Search

Legislation and regulation have been effective in reducing the gender wage gap in developed countries; however, the gap still exists globally, and progress towards narrowing the gap has been unacceptably slow even in regions where it is improving. This study presents the analysis of gender wage gap in Kenya’s urban labor market by using the World Bank Skills Towards Employability and Productivity Survey (WBSTEPS). This study employed Mincer earnings regressions with Heckman selection correction and the Blinder-Oaxaca and Neumark decomposition procedures to answer the research questions. The results of the wage determination and participation in the labor market show that there is no selectivity-bias problem. Personal characteristics such as education and age, as well as work-related characteristics, are important factors in determining earnings. The magnitude of the gender wage gap varies across the wage distribution, and the results of the wage decomposition reveal that women in urban Kenya earn 84.5-to-86% of men’s earnings. The earnings gap is overwhelmingly due to differences in returns to endowments, which account for between 70% and 94.7% of the total earnings gap. Admittedly, the study found evidence of discrimination against women in the returns to endowments, but also observed pronounced favoritism towards men. However, discrimination against women is more pronounced than favoritism towards men. Addressing the gender wage gap in Kenya requires a multifaceted approach that tackles both systemic biases against women and structural barriers that hinder women from accessing equal opportunities in education, training, and career advancement and government policies that minimize favoritism towards men.

This study uses an analytical approach to investigate the emerging disconnect between firm size and financial performance, as observed recently from a set of long-term data collected from U.S. public firms. By holding all organizational aspects of a firm constant, it confirms the validity of the old saying that the larger a firm is, the better chance it can secure advantages against rivals and the higher returns it can fetch. However, if the assumption about organizational aspects is removed, the present study shows that if a firm employs its assets to increase production output through hiring additional employees, then the consequently increased organizational inefficiency, as caused by interactions of the employees, will soon erase the expected increase in the output. Additionally, it is also shown, among other results, that when a firm hires additional human labor to meet the increasing market demand, the expected profit will decline after first reaching its maximum level. These results crystalize what has been speculated and what have been empirically observed. In the conclusion section, it is recommended that increasing a firm’s size, in terms of the number of employees, is not a realistic, efficient solution to meeting the challenge of increasing market demand. Instead, any genuine solution must satisfy the condition that it does not increase the organization’s inefficiency of the firm, such as increasing the magnitude of automation and/or digitization.

West Africa has been grappling with various security challenges prompting governments’ intervention via military expenditure both at the country and regional level. Given the sporadic surge in military expenditure in the region and the potential effect such expenditure may exert on investment which is a sin qua non to the development process of any economy or region, this study utilizes the augmented mean group (AMG) approach and the Granger non-causality test in investigating the impact and causal relationship between investment and military expenditure in the Economic Community of West African States (ECOWAS) between 1980 and 2020. With country-specific cross-dependence and heterogeneity adequately accounted for, the study found that military expenditure has a dampening impact on investment at both the panel and country levels; unemployment adversely impacts investment; whereas economic growth stimulates investment (catalytic effect) in the ECOWAS, although at differing levels of significance. The study also established a long-run relationship among the variables; with only economic growth Granger causing investment. The study thus recommends that country-specific and regional-based military policies be established to glean economic growth through viable investment.

The mounting environmental concerns have become a pressing issue across industries. Nevertheless, the banking sector has a distinct influence in shaping economic growth and development. This study sought to evaluate the impact of green banking in strengthening corporate value through its level of sustainability reporting in order to address these concerns. A research framework was developed based on theoretical support. The sampled data was collected from banks listed on the Indonesian Stock Exchange from 2018-2021. An empirical analysis was performed through hierarchical regression. The study’s findings indicated that green banking positively and significantly impacts firm value. Furthermore, there is a mediating effect between green banking and business value due to the quality of sustainability reporting. The empirical test revealed that the quality of sustainability reporting has a mediating effect to some extent. The results also showed that there is an interaction between business size (assets) and correlations between firm value and green banking. By undertaking a data-driven research that explains the impact of green banking on business value, this study aims to fill a significant gap in the body of knowledge on green banking and sustainability reporting.

The paper explores the relationship between the shadow economy, corruption, and taxes in 25 high-financial developed countries (HFDCs) and 30 low-financial developed countries (LFDCs) using the PVAR method. The results of the impulse-response function show that the corruption perception index (CPI) has a positive correlation with tax revenue and the shadow economy in HFDCs, while tax revenue and the shadow economy are negatively correlated. In contrast, in LFDCs, the shadow economy has a positive correlation with tax revenue and a negative correlation with the CPI. In addition, the study also suggests that there is no relationship between tax revenue and the CPI. From the above findings, we propose several related policies for each group of countries.

This research aims to explain the influence of organizational justice and employees' spiritual intelligence in banks on the potential for fraud, with internal control systems as moderating variables. The method used in this research is asosiatif quantitative. The data source used in this research is primary data. Data collection techniques in this research use a questionnaire. The sample in the research is determined using the simple random sampling method and using the Solvin formula to determine the minimum sample, with a total sample of 126 bank employees in Dompu Regency. The results of this research indicate that organizational justice and spiritual intelligence have a significant negative effect on the potential for fraud. The better the organizational justice and the higher the spiritual intelligence of employees in the workplace, the lower the potential for fraud. Conversely, internal control systems do not moderate organizational justice and spiritual intelligence on the potential for fraud. Internal control systems are unable to weaken or strengthen the influence of organizational justice on the potential for fraud due to mismatches between the design or implementation of internal control systems and the specific needs of the organization or work environment. Internal control systems are unable to weaken or strengthen the influence of spiritual intelligence on the potential for fraud in a context where it is assumed that internal control systems are not implemented. A high level of spiritual intelligence in employees can have a positive impact on reducing the potential for fraud.

The purpose of this research is to investigate the effect of website reputation and quality on consumers' emotions, risk perception and purchase intention in Iraq. This research is based on the practical purpose and in terms of the data collection method to test the hypotheses of the descriptive-correlation type from the field branch. The statistical population of common consumers in five reliable Iraqi websites includes; Zain Cash Online for buying charge cards, paying bills, and buying all kinds of products, including electronic appliances, household appliances, and websites; Dekan, Zodmal and Souq Al-Maftouh, Alaideen in Basra, a website for online shopping of household appliances, electronics and personal appliances has been available in January 2023 and due to the un limitedness of the statistical population, based on Morgan's table, 308 questionnaires were sent electronically on Facebook and We Chat social networks to the users of the statistical population, and 292 questionnaires were sent as a source of statistical data for the research has been used To test the hypotheses and relationships between the variables of the research model, multivariate analysis and structural equation modeling method have been used. Jinang and Lennon (2013) questionnaire was used to collect data, its validity was confirmed by calculating convergent and divergent validity, and its reliability was confirmed through Cronbach's alpha index. Structural equation modeling approach was used in the statistical analysis. Based on the results of the research, it showed that there is a positive and significant effect between the quality of the website and consumers' emotions and the perception of less risk. However, website reputation did not have a positive and significant effect on consumers' emotions and perceived risk. Also, the results show that consumers' emotions and perception of less risk have led to purchase intention behavior in consumers.

