+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»






National Interests: Priorities and Security

Determining and evaluating the level of socio-economic risks for Russia to respond to ‘Grand Challenges’

Vol. 17, Iss. 3, MARCH 2021

Received: 28 January 2021

Received in revised form: 16 February 2021

Accepted: 2 March 2021

Available online: 15 March 2021


JEL Classification: O11, O47, R11

Pages: 443–469


Nataliya V. KUZNETSOVA Far Eastern Federal University (FEFU), Vladivostok, Primorsky Krai, Russian Federation


Ekaterina V. KOCHEVA Far Eastern Federal University (FEFU), Vladivostok, Primorsky Krai, Russian Federation


Nikolai A. MATEV Far Eastern Federal University (FEFU), Vladivostok, Primorsky Krai, Russian Federation


Subject. The modern economic development strongly depend on a powerful regulator, such as grand challenges, which have become a critical barrier, requirement, level that should be attained. Considering the grand challenges, the country set up goals and tasks for the coming period and adjusts operations of economic agents. Therefore, it is necessary to assess the gap between the absolute and current market potential with reference to qualitative and quantitative indicators. The study is called to assess whether Russia is prepared for the existing and arising grand challenges. We also determine risk mitigation methods and the probability of negative scenarios.
Objectives. We determine and evaluate the level of socio-economic risks for Russia to respond to the grand challenges. We also pinpoint key directions for the Russian regions to continue their socio-economic development in order to promote their further economic growth.
Methods. The study presents the economic-mathematical modeling of the nexus among factors that determine socio-economic risks of the GRP dynamics to find their mitigation methods. In the study, the logit-model with dummy variables that attribute the regions to certain clusters.
Results. We analyzed and classified risks of the Russian regions by 10 integral indicators. The article shows homogeneous regional zones exposed to similar socio-economic development risks. We also carry out the multivariate classification of the Russian regions by the risks assessed. As the findings show, the Russian regions strongly differ by socio-economic risks. The article spotlights priorities of the socio-economic development of the constituent entities of the Russian Federation.
Conclusions and Relevance. As their key development vector, the Russian regions need to overcome the technological gap, mitigate the S&T potential risk and a drop in the innovative activity of the economy.

Keywords: grand challenges, risks, modeling, integral indicators, logit model


  1. George G., Howard-Grenville J., Joshi A., Tihanyi L. Understanding and Tackling Societal Grand Challenges Through Management Research. Academy of Management Journal, 2016, vol. 59, iss. 6, pp. 1880–1895. URL: Link
  2. Howard-Grenville J., Buckle S.J., Hoskins B.J. Climate Change and Management. Academy of Management Journal, 2014, vol. 57, iss. 3, pp. 615–623. URL: Link
  3. Kulik C.T., Ryan S., Harper S., George G. Aging populations and management. Academy of Management Journal, 2014, vol. 57, iss. 4, pp. 929–935. URL: Link
  4. George G., Schillebeeckx S.J.D., Liak T.L. The Management of Natural Resources: An Overview and Research Agenda. Academy of Management Journal, 2015, vol. 58, iss. 6, pp. 1595–1613. URL: Link
  5. Hall P. Policy Paradigms, Social Learning, and the State: The Case of Economic Policymaking in Britain. Comparative Politics, 1993, vol. 25, no. 3, pp. 275–296. URL: Link
  6. Van der Vegt G.S., Essens P., Wahlström M., George G. Managing Risk and Resilience. Academy of Management Journal, 2015, vol. 58, iss. 4, pp. 971–980. URL: Link
  7. Grodal S., O’Mahony S. How Does a Grand Challenge Become Displaced? Explaining the Duality of Field Mobilization. Academy of Management Journal, 2017, vol. 60, iss. 5, pp. 1801–1827. URL: Link
  8. Colbert A., Yee N., George G. The Digital Workforce and the Workplace of the Future. Academy of Management Journal, 2016, vol. 59, iss. 3, pp. 731–739. URL: Link
  9. Dodgson M., Gann D., Wladawsky-Berger I. et al. Managing Digital Money. Academy of Management Journal, 2015, vol. 58, iss. 2, pp. 325–333. URL: Link
  10. Joshi A., Neely B., Emrich C. et al. Gender Research in AMJ: An Overview of Five Decades of Research and Call to Action. Academy of Management Journal, 2015, vol. 58, iss. 5, pp. 1459–1475. URL: Link
  11. Churchman C.W. Wicked Problems. Management Science, 1967, vol. 14, no. 4, pp. 141–142. Stable URL: Link
  12. Rittel H.W.J., Webber M.M. Dilemmas in a General Theory of Planning. Policy Sciences, 1973, vol. 4, no. 2, pp. 155–169. URL: Link
  13. Rozhdestvenskaya S.M., Klochkov V.V. [The paradigm of Grand Challenges in the strategic planning system of scientific and technological development]. Rossiya: tendentsii i perspektivy razvitiya = Russia: Trends and Development Prospects, 2017, no. 12-3, pp. 389–395. URL: Link (In Russ.)
  14. Kuznetsova N.V. [The paradigm of Grand Challenges is a new stage in the development of the world economic system]. Menedzhment v Rossii i za rubezhom = Management in Russia and Abroad, 2018, no. 6, pp. 3–15. (In Russ.)
  15. Raiskaya N.N., Sergienko Ya.V., Frenkel' A.A. [The use of integrated indices in economic cycles analysis]. Voprosy Statistiki, 2012, no. 12, pp. 16–20. (In Russ.)
  16. Aderikho Yu.A., Kryukov A.F., Shelomentsov A.G. et al. Prognozirovanie tsiklichnogo obshchestvenno-ekonomicheskogo razvitiya i vnutrennei sredy organizatsii: monografiya [The prediction of cyclical socio-economic development and the internal environment of the organization: a monograph]. Krasnoyarsk, Siberian Federal University Publ., 2013, 404 p.
  17. Kuznetsova N.V., Kocheva E.V., Matev N.A. Multivariable Classification of Countries of the World in Terms of Innovation Development. International Journal of Engineering & Technology, 2018, no. 7, pp. 360–368.

View all articles of issue


ISSN 2311-875X (Online)
ISSN 2073-2872 (Print)

Journal current issue

Vol. 20, Iss. 2
February 2024