Problems of the world community in the aspect of international trade and ways to solve these problems. international trade
What is the global debt problem? What indicators can be used to determine the severity of a country's external debt? How is the global debt problem currently being handled?
In the context of financial globalization, a world deficit economy has been formed and is functioning. The world balance of current accounts since the mid-1970s. is negative, global investment exceeds global savings. The world's external debt has reached significant levels. In 2007, the world external debt, calculated as the total debt of developed countries in the amount of international debt securities in the amount of 4.6 trillion. dollars and bank loans in the amount of 12.7 trillion. dollars, developing countries - 3774 billion dollars and with economies in transition - 487 billion dollars, amounted to 19.3 trillion. Doll.; by the end of 2008, it exceeded 21 trillion. USD http://www.wto.ru/documents.asp?f=stats&t=16
The volume of non-borrowed foreign resources used in national economies (direct investment, portfolio equity investment, gifts and grants, written off foreign debts and other types of non-refundable assistance) has also reached massive levels and has many times exceeded the figures of previous decades. In most countries of the world community, a deficit economy has developed, systematically making up for the lack of national resources by attracting official bilateral and multilateral funds and private loans from the international market. Many countries cover their deficits mainly with debt-forming resources, and it is legitimate to consider their economies as borrowed or debt-based. In countries with debt economies, obtaining new loans and repaying interest and amortization payments has become an essential element of the reproduction process.
External debt has firmly entered the mechanism of the functioning of the modern economy, has become its integral element and a long-term factor in world economic development. Almost all countries attract external borrowed resources and have external outstanding debts; most of them are net debtors, including some developed countries with chronic current account deficits, excess investment over savings and negative international investment positions, among them Australia, the UK, New Zealand, USA and others.
The United States occupies a special position in the world economy and in the system of international monetary and credit relations: they give a lot to other countries, but receive even more from outside. The United States has a chronic deficit in the main items of the balance of payments. For developing countries, external debt is a new form of dependency, dangerous and burdensome. It can be seen as a "loan trap" that, due to interest payments, makes the debt unpayable and determines its cumulative growth. The external debt of insolvent debtors is essentially an instrument of subordination, with the help of which the development of these countries is oriented in a direction that ensures, above all, the fulfillment of obligations to creditors. The level of debt dependence and the severity of the debt, the ability of the debtor country to continue servicing external debt is determined by many indicators.
The external debt of developing countries began to accumulate from the first post-war decades of their development on an import-substituting model without a corresponding expansion of exports. In most countries, a deficit economy has formed, filling the shortage of its own resources with external compensatory financing with a growing share of borrowed resources. Many countries with economies in transition were forced to turn to the world community for assistance. The debt payments of Russia and other countries were to some extent settled in the course of negotiations with the IMF, the Paris and London clubs. New credits and loans were received in exchange for commitments to implement emergency and long-term measures to improve the economy, the implementation of which is carefully monitored by the IMF and is a sine qua non for receiving the next tranche. The problem of foreign debt has become long-term and intractable for Russia. Its settlement requires, first of all, an accelerated rise in the national economy and its further systemic and structural transformation; multiple increase in income, including foreign exchange; competent negotiation with creditors, development and implementation of a debt strategy to overcome insolvency, taking into account the existing world experience in resolving such problems.
Measures within the framework of the debt strategy include market and non-market, concession and non-concession methods of easing the debt burden and reducing external debt and payments for its service. Due to this wide use received debt-to-equity conversions, others securities at a discount from face value or at a reduced percentage, conversions to environmental and other funds; repurchase of debts at a discount, conversion of short-term debt into long-term, capitalization of interest payments and others. For countries with over-indebtedness and underdevelopment, as well as with a lower average level of development, various operations are being carried out to improve the conditions of debt repayment, as well as to reduce its volume and payments for its service to an acceptable level.
At the beginning of the new millennium, external debt remains a serious problem for many countries. Developing countries with difficulties in servicing their debt obligations have a debt burden close to critical or higher. Emerging economies have lower debt burdens, but many are insolvent.
2. Name the main forms of international economic integration and give them a brief description
The development of integration processes in the world economy, observed in recent decades, was a natural result of the growth in the volume of international trade and the increase in the intensity of the international movement of factors of production, which required the creation of more reliable production and marketing relations between countries, as well as the elimination of still existing obstacles to international trade and the movement of factors of production between countries.
It turned out to be possible to do this only within the framework of interstate integration associations (political and economic).
Economic integration is understood as the process of economic interaction between countries, leading to the liberalization of international economic relations, which is reflected in the reduction and removal of restrictions on their implementation.
There are three main approaches to the liberalization of world economic relations and, above all, world trade: international, regional and transnational.
The international approach is implemented through international conferences (rounds) under the auspices of the World Trade Organization, the purpose of which is to reduce tariff and non-tariff barriers in international trade around the world.
The transnational approach is being actively implemented, in recent years, in particular, through the production and economic activities of transnational companies (TNCs).
The regional approach involves the achievement of agreements between a small number of states, the purpose of which is to establish a free trade regime among themselves while maintaining trade restrictions with the rest of the world. The European Communities (EC) and the US-Canada-Mexico Agreement (1994) are the best-known examples of such preferential trade relations.
First of all, it should be noted that preferential trade agreements can be implemented in the form of the following structural entities: preferential trade club, free trade zone, customs union, common market, economic union (full economic union).
At the same time, the preferential trade club is the lowest level of economic integration, and the economic union is the highest.
Preferential trade club (association). Two or more countries form a preferential trading club if they reduce import duties on all goods (excluding capital) for each of the members of the club while maintaining their original tariffs for the rest of the world. An example of such a form of economic integration can be the "Commonwealth of Nations Preference System", formed in 1932 by Great Britain and 48 states, most of which were its own colonies.
Free trade Area. Two or more countries form a free trade zone (free trade association) if they abolish all trade barriers (duties and quantitative restrictions) among themselves, but each retains its own trade barriers in relation to third countries. In such a zone, customs control at the borders of the participating countries should be maintained. Its purpose in this case is to tax or prohibit imports from third countries that could enter the zone through the low customs barrier of a neighboring participating country. An example of a free trade area is the European Free Trade Association (EFTA), formed in 1960 by Austria, Denmark, Norway, Portugal, Sweden, Switzerland and the UK.
Customs Union. Two or more countries form a customs union if they abolish all customs restrictions in mutual trade in all goods (except for servicing capital), and also accept (establish) a single system of external trade barriers with third countries, thereby removing the need to maintain a customs service at internal borders . In terms of trade, an example of a customs union is the European Economic Community (EEC).
The common market creates a customs union and, in addition, allow free movement of all factors of production among themselves (migration work force and capital).
An example of a common market is the EEC or the European Common Market, which has the official name of the European Communities.
Economic Union. Two or more countries form an economic union if they create a common market and, in addition, unify their economic policies, including monetary, tax and social, as well as policies regarding trade and the movement of labor and capital. A prime example An economic union can be the United States of America, where 50 states are united in a full economic union with a common currency and a single Central Bank (Federal Reserve System). Trade between the individual states is free, and capital and labor move freely in pursuit of maximum profit. Fiscal and monetary policies, as well as international relations, military spending, pensions, health programs, are unified and provided by a single federal government. Other programs, such as education, culture, law enforcement (police), are funded by the states, which allows the latter to assert their "identity" within the union.
Economic Union is the highest form of economic integration that the European Community is currently striving for.
3. Suppose that the state of Russia's balance of payments in the N year is characterized by the data given in the table (billion dollars). Net omissions and errors, according to the IMF methodology, are included in other investments
Determine the missing values of the main components of the balance of payments.
Transfers that are not current are, by definition, capital transfers. They lead to a change in the volume of assets or liabilities of the donor and recipient. If the donor and recipient are non-residents of each other, then the capital transfer results in a change in the level of national wealth of the economies they represent. An example of capital transfers is the transfer of ownership of fixed assets, debt forgiveness. Free transfers Money are considered as a capital transfer only if these funds are intended for the acquisition of fixed assets (funds.
The "Capital Account", in addition to capital transfers, reflects the acquisition (sale) of non-produced intangible assets, for example, patents, licenses, trademarks.
Other investments cover all transactions in assets or liabilities that are not classified in the three functional categories.
The export of goods and services means an increase in claims on non-residents (which is recorded in the balance of payments with a “+” sign) and, consequently, a decrease in financial obligations to non-residents (which is recorded with a “-” sign). In principle, the sum of the two accounts should give zero. As a result of the export of goods and services, the country accumulates foreign exchange reserves, from which, in particular, payment for imports is made.
In the absence of sufficient foreign exchange reserves to pay for imports, a country may resort to foreign loans, which are not mediated by the export of goods and services (but which must be covered in the future by increasing national exports). In this case, the trading side of the transaction (importation of goods or services) means the appearance of debt to foreigners that needs to be repaid (which is recorded with a “-” sign), and attracting loans from non-residents means an increase in obligations to foreigners (which is recorded with a “+” sign).
That is why the balance of payments is divided into two large sections: the account current operations(current account balance) and capital account and financial instruments.
Summing up the first and second sections of the balance, as well as the article "Errors and omissions" allows you to sum up the final balance, which can have either a positive or negative balance.
If the final balance is positive, then, consequently, the country increases its claims to other countries and, accordingly, its obligations to them decrease by the same amount. On the contrary, if the final balance of the balance sheet is negative, then, therefore, it must increase its obligations to other countries in order to cover the deficit in the balance of payments.