This research was conducted to provide an overview of the benefits felt by MSMEs in the food sector in the form of increased turnover, customers, and assets in implementing QRIS (Quick Response Indonesian Standard) as an alternative digital-based payment media. A qualitative approach with the case study method was used in this research. The object of this research is QRIS itself, then MSME actors operating in the culinary sector are the subjects of this research. The focus of this research lies in MSMEs in the Mandalika SEZ area because this area is now one of the tourist areas that is currently busy with visitors. This research uses data collection methods in the form of structured and in-depth interviews, documentation, and also observation. Interviews were conducted with MSME actors in the area around the Mandalika SEZ. The selection of resource persons is based on businesses that have permanent buildings, have implemented or are currently implementing QRIS, have employees, and are preferably owned by the local community. After the data is collected, the researcher analyzes the data and then presents it so that the research results are obtained, then a conclusion is drawn. The results of this research show that the existence of a QRIS-based digital payment system can provide benefits for MSME players in terms of increasing turnover and customers but has not yet caused an increase in assets.

This study delves into the profound influence of artificial intelligence (AI) on the fiscal dynamics of the public sector. It chiefly examines how AI can enhance aspects such as efficiency, precision, openness, and responsibility in public financial administration. Literature research is included in qualitative research methods. To conduct Public Sector Finance literature. This research was conducted by the SLR method or systematic literature review by collecting data through the PRISMA method sourced from the Scopus database case studies focusing on AI deployment across various nations. Data It integrates both quantitative and qualitative data analysis to assess AI's impact and efficacy within the sphere of public finance. The final number of data was chosen 27 data to be selected. The primary discoveries reveal that AI harbors considerable potential to refine financial procedures in the public sector. This includes augmenting automation, diminishing human error, and bolstering decision-making grounded in data analysis. However, the study acknowledges challenges like data security concerns, technological infrastructure prerequisites, and the scarcity of adequately skilled personnel. It proposes resolutions such as establishing robust policy frameworks and implementing human resources training initiatives to surmount these hurdles. The implications of this research hold substantial significance for policymakers and practitioners in the public domain. AI is reshaping not just the operational modalities of public financial entities but also influencing governmental policy-making, strategies for human resource development, and the interaction dynamics between citizens and the government. The article underscores the necessity for a proactive and responsive adaptation of AI technologies, advocating for their integration to guarantee effective and transparent governance in public finance for the future.

In today's world, all businesses are evolving. Communication and information technology, as one of the new technologies, has caused tremendous changes in the business world. In the world of e-commerce, companies have the opportunity to communicate more with both suppliers and customers, which on the other hand leads to increased sales and access to more resources with reasonable prices and lower costs, and reduces the number of intermediaries. Will be the purpose of this research is to design the model of electronic business and the sustainability of banking services using the theme theory method. The research method in this research is qualitative and theme analysis is used. The sample selection method was purposeful sampling and the data collection continued until the theoretical saturation stage using in-depth and semi-structured interviews. In total, theoretical saturation has been obtained from interviews with 18 research experts. E-business strategy can be a kind of road map guiding the organization to facilitate the achievement of its goals and provide services to customers on a regular and continuous basis. To take advantage of opportunities and avoid threats, banks need to develop their services in line with technological changes. These changes create the opportunity to spread the use of electronic banking among people more easily.

Individual self-efficacy varies from person to person, especially by gender; previous research has shown that male students outperform female students in economics, science, computer, and math. There were inconsistencies between gender-affected self-efficacy, discipline, and motivation. Furthermore, a dearth of research was carried out in the Sri Lankan context. This study, therefore, examines the academic self-efficacy on the intrinsic motivation of first-year undergraduate management students at the Trincomalee Campus, Eastern University. The objectives of the research are to find out the influence of academic self-efficacy on intrinsic motivation and gender moderates the relationship between academic self-efficacy and intrinsic motivation of undergraduates. This is quantitative research. The conceptual variables are performance accomplishment, vicarious experience, verbal persuasion, physiological & emotional state, gender, and intrinsic motivation. Selected a hundred samples from the 2019/2020 academic year on the equal basis of sex and used the analytical methods are bivariate, independent sample T-test, and multivariate analysis. According to the study’s findings, gender plays a moderator between academic self-efficacy and intrinsic motivation. Furthermore, the independent T-test revealed that female students had a relatively greater influence than males on performance accomplishment, vicarious experience as well as physiological & emotional state. In the practical implication, previous research has examined the different disciplines of students' self-efficacy in different countries. This study particularly in the Sri Lankan context, and the contribution of undergraduate management students is novel.

The present study aimed to provide a model of E-Human Resources Management in the context of E-Government requirements while analyzing the state of E- Urban services. This research، which was conducted in a mixed method، while defining the problematic situation that included the identification and application of role-playing requirements in the field of e-human resources management, e-government, e- urban services،e- municipality، requirements، meta-synthesis of modern scientific research was conducted based on the Sandelowski and Barroso method during 2023 to 2024 in the qualitative part of the research. The conceptual model was designed based on the thematic analysis. In the quantitative part of the research، human resources specialists as a statistical population were surveyed. For this purpose، a researcher-made questionnaire was used. Based on the Kaiser-Meyer-Olkin Measure of Sampling Adequacy at a significance level of zero and degree of freedom of one، the correlations among the data were obtained for factor analysis at the %99 confidence level. As a result, the research hypotheses were confirmed. Based on the results of Friedman's test, the most influential was related to electronic participation. Then، the practical suggestions of the research were presented. This study also concentrates on the good practices to overcome the challenges. Furthermore، this study can be used in future research for solving real-time challenges of e-government.

