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The Bulletin of the Institute of Economics of the Russian Academy of Sciences № 4/2024.  World Economy and International Relations. 

Ren Yanyan

Assistant Researcher, China National Institute for SCO International Exchange and Judicial Cooperation, Shanghai University of Political Science and Law, Shanghai, China

 

Du Sisi

Master of International Law, Shanghai University of Political Science and Law, Shanghai, China

 

STUDY ON THE DISPUTE SETTLEMENT MECHANISM FOR INVESTMENT ARBITRATION IN MEMBER STATES OF SHANGHAI COOPERATION ORGANIZATION

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Abstract

As investment interaction deepens and expands within the framework of the Shanghai Cooperation Organization (hereinafter referred to as the SCO), the number of investment disputes between states is growing, the significance of which has especially increased in recent years. In this article, the authors raise the question of which dispute resolution method should be used between SCO member states with a view to better ensure the interests of all parties and to further strengthen protections of investments. The authors mainly use methods of analysis of scientific literature and judicial practice to study the current problems faced by the SCO member states in the field of investment arbitration. In addition, the authors propose for the future various options for resolving investment disputes within the SCO with the aim of constantly improving the mechanism for resolving disputes and disagreements.

Keywords: SCO, investment disputes, investment arbitration, dispute resolution, promising methods of settlement.

JEL: F13, F15, F53

EDN: ZPVEAL

DOI: https://doi.org/10.52180/2073-6487_ 2024_4_175_195

References

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  5. Li Kuangran, Li Zhengtu.The first study of the legal mechanism for protecting foreign investments in energy in China – a study based on the SCO framework // Jianghuai Forum. 2021. No. 5. Pp. 141–147, 193. (In Chin.). DOI: 16064/j.cnki.cn34-1003/g0.2021.05.020.
  6. Lin Yi. The independent establishment of a multilateral investment dispute settlement mechanism within the SCO// Commercial Arbitration & Mediation. 2020. № 4. 28–44. (In Сhin.).
  7. Zhang Zhengyi, Gao Ludan, Wang Dan et al. Study on state-investor dispute settlement along the “Belt and Road” initiative. Shanghai: Shanghai Academy of Social Sciences Press. 2019. Pp. 9–54. (In Сhin.).
  8. Gong Bohua, Zhu Jiacheng. Problems with the international investment arbitration regime and proposals for reform // Collected issues of Shanghai Law Studies. 2019. 1 7. Pp. 105–113. (In Сhin.).
  9. Qi Tong. The utilization of international investment arbitration mechanisms by Chinese overseas investors // Oriental Law. 2014.№3. Pp. 89–96. (In Сhin.). DOI: 10.19404/j.cnki.dffx.2014.03.009.
  10. Kabir Duggal, GerritNiehoff. The Conflicting Landscape Relating to Costs in Investor-State Arbitration//Indian journal of arbitration law (Jodhpur, India). 2017. Vol. 5. No. 2. 164–176. (In Eng.).
  11. Deng Hao. New changes and responses of the Shanghai Cooperation Organization in the context of the Ukraine Crisis // Russian, East European & Central Asian Studies. 2023. №3. Pp. 1–19, 157. (In Сhin.). DOI: 20018/j.cnki.reecas.2023.03.001.
  12. Wang Junjie. On Legal Construction of Investment Dispute Settlement Mechanism under One Belt and One Road // Henan Social Science.2019. T. 27. № 4. Pp. 63-68. (In Сhin.).
  13. Andrey S. Golobokov. Various forms and mechanisms of Chinese-Russian cooperation in the energy sphere and the role of non-governmental structures // Pacific Science Review B: Humanities and Social Sciences. 2015. No. 1. Pp. 45–48. (In ). DOI: 10.1016/j.psrb.2016.01.002.
  14. Zhao Xiaojun, СaoYunsong. Function Development and Paradigm Construction of Bilateral Investment Treaties in BRI Construction // International Economic Review. 2021.№ 4. Pp. 115–137. (In Сhin.).
  15. Zhang Guang. Study on the protection of the public interest in the international investment law. Beijing: Law Press. 2019. Pp. 32–57. (In Сhin.).
  16. Tao Lifeng. The reform and development of investor-state dispute settlement mechanisms and China’s choices // Contemporary Law Review. 2019. T. 33. № 6. 37–49. (In Сhin.).
  17. Shi Jingxia, Dong Nuan. The Construction of Investor-State Dispute Settlement Mechanism under “The Belt and Road” Initiative // Wuhan University International Law Review. 2018. T. 2. No. 2. Pp. 1–24. (In Сhin.) DOI: 13871/b.cnki.whuilr.2018.02.001.
  18. Wang Haiying, Yi Shuling. A Regionalized Reform of the IIA Investment Arbitration Mechanism under the “One Belt and One Road” Initiative // Seeking Truth. 2021. T. 48. No. 1. Pp. 14–124. (In Сhin.). DOI: 10.19667/j.cnki.cn23-1070/c.2021.01.012.