That is why, in this subsection of the balance sheet (balancing items), the “+” sign means an increase in liabilities to non-residents or a decrease in claims on non-residents (and, therefore, a worsening of the balance of payments). The "-" sign means a decrease in obligations to foreign countries or an increase in requirements for the latter.
The value of the article "goods" is defined as the difference between the articles "goods and services" and "services".
The size of the “other investment” item is defined as the difference between the “Financial account” item and the sum of the “direct investment”, “portfolio investment”, and “reserve assets” items.
The capital account includes: capital transfers; public administration sector; other capital transfers; acquisition/sale of non-produced, non-financial assets.
The capital account is defined as the difference between the inflow and outflow of capital, in this case, as the sum of the items “investment income and wages”, “direct investment”, “portfolio investment”, “other investment.
Then we find the "Current Account" and "Capital and Financial Instruments Account"
4. What goods prevail in Russia's foreign trade? Provide actual data for recent years. How can one assess the impact of foreign trade on the economy of our country (both positive and negative aspects)? Argument your opinion with the involvement of the latest factual material
International (foreign trade) - trade with other countries, export of goods from the country and import of goods into the country. Raizberg B.A., Lozovsky L.Sh., Starodubtseva E.B. Modern economic dictionary. - M.: INFRA-M, 2009 This is an ancient and traditional form of international economic relations. According to historical studies, foreign trade is older than crafts and agriculture. Unlike domestic trade, foreign trade ensures the movement of goods between states, which inevitably gives rise to certain contradictions and problems arising from long distances and the time factor, differences in traditions, national money, etc.
The role of foreign trade in international economic relations has been constantly growing. The growth of foreign trade was not uniform, but this did not change general trend its development. Many economists establish a causal relationship between the growth of foreign trade and the growth of world production and wealth. According to customs statistics, Russia's foreign trade turnover in 2009 amounted to 469.0 billion US dollars (taking into account data on trade with the Republic of Belarus) and decreased by 36.2% compared to 2008 (which, like the decrease in other indicators of exports and imports was one of the consequences of the global economic crisis), including with non-CIS countries - 400.5 billion US dollars (a decrease of 36.3%), with CIS countries - 68.5 billion US dollars (a decrease of 35 .5%) (Fig. 1). The trade balance was positive in the amount of 134.3 billion US dollars, which is 66.2 billion US dollars less than in 2008. At the same time, in trade with non-CIS countries, the balance amounted to 109.3 billion US dollars (a decrease by 58.1 billion US dollars), with the CIS countries - 25.0 billion US dollars. United States (down $8.0 billion).
Rice. 1
Russian exports in 2009 amounted to 301.6 billion US dollars and decreased by 35.5% compared to 2008, including to non-CIS countries - 254.9 billion US dollars (a decrease of 35.9%), to the CIS countries - 46.7 billion US dollars (decrease by 32.9%).
The reason for the decline in the value of Russia's exports in 2009 compared to 2008 was a sharp drop at the end of 2008 in the price level of the main raw materials exported by Russia, while it should be noted that during 2009 their gradual growth was recorded.
The basis of Russian exports in 2009 to non-CIS countries were fuel and energy products, the share of which in the commodity structure of exports to these countries amounted to 69.5% (in 2008 - 72.6%) and, compared with 2008, the value of these goods decreased by 38.6%.
In the total volume of exports to non-CIS countries, among the goods of the fuel and energy complex, 50.0% of the value volume is occupied by crude oil, the physical volume of supplies of which increased by 2.9% compared to 2008, while the value decreased by 37.9%. At the same time, starting from April 2009, there has been a gradual increase in average contract prices for crude oil (price growth in December 2009 against the price in January 2009 amounted to 177.2%).
Among the goods of the fuel and energy complex, the physical volumes of exports to non-CIS countries of hard coal increased by 15.8%, oil products - by 7.1%, including: motor gasoline - by 8.0%, kerosene, jet fuel - by 96 0%, diesel fuel - by 9.7%, liquid fuel - by 5.7%. The physical volumes of exports of Russian natural gas and electricity decreased by 23.9% and 1.8%, respectively.
In the total value of exports to non-CIS countries, the share of metals and metal products in 2009 amounted to 11.2% (in 2008 - 11.4%). The physical volumes of exports of ferrous metals and products from them decreased by 6.6%, including: semi-finished products from iron and non-alloyed steel - by 9.4%, cast iron - by 12.2%; the physical volumes of exports of flat rolled iron and non-alloyed steel increased by 47.7%, copper - by 2.5 times, aluminum - by 6.2%, nickel - decreased by 3.1%.
In the commodity structure of exports, the share of chemical products in 2009 amounted to 5.7% (in 2008 - 6.0%). Compared to last year, the value of these products decreased by 39.0%, physical volume - by 15.0%. The decrease in the cost and physical volumes of exports occurred in almost all commodity groups of products of the chemical industry. The exceptions were: nitrogen fertilizers, the physical volume of which increased by 15.6%, mixed fertilizers - by 19.3%, plastics and products from them - by 66.8%.
The share of exports of timber and pulp and paper products in 2009 amounted to 2.6% (in 2008 - 2.3%). Compared to 2008, the physical volumes of exports of unprocessed timber decreased by 41.0%, pulp - by 17.8%, while the physical volumes of deliveries to non-CIS countries of sawn timber - by 4.7%, newsprint - by 12, 6%.
The share of exports of machinery and equipment in 2009 amounted to 4.6% (in 2008 - 2.8%). The value of the supply of funds land transport(except railway) increased by 28.5%; at the same time, deliveries of electrical equipment decreased by 7.9%, mechanical equipment- by 5.2%. The physical volumes of exports of cars and trucks decreased by 18.3% and 25.4%, respectively.
Russian imports in 2009 amounted to 167.4 billion US dollars and decreased by 37.3% compared to 2008, including from non-CIS countries - 145.6 billion US dollars (a decrease of 36.8%), from the CIS countries - 21.8 billion US dollars (decrease by 40.5%).
The decrease in the cost volumes of Russian imports in 2009 was associated with a reduction in the physical volumes of import deliveries, while the average prices of imported goods remained almost at the level of the previous year. http://www.gks.ru/bgd/free/b04_03/IssWWW.exe/Stg/d04/159.htm
debt world debt trade
List of used literature
- 1. http://www.wto.ru/documents.asp?f=stats&t=16.
- 2. Raizberg B.A., Lozovsky L.Sh., Starodubtseva E.B. Modern economic dictionary. M.: INFRA-M, 2009.
- 3. http://www.gks.ru/bgd/free/b04_03/IssWWW.exe/Stg/d04/159.htm.
- 4. Guidelines.
Problems of the world community in the aspect of international trade and ways to solve these problems
Control work on the world economy.
Topic: "Problems of the world community in the aspect of international trade and ways to solve these problems .
I . International trade.
The need for the emergence and development of a system of relations for the international exchange of goods and services is due to many reasons. One of them is that practically no country has the amount and range of resources necessary to fully meet the entire system of needs. Each country has a limited amount of labor and capital, allowing it to produce various goods that are part of the GDP. If a country has the best conditions for the production of certain goods and the costs associated with this are minimal, then this allows it, by increasing the production of this product and selling it to other countries, to buy goods that cannot be produced domestically or their production is too expensive. Therefore, always the reasons for the existence of foreign trade relations, and, consequently, the modern world market, remain the international division of labor and the mutual benefit of exchange.
In order for a country to trade on the world market, it needs to have export resources, i.e. stocks of competitive goods and services that are in demand on the world market, currency funds or other means of payment for imports, as well as a developed foreign trade infrastructure: vehicles, warehouses, communication facilities, etc.
Foreign trade is the traditional and most developed form of international economic relations. According to some estimates, trade accounts for about 80 percent of the total volume of international economic relations. Modern international economic relations, characterized by the active development of world trade, bring a lot of new and specific to the process of development of national economies.
For any country, the role of foreign trade can hardly be overestimated. A-priory
J. Saksa, “... the economic success of any country in the world is based on foreign trade. No country has yet managed to create a healthy economy by isolating itself from the world. economic system»
International trade is a form of communication between commodity producers different countries, arising on the basis of the international division of labor, and expresses their mutual economic dependence.
Structural shifts taking place in the economies of countries under the influence of the scientific and technological revolution, specialization and cooperation of industrial production enhance the interaction of national economies. This contributes to the intensification of international trade.
International trade has some specific features that deserve special attention.
1) Differences in mobility.
It should be noted that the mobility (ability to move) of resources between countries is significantly lower than within the country. Differences in tax laws, other government regulations, and business practices
and a number of other institutional barriers limit the migration of real capital across national borders. International trade acts as a substitute for international resource mobility. If human and material
resources cannot move freely between countries, the movement of goods and services can effectively fill this gap.
2) Currency
.
with Japanese and British manufacturers.
3)Policy
.
International trade is subject to political interference and controls that are markedly different in degree and nature from those applied to domestic trade.
Economic basis trade.
Why do states trade? What is the basis of trade between countries? Generally speaking, international trade is a means by which countries can develop specialization, increase the productivity of their resources, and thus increase overall output.
At the heart of a more in-depth study of the question: “Why do countries trade?”, - there are 2 circumstances.
1) Economic resources - natural, human, investment goods - are distributed among the countries of the world extremely unevenly; countries differ significantly in their endowment with economic resources.
