Insurance is the most important institution for social and financial protection. Therefore, the development level of the regional insurance market not only determines the volume and quality of this protection, but also influences the social and economic development of the region through the coverage of risks and the provision of additional jobs. In turn, many factors have a significant impact on the development of the regional insurance market itself. This study is aimed at developing a model for governing the development factors of the regional insurance market, which (governance) focuses on improving the development efficiency of not only the regional insurance market itself, but also the socio-economic development of the relevant region. In this regard, the model for governing the factors of development of the regional insurance market involves solving the following scientific problems: identifying national factors for the functioning and development of the Russian insurance market that influence the development of the regional insurance market; determining regional development factors affecting the regional insurance market; identifying the impact of the regional insurance market on the socio-economic development of the region; developing recommendations on the effective impact of national and regional factors on the regional insurance market development and, through it, on the socio-economic development of the region. Implementation of the proposed model for governing the factors for the regional insurance market development will increase its efficiency and strengthen the socio-economic development of the region.
Big -it is magnificent, seductive and fabulousSmall -it is fine, quivering and sensitive Abstract. The aim of the study was identification of ultra-small territories, features of their economic development and modern business status in the context of the classification of small economies. The object of investigation is small economies of West European and Nordic countries as well as ultra-small autonomous territories of Åland and Faroes islands affiliated to Finland and Denmark, respectively. The hypothesis of the article is that ultra-small autonomous territories under consideration are developing as the "competitive subperipheries" due to their special industrial organization, stimulated by the national and, partially, by the EU economic policy supporting the economic growth of both autonomies. The methods of the study comprise analysis-synthesis, historical and logical methods, international comparisons. The main conclusion is that the Åland and Faroes islands are nowadays converting into the transport-logistics, informational, financial bridges among different European regions and countries.
The answer to the question about the labor migrants attraction economic effect on the national economy of the recipient countries remains uncertain. Therefore, the purpose of the study is to determine the necessity and significance of mass labor migration for the economic development of recipient countries in general and Russia in particular. During the study, the authors implemented the following tasks:1) to identify and assess the contradictions that occur at the micro and macro levels in the host country using migrant labor;2) to calculate the most essential economic indicators of the efficient use of foreign labor in Russia (based on 2016 data);3) to assess the contribution of migrant labor to the GDP; and4) to clarify the impact of all levels of taxes and fees for patents by legal migrants and evasion of such payments by illegal migrants on revenues and expenditures of budgets, accompanied with state budget expenditures to investigate illegal activities (sometimes criminal in nature) with the subsequent deportation of such migrants from the country.Marketing research has shown that contradictions arising at the micro and macro levels are revealed, which explains the effect of the “migration trap”; the low efficiency of using foreign labor in the Russian economy has been proved, as evidenced by the insignificant share of GDP produced by migrants and significant leaks of a part of GDP from the country’s economy through the transfer of funds to donor countries; an imbalance between the needs of the national economy for additional labor by industries and the actual use of foreign labor entering the Russian market is shown; weak influence of the state on the national labor market and the lack of systemic regulation of the quality of training and the scope of migrant labor are revealed.
The relevance of the paper is predetermined by the fact that insurance acts as an institute of financial and social protection, and insurance companies (especially for long-term life insurance) are the most important and socially responsible investors, which account for about 8-12% of total investments in developed countries in the economy, which, in turn, serves as a significant factor in economic growth. The purpose of our paper is to prove the relationship between the level of development and dynamics of insurance markets on the one hand, and the level and dynamics of economic growth rates in a number of countries, on the other. To achieve the goal, we set and solved the research objectives: 1) to determine the degree of elaboration of the problem of the relationship between economic growth and the development of the insurance market in a number of countries and regions of the world economy; 2) to construct a comprehensive classification of similar and different characteristics in certain countries of the worlds’ economy (European, Asian, extended countries with a federal structure, post-socialist countries); 3) to highlight some indicators of the level of economic development and growth of classified countries (central bank interest rate, economic growth rate, investment growth rate, etc.) associated with some parameters of insurance market development, primarily with the volume and growth rate of insurance premiums, including the growth rate of life insurance premiums; 4) to classify the insurance regulation models of the grouped countries based on the analysis of the relationship between the selected economic and insurance indicators; 5) to assess the degree of relationship between the development of a relatively young and unbalanced insurance market and indicators of economic growth in Russia. The latter occupies a special place in the classification of the countries under consideration by characteristics of insurance development, by spatial, geopolitical parameters, by indicators of economic development and economic dynamics. The research results and conclusion are the following: 1) there is a direct relationship between the indicators of economic growth and indicators of the development of the insurance market in national economies and regional integration complexes; 2) different types of grouped countries have a different degree of dependence between indicators of economic growth and the insurance market indicators’ development, which is determined, not least of all, by historical, economic, spatial, geographical and geopolitical characteristics; 3) the close relationship between the indicators of economic development and growth of countries under consideration and their insurance markets is ambiguous, due to the fact that the active growth of insurance is noted in countries with a high density and a significant proportion of the young population; 4) the reasons for similarities and differences in the relationship under study are diverse and determined by differences in functioning of socio-economic systems (geographical, legislative, political, social, etc.), as well as by the adopted model of insurance regulation; 5) the growth of the insurance market corresponds to the general economic growth, subject to the intensification of investment activity; 6) life insurance shows a closer relationship with macroeconomic indicators compared to other segments of the insurance market; 7) the importance of studying the proposed problem for Russia in the future is due to its important integrating function for the national insurance markets of European as well as Asian countries.
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