The novelty of the article consists of the analysis of the Global Value Chains (GVC) which are the result of the development of vertical cooperation, the main actors of which are international, multinational and transnational companies (TNCs). The research is based on the system methodology as a part of the modern GVCs concepts. The researchers have marked the COVID-19 pandemic as a turning point that has had a significant impact on GVCs and therefore on economic globalization. They prove the changing character of GVCs from transcontinental to regional, acquiring the features of horizontal cooperation and contributing to the development of economic cooperation of economic entities of territorially bordering countries. The impact of GVCs on the development of the countries of the Eurasian region was evaluated from the point of view of further economic cooperation and integration. The role of the Shanghai Cooperation Organization as a platform for discussion and development of cooperation mechanisms of its member states is defined.
The novelty of the article consists in a systematic approach to the analysis of mutual settlements in the national currencies of the Eurasian Economic Union (EAEU) on the basis of the upward and downward connection to its integration development. The systemic approach has revealed the fundamental reason for the insignificant share of the mutual settlements in the national currencies of the EAEU (except the Russian ruble), which is caused by the incompleteness of the formation of a common market of factors of production and the preservation of barriers in this area and the need to address this problem. On the basis of the systemic riskology, the risks of dominance of the world currencies in the international settlements of the EAEU countries and the chance to reduce them as mutual settlements in the national currencies become more active, as well as the smooth decline of the US dollar and the euro, were identified. The advantages of mutual settlements in the national currencies based on the development of the integration processes in the economies and mutual trade of the EAEU countries have been substantiated and systematized. The important role of the EAEU Integrated FX Market at the Moscow Exchange in the development of mutual settlements in the national currencies has been revealed. Identification of drawbacks and risks of losses in mutual settlements in national currencies in the EAEU became the basis for the authors' proposals to reduce them and improve the efficiency of this mutually beneficial form of international settlements of the Eurasian Economic Union. Relevance of the article is due to the new EAEU documents "Main Directions for the Development of the EAEU till 2030", "Declaration on the Further Development of the Integration Processes within the EAEU". Keywords-Eurasian Economic Union (EAEU); mutual settlements in national currencies of the EAEU; risks of mutual settlements in the national currencies; chance to reduce the risk of losses in settlements; Integrated FX Market
The novelty of the article consists in the analysis of the "Concept of the Formation of the Common Market of the Eurasian Economic Union (EAEU) countries" on the basis of its interrelation with the process of reproduction taking into account the "Declaration on Further Development of Integration Processes within the Eurasian Economic Union". In this regard, the object of the analysis is the creation of a common financial market, mechanism of attraction and redistribution of the financial resources of the EAEU member states in order to develop a common market of factors of production. The subject of analysis is the development of the Eurasian economic integration. To this end, the authors set out to intensify the cooperation of the industrial production, agriculture and infrastructure projects, the development of criteria for the selection of the interstate projects and target programs for the EAEU countries in the development of the roadmap for the implementation of the concept of the EAEU common financial market proposed to specify its functional and institutional structure, focused on the socioeconomic development of the member states. Based on the theory of risk management, it was proposed to forecast the risks of operations in the EAEU common financial market and to use the chance to reduce them. Keywords-Eurasian Economic Union (EAEU); EAEU common financial market; common market of goods and services; production cooperation; risks of operations in the financial market; a chance to reduce the risk of losses I.
The article discusses the features of the functioning of national payment systems of the countries of the Shanghai Cooperation Organization (SCO). The specifics of the payment systems of the SCO countries are revealed, the emphasis is placed on their regional features. The role of central banks in ensuring the stable and safe functioning of national payment systems is highlighted. The importance of the supervisory function of central banks in order to control the payment system operators of the SCO countries is emphasized. Forecasts of the development of remote and digital technologies in the payment sector are given taking into account the influence of a new external factor (pandemic).
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.