International trade is undoubtedly important for the economic activity of every state. Contributing to the development of foreign economic relations, it also has a number of problems associated with the exchange of goods and services. The problems of international trade were of interest to scientists and politicians even at a time when other areas of economic theory had not been developed.
Modern theories of international trade have their own history. The question is why do countries trade with each other? - was set by economists simultaneously with the emergence at the beginning of the 17th century of the first schools of economic thought, which began to pay attention to the development of foreign trade.
International trade occupies a special place in the complex system of inter-economic relations. Although in modern conditions the leading form of international economic relations is not the export of goods, but foreign investment, yet international trade in terms of its scope and functions in
multinational entities, international technology transfer, etc.
II. Problems of international trade.
Firms may become involved in foreign economic activity (international trade) for various reasons: Firms may need to purchase raw materials, goods and services from abroad to conduct their business, since the necessary materials, goods or services cannot be obtained from domestic producers. So they become importers.
Many firms can make a profit by selling their goods or services in markets abroad, that is, by becoming exporters.
Other firms act as export traders or import-export merchants, that is, they act as intermediaries between buyers and sellers in different countries.
International trade is a process of buying and selling between buyers, sellers and intermediaries in different countries. It is associated with many practical and financial difficulties for the firms involved in it. It is necessary to understand the nature of these difficulties, as well as the role of banks and other organizations in providing the means and procedures to overcome them.
Along with the usual problems of trade and commerce that come with any type of business, there are additional problems in international trade:
time and distance - credit risk and contract execution time;
Differences in laws and regulations;
· government regulations - exchange controls, as well as sovereign risk and country risk.
a) The effects of fluctuations in exchange rates: currency exposure and currency risk.
The main effect of exchange rate fluctuations on international trade is the risk for the exporter or importer that the value of the foreign currency they use in their trade will differ from what they hoped and expected.
prefers not to let their company be sensitive to unexpected changes. Therefore, businesses are looking for ways to minimize or eliminate exposure to foreign currencies in order to plan business operations and forecast profits more reliably.
Importers seek to minimize exposure to foreign exchange for the same reasons.
But, as with an exporter, most businessmen prefer to minimize or avoid their exposure to foreign currencies, and importers prefer to know exactly how much they will have to pay in their currency rather than gamble on exchange rates. Exist various ways eliminating exposure to foreign exchange. They are carried out with the help of banks.
In international trade, the exporter must invoice the buyer in a foreign currency (for example, in the currency of the buyer's country), or the Buyer must pay for the goods in a foreign currency (for example, in the currency of the exporter's country). It is also possible for the payment currency to be the currency of a third country: for example, a firm in Ukraine may sell goods to a buyer in Australia and ask for payment in US dollars. Therefore, one of the problems of the importer is the need to obtain foreign currency to make the payment, and the exporter may have a problem of exchange. received foreign currency to the currency of their country.
The cost of imported goods to the buyer or the cost of exported goods to the seller may be increased or decreased due to changes in exchange rates. Therefore, a firm that makes payments or earns income in foreign currencies has potential "foreign exchange risk" due to adverse changes in exchange rates.
markets create a serious element of risk that may deter firms from participating in international agreements to buy or sell.
Currency risk does not arise where receipt payments are made in one currency, since payments in that currency can be made from cash receipts in the same currency.
b) Credit risk and contract lead time.
It can take a very long time between submitting an application to a foreign supplier and receiving the goods. When the goods are delivered over a long distance, the bulk of the delay between the application and delivery, as a rule, is due to the length of the transportation period. Delays may also be caused by the need to prepare appropriate documentation for shipment.
The exporter usually has to provide credit to pay for more long time than he would need if he sold the goods within his own country. In the presence of a large number foreign debtors, there is a need to obtain additional working capital to finance them.
V) foreign rules and laws.
Lack of knowledge and understanding of the rules, customs and laws of the country of the importer or exporter leads to uncertainty or distrust between buyer and seller, which can only be overcome after a long and successful business relationship.
One way to overcome the difficulties associated with differences in customs and characters is to standardize the procedures for international trade.
d) Sovereign and country risk.
Sovereign risk occurs when the sovereign government of a country:
receives a loan from a foreign lender;
Issues a loan guarantee on behalf of a third party in their home country, but then either the government or the third party refuses to repay the loan and claims immunity from prosecution. The creditor or exporter will be powerless to collect the debt, since he will be prohibited from taking his claim through the courts.
Country risk arises when the buyer does everything in his power to pay off his debt to the exporter (for example, takes the necessary steps in accordance with foreign exchange regulations, applying to the authorities for permission to conduct the necessary currency exchange to settle with the exporter), but when he needs to obtain this foreign currency, the authorities of his country either refuse to provide him with this currency, or cannot do so.
e) Government regulations.
Government regulations regarding imports and exports can be a major barrier to international trade. There are the following rules and restrictions:
resolutions on currency regulation;
export licensing;
import licensing;
trade embargo;
government regulations regarding legal safety standards, and quality or specifications for all goods sold domestically in this country, legal standards for health and hygiene, especially for food products; patents and trademarks; packaging of goods and the amount of information given on the packages;
the documentation required for customs clearing of imported goods can be very voluminous. Delays in customs clearing can be a significant factor in the overall problem of delays in international trade;
Decree on currency regulation.
Currency regulation is a system of control over the inflow and outflow of foreign currency into and out of the country. The terms "currency regulations" and "currency restrictions" usually refer to the extraordinary measures taken by a country's government to protect its currency, although the details of these regulations are subject to change.
But thanks to the international division of labor, each country can focus on the production of those goods that it can produce more efficiently and cheaper than other countries.
Reliance on own forces? This is a policy in which a state seeks to prevent the excess of imports over exports by tightly controlling the movement of goods and services or capital across its borders. Such a policy, as a rule, is followed by totalitarian countries, whose political regimes try to limit the external contacts of their citizens as much as possible.
Often self-reliance finds its adherents among a certain part of the population, who believes that an underdeveloped country can become dependent on a highly developed one and will not limit itself based on available resources. Each country must live and develop on its own means, but still no country can achieve any serious results in economic and social development if it does not resort to the use of the benefits of international exchange.
external impulse for the economic process. Any restrictions on foreign trade have a negative impact on the country's economy, but this does not mean at all that it should not be subject to state regulation. State regulation of foreign trade: Developed foreign trade intensifies competition between commodity producers, forcing them to close non-competitive and look for profitable production, improve the organization of labor, etc. Therefore, although the population as a whole benefits, the situation of some industries may worsen. denationalization of foreign trade in the course of moving towards a market is necessary.
Ideally, the market should decide for itself which products will be exported and which will be imported. In this case, there is no need for the state to fully regulate the foreign economic activity of enterprises. In the transition to market structures, one cannot do without the strong influence of the state, because at this stage it is important to optimize the export and import groups of goods and services.
relations. It contributes to the development of states, thanks to it the exchange of experience between countries is possible, and people receive a much wider choice of goods and services. Overcoming all the difficulties and problems, foreign trade is increasingly developing in our time.
480 rub. | 150 UAH | $7.5 ", MOUSEOFF, FGCOLOR, "#FFFFCC",BGCOLOR, "#393939");" onMouseOut="return nd();"> Thesis - 480 rubles, shipping 10 minutes 24 hours a day, seven days a week and holidays
Grafskaya Natalia Sergeevna. The current state, problems and directions of development of the world trade in licenses: dissertation... candidate of economic sciences: 08.00.14 Moscow, 2007 140 p. RSL OD, 61:07-8/3425
Introduction
Chapter I. Licenses as one of the mechanisms for ensuring the competitiveness of the national economy and industrial companies in the world economy 10
1. International licensing operations as a catalyst for innovative development and a means of updating foreign economic specialization 10
2. The main patterns of development of the world trade in licenses. International experience in the use of licenses in order to increase the competitiveness of the national economy 29
Chapter II. Realizing the benefits of licensed trading by multinational corporations 51
1. Place and role of TNCs in the world trade in licenses. International intercompany trade in licenses in competitive strategy TNC (internalization strategy) 51
2. Externalization strategy in the international licensing operations of TNK... 70
Chapter III. Foreign trade in licenses of the Russian Federation: state, problems, prospects, role in national development 86
1. Formation of the Russian license market. Analysis state of the art foreign licensed trade of the Russian Federation 86
2. Problems and prospects of participation of the Russian Federation in the world trade in licenses. The role of licenses in the industrial policy of the Russian Federation 101
Conclusion 117
References 127
Applications 137
Introduction to work
Relevance of the research topic. At the present stage of development of international economic relations, scientific and technical innovations and technologies have acquired a leading role in ensuring economic growth and competitiveness in the face of increased competition in the world market. In economic science, the term "new economy" has appeared, in which the main source of growth is knowledge and innovation. In the "new economy" in the system of factors that determine competitiveness, technological factors have come to the fore. Most important assets companies is not so much capital in material form, but new ideas and intellectual property rights - the main source of competitive advantages. In the conditions of the “new economy”, the guarantee of competitiveness is increasingly shifting to the sphere of research and development, which predetermines success in production and commercial activities.
The global trade in licenses is one of the key elements of the "new economy", providing dynamics, driving forces and directions for its functioning. The role of the licensing factor in the "new economy" is growing as the international division of labor in the field of research and development deepens, the number of scientific and technological advances expands, the rate of obsolescence of scientific and technical innovations accelerates, and R&D becomes more expensive. In the context of the globalization of the world economy and the increasing interdependence of national innovation systems, the indicators of world trade in licenses as the predominant form of international exchange of scientific and technical knowledge demonstrate steady growth. In recent decades, the profitability of international licensing operations has increased significantly.
