International economic relations. Cheat sheet: briefly, the most important

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International economic relations. Cheat sheet: briefly, the most important

Lecture notes, cheat sheets

Directory / Lecture notes, cheat sheets

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Table of contents

History of the IEO
Fundamentals of the theory of MER
International division of factors of production
Importance of IEO today
MEO forms and their participants
Economic globalization
Russia's participation in the IEO
Features of development, commodity structure and distribution of international trade
International trade in services
Regulation of international trade in services
Worldwide e-commerce
Import policy tools. Export policy tools
Leasing as a way to promote the development of foreign economic relations
Advantages and disadvantages of leasing
Features of the foreign trade policy of various countries
World commodity markets
Structure of world markets
International capital movement
"Competitive Diamond" by M. Porter
Conditions for a country's competitiveness
Environmental policy
Stages of competitive development of countries
Conditions for advancing the country to the highest stage of development
Global competitiveness of various countries
Russia's global competitiveness
Competitiveness of states at the micro level
TNCs, the role and scope of TNCs in the modern world economy
TNK operations
The influence of TNCs on the world economy and the formation of modern international economic relations
TNCs and the state in the 1990s
Specificity and main forms of international technological exchange
International Technology Exchange and Intellectual Property Rights
Russian TNCs abroad and foreign TNCs in Russia
Historical background, causes and main centers of migration
Positive and negative aspects of migration
State regulation of migration flows
Migration policy in the Russian Federation
Objective Foundations and Essence of Regional Economic Integration
Evolution of integration processes. Main forms of regional integration
The main centers of integration processes in the modern international economy
Commonwealth of Independent States: Modern Model of Economic Integration and Russia's Interests
Balance of payments and its types
Russia's balance of payments, its external debt
Exchange rate and its influence on foreign trade. The factors that form it
Organizational and legal foundation of the modern monetary and financial system
Jamaican system. Reforming the IMF
The problem of stability of the post-Jamaican global financial architecture
General provisions of international organizations
United Nations, its activities
The role of the UN in the development of IER
WTO and other organizations and agreements as a tool for multilateral regulation of the IER
Russia's participation in the structures and mechanisms of multilateral economic cooperation
The ratio of internal and external equilibrium and the macroeconomic role of the balance of payments
Spending multiplier in an open economy
The macroeconomic role of the exchange rate
Macroeconomic Equilibrium Model in an Open Economy

1. History of the International Economic Relations

The formation of international economic relations depends on the level of development of the productive forces. There was an exchange between primitive communities and tribal unions. Gradually, during the formation of nation-states, it was transformed into international trade. In the future, the world market appears, and with it other forms of international economic relations.

In the Ancient East in 4-3 thousand BC. e. international trade already existed. Goods were transported by caravans, by sea, by river transport. The exchange of goods for goods was widespread.

Trade in ancient Greece was conducted between city-states. Pretty soon there is a specialization of cities in the production of certain goods. This developed the growth of labor productivity and increased the opportunities for trade between cities. In the Mediterranean and Black Seas, Greek merchants played the main role in trade.

The Roman Empire included a large number of territories, so trade between them was, in essence, international in nature. In addition, Rome had trade relations with Northern Europe, Asia and Africa.

With the advent of centralized states (England, Spain, France, Russia), trade begins to grow. In the XII-XIV centuries. capitalist relations appear, they significantly increase the role of international economic relations. Trade was mainly conducted in the basins of the Mediterranean, Baltic and North Seas. Also through these areas was trade with Eastern Europe, the Middle East and more distant territories. After the discovery of America and the sea route to India, the importance of ocean trade increased.

The level of development of Russia's foreign trade was lower than in Western Europe. The reasons for this: geographical remoteness, cut off from the seas; the social factor is the feudal-serf system, the low development of capitalism. But in the XVI-XVII centuries. Russia exported wood, furs, hemp, tar, and imported luxury items, metal products.

In modern times (the middle of the XNUMXth - the middle of the XNUMXth centuries), the market-capitalist economy is spreading around the world, a world market is being formed. Military-political factors had a significant impact on the development of international economic relations. In modern times, private joint-stock companies operating outside their own state have become subjects of international economic relations.

In the middle of the XIX century. capitalism began to actively develop in Russia, and its role in world politics and the economy increased. But the revolution of 1917 interrupted this process, and the role of Russia, and then the USSR, in the world economy changed radically.

2. Fundamentals of the theory of IER

The foundation of the theory of international trade is the principle of comparative advantage or comparative costs. This principle says that the most efficient use of the limited resources of the whole world and of an individual country will occur only if each country produces and exports those goods, the costs of which are relatively low in it. At the same time, it is more profitable for the country to refuse to produce goods for which its advantage is absolutely lower, as well as those for which its costs are not much less than for others. The specialization of a country is determined by the most favorable combination of factors of production. There are the following production factors:

1) labor;

2) capital;

3) land;

4) technology.

It follows from this theory that artificial barriers to international trade based on specialization may reduce its benefits. These are the following obstacles: import duties, non-tariff barriers, quotas. All of them are introduced by the states. Export restrictions are also theoretically undesirable. However, many countries are taking such measures, combining them in various ways. Duties significantly replenish the state budget, besides, their collection is relatively easy. By restricting imports, the state supports weak, uncompetitive sectors of the national economy. Export subsidies also help. If imports crowd out national producers and reduce the number of jobs, the state also restricts it. The difference between international trade and domestic trade is that one national currency is often exchanged for another. Commercial banks usually take part in this process. The ratio of this exchange is called the exchange rate or exchange rate. Devaluation (depreciation of the national currency) is beneficial for exporters and can stimulate the export sectors of the economy. It is unprofitable for importers and can reduce the import of goods from abroad.

The position of the international finance of the state depends on the monetary system and the changes taking place in it. The state influences the country's international finances through the general macroeconomic policy, in particular through the monetary policy. Among the instruments of monetary policy, there are discount policy (changes in loan interest rates at which the central bank lends to commercial banks) and foreign exchange interventions (purchase or sale of foreign currency in the market by the central bank).

3. International division of factors of production

Division of labor - this is the distribution of various types of labor activity between states, industries, industries, people.

Division of labor and specialization - these are the most important factors of economic progress and growth of productive labor. From the division of labor follows the exchange of products, and from this comes cooperation that is beneficial to the entire population - cooperation.

In the territories of different countries there is a territorial division of labor. For example, some regions develop industrial production more, others - agriculture. International specialization and cooperation follow from the international division of labor. Political conditions play an important role in the development of these processes.

The international division of capital is expressed in the following features. In developed countries, a large amount of money capital accumulates. In various forms, it is exported abroad. On the other hand, these same countries have the largest stock of real capital in the form of equipment, buildings, inventories, etc. Developing countries are characterized by a low rate of accumulation and a limited stock of accumulated real capital.

The international mobility of factors of production is not infinite. This affects the direction of international trade flows and the specialization of countries. But in recent years, this mobility has increased significantly and continues to grow. It arises in the global migration of labor force of different qualifications. The huge increase in international financial flows speaks of increasing capital mobility. The development of minerals, the general development of land, and so on, indicate a certain mobility of the factor of production "land". Scientific and technical knowledge is also actively transferred through patents, licenses, sale of know-how and other ways. The reasons for mobility restrictions may be natural or may depend on the policy of the country.

It is believed that at the turn of the XIX and XX centuries. completed the formation of the world market. The world market is a system of permanent commodity-money relations between countries based on the international division of labor, specialization and cooperation. The main feature of the world market is international trade. The world market optimizes the use of factors of production and excludes the most inefficient producers. However, the world market also contributes to the persistence of underdevelopment in some regions of the world.

4. Significance of IER today

The simplest and most commonly used measure of the intensity of ties in the world and for individual countries and regions is the export quota (the ratio of the value of exports to GDP). The intensity of international economic relations increased significantly in the second half of the XNUMXth century.

Factors affecting the increase in the role of international economic relations:

1) countries and territories that previously did not participate much in the international division of labor are involved in the world economy;

2) the varieties of goods and services manufactured in different regions are significantly increasing;

3) the lifestyle of people is changing, especially in industrialized countries. People are getting used to the consumption of goods and services from all over the world, to tourism, education, work and treatment in other countries, more sophisticated means of transport, financial settlements, telecommunications are used;

4) the predominance of the joint-stock form of enterprises, the formation of a global financial infrastructure favor the colossal movements of capital. This is further facilitated by the growth of transnational corporations;

5) the zone of the market economy is expanding, while the non-market economy is shrinking. External openness of the economy is increasingly becoming the norm;

6) liberalization of international economic relations, free movement of goods, labor, capital, technology also increases the openness of national economies. The scope of protectionism is shrinking;

7) world integration accelerates the advent of a single economic space, increases the specialization and cooperation of national economies. The colossal gap in the levels of economic development of industrial and former colonial countries also limits the development of international economic relations. The economies of many developing countries are mainly dependent on the export of a very small number (one or two) of agricultural products or minerals. This increases the instability of the economy and does not develop its inferior structure. Such countries have very limited demand for foreign goods.

Simultaneously with the increase in the openness of economies, various restrictions and barriers created by states remain, and sometimes increase. For poor countries, these restrictions are justified and often inevitable, since without the protection of national industry, the development of a modern economy is impossible.

The military-political situation may have a negative impact on the development of market relations. The supply of arms may interfere with the normal development of international economic relations.

Economic and financial crises also have an extremely negative impact on international economic relations.

Among the countries exporting minerals, due to the high constant demand for oil and natural gas, the oil-producing countries are the most successful.

5. MEO forms and their participants

Participants in international economic relations: individuals, enterprises (firms) and non-profit organizations, states (governments and their bodies), international organizations. Forms of international economic relations: international trade in goods, trade in services, movement of capital, labor migration, technology exchange.

Individuals buy foreign goods and services, exchange one currency for another, and so on, so they are participants in international economic relations.

Hundreds of thousands of firms with different forms of ownership take part in international economic relations, but TNCs play an increasingly significant role in them.

Most of the largest banks and insurance companies in developed countries are transnational in nature, with branches in many countries. Investment funds are also referred to as transnational financial institutions. They manage the financial resources of individuals, firms and organizations, investing them in securities and other assets in different countries. These financial institutions provide significant mobility of money capital around the world. Consequently, the efficiency of the world economy is increasing, but factors of exacerbation of financial and economic crises are being created.

Often, governments are direct participants in international economic relations as borrowers in international financial markets, exporters and importers of goods, etc.

International economic organizations are classified according to different criteria:

1) by country coverage - worldwide and regional. The former include most of the UN bodies, the International Monetary Fund, etc. Among the latter, the main role is played by the bodies of economic integration, especially in Western Europe;

2) by composition of participants (members) - interstate and non-state;

3) by field of activity - trade, finance, agriculture, communications, etc.;

4) by the nature of the activity. Some organizations provide gratuitous or other financial support to governments, enterprises, public associations. Other organizations are engaged in international regulation of certain areas of the world economy.

Economic aspects occupy one of the leading places in the activities of military-political organizations (primarily NATO). Also, many sports, scientific, professional, cultural and other organizations are engaged in economic activities in the world market.

6. Economic globalization

Globalization - this is the worldwide dependence of countries, enterprises and people among themselves in an open system of political, financial, economic and cultural ties based on modern information and communication technologies.

Economic globalization is the most important part of this process. Globalization is not a completed process, it develops, experiencing contradictions and difficulties.

The level of globalization of the economy depends on the level of development of productive forces, modern technologies.

Human problems and globalization are interconnected. These are military-political, scientific-technical, financial-economic, environmental, demographic problems, the fight against high mortality, hunger, poverty in developing countries and other problems.

To solve these global problems, states should join their efforts. This happens due to the activities of existing and creation of new international organizations, bilateral and multilateral agreements, etc.

Recently, it has become clear to mankind that the openness of societies and economies is necessary not only for progress, but also for survival. But in the modern world there are still nationalism, extremism and other problems. They largely hinder the development of international economic relations. The processes of globalization do not affect a huge part of the world's population in backward countries. Nevertheless, globalization is the main trend in the development of today's world, its economy and international economic relations.

