Potential for economic cooperation between Russia and the CIS countries
Keywords:
Foreign trade, foreign direct investments, industrial cooperation, EAEU, CIS, economic potential.
Abstract
The paper studies the specifics of integration processes in the space of the Commonwealth of Independent States (CIS). The development of foreign trade and foreign direct investments has been analyzed. The distinguishing features of integration processes have been revealed. The potential for cooperation between the countries has been estimated. It has been shown that the level of the economic integration of Russia with the CIS countries has unstable dynamics. The results obtained allow concluding that the greatest potential is in the cooperation between Russia and the CIS countries in trade, mainly with those countries that are also members of the Eurasian Economic Union (EAEU). It has been established that the potential for the development of cooperation in the production and innovation spheres between the CIS countries is significantly lower than the potential for the development of foreign trade. This is because direct investments are much more inert in comparison with trading operations. The obtained results confirm the experts’ opinion on the predominant development of integration processes in the CIS format along the path of creating high value-added chains of products.
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References
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Žižka, M., Valentová, V.H., Pelloneová, N., & Štichhauerová, E. (2018). The Effect of Clusters on the Innovation Performance of Enterprises: Traditional vs New Industries. Entrepreneurship and Sustainability Issues, 5(4), 780-794. https://doi.org/10.9770/jesi.2018.5.4(6)
Bakhlova, O.V. (2017). Integration Policy of Russia in the Region of the Commonwealth of Independent States: Opportunities, Assessments, Prospects. Regionology, 4, 482-511.
Chufrin, G. (2019). The Interests of Russia in the Post-Soviet Space: Modern Challenges and Answers. Russia and the New States of Eurasia, 1, 9-20. https://doi.org/10.20542/2073-4786-2019-1-9-20
CIS Interstate Statistical Committee. (2019). Database. Retrieved May 15, 2019, from http://www.cisstat.com/
Digital Economy – a Platform to Accelerate Integration and Strengthen the Sovereignty of the CIS. (2019). Retrieved August 15, 2019, from www.bc-cis.ru/webcontent/интервью-2019.pdf
Dubrovsky, V., Yaroshevich, N., & Kuzmin, E. (2016). Transactional Approach in Assessment of Operational Performance of Companies in Transport Infrastructure. Journal of Industrial Engineering and Management, 9(2), 389-412. https://doi.org/10.3926/jiem.1721
Federal Customs Service of Russia. (2019). Foreign Trade Statistics. Retrieved August 15, 2019, from http://stat.customs.ru/apex/f?p=201:7:320229352326609::NO:::
Filipishyna, L., Bessonova, S., & Venckeviciute, G. (2018). Integral Assessment of Developmental Stability: Cases of Lithuania and Ukraine. Entrepreneurship and Sustainability Issues, 6(1), 87-99. https://doi.org/10.9770/jesi.2018.6.1(7)
Fomina, A.V., Berduygina, O.N., & Shatsky, A.A. (2018). Industrial Cooperation and Its Influence on Sustainable Economic Growth. Entrepreneurship and Sustainability Issues, 5(3), 467-479. https://doi.org/10.9770/jesi.2018.5.3(4)
Integration Club under the Chairman of the Federation Council. (2018). The Annual Report “Multilevel and Multispeed Integration: The Contours of a Large Eurasian Partnership”. Retrieved May 15, 2019, from http://council.gov.ru/media/files/j2jC2EeeuM6ZpTKwBapAiDsrk24pC5eo.pdf
Kharitonova, N.I. (2017). Integration Processes in the Post-Soviet Space: Economics vs Politics. Central Russian Bulletin of Social Sciences, 3, 131-136. https://doi.org/10.22394/2071-2367-2017-12-3-131-136
Klepatsky, L. (2008). Experience of the CIS. International Life, 6, 38-44.
Kvashnin, Yu.D. (2016). Mutual Direct Investment in the CIS: Problems, Prospects, Lessons of the Ukrainian Crisis. Problems of Forecasting, 2, 139-149. https://doi.org/10.1134/S107570071602009X
Lebedev, S.N. (2018). Modern Economy Poses New Challenges. Economic Strategies, 2, 7-17.
Litau, E. (2018a). Entrepreneurship and Economic Growth: A Look from the Perspective of Cognitive Economics. In ACM International Conference Proceeding Series (pp. 143-147). http://doi.org/10.1145/3271972.3271978
Litau, E. (2018b). The Information Problem on the Way to Becoming a “Gazelle.” In Proceedings of the European Conference on Innovation and Entrepreneurship, ECIE (Vol. 2018–September, pp. 394-401).
Litau, E. (2018c). Information Flows Management as a Way to Overcome “Puberty challenges” of a Small Enterprise. In ACM International Conference Proceeding Series (pp. 34-38). http://doi.org/10.1145/3278252.3278259
Meshkova, T.A. (Ed.). (2019). Eurasian Economic Integration: Development Prospects and Strategic Tasks for Russia: Report at the XX April International Scientific Conference on the Problems of Economic and Social Development, Moscow, April 9-12, 2019. Moscow: The Higher School of Economics. (p. 123).
Monitoring of Mutual Investments in the CIS countries. (2017). Saint Petersburg: CIR EDB. (p. 60).
Monni, S., Palumbo, F., & Tvaronavičienė, M. (2017). Cluster Performance: An Attempt to Evaluate the Lithuanian Case. Entrepreneurship and Sustainability Issues, 5(1), 43-57. https://doi.org/10.9770/jesi.2017.5.1(4)
National Bank of the Republic of Kazakhstan. (2019). Retrieved August 15, 2019, from https://www.nationalbank.kz
Orekhova, S.V., & Kuzmin, E.A. (2017). Resource Investment Model in Specifics of Developing Countries. In A.Y. Karpov, & N. Martyushev (Eds.), Proceedings of the International Conference on Trends of Technologies and Innovations in Economic and Social Studies 2017 (Vol. 38, pp. 488-494). https://doi.org/10.2991/ttiess-17.2017.80
Ryabov, A. (2018). Post-Soviet Space: Factors and Development Cycles. Russia and the New States of Eurasia, 3, 67-82. https://doi.org/10.20542/2073-4786-2018-3-67-82
World Bank. (2019). World Bank Open Data. Retrieved May 15, 2019, from https://data.worldbank.org/
Žižka, M., Valentová, V.H., Pelloneová, N., & Štichhauerová, E. (2018). The Effect of Clusters on the Innovation Performance of Enterprises: Traditional vs New Industries. Entrepreneurship and Sustainability Issues, 5(4), 780-794. https://doi.org/10.9770/jesi.2018.5.4(6)
Published
2019-09-26
How to Cite
Kheyfets, B., & Chernova, V. (2019). Potential for economic cooperation between Russia and the CIS countries. Amazonia Investiga, 8(22), 193-202. Retrieved from https://amazoniainvestiga.info/index.php/amazonia/article/view/189
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