Being one of the forms of international technology commercialization, scientific and technological innovations created within national
innovative systems, international licensing makes it possible to achieve
increasing the return on investment in R&D, thereby ensuring a more intensive use of the country's scientific and technical potential and acting as a powerful mechanism for stimulating national innovation. At the same time, international licenses provide access to technologies and R&D results of other countries. Hence, international licensing contains reserves for accelerating technological and scientific and technical development, accelerating economic growth (achieved by accelerating technological development) and technological modernization - tasks that are among the economic priorities for many countries, including Russia.
At the present stage, one of the key tasks economic development Russia is to give a new dimension to its integration into the world economy. The Russian economy and its organic inclusion in the world economy needs to be given a new quality, different from the raw orientation inherent in the Russian economy. The expansion of Russia's participation in the world trade in licenses may become one of the directions for solving this problem. This will allow Russia to take advantage of its high intellectual potential and ensure the promotion of the Russian economy into a highly profitable sphere.
For Russia, the problem is complicated by the fact that the Russian license market (as a market that includes foreign and domestic trade in licenses) has been functioning for no more than fifteen years. The practice of these years shows that the nature and extent of Russia's participation in the world trade in licenses does not correspond not only to its scientific and technical potential, but also to the status of one of the leading world powers. The abnormality of the current situation is reinforced by the fact that Russia undoubtedly has large reserves for strengthening its position in the world as a whole, including in the global economy. In this regard, there is an urgent need for theoretical development of licensing issues, as well as studying international experience in the use of licenses in order to increase
competitiveness of the national economy and national industrial companies in the world market.
For Russia, all these issues become all the more relevant in the context of accession to the WTO. It is important not only to increase the level of protection of intellectual property (bringing Russian legislation in the field of intellectual property in line with WTO requirements), but also to master the mechanism of international licenses as a civilized form of business at all levels, including trade in scientific and technical knowledge.
The degree of development of the theme determined by the complexity and specifics of the subject of research. It should be recognized that in most works on licensed trade, the legal approach dominates, and the authors proceed from the interpretation of the license mainly as an instrument of legal relations. The imperfection of this approach lies in the fact that the economic side of licensed trade is relegated to the background: commercial conditions for the purchase and sale of licenses, pricing issues, and the economic effect of licensed operations.
Moreover, in the existing Russian publications, increased importance is attached to applied issues. This is largely due to the fact that for many decades there was no national license market as such in Russia, intellectual property objects were practically withdrawn from trade. It is all the more important for Russia at the present stage to study the problems of the world trade in licenses.
This range of problems objectively requires new theoretical research in this area, which would allow us to generalize the accumulated practical experience and re-evaluate the role of international licenses, taking into account the structural changes that have taken place in the world economy.
The purpose of this study is to determine the role of the world trade in licenses in the world economy, to analyze the effectiveness of the mechanism
international licenses at the present stage, search for application opportunities for Russia.
To achieve this goal, it was necessary to solve the following main tasks:
explore the economic essence of international licensing operations in conjunction with modern trends in the development of the world economy and analyze their effectiveness as a means of ensuring the competitiveness of the national economy and industrial companies;
identify the main patterns of development of the global license market and give them a quantitative assessment; analyze the experience of individual countries in using the mechanism of international licenses and determine the possibilities of its application, taking into account Russian specifics, in order to ensure national interest and national security;
assess the impact of TNCs on the evolution of the world trade in licenses, their role at the present stage and the peculiarities of their realization of the advantages of licensed trade;
determine the role of licenses in ensuring Russia's national development strategy; establish a set of factors that determine the degree and nature of Russia's participation in the world trade in licenses, and identify opportunities for expanding this participation.
Work structure logically determined by the tasks that the author has set for himself.
The work consists of an introduction, three chapters, a conclusion, a list of references and appendices.
Object of study is the world trade in licenses as a form of international economic relations, legally mediating the international transfer of technology and in essence close to international investment transactions.
This study focuses on industrial property as the subject of international licensing agreements. There are also licensing agreements on the transfer of rights to computer programs and databases, topologies of integrated circuits (ICs), selection achievements, which also belong to the intellectual property system, but go beyond the scope of industrial property and therefore have their own specifics.
This study also focuses exclusively on civilian technologies. Military and dual-use technologies as a segment of the global high-tech market have their own specifics; therefore, a wide range of issues related to them are not specifically considered in this study.
Subject research are economic, legal, organizational relations that arise between participants in the world trade in licenses at the micro, meso and macro levels.
Development hypothesis lies in the assumption that at the present stage, licensed trade has become an important management tool associated with scientific and technical progress, and is a necessary condition for Russia's integration into the world economy.
Theoretical and methodological basis of the study
were the works of leading Russian and foreign scientists in the field of world trade in licenses, intellectual property and the world economy. The dissertation is based on monographs and publications in periodicals of the following Russian researchers: Aldoshin V.M., Boguslavsky M.M., Bromberg G.V., Volynets-Russet E.Ya., Gerchikova I.N., Gradobitova L.D. , Evdokimova V.N., Emelyanova SV., Ivanova O.V., Karpova N.N., Korchagina A.D., Kravets L.G., Mokrysheva V.V., Muhopada V.I., Rozhkova K. L., Sokolova S.S., Feigelson V.M. and others. The author also relied on the work of foreign economists: Daniels D.D.,
Kotler F., Coulter M, Mansfield E., Porter M., Radeba L.H., Robins S. et al.
The research methodology is a combination of the basic components of scientific knowledge, such as dialectical logic, methods of system analysis, economic and statistical methods.
Information sources. The primary sources of the study were international agreements in the field of world trade, protection and commercialization of intellectual property, international investment, statistical materials and publications of international economic organizations (WTO, UNCTAD), statistical collections, materials of Rospatent and Russian legislation.
Scientific novelty the dissertation is determined by the complex target nature of the study of the problems of international licensing in relation to the world economy, taking into account the importance of this area as a condition for Russia's integration into the system of world economic relations, and is as follows:
a comprehensive analysis of the effectiveness of international licensing operations as a means of ensuring the competitiveness of the national economy and industrial companies in the world economy;
proposed and substantiated the concept of using absolute and relative indicators of licensed trade to assess the scientific and technical potential of the country (the effectiveness of national R&D, their efficiency and level);
identified and disclosed the main directions for the implementation of the advantages of licensed trade by TNCs;
The practical significance of the work.
The conclusions and recommendations contained in the work can be used by the legislative and executive bodies of the Russian Federation in the development and implementation of concepts public policy in the field of Russia's participation in the international license exchange, innovative development strategy, state policy in the field of commercialization Russian technologies on the world market, as well as the development of regulations in the field of regulation of foreign licensed trade and the development of measures aimed at stimulating its development.
The main conclusions and proposals can be used for further theoretical research and methodological developments on the problems of world trade, trade aspects of intellectual property rights, and international technological exchange.
The results obtained during the study can be used
in the educational process when teaching academic disciplines "World
economy”, “International economic relations”,
"Foreign Economic Activity", "World Trade".
Approbation and implementation of the results of the work. The dissertation was completed at the Department of World Economy and International Economic Relations of the Diplomatic Academy of the Ministry of Foreign Affairs of the Russian Federation and was tested at its meeting. The main conclusions reached by the author in the course of the study were tested at scientific conferences.
International Licensing Operations as a Catalyst for Innovative Development and a Means of Renovating Foreign Economic Specialization
As you know, one of the key priorities Russian Federation in the field of international economic relations is to promote such development of the national economy, which, on the one hand, ensures the formation of a market economy in the country, and on the other hand, the formation of an updated type of foreign economic specialization that guarantees the maximum economic effect from the country's participation in the international division of labor. No matter how important the development of the Russian raw materials sector is, especially at the current stage, the Russian economy and its integration into the world economy must be given a new dimension that would ensure the most complete realization of its high intellectual potential. International licensing operations, which arose as a form of international economic relations in the postwar period, at the present stage are one of the means of accelerating innovative development and updating the country's foreign economic specialization. Ample opportunities for stimulating national innovations and continuous improvement of foreign economic specialization lie both in the export of licenses and in their import (there are, however, certain risks). This path is typical for all dynamically developing countries of the world (the leading developed countries use the mechanism of international licenses most actively) - as a reflection of modern trends in the development of the world economy, namely, the increasing role and importance of the intellectual factor in its development.
The intellectualization of the world economy has led to the activation of innovation processes, bringing scientific and technical knowledge to the fore in economic growth and international competitiveness, changing the nature of income generation. The role of intellectual assets of companies, IP protection, as well as various mechanisms for the international commercialization of IP and gaining access to it, one of which is licensed trade, has noticeably increased.
In this regard, one should refer to some general key provisions from the field of patent-licensing relations related to the commercialization of IP and essential for the study of the economic essence of licensing operations.
International licensing operations are inextricably linked with the legal protection of inventions by national patent legislation1, which grants the patent owner a monopoly (exclusive) right to use the invention. This means that during the term of the patent, only the patent owner has the right to manufacture, use and sell products embodying this invention. The same monopoly rights are granted by law to the owners of other objects of industrial property (industrial designs, utility models, trademarks, etc.). Patent protection means that without the permission of the patent owner, i.e. license, no one has the right to use the subject matter of the patent in any way, and the patent owner can hold violators of his patent rights liable.
