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The chapter examines the current state and prospects of cooperation between the Eurasian Economic Union and the BRICS members. Firstly, the chapter describes comparative analysis between the economic strategies, which represents the two associations facing similar challenges; set themselves similar goals and objectives to achieve sustainable economic growth. Also, the authors provide an empirical analysis of trade and economic cooperation between the EAEU and the BRICS countries, which shows different levels and dynamics of relations with each member of the BRICS. Furthermore, it is proposed to use new ‘soft’ formats, which, in the authors' opinion, will provide synergistic use of the fundamental platforms for dialogue created in the EAEU and BRICS to intensify cooperation and deepen practical interaction. Finally, the chapter concludes that the potential interaction between the two associations of developing countries would create positive prospects and new opportunities, subsequently accelerating their economic growth. Such consolidation of capabilities of these institutions would transfer such cooperation into a practical direction by implementing the goals defined in the strategic planning of the EAEU and BRICS countries.

The article studies the problem of the impact of non-tariff barriers on mutual trade in goods between the EAEU member states. This problem is considered using the example of assessing the impact of non-tariff regulation measures of Russia, Kazakhstan and Kyrgyzstan on imports of goods from other EAEU member states. The conducted research is based on domestic and foreign scientific works that use barrier components to build a gravitational model of foreign trade. To study the impact of non-tariff regulatory measures of Russia, Kazakhstan and Kyrgyzstan on import commodity flow from other EAEU member states, two time periods are considered – the period of 2010–2014 and the period 2017–2019. In the context of the periods under consideration, a gravitational model of foreign trade is constructed. As a result of building a model within the framework of the study, it was revealed that during the period of the EAEU existence (2017–2019), non-tariff measures of foreign trade regulation had a more significant and negative impact on imports of the studied countries than before the formation of the EAEU (2010–2014). The latter indicates the relevance and necessity of further research of this problem.

The purpose of this paper is to comparatively analyze the corporate governance codes of transition economies, particularly five Eurasian Economic Union (EAEU) members (i.e. Russia, Belarus, Kazakhstan, Kyrgyzstan and Armenia). Specifically, the convergence or divergence of these countries’ corporate governance codes among themselves as well as relative to the best practices of the UK Corporate Governance Code (UK Code) and the OECD Principles of Corporate Governance are investigated.

Initially, the existing literature on corporate governance with special focus on transition countries is reviewed. Afterwards, benchmarking the international best practices, based on main chapters and contents, the corporate governance codes of all countries in the sample are analyzed.

The paper finds that even though some principles of the corporate governance codes of the countries in the sample differ in some aspects, they do converge to some extent. However, high misalignments between the UK Code and the OECD Principles and the codes of selected countries in some aspects were found.

The conclusion and implications of the study characterize the corporate governance of selected developing countries; thus, they might not be generalizable to other countries.

The codes of the countries in the sample should be revised, and more specifications regarding the stakeholder, board structure, its subcommittees, independence, diversity and transparency issues need to be addressed.

The paper comprehensively analyzes the contents of corporate governance codes of transition countries; from both practical and academic point of view, it was important gap that needed to be fulfilled.

The main purpose of this chapter is to show the correlation of the current consolidated electricity capacity of the Eurasian Economic Union (EAEU) with the forecast indicators of electricity consumption to optimize the future energy system. It highlights the main directions of the international cooperation development in the field of hydropower and analyzes the total consumption of hydropower in the EAEU. The study is based on official data provided by international hydropower and renewable energy regulators as well as national professional regulators and statistical offices. Authors predicted total hydropower consumption of the EAEU countries for the coming years using machine learning algorithms and interpreted obtained results by an econometric toolkit. It is shown that the current hydropower capacity level will not cover future consumption, in particular, due to the increasingly growing demand for cheap electricity because of massive digitalization as one of the global pandemic impacts. As a result, the necessity was identified to gradually increasing the available hydropower capacity to balance the situation. In conclusion, it's been proposed potentially possible solutions to optimize the future energy system of the single energy market of the EAEU to achieve the required level of electricity generation from power plants operating on renewable energy sources and, in particular, water resources, taking into account the consequences of Covid-19 in the energy industry.

The agro-industrial complex (AIC) of Belarus is one of the priority sectors of the national economy, which performs economic, social, environmental and cultural functions. The main trends in the development of the industry on modern business conditions are presented in the section. The goals, objectives, and mechanisms for the implementation of the state programs of development of the AIC are analyzed. The directions and measures of state support for agriculture are reasonable, the actual structure of the “green box” and “yellow box” measures is presented. Approaches and mechanisms to ensure national food security are highlighted in the light of new conditions, goals, and objectives. The results of the foreign trade in agricultural products of Belarus and rural development and social infrastructure of the village are presented. Scenarios for the development of agriculture in Belarus, taking into account national priorities in the field of agricultural production, the domestic consumer market, foreign trade, have been developed.

