As a result of development of the network technologies and horizontal integration of social processes, a new financial instrument - equity сrowdfunding – has been formed. This innovative method ensures over-the-counter offerings, which expands the sphere of public financing to small and medium-sized business. However, implementation of this instrument calls for some changes in legislation for the stock market.
This paper presents a complex analysis of the main changes in the US legislative base, features EU legal standards, and identifies key elements of the economic-legislative regulatory mechanism. In conclusion, current Russian legislation is analyzed - with evaluation of its adaptiveness to changes in accordance with global practices.
In the next two years, the UK will be faced with a complicated geopolitical situation. The relations with its two key partners – the EU and the USA – will be changed. The USA, when dealing with European issues, will begin to rely on Germany rather than on the UK. It will be necessary to negtiate with the EU a new relationship model that will envisage that the UK should not participate in the decision-making process inside the European Union, and should have no internal inﬂuence there. Simultaneously, there will be a need for negotiations on new trade agreements with a number of countries that are not EU member states, because the UK, once it has withdrawn from the US, will automatically ﬁ nd itself outside of the international trade agreements concluded on behalf of the EU, including those in the framework of the WTO.
In mid-April 2013, the Secretariat of the World Trade Organization (WTO) published an annual analytical review on the basis of the results of development of the international trade in 2012 and the prospects of its development in 2013. The above document includes as well the initial statistical data on the global trade in goods and services by the country in 2012.
Less than a hundred days passed from inauguration of Donald Trump but it is already clear: the 45th president of the United States does not plan to stop using diplomatic tools and global institutions for the implementation of his foreign policy, whose priorities are American interests and the US national security. Despite the harsh rhetoric in the UN, cooperation with the Organization on key areas of its activities: promotion of development, peacekeeping and humanitarian affairs would continue. The Group of seven and the G20 leaders have much more common priorities and common objectives than differences. A detailed plan of the country’s participation in the work of the various WTO bodies suggests that talk of revising United States policy with regard to WTO prematurely. D. Trampe continue United States leadership in NATO, and the requirement of increasing defence budgets partners doesn’t mean the reduction of military expenditures, United States.
The current change in expectations concerning the prospects of global economy development is reflected in weakening demand for metallurgy products, primarily in China. International and Russian domestic producer prices for the major types of metal goods continue to decline. The rouble weakness no longer suffices for the Russian metallurgical industry to sustainably overcome the slump, let alone to resume its development. The dwindling domestic demand has pushed up Russian metallurgy exports in physical terms, although they have significantly declined in money terms.
A suspension of trucking between Russia and Poland and subsequent shutdown of road freight transportation between Russia and Ukraine have made Russian freight carriers switchover par ally their routes to those via the Baltic States. It is to be noted that Poland and Ukraine which initiated border closure for carriers were affected the most by suspension of trucking. Probably, assessment of negative effects prompted Russia and Poland to exchange permits to trucking (170,000 licenses to each side till the end of the year) on 1 April 2016.
According to the results of Q1 2017, in 34 Russian regions households' incomes increased as compared to the relevant period of the previous year, however, in most constituent entities of the Russian Federation (62 regions) consumption kept falling. The crisis is not yet over on regional labor markets despite the low level of the inflation rate. In 15-20 most problem regions, partial employment is going down slowly and wage arrears are growing again. In the period under review, social expenditures of regional budgets rose ahead of the inflation rate thanks to considerable growth in revenues. As generations which are currently at the peak of their reproduction age are small, Russia has entered a long period (at least for a decade) of a falling birth rate. Unlike 2016, this trend has affected all the regions of the Russian Federation. Though the death rate keeps falling, it is not enough to offset the reduction of the birth rate: in January-April 2017 the natural decline in the population amounted to 93,000 people.
Although the process of development of Russia’s regions in 2017 (January-October) was less problem-ridden than in 2016, the economic stabilization did not bring about any positive social progress. The growth of the portion of regional budgets allocated to social expenditures conduced to a more noticeable increase in the funding of education and culture, but the growth of health care expenditures was extremely insignificant for the second year in a row. The volume of welfare benefits issued to the population in the field of social protection remained practically unchanged, although it should be said that more than 40% of the regions did optimize them. Over the period January-October 2017, Russia registered a 170 thousand decrease in the number of births as compared with the same period of the previous year. In November, Russia initiated the introduction of several new measures designed to boost its birth rate and to support families with children. The mortality rate from all causes of death continued slowly to decline. However, the rate of natural population decline rose to 115,000. Over the period January-September 2017, migratory increase was the lowest since 2010. Although for the time being this increase is sufficient to compensate for natural population decline, if the current trends continue, Russia’ population can start shrinking again. Temporary migration to Russia also continues to decline slowly. Most of the migrant workers come to Russia from the CIS countries, the vast majority of them being the natives of Central Asia.
As in all of Russia’s earlier economic crises, wage flexibility has become the main mechanism of the labor market’s adaptation to the current crisis. As a result of the high rate of inflation observed in late 2014 – early 2015, real wages dropped by 9.5%, although nominal wages remained unchanged. The considerable reduction in labor costs made it possible for employers to abstain from cutting jobs, due to which the rise in the unemployment rate was utterly insignificant.