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Review of Business and Economics Studies

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Vol 11, No 2 (2023)
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6-14
Abstract

This research aims to identify possible global monetary system development scenarios in the context of the current United States dollar supremacy.

The primary method used is foresight analysis, which is based on a combination of deductive and historical data and trend analyses. The paper outlines the main drivers of potential change and uses them as inputs for scenario analysis. The three considered scenarios are a continuation of the absolute dollar dominance, reduction of the dollar’s power and split of the world economy between multiple currencies, and the emergence of a new single prevalent currency.

The main conclusion is that the second multipolar scenario resembles the current dynamics the most and is considered the baseline. However, the answer depends on the forecasting horizon as the scenarios have a certain sequencing. The dollar will probably maintain its supremacy in the short term. Its decline in the mid-term will give rise to a multipolar world, which can then, theoretically, lead to the emergence of a new dominant currency in the long term.

The results might be used as a framework for further structured analysis of possible outcomes in this domain.

15-26
Abstract

The workforce participation rate has been increasing across all nations contributing to the growth of the economy.

The aim of this research was to analyse the status of women’s employment in India. It also examines the extent to which organisations in India have adapted gender diversity and created a friendly work environment for both male and female employees.

The author employed a method of collecting secondary data with the help of available official statistics and research reviews to analyse the current trend of women’s employment in the Indian economy.

The analysis revealed certain surprising results. It was observed that the participation of women in the workforce was lower in urban areas than in rural areas. The critical review also revealed that there is still a need to promote diversity at the workplace in the Indian economy across the nation.

The key conclusion is that there is an ardent need for gender sensitisation among individuals at an earlier age to bring all genders at par in India. The research also proposes suggestions that can help in promote women’s workforce participation. This analysis can contribute to enhancing the economic growth rate of the country.

27-37
Abstract

Risk management plays a crucial role in ensuring the dynamic development and energy security of the national economy in the nuclear sector.

This study focuses on the application of the smart card method for evaluating risks in the energy sector, using the example of a carbon-free energy technology development project at Rosatom State Corporation.

The subject of the research is the Floating nuclear thermal power plant “Akademik Lomonosov”, which is designed to provide reliable electricity and heat supply to consumers in the Far North and Far East regions. This project is one of the key directions for developing the new business block in the State Corporation Rosatom.

The aim of this study is to evaluate the risk management of innovative projects in the green nuclear sector, with a focus on the Floating nuclear thermal power plant “Akademik Lomonosov”.

The authors used the methods of comparative analysis, system analysis, the analysis of statistical data, financial reports, and official documents.

The results show that risk management is crucial for ensuring the dynamic innovative development of nuclear energy in the near-, medium- and long-term, and the smart card can be a beneficial tool in this regard.

The key conclusion of the study is that the green project Floating nuclear thermal power plant “Akademik Lomonosov” has been successfully prepared for operation, considering most of the key risks. The risk evaluation conducted using the smart card method has demonstrated its effectiveness in identifying and managing risks associated with the project. The authors emphasize the importance of integrating smart cards into risk assessment practices in the nuclear industry and highlight their potential for use in future projects.

38-48
Abstract

The article is devoted to the study of attitude of representatives of State-owned Microfinance Organizations to their clients and to the regulators as well as the understanding of their own role in these relationships.

The aim of the study was to analyze the State-owned Microfinance Organizations leaders’ perception of the business environment.

The subject of the study includes a subjective assessment of the role of their organization in the financial system of the region, the attitude towards consumers of the services of their organizations (Entrepreneurs), the expected attitude of Entrepreneurs to the services provided by their organizations, and relations with regulatory authorities.

The relevance of the study is associated with the growing importance of State-owned Microfinance Organizations in the implementation of the tasks set by the government of the Russian Federation, so there is a need for an additional study of subjective assessment of their own position in the system of business relations.

The scientific novelty is that the business environment has been structured based on the main participants in the interaction.

The authors used methods of descriptive statistics, in particular, frequency analysis.

As a result, the perception by representatives of state microfinance organizations of their role as participants in the financial market was studied in three aspects of the scheme proposed by the authors: their importance for the economy of the region, the attitude of consumers to their services, and the peculiarities of interaction with regulators in their perception.

It is concluded that representatives of state microfinance organizations assess their field of activity as socially significant and prestigious, the regulator as trustworthy, but admit that some costs for mandatory requirements could be reduced.

49-58
Abstract

This systematic review aims to examine the causes and consequences of price hikes in Bangladesh, with a particular focus on their policy implications.

Methods: A comprehensive search of electronic databases was conducted, and inclusion and exclusion criteria were applied to identify relevant studies for analysis.

Results: The causes of price hikes in Bangladesh were found to encompass global oil prices, government policies, supply chain inefficiencies, and lack of competition. The consequences of price hikes included decreased purchasing power, reduced living standards, increased poverty, and adverse effects on investment and employment. Household welfare was negatively impacted, and businesses relying on imported raw materials or energy were affected.

The author concludes that to address the issues stemming from price hikes, policymakers should consider implementing strategies to control inflation, promote competition, enhance supply chain efficiency, and manage government spending. By incorporating these policy implications, Bangladesh can mitigate the adverse effects of price hikes, leading to enhanced economic stability and wellbeing.

59-66
Abstract

The aim of this paper is to sketch a description of the power structure in a hyper-modern setting. T

o make sense of contemporary social phenomena, entomological analogies and metaphors could constitute a conceptual and methodological toolkit worthy of replacing “social science” approaches of these days. To accomplish this, a vast, pioneering, and enthralling research labor of scrutiny awaits to be done. Meantime, it will be expedient to lay the groundwork by positing our shared living space as a semi-automated “nest” based on artificial intelligence called the “Techno-Structure”.

The results of using an ento-economic approach show that this Techno-Structure appears to be not the concretization of a collective nightmare spawned by the sick psyche of the West (as proclaimed by “postmodernists”), but rather some sort of singular, unannounced, and “revolutionary” reconfiguration of social symbiosis.

This economic reconfiguration has been loosely labelled “modernity,” and in several substantial aspects, it is indeed alien to what preceded it. What remains roughly unchanged, though —  and this is the key conclusion —  is the basic stratification of the collectivity into a massive, globalized underclass (increasingly cannibalized by the automation), topped by a thinned out, industrious middle-stratum thoroughly indentured to an ever more powerful and exclusivist leadership group, who holds the keys to the Structure’s computerized central.

67-72
Abstract

Utility theory is a pivotal concept in economics that provides insights into how an individual is motivated to act under budget constraints. The main assumption of this theory and the entire field of economics is that a rational human being and an individual derive utility from the consumption of goods and services under given budget constraints.

The aim of this article is to explore these fundamental assumptions and introduce a new theoretical framework for deriving utility, which is termed the “utility of sacrifices”.

Various methods were employed in the study, including a review of existing literature, an analysis of prevailing theories, and observations in real-world scenarios.

The results show that, through observations, a “rational” human being derives utility from both consumption and voluntary sacrifices.

Therefore, in conclusion, it is proposed that the total utility of an individual is the sum of these two components. This theoretical framework provides a more comprehensive understanding of human decision-making and behavior in economics. It also provides novel insights for future research and applications in economics. 



ISSN 2308-944X (Print)
ISSN 2311-0279 (Online)