Towards an Enhanced Institutional Structure of the Eurasian Economic Union

DOI: 10.33917/es-2.168.2020.102-111

This article considers how to enhance the institutional structure of the Eurasian Economic Union (EAEU) in order to enable timely decision-making and implementation of governance decisions in the interests of Eurasian integration deepening. We compare the governance structures of the EAEU and the European Union (EU) using the author’s technique and through the lens of theories of neofunctionalism and intergovernmentalism elaborated with respect to the EU. We propose to determine a major driver of the integration process at this stage (the College of the Eurasian Economic Commission or the EAEU member states), to reduce the number of decision-making bodies within the current institutional structure of the EAEU, and to divide clearly authority and competence of remaining bodies to exclude legal controversies in the EAEU

Structure of Economic Growth of the Countries of the Eurasian Union

DOI: 10.33917/es-2.168.2020.112-123

The purpose of the study is to determine the existing growth models of the countries of the Eurasian Union by GDP expenditures and sectors (manufacturing, transactional raw materials). The research methodology is a macroeconomic analysis of the dynamics of the main indicator of economic development — gross domestic product. The research method is a structural analysis that allows you to get a structural formula for calculating the contribution of each component of GDP to the growth rate, as well as a comparative analysis of the dynamics models of the countries in question — Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia. The result of the study is the obtained structural relationships that make it possible to measure the influence of the investment structure on the growth rate, the criteria describing economic growth with a corresponding change in the country’s national wealth, as well as the identification of models of economic dynamics by the countries of the Eurasian Union. It is indicative that the transaction sector dominates in Kazakhstan and Russia, while in other countries a mixed model is found, or industrial growth as in Belarus. According to the components of GDP and expenditures of the country, either a mixed or a consumer model is found (Kyrgyzstan, Russia), however, the contribution of government spending to the growth rate is provided only in Kazakhstan. It was also revealed that the reaction to the crisis of 2009 and 2015 was fundamentally different for the countries of the Eurasian Union. The search for the factor conditions of such a prevailing dynamics, as well as the influence of union economic relations on the formation of a growth model in each country, requires an expansion of research and an analytical perspective

Theories of Society and Risks of Its Development

DOI: 10.33917/es-2.168.2020.124-133

The article deals with various types of characteristics of society and its sphere of activity. Various types and groups of theories of society development are studied. It is revealed — what values are laid by scientific schools in the life of society. Global problems and contradictions, which are a brake and at the same time a stimulus for its development, are defined. The planetary scheme of interrelations and mutual influence of global risks for society is developed. The gradation of modern problems of society from risks with the indication of the main problems of social and economic character is carried out. The separate directions of development of society and tools which reduce emergence and development of risks for it are considered

European Company and European Cooperative Society as Forms of Supranational Business Organization in the European Union

DOI: 10.33917/es-2.168.2020.134-141

The present article analyzes the experience of creation and functioning in the European Union of such supranational forms of business organization as European companies (SE) and European cooperative societies (SCE). The author considers the main stages of developing legislative acts regulating the activities of supranational business structures; requirements for such companies; procedure for their establishment; opportunities provided by supranational status. The data on activities of European companies and cooperative societies is summarized. Possibilities of implementing the experience of European companies in the EAEU are analyzed

Contemporary Approaches to Economic Stimulation Using Financial Instruments

The Belarusian nuclear power plant near the city of Ostrovets, Grodno region, is being built taking into account new standards dictated by both global changes in global security requirements and the development of technology. Vitaly Polyanin, vice president and project director for the construction of the Belarusian NPP of ASE IC JSC (Engineering Division of Rosatom State Corporation) spoke about the final stage of large-scale Russian-Belarusian construction in an interview with ES magazine.

Global Challenges in Formation of a Polycentric World Order: Retro Trajectories and Trajectories of the Future

DOI: 10.33917/es-1.167.2020.28-35

Global challenges as the core of the processes of globalization and formation of a new world order provide direction and rhythm of transformation processes in all countries. The article dwells on a set of interconnected global challenges, their retrospective dynamics and future trajectories. Particular attention is paid to the place of Russia in global transformations. It was revealed that thanks to measures taken at all levels of management, positive dynamics have formed in relation to many challenges, but the progress is developing at the expense of ecology and safety. Critical for Russia is a fundamental science cost lag; with such a gap, we won’t be able to ensure defence, economic and technological security and will form the future for ourselves on the far reaches of the world progress

Russia and the EU: Dynamics and Structure of Trade Relations

DOI: 10.33917/es-1.167.2020.36-41

The traditional and most developed form of international economic relations is foreign trade. This article analyzes the dynamics and structure of Russia’s foreign trade with the EU countries in the period from 2011 to 2018. It should be emphasized that external challenges not of an economic but of a political nature have led to the disruption of economic cooperation between the Russian Federation and the EU, including in the field of trade, which underlines the relevance of this study. The purpose of this study is to identify the impact of sanctions and counter-sanctions on the dynamics and structure of mutual trade between Russia and the EU

Functioning of Russian Trade Representatives in the EU Countries in the Paradigm of Value Chains

DOI: 10.33917/es-1.167.2020.42-47

The article examines the nature of trade representatives abroad and their role in Russian exporters’ participation in value chains. To this end the author proposes a role model for functioning of the Russian trade missions, as well as analyzes operation of Russian trade representatives in some EU countries in the paradigm of value chains and proposes measures to increase trade missions’ efficiency in some EU countries. As part of the analysis, the author made use of analytical reports on the state of economy and the main directions of foreign economic activity, prepared by trade representatives, as well as analytical materials received from trade missions of the Russian Federation abroad

Impact of the US Federal Reserve Policy on Developing Countries

DOI: 10.33917/es-1.167.2020.48-52

The article analyzes the consequences of increase in FRS rates for developing economies. It is shown that even minor changes in this indicator significantly affect not only the direction of global financial flows, but also the growth prospects of developing countries. Therefore, it is necessary to take into account the influence of market expectations regarding direction of the US FED interest rate when formulating monetary policy, applying monetary control tools and developing proposals for macroeconomic decisions

Potential of Common Markets of the EAEU Energy Resources. Expectations and Challenges

On October 15, 2019, the President Hotel Hotel in Moscow hosted the Integration Eurasian Industrial Congress, a new international discussion platform for discussing current problems and prospects of industrial cooperation in the EAEU and the movement of industrial goods on the EAEU common market, as well as developing effective tools for the goal of effective integration and development of interaction of entrepreneurs in the EAEU and friendly countries. The keynote address was delivered by the Deputy Minister of Energy of the Republic of Belarus Vadim Zakrevsky, telling the participants of the Congress about the challenges that have emerged today in the field of creating electric and gas markets