Economic Development Of Member Countries Research Articles

Belt and Road Initiative of China: Economic Potential for Partner Countries

As a megaproject, Belt and Road Initiative (BRI) has a vital role in the economic development, strategic policies and social development of member countries. This study investigates the potential of BRI on the economic development of member countries. A qualitative approach, particularly desk review, has been adapted. This study focuses on key economic development issues like the geographical importance of economic corridors, geographical coverage, the implication for manufacturing industries, markets, infrastructures, stimulating trade, regional connectivity, and internationalization of Chinese currency. The study reveals that BRI considerably impacts all the elements of economic development. The BRI has already started contributing to partner countries’ mainstream economies. Some challenges remain in its implementation stages, such as funding, time of accomplishment, geography and topography, geopolitical barriers, and security issues. This study recommends a periodical assessment of the challenging problems in the context of member countries to gain full advantages of the BRI.

The Belt and Road Digital Financial Cooperation and Risk Governance Policy Research

Since the proposal of the "One Belt and One Road" initiative, it has attracted wide attention of the international community. As a key link of the OBOR initiative, financing is the blood of promoting the economic development of member countries, and the OBOR financial cooperation has been quite effective. Since 2013, the combination of digitalization and finance leads to new forms of finance, and the channels and methods of financial cooperation have been expanding. At the same time, the domestic and international environment has dramatically changed, especially since the COVID-19 and the conflict between Russia and Ukraine, so the OBOR transnational digital financial cooperation is facing unprecedented risks and challenges. Based on the analysis of existing literature, this paper explores the reasons behind the OBOR digital financial cooperation from the perspective of Neo Liberal Institutionalism. At the same time, this paper summarizes the current situation and characteristics of the OBOR digital financial cooperation and its multiple risks, and put forward feasible governance policy to help China participate in regional financial governance, provide regional leadership, work with countries along the OBOR to maintain world peace and stability.

Identifying the driving factors of NO2 pollution of One Belt One Road countries: satellite observation technique and dynamic spatial panel data analysis.

To recover the global economy, China in 2013 called for a new global strategy, namely, "One Belt and One Road Initiative" (BRI), which aims at reinforcing regional economic cooperation, enhancing regional collaboration of economic policy, and realizing the goal of rapid economic development of member countries. Accelerating industrialization not only has been recognized as an effective way to stimulate economic development, but also lead to the serious issue of environmental pollution, which challenges the environmental sustainability. In this study, we focus on the industrializing region as a study area to investigate the driving factors of environmental pollution. Technically, we utilized satellite observation technique to obtain NO2 columns data to denote environmental pollution and then applied dynamic spatial panel data models to evaluate what affects NO2 pollution levels. The findings are the following. (1) NO2 pollution exhibits significant and positive spatial autocorrelation, indicating spatial spillovers of NO2 pollution. (2) Lebanon, Bangladesh, Kyrgyzstan, and India experienced the largest increase of NO2 pollution while NO2 pollution in Singapore, Hungary, Greece, and Ukraine was substantially reduced. (3) The results of the dynamic spatial panel data models show that both the time dynamics effects and the spatial spillover effects are found to be significant and positive. In other words, both effects should be considered. Population is the foremost contributor to increase NO2 pollution while urbanization is an effective way to reduce pollution. An EKC relationship between NO2 pollution and per capita income was verified. Besides, industrialization, foreign direct investment, and trade openness have positive impacts on NO2 pollution.

Belt and Road Initiative (BRI) of China: Connecting the World for Sustainable Economic Development

The aim of this article is to assess the effect of strategies of Belt and Road Initiative (BRI) on sustainable economic development of member countries. This study is based on qualitative approach and secondary data. A number of documents such as journal articles, government reports, books, book chapters and working papers have been consulted to substantiate the arguments. The article explores that there is a potential effect of BRI on the sustainable economic development of its member countries. Some of the member countries are getting direct benefits from it and other countries are in the way of getting benefits through infrastructure development, trading, cultural exchanges and mutual political agreements. It is empowering a number of developing countries through economic development by linking economic corridors, seaport, roads and railway networks. This article also finds that so many economic zones are planned to open in member countries to get benefits from BRI initiative by promoting infrastructure, energy, gas, oil and electricity, roads, railways and other related projects.

