ABSTRACTS

Maevskii V.I. A Version of Macroeconomic Strategy of the Development of Russia.
    The paper shows that the successful long-term development of the Russian economy depends mainly on the modernization of investment sector and overcoming the deficit of financial resources for fixed stock investments. The author examines two methods to cope with the problem: the rents-redistributing method (D.S. Lvov's concept) and the emission method of «long-money» creating. Within the second one, budget deficit policy, internal state debt policy and the intensification of Bank of Development activity play an important positive role.

Berkolaiko M.Z., Russman I.B. On the Methods of Assets Portfolio Formation and Management.
    The problem of assets portfolio formation is examined by analogy with development of reliable schemes composed of unreliable elements. When managing a portfolio, risk is being interpreted as a degree of threat of goal unassailability, and is computed on the base of mathematical apparatus formalizing the concept of «difficulty of goal attainability».

Bagrinovsky K.A., Isaeva M.K. New Directions in the Research on Mechanism for Managing Technological Development.
    The paper presents the modification of the complex of economic-mathematical models for studying the mechanism for technological development on macro level. It also develops the models of the interaction between industry, bank system and scientific research sector and the models of life cycles and product market competition. These models extend the opportunities for computer-based research of creation and development of new production technologies given different strategies and aims of both the state and the private investors.

Pachina T.M. Institutional Requirements to the Fiscal Control of Financial Flows.
    The paper discusses the problem of formation of the institute of fiscal control consistent with the volumes, directions and structure of the country's financial flows. The governmental fiscal control is one of the underdeveloped social institutions. The author proposes a way of restructuring the control system, solving a number of interconnected problems such as the ability of financial statistics to provide reliable information on the flows, estimation of volumes involved into economic turnover of financial resources and identification of the necessary amount of control measures for particular directions of flows.

Chaplygin V.G. The Theoretical Aspects of Currency and Financial Integration
The paper discusses the roots and nature of currency and financial integration at the current stage of economic development. This theory, along with globalisation theory, is well developed in the western economic thought, yet it still remains unknown in Russia. Meanwhile, the introduction of a single currency and the problems with the Stability Pact in the European Union pose new questions for research in this area.

Minakir P.A. Far East and Other Regions in the Modifying Russian Economy.
    Peculiarities of modifying criteria's in field of making production settlement and regional development decisions have been analysing. Description of the spatial distribution of production factors, commodities and services has been discussed. The Russian Far East are describing as an example of the spatial market structure' modification.

Romanova O.À., Malysheva L.A. The Integrated Conceptin of Controlling: Actuality, Becoming and Prospects.
    The article analyzes the stages of improving controlling. Influence of management science schools, theories of organization development, control theories and systematic approach to controlling ideas are considered. Reasons for changing the stages of controlling are studied. Contradictions in modern methods of controlling are determined. The authors suggest the integrated conception of controlling and favor the further research into the theory and practice of controlling.

Zarnadze A.A., Yazev V.A State Ownership and Integrity of the System of National Economy Management.
    The paper underlines the need for increasing the role of management, namely, the  system of state administration in conditions of formation of market economy. Special attention is given to complete economic systems (CES) with intensive expanded self-reproduction, which implies the reproduction of socioeconomic and industrial potential of the system and its nature environment at the expense of its own financial resources. The system of state administration is identified with CES, which means that all system properties of economy such as solvency, liquidity, financial stability, profitability, financial independence, are characteristic of the system of state administration. The author places particular emphasis on the property of intensive expanded self-reproduction at the expense of one's own capital. To maintain the financial stability the system of state administration should have its own capital not below a certain criteria level in its general weight both on national and regional scale.

Fetisov G.G. New Approaches to Currency Control: Liberalization or Growing of Transactional Costs?
    The reform of exchange control realizes inconsistently and causes new risks. The establishment of partial reservation of importable and exportable capital flows together with the permission to open accounts in foreign banks stimulates outflow of capital. The liberalization of transboundary capital flow toughens the requirements to the quality of exchange control and macroeconomic policy. Especially its main contradiction between rising of dollar emission with purpose to stabilize the rate of exchange and emission restriction by overstating of Central Bank rate should be eliminated. Bank of Russia should widely use such monetary instruments as refinancing of banks credits and currency corridor.

Akopov A.S., Beklrayan G.L. The Comparative Analysis of Production and Investment Characteristics in the Energy Sector (Oil, Oil-refining, Gas and Paw Industries) of Russian Regions.
    The article shows the results of the research of industrial and investment characteristics of the major energy industries in the regions of the Russian Federation. The authors' approach allows to study the state of industrial sector and to estimate investment attractiveness of the energy sectors. The analysis considers the example of 26 regions making a basis for the Russian energy industry.

Fridman A., Vecherina O. Israel as the Key Subject in the World Diamond Market.
    The article is dedicated to the diamond industry of Israel which is the key subject of the WDM. Not being a diamond producer, it annually imports rough diamonds worth $4 billion (i.e. about 45 per cent of the world diamond output by value) and exports cut diamonds worth $6 billion (about 40 per cent of the world production). The country is the world leader in diamond cutting technologies and the center of world diamond trade. Russia is one of the world's major diamond producers, accounting for about 20 per cent of world diamond output by value. Therefore, the analysis of Israel's experience is not only a subject of scientific interest. It also enables to learn important lessons. In more detail these questions are discussed in the authors' book (2003), where for the first time the statistical data on the diamond industry of Israel in 1949–2002 is published. All the data, diagrams and the table used in this article are taken from the book mentioned above.

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