The aim of the study is to develop and test approaches to constructing a composite index of the world economy’s technological core development, represented by the United States of America (USA), the European Union (EU), and China. The research applies general scientific, economic, and econometric methods. The methodological framework is based on principal component analysis, which enables the integration of key indicators of global hypercompetition and the strategic autonomy of national economies. The index incorporates parameters reflecting the state and dynamics of the economy, infrastructure, and technological development. The results assess the degree of self-sufficiency of technological cores in terms of access to critical resources and their dependence on certain goods and export markets. Empirical testing of the composite index demonstrates that in the 21st century, China has significantly narrowed the gap with the EU and the USA, most notably in advanced technologies and access to strategic resources. The EU and the USA hold roughly comparable positions as technological cores; however, since the 2008–2009 global financial crisis, the EU’s global competitiveness has been declining, reflected in its growing dependence on imports of knowledge-intensive information and communication technologies and research and development services. Conclusion. The proposed composite index clarifies theoretical approaches to the formation of a polycentric world economy, highlights the strengthened positions of new economic and technological centres, and provides a practical tool for assessing the maturity of technological cores.

On May 30, 2024, Beijing hosted the 10^th jubilee ministerial meeting of the China-Arab States Cooperation Forum (CASCF). It intended to open broad horizons for developing China-Arab relationships, based on a common future and civilizational dialogues. Hence, the subject of the present study is constituted by analyzing the role of civilizational culture in establishing a new era in China — Arab states trade and economic relations. The purpose is to identify most significant features of the Chinese and Arab cultures and their relevant business practices, which could assist in navigating more easily while conducting cross-cultural business communications at the levels of states, companies, and individual entities. The relevance of the research relates to the growing importance of non-confrontational political, economic, and cultural tools of “soft power” in enhancing Beijing’s role across the MENA region. The scientific novelty of the article stems from the use of a vast variety of sources in Arabic, Chinese, and Russian, inaugurating some of them into scientific domain. The list of the methods includes comparative and systems analysis, as well as the empirical method of field research, sampling, observation, grouping, generalization, and systematization, following historical, convergent, and synergetic approaches. The results of the study enabled the authors to make recommendations about organizing future expert discussions and scientific publications with the comparative analysis of the Chinese and Arab cultures. The authors concluded that sharing common ethic fundamentals by the Chinese and Arabs could create a favorable ground for fulfilling the Arab dimension of China’s Global Civilization Initiative.

The subject of this study is the relationship between financial transparency and the financial performance of microfinance institutions (MFIs) in Ethiopia. The research focuses on four core dimensions of transparency: external auditing, public disclosure, compliance with accounting standards, and timeliness of financial reporting, examined through the theoretical frameworks of agency theory and stakeholder theory. The purpose of the study is to determine how these transparency dimensions influence institutional profitability, measured by return on assets (ROA), in a donor-dependent and regulation-intensive environment. The relevance of the research arises from persistent governance challenges, inconsistent reporting practices, and the strategic importance of MFIs in promoting financial inclusion and socio-economic development in emerging markets. The scientific novelty lies in the development of a hybrid conceptual framework that integrates international theoretical models with Ethiopia-specific institutional conditions and in the application of a mixed-methods approach that combines econometric analysis with qualitative insights from industry executives. The methodology includes fixed-effects regression analysis of a balanced panel of 13 licensed MFIs for the period 2015–2024, supported by thematic analysis of semi-structured interviews. The results demonstrate that external auditing, public disclosure, and compliance with accounting standards significantly enhance ROA, while delays in financial reporting reduce profitability. Qualitative findings confirm that transparency improves institutional credibility, donor trust, and operational efficiency, but its implementation is constrained by capacity limitations, regulatory inconsistencies, and divergent stakeholder expectations. The authors conclude that transparency should be viewed not only as a compliance obligation but also as a strategic driver of resilience, competitiveness, and sustainable growth in Ethiopia’s microfinance sector.

The relevance of the study is due to the fact that corporate social responsibility (CSR) is an integral part of entrepreneurial activity focused on sustainable development. Scientific problem: It is traditionally believed that the concept of CSR originated in the United States in the mid-20th century and appeared in the modern Russian Federation only with the advent of transnational corporations at the end of the 20th century. However, historical data indicate deep-rooted traditions of socially responsible entrepreneurship in Russia long before their official recognition. The purpose of this work is to identify the practices of social responsibility by textile manufacturers in the Ivanovo region at the turn of the 19th and 20th centuries and compare them with the current state of the industry and the manifestation of CSR in it. Methods: More than 100 authentic historical documents from the collections of the Ivanovo State Museum of Local History named after Dmitry Burylin were analyzed, and D. G. Burylin’s socially responsible activities were systematized according to the CSR pyramids of A. Carroll and N. Masoud. The results obtained showed that textile manufacturers of the past demonstrated economic, legal, social responsibility and were also engaged in philanthropic activities. This proves that the philosophy of responsible entrepreneurship existed in Russia long before its appearance in the modern sense, which allows us to rethink Russia’s role in the development of the concept of corporate social responsibility. In addition, the authors conducted a comparative analysis of the largest textile enterprises in the Ivanovo region in the 1900s and 2020s. Some lag of modern enterprises has been revealed, both in economic development and in social activity. In this regard, it is advisable for modern enterprises to adopt the experience of the past and continue the traditions of social activity in the textile industry of the Ivanovo region.

