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International Trade and Trade Policy

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No 1 (2018)
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WORLD ECONOMY AND INTERNATIONAL ECONOMIC RELATIONS

135-142 1417
Abstract

Due to increasing interest around the world about crypto-currency there is a growing need among authorities for understanding the approaches to regulate the new phenomenon. Analysis of international experience in the regulation of crypto-currencies and other cryptoactive assets shows that regulators are now trying to reduce the risks associated with the violation of public interests - the risks of erosion of the tax base and money laundering and terrorist financing. The article provides information on the approaches of the EU, the US and other OECD countries to the regulation of crypto-currencies and other crypto assets, as well as possible proposals for regulators in Russia. 

143-154 598
Abstract

The article addresses the problem of identifying non-tariff barriers for businesses at external market, that has become more significant over the last few decades. The analysis of three major approaches to identifying non-tariff barriers –analysis of official reports, online survey and direct interview of exporters – revealsthe advantages of the latter. However, the reliability of data obtained from a survey crucially depends on the solution of various problems including the compilation of barrier list that the survey participants would use to respond. The experience of the existing studies shows that theUNCTAD classification of non– tariff measures is the one most frequently used.Building on the outcome of trial surveys, the authorsfind some disadvantages of applying this classification intactas this may distort the survey results. To solve this problem, the authors propose criteria for a barrier list and, finally, propose a modified list of barriers for company and enterprise surveys based on the UNCTAD classification. 

ECONOMIC INTEGRATION

7-14 761
Abstract

The article examines the impact of some macroeconomic indicators, such as added value in industry, R & D expenditure, average crude oil price, on the export change for the EAEU member countries. For the study the authors used the open statistical databases of the International Monetary Fund, the United Nations Conference on Trade and Development (UNCTAD), the World Bank, as well as the statistical offices of the EAEU member countries for the period from 2004 to 2017. Using correlation analysis, the authors establish a connection between the indicators and use them to construct a three-factor regression model. It is shown that the change in exports in a sufficiently high degree depends on the fluctuations in the values of the selected indicators. The authors also analyze the development of the EAEU countries through the dynamics of the gross domestic product, exports, imports, trade turnover and foreign direct investment for the study period, showing the value of exports in the final indicator through a change of its share in GDP and comparing the EAEU states both among themselves and with similar indicator of the leading economically developed countries. 

15-32 604
Abstract

The Eurasian Union plans to reach a new level of economic cooperation, and not be restricted to interact only with the individual member states. For this purpose, the Eurasian Union intends to initiate the establishment of a long-term and stable relationships with major integration associations in the world. The assessment analysis found the economic effects of possible cooperation of the Eurasian Union with megaregional structures and taking into account the applicability in the context of the prospects for the «Big Eurasian Partnership» the project shows that in working through various options for cooperation should be taken into account a variety of factors, ranging from issues of tariff regulation to foreign situations, concerning certain countries, integration associations. Priority for identifying potential partners for cooperation given to economic and trade associations with a high degree of costoriented integration. For assessment of the economic effects of a possible cooperation of the Eurasian Union with megaregional structures was used the gravity model to identify the sensitivity of imports to changes in tariff policy, and an analysis of the competitive advantages of production of the Eurasian Union countries was conducted with competitiveness index. 

33-49 936
Abstract
The article describes the reasons of participation of less developed countries in the world integration processes, initiated by developed and newly industrialized countries in conditions of intensification of geopolitical and geoeconomic risks in the modern world economy, possible directions of cooperation between them are determined. The assessment of mega-regionality of integration blocks, of their ability to carry out inter-block cooperation and economic integration is given. The state of trade and economic cooperation of the EAEU with integration associations (EU, ASEAN, APEC, SCO), mega-blocks (CETA, RCEP) and their participating countries for the period 2010-2017 is analyzed. On the basis of this features and tendencies of development of trade of the Eurasian Economic Union with the mentioned integration groups are distinguished, the potential benefits of the EAEU participation in the global and mega-regional integration processes initiated by the countries-leaders of integration agreements, as well as from trade and economic cooperation with them, and threats to the Union in general and to the participating countries is defined. The priority directions and algorithms of development of trade and economic cooperation of the EAEU with the considered integration blocks in the format «block – block» and «block – country» are noted, the basis of which is the determination of points of entry – countries and entry goods.
50-66 904
Abstract

