DOI: 10.33917/es-4.202.2025.50-59

The author draws attention to the fact that many international organizations consider it necessary to abandon the term “developing countries.” Reason for this is because countries outside the developed world do not represent a homogeneous group. The number of former developing countries that managed to enter in the group of developed countries is extremely small. The article examines the development factors that contribute to such transition, as well as two approaches to sustainable development: resilience and sustainability. The author states that there is no rational recipe for national success, and successful development is more a matter of art than rational knowledge. He also examines six country cases — the most successful developing countries according to the World Bank. In the end, the author comes to conclusion that modern technological progress makes building a model of the developing world’s future very difficult.

References:

1. Time to stop referring to the “developing world”. World Bank Blogs, January 23, 2024, available at: https://blogs.worldbank.org/en/opendata/time-stopreferring-developing-world

2. Is the term ‘developing world’ outdated? World Economic Forum, Nov 19, 2015, available at: https://www.weforum.org/stories/2015/11/is-the-termdeveloping-world-outdated/

3. Developing country: an outdated term in The Lancet. The Lancet, Sept 14, 2019, available at: https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(19)31098-0/fulltext

4. Oscar Abraham Raya López. How are countries classified according to their level of development? Mexican Center for International Relations, June 24, 2022, available at: https://cemeri.org/ru/enciclopedia/e-clasificacion-nivel-desarrollo-paises-fv

5. Spisok naimenee razvitykh stran [List of Least Developed Countries]. OON, available at: ht tps://www.un.org/ru/development/ldc/list.shtml

6. Top Five Fastest-Growing Economies in 2024. Euromonitor International, October 6, 2024, available at: https://www.euromonitor.com/article/top-fivefastest-growing-economies-in-2024#:~:text=Out%20of%20the%20world’s%2062,%2C%20Vietnam%2C%20Indonesia%20and%20China

7. Three hundred years of applied sustainability in forestry, available at: https://www.research-collection.ethz.ch/bitstream/handle/20.500.11850/154087/1/eth-7348-01.pdf

8. The overall performance of all 193 UN Member States. SDR, available at: https://dashboards.sdgindex.org/rankings

9. The turbulent world of resilience: interpretations and themes for transdisciplinary dialogue. Springer Nature Link, available at: https://doi.org/10.1007/s10584-018-2358-0

10. ZOE, the Institute for Future-Fit Economies [Website]. ZOE, available at: https://zoe-institut.de/en/home-2/

11. The Economic Resilience Index, available at: https://zoe-institut.de/wpcontent/uploads/2023/09/Economic_Resilience_Index_Final-1.pdf

12. Knuth K. The term “resilience” is everywhere — but what does it really mean. Ensia, available at: https://ensia.com/articles/what-is-resilience/

DOI: 10.33917/es-1.199.2025.44-49

The purpose of the present study is to identif y the specifics of using the world capital market by developed and developing countries in modern conditions. It has been established that the interests of developed countries consist in shaping a controlled international financial market that will ensure long-term and low-volatility returns on assets without taking into account the interests of other entities in the global capital mark et. The interests of countries with developing economies are reduced to ensuring maximum return on assets in the shor t-term period, since in the long term they cannot compete with developed countries in the global financial mark et. Based on econometric calculations, it was made an assessment of the effects of growing investment returns in developed and developing countries due to the presence of competitive advantages in the global capital market. It is concluded that the global capital market is used by developed and developing countries in different ways — the former seek to ensure preservation of their privileges through exploiting global imbalances, the latter — to gain access to borrowed capital in order to stimulate their own economic development. Disproportions in the use and regulation of the global capital market lead to dependent position of developing economies, which is why they are striving to transform the global financial architecture to protect their own national interests.

References:

1. Vinokurov E.Yu., Grichik M.V. Novaya kontseptsiya mezhdunarodnykh rezervov: bezopasnost’, diversifikatsiya, neortodoksal’nye podkhody [New Concept of International Reserves: Security, Diversification, Unorthodox Approaches]. Voprosy ekonomiki, 2022, no 12, pp. 24–43.

2. Voskanyan M.A., Khurshudyan S.E. Kontsentratsiya kapitala v global’noy ekonomike kak faktor neravnomernogo raspredeleniya dokhodov [Concentration of Capital in the Global Economy as a Factor in Unequal Income Distribution]. Sovremennaya mirovaya ekonomika, 2023, vol. 1, no 2(2).

3. Golovnin M.Yu., Nikitina S.A. Sovremennye tendentsii dinamiki mezhdunarodnykh potokov kapitala [Current Trends in the Dynamics of International Capital Flows]. Mir novoy ekonomiki, 2018, no 12(4), pp. 46–56.

4. Kuznetsov A.V. Kontseptual’nye podkhody k formirovaniyu ustoychivoy mirovoy valyutno-finansovoy sistemy [Conceptual Approaches to Formation of a Sustainable Global Monetary and Financial System]. Finansy: teoriya i praktika, 2023, no 27(4), pp. 164–172.

5. Bulatov A. Kuda dvizhetsya mirovoy kapital [Where is the Global Capital Heading?]. Ekons, available at: https://econs.online/articles/opinions/kudadvizhetsya-mirovoy-kapital/

6. FDI income by counterpart area, BMD4. OECD, available at: https://www.oecd.org/

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8. Nesterov I.O. Rezervnye valyuty — istochnik nestabil’nosti mirovoy valyutnoy sistemy? [Reserve Currencies — a Source of Instability in the Global Monetary System?]. Vestnik Sankt-Peterburgskogo universiteta. Ekonomika, 2012, no 4, pp. 115–123.

The article discusses the features of integration processes in modern developing countries. Shows the goals that pursue nation-states in the organization of integration unions. The position of the majority of associations of developing countries within the stages of development of world integration processes is indicated. The current and forecast dynamics of economic indicators of developing countries in comparison with the indicators of developed countries and the world as a whole is analyzed. Based on relevant statistics, a number of existing integration unions of countries with developing economies from various regions of the world are examined in terms of their composition and basic socio-economic parameters. The negative trends in the development of modern integration processes in countries with developing economies are investigated and the reasons hindering the effectiveness of their integration are identified.

DOI: 10.33917/es-5.163.2019.120-125

In the modern economy, an important role in providing sustainable development of an enterprise, a state and the world have got not only financial indicators, but also non-financial ones, especially human capital. The article dwells on the theories of human capital, their implementation in the third world countries and identifies directions for human capital development in these countries. In addition, the article analyzes the significance of human capital development for building an innovative society

The article aims to consider the possibilities of handling the developing countries’ debts to Russia. A model for converting financial debt into long-term lease of property assets (territory, water area, etc.) is proposed. Recombination of debts for the long-term lease of territory will allow our country to achieve geostrategic results now or postpone it for the future, when it becomes especially profitable for us. This model of setting off (paying) the debt of the debtor country for Russia’s right to lease a part of the debtor country’s territory for 100 years ahead with exclusive use rights like a special economic zone should protect the interests of Russia and Russian companies, with regard to possible future situations of both peaceful and military character. Experience of the USA, which leased Alaska from the Russian Empire and is still giving it back, confirms the proposed model effectiveness