Research objectives. Contemporary global challenges, such as demographic shifts, the climate crisis, and rapid technological transformation, necessitate innovative approaches to managing social security systems.

This study addresses the urgent need for tools to enhance the efficiency of Financial-Investment Models of Social Security (FIMSS), particularly under constrained fiscal resources and heightened uncertainty. The aim is to develop and validate a comprehensive approach for assessing FIMSS efficiency, incorporating modern challenges and public finance management specifics. Methods. By integrating ratio analysis, factor analysis, and advanced machine learning techniques, including gradient boosting (XGBoost), this study establishes a robust, multi-level framework for efficiency evaluation. The dataset covers 38 Organisation for Economic Cooperation and Development (OECD) countries, Russia, and China over the period 2005–2022, enabling cross-country comparisons, with regression analysis limited to a subsample of 26 countries due to data availability. The scientific novelty lies in introducing the EffCoverSP indicator, which accounts for social protection coverage and employing partial dependence plots (PDP) to uncover nonlinear relationships among socioeconomic factors, extending macroeconomic theories of social system sustainability and social justice frameworks. Results reveal that FIMSS efficiency is driven by moderate budgetary expenditures, public debt below 50% of gross domestic product, a Gini index of 0.37–0.43, urbanization of 63–74%, and fertility rates of 1.55–1.7. The practical significance lies in the potential application of this approach to reform FIMSS, enhancing their sustainability and adaptability to global challenges, thereby informing evidence-based policy decisions.

The subject of this study is a comprehensive typology of the global cognitive, spiritual, and moral shifts currently influencing the world economic system. The purpose of the study is to identify and classify the prevailing transformations in both individual and collective consciousness and spiritual content that is reflected in economic behavior and growth conditions at the global level. The relevance of this study arises from the necessity to fully incorporate the factors under consideration into the concept of economic development. The author employs the methods of content analysis and inductive research to examine processes encompassing such areas as knowledge, information, responsibility and culture, as well as the method of typological classification. The result of the analysis is to elucidate the mechanisms through which the examined shifts manifest themselves and interact within the global economic system. The novelty of this typology lies in its identification of complex properties and interrelations between cognitive and moral transformations and their underlying drivers, as well as their influence on economic development. The study reveals that each type of change has progressive characteristics, but their processes are uneven across countries and communities and may face problems of ambivalence, which complicates the analysis of feedback loops and their impact on global economic dynamics. Conceptually, this research is important for advancing theories of economic growth, sustainable development, and ethical economics. The author concluded that the suggested typology may be applied in developing policy principles aimed at more effectively harnessing the benefits of the information and knowledge revolution, fostering mutual respect among stakeholders, and promoting sustainable economic development.

Over the past decades, financial markets have increasingly exhibited features of both randomness and uncertainty, creating challenges for interest rate models that rely solely on stochastic or uncertain processes. These models often fail to adequately capture the dual nature of indeterminacy, limiting their relevance in volatile and unpredictable market conditions. This study aims to design and assess an interest rate model for uncertain-stochastic financial markets and to derive a framework for zero-coupon bond pricing under this setting. The methodology applies uncertain stochastic differential equations, which integrate elements of both probability theory and uncertainty theory, thereby accommodating aleatory and epistemic forms of indeterminacy. The proposed model extends the classical short-rate frameworks by introducing two sources of indeterminacy and provides theoretical derivations for bond pricing. Numerical illustrations are included to demonstrate the application of the model to zero-coupon bond valuation and to highlight differences from conventional approaches. The findings indicate that interest rates and zero-coupon bond prices in uncertain stochastic financial markets can be effectively modeled through uncertain random processes, leading to improved pricing accuracy and risk management in environments characterised by incomplete information and unpredictable shocks. The key conclusion is that incorporating uncertain stochastic differential equations into the interest rate and zero-coupon bonds’ prices modelling offers a more robust and flexible framework for uncertain stochastic markets. This study contributes to the growing body of uncertain stochastic finance by underscoring the need for hybrid models capable of guiding policymakers, investors and financial institutions in ensuring stability and resilience under future market uncertainties.