The impact of technological change on modern economy

Author: Erosa V.E.

The paper examines the relationship between technology change, economic growth and economic development through structural analysis applied to macroeconomic variables, such as the increase in the value of GDP, the current trade balance and the formation of gross capital, giving an idea of the structural shift s in the economy associated with the use of digital technologies. The analysis is conducted on the example of 17 countries, which account for about 68% of the total value of world GDP. The results show a slight increase in world GDP refl ecting positive absorption of the above-mentioned technological changes. An analysis of the eff ectiveness of the formation of gross capital for each country as a result of changes in the value of GDP and its structure is presented. As a result, there is a gap between the results of the creation of value and the advantages of economic development that the country receives from possessing new technologies. The key conclusion of this study is that the amounts of value produced in the economy are infl uenced by technological changes resulting from implementation of innovations and their distribution in the country. The existence of a non-linear relationship between technological changes and economic growth is revealed.

Special economic zones of Africa: a promising direction for Russian business

Author: Myagkov V.Y.

One of the essential objectives of Russian export promotion is to search for new partners and channels to cooperate with them. Th e African countries may be considered as the promising foreign trade partners of Russia but still Russia’s trade turnover with these states is relatively low. However, cooperation with the African countries is signifi cantly restrained by the extremely limited Russian business presence on the continent. One of the ways to solve this problem might be special economic zones (SEZs) located in diff erent regions of Africa. In this regard, the article considers the most promising special economic zones of the African continent in terms of expansion of Russia’s exports to Africa – the SEZs of Gabon, Togo, Mauritius and Djibouti. Th ese zones off er favorable conditions for residents’ business activities and could become regional «outposts» for increasing Russian exports to the African countries.

From export of raw materials to processed products export: the example of Russian sunfl ower oil market

Author: Borodin K.G.

The article analyzes the main trends, problems, factors and prospects for export growth of agri-food products based on the example of the sunfl ower oil market, as well as the factors that facilitate the transition of the industry from export of raw materials to processed products export. Introduced in 2001, the export tax on raw materials contributed to a gradual decline in commodity exports and an increase in domestic production, as well as exports of sunfl ower oil. Heavy demand among the population, on the one hand, and strong competition between large companies, on the other, create the necessary conditions for sustainable development of the industry. Th e prospects for sunfl ower oil exports depend mostly on the vast and rapidly growing markets of China and India

Foreign trade of Germany

Authors: Zakharov A.N., Starovaya Y.A.

Germany is one of the most developed countries in the world, which is actively engaged in foreign trade. Th e article analyzes the foreign trade of Germany and assesses the role of this country in the world economy. First of all, the analysis of its competitive advantages, contributing to the superiority of Germany in the world market, is made. External relations play a key role in the economic life of the country. Th e most important trading partners of Germany are the industrial countries of the West. Due to the ongoing process of economic integration of the EU countries, the European market is target for Germany. Germany specializes on exporting goods of machine-building and electro technical industries, as well as the products of the chemical and manufacturing industries, and imports products of machine-building and electro technical industries, as well as mineral fuel and raw materials. Th e article also describes the latest indicators of trade between Germany and Russia. Th e analysis of export-import indicators of both trade relations between Russia and Germany and changes in the total volume of exports and imports of the two countries leads to the conclusion of a high mutual dependence of the economies of the two countries

Russia’s participation in international food trade

Authors: Bartenev S.A., Burenin V.A., Oreshkin V.A., Orlova G.A., Skurova A.V., Taranovskaya E.V.

In the article, the authors consider the growth of Russian exports of food products and agricultural raw materials for their production. Russia’s export potential in the production and export of food products is analyzed. Th e rapid expansion of exports with the growing specialization of exports, in particular in the supply of cereals, fi sh and fats, is noted. Th e major trading partners are the countries of Asia and the states of the Middle East. Th e authors underline the initiative of private farmers to develop the production of traditional and exotic products for export, in particular berries, oysters and other products.

BRICS mutual trade: potential and development patterns

Authors: Revenko L.S., Revenko N.S.

Ensuring stable economic growth of the BRICS countries implies the expansion of mutual trade. The article considers the evolution of BRICS member states’ approaches to the development of mutual trade, identifi es the factors affecting the growth of goods turnover. The common position of BRICS countries on global trade policy, their support for the existing rules of the multilateral trading system with the WTO central role, is noted. The potential, dynamics and commodity structure of mutual trade from 2011 to 2017 are analyzed. The volumes of the mutual trade have been modest but show a steady upward trend with a relatively diversifi ed commodity structure. China’s goods exports to the BRICS countries are the most diversifi ed, to a lesser extent its imports.

Singapore: Export structure of Telecom equipment

Author: Rimkevich S.V.

The article deals with the structure of Singapore’s exports of Telecom equipment. Singapore has evolved from a regional centre for processing of agricultural and mining industry products’ from South-East Asian countries into a technology and fi nancial centre of global importance. The country stands out among other South-East Asian countries in terms of technology development and quality of telecom services. The author analyzes the key factors that infl uence the structure and dynamics of Singapore’s exports; identifi es the main groups of export goods of telecom equipment and their share in the total exports of the country; specifi es the main Singapore trading partners. The author draws conclusions about the advantages of Singapore’s open economy with the maintenance of national production by government support and development program for ICT industry

Aircraft sales trends in the global market

Author: Nikitenko A.A.

In the article, the author considers the main areas of interfi rm competition in the general aviation aircraft market, reveals market shares of exporting countries, notes the dominance of two major aircraft manufacturing companies in the market - Boeing (USA) and Airbus (EC), and the emergence of new competitors, in particular from Canada, Brazil, China. Special attention is drawn to the importance of ensuring the competitiveness of products in the market rivalry, noting the need to maintain competitive advantage in technology, high quality technical service and the choice of the most advantageous terms of delivery. Particular emphasis is given to the loan terms for aircraft purchase.

Private equity funds for Foreign Direct Investment

Author: Mirzoyan M.O.

In the article, the author examines private equity funds as the possibility to conduct investment operations on foreign markets and underline the diff erence between this form of foreign direct investment and venture investment. Forms and features of private equity investments are considered: to launch a new business; at the initial stage of the operation of the enterprise (in fact, venture capital investment); to develop and improve the activities of the enterprise with a minority participation in its capital (not giving the right to control); to purchase a controlling stake with a view to restructuring the company.

Development trends and investment attractiveness of the IT industry in Ukraine

Author: Churuta I.M.

In the article, the author analyzes the development trends and investment attractiveness of the IT industry in Ukraine. Th e research reveals that over the past few years there has been a signifi cant increase in export volumes of the Ukrainian IT sector and the number of specialists employed in it, which in turn plays a signifi cant role in the high level of investment attractiveness of the industry. Based on the analysis of the current potential and future prospects for the IT sector in Ukraine, the author draws a conclusion about its favourable development and identifi es 3 main areas for investment: investments in outsourcing, start-ups and in the production of gadgets

Development in the fi eld of outsourcing in Russia and abroad

Author: Zolotareva S.E.

The current state of the economy is characterized by the growing globalization and intensive dissemination of information technologies, which in the short-term period could radically change the methods of providing services. Knowledge of history and trends will allow outsourcers to respond for changing market requirements more effi ciently and quickly and will facilitate the development of entrepreneurship in the fi nancial outsourcing sphere. The article presents the results of studying history, analyzing the current state and prospects of entrepreneurship development in the fi nancial outsourcing sphere in Russia and abroad.