Manuscript submission date: 16.04.2024 

For citation:

Ren Yanyan, Du Sisi. Study on the dispute settlement mechanism for investment arbitration in member states of Shanghai Cooperation Organization // Vestnik Instituta Ekonomiki Rossiyskoy Akademii Nauk. 2024. № 4. Pp. 175-195. (In Russ.).  https://doi.org/10.52180/2073-6487_ 2024_4_175_195 EDN: ZPVEAL

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The Bulletin of the Institute of Economics of the Russian Academy of Sciences № 4/2024.  World Economy and International Relations. 

Valeriya S. Minchichova

Cand. Sci. (Econ.), Associate Professor, Leading Researcher, Institute of Humanitarian Sciences and Social Engineering, Faculty of Social Sciences and Mass Communications; Associate Professor of the Department of International Business, Faculty of International Economic Relations, Financial University under the Government of the Russian Federation, Moscow, Russia

ORCID: 0000-0001-5838-659X

 

Mikhail P. Petrichenko

Dr. Sci. (Econ.), Associate Professor, Chief Researcher, Institute of Humanitarian Sciences and Social Engineering, Faculty of Social Sciences and Mass Communications, Financial University under the Government of the Russian Federation, Moscow, Russia

 

INSTRUMENTS AND APPROACHES TO IMPROVING FINANCIAL LITERACY AND FINANCIAL INCLUSION IN THE BRICS COUNTRIES

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Abstract

The article presents the results of the analysis of the approaches to ensuring financial literacy and financial inclusion in the 2020s and the tools for its implementation in the five “old” BRICS countries. The focus of the efforts of such states as Brazil, China, and India on financial inclusion has been determined, while for the Republic of South Africa the basic financial skills of the population for the functioning of financial markets and the capital market are primary, and Russia, in turn, declares its goal is not only to instill the skills of correct and reasonable financial behavior, but to create the financial culture of all citizens. The key target groups of the population for financial education have been identified, among which are women entrepreneurs in India and the Republic of South Africa, entrepreneurs in Russia, and schoolchildren in China occupy an important place. The most important tools for improving financial literacy for each of the BRICS countries are highlighted, including the maintenance of unified state portals, educational programs at the state and corporate levels.