Market globalization - this is a free international movement of services, goods and mobile factors of production with the formation of prices justified by competition on a global scale (for example, the oil market). The globalization of markets contributes to a high level of efficiency in production and circulation.

In recent years, there has been a globalization of financial markets, i.e. capital markets in its monetary form. This process requires liberalization, that is, the abolition of restrictions on the movement of capital in its main forms.

In the second half of the XX century. the world economy and scientific and technological progress grew at high rates.

But at the end of the XX century. the global economy was under threat due to financial crises in middle-level countries.

The consequence of these crises was a slowdown in economic growth and, in many of the affected countries, a decline in production.

7. Participation of Russia in the IEO

Russia's share in world trade is less than its share in world production of goods and services. This is evidenced by the fact that Russia's export quota is much lower than the global figure. In terms of exports in 2003, Russia ranked 1th in the world (7%). Even in the USSR, the economy was skewed in the structure of exports towards a small amount of raw materials, especially energy. In post-Soviet Russia, this has intensified even more. Russia exports very little industrial and consumer goods, machinery and equipment. One of the reasons for this is the low competitiveness of Russian industrial goods on the world market. Food and consumer goods occupy a significant place in Russian imports, the share of industrial equipment is also very low.

Russia's participation in global financial flows can hardly be called normal. In the 1990s external state and non-state debt increased rapidly. At the same time, huge amounts of private capital "leaked" from Russia for economic and other reasons. Russia needed foreign direct investment capable of bringing new technologies with it, but they came in small amounts. The legal export of capital from Russia in the form of direct investment is also extremely small.

However, Russia has favorable factors of production: a skilled, organized and low-paid labor force; the richest natural resources; high scientific and technical potential.

The reasons that these favorable factors still do not have a positive impact on the economy and international economic relations of Russia are as follows:

1) having destroyed the planned socialist economy, Russia was unable to create an effective private capitalist economic system in its place;

2) the collapse of intra-union integration ties is heavily replaced by a new system of international division of labor in the post-Soviet space;

3) moving away from the militarized economy of this model while maintaining efficient sectors of military production is also a difficult process;

4) as well as the flight of capital, the "brain drain" - the emigration of personal carriers of scientific and technological progress - is of great importance.

Russia needs the so-called reindustrialization, that is, the creation of a modern economy based on the introduction of advanced technologies in all sectors of the economy and spheres of life. The development of healthier international economic relations can accompany Russia's economic recovery.

8. Features of development, commodity structure and distribution of international trade

All countries of the world are gradually drawn more and more into the international division of labor. This is evidenced by the growth rates of international trade.

Growth rates are considered in imports and exports. Commodity structure implies the ratio between some groups of goods.

Geographic structure - share of any region, country or group of countries.

High and stable growth rates of international trade indicate the recent increase in market capacity. These are qualitatively new signs of world trade. There is a growing volume of trade in ready-made industrial products of one kind or another, and in particular machinery and equipment. The rates are even higher in industries related to the sale of various means of communication, electronic and computer equipment, etc.

The modern trade policy pursued by each country is characterized by the presence of two opposite tendencies in it - protectionism and liberalization. This does not mean that a country necessarily pursues these two policies at the same time. It's just that in different periods of the development of trade, one thing prevailed.

But the measures may not be so unambiguous. Reducing customs regulation is not the same as eliminating regulation. Using modern flexible methods, you can simultaneously use the latest means to protect the national manufacturer. Within a certain grouping, countries establish their own "rules" of trade, their customs duties or preferential regimes, and in relation to other, third countries, they carry out a protectionist policy.

Protectionism can be expressed in customs duties. The state can establish quantitative restrictions on imported products, establish quality standards, environmental standards, etc. At the same time, they can be selective.

The state policy becomes more complicated not only in relation to protectionism. This applies, for example, to export promotion. The state can finance some industries that are aimed at exports, not directly, but indirectly (first of all, these are high-tech industries).

In some states, direct export subsidies are actively used. This mainly applies to agricultural products. In addition, the state can help firms abroad that advertise the products of this country or help its firms.

9. International trade in services

Today, not only goods are sold on the world market, but also services. And they take up a large part. The service market is understood as the following activities:

1) services provided in connection with international trade. They include insurance, transportation, etc.;

2) services that are directly related to the exchange of technologies: cooperation in the technical field, capital construction, management activities;

3) travel of people, which includes both tourist and business trips;

4) banking expenses, leasing, capital income payments;

5) wages and social expenses in relation to foreign workers.

Now there are more and more new types of international services. Their share in world GDP is increasing. In total, there are six groups of services:

1) construction and utilities;

2) trade (both wholesale and retail), hotel business, restaurants, tourist camps;

3) transport services (in relation to goods or people), storage, communication services, mediation in the financial sector;

4) state defense and social services;

5) education, healthcare and work of a public nature;

6) other communal, social and personal services. Recently, more and more confident in the world

information and consulting services are developing in the market.

Due to the fact that Services - this is a special object of trade, they are not fixed by the customs services, as they rarely cross the customs border. Payments are usually made through commercial institutions. Exists classification of world trade in services depending on the mode of supply:

1) cross-border trade;

2) consumption by a person (firm) of services abroad;

3) establishment of a commercial presence in the territory of the country where the service is provided;

4) relocation of the service provider - an individual - to another country for the purpose of providing the service.

If we talk about countries that are exporters of services, it should be noted that all of them are economically developed.

10. Regulation of international trade in services

Now the regulation of international trade in services is carried out at various levels. For each of them there are several organizations with a corresponding range of problems.

Examples of such organizations are WTO (World Tourism Organization), ICAO (Organization of International Civil Aviation), IMO (International Maritime Organization). These intergovernmental organizations, as their names suggest, are concerned with the regulation of activities in a particular industry. For example, ICAO defines uniform rules for the flight and operation of air transport and buildings associated with their activities, and the World Tourism Organization develops standards that hotels, restaurants, etc. must comply with. Sometimes bilateral agreements are concluded between two countries.

If we talk about the world level, then for a long time it was the purview of the General Agreement on Tariffs and Trade (GATT). But at the suggestion of the United States since the 1980s. trade in services was taken over by the GATT. The essence of the US proposals is as follows: for the market of services, it is also necessary to develop rules, as well as for goods (equality of producers, transparency, etc.). But these questions raise a number of difficulties, which are primarily related to the fact that the service in most cases is consumed almost simultaneously with its production. Control of production, therefore, means control of investment.

When investing, GATT equalizes the rights of national and foreign firms.

Developing countries pursue policies aimed at controlling the activities carried out by foreign corporations on their territory.

In 1986, in Punta del Este, the countries agreed to discuss the problems of trade in services at the international level. As a result, a special agreement was adopted - GATS (General Agreement on Trade in Services). GATS consists of three parts:

1) framework agreement, which defines the general rules for trade in services;

2) special agreements. They apply to certain service industries;

3) a list of obligations of national governments, which are measures to reduce and remove restrictions in the service industries.

Subsequently, the states came to an agreement on the liberalization of trade in services. The spheres of telecommunications, transport and financial activities are subject to regulation.

11. Global e-commerce

The concept of "electronic commerce" appeared relatively recently. Often, e-commerce is understood as purchase and sale transactions carried out via the Internet. At the same time, there is another point of view: purchase and sale transactions are carried out through any electronic networks (for example, using the capabilities of interactive television). Sometimes they try to reveal its essence with the help of already familiar concepts: as a further development of mail order trade through catalogs or some continuation of the development of electronic transport, banking and exchange systems, with the help of which settlements were carried out.

The production component of electronic commerce is manifested in relation to electronic services and electronic goods (they are mainly informational in nature).

The essence of electronic commerce is that some commercial transaction is carried out. Moreover, the parties come to an agreement without direct contact with each other, but through the Internet. As a result, there is a change in the owner of the object that is the subject of the sale.

E-commerce includes not only the commercial transaction itself, but also Internet marketing, contacts with suppliers via the Internet, customer service after the sale of goods to them, the system of payments and delivery in various ways (online or traditional), etc. But all of these the items do not belong to e-commerce without a commercial transaction.

The basis of electronic commerce is information technology. Thus, electronic commerce is an electronic information management technology that leads to the conclusion of a trade transaction on the Internet.

The entire e-commerce process can be divided into three stages:

1) search stage;

2) order and payment stage;

3) delivery stage.

E-commerce has a number of advantages over the traditional one. It significantly reduces transaction costs, makes the process of making transactions easier and reduces it.

E-commerce participants are firms and households. The state takes part in it to a lesser extent, as it lags behind in the development of the economic electronic space.

There are two main types of e-commerce: marketplace and e-shop.

12. Means of import policy. Export policy tools

In an open economy, when different countries interact with each other, it is necessary to pay special attention to the means of import and export policy. Actions in this area can help the country achieve high results or, conversely, worsen its position. To prevent the latter from happening, you need to know the tools of foreign economic regulation and skillfully use them.

There are basic rules governing trading. They are developed by the respective organizations. They do not order states to act one way or another, but are called upon to resist protectionism, to promote liberalization, that is, to ensure equal conditions for everyone.

To regulate foreign activity, the state uses the following main methods:

1) customs tariffs;

2) non-tariff restrictions;

3) various forms of export promotion.

In relation to the import policy, customs tariffs on imports are applied. This means collecting money from goods imported into the territory of a given country from abroad. This activity is carried out by a special customs department. At the same time, the price at which this product will be sold in this country will be higher than the global one. Customs duties may be levied either at the rate of a fixed amount per unit of measure, or as a fixed percentage of the value of a given commodity. The imposition of import duties affects consumers as 12б as the price increases. But this allows domestic producers to raise prices for their goods, as the consumer would still prefer to buy cheaper local goods. All this leads to the fact that resources within the country are used less efficiently, and to the fact that the domestic manufacturer does not seek to improve the quality of its products, since in any case it has an advantage - a lower price.

There are tariffs not only for imported, but also for exported products.

In addition to setting tariffs, there are other methods by which the state regulates foreign trade activities. These include quotas, voluntary export restrictions, export subsidies, international cartels, economic sanctions, dumping.

Quota is a quantitative or cost restriction on products intended for import or export abroad. Quotas aimed at restricting imports make it possible to create more favorable conditions for domestic producers - to reduce competition in the domestic market.

13. Leasing as a way to promote the development of foreign economic relations

Leasing - This is a kind of lease, different from others. In this case, there is a separation of ownership of property from the use of it.

Leasing is a special form of financing the purchase of a variety of equipment.

As a rule, leasing operations are carried out with the help of firms specializing in this activity. Leasing company - a company that leases an object on certain conditions to the lessee.

The lessor is the owner of the object provided for leasing. The leasing company is engaged in the acquisition of ownership of the property from the manufacturer, and then she leases it for a certain period.

The amount and terms of leasing payments are established at the conclusion of the contract. If the user fails to fulfill the terms of the agreement, the lessor has the right to either terminate the concluded agreement or use the guarantees provided to him. The lessee also has certain obligations:

1) accept the object of the transaction;

2) check the integrity of the supply and the functioning of the equipment;

3) upon detection of malfunctions, inform the lessor about it;

4) after acceptance of the object, the lessee must assume the rights of the lessor that he has in relation to the supplier.

In cases where the object of the lease is equipment, instruments, machines and control devices, there are several forms of lease:

1) short-term rental - renting;

2) medium-term lease - hairing;

3) long-term lease - leasing.

In total there are about 30 types of leasing.

The following classifications are most commonly used.

1) According to the method of use, leasing is divided into production and consumer.

2) According to the method of use, individual and leasing-blanco are distinguished;

3) By the nature of the interaction, leasing can be pure or broad;

4) In terms of providing an object for leasing - internal (provided within the country) and external;

5) Special emphasis is placed on financial leasing. There are the following types of financial leasing:

1) leasing standard. In this case, the manufacturer sells the object of leasing to a company specializing in this field, which sells this object to the consumer;

2) supplier leasing. With this form, the roles of the seller and the tenant are combined.

