Global Value Chains and Their Importance for National EAEU Economies Development

#5-6. Five Scenarios for a Century
Global Value Chains and Their Importance for National EAEU Economies Development

The article examines the possibility of increasing the share of economic entities of the EAEU countries in global value chains (GVC) formation; it indicates that in the form in which the GVC are recommended by OECD and WTO experts, they meet the requirements of exclusively monopolar configuration of the world economy, where the leader is the USA. The paper considers the possibility of introducing GVC onto the territory of the EAEU countries on the basis of the possibility of full resource provision and the aim of realizing national interests of the economic structure optimization under the oil prices fall as a national interest. Attention is focused on the fact that national economies’ participation in GVC should be accompanied by increase of their controllability, by solving their development problems even under stringent conditions of the world economic situation. Permissible dependence on external factors due to participation in the GVC should be calculated and should be levelled by the state regulation possibilities (and sometimes by direct control) and compensated (in an emergency) by internal resource potential in case of foreign counterparties failure to fulfill their obligations. This does not exclude feasibility of regulating business and investment climate in order to increase its attractiveness for both domestic and foreign counterparties. Optimization of foreign direct investment process and international economic cooperation should be aimed at the EAEU real sector development.

Devaluation and its Impact on the Russian Economy: a View Through the Foreign Trade Prism

#6-7. 100 Years of War: The Point of Beginning
Devaluation and its Impact on the Russian Economy: a View Through the Foreign Trade Prism

The article analyzes problems of Russia’s participation in international economic relations. It dwells on different aspects of Russian external economic policy and the experience of several countries, including oil exporters, in supporting their national economy. The paper analyzes rouble devaluation occurring in 2013–2014.