This paper intends to conduct a comprehensive and systematic analysis of publications in the field of integrated reporting (IR) and provide a general overview of current IR publication trends using data obtained from Science Direct and Emerald Publishing Limited. Bibliographic information has been analyzed using Vos viewer software which is useful for evaluating publication patterns, word development, keyword frequency, and citation analysis, as well as identifying the most productive authors and impacts. This research reveals that the sustainable development goals (SDGs) framework provides a progressive and inclusive method for integrating social and environmental elements with economic aspects in the international business sector. This research has limitations regarding data testing which only uses VosViewer and Ms. Excel. Future research is recommended to add other analyses such as Nvivo or bibliometric sciencePractical This research offers several suggestions for providing markets with complete, consistent, and comparable information about how they contribute to the SDGs, thereby facilitating collective learning that can help in realizing sustainable tourism transformation. This paper makes an important contribution to the debate about whether SDGS implementation at the company level is carried out strategically or merely symbolically. Furthermore, this article provides deeper insight into how companies can improve reporting and management systems that support the SDGs.

The present research was conducted under the title of identifying and prioritizing the factors on the success of the foundation company by companies in the Yas International Innovation Center of Ahlul Bayt International University. The purpose of this research is to develop an application. Therefore, it has been done to prioritize factors in the success of companies. The research method has been with several samples, and the current research tool is a questionnaire, an inter-economic questionnaire of expert science specialists and managers of companies based in the International Innovation Center. Its analysis method uses a hierarchical model and expert selection tool. First, the main factors have been identified and ranked, in which organizational factors with a coefficient of (0.549) are in the first place, environmental factors with a coefficient of (0.276) in the second place, individual factors with a coefficient of (0.175) are in the third place, still among the sub-indexes of financial resources with a coefficient of (0.140) ranks first and human resources with a coefficient (0.097) ranks second and social factors sub-index ranks last with the lowest coefficient (0.010). Among the main factors, organizational factors have the most influence, environmental factors have an average level, and personal factors have the least impact on the success rate of knowledge-based companies located in Yas International Innovation Center. Therefore, it is suggested that these companies prioritize organizational factors and focus more on their financial and human resources to achieve more success.

Some village government assets still need to contribute to community services or support the government's operations. Regulations provide space for village governments to establish cooperative partnerships, but this step has yet to be widely realised. Utilisation cooperation is an alternative to optimising the function of assets that have been underperforming. This research aims to develop a framework for asset utilisation cooperation by considering social, environmental and economic aspects to ensure sustainability. This research uses an exploratory qualitative methodology with a case study approach to one of the village governments in Indonesia. Data were collected through field observations, in-depth interviews, and documentation, and the whole process involved the researcher directly at the research location. This research produced a framework for asset utilisation cooperation that is oriented towards improving economic performance while maintaining social justice and environmental conservation around the village area. Academically, in the Indonesian context, this issue has yet to attract much attention. Hence, it needs to be deepened through research in order to provide academic and practical implications for asset governance in the village government sector.

This study examined how Lithuania’s CO2 emissions were affected by macroeconomic variables and mortality rates between 1995 and 2020. ARDL analysis, cointegration regression, diagnostics test, and robustness test were used to quantify the impact of mortality rates, macroeconomic variables, and CO2 emissions. The findings of the unit root test confirmed that all variables are stationary. Similarly, the ARDL bound test values show that the variables are cointegrated and that a long-run relationship exists between them. However, the ARDL methods both showed that mortality rates, trade openness, and economic growth have a significant positive impact on CO2 emissions. Hence, renewable energy consumption helps reduce CO2 emissions. Furthermore, diagnostic tests confirmed no serial correlation, no heteroscedasticity exists, and robust tests also show that the model is stable. While cointegration regression results are similar to the ARDL model test. The study analysis suggests the essential policy recommendations aimed at reducing CO2 emissions and the need to improve health sectors (specifically, mortality rates under 5). This study expands the existing literature on environmental economics, and its findings will help improve policy and frameworks in Lithuania to reduce carbon emissions.

This literature explains the influence of credit card, debit card, and e-money transaction values on Indonesia’s M1 and M2 money supplies. Time series data from January 2010 to August 2023 are used taken from the official websites of Bank Indonesia and the Central Statistics Agency . The Vector Error Correction Model (VECM) is the analysis method employed. According to the study’s findings, the M1 and M2 money supply is significantly impacted by the value of debit card transactions in both the short and long term. While it has a large short-term impact on M1 and M2, the credit card transaction value variable has a negligible long-term impact on M2. In addition, the value of e-money transactions demonstrates that they have a large impact on M1 both in the short and long terms. On the other hand, it has a significant impact on M2 in the short term but not on M2 in the long run.

The issue of ending child marriage attracts global attention, especially in developing countries. However, the link between married children and economic growth remains in question. The purpose of this article is to utilize regional macroeconomic indicators to quantify the association between child marriages and the Indonesian economy. The analysis shows a negative relationship between marriage at a young age and the economy using panel regression and simultaneous equations model. The results also demonstrate that marriage at an early age might decrease economic growth, as it has an undesirable effect on health and education. Therefore, this paper delivers a suggestion related to the policy strategies, primarily educational policies and health, that support the Indonesian Government in ending child marriage.

Fintech Peer-to-peer (P2P) lending sharia is an evolution of sharia financial institutions through the use of technology in its operational processes. The millennial generation who grew up with technology has a greater talent in utilizing technology and has deeper insights compared to the previous generation. The purpose of this study is to analyze the determinants that influence Muslim millennials to invest in the Islamic P2P lending sector and determine strategies to improve its effectiveness. Latent variables Attitude Towards Behavior (AT), Subjective Norm (SN), Perceived Behavioral Control (PBC), Financial Literacy (FL), and Behavioral Intention (BI) are selected and analyzed using Structural Equation Modeling (SEM) using SmartPLS. This study used an accidental sampling method which was carried out for 30 days of data collection, where 200 respondents were collected. The respondents were specifically the millennial Muslim generation who had invested in financial institutions at least once. The results showed that all latent variables had a significant influence and PBC had the largest contribution. There are three latent variables that have a significant positive effect on BI, namely AT, PBC, and FL. Meanwhile, only SN has a significant negative effect on BI. Therefore, it is necessary to increase literacy in the Indonesian community. Regulators and implementers must collaborate and synergize in improving Islamic financial literacy in Indonesia. For further research development, other variables or samples from different groups can be used to further enrich literacy in Islamic P2P lending.