14. Advantages and disadvantages of leasing

Leasing is becoming more and more popular. The reason for this is the benefits for all participants in this process. The advantages of leasing can be presented by grouping them.

1. financial benefits. In some situations, for an enterprise, this is the most optimal solution to the problem of a shortage of an object when there are insufficient funds to purchase it. It becomes easier to respond to changes in the market structure, lease payments are fixed in contrast to the price level.

2. Investment benefits. For many companies, leasing is perhaps the only option for obtaining any equipment, since when taking a loan from a bank, a significant amount of your own funds is required, and obtaining any property on lease requires a pledge in the form of this very property. Since the property is owned by the lessor, the probability of non-repayment of funds is significantly reduced. In addition, the company can invest the funds saved through leasing in its own further development.

3. Organizational and operational advantages.

If there is no need to immediately pay the entire cost of the equipment, you can immediately begin operation. As a result of using this facility, the company receives a profit, part of which goes to pay lease payments, and part remains at the disposal of the tenant.

4. Service benefits. The tenant gets the opportunity to take advantage of a number of services such as insurance, guarantee, transportation, etc.

5. Accounting and accounting benefits.

Lease-related expenses are classified as operating costs, which reduces taxable income. The object taken on lease remains on the balance sheet of the lessor, and not on the balance sheet of the tenant.

But leasing also has certain disadvantages:

1) leasing operations are quite complex in terms of developing the conditions for concluding an agreement and documenting;

2) the firm-lessor must necessarily have a fairly large initial capital or such a source of funds that would provide a stable income;

3) due to inflation, the lessee loses part of the funds due to an increase in the residual value of the equipment;

4) if we compare the prices for equipment and for a loan, leasing is more expensive, since the risk of wear and tear falls entirely on the leasing company.

At present, there is a tendency in the world to reduce obstacles to the development of leasing relations. Numerous laws and agreements have been passed.

15. Features of the foreign trade policy of various countries

Of course, the foreign trade policy of each country is important for the world community. But if we talk about their features, then we should consider them on the example of the most influential participants in international trade.

After the Second World War, the United States strengthened its economy and became supporters of the creation of stable rules for international trade in goods and services that would promote the development of trade.

Governments subsidize industries that produce goods for export.

When creating a new generation of computers, the state financed research projects and increased the percentage of depreciation for equipment used for these purposes.

But economically developed countries in some cases also use direct financing.

During the implementation of reforms in the 1990s. the government has dramatically changed the entire system of foreign trade relations. An important role in this area began to be played by such means as the establishment of customs duties, licensing, quotas, etc.

Since Russia is actively exporting its mineral resources, much attention in foreign policy has been paid to the administrative regulation of the export of raw materials.

Special exporters were also identified: foreign trade organizations that were previously the only ones who carried out activities in foreign trade; regional exporters exporting products manufactured in the territory of a given region; joint ventures that also export their own products.

With the strengthening of the ruble, exporters of products suffered, and to soften this blow, the government reduced taxation on goods intended for export. Subsequently, the system of special exporters proved to be ineffective and was abolished.

Import regulation was not so strict. Only measures were taken for sanitary and veterinary control, to ensure public safety and health.

Russia's immediate tasks in the field of foreign trade are: further regulation of the tariff system, adaptation to the conditions of organizations such as the WTO. The issue of establishing customs duties should be approached flexibly and reasonably. For example, import duties should be reduced on products that are not produced in our country, but are necessary for it (progressive and high-tech equipment).

16. World commodity markets

World commodity market - this is the area of commodity-money relations between states, which are based on the international division of labor. World commodity markets are formed under the influence of many factors and have a number of features:

1) these are markets for already produced goods that are sold outside the national framework;

2) these goods moving between countries are subject not only to internal, but also to external supply and demand;

3) these markets contribute to the most efficient use of factors of production in certain industries and regions;

4) thanks to them, goods that do not meet quality standards at given competitive prices come out of international commodity exchange.

The most important external sign of the existence of commodity markets is the international movement of goods and services and world trade.

The commodity market model shows the relationship between internal and external volumes of supply and demand, establishes the volumes of exports and imports, and determines the equilibrium price.

World markets are more volatile than the national economy and subject to the influence of some external factors. They quickly respond to changes in demand and market conditions. They are also influenced by monetary and financial factors, state measures in the field of foreign trade regulation, monopolization. On the whole, the entire system is developing faster and more dynamically than the global sectoral structure of social production.

The state of world commodity markets is affected by the level of monopolization. Often agreements and transactions are concluded between a certain limited number of participants, which leads to the relative isolation of these markets. In such conditions, the market ceases to be flexible.

Monetary and financial factors have recently been strengthening their role. This is largely due to the floating exchange rate. Sharp changes in exchange rates force countries to change the volume of trade.

Now there is a constant interaction of two trends in foreign economic policy: on the one hand, the desire to liberalize trade between the countries of the world, and on the other hand, increased protectionism in order to protect one's country from excessive penetration of foreign capital and goods across the border. The state can use different strategies: imports, exports, various restrictions, incentives, isolation, saturation of a scarce market, protectionism, free trade.

17. Structure of world markets

There may be many firms in the market, with the dominance of any one, larger and more competitive.

The structure of markets is determined by several indicators:

1) the number of competitors in the market;

2) share, according to which there are competitors;

3) indicators of market competition. Determining the number of competing firms operating in a given product market does not provide complete information about the presence and level of competition between them. But still, this information is necessary to determine the share of participation in the market. For this, some calculations are carried out: market volume, sales share of each supplier. These parameters can be calculated in different terms: in kind or in value terms. It depends on the nature of the goods: if the goods are homogeneous in composition, then the natural-material form should be used for calculation, and if it is heterogeneous, then the value form. In any case, this information is calculated on the basis of data provided by state statistics bodies or by the suppliers themselves on the market. Next, a ranked list of suppliers in the product market under consideration is compiled, the share of each market participant in its activities is analyzed, conclusions are drawn about the degree of their distribution (whether they are present in equivalent shares) and those suppliers that prevail to some extent in this product market are identified. .

Various indicators of market concentration make it possible to judge the level and degree of its monopolization, i.e., more or less equal shares of participants in the market. The degree of concentration in an industry, as measured by the concentration ratio, is one of the key elements in the market structure. It is she who determines the nature of competition and its final results. The highest level of concentration is monopoly. At the same time, there is only one seller on the market, who can set the price at his own discretion and dictate his will to everyone. With monopsony, there is only one buyer, which is also considered a negative phenomenon.

But in most of the industrialized countries there is an oligopoly. This is the "middle" between monopoly and perfect competition. The features characteristic of an oligopoly are: the presence on the market of two or more firms competing with each other; the presence of barriers in case of attempts by other firms to enter this industry; the existence of at least one large firm in a given product market, with certain actions of which competitors will be able to adequately respond to this.

18. International movement of capital

In real (economic) content, the movement of capital is a key element in the development and functioning of the world economy.

Investments differ depending on the nature and form.

1. According to the sources of origin, capital has the following division:

1) State.

2) Private capital.

2. According to the nature of use, there is the following division:

1) Entrepreneurial capital;

2) Loan capital.

3. It has the following division by time:

1) Short term.

2) Medium-term.

3) Long-term.

4. According to the purpose of investment, there is the following division:

1) Direct investment;

2) Portfolio investments.

Recently, foreign direct investment has increased significantly.

Even the very concept of direct investment has expanded significantly. It was first applied in 1999. In many cases, international investment is secured by some kind of agreement. Most often this is done with the cooperation of two countries or is used in major international agreements.

In the interaction of international investors, certain circumstances arise that are no longer economic, but political in nature. This is due to disagreements on some issues.

Large investors on the world stage are, as a rule, influential participants in world politics. Often, economics and politics are very closely intertwined, and therefore interests in one of these areas depend on actions in the other.

Many countries are trying to transfer political standards to the economic, in this case investment, area. With the help of these standards, the priorities of the market development of the economy are established. It would be implied in this case that international policy should be built only on a market basis.

19. "Competitive diamond" by M. Porter

Professor at Harvard Business School Michael Porter in 1990 published a monograph "The Competitive Advantage of Nations". He tried to identify the reasons for the country's success in international competition in a particular industry using a system of four indicators - "competitive rhombus".

The "competitive rhombus" consists of the following system of indicators: factor conditions, conditions of domestic demand, related and supporting industries, structure and strategy of firms, intra-industry competition.

The list factor conditions M. Porter included the following groups of conditions:

1) human resources;

2) natural resources;

3) capital;

4) scientific and information potential;

5) infrastructure.

The main idea of M. Porter is the idea that the main factors for competitiveness by the country are not inherited, but created.

International competition for a country begins with competition based on basic factors - unskilled labor or natural resources. But M. Porter believes that competitiveness based on basic factors is fragile, because other countries with cheaper natural resources or labor can enter the world market, the production process can change, etc.

In knowledge-intensive industries, basic factors do not provide a decisive advantage. In addition, TNCs can get them in other countries through foreign investment.

The winners in the competitive struggle are countries where the development of a certain market segment was given more attention due to special internal conditions, while the demand for these products in other countries was still small.

Companies can finance innovation and improve depending on the demand conditions specific to a given country.

The state was not included by M. Porter in the main determinants of the rhombus. He believed that direct government intervention had a negative effect on competitiveness. It does not create competitive industries.

There are many problems in the field of foreign trade. One of the most important is the simultaneous provision of the interests of both the national economy as a whole and individual enterprises and firms that also take part in international exchange. M. Porter also put forward his theory. He analyzed the activities of companies from the ten most industrialized countries, which together account for almost half of the world's exports of goods and services. His concept is called "international competitiveness of nations".

20. Conditions for the country's competitiveness

The competitiveness of each country on the world stage is determined by four interrelated components.

1. Factorial conditions. M. Porter does not limit the factors that are initially available. It also adds new ones that may arise during the production process. For example, the introduction of new technologies with a lack of resources.

2. demand conditions. Demand is a determining component for the development of the firm. We are talking here not only about domestic demand, but also about external demand, since the possibility of a company entering a foreign market can greatly influence the situation in a company. M. Porter's approach highlights the requirements of the domestic market for individual companies.

3. State of the industries. This is an important condition, since such industries ensure the smooth operation of the industry in question, from the supply of equipment to various financial structures and relationships with customers and suppliers.

4. company strategy, which it adheres to in a given competitive situation. To achieve success in international activities, a flexible strategy in the global market and an appropriate specific structure are simply necessary.

And in accordance with this, M. Porter singled out four stages of the country's life cycle.

1. Stage of factors of production.

2. Investment stage.

3. The stage of innovation. 4. wealth stage.

For each of these stages, M. Porter singled out the main recommendations for the economic policy of these countries.

For economies that are at the stage of factors, he recommends maintaining internal macroeconomic and political stability, achieving a high level of education, and the rule of law. They also need to create and develop physical infrastructure, open markets and use advanced technologies from other countries.

He advises economies at the investment stage to invest in improving physical infrastructure, scientific research, and the development of "clusters". In addition, it is necessary to create conditions for outstripping the development of foreign technologies and the development of capacities along the entire chain from extractive to manufacturing industries.

Economies that are at the stage of innovation should pay attention to the further development of "clusters"; create a network of research organizations, which in turn includes not only scientific laboratories, but also the training of specialists of the appropriate level.

21. Environmental policy

Today, the environmental problem has come to the fore. Environmental pollution, resource extraction, demographic growth and other similar problems lead to a significant change in human living conditions and the state of the atmosphere. Thus, the environmental problem has become a global one and acquired a number of economic aspects. However, it is characterized by an aggravation trend.

For the first time at the world level, the environmental problem was discussed in the 1970s. within the Club of Rome. He considered issues related to the violation of the environment and ecology and the impact of these factors on humans.

The increasing development of countries has its downside: new and increasingly dangerous trends and problems (nuclear waste, climate change on the planet) are emerging. They cover not only economically developed and high-tech countries, but almost the entire territory of the Earth.

