International Economy Research Articles

Banks as the new family: the transition from informal to formal borrowing in Turkey

This paper focuses on the impact of social reproduction patterns on borrowing experiences in everyday life, linking two lines of research within feminist and critical International Political Economy (IPE) literature of the everyday, one on social reproduction and debt, and the other on financial subjectivities. Drawing on interviews with women from indebted households in Istanbul, Turkey, it specifically explores how this impact is reflected in the meanings attached to borrowing and the perceptions of what it entails to be a debtor, thereby generating gendered implications. This article reveals that borrowing from family and friends, once seen as an expression of trust and solidarity, is now associated with financial dependence and humiliation, while borrowing from banks is perceived as a means to achieve self-reliance and self-responsibility. However, these meanings contradict women’s self-identifications as debtors, which are framed in moral terms surrounding the structural necessity of incurring credit-debt for social reproduction. This paper contributes to political economy scholarship by addressing how the everyday lives of the indebted are linked to the broader global financial system, mediated by the specific conditions of a Global South context (Turkey) characterized by subordinate financialization, the political use of credit expansion, and a neoliberal/conservative gender regime.

Climate resettlement and livelihood transformation in Rwanda: the case of Rweru Model Green Village

ABSTRACT This study investigates whether relocating rural communities from areas exposed to high climatic risks can be transformative and in what ways. Using the Rweru Model Green Village as a case study and drawing on regional political ecology and sustainable livelihoods framework, the study shows that climate-related resettlement as an act of transformation is mediated by development vision and policies, multi-scalar dynamics, and micro-politics. Our semi-structured interviews with households resettled in the Rweru village revealed the double-edged nature of transformation. Resettlement was shown to increase access to modern facilities and social services for two remote island communities. However, new and potentially severe livelihood constraints emerged due to limited natural and financial capital, intra-community inequities, and microclimate variations between the origin and resettlement sites. These findings suggest that resettlement as a form of transformative adaptation requires careful navigation of the interplay between community expectations, government development plans, and shifts in the local, regional, and global political economy.

ÉMIGRÉ ECONOMISTS IN AMERICA: THEIR IMPACT AND THEIR EXPERIENCES

I first visited the United States in September 1980 when I spent two weeks at the New School for Social Research in New York. The main reason was the first personal meeting with Adolph Lowe (1893–1995), with whom I had been in close contact since spring 1977 when I got my PhD in economics from the University of Kiel. Lowe had built up a new department for research on business cycles and international statistical economics at the Kiel Institute of World Economics since April 1926, which soon acquired an international reputation (Hagemann 2021). The group included such outstanding economists as Gerhard Colm, Hans Neisser, Fritz (Frank) Burchardt, and for some years also Wassily Leontief and Jacob Marschak. None of them remained in Germany after the Nazis’ rise to power in 1933. Lowe had moved to the Goethe University in Frankfurt in October 1931, where he was dismissed after three semesters. Like many other émigré economists, he first went to Great Britain (Hagemann 2007), where he became an honorary lecturer in economics and political philosophy at the University of Manchester. In summer 1940 he moved further to New York where the Graduate Faculty of the New School had been founded as the “University in Exile” by Alvin Johnson, and Emil Lederer became the founding dean in 1933.1 Thus, in contrast to Colm, Lowe, as well as his lifelong friend Marschak (both were supervisors of Franco Modigliani’s New School PhD thesis) and Neisser were not members of the Mayflower generation.

The “EU‐Leash”: Growth Model Resilience and Change in the EU’s Eastern Periphery

Although the EU’s Eastern periphery has been afflicted by a series of crises over the past two decades, the region’s dependent market economies have shown puzzling resilience. Since the global financial crisis, the FDI-led, export-oriented growth models of the Visegrád countries have been reinforced. Meanwhile, the debt-based, consumption-oriented capitalism of the Baltic states has not experienced dramatic shifts either, despite a strengthening of its export component. Scholarly accounts from a comparative political economy perspective explain this resilience as the product of country-specific factors and tend to downplay the role of external influence. Instead, we aim to bridge these approaches with international political economy scholarship by arguing that European integration, in general, and the EU’s transnational regulatory influence, in particular, serves as an external anchoring mechanism for both semi-peripheral growth models. In addition to the region’s structural characteristics, such as deep embeddedness in global value chains, high exposure to trade with the EU, and dependence on external sources of finance, which already limit domestic agency in changing national growth models, we argue that European transnational regulatory integration involves an “EU-leash” that sets the boundaries for domestic economic policies, thereby influencing growth model trajectories. This ensures institutional continuity and prevents sudden and radical changes in semi-peripheral growth models. We demonstrate these mechanisms through two country studies (Estonia and Hungary).

