Brics’ Foreign Debt Burden and its Impact on Core Institutional Basis

Abstract

Creation of a multipolar international economy and economic relations is accompanied by shifting gravity centers of international finances, redistribution of positions on the global market for financial services in favor of large emerging countries and countries with transitional economies. This post crisis period triggered serious problems related to international capital inflows and outflows at the BRICS states. This is all due to a slow recovery of developed countries; a high probability of a full-scale debt crisis in some E.U. states; mounting uncertainties following financial reforms in some states, etc. But raising debt as an important way to finance speedy economic growth and import of technologies to the BRICS countries make their financial systems more vulnerable to exogenous stresses and shocks, which result in an unreasonable firming of national currencies. In our research, we have identified the risks and misbalances of global development, which affect BRICS, evaluated the influence of foreign debt and singled out the key growth trends. We have revealed the importance of the New Development Bank development, which will help solve urgent problems of its participants connected with their growing role in international economic relations: the creation of a regional financing mechanism as well as a core institutional basis to represent BRICS' interests in the global financial structure and to become the missing link in interaction with global financial institutions.

Cluster as a form of Resort Development: Organizational and Managerial Structure

“…Model of the tourist cluster management structure When creating a tourist cluster, it is necessary to consider strategies for its development and determine the main stages of establishing a cluster. The strategy model for the formation of a regional tourist-recreational cluster involves several successive stages: cluster analysis of tourist destinations; development of a mission and the key development objectives; resourcing; organizational and economic mechanism for implementing the strategy; predictive assessment of the tourism cluster effects (Sozieva, 2009;Akhmadeev et al, 2018;Akhmetshin et al, 2017). Cluster formation is difficult; a simple increase in the number of tourism enterprises and facilities does not necessarily mean the beginning of a cluster formation.…”

VAT History, Computation Method, and Control

“…After the Revolution of 1917 and before the transition to the New Economic Policy, the tax policy was implemented in two main directions: the abolition of all types of obsolete taxes and the creation of new forms of taxation to solve the tasks of the Revolution. Thus, the abolition of the private landownership led to the abolition of the land tax (October 30, 1918) and the former land and city land taxes (December 3, 1918), the nationalization of industry resulted in the abolition of the trade tax (December 28, 1918); urban real estate tax (February 19, 1919) and cash tax (September 13, 1918) were abolished as well [15,18,20].…”

Technologies of Corporate Social Responsibility in Accounting and Statistics

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