DOI: 10.33917/es-5.197.2024.50-55

The article dwells on some current aspects of foreign direct investment (FDI) migration in Russia and abroad. The aim of the study is an attempt to theoretically reassess the role of monetary and credit mechanisms of FDI. The article provides information on the trends and pressing development problems of Russian FDI exports into the countries of Eurasian region and BRICS. According to the research, restrictive monetary policy in Russia is a significant obstacle to economic growth, foreign economic relations and FDI exports. Many economic indicators of the Russian Federation are negatively affected by the high key rate of the Bank of Russia. However, due to monopolistic structure of the Russian economy and many other factors, the restrictive monetary policy of the Central Bank of the Russian Federation often causes not only suppression of inflation and the increase in the production competitiveness, but excessive enrichment of a number of companies, banks and individuals at the expense of the economy as a whole. In the long term, in order to stimulate foreign direct investment, it seems feasible for the Bank of Russia to gradually shift from a restrictive monetary policy to a stimulating one, including for the purpose of optimal development of Russian FDI exports into the countries of the Eurasian region and BRICS.

References:

1. UNCTAD. World Investment Report. 2023. New York, United Nations, available at: https://unctad.org/system/files/official-document/wir2023_keymessages_en.pdfRRR

2. IMF. World Economic Outlook. Washington, DC. April, 2024, available at: https://www.imf.org/en/Publications/WEO/Issues/2024/04/16/world-economicoutlook-april-2024

3. Tatuzov V. Contemporary global economic crisis: Some conclusions for Russia and BRICS (taking into account Kondratieff long waves). BRICS Journal of Economics, 2020, no 1, pp. 25–40, available at: https://doi.org/10.38050/2712-7508-2020-8

4. Stiglitz J., Regmi I. The Causes and Responses to Today’s Inflation. Roosevelt Institute, 2022, available at: https://rooseveltinstitute.org/wp-content/ uploads/2022/12/RI_CausesofandResponsestoTodaysInflation_Report_202212.pdf

5. Key Rate Statistics. 2024. CBR, available at: https://www.cbr.ru/eng/hd_base/KeyRate/

6. СBR: Inflation and Consumer Sentiment. Inflation and Consumer Sentiment, 2024, no 4(88), available at: https://www.cbr.ru/Collection/Collection/ File/49132/Infl_exp_24-04_e.pdf

7. Macroeconomic survey of the Bank of Russia. October, 2024. CBR, available at: https://www.cbr.ru/eng/statistics/ddkp/mo_br/

8. FDI Database. 2024. New York, UNCTAD, available at: https://unctadstat.unctad.org/datacentre/dataviewer/US.FdiFlowsStock

9. The State Council on further optimizing the environment for foreign investment. Opinions on increasing efforts to attract foreign investment. Guo Fa, 2023, no 11, available at: https://www.gov.cn/zhengce/content/202308/content_6898048.htm

10. FDI database. Paris, OECD, 2024, available at: https://data.oecd.org/fdi/fdi-flows.htm

DOI: 10.33917/es-2.194.2024.16-23

The authors propose a vector for developing BRICS as an operator of an intercountry digital platform complex (IDPC), within the framework of which international economic transactions are accelerated, simplified and cheapened. Simplification and acceleration occur due to the fact that the documents, required for transaction, are prepared by ICPC algorithms in accordance with the current legislation of the countries and international standards. Cost reduction is achieved by reducing transaction costs, international multilateral clearing, optimizing logistics costs, introducing an internal electronic platform currency for mutual settlements, etc. In this case BRICS, receiving a commission of about 0.5% from each transaction, becomes independent of the budgets of participating countries and a self-sustaining international organization with significant influence in the field of international economic cooperation, including performing the international arbitration functions.

References:

1. Oleskin A.V. Setevoe obshchestvo: ego neobkhodimost’ i vozmozhnye strategii postroeniya [Network Society: Its Necessity and Possible Strategies for its Construction]. Moscow, URSS, 2016.

