Suchergebnisse

The article deals with the development in the Russian-Estonian relations during the crises of 2007 and 2014, taking into consideration the balance between political and economic factors in the decisionmaking of the Estonian government. A number of special aspects, trends and problems in trade and investment ties are detected.The aim of the study is to uncover the key motivation behind the actions of both Russia and Estonia, to identify the drivers for economic and political development in the region, and to work out recommendations to adjust them. The questions put forward by the authors of this article could not be more topical at the time, when Russia's economic situation is obviously getting worse and capital flight (to the neighboring EU Member States) is likely to increase.The method of the study is a comparative analysis of the impact on economic ties made by the Russian-Estonian crisis of2007 and the current international tension around Ukraine. The regional fossil fuel market and the possibilities of Gazprom involvement in its development are also analyzed.It is concluded that political motives are still important for Estonia's decisionmaking, though they are balanced out by measures of business support (despite some of these measures being taken by the EU bodies). The role of political factor for the Russian side is increasing. It is acknowledged that there is a growing number of missed economic opportunities in the Russian Northwest.

The article examines the formation and development of the concept of open strategic autonomy promoted in the EU, scholarly discussions about its prospects as well as practical steps to increase the resilience of a united Europe to new economic and geopolitical challenges. The concept under study, which initially had a predominantly military-political dimension, subsequently acquired new meanings and imperatives related to the implementation of trade, investment, energy, environmental, innovation and other areas of economic policy. The article proves that these EU steps have become both one of the reasons for the current processes of deglobalization, regionalization and fragmentation of the international economic system, and a showcase of contradictions that accompany these processes.

Although the European authorities have already adopted a number of important initiatives that fit into the concept under consideration, such as the creation of industrial alliances in strategically important industries, screening of foreign direct investment, the introduction of a cross-border carbon tax, etc., its implementation is fraught with a number of challenges, including a slide towards protectionism and an increase in the cost of subsidizing domestic production capacities. In addition, in the medium term, the achievement of strategic autonomy will be hindered by confrontation with Russia, which objectively leads to an increase in the dependence of EU countries on the United States, including in such a sensitive area as energy imports.

The article investigates the Russian place in outward FDI geography of the Visegrad countries. The role of the neighborhood effect is shown. With the help of the authors' special methodology for FDI calculations which overcomes deficiencies in the Bank of Russia's statistics, the distribution of the Visegrad group's FDI between Russian regions is studied. The authors demonstrate the presence of a hierarchical-wave model of spatial diffusion of FDI by investors in retail and banking. At the same time, it is found that Moscow and its surrounding dominate the recipient regions. It is also shown that Visegrad group investments in Russia are mostly made by enterprises which remove any political component. As a result, their FDI expansion to the Russian market is likely to continue as soon as the Russian economy returns to growth .

The article investigates the Russian place in outward FDI geography of the Visegrad countries. The role of the neighborhood effect is shown. With the help of the authors' special methodology for FDI calculations which overcomes deficiencies in the Bank of Russia's statistics, the distribution of the Visegrad group's FDI between Russian regions is studied. The authors demonstrate the presence of a hierarchical-wave model of spatial diffusion of FDI by investors in retail and banking. At the same time, it is found that Moscow and its surrounding dominate the recipient regions. It is also shown that Visegrad group investments in Russia are mostly made by enterprises which remove any political component. As a result, their FDI expansion to the Russian market is likely to continue as soon as the Russian economy returns to growth .

The article examines the combination of the Netherlands' departure from the role of a transit jurisdiction for capital from all over the world and their struggle to attract the headquarters of multinational companies, including those migrating from the UK due to Brexit. It is shown that these processes are due to both fundamental reasons and the current need of countries for tax refunds to replenish their budgets to cover the consequences of the pandemic crisis. The author comes to the conclusion that the restructuring of the rules of international tax regulation which is going on now, may cause clashes of countries' interests and strategies, which is illustrated by the example of the breakdown of the Agreement on the avoidance of double taxation between Russia and the Netherlands.

The article examines the introduction of the EU carbon border adjustment mechanism (CBAM) as part of the EU economy decarbonization. The implementation of this initiative poses certain risks for the EU trading partners. Moreover, this issue is extremely important for the entire global trading system. The purpose of the study is to assess the real threats of the mechanism for Russian companies and identify opportunities for successful adaptation to the new green realities. The theoretical approaches and prerequisites for the CBAM introduction are analyzed, its systemic effects for companies around the world are shown. The channels and possible scale of this measure's impact on Russian exporters are considered. The authors analyze the main possible response scenarios for Russia. The most promising scenarios could be: a) intensification of the carbon-free energy and increasing the energy efficiency of production processes, 2) development of an alternative compensatory mechanism, 3) integration into the regional emissions trading system. A possible challenge of the CBAM introduction in the WTO may be ineffective; cooperation with countries outside the "green agenda" – counterproductive. It is concluded that there are opportunities for Russian companies to strengthen their competitiveness due to CBAM requirements. However, there is a lack of expertise in a number of areas and levels, which can hinder the implementation of these opportunities.