Cooperation in the environmental sphere involves the interaction of countries, since many of them (developing and countries with economies in transition) do not have enough funds to overcome the environmental threat.

Modern environmental problems are also political in nature. This applies primarily to the development and testing of nuclear weapons.

Market methods are not applicable to solve environmental problems, which also applies to other global problems. This requires administrative and other indirect measures. The former include prohibitions, restrictions, the establishment of certain standards, obligations to conduct examinations, etc. The indirect ones include: fines, payments, special taxes and fees, the creation of environmental funds, etc.

There are a number of measures that need to be taken to ensure environmental safety: awareness of the severity of the environmental problem, development and implementation of consistent measures in this direction, constant monitoring of the state of the environment, holding accountable for violation of environmental legislation, ensuring control over the construction of environmentally hazardous facilities, environmental education of the population, etc.

The UN conference in Kyoto in 1997, in which more than 120 countries took part, was devoted to all these issues.

In 2000, a forum was held in The Hague. At it, the countries tried to eliminate the shortcomings that still exist in the framework of quotas, and to eliminate the shortcomings in the program to reduce emissions into the atmosphere.

22. Stages of competitive development of countries

M. Porter identified four stages of the competitiveness of the national economy in accordance with the four driving forces - these are factors of production, investment, innovation and wealth.

1. A stage driven by the factors of production. At this stage, almost all of the country's competitive industries benefit from basic factors of production.

Products enter foreign markets mainly through foreign intermediaries. At this stage, a very small number of national firms have contacts with end users.

2. Investment driven stage. At this stage, national competitive advantage is based on the willingness and ability of the country and its firms to actively invest.

Fierce internal competition in competitive industries forces firms to continuously invest in order to reduce costs, improve product quality, introduce new models and modernize processes.

The investment stage is characterized by rapid growth in employment, wages and factor costs. The economy is becoming less vulnerable to global crises and currency fluctuations.

3. A stage driven by innovation (innovation).

Firms in the innovative stage of the economy compete in world markets in more differentiated industry segments. They continue 22б compete on price, but on the basis of high productivity. At the innovation stage, the economy is most resilient to external events and macroeconomic fluctuations, especially when the country gains the ability to expand "clusters".

4. A stage driven by wealth. The exit of the country to this stage is the beginning of the decline. Its driving force is the wealth that has already been achieved. The problem is that an economy driven by previously achieved wealth cannot sustain that wealth.

The financiers are coming to replace the pioneer entrepreneurs, the creators of industrial empires, in the management of companies. The prestige of working in industry is giving way to other careers. The tendency to increase taxes on wealth as a nation grows wealth reduces the incentive to invest in industry.

The economic spectrum is narrowing, the competitive advantage is lost first in the basic industries and finished products, later in the production of components, then in equipment.

23. Conditions for the promotion of the country to the highest stage of development

Economic progress is not inevitable. Many countries, for a variety of reasons, cannot move from the first or second stage, or, having entered the wealth-driven stage, again find themselves in the factor stage. The most important conditions for a country to advance to a higher stage are as follows.

Formation mechanisms production factors. The potential of the economy is limited by the quantity and especially the quality of factors. Well-functioning mechanisms that create and improve factors provide the basis for a higher order competitive advantage, since each of the first three stages requires more developed and more specialized factors.

Motivation. To move to higher stages, workers and managers are required who are interested in high wages and, accordingly, in the length of the working day, and in finding ways to increase the profitability of the company. To maintain motivation, it is important that employees feel confident that they will be rewarded for hard work and good ideas. Capital holders must also be motivated to invest sustainably.

internal competition. Fierce competition among local producers across a wide range of industries is needed to spur innovation and improve competitive advantage. Competition helps overcome inertia. The intense rivalry of local firms also has an important side effect on other determinants of the diamond.

Demand improvement. Improving the quality of demand creates the potential for success in more complex segments and advanced industries. Demanding buyers also encourage improvement. Demand is also improving as incomes and the level of education of the population grow. Setting important social goals, investing in areas such as health and environmental protection, create an incentive to create new industries.

Lack of individual factors. The absence of separate, less developed factors creates an incentive to increase productivity, as well as to improve competitive advantage in higher order factors, provided that there is appropriate motivation and intense internal competition.

Ability to create new business. The transition to a higher stage requires effective mechanisms for creating new business, either through changes in existing firms or through the creation of new ones. This is necessary for healthy competition, the creation of new and more complex industry segments, the expansion of the supplier network and related industries, and the eventual creation of "clusters" of industries.

All these forces are necessary not only each by itself, they create a closed system where they mutually reinforce each other. The rate of progress of a nation is held back by the potential of its weakest link. Until a country reaches a certain level of income and accumulated wealth, the problem is not to fall into the wealth-driven stage, but that there is a danger of sliding down.

24. Global competitiveness of various countries

USA. The United States has been the undisputed leader of the world economy since World War II. In the post-war years, American firms not only retained what they had won at the beginning of the XNUMXth century. key positions in many areas, but also expanded the number of globally competitive industries through technological leadership, skilled workforce and quality of managers.

In the 1970s-1980s. the country's economy has moved closer to the wealth-driven stage, long-term investment has declined, and competition has declined. At present, we can talk about the country's return to the innovative stage of development, its leadership in the restructuring of the world economy, where the main component is the extremely rapid development of the field of informatization, and the significant influence of the American economic mechanism on the formation of a globalizing economy.

The United States has a large number of basic factors (labor and natural resources, significant capital). But the United States achieved its power largely due to investments in mechanisms for creating and improving the quality of factors, mainly in education and R&D in promising industries. Thanks to this, the United States has taken a leading position in many areas of science and technology.

Japan. In recent decades, Japan has become a strong global power with a competitive economy. Japan supplies the world market with products from a wide range of industries, primarily high-tech: electronics, biotechnology, robotics, as well as mechanical engineering, metallurgy and transport.

The unusually successful and rapid development of the country from the factorial to the innovative stage of competitiveness is due to many reasons, including the production of high-quality products at low costs, the specifics of labor relations, and the rapid introduction of new technologies.

United Kingdom. The UK is a unique example of a country that, after being in the wealth-driven stage for a long time, was able to return to the innovation stage of development.

Despite the large reserves of accumulated wealth, by the 1970s. in most modern industries, the UK has lost ground to the United States, Japan, Germany and France, which is reflected in its place in world GDP, trade and international monetary relations.

The UK is currently in the process of transitioning to an economy based on the latest technologies and services.

25. Russia's global competitiveness

Russia. Russia's competitiveness relative to other developed countries remains low.

Currently, Russia is in 20th place in the world in terms of exports, and in the early 1990s. The USSR was in 10th place. The crisis in the country's economy and the reduction in the production of the most promising products led to the fact that Russia's competitiveness in the world market in comparison with the USSR decreased and was reduced to a narrow range of industries. It occurred mainly due to an increase in the loading of old equipment with the production of obsolete products on the basis of an undervalued national currency and the cost of production factors.

Only a few industries produce products that can compete in the world market, and mainly on price. These are mainly industries dependent on raw materials (they account for more than 3/4 of exports), primarily the fuel and energy complex, ferrous and non-ferrous metallurgy, petrochemical and timber industries. Comparatively high competitiveness of Russian military equipment and weapons, some types of which have no analogues in the world. The bulk of the products of the manufacturing industries cannot compete on the world market; moreover, there is a decrease in the competitiveness of civil machinery and equipment, which is expressed in a reduction in the export of certain types of products, such as cars.

Among the competitive advantages of Russia, one can note the presence of rich natural resources, a fairly high educational level of the population, a skilled workforce, and scientific and technical potential. Russia occupies the last places in the competitiveness rating according to such indicators as the openness of the economy and the quality of competition, transparency and efficiency of administrative management.

Despite the victory in World War II and the presence of a colossal amount of natural and other resources, Russia failed to rise above the factor stage of development, which was due to a number of reasons, primarily the lack of private property, the state monopoly in foreign economic relations and the monetary sphere, " over-regulation" of the economy and, most importantly, the almost complete absence of a competitive environment. Porter's "rhombus" as a system simply did not work, so even the existing determinants did not contribute to the development of others.

26. Competitiveness of states at the micro level

Along with a stable political climate and prudent macroeconomic policies, a prosperous economy requires a microeconomic foundation for economic development. They lie in the competitive practices and strategies of firms, the mechanism for creating competitive advantage, and the economic policies that make up the business environment and firms compete.

Microeconomic differences largely explain differences between countries in levels of GNP per capita. As GNP per capita rises, microeconomic conditions change.

The main problem of economic development is the creation of conditions for productivity growth. A country's ability to improve the microeconomic environment affects its prosperity. The microeconomic foundations of productivity lie in two interrelated areas:

1) a rather complex level at which companies compete;

2) the quality of the microeconomic business environment. If welfare is to be increased, then a country's competitive advantage must shift from comparative advantage (natural resources and cheap labor) to competitive advantage based on the production of unique products or new technological processes. As we move to a higher stage of economic growth, a change in goals is necessary: competitive practices and company strategies, which often meets with resistance.

"Traditional" factors of production, including human resources and physical infrastructure, have less of an impact on national differences in GNP per capita. Differences in GNP per capita are strongly influenced by demand conditions and the presence of related and supporting industries, highlighting the importance of "clusters" for competitiveness. The part of the "diamond" covering the strategy and structure of firms also turns out to be important, including intellectual property rights, lack of corruption, openness in trade, investment climate and intensity of internal competition. Other variables of great importance for economic growth include: product technology, access to the securities market, professionalism of management, quality of telephone and fax communications, availability of business information, effectiveness of antitrust policy, personal security, ability to finance initial investment, demanding buyers, quality of local sub-suppliers, protection of intellectual property rights, absence of regular non-payments.

27. TNCs, the role and scope of TNCs in the modern world economy

International corporations - These are large associations of companies and firms that operate not only within the country, but also abroad. The first of them appeared in the second half of the XNUMXth century. and were associated with activities in the field of mining and marketing of mineral raw materials. In the second half of the XX century. the scope of their activities is expanding, moreover, they are already operating on a global scale.

Their emergence is associated with the development of the division of labor and cooperation. The specialization of the enterprise contributes to an increase in the scale of production, and this is typical for any business entity.

International corporations are generally divided into three groups: transnational corporations (TNCs), multinational corporations (MNCs) and international corporate unions.

multinational corporations - These are production associations of international firms, and these firms are owned by owners from different countries. National companies are united on the basis of technologies and scientific developments.

International corporate unions are most often consortiums in organizational form. These are associations of concerns to solve certain economic problems.

Transnational corporations - These are companies controlled, as a rule, by the shareholders of one country. But they also carry out their activities in other countries through the creation of branches and their subsidiaries, which have their own sales, production, etc. services.

TNCs do not operate in all industries. Most transnational corporations are in the oil, chemical, automotive and electronics industries. This is explained by the fact that in these areas it is easier and more profitable to create international production associations.

TNCs have a number of advantages over other participants in international economic relations. First of all, it is a large area in which they carry out their activities. Having their branches in foreign countries, they trade their goods without paying customs duties. Because of this, they use the resources of other countries. These are not only natural resources, but also human and scientific and technical potential.

Thus, transnational corporations widely use the advantages of international cooperation and division of labor. They operate far beyond the borders of their "native" country and, forming interethnic complexes, have a significant impact not only on the economy of individual countries, but also on the state of world trade as a whole.

28. Operations of TNCs

Over the last decade of the XX century. the number of TNCs and their affiliates has increased several times. Already in the late 1980s. they became the main suppliers of goods and services to the world market. The growth of world production of goods contributes to the development of world trade. The service sector requires the close proximity of the seller and the buyer, here production replaces trade.

TNCs are the main subject of the export of capital in the form of foreign direct investment (FDI). In essence, the firm takes on the status of a transnational due to the export of capital. The volume of export of global accumulated investments from 1980 to 2000 increased 14 times (from $500 billion to $7 trillion). At present, in developed countries, most of the accumulated FDI is in the service sector, and in developing countries - in the manufacturing industry.

