• The Journal of Asian Finance, Economics and Business
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• v.4 no.1
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• pp.51-58
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• 2017

The aim of the study is to assess the asymmetry of influence of factors of economic growth of national economies, which are included in the integration. Unlike previous research, the scientific significance of the obtained results consists in the use of a new method of study - external demand as a factor of economic growth, disaggregated into two components. The first is net exports mutual trade in goods within integration associations. The second is net exports of foreign trade in goods outside the integration. By use of these methods we have evaluated the contribution of these factors on economic growth of the Customs Union and the Common Economic Space (CU/CES), as well as Kazakhstan, Russia and Belarus. In the conducted analysis of scientific research was based on the fact that the economies of the member (CU/CES) are very different in scale, economic potential and volume of foreign trade. Based on this research we conclude: integration is developing successfully and efficiently only with the rise of the national economies of the member countries; to enhance economic growth and competitiveness of the countries of the Eurasian integration it is necessary to increase the volume of mutual trade of member countries of this integration.

• STI Policy Review
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• v.5 no.2
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• pp.20-42
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• 2014

The Brazil, Russia, India China and South Africa (BRICS) group has emerged as a collection of large economies which are outside the traditional groups of industrialised "first world" economies and which have altered the global distribution of economic power. The basis of their emergence is a combination of their size and growth rates, and the fact that they lie outside the established centres of global economic power. As such, they have "diversified" the power base of the global economic order. The question which is asked in this paper is whether the phenomenon of the BRICS goes beyond this to mark the start of a possible challenge to the neoliberal orthodoxy which emerged as the globally dominant policy paradigm since the collapse of the Soviet Union. This paper develops and uses a "modes of innovation" approach to explore the potential of the BRICS to constitute a structural rupture in the current globally dominant neoliberal mode of innovation. This question is important since, in the absence of this rupture, the remarkable development trajectory of the BRICS will serve to reinforce the legitimacy of the global orthodoxy. The paper first articulates the modes of innovation concept and then proceeds to locate the BRICS systems of innovation within the current globally dominant mode. On this basis it then provides an appraisal of the possible impact of the BRICS on the evolutionary path of the global system of innovation.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.77-88
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• 2021

The stock markets in the BRICS (Brazil, Russia, India, China and South Africa) countries are the leading emerging markets globally. Therefore, it is pertinent to ascertain the critical drivers of stock market development in these economies. The currrent study empirically investigates to identify the linkages between stock market development, key macro-economic factors and institutional factors in the BRICS economies. The study covers the time period from 2000 to 2017. The dependent variable is the country's stock market development and the independent variables consist of six macroeconomic variables and five institutional variables. The study employs a panel cointegration test, Fully Modified OLS (FMOLS), a Pooled Mean Group (PMG) approach and a heterogeneous panel non-causality test.The findings of the study indicate co-integration among the selected variables across the BRICS stock markets. Long-run estimations reveal that five macroeconomic variables and four variables related to institutional quality are positive and statistically significant. Further, short-run causalities between stock market capitalization and selected variables are detected through the test of non-causality in a heterogeneous panel setting. The findings suggest that policymakers in the BRICS countries should enhance robust macroeconomic conditions to support their financial markets and should strengthen the institutional quality drivers to stimulate the pace of stock market development in their countries.

• Proceedings of the KSR Conference
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• 2005.05a
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• pp.1132-1137
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• 2005

Trans-Siberian Railway (TSR) has been recently rising to the surface as the world important issue with Trans-Korea Railway (TKR). This can change transportation means from sea to railway and enhance Korean international position through the North-east Asian economic cooperaton with Russia. In particular, when 'Iron Silkroad' linking TKR is created, it can revitalize the underdeveloped East Russia and Far East's economies and Korean railway can play a key role as the North-east Asian logistics center and exerts a powerful influence on them. In addition, Korean railway expects to obtain economic benefits accruing to various value-added businesses such as IT, tourism, especially, transportation business from the East Siberia, the world largest reserves of energy to Korea. This study tries to find economic value analysis and guidelines on strategies of Korean railway with international logistics base built in Khassan (Vladivostok contiguity region) through the development of energy deposited around east of TSR.

• Journal of International Area Studies (JIAS)
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• v.13 no.1
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• pp.135-156
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• 2009

The two waves of EU enlargement in 2004 and 2007, have been milestones of European integration. While research has been conducted into the impact of these events on both the European and the global economies,1 there have been few attempts to assess the effects of EU enlargement and the introduction of the euro on countries such as Russia, which neighbour the EU but currently have no perspective of accession. This paper aims to provide an assessment of the effects that EU enlargement and the introduction of the euro have had on Russia, the largest country neighbouring the EU. In particular, it focuses on trade and investment links between the EU and Russia, as well as the use of the energy by Russian residents and authorities. Economic links between Russia and the EU are found to have strengthened considerably in the areas of trade, investment and other financial flows in recent years. Strong growth, particularly in Russia, as well as the high price of oil and gas, Russia's major export items, has facilitated this expansion of trade and finance. Moreover, available data do not suggest that EU enlargement has had a negative impact on Russia in terms of trade or investment diversion. Thus, the strategic partnership between Russia and the EU has been increasingly underpinned by an expansion of cross-border economic activities. Thus, the paper contributes to two broad strands of literature on this subject, namely the impact of regional trade and economic arrangements on non-member countries and the international role of currencies.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.19 no.4
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• pp.41-46
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• 2018

