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Specialization of Russia in international trade: development in the changing international environment

Author

Listed:
  • Andrey Pushkarev

    (Ural Federal University, Ekaterinburg)

  • Natalia Davidson

    (Ural Federal University, Ekaterinburg)

  • Oleg Mariev

    (Ural Federal University, Ekaterinburg)

  • Nikita Luft

    (Ural Federal University, Ekaterinburg)

Abstract

International economic relations are important for the countries? economic growth, especially in the modern world of global value chains and rapid technological development. Russia is known for its comparative advantage in natural resources and for its intentions to diversify the economy. Indeed, specialization in natural resources is not associated with sustainable economic growth. We analyze Russia?s specialization in trade over the period 2009-2018 including the year 2014 when economic and financial sanctions were introduced. We follow the dynamics of Russia?s comparative advantages in different categories of goods in trade with all world countries, BRICS countries and Eurasian Economic Union over these years. Our aim is to shed more light on the current specialization of Russia in order to understand the possibilities of diversifying the economy. We analyze short term consequences of difficulties in international relations that Russia faces, and provide an insight into the long run development of trade. We conclude that Russia currently has a prevailing comparative advantage in material-intensive industries and needs to develop innovations in order to diversify its economy and obtain a comparative advantage in the other categories of goods, including high-tech sector. The results can be useful for development of economic policy.

Suggested Citation

  • Andrey Pushkarev & Natalia Davidson & Oleg Mariev & Nikita Luft, 0000. "Specialization of Russia in international trade: development in the changing international environment," Proceedings of Economics and Finance Conferences 11413244, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iefpro:11413244
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    References listed on IDEAS

    as
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    2. Anna Fedyunina & Yuliya Averyanova, 2019. "Import and export of high-tech products in Russian manufacturing companies," Russian Journal of Economics, ARPHA Platform, vol. 5(2), pages 199-210, July.
    3. Andrea Zaghini, 2005. "Evolution of trade patterns in the new EU member states," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 13(4), pages 629-658, October.
    4. Ivan Lyubimov, 2019. "Russia’s diversification prospects," Russian Journal of Economics, ARPHA Platform, vol. 5(2), pages 177-198, July.
    5. Ivan Savin & Peter Winker, 2009. "Forecasting Russian Foreign Trade Comparative Advantages in the Context of a Potential WTO Accession," Central European Journal of Economic Modelling and Econometrics, Central European Journal of Economic Modelling and Econometrics, vol. 1(2), pages 111-138, November.
    6. Thomas Vollrath, 1991. "A theoretical evaluation of alternative trade intensity measures of revealed comparative advantage," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 127(2), pages 265-280, June.
    7. Natalia Davidson & Oleg Mariev & Andrey Pushkarev, 2018. "The Impact of Externalities on the Innovation Activity of Russian Firms," Foresight and STI Governance (Foresight-Russia till No. 3/2015), National Research University Higher School of Economics, vol. 12(3), pages 62-72.
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    More about this item

    Keywords

    Comparative advantage; Balassa index; Lafay index; specialization; international trade; export; Russian regions;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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