TNCs are the main source of the basis of modern competitive advantages - technology. About 90% of all R&D expenditures are in developed countries, of which 90% are in 7 developed countries, and only in the USA - 40%. The innovative activity of TNCs is also manifested in the transfer of payments for patents and licenses and royalties.

At present, there are more than 60 thousand TNCs. The 90 largest of them play a huge role in the global economy. The list of the largest hundred TNCs practically does not change in terms of composition. Almost XNUMX% in it are the EU countries, the USA, Japan. Two-thirds of this hundred account for the food, automotive, electronics and electronic equipment, chemicals, oil, and pharmaceuticals.

In 1990, the concept of "transnationality index" appeared. It is calculated by the share of foreign assets, sales and employment. From 1991 to 2000 it increased from 51% to 56% mainly due to employment and sales. Assets grew faster in home countries than abroad. Companies from developed countries with a small territory and companies from Canada have a higher transnationality index. They have a smaller domestic market. In 2000, some of these companies had a transnationality index of up to 98%. But of the ten TNCs with the highest transnationality index, four were British. The most "transnational" industries in developed countries are food and pharmaceuticals, and in developing countries - transport, woodworking and pulp.

In the list of TNCs in Central and Eastern Europe, Russian companies occupy a leading position. All of them are engaged in the oil business or transport, i.e., they are employed in capital-intensive industries.

29. The influence of TNCs on the world economy and the formation of modern international economic relations

The emergence and further development of transnational corporations greatly influenced the world economy of individual states and the development of international economic relations.

There are several types of branches and subsidiaries.

1. TNCs and subsidiaries dealing with raw materials.

2. Branches and subsidiaries specializing in the development of import-substituting industries.

3. Branches focused on the production of products, which are then exported.

Increasingly participating in the national economy of developing countries, transnational corporations occupy a leading position in some very important industries. TNCs contribute to the development of those sectors of the economy that are associated with their activities, can change the structure of the national economy and expand the participation of this state in international economic relations.

Transnational corporations influence the global economy as a whole. They occupy a dominant position in a number of industries both in individual countries, regions, and in the global economy as a whole. And this is not only in production, but also in trade. TNCs invest in the economy of various countries: they develop their enterprises on their territory and contribute to the development of other industries.

TNCs contribute to the international division of labor, production and development of science and technology. Despite the fact that wages in the company's branches are lower than in the home country, they are still often quite high for developing countries.

The activity of transnational corporations is connected with the interests of their states.

Transnational corporations allow their state to access the resources of other countries. In addition, products manufactured abroad will not be subject to duties from the state where these products were produced.

As can be seen from the foregoing, the economic and political significance of transnational corporations is very high. They help develop mutual understanding, trusting relations with partner countries, and strengthen economic influence on the world economy. Thus, the state should, to a certain extent, help the development of its TNCs, which is also relevant at the moment for Russia, which seeks to strengthen its influence on a global scale.

30. TNCs and the state in the 1990s

TNK by the end of the 1990s. took the place of one of the two most important subjects of the IEO. The relationship between them has also changed. In the past, at the turn of the century and into the 1970s, there were even bursts of confrontation between international monopolies and governments, leading to such extreme measures as the nationalization or expropriation of foreign assets. But for the most part, the divergence of interests expressed itself in what types of economic activity and what behavior the state expected from TNCs (and their affiliates) and how the income from these activities would be distributed. Issues such as the protection of technological secrets, ensuring monopoly power in the market, the impact on the environment, tax avoidance through transfer prices were the subject of heated debate in the 1970s, which was reflected in the documents of international economic organizations, including number in the UN system.

However, political and economic changes in the world economy, combined with the information revolution, have created new conditions for relations between the state and TNCs. Since the mid 1980s. the general tone of discussions on these issues changed from confrontational to partnership.

Areas of conflict remain, but the interdependence debate now takes place within the overall context of the globalization of economic activity and is less focused on the strategies and behavior of TNCs per se. There are a number of reasons for this change, but the main one is the change in priorities of national governments and their awareness in the 1990s. that, in order to achieve their social and economic goals, they must provide TNCs with at least the same favorable conditions for access to their markets and production as their main competitors.

By the end of the 1990s. it has become increasingly common to believe that the state and TNCs should be seen primarily as partners in the task of economic development and increase national competitiveness, and that the goals of both sides are beginning to coincide more and more. Governments should pay more attention to restructuring the value-adding activities of TNCs in their country, and not just trying to increase their share of the profits from these activities. One sign of this shift in attitudes has been the widespread liberalization of foreign direct investment regimes.

31. Specificity and main forms of international technological exchange

Technology is the ability of a person to do something in a certain way. These are the practical skills and abilities of a person that are the object of international exchange and are used to achieve specific practical goals. Technology is not the skills of an employee who has worked even in different areas, but the actions that he performed during work are. Thus, technology is aimed at solving some economic problem.

Not all technologies are subject to international exchange. The international exchange of technologies is an exchange of information concerning ways to overcome difficulties of an economic, industrial, managerial or financial nature that arise between the economic entities of countries in the process of reproduction.

Technology carriers are licenses, patents, technical documentation, specialized literature, products with the help of which it is produced.

The international exchange of technologies can be carried out free of charge or for a fee. Most of them are free. This happens for a number of reasons: often distribution occurs through non-commercial channels (at exhibitions, conferences) or illegally, and sometimes objects of intellectual work are not subject to registration of property rights.

It should be noted that the legislative framework for the protection of intellectual property has not yet been sufficiently formed. Another issue is the issue of technology compliance. It lies in the fact that there is often a violation of technological requirements in the production process, which can lead to environmental pollution, exacerbation of the raw material problem, etc.

There are the following main forms of international technology exchange:

1) research cooperation in the field of science and technology;

2) dissemination of technological information in the form of patents, licenses and contracts;

3) technological assistance to any country;

4) provision of such services to foreign clients as engineering, consulting;

5) export of human capital abroad;

6) training and probation of specialists abroad;

7) international trade in high-tech goods;

8) information support;

9) formation of systematized databases, libraries and archives of foreign information.

32. International technology transfer and intellectual property rights

The international exchange of technologies is becoming increasingly important and is expressed in various forms.

There are main types of technologies that are involved in international exchange:

1) agricultural technologies;

2) industrial technologies;

3) management technologies;

4) financial technologies;

5) marketing technologies;

6) service technologies;

7) information Technology.

For the effective development of international technology exchange, appropriate conditions are required: legal (protection of intellectual property in the territory of a foreign state), financial (crediting, insurance, improving the efficiency of financial settlement schemes), institutional (presence of international organizations that regulate international technology exchange), innovative (improvement already existing technologies and their further transfer).

Intellectual property is intangible assets, rights to the results of intellectual work.

The rights arising in relation to the objects of intellectual labor are divided into personal non-property and property. Non-property rights establish only the right of authorship. And property implies the right to use them.32б nie: the release of products with the help of new technology, operations with material objects in which intellectual labor is embodied.

The legal protection system already includes a number of guarantees: patent protection in a foreign country, protection of copyright and related rights, trademarks of manufacturers, license protection, protection from manufacturers using unfair competition, protection of trade secrets, etc.

The owner of intellectual property can obtain material benefit from the use of his invention by means of a license, which gives the right to use this property to another person. The right of ownership by the inventor is retained. Licensing allows you to regulate the use of the results of intellectual work. Thus, some people create intellectual property, while others produce a product with its help. There are different types of licenses that perform different functions: full license, exclusive license, non-exclusive license, open license, sublicense.

33. Russian TNCs abroad and foreign TNCs in Russia

The first direct foreign investments were made in the Russian economy in 1987. By 1996, in the Russian Federation, over 30 thousand firms and companies were already registered as enterprises with foreign capital, of which just over 17 thousand submitted information to Russian statistical bodies about the beginning of their practical activities.

At present, the largest TNCs have mainly switched to global strategies in their activities and locate their enterprises in those countries where there are appropriate competitive advantages for this. The fact that 80 of the 100 largest TNCs in the world are now present in Russia in one form or another is evidence of our country's actual inclusion in the global process of globalization.

Given the scale of the Russian economy, cooperation with the largest TNCs, which are carriers of the latest technologies, can have a real effect, and in the era of "knowledge-based capitalism", cooperation with this group of TNCs is of paramount interest.

Moreover, TNCs operating in Russia are the most powerful in terms of such general indicators as foreign assets, sales, as well as the number of employees in foreign enterprises.

Most of the TNCs began their development of the Russian market by creating conditions for the sale of their products, through investments in distribution networks, after-sales service systems, advertising campaigns, etc. However, some TNCs, having passed this path in an accelerated version, began to create in cooperation with Russian partners joint ventures for the development of project documentation, the production of industrial designs, including those for series-produced goods. TNCs are represented in fourteen industries, most notably in the electronics and electrical industries, automotive, oil production, chemistry, food and flavor industries, pharmaceuticals, trade and other services, etc. In terms of direct investment in the Russian economy, American capital ranks first.

The first direction that aroused interest on the part of these TNCs in Russia was the establishment of sales, and then the assembly of the so-called screwdriver production of electronic computing equipment. But over a relatively short period of time, the activity of TNCs in this promising Russian market has noticeably weakened as a result of competition between South Korean and Russian suppliers.

34. Historical background, causes and main centers of migration

Migration is the movement of people from one country to another. This movement of people has always been typical. This was due to the policy of conquest or the migration of peoples.

Today it is to a certain extent a manifestation of human freedom and a sign of the ever-increasing internationalization of the economy, as well as the consequences of contradictions of a national nature. People migrate voluntarily, wanting to live in better conditions, and involuntarily, due to certain life circumstances. The problem of migration of the latter requires certain measures and efforts not by any one country, but by the entire international community. Today, labor migration has taken on such a scale that some regulation in the field of migration policy is required.

International migration has arisen due to a gap in the level of socio-economic development of various countries, as well as due to a population explosion in many developing countries.

On a geographical basis, intercontinental and intracontinental migration are distinguished.

Recently, the situation in the migration sphere has changed somewhat. The European Union has become one of the main centers of attraction for migrants. But their main part is the mass migration of workers from less developed countries with low qualifications.

Another center of attraction is the oil-producing countries of the Middle East.

The third center is the United States of America. Historically, some of the workers come to this country from abroad. This was facilitated by documents that favor the labor activity of migrants in the United States.

The fourth region is Australia. Its difference lies in the fact that the policy towards visitors is aimed at their assimilation, i.e., at adaptation in a new country and the possibility of further residence in it.

The fifth international migration region is the Asia-Pacific region. In this region, the most developed countries employ people from poorer countries, but mostly unskilled workers are required to perform menial work.

The sixth center - some of the most developed countries in Latin America. These countries are interested not only in cheap labor from the poorest countries of the same region, but also in qualified specialists, including those from the former USSR: chemical engineers, oil workers, etc.

There is also an African migration center - mainly South Africa.

Speaking of Russia, it should be noted that it is the center of attraction for workers from the countries of the former Soviet Union.

35. Positive and negative aspects of migration

External labor migration is an outflow of labor from less developed countries to economically more prosperous ones, followed by the return of migrants to their homeland.

Such migration is undoubtedly beneficial for both parties, but it also opens up a number of socio-economic problems. These include "brain drain", spending money earned on the territory of another state. There is also a problem in which an employee abroad does not work in his specialty, obtained at home, but performs unskilled work, as he cannot fully realize his potential in a foreign country due to objective reasons.

The countries to which these workers come benefit in some way: a cheap labor force appears, as many visitors, due to their difficult financial situation, get jobs that are considered low-paid for developed countries.

But there are also positive consequences of labor migration. For countries from which there is an outflow of the population, the benefit is that on their return these people bring their savings, which they can invest in their own business. Immigrants contribute to the normal operation of some labor-intensive industries that have little demand from the population.

Another benefit for countries receiving migrants is that due to qualified personnel from abroad, funds are saved on training their own specialists in their own country.

