Quantitative indicators of the openness of the country's economy. Open economy criteria, factors and consequences of openness

The degree of influence of international monetary relations on a state’s monetary policy depends on the degree of openness of the national economy.

The concept of “openness of the economy” characterizes the country’s participation in the international division of labor and implies the free movement of goods, capital, factors of production, and the interchange of national currencies.

Representatives of the neo-Keynesian school were actively involved in analyzing the relationships in the “open” and “closed” economies. Among them are such famous scientists as R. Machlup, J. Tinbergen, F. Fleming, R. Harrod, D. Hicks.

The prerequisites for the analysis were the postulates of J. Keynes (1883-1946):

About effective demand as the main stimulator of production;

About faster growth of income compared to consumption;

On the need for regulation by government agencies.

Closed economy- is an independent economic system with limited foreign economic relations, capable of providing itself with everything necessary on its own, striving for autarky (isolationism).

The functioning of a closed economy is expressed by the following formula (according to Keynes):

where Y is national income;

C - consumption (the totality of goods and services purchased by households);

I is the volume of investment, i.e. goods purchased for future use;

G - government procurement.

In a closed economy, the task of complete self-sufficiency and economic independence of the country from the outside world comes to the fore. The characteristic features of a closed economy are the rejection of a significant part of imports, control over foreign exchange transactions, stimulation of import-substituting industries, and full use of all the country's productive forces.

The simplest model of a closed economy can be represented as a so-called basic circular flow, in which:

The flow of goods and services between the population and entrepreneurs is mediated by the flow of payments;

The connection between the population and entrepreneurs is ensured through their interaction in two types of markets;

In the market of goods and services, where the population creates demand, and entrepreneurs create supply;

In the market of production factors (capital, land, labor), where the population is the seller of labor, and entrepreneurs are its buyers;

All income received by the population is fully spent on the purchase of goods and services, and all goods produced by entrepreneurs are sold.

The use of a closed economy model is largely determined by the economic and political interests of the country. For example, during crisis situations in the economy and politics, the closure of the economy contributes to the preservation of the national economy. A closed economy allows the state to expand its resource capabilities through the exchange or conquest of new territories, prepare for and conduct military operations.

Open economy is an economic system focused on maximum participation in world economic relations and in the international division of labor.

The essence of an open economy can be represented as the following formula:

where NX is the balance of exports and imports (net exports), calculated as the difference between the value volumes of exports and imports.

The balance of exports and imports reflects the trade balance with the outside world:

At equilibrium in foreign trade, exports are equal to imports, therefore, NX = 0;

If exports exceed imports NX >0, the country is a net exporter;

When imports exceed exports NX< 0, страна является нетто-импортером.

Indicators of the openness of the national economy are:

Foreign trade quota;

Import quota;

Export quota;

The share of foreign investments in relation to domestic investments (Fig. 6).

Rice. 6. Main indicators of openness of the national economy

As we can see, the key indicator of the openness of the national economy is the quota in several of its varieties. Quotas are a form of non-tariff regulation of commodity flows.

In international trade under foreign trade quota refers to the value or quantity of goods that can be exported (export quota) and imported (import quota) into a given country.

Export quota is a quantitative indicator that characterizes the importance of exports of goods and services for the national economy (i.e., the share of exports in the country’s gross national product - GNP), individual industries or enterprises.

Export quotas is a way of limiting the supply of goods for export and preventing a decline in export prices and export revenues.

Import quotas, as a rule, aims to protect domestic producers, but can also be used as a form of economic pressure on the importing country.

World experience shows that small industrialized countries usually have a high degree of openness (Belgium, Holland, Austria - the foreign trade quota in GNP is 55-70%). In states with medium territory and population (France, Italy, Great Britain) this figure reaches 40-45%, and in large world powers, regardless of the level of their industrial development, it does not exceed 15-20% (USA, Russia, China, India ).

In the latter case, this may be due to the influence of the following reasons:

Large capacity of the domestic market;

Relative availability of raw materials;

Long-term orientation towards a closed economic development model.

An indicator for analyzing an open economy is the foreign trade multiplier, according to which the coefficient of increase in national income is directly proportional to the marginal propensity to export and inversely proportional to the marginal propensity to import. From this relationship it follows that a high propensity to import further slows down the growth of national income.