The annual fiscal budget of any economy gives projections about key economic indicators. Forecasts of these key variables are often at variance with actual realisations at the end of the fiscal year, thereby inducing animal spirits in Sub-Saharan Africa. Past studies focused on the roles of budget institutions and considered only two indicators of budget institutions- centralization and rules and control, thereby ignoring other indicators- transparency, comprehensiveness, and credibility and sustainability indices. This study therefore investigated the roles of budget institutions on macro-fiscal forecast errors, using all existing indicators of budget institutions in SSA. This study was based on rational expectations theory. Empirical models were formulated for growth, inflation, and fiscal balance forecast errors. A panel of data that spanned 2006 to 2021 for 43 countries was gathered. Forecast values were estimated from country’s annual budget speeches, World Development Indicators and Fiscal Space Database. Indices of various indicators of budget institutions were constructed using information from the Collaborative African Budget Reforms Initiative (CABRI), Open Budget Index of the International Business Partnership (IBP) and Public Expenditure and Financial Analysis (PEFA). The models were estimated using GMM System) estimation technique. Estimated results show that only budget procedural rules and credibility and sustainability indices have significant and negative effect on fiscal balance forecast error. No evidence was found that growth and inflation forecast errors were influenced by budget institutions. The implication of this finding is that fiscal budgets based on established procedures and with some level of credibility and sustainability matter for reducing fiscal balance forecast error.

This study aims to empirically test the effect of interest rates and inflation on economic growth, with gross capital formation as a control variable. This research uses panel data from 5 ASEAN countries, namely Indonesia, Malaysia, the Philippines, Singapore, and Thailand in 2004 – 2021 and was tested using the Random Effect Model (REM) analysis technique. The results of this study explain that interest rates and inflation have a simultaneous effect on economic growth. Another finding from this study is that interest rates have a significantly negative effect on economic growth and inflation has a significant positive effect on economic growth. However, this study is subject to several limitations. First, it solely focuses on ASEAN-5 countries, thus limiting the generalizability of the findings to other developed and developing nations. Second, the study’s reliance on annual data from 2004 to 2021 excludes more recent data, potentially overlooking current economic trends. Third, the static panel method utilized with the REM analysis only provides a broad overview of the relationships between interest rates, inflation, and economic growth, lacking deeper insights into long-term and short-term dynamics. Fourth, while the study covers the period including the COVID-19 pandemic, it fails to thoroughly explore its impact and provide detailed explanations. Thus, future research should consider expanding the scope beyond ASEAN-5, incorporating more recent data, employing dynamic panel methods, and thoroughly investigating the implications of significant events such as the COVID-19 pandemic on the examined relationships.

The purpose of this study was to present a systematic literature review on the public debt-economic growth nexus. The objective was to provide policymakers and researchers with significant insights on the impact of public debt on economic growth and to provide reliable evidence on the gaps in the literature that require their urgent attention. The study used a systematic review of the literature contained in two databases, namely Semantic Scholar and Google Scholar. The study shows that public debt above the threshold is detrimental to economic growth, while low public debt is conducive to growth, and that the degree of non-linearity in the debt-growth relationship varies considerably depending on the economic status and debt burden of the country. Policymakers in each country should identify the tipping point at which further public debt begins to impede growth. Debt policy should take into account not only fiscal constraints, but also the effectiveness of governance and the possible consequences of eroding public confidence. The study also shows that institutional quality, public investment, production expenditure, foreign direct investment and exports are among the variables that significantly affect the relationship between public debt and economic growth. Policymakers should control the level of public debt and its drivers to support longer-term economic growth. The study also recommends that countries account for public debt and ensure that such debt is acquired only to finance profitable investments that generate future returns, and not for consumption, deficit reduction, wasteful spending, or political purposes.

This paper examines the impact of trade integration on poverty reduction in the Economic Community of West African States (ECOWAS). To investigate the impact of trade integration on poverty reduction, data for all fifteen member countries of ECOWAS on the number of poor people, bilateral trade, trade openness, exchange rate, foreign direct investment, interest rate, inflation rate, and import tariff were collected from the World Bank, WTO, IMF and WDIs from 2010 to 2019. After various tests, heteroscedasticity was found to be present. Therefore, to address this problem, the Feasible Generalized Least Squares (FGLS) method was used to examine the aforementioned impacts. The results showed that trade openness, bilateral trade, exchange rate, and import duties significantly impact poverty. The results indicated that trade integration is significant in reducing poverty within ECOWAS. The study recommends measures to enhance the effectiveness of trade integration as it has an important impact on reducing poverty in the region. First, ECOWAS should implement policies to support smaller countries in improving their productive capacities to compete effectively within the region. Secondly, harmonization of exchange rates by creating a common currency would facilitate smoother trade flows and contribute to poverty reduction. Member countries should prioritize trade with other ECOWAS nations, implement policies to ensure that foreign investments benefit the local economies, and focus on exporting finished goods rather than raw materials to create employment opportunities and support poverty reduction efforts.

This study aims to identify the factors influencing Indonesia’s dependence on external debt. The data utilized in this research consist of a time series covering the period from 1999 to 2023 on a quarterly basis. The endogenous variable in this study is Indonesia’s external debt, while the exogenous variables encompass fiscal deficit, tax income, inflation rates, and the volatility index. The instrumental variables employed include lags of both endogenous and exogenous variables. Additionally, dummy variables are incorporated for the four government regimes. Two estimation models consistently present a coherent picture. The dynamic fixed-effect model utilized in this research indicates that dependence on external debt is a legacy of previous governments in both models. Historical factors from prior external debt play a pivotal role in determining Indonesia’s external debt level, and the impact of current and past tax revenue periods contributes positively to Indonesia’s ability to increase debt, even though only current tax revenue has a significant impact. Theoretically, fiscal deficits and global economic instability are considered important indicators, but this study found that neither has a consistent and significant influence on Indonesia’s external debt. Controlling inflation rates is also crucial in curbing borrowing behavior from foreign entities. Government regime transitions do not appear to contribute significantly to the management of external debt. Based on the R-squared adjustment test and the Wald test, it is revealed that the exogenous variables, instrumental variables, and dummy variables in this study effectively explain the variation of the endogenous variable.

This paper aims to explore the relationship between food exports and economic growth in Italy. To achieve this objective, we utilize annual data spanning from 1990 to 2021, employing cointegration analysis and the ARDL Model. The empirical findings reveal a positive impact of food exports on long-term economic growth. However, despite this positive correlation, our examination of stylized facts uncovers a downward trend in the share of food exports over the analysis period. While acknowledging the role of food exports as a contributor to economic growth, this underscores the need for the Italian authorities to acknowledge the sector’s significance and implement new economic policies and trade reforms to fortify this area of economic activity.

