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Review of Business and Economics Studies Вестник Исследований Бизнеса И Экономики Т. 7 • № 2 • 2019 ISSN 2308-944X (Print) ISSN 2311-0279 (Online) Review of Business and Economics Studies Вестник исследований бизнеса и экономики DOI: 10.26794/2308-944X Издание перерегистрировано The edition is reregistered в Федеральной службе по надзору in the Federal Service for Supervision в сфере связи, информационных of Communications, технологий Informational Technologies and Media и массовых коммуникаций: Control: ПИ № ФС77–67072 PI № ФС77–67072 от 15 сентября 2016 г. of 15, September, 2016 Периодичность издания — Publication frequency — 4 номера в год 4 issues per year Учредитель: «Финансовый университет» Founder: “Financial University” Журнал включен в ядро Российского The Journal is included in the core of the индекса научного цитирования (РИНЦ) Russian Science Citation Index (RSCI) Журнал распространяется по подписке. The Journal is distributed by subscription. Подписной индекс 42137 Subscription index: 42137 в объединенном in the consolidated каталоге «Пресса России» catalogue “The Press of Russia” Vol. 7 • No. 2 • 2019 Review of Business and Economics Studies DOI: 10.26794/2308-944X Review of Business and Economics Studies EDITOR-IN-CHIEF Prof. Vladimir Kvint Dr Shen Minghao Prof. Alexander Ilyinsky Chair of Financial Strategy, Moscow Director of Center for Cantonese Dean, International Finance School of Economics, Moscow State Merchants Research, Guangdong Faculty, Financial University, Moscow, University, Russia University of Foreign Studies, China Russia [email protected] Prof. Alexander Melnikov Prof. Dmitry Sorokin Department of Mathematical and Chairman for Research, Financial MANAGING EDITOR Statistical Sciences, University of University, Russia Dr Zbigniew Mierzwa Alberta, Canada Prof. Robert L. Tang EDITORIAL BOARD Prof. George Kleiner Chancellor for Academic, De La Salle Deputy Director, Central Economics and College of Saint Benilde, Manila, The Dr Mark Aleksanyan Mathematics Institute, Russian Academy Philippines Adam Smith Business School, of Sciences, Russia The Business School, University Dr Dimitrios Tsomocos of Glasgow, UK Prof. Kern K. Kwong Saïd Business School, Fellow in Director, Asian Pacific Business Management, University of Oxford; Prof. Edoardo Croci Institute, California State University, Senior Research Associate, Financial Research Director, IEFE Centre for Los Angeles, USA Markets Group, London School Research on Energy and Environmental of Economics, UK Economics and Policy, Università Prof. Dimitrios Mavrakis Bocconi, Italy Director, Energy Policy and Development Centre, National and REVIEW OF BUSINESS Prof. Moorad Choudhry Kapodistrian University of Athens, AND ECONOMICS STUDIES Dept.of Mathematical Sciences, Brunel Greece University, UK (ROBES) is the quarterly peer- Prof. Stephen McGuire reviewed scholarly journal published Prof. David G. Dickinson Director, Entrepreneurship Institute, by the Financial University under Department of Economics, Birmingham California State University, the Government of Russian Business School, University Los Angeles, USA Federation, Moscow. Journal’s of Birmingham, UK mission is to provide scientific Prof. Rustem Nureev perspective on wide range of topical Prof. Chien-Te Fan Сhairman for Research of the economic and business subjects. Institute of Law for Science and Department of Economic Theory, Technology, National Tsing Hua Financial University, Russia CONTACT INFORMATION University, Taiwan Financial University Dr Oleg V. Pavlov Leningradsky prospekt, 53, Prof. Wing M. Fok Associate Professor of Economics and Director, Asia Business Studies, College System Dynamics, Department of Social office 5.6 of Business, Loyola University New Science and Policy Studies, Worcester 123995 Moscow Orleans, USA Polytechnic Institute, USA Russian Federation Telephone: +7 (499) 943-98-02 Prof. Konstantin P. Glushchenko Prof. Boris Porfiriev Website: rbes.elpub.ru/jour Faculty of Economics, Novosibirsk State Deputy Director, Institute of Economic University, Russia Forecasting, Russian Academy of AUTHOR INQUIRIES Sciences, Russia Inquiries relating to the Prof. George E. Halkos submission of articles can be sent Associate Editor in Environment and Prof. Thomas Renstrom by electronic mail to [email protected]. Development Economics, Cambridge Durham University Business School, University Press; Director of Operations Department of Economics and Finance, COPYRIGHT AND PHOTOCOPYING Research Laboratory, University of Durham University © 2019 Review of Business and Thessaly, Greece Economics Studies. All rights Prof. Alan Sangster reserved. No part of this publication Dr Christopher A. Hartwell Professor of Accounting (Business and President, CASE — Center for Social Management) at University of Sussex, UK may be