Shift in Foreign Trade Priorities

DOI: 10.24412/2072-8042-2022-5-95-107

Author: Nikolay Andreevich SHKOLYAR,
Doctor of Economics, Professor , Professor, Institute of Latin America, Russian Academy of Sciences, Center for Economic Research, Leading Researcher
e-mail: interexpert@bk.ru

The imposition of unprecedented sanctions against Russia by the West, escalating into an aggressively unfriendly policy of the USA, Great Britain, the EU and their allies towards it, has a devastating impact not only on Russia, but also on the whole global economy. The strategy of its social and economic development, the tactics of foreign economic activity and the priorities of foreign trade are being rapidly reviewed. In these harsh conditions, it is important to foresee the degree of change in trade fl ows, to identify alternative markets for Russian products and the acquisition of necessary imports, i.e. to identify opportunities for expanding the existing and building new international economic relations in other regions of the world. Th is article analyzes the state of Russia’s foreign trade on the eve of the escalation of this situation, provides an expert assessment of the reduction in its imports and exports to the EU and the USA; an attempt is made to estimate the potential redirection of Russian trade fl ows towards. Asian countries, primarily China and India, and large Latin American states - Brazil and Mexico

Market Economy: Transformation Trends

DOI: 10.24412/2072-8042-2022-5-7-33

Authors: Valentina Vasilyevna ILJINOVA,
Candidate of Economic Sciences, Assistant Professor , Russian Foreign Trade Academy, Department of Management and Marketing, Professor
e-mail: vtn304@mail.ru
Viktor Aleksandrovich SIDОROV,
Doctor of Economic Sciences, Professor , Kuban State University, Department of theoretical economy, the Head
e-mail: sidksu@mail.ru
Yakov Semyonovich YADGAROV,
Doctor of Economic Sciences, Professor , Financial University under the Government of the Russian Federation, Department of the economic theory, the section «History of an Economic Thought», the Head
e-mail: yakovyadgarov@mail.ru

Diverse permanent quantitative and qualitative theoretical, methodological and scientifi c and practical components of the market economy phenomenon (alternative, in fact) in the past and present are considered and presented in this article in the context of the transformation trends determining its evolution. For an objective and unbiased achievement of this objective and the solution of urgent political and economic research tasks, the authors opted for such methodological tools as retrospective analysis, systematic and applied approaches to examine the key growth vectors and realities that inevitably accompany the transformation of various spheres and branches of the market economy. The main areas of the research carried out through the prism of the global complexity of the market economy phenomenon, were, fi rst, the historical and economic dimension of global transformation expectations in the market economy; second, the institutional concept of global technological solutions and their impact on the modernization of productive forces.
The key research results presented in the article led to a comprehensive political and economic analysis of the changes in the social and political and, above all, economic life of the post-socialist (post-Soviet) countries, which made it possible to identify the reproductive vectors of the market economy at the present stage of its evolution. The conclusions, generalizations and recommendations stated in the article focus on the evolutionary and institutional aspects of the market economy phenomenon with new adequate business models in the context of transformation trends that cause issues of global instability amid deterioration of overall political and economic conditions in the world.

Development of Alternative Energy in Russia and Chinese Experience

DOI: 10.24412/2072-8042-2022-5-34-45

Authors: Aleksander Nikolayevich ZAKHAROV,
Doctor of Economic Sciences, Professor , Russian Foreign Trade Academy, Department of World and National Economy, Professor
e-mail: azakharov@vavt.ru;
Alexandra Aleksandrovna KARPOVA,
Russian Foreign Trade Academy, Student of the Faculty of International Economists
e-mail: 1562sasha@mail.ru

The article is devoted to current trends in the development of alternative energy sources (AES) in the world, Russia and China in particular. The international roadmap for the implementation and use of clean renewable energy is subject to constant change due to the economic characteristics of the countries participating in the green transition and global geopolitical changes and uncertainty. Recently Western countries agreed to completely phase out Russian energy sources, first oil and then gas. To date, Russia and China have created a stable system of trade and economic cooperation in the energy sector. As for cooperation in the fi eld of renewable energy, it has recently been put on the agenda for cooperation between the two countries. Particular attention in this article is paid to the study of China’s experience as a leader in renewable energy implementation. The article also highlights China’s achievements in the fi eld of hydropower, electricity storage, introduction of electric vehicles, development of “green” fi nance and building international cooperation based on the improvement of nuclear technologies, since the methods used in their implementation could be successfully applied in Russia under current conditions. Thus, based on China’s green transition experience, the article aims to propose suggestions for the development of alternative energy in Russia as a country in the vanguard of international energy.

