Russian-Chinese financial and economic cooperation: Comparative identification of the impulse response function

Abstract

Subject. This article discusses the integration of Russia and China and the convergence of the economic systems of the two countries. Objectives. The article aims to identify promising areas of cooperation between Russia and China to create a common financial market and common exchange space, and analyze the impulse responses of the Russian and Chinese economies to various external and internal shocks. Methods. For the study, I used a regression analysis. Results. The article assesses the impulse responses of the Russian and Chinese economies to external shocks and identifies a synergistic effect that makes it possible to increase the validity and effectiveness of economic policies. The article also identifies the most promising areas for the development of relations between the two countries. Conclusions. At the present stage, economic and financial cooperation between Russia and China gets strengthening. In general, the results of empirical analysis correspond to theoretical expectations.