Impact of investments on labour productivity in the chemical and petrochemical industry of the Republic of Kazakhstan

Relevance. Currently, the petrochemical and chemical industries are one of the main areas in the international economy. That is why it is important to choose effective alternative networks by promoting investments in factories to achieve certain indicators in the field of labour. The relevance of this topic is conditioned by the fact that labour productivity in the modern environment plays a crucial role in the activities of various industries. Purpose. The purpose of the study is to assess the correlation of investment and labour productivity in the chemical and petrochemical industry of the Republic of Kazakhstan. Methodology. The study used several methods of scientific research, specifically: correlation and regression analysis. Results. As a result, it was possible to explore the areas of activity responsible for the development of the chemical and petrochemical industry, namely: the development and production of oil, associated (petroleum) and natural gas, the production of chemical and petrochemical products, the production of coke and refined petroleum products, the development of rubber and plastic products. This allowed establishing the level of impact of investments on labour productivity of each of the above-mentioned sub-sectors. In addition, statistical data were investigated, based on which indicators were established reflecting the features of interaction between such components as investment, industrial development, and the improvement of professional personnel. The factors that qualitatively affect the efficiency of external market conditions for corporations are disclosed. Conclusions. The research shows that investments in chemical products, coke, and refined petroleum are more effective than those in crude oil and natural gas production. The practical value of the study is revealed in the possibility of using the results when developing development plans for specific chemical and petrochemical enterprises in the Republic of Kazakhstan, by attracting a specific type of investment. Keywords: energy efficiency; capital; infrastructure; productivity factors; innovation

Sino-Russian cooperation under US and European sanctions: Chinese car brands flood into the Russian market

This article uses a realist theoretical framework to thoroughly investigate the motives, processes, and multifaceted impacts of Chinese automobile brands entering the Russian market. The research findings reveal that the transnational market strategy of Chinese brands is based not only on the pursuit of national interests and economic independence but also on a flexible response to changes in the international political and economic structure. Amid the economic sanctions imposed by Western countries on Russia, a power vacuum has emerged in the Russian automotive market. Chinese automobile brands accurately identified and swiftly seized this opportunity, successfully entering and expanding their market share in Russia. This move has not only increased China’s influence in the global automotive industry but also further strengthened the strategic partnership between China and Russia. From a geopolitical perspective, this economic activity has also bolstered political and economic cooperation between China and Russia to resist the pressure from Western governments. This study enriches the application of realism theory in the field of international political economy and provides new perspectives and insights into understanding the motives and strategic choices of national behavior in a complex and changing international environment. By examining the case of Chinese automobile brands in Russia, this research contributes to the broader discourse on the strategic interactions between major global powers and their implications for the international political and economic order. The analysis highlights the importance of adaptive market strategies in achieving national objectives and underscores the interplay between economic strategies and geopolitical dynamics. The insights from this study are valuable for policymakers, scholars, and practitioners interested in international trade, political economy, and strategic studies, offering lessons for navigating the complexities of global market dynamics and international relations.

Global renewable energy trade network: patterns and determinants.

The renewable energy product trade is critically important to global economic prospects and its rapid development, making it a key issue in international economics of much interest to scholars. Previous studies have paid attention to bilateral trade, yet we still know little about the patterns of renewable energy product trade and its evolution from the whole industry perspective. Based on bilateral trade data, complex network, as well as ERGM and TERGM, we build global renewable energy trade networks (GRETNs) during 2000-2018 and explore the patterns and determinants. The results show that (1) the GRETNs expand during 2000-2018, characterized by a small-world, reciprocity, degree disassortative, and export volume heterogeneity. (2) The GRETNs form four communities, and the community patterns greatly fluctuate over time. (3) Economies in North America, Europe, and Asia play dominant roles, while the USA, Germany, and China are the cores of the GRETNs. (4) Endogenous structure of reciprocity, structural embeddedness, and out-degree popularity are essential parts of the evolving patterns of GRETNs. Most trade relationships are developed between economies located within the same continent, participating in APEC or WTO, or having similar areas. There is heterophily in GDP and per capita income, and Matthew effects in GDP, urbanization, and industrialization rate. Countries that share a common geographic border, language, religion, or currency, being former colonies of the same colonialists, and having signed regional trade agreements are more likely to trade in renewable energy products.

