The impact of scientific and technological revolution on foreign economic relations and international economic integration in the second half of the twentieth century

In: Istorija narodnoho hospodarstva ta ekonomičnoi͏̈ dumky Ukrai͏̈ny: zbirnyk naukovych prac, Volume 2019, Issue 52, p. 255-275

Abstract

The article is concerned with studying of the impact of scientific and technological progress on economic integration and the involvement of individual countries in the international division of labor. The historical period of research covers the second half of the twentieth century. The purpose of the article is to define the main directions and features of the USSR's foreign economic policy under scientific and technological revolution and strengthening of international economic integration. Causal link between the development of international trade and economic integration under the impact of the scientific and technological revolution's challenges is shown in the results of the study. The place of the USSR and its satellites in the system of international economic relations is revealed. International trade with capitalist countries and economic relations with the CMEA are identified as the main directions of the involvement of Soviet economy in the international division of labor. The place of Ukraine in the system of foreign economic relations of the USSR is outlined. The statistical data as to international trade of USSR with capitalist and CMEA countries is compared by volume and major commodities. Preference for economic cooperation with the CMEA countries based on central planning in the absence of competition are revealed. The backward structure of the USSR's international trade with the predominance of energy and raw materials exports is emphasized, as well as the lagging behind the capitalist countries in the use high technology for the production of household goods. The results of research are important for understanding the current needs of inclusion of the national economy in the global economic processes.