THE ROLE OF RESOURCES IN THE BEHAVIOUR OF COMMODITY ECONOMIES IN THE CONTEXT OF GLOBAL INTEGRATION

Abstract

Purpose. The aim of the article is generalization of theoretical concepts of research of raw materials economies, which explain the interdependence of countries’ resource ownership and economic growth, and substantiation of the role of resources for commodity economies in the process of global integration. Methodology of research. The theoretical and methodological basis of the article is the fundamental provisions of modern economics. In the process of research the following methods were used: theoretical generalization and scientific abstraction – in substantiating the categorical and conceptual apparatus of research; method of system analysis – in the formation of the theoretical and methodological basis of the study and the structural structure of the study; method of comparative analysis – in identifying patterns and spatial differences of raw material economies in the context of global integration; methods of descriptive statistics and visual analysis – to visualize the main provisions of the study; methods of econometric modelling – to test hypotheses, identify relationships between key characteristics and formulate appropriate conclusions of the study. Findings. It is established that in modern conditions of strengthening the processes of integration of countries the role of resources in raw material economies is growing. The impact of the “Dutch disease” and the “resource curse” on the behaviour of countries with raw material economies and their participation in the process of global integration is considered. The distribution of countries by the share of land rent of natural resources in GDP is analysed. It is proved that the ownership of resources and the high share of the total rent of natural resources in GDP are not the cause of high competitiveness of countries. Originality. Conceptual bases of understanding the role of resources in the behaviour of countries with raw material economies are deepened. Scientific and methodological approaches to understanding the behaviour of countries with raw material economies and their participation in the process of global integration have been improved. Practical value. The results of the conducted study can be used to determine the potential opportunities for the export potential of the country, taking into account the specifics of the functioning of commodity economies in the process of global integration. Key words: global integration; raw material economies; resources; “Dutch disease”; “resource curse”; competitiveness; national economies; economic growth.