Keywords: financial literacy, financial inclusion, financially literate behavior, financial markets, BRICS, economic policy, international cooperation

JEL: Z13, E24, I22

EDN: XRTKXY

DOI: https://doi.org/10.52180/2073-6487_ 2024_4_159_174

References

  1. Medvedev I.V. The influence of deformation of supranational institutions on the integration of national economies // Bulletin of the Institute of Economics of the Russian Academy of Sciences. 2022. No. 2. Рp. 112–130. (In Russ.).
  2. Anita Dr. Financial Literacy in India: a Critical Review of Digitalization and Demonetization // International Journal of Economic Research. 2019.Vol. 16. № 2. Pр. 267–271.
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  8. Oke O.O., Benedict O.H. A Literature Review of the Level of Financial Literacy in South Africa. In: Moloi T., George B. (eds.) Towards Digitally Transforming Accounting and Business Processes. ICAB 2024. Springer Proceedings in Business and Economics. Springer, Cham. DOI: 10.1007/978-3-031-46177-4_25.
  9. Peng C., She PW., Lin MK. Financial Literacy and Portfolio Diversity in China. 2022, J Fam Econ. 2022. Iss. 43. Рp. 452–465. DOI: 10.1007/s10834-021-09810-3.
  10. Ribeiro C.T. Agenda-setting in public policies: the strategy for financial education in Brazil through the lens of the multiple streams model // Cad. EBAPE.BR.Rio de Janeiro. 2020. Vol. 18. No. 3. Рp. 486–497. DOI: 10.1590/1679-395120190038x.

Manuscript submission date: 12.07.2024

For citation:

Minchichova V.S., Petrichenko M.P. Instruments and approaches to improving financial literacy and financial inclusion in the BRICS countries // Vestnik Instituta Ekonomiki Rossiyskoy Akademii Nauk. 2024. № 4. Pp. 159-174. (In Russ.).  https://doi.org/10.52180/2073-6487_ 2024_4_159_174 EDN: XRTKXY

  Creative Commons 4.0

The Bulletin of the Institute of Economics of the Russian Academy of Sciences № 3/2024.  World Economy and International Relations. 

Artem G. Pylin

Cand. Sci. (Econ.), Associate Professor, Leading Researcher at the Institute of Economics of the Russian Academy of Sciences, Moscow, Russia

ORCID: 0000-0002-1979-3624

 

TRENDS IN TRADE AND ECONOMIC COOPERATION BETWEEN RUSSIA AND CENTRAL ASIAN COUNTRIES

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Abstract

The paper analyzes the main trends in economic cooperation between Russia and the Central Asian states for the period 2021–2023 years in the context of Russian interests. The factors of economic interaction are analyzed taking into account the growing potential of the countries of the region. It is established that amid geopolitical tensions and large-scale anti-Russian sanctions of the West, the geo-economic importance of the Central Asian countries for the Russian Federation has increased significantly. The dynamics and structure of trade, investment and migration relations between Russia and the countries of the region are studied. The role of intermediated trade and relocation in enhancing economic cooperation is particularly noted. Joint projects in the transport and energy sectors are being considered. Industrial partnership stands out among the promising areas of cooperation, including through the joint formation of industrial zones.

Keywords: Russia, Central Asia, economy, sanctions, trade, investment, migration, transport, energy, industrial cooperation.

JEL: F15, O57, P27

EDN: LVLEXA

DOI: https://doi.org/10.52180/2073-6487_ 2024_3_76_87

References

  1. Akhapkin N.Yu. Russian economy under sanctions: dynamics and structural changes // Bulletin of the Institute of Economics of the Russian Academy of Sciences. 2023. No. 6. 7–25. (In Russ.).
  2. Vardomskiy L., Golovin V., Golovina E. Central Asia in the Changing System of International Relations // Mir Peremen. 2024. No. 1. Pp. 68–85. (In Russ.).
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Manuscript submission date: 04.06.2024  

 

For citation:

Pylin A.G. Trends in trade and economic cooperation between Russia and Central Asian countries // Vestnik Instituta Ekonomiki Rossiyskoy Akademii Nauk. 2024. № 3. Pp. 76-87. (In Russ.). https://doi.org/10.52180/2073-6487_2024_3_76_87  EDN: LVLEXA

  Creative Commons 4.0

The Bulletin of the Institute of Economics of the Russian Academy of Sciences № 3/2024.  World Economy and International Relations. 