Recently, the importance of the northeast economies including Russia has been growing, and according to the Eurasian initiative policy, the enhancement of transportation, logistics and connectivity between the northeast Asian countries is emerging as one of the challenges for future growth. However, due to the different vehicle systems used in each country, the railway connections between countries are not operating smoothly. Especially, the couplers of the railway cars which pass through the countries of northeast Asia including Russia have different regulations, which render their shape and characteristics incompatible. In this study, we propose a method of interconnecting the AAR type coupler used in Korea and China and the CA-3 type coupler compatible with the Russian GOST standard, and verify that its structural safety conforms with each set of regulations. We analyze the possibilities offered by this method of interconnection by performing tests while developing materials satisfying the mechanical properties required for the freight coupler.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.29 no.3
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• pp.128-134
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• 2006

The most of national industrial complex were developed and supplied not according to the requirements of enterprise but the needs of the government. And it leads to current serious out of balance in demand and supply of industrial complex. Buckpyoung industrial complex started sale from when the industrial complex developed in 1995 however the unsold percentage of it was 67% until in October,2005. And this result was ranked the top in the unsold percentage among the 42 national industrial complex in korea. In this paper we research how to accelerate the sale of Buckpyoung industrial complex and to reinvigorate local economy and present the constitution of building material cluster and physical distribution system as the results of our research.

• Journal of the Korea Safety Management & Science
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• v.13 no.3
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• pp.123-132
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• 2011

Supply chain for the economic development of East Asian economic development model, the study's purpose is to establish. Korea, Japan, China, Russia and Asia, including North Korea and get the status of economic development by focusing on key issues and proposed solutions, within a few years of the coming of a new East Asian economic integration of new supply chain would like to prepare for the era. Weight The weight of the center to the center of East Asia, looking for techniques to approach the supply chain scenario, the economic development strategies and measures were studied. East Asia's economic potential value of the supply chain, identify and recognize the importance and benefits should be Presents detailed country-specific development strategies and leading Asian economies will have to pay the supply chain. Republic of Korea's leading East Asian economies in order to supply the industry, industry development strategy as detailed in the running to move. North and South Korea for economic integration, the era of supply-chain economy, you need to prepare calmly.

• Journal of International Area Studies (JIAS)
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• v.14 no.2
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• pp.499-524
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• 2010

The purpose of this study is to based on review of theoretical and empirical studies to assess the independence of central banks - the former Socialist republics, including the Russian Federation and Czech, Poland. In addition, the work is expected to clarify whether a link exists between independence and the most important economic indicators such as inflation, economic activity, the budget deficit. And The subject of this study are the formal and actual independence of national banks, as well as limiting factors: political and economic. Background investigation of the problem of independence of central banks from the fact that, according to many economists, it is essential to the successful development of a market economy. The effectiveness of any country's economy due to currency volatility, low inflation, high reliability of the banking system, etc. As far as the independence of monetary regulation contributes to these goals - one of the most actively debated issues in the world of economic theory and practice for a long time. The issue of central bank independence is extremely important for Russia, Czech, Poland. In the near future to the central bank has important tasks, among which are the transition to inflation targeting in the rejection of significant intervention in the foreign exchange market, as well as improving the sustainability of the national banking system. Transparency and independence of the Bank of Russia, Czech Republic, Poland, in my view, should be an important factor in achieving these goals. The countries of Czech Republic, Poland have already made a number of steps to bring the status of their banks to the European standards. Many other developing countries are also in the process of reforming their central banks and the improving conditions of their functioning. However, despite the fact that as a model for reform used by the central banks of countries with developed market economies, central banks in developing countries are still yet deprived of the legal, economic and political independence. A different situation exists in transition space. Because of significant differences in the views of the authorities in transition republics at the necessary level of independence of central banks and the exchange rate and monetary policy reform of monetary management in these countries led to different results.

• Korean Business Review
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• v.21 no.1
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• pp.91-117
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• 2008

Since the late 20th century, due to the globalization of markets and the rapid developments of information and communication technologies, the world has entered into the age of fierce competition. With their abundant low-cost labor, former communist countries such as China, Russia and East Europe and former low-developed countries such as India and Brazil have received foreign investments from major industrial companies. Thus, there are no other alternatives remained for Korea and OECD countries other than moving the industrial economies to the knowledge based innovation systems. In the knowledge based innovation systems, economic developments and employments of regions and nations depend solely on companies situated in their territories. In this article, after reviewing the current state of technological based innovation small firms in korea, we provide a theoretical framework to promote the level of technology based innovation and entrepreneurship. The theoretical framework for analysis and policy suggestions is based on the Schumpeter's value system model that consist of supply factors, demand factors, and supporting institutions. In order to create more innovative small businesses, we insist on the followings. First, more R&D and innovation activities related with promising new technologies should be performed. Second, more R&D funds for technological innovation small companies should be provided from governments. Third, more M&A transactions and technology transactions should be marketed freely and competitively. Fourth, more business incubating services and venture capital services should be provided. Fifth, entrepreneurship and innovation culture should be popular and institutionized among people.