reproduced, stored and Economic Research, Warsaw, or transmitted in any form or by any Poland Prof. Svetlozar T. Rachev means without the prior permission Professor of Finance, College of in writing from the copyright holder. Prof. Sebastian Jaimungal Business, Stony Brook University, USA Single photocopies of articles may Associate Chair of Graduate be made for personal use as allowed Studies, Dept. Statistical Prof. Boris Rubtsov by national copyright laws. Sciences & Mathematical Finance Deputy chairman of Department ISSN 2308-944X Program, University of Toronto, of financial markets and banks for R&D, Canada Financial University, Russia Вестник исследований бизнеса и экономики ГЛАВНЫЙ РЕДАКТОР С. Макгвайр, профессор, дирек- Д. Тсомокос, Оксфордский универ- А.И. Ильинский, профессор, декан тор Института предпринимательства ситет, старший научный сотрудник Международного финансо вого фа- Университета штата Калифорния, Лондонской школы экономики культета Финансового университета Лос-Анджелес (США) (Великобритания) ВЫПУСКАЮЩИЙ РЕДАКТОР А. Мельников, профессор Ч.Т. Фан, профессор, Институт Збигнев Межва, д-р экон. наук Депар та мента математических права в области науки и технологии, и ста тистических исследований национальный университет Цин Хуа РЕДАКЦИОННЫЙ СОВЕТ Университета провинции Альберта (Тайвань) (Канада) М.М. Алексанян, профессор Бизнес- В. Фок, профессор, директор по школы им. Адама Смита, Университет Р.М. Нуреев, профессор, научный исследованиям азиатского бизне- Глазго (Великобритания) руководитель Департамента эко- са Бизнес-колледжа Университета номической теории Финансового Лойола (США) К. Вонг, профессор, директор Инсти- университета тута азиатско-тихоокеанского бизнеса Д.Е. Халкос, профессор, Университет Университета штата Калифорния, О.В. Павлов, профессор Фессалии (Греция) Лос-Анджелес (США) Депар та мента по литологии и полити ческих исследований К.А. Хартвелл, президент Центра К.П. Глущенко, профессор экономи- Ворчестерского политехнического социальных и экономических иссле- ческого факультета Новосибирского института (США) дований CASE (Польша) госуниверситета Б.Н. Порфирьев, профессор, М. Чудри, профессор, Университет С. Джеимангал, профессор Депар- академик РАН, заме ститель Брунеля (Великобритания) тамента статистики и математиче- директора Института ских финансов Университета Торонто народнохозяйственного М. Шен, декан Центра кантонских (Канада) прогнози рования РАН рыночных исследований Гуандунско- го университета (КНР) Д. Дикинсон, профессор Департамен- С. Рачев, профессор та экономики Бирмингемской бизнес- Бизнес-кол леджа Университета Редакция научных журналов школы, Бирмингемский университет Стони Брук (США) Финансового университета (Великобритания) 123995, Москва, ГСП-5, Т. Ренстром, профессор, Ленинградский пр-т, 53, В.Л. Квинт, заведующий кафедрой Школа Бизнеса Даремского комн. 5.6 финансовой стратегии Московской университета, Тел. 8 (499) 943-98-02. школы экономики МГУ, профессор Департамент Экономики и Финансов Интернет: rbes.elpub.ru/jour Школы бизнеса Лассальского универ- ситета (США) Б.Б. Рубцов, профессор, Журнал “Review of Business and заместитель руководителя Economics Studies” («Вест ник Г. Б. Клейнер, профессор, член-кор- Департамента финансовых рынков исследований бизнеса и эконо- респондент РАН, заместитель дирек- и банков по НИР Финансового мики») зарегистрирован в Фе- тора Центрального экономико-мате- университета деральной службе по надзору матического института РАН в сфере связи, информационных А. Сангстер, профессор, технологий и массовых ком- Э. Крочи, профессор, директор по Сассекский университет муникаций 15 сентября 2016 г. научной работе Центра исследований (Великобритания) Свидетельство о регистрации в области энергетики и экономики ПИ № ФС77-67072. окружающей среды Университета Д.Е. Сорокин, профессор, член- Боккони (Италия) корреспондент РАН, научный Подписано в печать: 07.06.2019. руководитель Финансового Формат 60 × 84 1/8. Заказ № 554 от 18.03.2019. Д. Мавракис, профессор, университета Отпечатано в Отделе полиграфии директор Центра политики Финуниверситета и развития энергетики Р. Тан, профессор, ректор (Ленинградский проспект, д. 49). Национального университета Колледжа Де Ла Саль Св. Бенильды 16+ Афин (Греция) (Филиппины) Review of Business and Economics Studies Volume 7, Number 2, 2019 Heilongjiang Province’s engagement in BRI Song Linlin . 6 The role of financial globalization in the propagation of the world financial crisis Zharikov Mikhail . 22 World construction market Iliev Ben-Zion . 32 Perspective cryptocurrency projects supported by China Asadova Novrasta . 37 Prospects and risks of the development of Japanese cryptocurrency (monacoin) Asadova Shabinem Jabir kyzy . 45 Prospects for the development of cryptocurrency regulation in Singapore Shabatuk Julia . 48 Modern trends in innovative
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