Vlas A. Ryazanov

Cand. Sci. (Geogr.), Senior Researcher at the Institute of Economics of the Russian Academy of Sciences, Moscow, Russia

 

THE PRICE MARKET SITUATION AND THE REDIRECTION OF RUSSIAN ALUMINIUM EXPORT TO ASIAN MARKETS IN 2022–2023

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Abstract

The author studies the impact of market prices on the geographic sales changes of aluminium, which is historically one of the key Russian exports. The increase in supplies to the markets of China, South Korea and Turkey after February 2022 was accompanied by price decline. The regression analysis has shown that without the factor of sanctions risks in this market situation, imports from Russia would have decreased, as it steadily happened with supplies from other countries. The article also examines other market factors of the deterioration of the financial situation of the Russian aluminium industry – the rise in the costs of imported alumina due to a change of suppliers, as well as Russia’s weak energy advantages over other countries due to low prices for oil and gas. The measures of the state industrial policy to restore the global competitiveness of the industry were proposed.

Keywords: Russia, China, Japan, South Korea, Turkey, export, aluminum, prices, regression analysis.

JEL: С22, F14, L61

EDN: NFCWVP

DOI: https://doi.org/10.52180/2073-6487_ 2024_3_88_103

References

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Manuscript submission date: 13.04.2024

 

For citation:

Ryazanov V.A. The price market situation and the redirection of Russian aluminium export to Asian markets in 2022–2023 // Vestnik Instituta Ekonomiki Rossiyskoy Akademii Nauk. 2024. № 3. Pp. 88-103. (In Russ.). https://doi.org/10.52180/2073-6487_ 2024_3_88_103  EDN: NFCWVP 

  Creative Commons 4.0

The Bulletin of the Institute of Economics of the Russian Academy of Sciences № 3/2024.  World Economy and International Relations. 

Irina A. Kvashnina

Cand. Sci. (Econ.), Leading Researcher at the Institute of Economics of the Russian Academy of Sciences, Moscow, Russia

ORCID: 0009-0002-1700-5580

 

NEW TENDENCIES IN GLOBAL FDI FLOWS

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Abstract

The article examines measures, that took place in the regulation of foreign direct investment and their impact on the configuration of investment flows. It is noted that for some countries and economic unions in current geopolitical situation, FDI policy is becoming a part of the national strategy for economic security and technological sovereignty. The dynamics of the introduction of FDI restrictive and regulatory measures indicates an increase in protectionism, which leads, in particular, to a reconfiguration of global capital flows. The changes in the FDI inflows /outflows volumes and in their distribution by different regions and countries allow us to conclude that, on the one hand, the localization of a part of FDI within geopolitically close states is taking place, while on the other hand, in order to reduce political and economic risks the diversification of investment partners is going on.

Keywords: FDI, protectionism, regulatory measures, fragmentation.

JEL: F21, F34

EDN: FVZLEY

DOI: https://doi.org/10.52180/2073-6487_2024_3_61_75

 

References

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Manuscript submission date: 07.05.2024

 

For citation:

Kvashnina I.A.  New tendencies in global FDI flows// Vestnik Instituta Ekonomiki Rossiyskoy Akademii Nauk. 2024. № 3. Pp. 61-75. (In Russ.). https://doi.org/10.52180/2073-6487_ 2024_3_61_75  EDN: FVZLEY

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  1. Shevtsov A.L. POSSIBLE CONFISCATION OF RUSSIAN STATE ASSETS IN THE WEST: LEGAL AND POLITICAL ZUGZWANG
  2. Medvedev I.V. EURASIAN INTEGRATION PROJECT IN THE DIGITAL TRANSFORMATION FRAMEWORK OF THE RUSSIAN ECONOMY
  3. Sidorov A.A. FOREIGN MARKET ACCESS IN THE SYSTEM OF MARKET RESEARCH
  4. Maltsev A.A. GLOBAL META-RISKS IN THE POST-COVID ERA

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