The article considers tendencies, peculiarities and problems of formation of geographical, commodity, industrial structure of export and import of goods, by the degree of their technological intensity (manufacturing), between the Eurasian Economic Union (EAEU) and regional integration groups, Association of Southeast Asian Nations (ASEAN), European Union (EU) and Shanghai Cooperation Organization (SCO). The analysis was conducted using UNCTAD statistics on the digit commodity codes of the International Standard Trade Classification (SATC). The directions of trade diversification are offered. The countries for access of the EAEU to the markets of manufactures of ASEAN, EU and SCO are selected. Positive changes in the structure of trade, especially with ASEAN as well as the SCO, are noted. On the basis of calculation of index of intra-industry trade the sensitive goods are allocated, in trade by which EAEU competes with integration groups, the directions of development of industrial cooperation and inclusion in Global Value Chains (GVC) are offered. The presence of a large number of sensitive positions in trade with China, India, Poland, Great Britain, France, Vietnam, Singapore is noted. Prospective export products have been identified into these integration groups, recommendations to reduce barriers to trade have been developed. 

67-84 600
Abstract

The constantly growing competition in world markets is accompanied not only by the strengthening of the economic influence of certain countries – regional leaders, but also by the frequent clash of those countries that are struggling to gain regional or global leadership in foreign trade. Developing countries, meanwhile, are becoming the epicenter of competition, but due to inadequate economic development, underdevelopment of financial institutions, global dependence on raw materials, technological backwardness, they try to resist the competition of world powers through integration with large regional countries. Despite the fact that attempts to regional economic integration of developing countries do not lead to significant success, however this does not affect the creation of new and expansion of existing integration associations. Understanding the importance of this task, especially the role of individual regional integration groupings in geopolitical and geoeconomic relations, in the aspect of determining priorities and areas of cooperation, the article analyzes the comparative advantages of foreign trade of a number of integration groupings and assesses the ways and opportunities for developing their relations with the EAEU countries. 

85-97 582
Abstract

Over the past decade, the importance of so-called collective investments has grown in the world economy, especially in OECD countries. Such investments are made through investment companies, mutual funds, fund and investment trust companies. OECD member countries have formed a unified system for regulating collective investment, the purpose of which is to create common investment conditions for all member countries of this organization. This article studies the evolution of the geographical distribution of various forms of international capital flows, from the point of view of deepening regional cooperation, as well as their structural features, which can serve as a basis for assessing the effectiveness of capital investments and the features of economic development in individual regions, particularly in the EАEU countries. 

98-111 528
Abstract

At the turn of the 20th and 21st centuries, the global economy has acquired a new powerful development factor in the form of private remittances due to international labor migration, mainly from developing countries. Remittances represent an important source of external financing for households, particularly in developing countries, and thus can measure the economic contribution of large industrialized countries to poorer countries in terms of financial flows, and the dependence of poorer countries on this kind income. In some countries of the EAEU, economic growth as well as advances in poverty reduction are closely intertwined with trends in the dynamics of migration and remittances from abroad. In order to identify the role of remittances in the EAEU countries, as well as in the main countries of other regional economic associations, the article analyzes the dynamics of transfers and their impact on the economies of countries. 

112-123 1792
Abstract

The indispensability, features, tendencies, and problems of formation of the unified market of services of the EAEU are determined in the article. The relevance of the topic is related to the need to expand the export of services by the EAEU member countries and to determine the potential of the integration union in the event of the formation of a unified market of services. The subject of the research is market of the services of the EAEU member countries. The purpose of the study is to identify the features and opportunities for the advantages of exporting countries, taking into account the definition of strategic specializations of the EAEU member countries, the regulatory regime and modes of supply services, advantages of formation the unified market EAEU. Scope of the results development and implementation of strategic directions for the formation of a unified market for services of the EAEU countries with a view to entering the global service market and expanding the potential for intra-regional export of services. 

124-134 602
Abstract

Today knowledge and information have become accessible to a larger number of people than ever before in the history of mankind. Along with the provision of new and broad opportunities, this circumstance harbors a high risk. The exchange of knowledge and technology requires effective management, in which unprecedented changes will occur both in the global economy in general and in individual countries, mainly those that can competently regulate the processes of acquiring and disposing of these resources. Information and telecommunication technologies are the axis of the modern technological revolution. The future of countries, businesses and people is more than ever related to whether they will be able to use digital technology or not. This article examines the readiness of the EAEU member states and countries of other regional economic unions to use new technologies and convert digital technologies into capital, which allowed to reveal the comparative advantages in the aspect of technological readiness of each regional union. 



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ISSN 2410-7395 (Print)
ISSN 2414-4649 (Online)