If we return to formula (2) of an open economy (Y= C +I + G + + NX) and abstract from the influence of the sum of factors C +I+ G on the change in national income, then the formula will take the following form:

where AY is the increase in national income.

Two main conclusions can be drawn from the newly transformed formula:

National income (Y) increases if exports are greater than imports;

National income (AY) growth stops if exports equal imports.

The openness of the national economy is associated with the concepts of reciprocity and vulnerability (vulnerability).

Reciprocity(Fig. 7) involves two- and multilateral movement of goods and services, overcoming naturally occurring imbalances and asymmetries.

Rice. 7. Reciprocity and the vulnerability of an open economy

Similar difficulties exist in trade between East and West Europe. If in the trade turnover of the CIS countries the share of industrialized countries is usually about 45%, then their Western European counterparties do not go beyond 3-4%. And the commodity structure of trade itself is far from the optimal level.

Under "vulnerability" understand the possible costs for the country from participating in the international division of labor, the likelihood of poor adaptation of the national economy to the requirements of scientific and technological progress (STP) and the world market.

An increase in prices for oil and petroleum products, which is beneficial for their exporters, turns into a blow to an import-dependent or energy-intensive economy. Large sales of gold on the world market are causing a sharp drop in prices for the yellow metal. An example of the “vulnerability” of Western European countries is the achievement by some of them in the 1980s. high degree of dependence on Soviet supplies of natural gas.

The openness of the national economy is reflected in the balance of payments.

Monetary policy

The main goal of the state's macroeconomic policy is to achieve internal and external balance.

Inner balance assumes a state of “full employment or equality of aggregate demand and aggregate supply at the level of potential output at the minimum acceptable level of inflation.

External balance means maintaining a balanced balance of payments.

To achieve the set goals in an open economy, both traditional types of macroeconomic policies (fiscal and monetary), as well as foreign trade, foreign exchange policies, and foreign debt management policies are used.

It should be borne in mind that fiscal and monetary policy measures that have proven effective in a closed economy may turn out to be ineffective when used in an open economy.

In an open economy, the relationships between the main macroeconomic variables that characterize the internal state of the economy become significantly more complicated, since they are also influenced by processes occurring in the outside world. At the same time, economic variables, which are indicators of the state of the external sector, are influenced by internal variables. Thus, the implementation of macroeconomic policy requires taking into account an increasing number of factors.

The advantages of an open economy include:

Deepening specialization and cooperation of production;

Rational distribution of resources depending on the degree of efficiency of their use in the context of globalization;

Dissemination of world experience through the system of international economic relations;

Increased competition between national producers, stimulated by competition in the world market.

The main trend in the development of the world economy in the 90s. XX century there was a movement towards the creation of a single planetary market for capital, goods and services, towards economic rapprochement and the unification of individual countries into a single world economic complex.

Monetary policy- this is an integral part of the state’s economic policy in general and foreign economic policy in particular; is a set of economic, legal, organizational measures carried out by the state in the field of international monetary relations.

The state's monetary policy is the basis for regulating equilibrium in the system of currency relations. Its direction and forms are determined by the monetary and economic situation of countries, the evolution of the world economy, and the balance of power on the world stage.

When developing monetary policy, the following is important:

Does the country have a state currency monopoly?

Is the currency regulation system functioning?

State currency monopoly- this is the exclusive right of the state to carry out currency transactions and authorize the conduct of such transactions by certain legal entities and individuals.

The formation of the state's foreign exchange policy and the set of economic levers for restoring the disturbed balance largely depend on the established exchange rate regime - floating or fixed.

The main goals of monetary policy are to ensure sustainable economic growth, curb the growth of unemployment and inflation, and maintain the country's balance of payments.

At different historical stages, specific objectives of monetary policy come to the fore: overcoming the currency crisis and ensuring currency stabilization, currency restrictions, transition to currency convertibility, liberalization of foreign exchange transactions, etc.

Monetary policy reflects the principles of relationships between countries, namely partnership and disagreements that give rise to discrimination against weaker partners, primarily developing countries, and interference in the internal affairs of other states. In the conditions of integration processes taking place in the world economy, a single country cannot have an absolutely autonomous monetary policy.

