The implementation of neoliberal reforms in higher education coincides with the radical institutional changes in the transition from a planned to a market economy. The modernization of higher education is also connected with the concept of the “entrepreneurial” university that represents a third-generation university with an emphasis on optimization and marketing. However, economic policy aimed at reforming and developing the public sector is based on the import of institutions related to the production of public and mixed goods. In this paper, we show that neoliberal reforms threaten the welfare state in transition economies such as the Russian Federation. In addition to marketing, monetization, and commercialization, all areas of the public sector underwent an optimization policy, which primarily implied a relative reduction in the cost of producing public goods. The rhetoric of the marketing of education represents the modern state’s masked refusal to fulfill a part of its social obligations. Moreover, we argue that market channels intended for financing education are highly dependent on the income level of the population, the availability of institutions and the infrastructure for raising funds, and, most importantly, the development of the educational services market. Within this context, another significant factor is represented by the positive externalities from the prevalence and quality of education. Thence, our results show that insufficient private demand for education, including higher education, can negatively affect the prospects for the country’s socio-economic development in the medium and long run.

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The paper deals with household savings and investment functions. The institutional features of the household economy in the world economy are presented in terms of their place and role in the national economies. The specific household investment activities are analyzed in the context of strategic financial choices. Household activities imply a choice between various behavioral imperatives. The search for appropriate areas to invest temporarily free cash in order to meet household needs influences this choice. The significance of a system of contributing institutions is shown to facilitate these processes. As the authors argue, the economy should encourage the system of institutions, favorable for stimulating the household investment activities. It appears crucial to stimulate household investments in various economic assets. This study presents a comparative analysis of the Russian, Kazakh, Belarusian, Armenian, Kyrgyz, and American household investment activities. Worldwide experience shows that similar tendencies occur, which characterize households investment activities in different countries. The authors identified the differences in household living standards, incomes and investments among the countries. As the research findings suggest, low-income households prefer risk-free investments. Recommendations are made on improving institutional instruments to stimulate households to choose a predominant financial strategy of saving.

Россия заняла второе место по экспорту вооружения в мире с долей 23%, США стали лидерами-их доля составила 33%. Но структура акционерного капитала в компаниях ОПК абсолютно разная, если сравнить эти две страны: в США на рынке доминируют частные компании, в России-крупнейшие предприятия принадлежат государству. В ходе анализа выяснилось, что российские предприятия ОПК убыточны или же малорентабельны, у них нет стабильности в финансовых показателях, так как они сильно зависят от государственных затрат. Для улучшения сложившейся ситуации в данном секторе государству целесообразно провести модернизацию компаний ОПК с целью повышения роли рыночных механизмов, которые станут стимулом к развитию НИОКР, так как в рамках современных условий конкуренции на любом рынке инновации представляют исключительное преимущество для процветания предприятий.