Countries - exporters of labor resources receive the benefit, which is expressed in the reduction of unemployment in this country. Numerous studies conducted in this area show that the outflow of part of the labor force has a positive effect on labor markets, increasing the average income level of the poorest segments of the population.

Emigrants abroad acquire new knowledge and experience in various fields, which they can apply in their own country. They master new technologies, join new standards of production organization. Upon returning to their homeland, they can improve the production process and socio-economic development in general.

Not the last role is played by remittances of migrant workers. They send part of their earned money to their family, relatives, close people who spend it, of course, already on the territory of their country. Such transfers are of great importance for the economies of the poorest countries and contribute to the improvement of the financial situation.

36. State regulation of migration flows

Each state is trying to regulate migration processes, as it is interested in attracting the most needed workers at the moment, and at the same time, not a single country in the world wants the most qualified personnel to go abroad. In this regard, in almost all developed countries of the world, special bodies have been created that deal with the penetration of foreign workers into domestic labor markets. The federal authorities deal with the issue of visas, establish the procedure for their issuance. There are services that control the entry and stay of foreigners in the country, which can even deport in violation of the law. In addition, before issuing a work permit in this country, the situation is analyzed and a permit is issued if there is a real need to attract foreign labor.

Migration is limited quantitatively. To do this, several countries conclude international agreements among themselves, which stipulate actions regarding migrants from these countries, including their quantitative limitation.

There is a rather complicated system of restrictions for immigrants that foreign citizens face. This is primarily a diploma of education, although a diploma from one country is not always recognized by another country. This includes work experience (at least 3-5 years) in the specialty received. There are also age restrictions. This is due to the fact that labor-importing countries want to hire people of the most able-bodied age, from whom the greatest return can be expected.

Many industrialized countries have some health requirements for foreign workers.

In order to maintain stability in one's own country, access to certain countries is restricted for persons who have been convicted of serious crimes in their homeland and whose residence on its territory may damage the reputation of that state before the international community.

Regulation also occurs with the help of other restrictions that do not concern the qualities of a particular person. The state can establish the ratio between foreign and domestic workers, regulate the time of work in a given country, prohibit foreigners from engaging in certain types of activities, etc.

Recently, the measures applied to violators of migration legislation have been tightened. For this, not only heavy fines are charged or deported, but they can also be prosecuted. Sanctions apply not only to migrants, but also to their employers who benefit from the use of illegal migrants.

37. Migration policy in the Russian Federation

As for Russia, it has not been spared the problems associated with labor migration. After the collapse of the Soviet Union, migration processes began on its former territory. in Russia in the 1990s. turned out to be a huge number of refugees from the CIS and Baltic countries. The reason was the difficulties of an economic, political, interethnic nature, etc. Economic difficulties contributed to the outflow of experienced highly qualified specialists from our country.

Under these conditions, the government was forced to develop and implement an active migration policy.

Firstly, a legislative framework was created: the procedure for the exit of Russian citizens and the entry of foreigners was determined, control over migrants was established, etc.

Secondly, the Russian government took measures to mitigate the consequences of those intensive processes that began immediately after the collapse of the USSR, took over control of migration flows.

Thirdly, the Russian Federation has concluded international agreements with Germany, China, Finland and other countries. Such norms provide citizens of Russia with certain rights and guarantees in matters of employment abroad. This is also helped by special firms that have been issued licenses for registration to work abroad.

As for the emigration policy of Russia, its main directions are highlighted here: reducing unemployment, raising funds through remittances from emigrants to their homeland, ensuring the rights and support of Russians working abroad, acquiring new skills for them and applying them in the future after their return.

It is of great importance to create favorable conditions for those citizens who have decided to return to our country. It is necessary to create special structures that could provide real assistance to such people, would give them the opportunity to receive tax benefits and use preferential lending schemes for these people. It is important to provide the possibility of duty-free import of means of production so that migrants can carry out production activities on the territory of our country.

Thus, the consequences of labor migration are ambiguous. The state should solve the problems that arise in this area with the help of migration policy. But for an effective result, the interaction of both individual countries and the entire world community as a whole is necessary.

38. Objective foundations and essence of regional economic integration

At the present stage of development, the dependence of the economies of various countries on each other is increasing, national economies are becoming more open to the outside world, and, consequently, integration trends are intensifying.

Today, researchers do not have a unified theory about the reasons for the development of integration and the advantages of the countries included in these associations. And yet, the formation of a regional economic grouping cannot be caused by any single factor.

After the administrative-command system showed its inefficiency, practically in all countries an economic base of the same type began to take shape, based on the introduction of market mechanisms into the economy. The intensive development of science and technology, which requires a lot of effort and resources, also contributed to integration. In addition, the "closed economy" reduces the efficiency of economic activity.

International economic integration - this is an objective and natural process of convergence and interpenetration of economic systems, provided that they have the appropriate potential.

Economic integration is based on the desire of independent economic entities to satisfy their interests and the international division of labor. There are other prerequisites for unification: economic recovery in integrating countries, geographical location, political decisions of leaders, joint actions to resolve certain issues and the creation of a kind of integration center that takes responsibility for bringing partner countries closer together.

It should be noted that real interstate integration is possible only with the existence of market mechanisms. It starts with primary economic actors and splicing at the basic level. And only then do state structures, systems and bodies adapt to the new situation, up to the emergence of supranational governance.

Regional economic integration opens up new opportunities for investment, development of joint projects, research and expansion of industrial activities.

Regional economic integration has covered almost the entire world. It involves not only the most developed, but also medium-developed countries, as well as some third world countries. The countries with "clumsy" and slowly developing economies, in which there are no tendencies to improve the existing situation, turned out to be on the sidelines.

39. Evolution of integration processes. Main forms of regional integration

In its development, international economic integration goes through a number of stages. Currently, there are five such successive stages: a free trade zone; Customs Union; single market; economic union; economic and monetary union. All these stages are united by the fact that certain economic barriers are eliminated at each of them.

First stage - Free trading zone. This is a special zone within which there are no customs duties and restrictions on international trade are minimized. But for agriculture, liberalization is not carried out in full and only for a part of agricultural products. As a rule, parties entering into agreements cannot unilaterally raise duties or introduce new ones. All decisions are made by the officials of these countries and high-ranking leaders. National producers are not always ready to withstand competition from foreigners who produce cheaper and better products. For them, there is a danger of being squeezed out of their own markets and even bankruptcy.

The next level of regional integration is Customs Union. This is an agreement providing for the abolition of customs duties in trade between the countries that have concluded it. At the same time, uniform tariffs are created for external countries. This is a kind of collective protectionism. According to a number of indicators, the customs union is a more perfect structure than a free trade zone.

single market - a higher level of integration. For the development of the customs union into a single market, economic factors alone are not enough: political ones are also needed. Within the framework of the single market, several major tasks are being implemented. A policy is being developed in relation to third countries, the line of development of industries and sectors of the economy is being determined, and the possible social consequences of these decisions are also taken into account. Another important task is to remove obstacles to the free movement of labor, capital, services, etc.

Transition to a qualitatively new level of integration grouping - economic union - possible after the creation of a single economic, legal and information space. At this stage, the coordination of policies in the field of taxation, industry, agriculture, etc. is carried out. This is a kind of transition to an economic and monetary union.

Economic and Monetary Union - the last stage of international regional economic integration. It is based on the unified policy of countries in the monetary and financial sphere and the introduction of a single currency.

40. The main centers of integration processes in the modern international economy

The beginning of the integration of Western European countries was laid by the Paris Treaty establishing the European Coal and Steel Community, signed in 1951. And in 1957, the European Economic Community was established, which was based on a customs union and a common policy in some industries.

This integration grouping has come a long way in its development. A single economic space was created, customs barriers were abolished, uniform norms and standards were established. A single policy is being pursued in relation to industries, with the exception of energy, politics, and transport. And there are objective reasons for this: dependence on external supplies of energy resources, the isolation of the transport market at the national level, and the development of only general approaches to industrial policy.

Another economic bloc - NAPHTHA. But this association opens up the possibility of creating a single space in which goods, services, capital, and labor can move freely. Now NAFTA is taking steps to gradually eliminate tariff barriers and remove restrictions on exports and imports, except for certain goods, the list of which is agreed in advance.

APEC. It can be said that APEC is just beginning its path to a lasting alliance. It is planned to gradually reduce customs tariffs and develop cooperation in such sectors as transport, energy, etc. Interaction is most effective in political matters, and as for the economic aspect, here the ties are not yet strong enough.

The largest integrated market in Latin America - MERCOSUR - the common market of the countries of the Southern Cone, created in 1991. The agreement provides for the creation of favorable conditions for the development of partnerships: the abolition of customs duties, the abolition of tariffs, the free movement of capital, etc. In addition, policy is coordinated in many sectors.

Integration processes have not bypassed African countries. Among the most effectively functioning integration groupings, it should be noted African Economic Community (AfES), Economic Community of West African States (ECOWAS), Southern African Development Community (SADC), Customs and Economic Union of Central Asia (UDEAC). In addition to these groups, there are formally several dozen more, but in fact they either do not function or their work is ineffective.

41. Commonwealth of Independent States: modern model of economic integration and interests of Russia

Commonwealth of Independent States - an integration entity created in 1991, which included sovereign states: Azerbaijan, Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Uzbekistan, Ukraine.

Today, the CIS faces considerable problems.

The share of trade between the CIS countries from 1991 to 2000 fell from 72% to 28%. The integration mechanism, despite the huge number of documents designed to develop cooperation, does not work well. Perhaps the main reason is that integration begins with primary economic actors. It is impossible to create an integration grouping only through political decisions.

Any regional integration grouping should be created in stages. From this point of view, significant mistakes were made in the creation of the CIS. And that is why the participating countries failed to create a single ruble zone, since there were no such prerequisites for this as free trade zones, a customs union, a single market. But on the example of the EU, we see that integration should be carried out gradually and it is impossible to recreate only some individual elements and expect an instant result.

On the other hand, the CIS has a good documentary base: the Charter, various acts and other constituent documents have been adopted. Supranational bodies have been created: the Council of Heads of State, the Council of Heads of Government, the Council of Foreign Ministries, the Interstate Economic Committee, the Economic Court, etc. Special bodies have also been created for cooperation in certain sectors and structures designed to develop integration cooperation.

Further integration of the CIS countries should be carried out in accordance with the specifics of these countries, and not by automatically transferring the European experience of integration. And although the EU today is the most stable integration entity, the CIS has its own characteristics, which are largely associated with the Soviet past.

Speaking about the expediency of further efforts to create an alliance, it should be noted that integration is in the interests of these countries. Otherwise, most of the CIS members may simply be "absorbed" by other groupings, where their interests will not be taken into account to the same extent as in the CIS, and they will not be able to play any significant role. Further development of integration is also beneficial for Russia, which needs strong economic ties and strategic partners. There are not only long-standing economic, but also political and cultural ties between the CIS countries, which, under certain conditions, can speed up and simplify integration.

42. Balance of payments and its types

The balance of payments is the ratio between all payments that a country has made to other countries and the sum of all funds that it has received during the same time from other countries.

The balance of payments includes exports and imports of those goods for which payments were made during a given period of time.

Transactions of a given year between residents of these countries are taken into account. Residents of any country are firms registered in the territory of this state. The same applies to branches. The only exception is international organizations: they are not residents of the countries where they are located.

The balance of payments reflects precisely the aggregate transactions between states. It is usually completed within a year.

As for the history of the balance of payments, it should be noted that initially it was formed as a method of statistical and informational accounting in order to perform tax functions. At present, it acts as a source of information that makes it possible to highlight the features of the country's participation in international activities.

In accordance with world practice, the balance of payments is compiled on the principle of double entry (double counting). The essence of this method is that each operation is recorded twice, in terms of income and expense, for example, the receipt of goods and its payment. Therefore, the balance is always in balance.

There are several types of balance of payments.