Monetary policy determines the preparation, adoption and implementation of decisions on currency problems. Based on monetary policy, the state determines its attitude to foreign exchange regulation.

Ø export quota = (EX / Y) 100% – in the Republic of Belarus – 56%

Ø import quota = (IM / Y) 100% – in the Republic of Belarus – 65%

Ø foreign trade quota = ((EX+IM) / Y) 100% – in the Republic of Belarus – 128%

Ø export volume per capita = EX / N – in the Republic of Belarus – 747 US dollars

Ø country’s share in world exports = (EXstr / EXworld) 100% – RB – 0.13%

Ø coefficient of export elasticity to GDP (∆EX / ∆Y) – in the Republic of Belarus -2.00

Ø coefficient of elasticity of imports to GDP (∆IM / ∆Y) – in the Republic of Belarus -1.79

Ø inflow and outflow of investment in relation to GDP and per capita

Ø quota of international emigration and immigration (as a percentage of the country's population, of internal migration)

Ø export, import of services as a percentage of GDP and per capita

Ø export, import of patents, licenses, etc. as a percentage of the world

Advantages of an open economy:

· Open economy, i.e. a national economy with a high degree of involvement in international economic relations contributes to:

· deepening international specialization and cooperation in production;

· rational distribution of resources depending on the degree of its effectiveness;

· dissemination of world experience through the IEO system;

· increased competition between domestic producers, stimulated by competition in the world market.

The openness of the economy, along with obvious advantages, also has certain negatives or dangers. These include the following:

· decline in domestic production and bankruptcy of domestic producers;

· increased financial dependence on developed countries or global financial institutions;

· increased technical and technological dependence on other countries;

· deformation of the structure of the domestic economy with the loss of elements relevant to it, etc.

However, openness and openness are different. This means that the degree of openness of the economies of different countries may be different. In this regard, two types of economies are now distinguished: large open and small open.

Large open economy- one whose scale ensures the formation of the interest rate under the influence of its internal factors and influences the world interest rate.

Small open economy- an economy that, although it has access to the world market, is not able to influence the world interest rate, as well as the state of the world market in general.

A closed economy is an economy that:

− development is determined by internal trends and does not depend on global trends

− minimal connections with other countries

− high barriers in relation to other countries, self-sufficiency, self-reliance

Consequences: increasing economic backwardness

− inability to adapt to structural changes in ME

− stagnation and technical backwardness

− preservation of traditional society

9. International division of labor (ILD)

MRI forms: International specialization of the industry and International cooperation of the industry

Types of MRI

· general MRI- division of labor between large spheres of material and non-material production (industry, transport, communications, etc.). The general MRI is associated with the division of countries into industrial, raw material, and agricultural ones;

· private MRI- division of labor within large spheres by industries and sub-sectors (heavy and light industry, cattle breeding and agriculture, etc.). It is associated with subject specialization;

· single MRI- division of labor within one enterprise. At the same time, the enterprise is interpreted broadly - as a cycle of creating a finished product.

· information technology exchange- technology exchange through modern information networks.

Signs of MRI

1. Minimizing production costs

2. Availability of demand for products

3. Profit maximization

International division of the “land” factor implies that countries are endowed to varying degrees with natural resources, climate resources, minerals, etc.

International division of capital is expressed not only in the different endowments of countries with accumulated reserves of material resources necessary for the production of goods, but also in differences in historical traditions and production experience, levels of development of commodity production and market mechanisms, as well as simply monetary and other financial resources. Having sufficient savings is an essential prerequisite for investment and expansion of production.

International technology division is the result of differences in the level of development of scientific and technical progress achieved in individual countries, and is also a consequence of differences in the provision of labor and capital, knowledge resources, i.e. the sum of scientific and technical information concentrated in scientific institutions, literature, data banks, etc.

Factors that determine countries' participation in MRI, the degree of provision with which determines the specifics of a country’s participation in MRT: they determine the value of national production costs, the cost of the main factors of production: labor, capital, land, etc.