Any socio-economic processes occurring in the country and world have an impact on the standard of living of the population. There are many indicators that determine the standard of living of citizens, among which we can highlight the income of people as the main component of their financial well-being. In a period of global political and economic upheavals, the relevance of the topic of human quality of life is beyond doubt. During the economic war organised by the West against Russia, the countries participating in this war are of interest. These include New Zealand, although it is clear that due to the distance from Russia and weak economic ties between the countries, there will be no significant mutual influence of the sanctions restrictions. The study has analysed the income of the population of New Zealand over the past 10 to 15 years, considering differentiation by various categories, such as geographical location, qualification, and source of income. The analysis has showed a certain increase in the income and, accordingly, in the standard of living of the country’s population in the period under review. An insignificant impact on this indicator of restrictive measures during the COVID-19 pandemic is revealed, however, with the certain social policy of the state, fluctuations in the income of citizens during this period were hardly noticeable. Their assessment by sources has reflected the significant share of small businesses in the country’s economy, which shows a high degree of liberalisation of the national economy of the state. The analysis of the citizens’ incomes by geographic regions has revealed a significant impact of urbanisation on the standard of living of the New Zealand’s population, which is a global trend.

For decades, international trade has contributed to the reduction of global poverty and the income gap between countries, and the development of intercountry exchange of agricultural products has largely ensured the solution of problems of poverty and food security. At the same time, at the present stage, a high degree of dependence of many developing countries on food imports has occured, while its global exporters have faced a number of restrictions on the supply of their agricultural products. This article analyses the impact of geoeconomic fragmentation of the international trade on the development of exports and imports of products of the agro-industrial complex (hereinafter referred to as AIC). In particular, the problems of competition in the world agro-food markets are discussed in a new context, since the growing problems of monopolisation in certain segments of the AIC disrupt the stability of agricultural markets. Exclusive attention is paid to the key aspects of the application of non-tariff measures in regulating trade of the agricultural products, which, in addition to the protective role, can have a distorting effect on world prices. Our analysis places particular emphasis on the hidden costs of global agri-food systems, which necessitate their rapid modernisation to ensure sustainability in the development of the agricultural markets and to address global food security issues.

The article provides a scientific justification for the relevance of studying emotional distress of adolescents from dysfunctional families. The social significance of the topic is noted: the emotional distress of adolescent children not only makes unhappy themselves, but also reduces the level of social health of the family and the whole society, affecting social security. The purpose of the research is a theoretical analysis of sources of scientific information which, presumably, can form a methodological basis for studying family predictors of the adolescent emotional distress. The material in the article is presented in accordance with four research questions concerning the formulation of this scientific problem, its current state in domestic and foreign social psychology, and its poorly studied aspects. The definition of the concept of the emotional distress is clarified, its similarity to the concept of emotional modality is shown; the already established features of the emotional sphere of adolescent children are noted. It is concluded that by now there are prerequisites for studying families with adolescents simultaneously from the standpoint of socio-psychological and systemic approaches. A model of empirical research of the family predictors of the emotional distress of adolescents from dysfunctional families is proposed. The prospects of practical application of the study results are outlined.

The article is devoted to studying the influence of industry specialisation of the Kemerovo region – Kuzbass on the economic growth of the entity. The purpose of the study is to identify the most significant trends and problems of the industry specialisation that affect the development of the region. Using methods of scientific knowledge – description, synthesis and generalisation of the data obtained; literature review, graphical method – the following has been conducted: analysis of the dynamics of structural changes in the gross regional product (hereinafter referred to as GRP) of the Kemerovo region – Kuzbass; assessment of trends in the movement of main industry indicators and indicators of regional industry. The information base of the study consists of foreign and domestic publications devoted to the analysis of the GRP sectoral structure; statistical data from the Federal State Statistics Service and its territorial authority for the Kemerovo Region – Kuzbass. Based on the analysis of the structural changes dynamics, an increase in the contribution of the raw materials sector to the country’s gross domestic product and an increase in the share of mineral extraction in the industry structure of the GRP of the Kemerovo region – Kuzbass have been revealed. The trend of decrease in the industrial production index is analysed, it is shown that it has a trend similar to the dynamics of the decline in mining production, and the reasons for the decline are described. The strengthening trend of economic growth in the Kemerovo region – Kuzbass based on the raw model has been determined. East Asian models of economic growth are considered. The expediency of using international experience in the design of high-tech industries on the basis of private investment in the research and development sector, and its adaptation to the realities of the development of Russian regions is indicated. A conclusion is drawn about the need to support the technological sovereignty of the country and the transition of the development of the Kemerovo region – Kuzbass to a non-primary model.

In the context of accelerated transformation of the domestic economy, attempts at economic and socio-political isolation of the Russian Federation (hereinafter referred to as RF, Russia), the question of rethinking the role of social protection in the development of the RF arises. The purpose of the work is to develop recommendations for increasing the adaptability of the domestic social protection system to future possible shocks, with consideration to modern practices used in developed economies. The object of the study is social protection systems. The subject is measures of adaption of these systems to consequences of financial crises. When conducting the study, the following methods have been used: analysis, induction, measurement, comparison, computational and constructive, statistical and economic. The main results of the study include identification of the basic channels for the transition of a financial crisis into a social one, and assessment of the fiscal impulses of the European Union countries, United States of America, and Russia in order to mitigate the negative shocks of financial crises. The practical significance of the work is due to the possibility of using the results in the activities of government bodies as part of improving the domestic social protection system. The similar nature of consequences of global financial crises has allowed us to draw a number of conclusions. Firstly, job retention schemes and social support measures for the unemployed population make it possible to create an effective system of income support for workers, especially for vulnerable groups. Secondly, increasing the targeting of social support measures will lead to the performance growth of social protection system, allowing for a more rational distribution of limited budget resources. Finally, this social system can effectively reach the target segment of beneficiaries only if means-testing information systems are of high quality.

The article presents the results of studying the possibilities of an ecosystem approach to career planning by students at the State University of Management (hereinafter referred to as SUM). At first, the gap between the level of practical training of graduates of Russian universities and the requirements of employers has been actualised. Then, the need for joint efforts of all interested labour market participants to create conditions for students’ conscious planning of career growth at all stages of education is emphasised. The experience of intra-university cooperation using the STC (student team consulting) method between the marketing department and practical training department in 2022–2023 has showed that solving this problem involves integrating, on an ecosystem basis, activities for the study of professional academic disciplines, project-based learning, practical training, and employment. As an experiment, 6 student consulting teams have solved a set of interrelated tasks, including the creation and ongoing maintenance of the Career Centre page in the VK social network, advertising campaigns and interviews at “Career Day in Transport and Logistics”, surveys on the employment of graduates and assessment of student satisfaction with practical training, analytical review of the labour market in Russia in 2020–2023 with a report at the All-Russian scientific and practical conference, examination of 5 ideas for marketing research projects in the field of career planning by students of the SUM with testing in social networks and assessments of the influence of actors in its ecosystem. In conclusion, based on the results of the research, the directions for the ecosystem approach to career planning by students at the SUM are formulated.