1. Trade balance.

2. Balance of trade and services.

3. Current account balance.

4. Basic balance.

5. Balance of offline accounts.

6. Liquidity balance.

7. Balance of international investment debt.

Disproportions may arise in the balance of payments. This can happen for various reasons: changes in prices, income levels, structural imbalances, autonomous movement of significant masses of capital.

The balance of payments is an object of state regulation. There are a number of reasons for this:

1) the balance of payments is characterized by imbalance, which manifests itself in a deficit in some countries and in excess in others;

2) the balance of payments cannot equalize on its own after the abolition in the 1930s. the gold standard, and, therefore, targeted measures are required to regulate it;

3) the increase in the value of the balance of payments in the system of state regulation is due to the increasing internationalization of economic relations.

43. Russia's balance of payments, its external debt

In the Soviet Union, the balance of payments was considered a secret document and was never made public. Since 1992, the balance of payments has been compiled in accordance with the requirements of the IMF management. Russia's balance of payments is compiled on a quarterly basis. It consists of sections on current operations and operations with capital and financial instruments. Today, the economy of our country is developing more dynamically. And as confirmation, we can consider the balance of payments of Russia for the first quarter of 2006. During the year, the gross domestic product increased by 5,5%, industrial production growth amounted to 3%, inflation slowed down, and the standard of living of the population increased. There was also an increase in the ruble exchange rate index against foreign currencies by 6,2%.

The state regulates the balance on the basis of state ownership, increasing the share of national income redistributed through the budget, through the adoption of certain measures at the legislative level, as well as through the active participation of the country in international economic relations.

The measures taken by the state in the economic sphere are aimed at forming the balance of payments and covering the existing balance. There are many methods aimed at stimulating exports, restricting international economic transactions, etc.

Foreign economic relations expanded, which contributed to economic growth. The balance of payments of the state was stable.

The surplus of current operations increased sharply compared to the same period of the previous year - by 44,7%, and trade turnover - by 30% with the growth of external and internal demand. Foreign trade conditions were favorable. As a result, the trade surplus increased by 1,5 times.

The export of goods also increased, but mainly due to the price of fuel resources. Imports also increased, and a large share was the import of machinery, vehicles and equipment.

In the service sector, the increase was due to transport and business services, and imports of services - due to travel and transport services.

Thus, Russia is developing dynamically, and its balance of payments is stable, which indicates positive trends in economic development.

44. Exchange rate and its impact on foreign trade. The factors that form it

Today, one of the most promising areas for the development of international economic relations is international currency relations. They arise in connection with the use of money in the implementation of international transactions.

The concept of currency denotes: the monetary units of a country, foreign states and international accounting currency units.

The exchange rate is the ratio between two different currencies, which is established under the influence of supply and demand in the market or is determined by law.

The exchange rate is formed under the influence of many factors. The basis is the purchasing power of the currency. It, in turn, determines the average price level in the country and investment. But its value also depends on inflation and the balance of payments. The exchange rate can be influenced by the central bank of the country, intervening in transactions in the foreign exchange market.

The degree of confidence in a foreign or national currency and changes in the economy of a given country can greatly influence the exchange rate. These factors also influenced the Russian national currency.

The exchange rate can be nominal or real.

Nominal exchange rate - this is a kind of "price" when exchanging one currency for another. Exchange rates published in the media are nominal.

The real exchange rate is obtained by multiplying the nominal exchange rate by the ratio between price levels in countries. Also, the real exchange rate can be calculated on the basis of average prices in countries that are the main trading partners of this country.

The exchange rate largely affects international economic relations.

1. It helps to predict future financial results of economic activity and, therefore, determines the most beneficial economic relationships.

2. It directly affects the socio-economic situation of the country, which is manifested in many other indicators, for example, in the state of the balance of payments.

3. It has an impact on the redistribution of the total world gross domestic product between individual countries.

45. Organizational and legal foundation of the modern monetary and financial system

The emergence and development of the world monetary and financial system was due to the development of international economic relations and mainly trade. When carrying out trade operations, it was necessary to determine the ratio of national currencies to each other. This prompted the monetary system to develop.

The very first monetary system was formed in 1867. At the Paris Conference, an interstate agreement was concluded, according to which gold became the only form of world money.

The gold standard had varieties: the gold standard (banks freely minted coins until the beginning of the 1922th century), the gold bullion standard (gold was used in the case of international settlements - from the beginning of the XNUMXth century until the First World War), the gold exchange standard (gold and currencies were used in calculations other countries - from XNUMX to World War II).

Gradually, she showed her weaknesses: after all, with the strengthening of economic ties between countries and with economic development, she could not really cope with all the cash flows.

After the war in 1922, at the Genoese Economic Conference, a new currency system was created - the Genoese. A gold-motto standard was established, which was based on gold and currencies convertible into gold. The mottos were called funds in foreign currency intended for international settlements.

During the war, despite the fact that exchange rates were frozen, inflation grew, and in these conditions, gold again began to act as a reserve and means of payment. The exchange rate has lost its meaning. This prompted countries to develop a new system during the war, since the Genoese practically ceased to function, since there was a threat of a repeat of the crisis of the 1930s.

In 1944, the Bretton Woods monetary system was adopted at the UN Monetary and Financial Conference.

Since the end of World War II, there have been six major currency areas in the world, including the US dollar, British pound sterling, French franc, Spanish peseta, Portuguese escudo and Dutch guilder, with the French currency area being the most stable of these.

All this led to the fact that in the late 1960s. the crisis of the Bretton Woods monetary system.

In its development, the crisis of the Bretton Woods system went through a number of stages: a double gold market was established, then the exchange of the dollar for gold was temporarily prohibited, the devaluation of the dollar, and then at the International Paris Conference it was decided to set exchange rates in accordance with the laws of the market.

46. Jamaican system. Reforming the IMF

The crisis of the Bretton Woods system gave impetus to the development of new projects for reforming the monetary and financial sector. The reform of the system was developed for a long time, and as a result, in 1976, the countries - participants of the International Monetary Fund in Kingston (Jamaica) adopted a new agreement, ratified in 1974. Its main principles are:

1) instead of the gold motto, the SDR standard (special drawing rights) is established;

2) the official price of gold is canceled, the exchange of dollars for gold stops. Gold no longer serves as a measure of the value of exchange rates;

3) states can choose the exchange rate regime;

4) the International Monetary Fund strengthens currency regulation between countries;

5) the central banks of the state intervene to stabilize exchange rates;

6) the exchange rate is formed freely under the influence of supply and demand;

7) the new system is based not on any one currency, but on several.

According to the decision of the International Monetary Fund, any country can choose one of three exchange rate regimes: floating, fixed or mixed. There are different types of fixed rates:

1) the exchange rate of the national currency is fixed in relation to one chosen currency;

2) the rate of the national currency is fixed in relation to the SDR;

3) the rate of the national currency is fixed in relation to artificially created combinations of currencies; 4) the exchange rate of the national currency is determined on the basis of the moving parity. A very important role is played by a kind of special drawing rights - SDRs. In the Jamaican system, they are officially recognized reserve assets. In 1978, gold was replaced by the SDR as the standard of value.

To carry out these operations, the SDR Department was specially created, and today all the countries that are members of the IMF participate in its activities.

The IMF can create unconditional liquidity by issuing funds denominated in SDRs. SDRs are also issued when the IMF's Executive Board concludes that there is a shortage of available liquid reserves and needs to be replenished.

The Jamaican system has a number of advantages over the previous ones, but still it is also contradictory. The intended results were only partially achieved. One of the reasons is the existing freedom of a diverse choice of options for action within the framework of this system.

47. The problem of stability of the post-Jamaican global financial architecture

The World Monetary Fund has promoted globalization through liberalization. This is what led to the fact that in the 1990s. the world monetary system has become less stable.

Increasing aggravation of the crisis phenomena in the 1990s. in combination with attempts to resolve them, which was very costly, forced the world community to look for ways to stabilize the world monetary and financial system.

An important element of this "new architecture" is the strengthening of the monetary and financial systems of states and the liberalization of the movement of capital. The very term "financial architecture" was used in a speech by US President B. Clinton in September

1998 BC

The new financial architecture should become an international regulator that establishes responsibility for the prevention and settlement of international currency crises, i.e. certain rules of behavior and interaction are developed.

The reform of the international monetary and financial system began in the late 1990s.

The International Monetary Fund and the International Bank for Reconstruction and Development are called upon to ensure compliance with the rules in the field of monetary and financial policy of states.

It is worth dwelling in more detail on reforming the lending activities of the IMF. This provides for the IMF's obligation to prevent, resolve and contain financial crises, especially in countries where a market economy is just being born.

The post-Jamaican system does not eliminate the causes of crises. With the existing degree of freedom of currency conversion and capital movement, it cannot limit the freedom of investors and force them to give preference to the poorer and economically underdeveloped countries of the world. If it is unprofitable for them, then they will not invest, and if the situation worsens for them, for example, when interest rates are raised, they can generally move their free funds to other countries where the conditions for functioning will be more favorable for them.

Reforming the activities of the IMF in the credit sector, which is accompanied by the actual cessation of long-term extended lending, is used to implement programs for the structural regulation of the economy of the state, mainly with an underdeveloped or transitional economy. These functions are transferred to the World Bank, which will actually mean an increase in their cost.

Also regulation in the post-Jamaican system of the XXI century. subject to international monetary and financial markets, their reaction to the results of their supervision.

48. General provisions of international organizations

International organizations play a significant role in the modern world.

There are more than 4 thousand international organizations in the world, about 300 of them are intergovernmental. The most influential and authoritative is the United Nations.

Signs of an interstate organization:

1) membership of states;

2) the presence of a constituent agreement signed by the countries - members of the organization;

3) permanent bodies dealing with the tasks for which it was created;

4) respect for the sovereignty of the member countries of this organization.

Collecting these features together, we can define an international intergovernmental organization - this is an association of any number of states created on the basis of a constituent agreement to solve a problem or achieve a specific goal, having permanently functioning bodies and acting in accordance with the common interests of the states that are members of the into it, while respecting their sovereignty.

International organizations, depending on the nature of membership, are divided into interstate and non-governmental. Non-governmental organizations are not created on the basis of an interstate agreement: for example, the Association of International Law, the League of Red Cross Societies, etc.

International organizations, depending on the range of their tasks, are divided into universal (for example, the UN) and regional.

There are also other classifications.

The creation of an international organization is carried out in three stages:

1) development and adoption of the constituent document;

2) ensuring the material structure of the organization;

3) creation and maintenance of the functioning of the main bodies.

Upon liquidation, as a rule, the member countries of the organization sign a protocol on its dissolution.

All decisions of international organizations are taken by its bodies.

The decision may be taken unanimously, by a simple majority or a qualified majority, or without a vote. In international practice, it is more common to make decisions based on consensus.

49. United Nations, its activities

With the development of international economic relations, the deepening of specialization and the international division of labor, there is an increasing need for quick and effective decision-making regarding international problems and the economic activities of countries.

But still, the United Nations is primarily political in nature. This can be seen from the principles enshrined in the Charter.

The economic activity of the UN is carried out in four main directions.

1) overcoming global economic problems;

2) cooperation assistance to countries with different levels of economic development;

3) promoting the economic growth of developing countries;

4) search for solutions to problems related to regional development.

To solve these problems, the following forms of activity are used.

1. Information activity.

2. Technical and advisory activities.

3. Monetary and financial activities.

There are six main organs of the UN mentioned in the Charter. But within the framework of economic cooperation, three of them are distinguished: the General Assembly, the Economic and Social Council and the Secretariat.

General Assembly is essentially a forum for discussing the most important problems of an economic nature. The Assembly may, at its own discretion, establish organizations for international cooperation between states in various fields, such as the United Nations Conference on Trade and Development (UNCTAD), etc.

Economic and Social Council (ECOSOC) - next in importance after the General Assembly. He coordinates the activities of the UN in the socio-economic sphere. Its main functions are: qualified discussion and development of the main political line on the most important world issues, coordination of activities on socio-economic issues, research in the field of international cooperation and socio-economic development.