2. Budanov V.G. Metafizika, ontologii i stsenarii bol’shogo antropologicheskogo perekhoda: Nauka i fenomen cheloveka v epokhu tsivilizatsionnogo Makrosdviga [Metaphysics, Ontologies and Scenarios of the Great Anthropological Transition: Science and Phenomenon of a Man in the Era of Civilizational Macroshift]. Moscow, Institut obshchegumanitarnykh issledovaniy, 2023, 748 p.

3. Oleskin A.V. Detsentralizovannaya setevaya organizatsiya nauchnogo soobshchestva. Perspektivy i problem [Decentralized Network Organization of the Scientific Community. Prospects and Challenges]. Moscow, URSS, 2021.

4. Shokhov A.S. Rol’ Rossii v konstruirovanii mirovoy ekonomiki XXI veka: The New World Economy [Russia’s Role in Designing the World Economy of the 21st Century: The New World Economy]. Artificial societies. 2023. Vol. 18. Iss. 3. URL: https://artsoc.jes.su/s207751800026948-1-1

The author’s analysis of UN demographic statistics revealed two internal problems that objectively impede to the BRICS countries to become new drivers of global economic growth — reduction of economically active population and increase of the social burden on one working person in the form of reducing the potential support ratio. Projected labour shortage could trigger serious socio-economic upheavals in the nearest future.

The article examines the phenomenon of BRICS, which has now acquired a global visibility. The article focuses on the main potential of the BRICS countries — human capital, those demographic resources that, being combined with a growing economy and a standard of living, can break the current picture of the world.

BRICS countries today are the most intensively developing countries of the world economy, since they have a rich resource base, scientific and labor potential. According to leading economists it is economic growth of Brazil, Russia, India, China and the Republic of South Africa that will ensure the future economic growth of the world economy. At the same time, the BRICS countries are the largest agricultural producers, accounting one third of the world agricultural production. About half of the world’s pork volume and about one third of poultry and beef are produced at their territory. At the same time, there are certain trends of specialization of each country in the world agricultural market. All of above enumerates stipulate relevance to study of current state and development prospects of agriculture in the BRICS countries. The methodological basis of the study, results of which are presented in the article, are statistical methods for analyzing the level of development of agriculture and cross-country comparisons. They make it possible to obtain a quantitative assessment of the place of each country in the world market of agricultural product.

This article deals with the analysis of global financial imbalances that have emerged in the modern world. A review of the international division of powers at the stages of development of the capitalist world-economy is submitted in the article. The role of the BRICS countries as regards to overcoming global imbalances is defined. Formation of the complete balanced global financial system is the way to a qualitatively new stage of development in the world economy.

The paper dwells on the prospects of labor globalization with the help of online-controlled bots and networks structures. It specifies directions and amount of investments for technological and infrastructural renaissance of BRICS and EAEU countries in the XXI century. The article proposes issue and backing principles for a new international currency as an investment source of infrastructure renaissance. The above measures should be implemented as an integrated project.

Crimean events — the significant information signal of the new world era beginning, the era that came to substitute the epoch associated with the Soviet Union collapse. In these circumstances, the strategic role of Russia as a guarantor — operator of the system for global and regional balances maintenance allows it to permanently integrate into the system mechanisms determining the contours of the global macroeconomic models and well-being of national and international economic and political institutions: Russia is back among the great powers.

The actual results of the Russian President’s visit to Latin America in summer 2014 and signed there documents allow to assume that the trip was quite pragmatic: to seize the opportunities for expansion of the Russian economic cooperation with close to us and friendly developing states. Cooperation, which has become even more important in the context of sanctions introduced by the West against Russia. In his interview with Alexander Ageev and Alexander Sidorov, director of the Institute of Latin American, Russian Academy of Sciences, Vladimir Davydov told about economic and geopolitical effects of the new vector of cooperation with Latin American countries.