Event tourism is a dynamically developing sector of the global tourism industry, the share of which increases by 1.5% annually. This segment plays a key role in stimulating the local economy, attracting investment and developing cultural exchange. In Azerbaijan, which has a rich historical and cultural heritage, event tourism has significant potential. However, its development in the regions faces a number of problems that need to be addressed for more efficient use of existing opportunities. This article discusses the current state of event tourism in Azerbaijan, studies certain events held in the republic, substantiates its importance for the socio-economic development of the country’s regions and proposes mechanisms for its improvement based on international experience. The purpose of this article is to analyse the current state of event tourism in Azerbaijan, assess its potential for the socio-economic development of regions and develop recommendations for its improvement, considering existing problems and prospects. The object of the study is to identify problems and explore opportunities related to the development of event tourism in Azerbaijan. The subject of the research is the mechanisms for improving event tourism in the regions of Azerbaijan, including the analysis of current problems, assessment of potential and development of recommendations for improving the accompanying infrastructure, financing, marketing and other key aspects in the context of studying and applying foreign experience. The work uses an analytical research method based on a review of scientific papers in the field of event tourism.

The article discusses the features of currency regulation and foreign economic relations of the Russian Federation (hereinafter referred to as RF, Russia) in the context of the introduction and growth of anti-Russian sanctions by the United States of America, European Union countries and other unfriendly countries, issues related to ensuring the sustainability of the Russian economy and its ability to withstand negative internal and external influences, issues of financial security, which is an important component of the country’s economic security, issues of the current state of the state’s banking system and the Russian economy as a whole. The article also discusses the possible expansion of international economic relations between Russia, China, North Korea and other countries. The purpose of the article is to identify directions for the transformation of the currency regulation regime and foreign economic relations of the RF in the context of the expansion of anti-Russian sanctions. The subject of the study is the currency and foreign economic relations of the RF with friendly and unfriendly countries in the current conditions of growing anti-Russian sanctions and the conduct of a special military operation in Ukraine. In conclusion, the article highlights key changes associated with changes in Russia’s foreign exchange and foreign economic activeities, promising opportunities for further expansion of international economic relations with China, the Democratic People’s Republic of Korea and other friendly countries.

The article presents the results of using the Russian-language version of the “Big Five” personality questionnaire, in which personality is considered as a structure consisting of 5 factors, including many secondary factors. The subject of the study are psychological characteristics of the personality of dog handlers of law enforcement agencies of the Russian Federation (hereinafter referred to as RF) at various stages of professionalisation. The author emphasises the relevance of studying and further psychological support of the professional development of dog handlers, with consideration to the fact that specifics of their service and professional activities in order to ensure the security of the country have no analogues and are unique. The results of a focused interview with experienced dog handlers with extensive experience in service cynology have formed the basis for constructing a psychograph for a specialist in the profile in question. Using the “Big Five” methodology, it is possible to identify the characteristic features of cadets studying in the field of training “Animal Science”, profile “Cynology”, and employees of canine services of the law enforcement agencies of the RF. The author correlates the results obtained and notes the correspondence of the psychological qualities of both groups of respondents to the professionally oriented qualities presented in the psychograph of a specialist dog handler of the law enforcement agencies of the RF. The five-factor questionnaire adapted by A.B. Khromov adequately describes the psychological characteristics of an individual and can be used in the study of various aspects of its professional development.

The relevance of the article is due to the insignificant contribution of microfinance to the development of the Russian economic system, especially in the context of supporting small and medium-sized businesses. However, the regulator sees it as a promising sector of the financial market and considers its progressive development necessary. The purpose of the work is to study the current state and identify trends in the development of the microfinance market in Russia. The methodological basis of the study includes empirical observation and analysis. During the work, official statistical data and scientific publications on the topic of microfinance have been used. The article provides a review of current legislative documents regulating the microfinance sector, and analyses the state of the market based on statistical data. It is substantiated that some elements of the monetary and financial policies pursued in the Russian Federation can be applied for the successful development of the microfinance sector, contribute to its effective and balanced work, and improve accessibility and sustainability. In the course of the work, key directions for the development of the microfinance market are formed: improving regulation and supervision; promoting financial literacy of the population; application of digital technologies; expansion and diversification of the product portfolio, development of partnerships, social entrepreneurship, which contribute to the sustainable development of this segment of the financial market. Particular attention is paid to a detailed analysis of improving the regulatory framework for microfinance in Russia from the point of view of legislation on bankruptcy of individuals, stimulating innovation and digitalisation, and supporting social entrepreneurship.

The paper considers the formation of a seamless multimodal passenger transportation in order to develop transport infrastructure not only at the regional but also at the federal level. The positive aspects and disadvantages of a multimodal transport system are considered. The paper presents a review of the scientific literature on the above issues. The research methodology is based on proven approaches. Founded on the analysis of the tourist flow, it is proposed to build a system of seamless multimodal transportation in the territory of the Russian Federation (hereinafter referred to as RF). The relevance is due to the need to develop regional transport systems as well as consideration of this topic in the scientific literature, regulatory documents of the industry. Based on the Strategic direction in the field of digital transformation of the transport industry of the RF until 2030, the principles of multimodality are proposed to create a seamless system of multimodal passenger transportation. The development has been conducted for the transport system of the Altai Territory. Based on the data on tourist flows of the Federal State Statistics Service, the calculated route Moscow – Barnaul – Gorno-Altaysk is formed. The introduction of a digital platform for convenient search and booking of transportation is considered, the key points of working with requests are highlighted. The movement of financial and information flows and the algorithm of actions of the system participants are determined.

Employment of higher education graduates is a challenge for governments in both developed and developing countries. This article highlights factors that explain the professional integration of graduates leaving universities. This study demonstrates the variables influencing the employment of young tertiary graduates. The model used allows us to establish economic relationships between exogenous and endogenous variables. The variables are qualitative and dichotomous in nature with multiple modalities. The presented results allow us to determine which exogenous variable has a greater impact on the endogenous variable so that governments can consider it in youth employment policies. We also advise young graduates in terms of finding a job. The purpose of this study is to promote the professional integration of Guinean higher education graduates. The main objective is to identify the problems faced in the labour market by Guinean higher education graduates. Using SPSS software, we have obtained the following results: the higher the level of education, the greater the chances of finding a job; personal initiative gives a better chance of finding a job than any other method of finding a job; men have an advantage over women in terms of employment opportunities; married people are luckier than single people; those who have had a previous job are also more likely to find a job than those who have not had; graduates who have lived abroad are more likely to find a job than those who have not lived abroad.

