This paper discusses the results of a study aimed at gaining a deeper understanding of how the COVID-19 pandemic has changed the Russian tourism market and how local tourism enterprises respond to challenges caused by the COVID-19 pandemic. Summarizing their experience of doing business in crisis conditions can allow a more efficient response to similar crises in the future and contribute to a more resilient tourism sector in the aftermath of the pandemic. In order to meet the research objective, we combined various sources of operational statistical information about the state of the industry with the results of a survey conducted in the Nizhny Novgorod region and in-depth interviews with representatives of tourism enterprises. We found that Russian tourism enterprises have proved to be quite resilient by looking for additional opportunities, and paying special attention to staff development and team consolidation. However, there are problems faced by local tourism enterprises in obtaining state support. Therefore, tourism enterprises that rely on themselves and innovate to create services and products adjusted to new customer needs and preferences have a better chance to survive. In particular, the wider use of digital marketing instruments helps SMEs to propose a new value for customers aligned to the new requirements and trends in tourism, such as travel security, prevailing interest in individual and short-term trips for short distances, and the sharply increased demand for domestic tourism destinations.

Аннотация. Идентификация промышленных кластеров, которые создаются и функционируют на основе формальных и неформальных связей, является актуальной исследовательской задачей. В статье обозначена проблема ограниченности существующих подходов к решению данной задачи, проанализированы недостатки метода выделения вертикально организованных структур на базе технологических связей и территориальной близости предприятий, потенциально составляющих кластер, и предложен метод выделения промышленных кластеров на основе анализа бизнес-связей. Методологической базой исследования послужили новая институциональная экономическая теория, а также теоретические положения формирования и развития кластеров, промышленных районов и других территориально-отраслевых структур. Использованы методы анализа, синтеза, классификации, бинарных связей. Предложенный авторами метод выделения промышленных кластеров апробирован на примере текстильного кластера Ивановской области. Результаты исследования подтверждают, что авторский подход к идентификации промышленного кластера позволяет определять состав предприятий -участников кластера, дает основу для анализа вертикальных и горизонтальных связей между ними с учетом информации о контрагентах. Это выступает основой для изучения причин и истоков зарождения кластера, включая мотивацию участников, драйверы и барьеры участия в кластере, особенности управления и координации совместной деятельности, наличие особых синергетических эффектов для участников кластера, взгляд на стратегию его развития. Предложенный подход может быть применен в отношении других регионов РФ и целого ряда других отраслей. Ключевые слова: бизнес-связи; промышленные кластеры; кластерные промышленные системы; коопкуренция; устойчивость кластеров; старопромышленные регионы. Финансирование: Исследование проведено при финансовой поддержке экономического факультета МГУ им. М.В. Ломоносова (исследовательский проект «Применение методов сетевого анализа институциональных факторов становления и развития производственных кластеров»).

Development of Russian financial markets is gradually becoming a subject for standard economic analysis. Accumulated statistics make it possible to pose some questions about features of development and operation of financial markets in Russia. This paper analyses relationships between the two leading Moscow stock exchanges, as well as analysing performance of their indices and trading volumes, and factors determining index changes. The authors are far from thinking that their work is comprehensive or gives final answers to the questions posed. On the contrary, the authors hope that the paper will be a starting point for development of a fruitful scientific discussion of the issues concerned.Russian stock exchanges, their trading volumes and share prices, offer material which makes it possible to search for clear and steady patterns of performance. Although the period of organised stock trading in Russia is quite short, the combined use of monthly, daily and hourly observations allows a variety of questions to be posed. For example, what is the relationship between the performance of the two exchanges as regards indices and trading volumes, and how are those related to international indices and important factors traditionally affecting levels of market activity, such as economic activity in Russia, commodity prices, etc.? One interesting aspect of stock index performance is the slow rate of index growth despite the relatively long-lasting economic recovery (Figure1). Figure 1. Stock indices and industrial production index (1997 = 100%) 0 100 200 300 400 500 09.80 90 100 110 120 130 MICEX CSI (points, left scale) RTS (points, left scale) IPI (%, right scale)

. The paper assesses sustainable development dynamic aspects in territorial management. The relevance of the work is determined by the importance of territorial management based on the principles of sustainable development and the need to scrutinize the socio-environmental and economic potential of the territories in order to create conditions for the full use of available resources without compromising the quality of life of current and future generations. Methodologically, the study rests on the concept of sustainable development, resource theory of economic systems, the dynamic approach to management, and the methodology for constructing integrated indicators and systems of indicators. In the article, the methods of analysis, synthesis, systematization, statistical observation, etc. are applied. Having shown the advantages and disadvantages of integral indicators found in Russian and foreign studies, the authors focus on selecting official statistics data that adequately reflect the state of the economy, population health and welfare, as well as natural capital. An increase in the level of welfare and population social development, while maintaining environmental sustainability, is regarded as the criterion of sustainability. Addressing the case of the Volga macroregion, we characterize the current state of regional development and scrutinize the dynamic aspect, namely the long-term development trajectory of each of the 17 regions. The research analyzes the growth rates of sustainable development indicators for the period of 2010–2017. The study reveals significant differences in the dynamics across the regions. The Republic of Tatarstan and Nizhny Novgorod oblast demonstrate a positive trend in all the components at initially high values, while the Republic of Kalmykia shows the worst dynamics at low values. The authors conclude that the system of indicators is preferable to the integral indicator and the system for assessing the effectiveness of long-term measures of public policy and related management decisions.