Export Orientation as an Indicator of Overcoming Russia’s Engineering Import Dependency

DOI: 10.24412/2072-8042-2022-5-46-57

Authors: Elena Leonidovna ANDREEVA,
Doctor of Economic Sciences, Professor , Ural State University of Economics, Department of World Economics and Foreign Economic Activities , Professor
e-mail: elenandr@mail.ru
Artem Vitalyevich RATNER,
Candidate of Economic Sciences , Institute of economics, the Ural Branch of RAS, Center for regional comparative studies , Senior Researcher
e-mail: ratner.av@uiec.ru

Amid heavy dependency of Russia’s economy on imported machinery, equipment and vehicles, some regional cases of export specialization or movement towards it are identifi ed. Statistical methods for analyzing data on machines in the 2010s were used: calculation of the share of imports in consumption; calculation of the ratio of imports and exports to domestic production of the country and regions. It is revealed that reduction of import dependency was observed immediately after the introduction of anti-Russian sanctions and intensifi cation of import substitution eff orts in 2015-2016. The areas for facilitating import substitution and export specialization are proposed.

Current Trends and Issues of Renewable Energy Development (the case of Spain)

DOI: 10.24412/2072-8042-2022-5-58-77

Author: Victoria Nikolaevna VORONINA,
Candidate of Economic Sciences , Russian Foreign Trade Academy, Department of World and National Economy , Assistant Professor
e-mail: vikavoronina@inbox.ru

Nowadays it is impossible to imagine life without energy. Every day people use diff erent electrical appliances and devices, new technologies appear that require even more energy. People are so used to electricity that they are unlikely to be able to live without it. Against this background, two pressing problems arise: the risk of non-renewable resource depletion and environmental pollution. Already some regions and countries are experiencing diffi culties with the environment, but so far the measures taken to save the environment are not enough to ensure that life and nature are not threatened. Besides, the scarcity of resources causes a rise in prices. As a result, it becomes very costly for some countries to acquire resources. Thus, alternative energy sources could be the solution to the issue.

Market Aspects of Renewable Energy in Russia

DOI: 10.24412/2072-8042-2022-5-78-94

Author: Vyacheslav Evgenievich ZAKHAROV,
Russian Embassy in Bangladesh, Embassy Offi cer
e-mail: vesy333@mail.ru

Th e article analyzes the state and prospects for renewable energy in Russia. Th e author demonstrates the main problems of Russia’s fuel and energy complex, which should in future become additional drivers of “green” energy growth: high energy intensity of the Russian economy, obsolescence of hydrocarbon production capacities, steady growth of electricity tariff s, environmental pollution. Particular attention is paid to the peculiarities of Russia’s renewable energy support system in both the wholesale and retail electricity markets. Th e process of integration of renewable energy sources (hereinaft er RES) into the structure of electricity production is assessed. Th e article contains statistical data illustrating the dynamics and structure of primary energy consumption in Russia between 2000 and 2020, and also shows changes in both the electricity production and the structure of installed power plants.

Quantifying COVID-19 Impact on International Trade of Newly Industrialized Countries (the Case of Singapore)

DOI: 10.24412/2072-8042-2022-5-108-119

Authors: Alexei Nikolayevich GORKOV,
The Russian Presidential Academy of National Economy and Public Administration , Student of the Department of National economy
e-mail: alexlugasov@gmail.com
Veronika Grigor`evna IORDANOVA,
Candidate of Economic Sciences , The Russian Presidential Academy of National Economy and Public Administration , Associate Professor of the department of national economy
e-mail: iordanova-vg@ranepa.ru
Marya Aleksandrovna SHAPOR,
Candidate of Economic Sciences , The Russian Presidential Academy of National Economy and Public Administration (RANEPA), Researcher,
e-mail: shapor-ma@ranepa.ru

The article presents a quantitative assessment of the eff ects of COVID-19 pandemic on Singapore’s international trade, particularly its exports. Exports were chosen as the main indicator characterizing the state of the country’s economy. The following variables were used as macroeconomic indicators to describe Singapore’s export changes by country: volume of imports, chained GDP, consumer price infl ation, employment rate among residents from 2010 to 2020. To combat the social and economic eff ects of the pandemic, as well as to achieve a long-term goal of keeping companies competitive and able to recover more quickly, the Government of Singapore presented four budgeting options: Unity, Solidarity, Sustainability and Resilience, with a combined implementation cost of S$93 billion. These activities were designed to off set the impact of the decline in employment and economic growth due to COVID-19 pandemic. Based on the above stated options, the macroeconomic indicators presented in the paper were selected. The regression equations allow to describe the changes in Singapore’s exports to various importing countries, including by country. According to the methodology proposed in the paper, it is also possible to predict the changes in the country’s exports by using growth curve models to forecast individual macroeconomic indicators, the values of which will change the resulting value of the entire equation.

The Role of Investment Promotion Agencies in the COVID Reality

DOI: 10.24412/2072-8042-2022-5-120-132

Author: Alexey Vladimirovich KUZENKOV,
Russian Foreign Trade Academy , Postgraduate Student of the Department of International Trade and Foreign Trade of the Russian Federation
e-mail: av95.kuzenkov@gmail.com

This article summarizes the impact of COVID-19 and the response of investment promotion agencies (IPAs) based on research done by the World Bank Group (WBG), the World Association of Investment Agencies (WAIPA), UNCTAD and the OECD. Th e economic crisis caused by the coronavirus pandemic was unprecedented. Th e study shows that many APIs moved to work remotely, keeping in close touch with investors and assisting with issues. Th e paper highlights priorities for investor support, including short- and long-term measures to mitigate the eff ects of the crisis.