Global and Regional Aspects of Positioning Participants of the International Economic Integration

Abstract

The article discusses the target states of international economic integration, revealing the prospects and priorities of development of the regional and world economy on condition of optimization of existing and prospective resources. The aim of the study is to identify the determinants of complementarity of the interests of participants in the integration process at global and regional levels and the conditions for adaptation of their competitive advantages in the developing international economic environment. The subject of the study is the economic relations of participants of the integration interaction, the content of which determines the possibility of creating a synergistic effect in case of mutually beneficial activities and strengthening competitive advantages in the geo-economic space. The hypothesis about the influence of the ability to enhance market self-organization of various participants in the context of the balance of their interests on the strengthening multi-level integration processes is justified. The institutional approach in forming joint economic actions is considered as a systematic process of expanding relationships between participants of integration processes. The scientific contribution is presented by the substantiation of the methodological ideas on the positioning participants of international economic integration. The methods of institutional theory, analysis, and synthesis, logical and comparative methods were used. The conclusion presents recommendations aimed at expanding and deepening integration effects in the formation of differentiated market niches in the geo-economic space.

International Economic Integration of BRICS Countries–Driver of Regional and Global Economic Growth

“…It reflects the objective trend of the world development towards the emergence of a polycentric system of international relations with the strengthening of economic international integration of countries, "ensuring a balance of external influences and regional priorities and taking into account the interests of all participants". [1] In the present conditions, the transfer of economic power from the West to the East is characterized by a growing trend. The size of the economies of BRICS countries and the dynamics of their economic growth over the past 10 years, as well as the success in overcoming the global crisis, have given the BRICS countries solid reasons for transforming their economic potential into a political weight and for turning them into a driving force of the world economy.…”