ВНУТРЕННИЕ УГРОЗЫ ЭКОНОМИЧЕСКОЙ БЕЗОПАСНОСТИ ЕВРАЗИЙСКОГО ЭКОНОМИЧЕСКОГО СОЮЗА

The relevance of the study is due to the fact that the Eurasian Economic Union in the modern global economy is the second economic union in the history of the development and existence of integration processes. It is one of the largest regional markets, which unites about 182.7 million people, it possesses the fifth part of the world’s gas reserves and 15% for oil, with total GDP of about 2.5 trillion dollars (about 85% of GDP in all CIS countries), the industrial potential of 600 billion dollars and the volume of agricultural production - 112 billion dollars, etc. Thus, the potential of the new integration association is unique. The question today is whether the five countries will be able to find common ground in their general economic interests to preserve the association and its further development, as well as through the accession of new post-Soviet countries. The Eurasian Economic Union can potentially become one of the most important subjects of the world economy, a regional and even a global leader, if the association secures its economic safety, or put in other words will ensure the positive economic effect for each member country. The purpose of this article is to identify internal threats to the economic security of EAEU. The study showed that the most important internal threats to economic security are: the differentiation of the economic development of member countries; preservation of raw material export model of the development in Russia and Kazakhstan; virtually no trade and investment cooperation between such pairs of countries as Belarus - Armenia, Kazakhstan - Armenia, Kyrgyzstan - Armenia, Belarus - Kyrgyzstan, Kazakhstan - Belarus; aggravation of member countries financial problems; discrepancy in transport infrastructure development to the current needs of the integration association; absence of a single payment system; absence of a system of general integration of economic interests, divergence of the member countries interests up to the opposite position. Taking into account the material analyzed and the results obtained, the conclusion was drawn on the need to develop mechanisms for neutralizing these threats.

PROBLEMS AND PROSPECTS OF SUSTAINABLE ECONOMIC DEVELOPMENT OF MEMBER COUNTRIES OF OPEC

In article problems and prospects of sustainable economic development of member countries of OPEC are considered. The carried-out comparison of member countries of OPEC among themselves showed their heterogeneity on the level of social and economic development. Understanding stability of positive dynamics of parameters of development of the country and high rates of development as sustainable economic development of the country, the tools of an assessment of stability of economic development of member countries of OPEC allowing with application of procedure of normalization of quantitative indices of stability of development and the accounting of their dynamics are offered to calculate the integrated level of stability of economic development of member countries of OPEC in spatial (when comparing member countries of OPEC among themselves) and temporary (when comparing by years) aspects. Taking into account the offered tools the integrated level of a sustainable development of each of 12 member countries of OPEC in dynamics for 2008-2013 is calculated, the class of stability is defined and ranging of the countries is carried out. With application of economic-mathematical methods (the correlation and regression analysis, the factorial analysis, scenario approach) forecasting of key macroeconomic indicators and indicators of development of an oil and gas complex of 12 member countries of OPEC is carried out. By results of calculations calculation of expected level of a sustainable development of member countries of OPEC for 2015-2016 is perfromed, key problems and prospects of a sustainable development of member countries of OPEC are defined. Taking into account the carried-out analysis the key factors defining nature of development of member countries of OPEC are allocated (resource providing, inflow of investments, innovative activity, institutional transformation, greening, legislative rule-making, social infrastructure, staffing, etc.) that allowed to prove a dot orientation of actions for ensuring sustainable economic development with emphasis on an oil and gas component (deepening of process of processing of the got hydrocarbonic raw materials, decrease in waste, energy saving, etc.).