ГЕОСТРАТЕГІЧНЕ ВІКНО МОЖЛИВОСТЕЙ ІННОВАЦІЙНО-ІНВЕСТИЦІЙНОЇ МОДЕРНІЗАЦІЇ УКРАЇНИ: ІНСТИТУЦІОНАЛЬНЕ РЕГУЛЮВАННЯ ТА ОРГАНІЗАЦІЙНО-ЕКОНОМІЧНІ МЕХАНІЗМИ РОЗВИТКУ ЗОВНІШНЬОЕКОНОМІЧНОЇ ДІЯЛЬНОСТІ АГРАРНИХ ПІДПРИЄМСТВ

It is determined, that Russia’s ongoing war in Ukraine has attracted great attention around the world and caused concern. Radical geopolitical uncertainty is changing the rules of the global economy. Countries must accept new realities and adapt to them, prioritizing flexibility and resilience. Ukraine needs to take advantage of the geostrategic window of opportunity for innovation and investment modernization of all sectors of the economy, especially the agricultural sector, as one of the main export-oriented sectors designed to ensure food security and healthy nutrition not only for the domestic market but also for the growing global population; to become an important regional actor and eventually integrate into the European Union, to avoid becoming an outsider in the global economy. The research is devoted to the study and analysis of the problems of innovation and investment modernization of the agricultural sector in accordance with the requirements of sustainable development and global geopolitical uncertainty in order to take advantage of the geostrategic window of opportunity in the post-war period. The purpose of the study is a comprehensive assessment of innovation and investment transformations taking place in the agricultural sector in countries in the context of the challenges of global sustainable development in order to determine the priorities of institutional regulation and organizational and economic mechanisms for the development of foreign economic activity of agricultural enterprises in Ukraine in order to take advantage of the geostrategic window of opportunity in the post-war period. The objective of the scientific research is to identify the most successful group of countries in terms of implementation of intensification of production activities, efficiency of implementation of innovation policy and ability to meet the needs for food, taking into account the requirements of sustainable development, substantiation of recommendations for innovation and investment modernization of agricultural production activities of domestic producers, determination of priorities for institutional regulation and organizational and economic mechanisms for the development of foreign economic activity. The following methods of scientific research were used in the article: the method of system analysis, forecasting, generalization, modeling, namely, clustering by the K-Means algorithm. The leading countries with highly innovative agro-industrial sectors are grouped and their experience in formulating state policies aimed at supporting innovative transformations of the agro-industrial complex is summarized. The priority directions of institutional regulation and organizational and economic foundations for the development of foreign economic activity of agricultural enterprises of Ukraine are substantiated. Keywords: clustering, geostrategic window of opportunity, international trade, foreign trade, foreign economic activity (FEA), exports, imports, organizational and economic foundations and mechanisms, institutional regulation, innovation and investment modernization and transformation, institutional design of development, state support, state policy, business environment, sustainable development, agricultural production, agricultural sector, agriculture, agricultural enterprises, agricultural products, agricultural products, world / international economy.

EU Environmental Policies in the Context of Green Theory and Türkiye's Adaptation Process

The Green Theory, encompassing various approaches, in addition to green normative thinking and global political economy currents, emphasizes the safety and well-being of non-human living beings. The alignment of environmental legislation in candidate countries with EU environmental regulations not only benefits these countries in terms of their candidacy but also in many aspects such as quality of life. Türkiye, aspiring for full membership in the EU, has undergone legislative changes within the framework of the harmonization process, prioritizing environmental policies that promote development. This study evaluates Türkiye's EU harmonization process within the context of the Green Theory. Furthermore, considering Russia's occupation of Ukraine and global developments, the aim of the article is to methodologically assess Türkiye's relations with the EU in the framework of environmental compatibility.

The Hidden Mechanisms and Impact of International Economic Crime: A Bibliometric Perspective

The Hidden Mechanisms and Impact of International Economic Crime: A Bibliometric Perspective

A PROGRAM DEVELOPMENT OF REDUCING STUDENTS’ DROPOUT INTENTION AT PRIVATE UNIVERSITIES IN CHANGSHA OF HUNAN PROVINCE, CHINA

This study aimed to develop a program for students at private universities in the Hunan province of China. The program was developed to reduce students’ dropout intentions. A mixed-methods approach was used for the study. Three hundred eighty-one students participated in the study. A statistical analysis was carried out to obtain the mean and standard deviation. Multiple regression analysis was utilized to find significant variables. The qualitative method was used to develop a program. The overall dropout intention at private universities in Hunan province was 3.71, which still had room to reduce students’ dropout intention. The program was developed based on students’ institutional integration and effective dropout activities. The program contained five significant items from the data analysis results: academic challenge (ß=.261, P=.000); academic support (ß=.195, P=.000); peer mentoring and tutoring (ß=.197, P=.000); diversity experiences (ß=.132, P=.019); and social support (ß=.109, P=.032). This program was applied to 66 students at Hunan International Economics University. The t-test results showed: t (69) = -18.32, p =.000 <.05 significance level, which supported a significant difference between before and after attending the program.