The essence of the international licensing operation is that the patent owner or owner intellectual product who does not enjoy patent protection (licensor) issues a permit (license) to an interested party abroad (licensee) for industrial and commercial use within certain limits and for a certain time of an industrial property subject matter for a contingent fee (license fees).
In its essence, licensing is comparable to an international rental operation, during which the leasing (and not the sale) of an invention or other object of industrial property as a commodity takes place. The licensor only transfers to the licensee the rights to its industrial and commercial use for a certain period, while retaining ownership of it, i.e. the title of the right holder (among other things, this is expressed in the fact that the regular payment of patent fees to maintain the patent in force is still the responsibility of the licensor).
Technically, the granting of a license is carried out by transferring the necessary technical documentation (technical projects, drawings, samples, working and wiring diagrams, etc.). Quite often, the agreement provides for the supply by the licensor of related facilities: equipment (of a one-time nature); components, assemblies, parts, semi-finished products and raw materials, materials (systematically within a specified period) - to quickly establish production and / or ensure proper product quality. Technical assistance from the licensor may take other forms: setting up the production of licensed products, training the personnel of the licensee, technical consultations.
The main patterns of development of the world trade in licenses. International experience in the use of licenses in order to increase the competitiveness of the national economy
If before the First World War, most licensing agreements were concluded between partners located in one country (domestic licenses prevailed), then from the second half of the 20th century, under the influence of scientific and technical progress, in the context of the intensification of technological exchange between countries, the world trade in licenses began to develop rapidly.
The rapid development of international licensing operations in the post-war period and their wide distribution at the present stage of the development of international economic relations has an objective character. It is due to the international division of labor in the field of research and development, the deepening of the international research specialization of companies, the expansion of the number of areas and areas of scientific and technical progress, and the rise in the cost of R&D. In the context of the globalization of the world economy, national innovative systems become more and more interdependent. No country is able, relying only on its own innovative capabilities, to generate the entire amount of knowledge that is necessary for sustainable economic growth and maintaining (and increasing) its competitiveness. Therefore, in order to solve the problems of economic development, active participation in the international exchange of scientific and technical knowledge is becoming increasingly important. Countries participating in this exchange on the basis of international licensing agreements receive, on the one hand, access to new technologies, and, on the other hand, the possibility of international commercialization of innovations created within their national innovation systems.
For the decade 1960-1970. volumes of world trade in licenses tripled, and in the period from 1960 to 1980. increased by more than an order of magnitude (see Table 1). Since then, the number of objects of international licenses has significantly expanded (primarily due to know-how), new forms of license exchange (related licenses) have appeared, new science-intensive industries have become involved in the sphere of licensing, the validity period of license agreements has sharply decreased (from 15-20 years to 5-10 years and even less) due to the accelerated obsolescence of scientific and technical innovations, and TNCs have become the main participants in international licensing operations. In modern conditions, the indicators of licensed trade continue to show steady growth: in 1990-1999. there was a more than twofold increase in the volume of world trade in licenses (see Table 1); the average annual growth rate was 10%, which is significantly higher than the average annual growth rate of international merchandise trade (6%) for the period.
It is characteristic that the domestic licensed trade has not lost its importance for the development of national economies (take, for example, licenses issued by universities to private businesses), but the ratio of foreign trade in licenses to the volume of operations in the domestic market in most countries does not speak in favor of the latter. The predominant use of international licenses is explained by a number of reasons:
1. The price of licenses on the world market is much higher than on the domestic one. 2. Patent-owning companies usually consider it strategically inexpedient to sell licenses to their own competitors in the domestic market, fearing the strengthening of their positions in the world market, and prefer foreign companies as partners in licensing transactions, severely limiting the licenses granted to them by a certain territory.
3. Quite often, the proposed object of the license no longer has novelty and high technical value in the country of the licensor (i.e. the product is at the stage of maturity of its life cycle and approaching the stage of decline), but has those in the country of the licensee and therefore is of greater interest to local firms there.
4. International licensing has come into use and how effective way penetration into hard-to-reach foreign markets. The nature and degree of participation in the world trade in licenses is determined primarily by the scientific, technical and economic potential of the country.
Currently, global innovation activity is concentrated in industrialized countries. Of the $676.5 billion spent worldwide on R&D in 2002, they accounted for more than 91%; moreover, in the countries of the "triad" - the United States, Japan, the European Union - 86% of the total amount was spent (see Table 2). A similar picture emerges if the assessment of innovative activity is based on such an indicator as patent activity: in 2001-2003. of all foreign patent applications filed annually with the US Patent and Trademark Office22, an average of 83% were filed by inventors from developed countries (see Table 3). It is no secret that the lion's share of all patents in the world belongs to companies in the US, EU countries and Japan.
Place and role of TNCs in the world trade in licenses. International intercompany trade in licenses in the competitive strategy of TNCs (internalization strategy)
The process of transnationalization and globalization of the IEO had a huge impact on the development of world trade in general and licensed trade in particular. Thus, in world trade, the share of independent trading partners has declined sharply and does not exceed xl%, more than one-third of world trade is under the control of TNCs. The shifts that have taken place in the global license market are a manifestation of this general trend. Under the influence of the above processes, a new direction of license exchange was formed: if in the 1950s-70s. international licensing transactions were concluded between independent participants from different countries, now the world trade in licenses is carried out mainly within the framework of TNCs (international intracompany trade in licenses), as well as between TNCs.
The volume of international licensed trade between independent companies began to yield to similar indicators of license exchange between parent companies of TNCs and their branches and subsidiaries abroad. Growth processes of international operating production in the 1970s. led to an increase in the share of intercompany transactions in the early 1980s. to about 1/3 of the total volume of world trade in licenses, and due to the rapid growth in the second half of the 1980s. (average annual growth rate - 21%) by 1990. it has already reached 55%. In 2004 the volume of international licensing transactions within TNCs amounted to almost 100 billion dollars. (see Table 9).
In the United States, the world's largest exporter and importer of licenses, intracompany operations account for 71% of the total volume of foreign licensed trade: 68% of exports and 77% of imports (see Table 10). Accordingly, American companies receive only 7% of all license fees from independent foreign partners, and even less is transferred to independent licensors from the USA - about XZ of all payments. It should be noted that the predominance of intra-company trade is by no means characteristic of US trade in services as a whole (it accounts for about XU of the total volume of exports, as well as imports of services).
The scale of international intercompany trade in licenses at the present stage (about 60% of all international licensing operations) allows us to conclude that it has become the main direction of the world licensed trade. Hence the conclusion follows: the geography and content of international licensing operations are now largely determined by the interests of TNCs, which, on the basis of licensing agreements, transfer technologies on a large scale to their foreign branches and subsidiaries.
Why are TNCs the main sellers in the global license market? The answer is obvious: it is a reflection of their dominant role in global R&D. In 2002 TNCs spent $310 billion on research and development. - about 1/2 (46%) of total R&D spending made worldwide and more than 1/3 (69%) of all spending in the business sector. Over 80% of TNCs from the list of 700 companies that make the largest investments in R&D are based in 5 countries of the "triad": the USA, Japan, Germany, Great Britain or France. Some large corporations outperform many countries in terms of R&D spending: in 2003. each of such giants as Ford Motor, Pfizer, DaimlerChrysler, Siemens, Toyota Motor and General Motors spent over $5 billion on R&D. - more than such industrialized countries as Finland, Austria, Denmark. And from the group of developing countries, states Southeast Europe and the CIS this amount was exceeded only by China, the Republic of Korea, Chinese province Taiwan and Brazil. In 2003 the total expenditure of TNCs on R & D increased by more than 5% - up to 327 billion dollars. It is not surprising that at this level of spending on innovative activity TNCs own almost 80% of all patents.40 Moreover, the lion’s share of all patents in the world, as you know, belongs to companies from the countries of the “triad”: the USA, Japan and the European Union.41 10 corporations, 4 American and 6 Japanese, were among the ten largest recipients of patents (from the private sector) in the US Patent and Trademark Office in 2002: IBM (3288 patents), Canon (1893), Micron Technology (1833), NEC Corporation (1821), Hitachi (1602), Matsushita Electric (1544) , Sony (1434), General Electric (1416), Hewlett-Packard (1385), Mitsubishi (1184).
So, occupying a dominant position in the field of global R & D and, as a result, concentrating in their hands the lion's share of all patents in the world, the TNCs of the "triad" countries are the main licensors in the global license market.
A comparison of the sectoral structure of R&D carried out by TNCs and the main branches of licensed trade leads us to the following important conclusion: the sectoral structure of the world trade in licenses is determined mainly by the specialization and scope of scientific and technical research conducted by the largest TNCs. Indeed, the license market of industrialized countries is characterized by the predominant development of international licenses in such industries as pharmaceuticals, computer equipment, electrical engineering and electronics, mechanical engineering, automotive, aerospace, and chemistry. As can be seen from Table 11, these are the very industries in which R&D expenditures of 700 TNCs leading in this indicator are concentrated.
Formation of the Russian market of licenses. Analysis of the current state of foreign licensed trade in the Russian Federation
The formation of the Russian license market was associated with market transformations and the creation in the early 90s. legislative and regulatory framework in the field of patent and licensing activities. The Patent Law of the Russian Federation, which entered into force on October 14, 1992, introduced a patent in the country as a unified form of legal protection of inventions, utility models and industrial designs, and their owners were assigned the exclusive right to own, dispose and use these intellectual property objects. Following the Patent Law, laws were adopted that establish exclusive property rights to other IP objects: Laws of the Russian Federation “On Trademarks, Service Marks and Appellations of Origin” (came into force on 10/17/92), “On the Legal Protection of Computer Programs and Databases" (came into force on 10/14/92), "On Copyright and Related Rights" (dated 07/09/93), "On the Legal Protection of Topologies of Integrated Circuits" (came into force on 10/14/92) , "On breeding achievements" (dated 08/06/93).
