Russia’s Trade Policy Priorities in the Orbit of BRICS Economic Cooperation
The article presents analysis on structure of trade, its complementarity and terms of bilateral trade among BRICS through the lens of Russia’s key trade policy priorities. Assessments for trade complementarity has been made with emphasis on Russian mineral fuel export which proved to be negatively correlated with world demand and directly with determinants from BRICS. The negative dynamics of revealed comparative advantage for Russian oil regarding world export is coherent with parameters of competition among BRICS. Its revealed comparative advantage relatively export among BRICS shows growth which may be explained by its price advantages. The estimations and in-depth analysis in this work prove that BRICS is becoming significant factor for Russia’s trade policy. The resume is that so far transaction costs drive growth of trade among BRICs their common interest is to facilitate doing business and trade among them.
Volume (Year): 2 (2015)
Issue (Month): ()
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