UN Secretariat - an administrative and executive body designed to ensure the normal functioning of the UN institutions and agencies that perform certain functions. Most of the employees of the Secretariat work for the economic service. The UN economic service includes several divisions, the largest of which is the Department of Economic and Social Affairs.

50. The role of the UN in the development of IER

Many UN organizations carry out their activities in the field of international economic relations. The Conference on Trade and Development, although it is not a trade organization, is attended by almost all countries - members of the UN. It promotes the development of world trade, ensures the observance of the rights of countries in cooperation, develops principles and recommendations, as well as mechanisms for the functioning of relations between countries, and participates in the activities of other UN economic institutions.

The United Nations Industrial Development Organization promotes the industrialization of developing countries. This organization provides both financial assistance and develops recommendations on the use of resources, setting up production, conducting research and development and creating special production management bodies.

The United Nations Development Program is a program to provide assistance to developing countries in the most important sectors of the economy. It includes technical, pre-investment and investment assistance.

The Food and Agriculture Organization of the United Nations is responsible for coordinating the activities of other organizations to provide material and non-material assistance.

The United Nations Economic Commission for Europe solves problems of an ecological nature, in the field of efficient use of energy and in the transport and forestry sectors (from the standpoint of ecology).

The Economic Commission for Africa provides advice on the economic development of the African continent. The Economic Commission for Latin America and the Caribbean performs the same functions, only for this region.

The Economic and Social Commission for Asia and the Pacific promotes regional economic cooperation, technology transfer, investment and infrastructure development in the region.

The Economic and Social Commission for Western Asia creates favorable conditions for the development of cooperation in various fields and strengthens economic relations.

Thus, the UN plays an important role in regulating international economic relations. And despite the fact that there are certain difficulties in functioning, for more than fifty years the most important economic and political issues have been resolved with its help.

51. WTO and other organizations and agreements as a tool for multilateral regulation of international economic relations

Currently, the World Trade Organization (WTO) plays an important role in world relations. It is the successor to the General Agreement on Tariffs and Trade (GATT).

The World Trade Organization (WTO) was established in April 1994. It retained the general provisions of the GATT and aimed to ensure freedom of trade.

Currently, the WTO includes about 150 countries of the world. It accounts for almost 97% of international trade. The principles of conduct of countries that are members of the World Trade Organization have been developed over decades, and therefore this organization ensures, to the best of its ability, equality in the implementation of foreign trade exchange.

The liberalization of international trade within the framework of the WTO is beneficial to countries for two reasons:

1) when import tariffs are reduced, the relative price level changes, therefore, resources are redistributed in the direction of production, which leads to an increase in GDP and national income of the state;

2) in the long term, the economy of a country that has joined the WTO benefits from adapting to new competitive conditions, using new technologies in the production sector.

All this leads to the fact that high-quality and less expensive goods appear on the market that are available to the consumer.

The WTO assumes carrying out its own, independent policy. This organization independently exercises control over the execution of decisions and agreements adopted within its framework. It has bodies involved in the management and control of the activities of the WTO as a whole.

The International Monetary Fund was established to regulate the financial relations that arise between countries and to help with currency difficulties through the provision of loans in foreign currency.

The IMF was created in 1944 at the Bretton Woods conference. Its goals are to promote the development of the monetary and financial sphere, expand world trade, ensure the stability of exchange rates, etc.

The main governing body is the Board of Governors. In it, each country participating in this fund is represented by a manager and his deputy.

The International Monetary Fund is organized as a joint-stock company: its capital is formed from the contributions of the countries included in it. Each country has a certain quota.

52. Participation of Russia in the structures and mechanisms of multilateral economic cooperation

Analyzing the role of Russia in international structures and mechanisms of economic cooperation between different countries of the world, one should touch upon activities within the framework of the most influential organizations.

In general, the data show that our country does not participate in their activities to the full extent of its capabilities and could occupy a more worthy position both economically and politically.

Russia's share in world exports of goods and services is estimated at only a few percent, and even less in imports. This shows the still low level of our country's involvement in international trade.

Europe is Russia's main partner. It accounts for most of the exports and almost half of all imports. The share of Germany in this is very large, which is due to long-standing historical ties, the high quality of goods produced on its territory, relatively low purchase prices and, of course, a relatively close location.

As for the commodity structure of exports, it should be noted that it has remained virtually unchanged for many years. It includes about 4000 different types of Russian-made products, but the main sources of income from them are oil, gas, forest resources, non-ferrous metals, and diamonds.

The structure of imports is dominated by machinery and equipment, as well as medicines, meat, alcoholic and other drinks, etc.

In the early 1990s Russia became a member of the International Monetary Fund and the International Bank for Reconstruction and Development. This allowed it to expand its ability to raise funds for restructuring and further development of the economy.

By taking part in the activities of world monetary and financial organizations, Russia joins the activities and experience accumulated by the international community in the field of regulation of the monetary, financial and credit spheres.

Russia closely cooperates with the European Bank for Reconstruction and Development. It also provided large loans to our country, which were mostly used to create venture funds, develop some targeted programs, etc. The EBRD often took part in lending to some risky projects from the point of view of investors. For example, he provided loans to shipbuilding companies.

To date, Russia has fully repaid its debts to international organizations, which allowed it to save a significant amount of money on interest. But, unfortunately, the possibility of early repayment of the debt arose largely due to high prices for energy resources, a major supplier of which is our country.

53. The ratio of internal and external equilibrium and the macroeconomic role of the balance of payments

Before talking about the macroeconomic equilibrium of an open economy, this concept itself should be clearly defined. According to the degree of involvement of a state in the international division of labor, countries with open and closed economies are distinguished.

A closed economy should be understood as an economic system, the development of which is determined only by internal needs, problems and trends. Such an economy is to a small extent subject to changes taking place in world economic interaction. Although economic ties with other countries are present, they are minimal at the same time.

An open economy is understood as an economic system, which in its development is subject to the influence of global trends. External ties are very strong. At the same time, countries receive both undoubted pluses and minuses: dependence on the international economic situation and exposure to global crises.

It is very important to ensure the balance of the foreign exchange market and the balance of payments. The balance of payments plays an important role as an indicator that shows the multilateral complex of relations between the state and other countries. This reflects not only economic, but also political, cultural and military ties between countries. The balance of payments is a value expression of the volume, structure and nature of the country's international operations and the degree of its participation in the world economic system.

An important role in this issue is played by the balance of current operations. In a closed economy, all products produced within a given country are sold there, and all costs can be divided into three parts: consumer spending, investment, government spending. But in an open economy, part of the output produced is subject to export, which means that the costs of non-residents of this state for goods or services produced in the country's territory should be taken into account when calculating the output.

Thus, the capital account and the current account are balanced, from which it should be concluded that international financial flows and international flows of manufactured products are closely interconnected.

Issues and problems related to external and internal balance are closely intertwined. The instruments by which the regulation of internal balance is achieved (monetary and fiscal policy) affect the state of macroeconomic equilibrium. This is also related to currency regulation, for example, with the system adopted in this state as the basis for setting exchange rates (floating or fixed).

54. Spending multiplier in an open economy

In general, a multiplier is a coefficient that shows the change in the level of investment depending on the change in income.

According to Keynesian theory, an increase in consumption, government spending, or investment leads to an increase in national income (total output), and this increase will be greater than the increase in any part of spending.

With an increase in investment, GNP growth will occur much faster, since investment leads to the so-called incremental effect. In addition to the primary results, there will be further effects, i.e., spending in any one area will automatically entail an increase in production and employment in other areas.

There are various multipliers: government spending multiplier, tax multiplier, etc.

In order to talk about a multiplier in an open economy, it is necessary to introduce into the analysis such an element as net exports. An increase in a country's national income leads to an increase in its imports due to the marginal propensity to import. Marginal propensity to import measures the extent to which imports increase when a government's national income increases by $1.

The marginal propensity to import is, to some extent, similar to the marginal propensity to save, since it is also essentially a "leak" from the flow of spending within the country.

The value of the multiplier calculated for an open economy will be less than for a closed one. This is explained by the fact that the cost of importing products, as well as savings, cease to be a constituent part of the aggregate demand for the domestic product.

Thus, according to Keynesian theory, an increase in aggregate demand through an increase in the national income of the state can in turn lead to an increase in imports. In this case, the balance of current operations of this country will worsen, which may lead to a decrease in the level of the balance of payments as a whole.

At the same time, it cannot be argued that the causes that cause an increase in national income will necessarily lead to a deterioration in the current account of a given country. If the increase in national income is due to an increase in demand for products manufactured in the territory of this state, then the current account balance will not only not worsen, but will improve.

Also, the current account balance will improve even when the growth of the country's national income is carried out by increasing the domestic production of goods and services.

55. Macroeconomic role of the exchange rate

The exchange rate has a huge impact on macroeconomics. With the help of the exchange rate, prices for goods and services are compared in different countries of the world. The competitiveness of domestic goods in the world market, the value of exports and imports also depend on the exchange rate.

Fluctuations in the exchange rate can show the economic and political state of society, its stability.

The exchange rate is taken into account in the development and implementation of monetary (monetary) policy.

For countries with economies in transition, the exchange rate serves to stabilize in the event of high inflation.

The concept of the real exchange rate is important. It evaluates the competitiveness of products manufactured in the territory of a given country in the world market. If this indicator increases, then goods and services abroad become more expensive, which means that consumers will prefer cheaper domestic goods to foreign ones. If this indicator decreases, then this will mean that the goods and services of this country have risen in price, and, consequently, they will be bought less.

With the growth of economic development, the share of capital increases in comparison with labor in industries that produce products oriented to international trade, labor productivity and, therefore, wages grow.

At the same time, the supply of goods that are not used for international trade decreases, followed by an increase in their prices, and, as a result, the general price level will also rise.

There is a direct relationship between the real exchange rate and net exports. The larger the depreciation, the lower the prices of goods and services produced in the country, the net exports will be larger, and, therefore, this leads to an increase in the current account surplus.

The real exchange rate is influenced by the fiscal policy of the government. An increase in state spending, as well as a reduction in taxes, leads to a reduction in national savings, a decrease in the supply of the national currency intended for foreign investment. This, in turn, will lead to an appreciation of the national currency and a reduction in net exports. This is all true for a small open economy.

In a large open economy, a decrease in world savings and an increase in the world interest rate cause a reduction in investment in a small open economy. There is an increase in loans provided abroad, which means an increase in the exchange rate. This, in turn, means an improvement in net exports through a decrease in the purchasing power of the country's currency.

56. Model of macroeconomic equilibrium in an open economy

Macroeconomic equilibrium has played a large role in economics since the Great Depression in the 1930s. It was at this time that macroeconomics itself appeared. DM Keynes proposed measures to achieve full employment through the regulation of domestic demand.

But in the context of the ever-increasing internationalization of economic life, macroeconomic equilibrium presupposes not only minimum inflation and full employment, but also an equilibrium system of external payments.

Current account imbalances, as well as large balance of payments deficits and rising external debt, could adversely affect the domestic economy. This can lead to an economic recession, a crisis in various spheres and sectors of the economy. But due to the close interrelations between different countries of the world, these consequences will manifest themselves beyond the borders of this state.

To achieve macroeconomic equilibrium, it is necessary to achieve internal and external equilibrium simultaneously. Internal equilibrium assumes the equality of aggregate demand and aggregate supply under the condition of minimum inflation. External equilibrium assumes a balanced balance of payments, a zero current account balance, a fixed level of foreign reserves.

If in the domestic economy macroeconomic policy is carried out with the help of monetary and fiscal policy, then for an open economy they use foreign trade, foreign exchange policy, etc. This, of course, implies a complication of macroeconomic relationships between countries of the world. This is done much more difficult, since it requires taking into account ever-increasing factors and conditions.

But in the course of implementing macroeconomic policy, a number of difficulties may arise.

Macroeconomic equilibrium cannot always be accurately described using an economic model.

If we are talking about the long term, then the national economy will react poorly to changes in the volume of money supply and the level of the exchange rate.

Authors: Nosova N.S., Ronshina N.I.

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