International Economic Sanctions and Third-Country Effects

International Economic Sanctions and Third-Country Effects

Research on the Current Dilemma and Breakthrough Path of China's International Economic and Trade Rules for Elevation Standards

Currently, China has entered a stage of high-quality development. To deepen the new round of high-level opening up to the outside world, it is necessary to accelerate the construction of a domestic institutional system that is connected with international high standard economic and trade rules. This article takes high standard international economic and trade rules as the research object, focusing on the "Three Zero" rules, digital trade, competitive neutrality, intellectual property, government procurement, labor rules, etc. By sorting and summarizing the main rules of high standard economic and trade agreements such as CPTPP, USMCA, DEPA, etc., it analyzes the differences with domestic rule systems and the risks and challenges of China's integration. On this basis, this article proposes countermeasures and suggestions for international economic and trade rules based on elevation standards: firstly, steadily promote high-level opening up to the outside world and enhance the level of trade liberalization and facilitation; Secondly, accelerate the completion of domestic institutional reform and build an open economic system that is compatible with high standard economic and trade rules; Thirdly, actively promote the process of joining CPTPP and DEPA; Fourthly, actively participate in international economic and trade rule negotiations, and deeply participate in rule formulation and reshaping. The research findings of this article will provide useful references for China to further promote high-level opening-up and better participate in the formulation of international economic and trade rules.

Challenges and countermeasures of international economy and trade under the background of big data

In the era of big data, international economy and trade are facing unprecedented challenges and opportunities. This paper analyzes the influence of big data on international economy and trade, discusses the related challenges, and puts forward the countermeasures. In terms of challenges, big data brings privacy and security risks, data standardization issues and the widening digital divide. In order to meet these challenges, the international community needs to strengthen data security regulations, formulate international data standards, promote digital inclusion, and improve the transparency of data governance. In addition, this paper also emphasizes the great potential of big data in international trade, including improving market access, reducing trade costs and optimizing supply chain.

The Role of Digitalization in EAEU–ASEAN Dialogue

The article examines the role of digitalization in EAEU–ASEAN dialogue. The EAEU tries to develop cooperation with Southeast Asia, as for separate states, so with ASEAN. The sides have made some significant steps for strengthening of their interaction for the last years. However, the EAEU and ASEAN still have no free trade agreement or other formal document for economic cooperation. One of reasons for that seems to be relatively low level of trade ties and integration between EAEU and ASEAN member-states. EAEU and ASEAN officials make focus at their dialogue for facilitation and development of their economic cooperation. The digitalization takes important position in this interaction. The EAEU and ASEAN pay special attention to digitalization in their programs of development. The EAEU and ASEAN representatives accented the importance of digitalization as an instrument of cooperation (for example, in the relation of customs regulations and electronic trade). Digitalization issues have been included into agenda of different events with participation of the EAEU and ASEAN (for instance, Petersburg International Economic Forums). Representatives of the EAEU and ASEAN, separate member-states and business-communities discussed digitalization. Although the digitalization of EAEU–ASEAN cooperation makes the first steps, but, at the same time, we can see some practical results (on the example of activities of the Russia-Singapore Business Council and Singaporean company vCargoCloud). The digitalization in the framework of EAEU–ASEAN interaction has prospects for further development and can create conditions for strengthening ties between the EAEU and ASEAN.

The History of Fed Interest Rate Hikes and the Impact on Stock and Foreign Exchange Markets

Following COVID-19, America uses policies to boost its economy, inadvertently pushing inflation from 2018 to 2022. This paper discusses the history of the Federal Reserve rate increase and its repercussions on financial areas, especially on the stock and foreign exchange markets. The main analysis centers on the impacts of the markets and behaviors of the answers. Initially, the Federal Reserve rate increase seemed economically beneficial. However, long-term effects may negatively impact both domestic and international economies to some degree. By examining historical data, this paper dissects the rationale behind such moves and their direct outcomes. This offers a better perspective on potential future interest rate influences. For investors, to be positive and need to adjust their investment strategies to adapt when they face the Federal Reserve rate increase. For policymakers, during the fluctuations in interest rates, they need to maintain the global equilibrium as far as possible, without excessive disruption or impact.