Modern air cargo transport is an important part of global logistics and trade. They provide fast and efficient delivery of goods all over the world. In recent years, there have been several significant changes in the development of air routes both in the Eurasian Economic Union (hereinafter referred to as EAEU), and in Russia, in particular. Additionally, in light of recent global events such as the COVID-19 pandemic, air cargo has faced additional challenges related to restrictions on passenger flights, changes in airport operating hours and increased health regulations, while the geopolitical situation has had a significant impact on transport and development of transport infrastructure throughout the EAEU. All these challenges make this study relevant. In addition, the article examines the rules of law that regulate issues of economic and customs space, as well as solve the problems of applying bans on customs duties and other restrictions on the free movement of goods, services and financial resources. Ways have been proposed to overcome restrictions on air transportation within the framework of the EAEU.

In the era of globalisation, diaspora is seen as a driving force for economic development in the countries of origin and for positive changes in the host countries. The Algerian diaspora represents a real opportunity and potential of entrepreneurs that are not exploited. This article attempts to explore the factors that encourage or hinder the entrepreneurial activities of the Algerian diaspora in its country of origin through a field survey based on 142 entrepreneurs from the studied diaspora. To do this, a logistic econometric modelling has been implemented to explain the entrepreneurial event (business creation), and the explanatory variables are the following factors: psychological (experience, training), contextual (discrimination, opportunities, and patriotism) sociological (help of relatives and other contacts) and economic (personal resources and those of the state). It appears that the probability of the project in Algeria is stronger as its leader from the Algerian diaspora has a great entrepreneurial potential and financial means, is an opportunist and patriot, benefits from the help of the state and knows how to activate, in case of difficulties, their personal contacts.

The subject of the study is financial relations of municipalities in terms of income generation. The purpose of the article is to disclose and justify measures to increase fairness of the distribution of personal income tax by fixing the share of such a tax for the municipality in which the citizen lives but does not work. The research methods are general scientific (analysis, synthesis, deduction, classification, work with sources) and empirical ones (horizontal analysis). The article considers the problem of imbalance of local budgets caused by pendulum migration and, consequently, by outflow of income from municipalities. An information and software solution has been proposed to ensure the fair distribution of part of the personal income tax between municipalities by the place of residence and work of taxpayers. The logical model of the proposed solution and necessary changes in legislation for its implementation are described. The scope of application is the budget system of the Russian Federation, namely the spheres of municipal finance. Further research should be aimed at identifying additional reserves for strengthening the financial autonomy of municipalities. The expected results of the work include improving the financial situation of the population, optimising the budget system and leveling the level of development of municipalities. The importance of the proposed solution for balanced regional development and improving the quality of life of citizens is emphasised.

The article examines the main problems faced by older people and suggests innovative practices and technologies of social care at home in order to preserve their social capital. Due to age and health conditions, many older people are limited in their ability to leave home and perform daily tasks and functions. Senile problems represent negative changes that affect people’s lives and are associated with poor health. The key problems of the elderly have been identified. The article notes that senior citizens need timely and long-term care to preserve their social capital, which is best provided at home and with the support of their loved ones. To implement such care, it is necessary to create long-term care centres for the elderly and the disabled. The authors of the article propose to develop services for the elderly at home, introduce innovative technologies and improve the quality of services provided. Social services play a special role in this, which is confirmed by the experience of public service centers. The introduction of innovative service practices and technologies, and the expansion of the number of social services are promising areas for preserving the social capital of the elderly.

The article examines financial management of environmental enterprises from the standpoint of evaluating the results of financial analysis and specifics of its implementation. Increasing the competitiveness of environmental organisations in the Russian Federation and ensuring their prospects in the face of sanctions and restrictions at this stage of development is becoming increasingly relevant. The authors propose a methodology for financial analysis of industrial and environmental activities of an enterprise based on the calculation of key financial and private environmental indicators of environmental enterprises. The novelty of this study lies in an integrated approach to financial management based on the results of the analysis of financial and private environmental indicators of environmental organisations, covering the financial and environmental aspects of their activities. The integrated approach to financial management is innovative because it is founded on the close relationship between financial and environmental activities of enterprises. The presented article develops analytical support and methodological tools of the analysis for use by environmental enterprises, with consideration to their specifics, in order to improve the efficiency of financial management. The practical significance of this article lies in the analytical provision of effective financial management for the sustainable development of environmental enterprises.

The purpose of the study is to analyse the modern mechanism of identification and risk control in the payment system both in the Russian Federation (hereinafter referred to as RF, Russia) and abroad. The objectives of the study are to analyse a standardised approach to identification and risk control in the payment system of Russia and foreign countries, as well as a review of the estimated indicators of the identification and control system in the payment system of the RF. To achieve this goal, general scientific methods (analysis, synthesis, generalisation, etc.) and a number of private scientific methods (systemic, comparative legal, statistical, etc.) are used in this work, necessary for a deeper consideration of individual issues on the research topic. The paper analysed a standardised approach to identification and risk control in the payment system of Russia, the United Kingdom and the United States of America. The review of the estimated indicators of the identification and control system in the Russian payment system is conducted. The theoretical significance of the research lies in expanding knowledge and understanding of modern mechanisms for identification and risk control in the Russian payment system, as well as international experience in identifying and controlling risks in the payment system. The practical significance of the study is to identify the features of a standardised approach to identification and risk control in the payment system in Russia and foreign countries, as well as to identify the estimated indicators of the identification and control system in the Russian payment system.