1 . National MRI factors	2. International MRI factors
a) Natural and geographical differences between countries	- Natural and climatic conditions - Natural resources - Size of territory - Population - Economic and geographical position of the country, etc.	Development of regional economic integration Economic expansion of TNCs Demand on the world market Level of development of scientific and technical progress in the world Global problems (raising the question of the cost of natural resources in a new way) Level of development of international payments
b) Socio-economic characteristics of countries	- Level of economic development - Level of development of scientific and technological progress - Level of technical and economic development - Economic openness, legislation in the field of foreign trade - Historical features of production and foreign trade

The role of MRI in the development of the global economy

Ensures countries receive the difference between the international and national costs of exported goods and services and save domestic costs by abandoning national production through cheaper imports

Helps increase productivity, production efficiency, reduce costs and satisfy needs

It is the basis for the unification of national economies into the world economy and the development of international economic cooperation

Plays an increasing role in the implementation of expanded reproduction processes

Allows you to complicate international economic relations

10. International division of labor (ILD)- this is the highest stage of development of the social territorial division of labor between countries, providing for the sustainable specialization of countries in the production of certain products and leading to the mutual exchange of production results between them in certain quantitative and qualitative ratios.

Signs of MRI

Minimizing production costs
Availability of demand for products
Profit maximization

SME forms:

1. Territorial aspect: The social division of labor does not exist outside a certain territory and country, i.e. is and territorial division of labor, his types:

- interregional- division of labor between regions of the same country;

- international- division of labor between individual countries.

It originated in the manufacturing period of the development of capital (mid-7th - last third of the 8th century). During the era of the industrial revolution (late 8th century), the volume of production increased significantly. As a result, the interdependence of national economies based on the exchange of goods has increased.

Production aspect:

Types of international division of labor (by function):

- general– division of labor between large spheres of material and non-material production, such as industry, agriculture, transport, etc.

- private- division of labor within large spheres by industries and sub-sectors, such as heavy and light industry, cattle breeding and agriculture, as well as within them, for example, oil production, metallurgy, automotive industry within the framework of heavy industry or, for example, ceramics, porcelain, crystal within the glass industry industry.

- single- division of labor within one enterprise, while the enterprise is interpreted broadly as a cycle of creating a finished product.

Territorial aspect (countries, groups of countries, region) 2. Production aspect (subject, detail, technological; inter-industry, intra-industry)

International division of factors of production – the historical concentration of individual factors of production in different countries, which is a prerequisite for their production of certain goods that are economically more efficient than in other countries.

Organization of the MCP form: joint programs, contractual specialization, joint ventures, compensation cooperation.

Signs of MCP: stable, regular, long-term exchange; direct connections, joint activities under an agreement, united economic resources, coordination of economic activities

Types of MCP: 1. By stages (pre-production, production, post-production) 2. By the number of subjects (two-sided, multi-sided) 3. By the number of objects (single-subject, multi-subject)

11. Features of MRI:

Change in factors of production (from basic to developed - to human capital); deepening MRI

Accelerating the pace of international exchange; reducing obstacles to its development

Change in types, forms of MRI (details, technologist, operational SMEs; intra-industry SMEs)

Changes in the geographic structure of MRI: closure in the triangle USA-Japan-EU; change in the specialization of developed, developing countries and countries with a transition economy; emergence of new MRI sites (NIS, Canada, Australia); strengthening economic interaction in the Asian subsystem “Japan, NIS, ASEAN, China)

MTRT is a specialization of countries in the production of intellectual property objects leading to international scientific and technical cooperation (intelligent property objects: material information carriers; high-tech products; technologies; know-how; patents, licenses, goods signs) sustainable specialization of countries in the production of intellectual property (including technologies), leading to international scientific and technical cooperation

MRPP - division of production into industries, parts, stages and their transfer abroad (features: SME technologist, offshoring and subcontracting relations)

An open economy is an economy where all subjects of economic relations can, without restrictions, carry out transactions on the international market for goods, services, capital and other factors of production. Unlike a closed economy, there is freedom of foreign trade transactions, a free exchange rate is established, and regulation occurs through foreign exchange reserves and standards.

World experience shows that countries with closed economies ultimately become poorer than those that participate in world economic relations, since the former are isolated from new ideas and technologies, from foreign investment, information, etc.