Obviously, before the adoption of the Patent Law, there could be no domestic trade in licenses in the country, since the rights to inventions protected by copyright certificates were in the hands of one owner - the state and could not be commercially exchanged within the country. The adoption of the Patent Law meant the legislative introduction of domestic trade in licenses in the Russian Federation. The licensed form of commercial exchange of protected objects of industrial property has also extended to know-how - scientific and technical achievements not protected by patents.
At the end of 1991, the Decree of the President of Russia “On the Liberalization of Foreign Economic Activity on the Territory of the RSFSR” abolished the previously existing permissive procedure for the sale and purchase of licenses abroad, and the right to negotiate with foreign partners and conclude external license agreements was given to all Russian organizations and enterprises registered as business participants.
Thus, only in the early 1990s it became possible to speak of the Russian market of licenses as a market that includes external and internal trade in licenses.
When studying the formation of the license market in the Russian Federation, one cannot ignore the long period of participation of the USSR in the international trade in licenses. Analysis of both negative and positive experience of centralized management of licensed activities is important for understanding many of the problems of its modern development. As many authors rightly point out, the significance of this period lies not only in real achievements in creating a system of patent and licensing activities and establishing strong licensing ties with foreign firms but also using the accumulated experience, knowledge and business connections at the present stage. On this basis, in essence, Russian business is mastering the skills of patenting, pricing, issues of developing the terms of license agreements, choosing partners for cooperation and other licensing problems.
In the post-war period, the leading industrialized countries were actively involved in the international trade in licenses. Despite the high scientific and technical potential, Soviet Union for a long time remained aloof from this process (except for single and extremely rare licensing deals). Understanding the importance of active participation in international technological exchange came only in the early 60s.
Decisions and relevant legislative acts were adopted aimed at creating a branched structure for the management of patent and licensing activities, which included patent and licensing departments and services at enterprises, in sectoral ministries and departments, in research centers, the Ministry of Foreign Trade, the State Committee for Economic Development and Trade, the Chamber of Commerce and Industry, the State Committee for Inventions, as well as foreign trade organizations. At the turn of the 60-70s. state planning of sales and purchases of licenses for ministries, departments and councils of ministers of the union republics was introduced. The created licensing activity management system was based on strict centralism, permissive procedure and detailed regulation of work, directive targeted tasks and budget financing.
The monopoly right of foreign trade in licenses belonged to the state represented by the specialized foreign trade association "Licensingtorg", other associations of the Ministry of Foreign Trade and the State Committee for Foreign Economic Relations (GKES), the specialized foreign trade organization "Vneshtechnika" (SCNT).
1. The concept of international trade ……………………………………..……..2
…………………...……3
1.3. Main indicators of world trade…………………………….…….5
……………………………………….….….6
3. Structure and main commodity flows of world trade ……………8
4. Types of world trade ………………………………………………………….….11
4.1. Wholesale…………………………………………………………………11
4.2. Commodity exchanges……………………………………………………………………13
4.3. Futures exchanges.................................................................................................14
4.4. stock exchanges………………………………………………………….………..16
4.5. Trade fairs………………………………………………………………………….…….16
4.6. Currency markets…………………………………………………………….……..17
5. Main problems of international trade …………...…...………….18
Conclusion …………………………………………………………………………..…….…20
1. The concept of international trade
International trade is a form of communication between producers of different countries, arising on the basis of the international division of labor, and expresses their mutual economic dependence. The following definition is often given in the literature: International trade is the process of buying and selling between buyers, sellers and intermediaries in different countries.
World trade is the most common form international relations. It existed long before the formation of the world economy and was its immediate predecessor. International trade exchange is both a prerequisite and a consequence of the international division of labor, and is an important factor in the formation and functioning of the world economy. In its historical evolution, it has gone from single foreign trade transactions to long-term large-scale trade and economic cooperation.
International trade includes the export and import of goods, the sum of which is called turnover, between all countries of the world. However, the concept of "international trade" is used in a narrower sense. It denotes, for example, the total turnover of industrialized countries, the total turnover of developing countries, the total turnover of the countries of a continent, region, for example, the countries of Eastern Europe, etc.
A powerful impetus to this process was the creation in a number of more industrialized countries (England, Holland, etc.) of large-scale machine production, focused on large-scale and regular imports of raw materials from the economically less developed countries of Asia, Africa and Latin America, and exports of manufactured goods to these countries. primarily for consumer use.
1.2. The main stages in the development of world trade
Originating in ancient times, world trade reaches a significant scale and acquires the character of stable international commodity-money relations at the turn of the 18th and 19th centuries.
In the XX century. World trade has gone through a series of deep crises. The first of these was associated with the World War of 1914-1918, it led to a long and deep disruption of world trade, which lasted until the end of World War II, which shook the entire structure of international economic relations to its foundations. In the post-war period, world trade faced new difficulties associated with the collapse of the colonial system. It should be noted that all these crises were overcome. Generally feature post-war period, there was a noticeable acceleration in the pace of development of world trade, which reached the most high level throughout the history of human society. Since the second half of the 20th century, when international exchange has taken on an “explosive character”, world trade has been developing at a rapid pace. In the period 1950-1994. world trade turnover increased 14 times. According to Western experts, the period between 1950 and 1970 can be described as a "golden age" in the development of international trade. Thus, the average annual growth rate of world exports was in the 50s. 6%, in the 60s. - 8.2. In the period from 1970 to 1991, the physical volume of world exports (that is, calculated at constant prices) increased 2.5 times, the average annual growth rate was 9.0%, in 1991-1995. this indicator was equal to 6.2%. Accordingly, the volume of world trade also increased. Recently, this figure has been growing at an average of 1.9% per year.
It was during this period that an annual 7% growth in world exports was achieved. However, already in the 70s it dropped to 5%, decreasing even more in the 80s. In the late 1980s, world exports showed a noticeable recovery (up to 8.5% in 1988). After a clear decline in the early 1990s, in the mid-1990s, it again demonstrates high sustainable rates, even despite significant annual fluctuations caused first by the September 11 attacks in the United States, and then by the war in Iraq and the resulting surge in world prices for energy resources.
So far, the developing countries have mainly remained suppliers of raw materials, foodstuffs, and relatively simple finished products to the world market. However, the growth rate of trade in raw materials lags markedly behind the overall growth rate of world trade. This lag is due to the development of substitutes for raw materials, their more economical use, and the deepening of their processing. Industrialized countries have almost completely captured the market for high technology products. At the same time, some developing countries, primarily the “newly industrialized countries”, have managed to achieve significant progress in the restructuring of their exports, increasing the share of finished products, industrial products, incl. machines and equipment. Thus, the share of industrial exports of developing countries in the total world volume in the early 1990s was 16.3%. Now this figure is already approaching 25%.
1.3. Main indicators of world trade
The foreign trade of all countries together forms international trade, which is based on the international division of labor. In theory, world trade is characterized by the following main indicators:
Foreign trade turnover of countries, which is the sum of exports and imports;
Export is the removal from the country of goods and services sold to a foreign buyer for sale on a foreign market, or for processing in another country. It also includes the transportation of goods in transit through a third country, the export of goods brought from other countries for sale in a third country, i.e. re-export.
Import is the importation of goods and services from abroad into the country. The import of material assets for their sale in the domestic market is a visible import. Imports of component parts, semi-finished products, etc. constitute indirect imports. Foreign currency costs for transshipment of goods, passengers, travel insurance, technology and other services, as well as transfers of companies and individuals abroad are included in the so-called invisible imports.
In addition, international trade is characterized by the following indicators:
overall growth rates;
growth rates relative to production growth;
growth rate of world trade relative to previous years.
The first of these indicators is determined by the ratio of the indicator of the volume of international trade of the year under review to the indicator of the base year. It can be used to characterize the percentage of changes in the volume of international trade over a certain period of time.
Attributing the rate of growth in international trade to the rate of growth in output is the starting point for identifying several characteristics that are important for describing the dynamics of international trade.
Firstly, this indicator characterizes the productivity of production in the country, that is, the amount of goods and services that it can provide to the world market for a certain period of time. Secondly, it can be used to assess the overall level of development of the productive forces of the state from the standpoint of international trade.
2. Theories of international trade
At different times, various theories of world trade appeared and were refuted, which in one way or another tried to explain the origin of this phenomenon, to determine its goals, laws, advantages and disadvantages. The following are the most common theories of international trade.
Mercantilist theory. Within this theory, it was believed that main goal of each state is wealth, and the world has limited wealth, and an increase in the wealth of one country is possible only at the expense of a decrease in the wealth of another country. At the same time, the role of the state in international economic policy was reduced to maintaining a positive trade balance and regulating foreign trade to stimulate exports and reduce imports.
The mercantilists were the first to emphasize the importance of international trade and were the first to describe the balance of payments. The main drawback of this theory is that here the development of countries is seen as possible only through the redistribution of wealth, and not through its growth.
A. Smith's theory of absolute advantages. It was believed that the well-being of nations depended not only on the amount of gold, but also on the ability to produce goods and services. Consequently, the task of the state is to develop production through the division of labor and cooperation. The formulation of the theory itself sounds like this: countries export those goods that they produce at lower costs, i.e. in the production of which they have absolute advantages, and I import those goods that are produced by other countries at lower costs, i.e. in the production of which the trading partners have an advantage.