The relevance of the research is related to the need to substantiate the specifics of reproduction of the educational potential of workforce as a key resource that ensures generation of new knowledge, its successful implementation into practice, and innovative development of domestic enterprises. The purpose of the article is to identify and analyse modern conditions for the reproduction of the educational potential of the workforce. The research methodology is based on the use of an integrated and systematic approach to determining them, comparative and statistical methods of analysis. As conditions for the formation of the educational potential in the post-industrial era, the article considers: demographic conditions, globalisation, formation of a unified information space, and digitalisation of the economy, increasing demand for skilled labour, accelerated development of the service sector, and increase in labour migration. The results of the analysis show that in Russia, the reproduction of the educational potential is hampered as a result of the demographic crisis manifested in the continuation of the trend towards natural population decline and an increase in the number of people of retirement age; increase in the scale of external migration of skilled labour; average level of Internet accessibility to the population, and, as a result, insufficient formation of its digital skills. Attention is focused on the growing need of the national economy for personnel with a high educational and qualification level, digital skills, and information culture due to the formation of a unified information space and digitalisation of the economy, accelerated development of the service sector, globalisation, and the increasing role of universities in shaping the general culture of the population. The prospects for further research are to develop an organisational and economic mechanism for reproducing the educational potential of the workforce.

The article considers innovations that are the flagship of the development of investment potential of Russian regions and regional economic systems as the main element of investment attractiveness of the regions. The conducted research examines the basic tools and methods for the formation of an effective assessment system for innovative regional development as the level of the investment attractiveness of Russian subjects and Russian regional systems within the framework of Russian and foreign practice and experience. Definition and evaluation of such an indicator as the level of development of the digital environment of business communications, stimulating the effectiveness of innovative activities of business entities, have been identified as the main approaches (or methods) in studying this problem. The conducted research has a significant impact on the further study of directions for the development of a mechanism for effective assessment of the innovative potential and innovative development of the region, which serves as the basis for increasing the investment attractiveness of the Russian regions. The application and use of various assessments, diagnostics and their implementation in considering the innovative potential and innovative development of the region are to analyse the prospects for its formation. The obtained results of the research can be used in assessing these two phenomena to increase the investment attractiveness of the Russian regions.

The article deals with problems of project management in the context of a shortage of human resources at enterprises in the real sector of the economy as well as with promising areas of development to improve the efficiency of project management. The necessity of conducting work on preliminary analysis and selection of candidates is noted, with consideration to individual characteristics and expected goals. Within the framework of the tasks set for the study, the authors have shown the possibility of a three-factor evaluation of candidates to achieve results sufficient from the practical point of view in terms of choosing the most promising candidate from the available staff, and the possibility of obtaining a reasoned decision on the need to involve an external manager for the project implementation in the absence of the required competencies in the company’s staff of the. A brief overview of the methodological framework of management is given, which allows solving the problem of a reasonable approach to the recruitment for appointment to situational positions. It is shown that based on the developed approach, reasonable and strategically correct management decisions can be made. It can be used at enterprises in the real sector of the economy when making decisions on the appointment of project managers to improve the efficiency of work to achieve the goals stated in the project as well as for educational purposes to form decision-making skills and evaluate candidates for leadership positions.

Personal income tax (hereinafter referred to as PIT), in interaction with other instruments, can have a significant impact on the implementation of social goals aimed at improving the quality of life of Russians, reducing poverty, overcoming monetary inequality, and supporting low-income citizens, including families with children. The article is aimed at studying the theoretical and practical aspects of taxation of personal income regulated by Chapter 23 of the Russian Tax Code. It reveals the significant role of the PIT due to its revenue potential for the budget system of the Russian Federation and its regulatory impact on socio-economic processes in conditions of geopolitical tension, describes the current system of tax deductions, the need and directions for its improvement. The methodological basis of the study is founded on the analysis of scientific publications and open data of public authorities posted on their official websites. The analysis has been conducted using comparison methods, systemic logical and semantic analysis, synthesis of theoretical and practical material. The purpose of the study is to propose a gradual improvement of the mechanisms for providing standard and social tax deductions by increasing their sizes, introducing a subsistence minimum as a non-taxable income for all categories of payers, expanding the scope of application with consideration to the results of the ongoing socio-economic policy. The conclusions and generalisations of the study can be used when legislative and executive authorities and the scientific community develop proposals for improving the provisions of Chapter 23 of the Russian Tax Code, which will create a socially oriented domestic tax system.

The purposes of the article are to study the content of labour productivity, generalise its main indicators, essence of constant trends manifested in the form of an economic law, disclose its forms of manifestation and ways to increase as well as to attract the attention of subjects of these processes to take regulatory measures. The object of the study is labour in the main link of the economy. The subject are political and economic, social and labour relations between participants of the production process regarding the increase in the labour productivity. Its methodological framework covers provisions explaining the nature of the continuity of labour processes based on the labour productivity. Its main sources are considered using the methods of scientific abstraction, comparison, logical, historical, causal, dialectical methods. Among the scientific results is the conclusion about the essence of the economic law of increasing productivity of social labour, about some properties of the forms of its manifestation, number of directions for accelerating the increase and continuity of the labour process. The scientific and practical significance of the article lies in the possible usefulness for the main link of the economy which corrects its own strategies and development programmes of authorities at various levels during the implementation of economic policy as well as of higher educational institutions of the country where economic theory and labour economics are taught.

The issues of economic inequality and justice were considered in the works of the philosophers of Ancient Greece. Over time, the problem of income inequality has not lost its relevance, which is confirmed by domestic and foreign studies. Until 2015, the capital of the Russian Federation had the highest value of the Gini index, which indicates a high degree of inequality in income distribution in the territory of this subject. Over time, the situation has changed, in particular, by increasing the incomes of the least well-off groups of the population, providing them with subsidies and payments. The purpose of the study is to analyse to what extent these changes have an impact on the socio-economic development of the region. With the help of econometric calculations, the degree of dependence between the equity index and the value of the gross regional product per capita has been determined. It is revealed that there is an inverse relationship between the considered indicators, that is, a reduction in income inequality has an impact on the growth of regional production. The high value of the coefficient of determination indicates the high quality of the constructed model. The possibility of using the simulation results in practice is confirmed by calculations of the average approximation error and the Fisher criterion.

Features of the current stage of development of Russia increase the relevance of studying problems associated with the expansion of internal sources of financing economic growth, one of which may be citizens’ savings. To attract private capital more widely, the national financial system can and should provide a large range of tools for private investors that meet the needs of citizens in terms of profitability and safety of funds. The paper has considered the key tools of retail investment, which are currently widely used in domestic practice. Alternative ways of private investment have also been explored. They can be applied depending on the needs of specific actors, market participants, or citizens. The development of a line of instruments for the retail investment – deposits, long-term individual investment accounts, products of research and production associations, insurance products, etc., their availability is one of the conditions for the effective functioning of the domestic financial market and, as a consequence, the Russian economy as a whole. The analysis of the essence, trends, opportunities, and risks of the retail investment instruments will allow us to assess the effectiveness of the activities of financial regulators in this area and identify promising and appropriate areas for its improvement.