The model of international trade by the type of mutual attraction of the EAEU, SCO and BRICS countries

Abstract

The article is devoted to the study of factors affecting the financial and economic cooperation of countries with an emerging market within the framework of three blocs, namely the EAEU, BRICS and SCO, by building a model based on the type of mutual attraction. The countries belonging to the former USSR is considered separately. The time period of the study has been established, which begins in the crisis year 2014 for Russia and continues to the present. The subject of the analysis is the financial and economic relations arising in the process of cooperation of countries with an emerging market that are members of such associations as the EAEU, SCO and BRICS. The author examines the factors affecting the financial and economic cooperation of countries with an emerging market: the depth and scale of foreign trade turnover, gross domestic product per capita, the index of trade openness, the rate of growth of the currency of the importing and exporting countries, the distance between countries, the involvement of a country with an emerging market in such associations as the EAEU, BRICS, SCO. The research is based on general scientific methods of cognition (analysis, synthesis, comparison), presentation of tabular and graphical interpretation of statistical information, time series, econometric modeling using the EViews software product. The novelty of the article lies in determining, using econometric methods, the factors affecting the financial and economic cooperation of countries with an emerging market within the framework of three blocks, namely the EAEU, BRICS and SCO, by building a model based on the type of mutual attraction. The peculiarity of the presented model is the presence of lag exchange rates. The inclusion of the lag of the relative change in the exchange rate of the exporter led to the fact that the data for 2014 were excluded from the sample. It is advisable to take into account the results obtained in Russia's cooperation both on a bilateral basis and in a multilateral format within the framework of the EAEU, BRICS and SCO.