Open economy excludes a state monopoly in the field of foreign trade and requires the active use of various forms of joint entrepreneurship, the organization of free enterprise zones, and also implies reasonable accessibility of the domestic market for the influx of foreign capital, goods, technology, information and labor.

The degree of openness of the economy largely depends on the provision of natural resources, on the population size, on the capacity of the domestic market and on the effective demand of the population. In addition, the degree of openness of the economy will be determined by the reproductive and sectoral structure of the national economy. As practice shows, the greater the share of basic industries (metallurgy, energy) in the industrial structure, the less the country’s relative involvement in the international division of labor, the less open its economy is. We can say that the degree of openness of a country’s economy is higher, the more developed its economic relations are, the more industries with an in-depth technological division of labor in its sectoral structure, and the less endowed it is with its own natural resources.

According to the degree of openness of the economy, countries can be divided into the following groups: countries with a relatively closed economy (the share of exports is less than 10% of GDP); countries with relatively open economies (export share more than 35% of GDP); countries located between the first two. Based on this criterion, the countries with the most open economies are Hong Kong, Singapore, New Zealand, Switzerland, and the least open ones are North Korea and Cuba.

It is worth noting that the country’s level of involvement in world trade tends to decrease. According to the index of the country's involvement in world trade, calculated by the World Economic Forum, the country occupies 23rd position (in 2009, this index was 4.78). Moreover, the country's share in world exports is also gradually declining (from 2002 to 2010, this figure decreased by more than 2 percent).

In order to determine the degree of openness of the economy, it is necessary to consider the main features of an open economy; they can be divided into three groups.

The first group is signs of an open economy at the macro level:

The most complete use of various forms of world economic relations.

Sustainable foreign economic specialization of a country, in which exchange with the world economy occurs not due to shortages or surpluses of products within the country, but on the basis of comparative production costs and quality of goods.

The stability of the country's monetary and financial position, when servicing external debt does not close off opportunities for economic growth and does not create difficulties in attracting new loans.

International convertibility of national currency.

The development of the national economy is determined by the trends operating in the world economy.

The second group is signs of an open economy at the micro level:

Free access of enterprises of all forms of ownership to foreign markets for goods, capital and services.

Freedom of choice by all economic entities of domestic and foreign partners and markets when carrying out business transactions.

Transformation of foreign economic activity into an organic component in the economic activities of many enterprises.

And the third group is signs of an open economy in the activities of the state:

Opening the domestic market to foreign competition combined with flexible protection for domestic producers.

Providing legal and economic guarantees for economic functioning and protection of foreign capital.

Creation and maintenance of a favorable investment climate (which can be understood as a set of factors ensuring reasonable accessibility of the domestic market for the influx of foreign goods, capital, technology, information, etc.)

Elimination of the foreign trade monopoly on most commodity items.

Support for domestic exporters in foreign markets.

Orientation of technical, industrial and social policies to world standards and trends in their development.

The rapprochement of domestic economic law with international law.

The priority of the country’s international treaty obligations over the norms of domestic law.

Application of an arsenal of means and methods generally accepted in world practice for regulating foreign economic relations, combined depending on the specific situation in the national economy.

Ensuring state participation in the most important international economic organizations.

It is necessary to distinguish between the concepts of “openness of the economy” and “free trade” and free trade. Free trade is nothing more than a policy of minimal government intervention in foreign trade. Openness of the economy is a broader concept than free trade because:

It implies the country’s active participation not only in international trade, but also in other foreign economic or global economic relations. The concept of free trade concerns only the sphere of foreign trade.

Openness of the economy does not exclude protectionism, which is the antithesis of free trade policies

Protectionism is a government policy of protecting the domestic market from foreign competition through the use of tariff and non-tariff trade policy instruments. The goal of a policy of protectionism is significantly different from the goal of a policy of autarky, since protectionism does not deny the usefulness of international trade and does not set the task for the country to provide itself with everything.

There are 4 main forms of protectionism:

Selective is directed against specific individual countries, products or companies.

The branch protects certain sectors of the national economy, primarily agriculture.

Collective is carried out in relation to a country or a number of countries together with one or more other countries.

Hidden (indirect) is carried out by methods of internal economic policy.

