate crypto-governance may be on the culture of traditional corporations. Indeed, one significant lesson of a corporate governance model for off-chain governance may be a sharpened recognition that “code as law” is a subsystem of regulatory norms within the greater legal system. Viewed through systems analysis, the result is a two-way recognition of the interconnected roles of code and law in limiting behavior within the blockchain ecosystem. In other words, the code informs the law and its application to a blockchain ecosystem. Meanwhile, law informs behavior and activities undertaken through the code. The result is that the intersection of code and law can impact our understanding of how to apply the law in more traditional scenarios as well.Practical significance: the main provisions and conclusions of the article can be used in scientific, pedagogical and law enforcement activities when considering issues related to (un)corporate crypto-governance.

REVIEWS OF CONFERENCES

174-186 243
Abstract
Objective: to familiarize a wide range of the Journal readers with the results of the “Interdisciplinarity-2020” conference and the new ideas and research results presented in the reports of Russian and foreign scientists focused on the problem of intelligence in the digital world. Methods: a systematic approach to the cognition of social phenomena has determined the use of the following research methods: analysis, synthesis, comparison, structural and functional methods, content analysis.Results: the content of the main reports presented at the international scientific event is described (by G. B. Kleiner, D. V. Ushakov, R. M. Nureyev, E. V. Balatsky, S. G. Kirdina-Chandler and other researchers), which analyze various aspects of the functioning and development of intelligence in the digital world, the types and levels of intelligence, and the impact on socio-economic processes. The speakers presented various views on the processes of digital transformation of the economy and society, including the analysis of the main risks of implementing a digital project in Russia in terms of its impact on economic growth in the context of global political and economic trends. The thesis is formulated about the inevitability of the transition to a new type of economy - the intellectual economy, in which knowledge is the subject, and intelligence is the means of labor. Speakers from interdisciplinary positions hightlighted a number of urgent fundamental scientific problems that need to be solved: the creation of intellectual economy institutions; the change of the legal environment; the formation of a legal system that ensures the functioning of intellectualized sociotechnical systems. The complex of problems and tasks in the field of higher education aimed at the formation of intellectual competencies for the digital world is considered, the role and position of universities in the modern world are assessed. Scientific novelty: interdisciplinarity as one of the current trends in the development of scientific knowledge about man, nature and society is aimed at overcoming the fragmentation of disciplinary knowledge to ensure the effectiveness, consistency and harmony of social management and design. The novelty of the problems discussed at the conference was due to a special focus - “Intelligence in the digital world: influence, management, development”. Intelligence is considered as the main means of achieving social goals at both macro-, meso- and microsocial levels. The reports presented in the article are focused on a comprehensive analysis of the key factors of socio-economic and humanitarian development, the most important of which today are knowledge and intelligence. The scientific novelty of the discussed problems lies in the totality of the object, subject and research methods: a comprehensive analysis of intelligence in the modern digital world; expansion of the semantic content of this concept; the analysis of the phenomena of various types of intelligence interweaving (natural, artificial, social), based on an interdisciplinary approach; and uniting the efforts of economists, sociologists, linguists, philosophers, lawyers, historians, as well as representatives of technical branches of knowledge.Practical significance: the main provisions and conclusions of the review can be used in scientific and educational activities to improve the level and quality of information interaction when implementing interdisciplinary practices of the academic community, to identify and disseminate the best practices of interdisciplinary research, as well as to improve the management and planning of innovation activities of academic organizations, evaluation and expertise of research activities.


ISSN 2782-2923 (Print)