The study carried out in the chapter aims to determine trade drivers that can successfully intensify mutual trade in products of mineral origin between members of the Eurasian Economic Union (EAEU). The authors applied the methods of correlation and comparative analysis to identify the main ways to increase foreign trade flows between integration countries under the conditions of foreign trade barriers. After using the analysis of the correlation relationship between the mutual foreign trade turnover of the EAEU countries, covering the commodity group “mineral products”, and other main statistical indicators, the authors identified the main drivers of mutual trade in mineral products. Among such methods of enhancing mutual merchandise trade are GDP growth, strengthening of revealed comparative advantages, cargo tracking mechanisms, the quality of logistics services and the level of organisation of international shipments. Transport infrastructure, timeliness of delivery and the share of domestic R&D expenditures in GDP have a less positive impact on the mutual trade of integration countries, while geographical distance and customs checks, on the contrary, have a negative impact on trade flows. The obtained results of the analytical work can help to form guidelines on which the Eurasian integration community needs to rely to achieve unhindered mutual foreign trade activities.

After the collapse of the USSR, Eurasian integration projects, proposed by Russia, Kazakhstan and Turkey, began to develop in the post-Soviet space. Hence, there is growing interest in Eurasianism as an ideology. In this context, the study of the use of the Eurasianism's ideas in practice becomes relevant. The argument of this article is that Russia, Turkey, and Kazakstan have their own interpretations of Eurasianism's ideas to develop the ideological basis of their own integration projects. The purpose of the article is to answer the question: How is the Eurasianism used in integration projects of Russia, Turkey and Kazakstan?

The concept of Eurasianism has been viewed in terms of constructivism. On the basis of the principles of social constructivism, and in particular the works of constructivist ideologue Alexander Wendt, a comparative analysis was made. The ideas of Eurasianism in the integration processes of Russia, Kazakhstan and Turkey has been carried out based on the criteria such as the role of common ideas, identity, consciousness, memory and culture. The examples of mentioned countries were compared, to consider the development of the ideas of Eurasianism in practice.

The ideas of Eurasianism have a significant impact on the integration processes of the post-Soviet space. Eurasianism advocates for important factors such as respect for cultural and civilizational differences between different nations, their equality in the overall union and common development opportunities. Such factors are undoubtedly important for the success of integration projects. The reflection of many individual thoughts of classical Eurasians and Neo-Eurasians can be seen in the statements of various ministers and leaders of Russia, Kazakhstan and Turkey. The initiatives of these countries in creating integration projects also show the influence of the Eurasian concept.

In the 1990s, the study of Eurasianism gained new significance in academic circles. Articles and periodicals devoted to this concept were published. However, all parallels between variations in concepts of Eurasianism have been conducted on a theoretical level. The importance of this article lies in the fact that conceptual differences are compared in practice. Researchers had not previously considered the study of the relevance and productivity of Eurasianism in practice by comparing examples and experiences from different countries. The novelty of this article lies in its attempt to solve this problem.

Considering the dynamic correlation between advances in information and communication technology (ICT) and contemporary politics, this chapter provides an economist insight into the role of ICT in the global economy. It is argued that the analysis of the relationship between ICT and politics would be incomplete if the direct and indirect influence ICT exerts on international economy was not considered. This chapter examines the features of the international trade in ICT seen as a complex reflection of the current stage of liberalization achieved at the forum of the World Trade Organization (WTO) and subsequent spillovers to other domains of economic and political collaboration worldwide. It is argued that ICT and its development not only result in the “shrinking of the distance” in the world economy but also stimulate economic liberalization, further reshuffling production from more- to less-advanced economies and, finally, help to overcome trade imbalances on the global scale. In brief, a case is made that ICT creates the conditions conducive to the enhancement of international political and economic collaboration.

The purpose of this paper is to present the great importance and impact of the virtual intellectual capital (VIC) in the frameworks of digital economics, e-governance and business, e-trading and commerce, virtual organizations and enterprises, and information communication technologies development (based on the comparative case studies of the world, Russian and Armenian economics). These conditions increase the importance of the measurement and assessment of the VIC.

The research findings are obtained through the method of comparative analysis of the complex models of the VIC. The features are studied through measuring and assessing the VIC parameters of virtual representations on the internet. The data are complemented through virtual cluster analysis, a multidimensional statistical procedure that collects data containing information on facility selection. Three cluster groups are used in the study: the clusters of the TNCs and their virtual representations; the clusters of the network of the leading innovation centers and their virtual representations; and the clusters of the leading universities and their virtual representations.

The paper establishes the research findings of the growth forecasts of the IC clusters in the world, Russian and Armenian economic processes. This is extremely important to ensuring sustainable growth of the country’s competitiveness, economy and general welfare. The paper proposes a new model of the virtual national or transnational intellectual capital (VNTIC). The VNTIC model presents three general components: virtual representations of universities, innovation center networks and transnational corporations in global networks. The research findings show that the interactive innovative tools (IIT) can be used for early diagnosis of the world economic and financial processes.

The authors developed for the first time the IIT for measuring and assessing the three intellectual capital components. The paper presents a new approach and a more reliable tool for short-term forecasting at global and national levels based on QI ranking of the VIC clusters of the commercial enterprises, universities and networks of innovation centers.