Russia in the changing conditions of world trade: A structural view at the new positioning

Abstract

This article discusses changes in the structure of world trade and the features of integration of Russian economy into the global exchange of goods and services. There is an increasing competition on global markets of goods and services that require high-skilled labor. During the last two decades, the structure of Russian export has not gained positive diversification shifts and comparative advantage in high value added goods. The article discusses the following problems of Russian trade policy: an overestimation of traditional sectors’ export potential, a lack of attention to the problems of integration into global value chains and international industrial cooperation, and an untapped potential of fast-growing medium-sized companies. The agenda of prospective Russian trade policy might include a transition to a broad interpretation of trade policy oriented towards long-term structural changes in the economy and a change in the positioning of sectors in global value chains, combined with measures to develop human capital and institutions, determining the further formation of the service sector.