World economy

The basis of the analysis of global trends in the world energy

Authors: Zakharov V.E., Simonova M.D.

On the basis of economic and statistical data analysis of the International Energy Agency, the International Monetary Fund, the International Renewable Energy Agency (IRENA), the US Energy Information Department, Statistical Yearbook «BP» and others the dynamics of the global energy consumption structure was studied in order to identify emerging trends in the world energy and ways of development of the basic sectors of the global fuel and energy sector (oil, gas and coal industry, nuclear, renewable energy). Consumption confi gures the demand for energy resources, which in turn determines supply on the global energy markets where the mounting competition between the major producers of hydrocarbons has resulted in a sharp drop in oil prices (the price of Brent crude oil in June 2014 - $ 111.7 per barrel; October 2016 - $ 51,91 per barrel). This uneven distribution of hydrocarbon reserves, the growing demand for that (in particular from developing countries) and environmental risks associated with the production and consumption of fossil resources led to the growing interest in renewable energy in many countries developing a set of measures to create low-carbon economies. That in practice means implementation of the plans to increase the share of renewable energy in the energy mix, increase energy efficiency and reduce greenhouse gas emissions.

Possible Ways to Use Spanish Experience in Regional Policy for Russia

Authors: Zakharov A.N., Seredinskaya K.S.

In the article different ways of modernization of the Russian Regional Policy are considered. Present day Russia suffers a lot from regional polarization. For the last 16 years it has reduced insignificantly, and even grown according to GRP per capita. At the same time Spanish experience is more successful, though the country also suffers from regional disparities. According to the authors it can be useful to consider Spanish case in order to use some aspects in Russian realities. For example, establish bodies, which would develop cooperation between different levels of administration and between regions, and also would help to solve territorial problems promptly and more effective.

Integration challenges in the Post-Soviet space within the EAEU

Authors: Tkachenko I.Y., Sharyikina Y.V.

The article is devoted to the current cooperation within the Eurasian Economic Union (EAEU). The data on foreign trade, mutual investment flows and movement of the labor force represents the current macroeconomic situation in the countries of the Union. The achieved level of cooperation does not allow to take advantage of synergies. However, the cooperation issues might be settled through increased mutual involvement in the economic processes within the Union. The explicit challenges of the initial phase of the integration considerably decelerate enhancement of the economic cooperation within the EAEU, but they can be significantly mitigated subject to recognizing the need for such cooperation and political will of the EAEU Member states.

Swiss watch industry: view from inside

Author: Drobnitsa I.K.

External indicators of success enjoyed by Swiss watches in the world are highly recognized and do not need additional advertising. The article attempts to examine the internal components of the success, so called “ins and outs” of the sector. The article provides a fairly thorough description of the place and role of the watch industry in the economy and Switzerland’s exports. The latest statistical information on the total number of enterprises and employees in the sector, as well as the structure of the national watch industry on specific areas of business and forms of organization of production activities are presented. The recent data on the most important centers of watchmaking in the confederation is given. Besides, the author analyzes the company structure of the Swiss watch industry. Herein the information about the main watch consortiums in the country, their key production units, as well as the data on the main financial performance is provided.

Investment activity

Use of Chinese foreign direct investment in the Russian economy

Authors: Kuzina E.Y., Troitskaya O.A.

In the process of globalization of the world economy, foreign investment has played a no less important role than international trade in goods and services. In today’s world, virtually any country is involved in the processes of international investment cooperation. It is axiomatic that sustainable economic development is impossible without effective participation in global economic processes, in particular without intensive involvement of foreign direct investment (FDI). The article reviews the main directions in the use of China’s foreign investments in the Russian economy. Besides, the possibilities to regard China as a strategic partner of Russia and prospects for mutual involvement in each country’s economy are considered.

Financial problems

Current aspects of trade finance in the global market

Author: Baboshkina A.A.

Trade finance is a key factor for assuring the competitiveness and efficiency of world trade. Despite the current political and economic risks thanks to the emerging markets the world trade is expected to grow about 2,8 % by 2017. Foreign trade participants usually use the trade finance instruments for the timeous payments and risks coverage. The article clarifies the trade finance definition, describes basic exporter and importer instruments for the risks coverage, discovers leading banks in this regard, shows the germinal and sectors trends, and obligator default statistics.

Growing role of speculative capital in China’s financial system

Author: Zelenuk A.N.

The role of China in the world economy has being rising in recent years, with its exports growing rapidly and increasing gold and foreign exchange reserves. The exchange rate of the national currency has been at a relatively high level for many years, which attracted the currency speculators to the markets. The country consistently received large sums, while growing and flows associated with the capital exports by Chinese companies. The inclusion of the yuan in the SDR basket of reserve currencies has significantly increased its attractiveness, against which the bulk of currency speculators began to play. The devaluation of the yuan reduced the interest in speculation, but did not stop the capital inflows and outflows having forced the Chinese government to develop the tax on speculative capital inflows.

BEPS Plan: new rules of transfer pricing administration

Authors: Gorovoy E.V., Yartseva N.M.

The article deals with the basic provisions of Base Erosion and Profit Shift ing Plan (BEPS Plan) and examines what ramifications its implementation will have. The provisions of the Final Report on BEPS Actions 8-10, which deal with transfer pricing issues, are thoroughly analyzed. It is pointed out that the most important revisions of the OECD Transfer Pricing Guidelines (2010) refer to the application of the arm’s length principle, transactions with intangible assets and commodities, transfer pricing rules for intra-group service arrangements and transactional profit split method. The article presents a classification of intra-group services for tax control purposes.

Research reviews

System approach to production cooperation management in automotive industry

Authors: Kurganov Y.A., Medvedev V.P.

The conceptual basis of industrial cooperation management in automotive industry along with the principles of elaboration of its efficiency evaluation methods are reviewed in the article based on the implementation of system-situational analysis of the global automotive market. Analysis of the international industrial and technological cooperation on designing, developing and manufacturing of the intermediate products from the system management point of view enables the authors to outline the key functional and management elements of the modeled system.

Innovative development in pharmaceutical companies

Author: Petrov A.M.

Innovations in pharmaceutical companies are one of the key factors in their competitiveness nowadays. Primarily, company’s growth depends on modernization of the system with administrative and technological innovations, the efficiency of which might be low unless the business processes and staff qualifications correspond to the technologies’ development level. The article deals with the basic stages and periods of the innovation cycle’s development, and outlines the main functions of the innovation management in the pharmaceutical companies. The crucial principles and the evaluation sequence of the innovative activity management effectiveness of the pharmaceutical companies are analyzed.


10 - 2016

Older Issues:


© 1999-2016, - Russian Foreign Economic Bulletin
Address: 119285, Russia, Moscow, Pudovkina st, 4а
Phone.: +7 (499) 143-12-35; Fax: +7 (499) 783-02-63