Design of Network Management of International Relations, Including the Economic Sphere (рart 1)

Considering the importance and wide scope of the problem of network organization of international relations, incl. field of economics, also taking into account the level of adoption and implementation of government decisions, the article is divided into three parts. The fi rst contains a review of the literature on the research topic under consideration; an introduction is given that refl ects the real situation in the global community and the global economy, against the background of which the idea of a network organization developed not only at the level of companies and corporations, but also reaching the level of actually interstate interaction, thereby transforming it. The idea of a network system for managing international relations is based on the rationale for dismantling the Westphalian system, which, as adherents of networkization ideas believe, is losing its signifi cance for the global world community, as a positive concession of national sovereignty in favor of global institutions is becoming widespread. This is seen as movement along the path of progress and democracy. In the economic sphere, the feasibility of developing a network structure is theoretically justified by the recommendations of the Washington Consensus (1992), postulating the de facto loss of the state, as an institution, of its basic functions to ensure the safe and prosperous life of citizens. As a result of the progress of the globalization process within the world community, the world economy has transformed and acquired the form of a three-level “pyramid”, which actually contributes to the development of network relations between actors in the international economy. In the second part, the authors explore the ideas of the actual network organization of the world community and emphasize that network regulation of international relations was supposed to be considered in the context of equal participation in the network of all potential actors: from the state to NGOs and NGOs, including TNCs/MNEs and TNBs, as well as various international (UN, OECD, IMF or WB, etc.) and public organizations (various unions and religious, political communities, including extremely radical ones). In modern conditions, network management of MO and IEO is most revealing at the EU level, where the ongoing foreign and foreign economic policy is not connected either with the national interests of the EU countries or with the ability to provide for the vital needs of citizens of EU countries. The authors focused their attention, while exploring the networking of international economic relations, on the development of the process of gradual transition by management of the creation of global GDP based on augmentation and its transfer to the competence of artifi cial intelligence (AI). As a counterversion of the networking of international relations and international economic relations, the authors consider the position of countries that defend the promotion of a multipolar confi guration of the world community, since polycentrism presupposes the development and strengthening of the Westphalian system, but taking into account modern trends in the development of the world community. Multipolarity de facto negates the proposed concept of networking of the Moscow Region. The third part is aimed at studying the process of digitalization of managing the creation of GDP based on the development of AI, which in turn is an auxiliary tool that promotes increased efficiency of the reproduction process. The absolutization of the role of AI in the creation of global GDP is a market factor, the importance of which is given exaggerated importance. AI is a product of soft-ware, and its potential is determined by the goals and objectives set by humans. At the same time, an unconditionally positive aspect is the desire at the interstate level to reach agreements on the restrictive parameters of the development and operation of AI, on preventing cyber attacks and hacking of national networks, etc. In conclusion, appropriate conclusions are drawn.

Analysing the Impact of Low-Carbon Economy on International Trade of China

Developing a low-carbon economy plays an important role in China. This energy structure that relies too much on coal resources has become an important factor restricting the sustainable development of Chinas economy and society. Therefore, developing a low-carbon economy can effectively avoid the drawbacks of Chinas reliance on high carbon energy. However, there are many adverse effects and difficulties in exploring low-carbon energy. This paper analyzes the multi-dimensional impact of over-reliance on high-carbon energy on the structural adjustment of the energy industry, less developed areas and the transportation industry. Government should realize the requirements of low-carbon technology funds and it needs to deal with the sufferings. The overall impact of low carbon on international economy and trade make issues more prominent. To deal with these problems, the measures suggested in this article are to reduce dependence on multiple levels, improve technical level and capabilities, strengthen international cooperation and exchanges, jointly formulate policies to make carbon emissions more standardized, and optimize research and development costs to reduce unnecessary expenses and government financial support.

New Methodologies for a Latin American Economic History on the 19th Century: The South-Central Andes

The economic literature of nineteenth-century Latin America has been dominated by its focus on the import-export complex and by comparisons with the United States and Western Europe, discussing why Latin America did not develop like the former regions. The use of import-export data is deficient in un- derstanding economic development of the region; comparisons about what Latin America is not does not help understanding how development occurred. Instead, the essay develops new concepts such as the internal economy, as well as methodologies and categories to analyze the changes in the Latin American economy from 1830 to 1920, using as a case study the south-central Andes.

New Methodologies for a Latin American Economic History on the 19th Century: The South-Central Andes

The economic literature of nineteenth-century Latin America has been dominated by its focus on the import-export complex and by comparisons with the United States and Western Europe, discussing why Latin America did not develop like the former regions. The use of import-export data is deficient in un- derstanding economic development of the region; comparisons about what Latin America is not does not help understanding how development occurred. Instead, the essay develops new concepts such as the internal economy, as well as methodologies and categories to analyze the changes in the Latin American economy from 1830 to 1920, using as a case study the south-central Andes.