emanagE-ManagementE-Management2658-34452686-8407State University of Management10.26425/2658-3445-2025-8-1-55-69emanag-504Research ArticleУПРАВЛЕНИЕ: ТЕНДЕНЦИИ И ПЕРСПЕКТИВЫMANAGEMENT: TRENDS AND PROSPECTSПравовое регулирование и анализ эффективности менеджмента в области международного инвестиционного сотрудничества на рынке капитала в свободных экономических зонах ближнего зарубежьяLegal regulation and analysis of management effectiveness in the field of international investment cooperation in capital market in free economic zones of neighbouring countrieshttps://orcid.org/0000-0002-2764-9542БезиковаЕ. В.BezikovaE. V.

Екатерина Витальевна Безикова, канд. юрид. наук, доц.

каф. финансового права

Москва

Ekaterina V. Bezikova, Cand. Sci. (Jur.), Assoc. Prof.

Financial Law Department

Moscow

Kathy_Bezikova@mail.ruhttps://orcid.org/0000-0003-2478-0307МихайловА. Ю.MikhaylovA. Yu.

Алексей Юрьевич Михайлов, канд. экон. наук, вед. науч. сотр.

Москва

Alexey Yu. Mikhaylov, Cand. Sci. (Econ.), Leading Researcher

Moscow

alexeyfa@ya.ruРоссийский государственный университет правосудия имени В.М. ЛебедеваРоссияLebedev Russian State University of JusticeRussian FederationИнститут Китая и современной Азии Российской академии наукРоссияInstitute of China and Contemporary Asia of the Russian Academy of SciencesRussian Federation202503042025815569Copyright © Безикова Е.В., Михайлов А.Ю., 20252025Безикова Е.В., Михайлов А.Ю.Bezikova E.V., Mikhaylov A.Y.This work is licensed under a Creative Commons Attribution 4.0 License.https://e-management.guu.ru/jour/article/view/504

   Эта работа представляет собой комплексное исследование международного инвестиционного сотрудничества и концепции эффективности инноваций на рынке капитала в свободных экономических зонах (далее – СЭЗ) и их роли в современном мире. СЭЗ являются новыми центрами компетенций в различных социально-экономических и производственных сферах, способствуя развитию международного инвестиционного сотрудничества. В условиях современных рыночных отношений они могут стать катализатором структурных преобразований, стимулируя инновации, привлечение капиталовложений и обмен технологиями. Так, в условиях глобальной экономической трансформации и усиления конкуренции за технологическое лидерство СЭЗ становятся ключевым инструментом стимулирования инноваций и привлечения инвестиций. Финансовая деятельность, являясь ключевой сферой экономики, не только обеспечивает стабильность и устойчивость хозяйствующих субъектов, но и выступает драйвером инноваций, которые критически важны для повышения конкурентоспособности, оптимизации ресурсного управления и адаптации к глобальным вызовам, таким как цифровизация и санкционное давление. Анализ правовых моделей СЭЗ в странах Содружества Независимых Государств демонстрирует их разнонаправленность. В Российской Федерации, например, акцент сделан на промышленно-производственных зонах, где льготы увязаны с локализацией производств. В Китае, напротив, доминируют инновационно-технологические кластеры, предлагающие гранты на научно-исследовательские и опытно-конструкторские работы и упрощенную миграцию кадров.

   This article is a comprehensive study of international investment cooperation and concept of the effectiveness of innovation in free economic zones (hereinafter referred to as FEZ) and their role in the modern world. The FEZ represent new centres of competence in various socio-economic and industrial spheres, contributing to the development of the international investment coope ration. In modern market conditions, they can become a catalyst for structural transformation, stimulation of innovation, attraction of capital investment, and technology exchange. Thus, in the context of global economic transformation and increased competition for technological leadership, the FEZ are becoming a key tool for stimulating innovation and attracting investment. Financial activity, being a key area of the economy, not only ensures the stability and sustainability of business entities, but also acts as a driver of innovations that are critically important for increasing competitiveness, optimising resource management, and adapting to global challenges, such as digitalisation and sanctions pressure. The analysis of legal models of the FEZ in the countries of the Commonwealth of Independent States demonstrates their multidirectionality. In the Russian Federation, for example, the emphasis is on industrial production zones, where benefits are linked to the localisation of production. In contrast, China is dominated by innovation and technology clusters, offering research and design grants and simplified staff migration.

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The authors declare that there are no conflicts of interest present.