This theory shows the advantages of the division of labor, but at the same time does not explain trade in the absence of absolute advantages.
D. Ricardo's theory of comparative advantage is formulated as follows: if countries specialize in the production of those goods that they can produce at relatively lower costs compared to other countries, then trade will be mutually beneficial regardless of whether production in one of them is absolutely more effective than the other or not.
This theory was the first to prove the existence of gains from trade and describe aggregate demand and aggregate supply. Although at the same time it does not take into account transport costs and the impact of foreign trade on the distribution of income within the country, acting only in conditions of full employment.
Heckscher-Ohlin's theory of ratio of factors of production. Operates with the concepts of factor intensity (the ratio of the cost of production factors to create a product) and factor saturation (provision with production factors). According to this theory, each country exports those factor-intensive goods for the production of which it has relatively excess factors of production, and imports those for the production of which it experiences a relative shortage of factors of production. This theory derives the reason for the influence of different factors of production on international trade. International trade leads to equalization of prices for factors of production in trading countries.
The limitation of the theory is that only two countries with identical technologies are considered and internal factors are not taken into account.
Leontief's paradox. The well-known economist Wassily Leontiev, studying the structure of US exports and imports in 1956, found that, contrary to the Heckscher-Ohlin theory, exports were dominated by relatively more labor-intensive goods, while imports were dominated by capital-intensive ones. This result became known as Leontief's paradox.
Thus, with the development of the concept of "international trade", its content became more complicated, although by now it has not been possible to create such a theory that would correspond to practice as much as possible.
3. Structure and main commodity flows of world trade
Looking at the structure of world trade in the first half of the 20th century (before the 2nd World War) and in subsequent years, we see significant changes. If in the first half of the century 2/3 of the world trade was accounted for by food, raw materials and fuel, then by the end of the century they account for 1/4 of the trade. The share of trade in manufacturing products increased from 1/3 to 3/4. And finally, more than 1/3 of all world trade in the mid-1990s was trade in machinery and equipment.
The commodity structure of world trade is changing under the influence of scientific and technological revolution, the deepening of the international division of labor. Currently, manufacturing products are of the greatest importance in world trade: they account for 3/4 of the world trade turnover. Particularly rapidly growing is the share of such types of products as machinery, equipment, vehicles, chemical products, manufacturing products, especially science-intensive goods. The share of food, raw materials and fuel is approximately 1/5.
Organizational and technical aspect studies physical exchange of goods and services between state-registered national economies (states). The main attention is paid to the problems associated with the purchase (sale) of specific goods, their movement between counterparties (seller - buyer) and crossing state borders, with settlements, etc. These aspects of MT are studied by specific special (applied) disciplines - organization and technique of foreign trade operations, customs, international financial and credit operations, international law(its various branches), accounting, etc.
Organizational and market aspect defines MT as combination of world demand and world supply, which materialize in two counter flows of goods and (or) services - world export (export) and world import (import). At the same time, the world supply is understood as the volume of production of goods that consumers are willing to collectively purchase at the existing price level inside and outside the country, and the aggregate supply is understood as the volume of production of goods that producers are ready to offer on the market at the existing price level. They are usually considered only in value terms. The problems that arise in this case are mainly related to the study of the state of the market for specific goods (the ratio of supply and demand on it - the conjuncture), the optimal organization of commodity flows between countries, taking into account a wide variety of factors, but above all the price factor.
These problems are studied by international marketing and management, theories of international trade and the world market, international monetary and financial relations.
Socio-economic aspect considers MT as a special type socio-economic relations arising between states in the process and about the exchange of goods and services. These relationships have a number of features that make them particularly important in the global economy.
First of all, it should be noted that they are global in nature, since all states and all their economic groupings are involved in them; they are an integrator, uniting national economies into a single world economy and internationalizing it, based on the international division of labor (IDL). MT determines what is more profitable for the state to produce and under what conditions to exchange the produced product. Thus, it contributes to the expansion and deepening of the MRT, and hence the MT, involving more and more states in them. These relations are objective and universal, i.e. they exist independently of the will of one (group) person and are suitable for any state. They are able to systematize the world economy, placing the states depending on the development of foreign trade (BT) in it, on the share that it (BT) occupies in international trade, on the size of the average per capita foreign trade turnover. On this basis, "small" countries are distinguished - those that cannot influence the change in the price of MR if they change their demand for any product and, conversely, "large" countries. Small countries, in order to make up for this weakness in this or that market, often unite (integrate) and present aggregate demand and aggregate supply. But large countries can also unite, thus strengthening their position in the MT.
Characteristics of international trade
A number of indicators are used to characterize international trade:
- cost and physical volume of world trade;
- general, commodity and geographical (spatial) structure;
- the level of specialization and industrialization of exports;
- coefficients of elasticity of MT, exports and imports, terms of trade;
- foreign trade, export and import quotas;
- trade balance.
World trade
World trade turnover is the sum of foreign trade turnover of all countries. Foreign trade turnover of the country- this is the sum of exports and imports of one country with all countries with which it is in foreign trade relations.
Since all countries import and export goods and services, world trade also defined as sum of world exports and world imports.
State world trade is estimated by its volume for a certain time period or on a certain date, and development- the dynamics of these volumes for a certain period.
The volume is measured in value and physical terms, respectively, in US dollars and in physical terms (tons, meters, barrels, etc., if it is applied to a homogeneous group of goods), or in conventional physical terms, if the goods do not have a single natural measurement . To assess the physical volume, the value volume is divided by the average world price.
To assess the dynamics of world trade, chain, basic and average annual growth rates (indices) are used.
MT structure
The structure of world trade shows ratio in its total volume of certain parts, depending on the chosen feature.
General structure reflects the ratio of exports and imports as a percentage or in shares. In physical volume, this ratio is equal to 1, and in total, the share of imports is always greater than the share of exports. This is due to the fact that exports are valued at FOB (Free on board) prices, according to which the seller pays only for the delivery of goods to the port and its loading on board the vessel; imports are valued at CIF prices (cost, insurance, freight, i.e. they include in the cost of goods, freight cost, insurance costs and other port fees).
Commodity structure world trade shows the share of a particular group in its total volume. At the same time, it should be borne in mind that in the MT a product is considered as a product that satisfies some social need, to which two main market forces are directed - supply and demand, and one of them necessarily acts from abroad.
Goods produced in national economies participate in MT in different ways. Some of them don't participate at all. Therefore, all goods are divided into tradable and non-tradable.
Tradable goods are freely movable between countries, non-tradable goods do not move between countries for one reason or another (uncompetitive, strategically important for the country, etc.). When talking about the commodity structure of world trade, we are talking only about tradable goods.
In the most general proportion in world trade, trade in goods and services is singled out. Currently, the ratio between them is 4:1.
In world practice, various systems classification of goods and services. For example, trade in goods uses the Standard International Trade Classification (UN) - SITC, in which 3118 main commodity items are combined into 1033 subgroups (of which 2805 items are included in 720 subgroups), which are aggregated into 261 groups, 67 departments and 10 sections. Most countries use the Harmonized Commodity Description and Coding System (including the Russian Federation since 1991).
When characterizing the commodity structure of world trade, two large groups of goods are most often distinguished: raw materials and finished products, the ratio between which (in percent) has developed as 20: 77 (3% others). For certain groups of countries, it varies from 15: 82 (for developed countries with market economies) (3% others) to 45: 55 (for developing countries). For individual countries (foreign trade turnover), the range of variations is even wider. This ratio may change depending on changes in the prices of raw materials, especially energy.
For more detailed characteristics product structure, a diversified approach can be used (within the framework of the SMTK or in other frameworks in accordance with the objectives of the analysis).
To characterize world exports, it is important to calculate the share of engineering products in its total volume. Comparing it with a similar indicator of the country allows us to calculate the industrialization index of its exports (I), which can be in the range from 0 to 1. The closer it is to 1, the more the trends in the development of the country's economy coincide with the trends in the development of the world economy.
Geographic (spatial) structure world trade is characterized by its distribution along the lines of commodity flows - the totality of goods (in physical terms) moving between countries.
Distinguish between commodity flows between countries with developed market economies (SRRE). They are commonly referred to as "West-West" or "North-North". They account for about 60% of world trade; between SRRE and RS, which stand for "West-South" or "North-South", they account for over 30% of world trade; between RS - "South - South" - about 10%.
In the spatial structure, one should also distinguish between regional, integration and intra-corporate turnover. These are parts of world trade, reflecting its concentration within one region (for example, South-East Asia), one integration group (for example, the EU) or one corporation (for example, any TNC). Each of them is characterized by its general, commodity and geographical structure and reflects the trends and degree of internationalization and globalization of the world economy.
MT Specialization
To assess the degree of specialization of world trade, the index of specialization (T) is calculated. It shows the share of intra-industry trade (exchange of parts, assemblies, semi-finished products, finished items of one industry, for example, cars different brands, models) in the total volume of world trade. Its value is always in the range 0-1; the closer it is to 1, the deeper the international division of labor (MRI) in the world, the greater the role of the intra-industry division of labor in it. Naturally, its value will depend on how broadly the industry is defined: the wider it is, the higher the T coefficient.
