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The Foreign Trade Factor of the Force Majeure Economy: A Spatial Manoeuvre

Author

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  • Pavel Aleksandrovich Minakir

    (Economic Research Institute FEB RAS)

Abstract

This paper considers the role of foreign trade interactions in forming a new macroeconomic equilibrium and equilibrium in the commodity market in the context of massive sanctions. The author analyzes the relations between the tools and conditions for maintaining foreign trade dynamics, and the role and proportion of traditional and new commodity markets in adapting to sanctions regimes. It is shown that in 2022 the spatial reformatting of foreign markets for Russian importers and exporters was more characteristic of import supplies. It is concluded that amid extraordinary financial and economic turmoil of 2022, which suddenly hit not only the Russian economy, but the entire global economy, the Russian economic system, for all its losses, held on to acceptable parameters, and foreign trade played an important role in this. It was determined that the instruments used in 2022 to reformat the spatial structure of markets could be substantially weakened over a long period

Suggested Citation

  • Pavel Aleksandrovich Minakir, 2023. "The Foreign Trade Factor of the Force Majeure Economy: A Spatial Manoeuvre," Spatial Economics=Prostranstvennaya Ekonomika, Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences (Khabarovsk, Russia), issue 1, pages 7-19.
    • Handle: RePEc:far:spaeco:y:2023:i:1:p:7-19
    DOI: https://dx.doi.org/10.14530/se.2023.1.007-019
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    More about this item

    Keywords

    import; export; gravitational potentials; equilibrium;
    All these keywords.

    JEL classification:

    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • F60 - International Economics - - Economic Impacts of Globalization - - - General

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