A special place in the complex of indicators of world trade is occupied by those that allow us to assess the impact of world trade on the world economy. These include, first of all, the coefficient of elasticity of world trade. It is calculated as the ratio of the growth rates of physical volumes of GDP (GNP) and trade. Its economic content lies in the fact that it shows by how many percent the GDP (GNP) increased with an increase in trade turnover by 1%. The global economy is characterized by a tendency to strengthen the role of MT. For example, in 1951-1970. the coefficient of elasticity was 1.64; in 1971-1975 and 1976-1980 - 1.3; in 1981-1985 - 1.12; in 1987-1989 - 1.72; in 1986-1992 - 2.37. As a rule, during periods of economic crises, the coefficient of elasticity is lower than during periods of recession and recovery.
Terms of trade
Terms of trade is a coefficient that establishes a relationship between the average world prices of exports and imports, since it is calculated as the ratio of their indices for a certain period of time. Its value varies from 0 to + ¥: if it is equal to 1, then the terms of trade are stable and maintain the parity of export and import prices. If the ratio increases (compared to the previous period), then the terms of trade are improving and vice versa.
MT elasticity coefficients
Elasticity of imports— an index that characterizes the change in aggregate demand for imports resulting from changes in the terms of trade. It is calculated as a percentage of import volumes and its price. In its numerical value, it is always greater than zero and changes to
+ ¥. If its value is less than 1, then a 1% increase in price has led to an increase in demand by more than 1%, and therefore, the demand for imports is elastic. If the coefficient is more than 1, then the demand for imports has grown by less than 1%, which means that imports are inelastic. Therefore, an improvement in the terms of trade forces a country to increase its spending on imports if demand is elastic, and to decrease it if it is inelastic, while increasing spending on exports.
Export elasticity and imports is also closely related to the terms of trade. With the elasticity of imports equal to 1 (a 1% drop in the price of imports led to an increase in its volume by 1%), the supply (export) of goods increases by 1%. This means that the elasticity of exports (Ex) will be equal to the elasticity of imports (Eim) minus 1, or Ex = Eim - 1. Thus, the higher the elasticity of imports, the more developed the market mechanism that allows producers to respond faster to changes in world prices. Low elasticity is fraught with serious economic problems for the country, if this is not due to other reasons: high capital investments made earlier in the industry, the inability to quickly reorient, etc.
These elasticity indicators can be used to characterize international trade, but they are more effective for characterizing foreign trade. This also applies to such indicators as foreign trade, export and import quotas.
MT quotas
The foreign trade quota (FTC) is defined as half the sum (S/2) of exports (E) and imports (I) of a country, divided by GDP or GNP and multiplied by 100%. It characterizes the average dependence on the world market, its openness to the world economy.
Analysis of the significance of exports for the country is estimated by the export quota - the ratio of the amount of exports to GDP (GNP), multiplied by 100%; The import quota is calculated as the ratio of imports to GDP (GNP) multiplied by 100%.
The growth of the export quota indicates the growth of its importance for the development of the country's economy, but this significance itself can be both positive and negative. It is certainly positive if the export of finished products expands, but the growth in the export of raw materials, as a rule, leads to a deterioration in the terms of trade for the exporting country. If, at the same time, exports are mono-commodity, then its growth can lead to the destruction of the economy, therefore such growth is called destructive. The result of this growth in exports is the lack of funds for its further increase, and the deterioration in the terms of trade in terms of profitability does not allow acquiring the necessary amount of imports for export earnings.
Trade balance
The resulting indicator characterizing the country's foreign trade is the trade balance, which is the difference between the sum of exports and imports. If this difference is positive (which is what all countries strive for), then the balance is active; if it is negative, it is passive. The balance of trade is an integral part of the country's balance of payments and largely determines the latter.
Modern trends in the development of international trade in goods and services
The development of modern MT occurs under the influence of general processes taking place in the world economy. The economic recession that affected all groups of countries, the Mexican and Asian financial crises, the growing size of internal and external imbalances in many states, including developed ones, could not but cause uneven development of international trade, a slowdown in its growth in the 1990s. At the beginning of the XXI century. the growth rate of world trade increased, and in 2000-2005. it increased by 41.9%.
The world market is characterized by trends associated with the further internationalization of the world economy and its globalization. They are manifested in the growing role of MT in the development of the world economy, and foreign trade in the development of national economies. The first is confirmed by the increase in the elasticity coefficient of world trade (more than twice as compared to the mid-1980s), and the second is by the growth of export and import quotas for most countries.
"Openness", "interdependence" of economies, "integration" are becoming key concepts for the world economy and international trade. In many ways, this happened under the influence of TNCs, which really became the centers of coordination and engines of the world exchange of goods and services. Within themselves and among themselves, they have created a network of relationships that go beyond the borders of states. As a result, about 1/3 of all imports and up to 3/5 of trade in machinery and equipment falls on intracorporate trade and is an exchange of intermediate products (component products). The consequence of this process is the barterization of international trade and the growth of other types of countertrade transactions, which already account for up to 30% of all international trade. This part of the world market is losing its purely commercial features and is turning into so-called quasi-trade. It is served by specialized intermediary firms, banking and financial institutions. At the same time, the nature of competition in the world market and the structure of competitive factors are changing. The development of economic and social infrastructure, the presence of a competent bureaucracy, a strong educational system, a stable policy of macroeconomic stabilization, quality, design, style of product design, timely delivery, and after-sales service are put forward in the foreground. As a result, there is a clear stratification of countries on the basis of technological leadership in the world market. Good luck accompanies those countries that have new competitive advantages, i.e., are technological leaders. They are a minority in the world, but they get most of the FDI, which enhances their technological leadership and competitiveness in the IR.
Significant shifts are taking place in the commodity structure of the MT: the share of finished goods has increased and the share of food and raw materials (without fuel) has decreased. This happened as a result of the further development of scientific and technical progress, which increasingly replaces natural raw materials with synthetic ones, and allows the implementation of resource-saving technologies in production. At the same time, trade in mineral fuels (especially oil) and gas has grown sharply. This is due to a complex of factors, including the development of the chemical industry, changes in the fuel and energy balance and an unprecedented increase in oil prices, which at the end of the decade, compared to its beginning, more than doubled.
In trade finished goods the share of science-intensive goods, high-tech products (microtechnics, chemical, pharmaceutical, aerospace, etc. products) is growing. This is especially clear in the exchange between developed countries - technological leaders. For example, in the foreign trade of the USA, Switzerland and Japan, the share of such products accounts for over 20%, Germany and France - about 15%.
The geographical structure of international trade has also changed quite noticeably, although the “West-West” sector, which accounts for about 70% of world trade, is still decisive for its development, and within this sector a dozen (USA, Germany, Japan, France, UK, Italy, Netherlands, Canada, Switzerland, Sweden).
At the same time, trade between developed countries and developing countries is growing more dynamically. This is due to a whole range of factors, not least of which is the disappearance of a whole cluster of countries in transition. According to the UNCTAD classification, all of them have moved into the category of developing countries (except for 8 CEE countries that joined the EU on May 1, 2004). UNCTAD estimates that MS was the driving force behind the development of MT in the 1990s. They remain so at the beginning of the 21st century. This is due to the fact that although the markets of the RS are less capacious than the markets of the RSEM, they are more dynamic and therefore more attractive for their developed partners, especially for TNCs. At the same time, the purely agrarian and raw material specialization of most RSs is supplemented by the transfer to them of functions for supplying industrial centers with material-intensive and labor-intensive products of manufacturing industries based on the use of cheaper labor. Often these are the most environmentally polluted industries. TNCs contribute to the growth of the share of finished products in the export of the RS, however, the commodity structure of trade in this sector remains predominantly raw (by 70-80%), which makes it very vulnerable to price fluctuations in the world market and worsening terms of trade.
There are a number of very acute problems in the trade of developing countries, primarily due to the fact that price remains the main factor in their competitiveness, and the terms of trade that change not in their favor inevitably lead to an increase in its imbalance and less intensive growth. Eliminating these problems involves optimizing the commodity structure of foreign trade based on the diversification of industrial production, eliminating the technological backwardness of countries that makes their exports of finished products uncompetitive, and increasing the activity of countries in trade in services.
Modern MT is characterized by a trend towards the development of trade in services, especially business services (engineering, consulting, leasing, factoring, franchising, etc.). If in 1970 the volume of world exports of all services (including all types of international and transit transport, foreign tourism, banking services, etc.) amounted to 80 billion dollars, then in 2005 it was about 2.2 trillion. dollars, i.e., almost 28 times more.
At the same time, the growth rate of exports of services is slowing down and significantly lags behind the growth rates of exports of goods. So, if for 1996-2005. the average annual export of goods and services almost doubled compared to the previous decade, then in 2001-2005. The increase in exports of goods on average per year was 3.38%, and services - 2.1%. As a result, the indicator of the share of services in the total volume of world trade is stagnating: in 1996 it was 20%, in 2000 - 19.6%, in 2005 - 20.1%. The leading positions in this trade in services are occupied by the RSEM, they account for about 80% of the total volume of international trade in services, which is due to their technological leadership.
The global market for goods and services is characterized by trends associated with the further internationalization of the world economy. In addition to the growing role of MT in the development of the world economy, the transformation of foreign trade into an integral part of the national reproduction process, there is a clear trend towards its further liberalization. This is confirmed not only by the reduction in the average level of customs duties, but also by the elimination (easing) of quantitative restrictions on imports, the expansion of trade in services, the change in the nature of the world market itself, which now receives not so much surpluses of national production of goods as pre-agreed supplies of goods produced specifically for a particular consumer. goods.