Main indicators of the openness of the country's economy

The indicators used to measure the degree of openness of the economy are most often used:

export quota

import quota

foreign trade quota

Sometimes elasticity coefficients of exports (to assess the dynamics of economic openness) or imports in relation to GDP are also used.

An export quota is a quantitative indicator characterizing the importance of exports for the economy as a whole and individual industries for certain types of products. Within the entire national economy, it is calculated as the ratio of the value of exports (E) to the value of the gross domestic product (GDP) for the corresponding period as a percentage:

Ke = E/GDP*100%.

An import quota is a quantitative indicator characterizing the importance of imports for the national economy and individual industries for various types of products. Within the entire national economy, the import quota is calculated as the ratio of the value of imports (I) to the value of GDP:

Ki = I/GDP*100%.

The foreign trade quota is defined as the ratio of the total value of exports and imports, divided in half, to the value of GDP as a percentage:

Kv = E+I/2VVP*100%.

Another variant

Kv = (E+I) / GDP*100%*0.5

Shows the importance of foreign trade relations for the country, and not just exports and imports. All indicators do not show the country's share in world exports.

The elasticity coefficients of exports and imports in relation to GDP show how much exports or imports increase when the country's GDP increases by 1% and are calculated as the ratio of the percentage change in the value of exports (or imports) for the period under review to the percentage change in the country's GDP for the same period.

Ee = delta E(%) / delta GDP(%)

Ei = delta I(%) / delta GDP(%)

The value of these coefficients if they are greater than > 1 is interpreted as strengthening the open nature of the economy, if less< 1 то наоборот.

It should be noted that not one of these indicators can be recognized as a universal indicator of the openness of the national economy, since they do not take into account the participation of a given country in the international movement of factors of production, do not take into account its influence on changes in the movement of the world interest rate, the level of world prices, etc. Therefore, all these indicators can serve as a measure of economic openness only as a first approximation. macroeconomics Russian state capital

There is no universal indicator of economic openness; we can only talk about a set of indicators.

The World Bank still classifies the openness of an economy by the criterion of a country's export quota. He divides countries into three groups:

Relatively closed, with a quota< 10%

Countries with moderately open economies, quota from 10 to 25%

Countries with open economies, quota > 25%

But here you can also make a mistake: if GDP declines more than exports, then we get the wrong picture.

Sometimes in the theory of international economics the concepts of a small open economy and a large open economy are used.

These concepts have nothing to do with the export and import quotas of these countries. Indicators of economic openness are not a criterion for classifying a country as a large or small open economy.

Both large and small are considered in a narrow and broad sense. At the same time, the emphasis is placed not so much on the degree of inclusion of the national economy in international economic relations, but on the process of formation of the world interest rate and the influence of the corresponding country on this process.

In a narrow sense, a large open economy is an economy in which the interest rate is formed under the significant influence of internal economic processes. Countries where a large open economy has formed: the USA, Japan, Germany have a significant impact on the state of the international market and on the level of the world interest rate.

A small open economy in the narrow sense is an economy in which the interest rate is set by the conditions of the global financial market. States with small open economies do not have a significant impact on the movement of the world interest rate and on the state of the international market.

With a broader approach, the content of a large open economy is not limited only to the criterion of the % rate; therefore, in a broad sense, a large open economy, due to its degree of influence on the world markets for goods, capital and services, as well as the existing national economic potential, has a real impact on the formation of all the main economic parameters of the world economy: the level of inflation, world prices, the impact on the dynamics of supply and demand for a group of the most important goods, on the state of world financial markets, including the movement of interest rates, as well as on policies in the field of determining international norms and rules governing foreign economic relations.

A small open economy is the opposite of a large economy.

Main features and indicators of an open economy using the example of the Russian Federation

Introduction…………………………………………………………………………………...1

1 Open economy as an object of theoretical research......................3

1.1 Concept, models and risk factors of an open economy…………………..3

1.2 National interests and state regulation of an open economy………………………………………………………………………………………...18

2 The Russian economy in the context of problems of openness and national-state interests………………………………………………………...………...22

2.1 Openness of the Russian economy: trends, advantages, problems and international comparisons……………………………………………………………22

2.2 Financial incentives and restrictions on the growth of the Russian open economy………………………………………………………………………………………...26

2.3 National economic interests as a priority in the Russian economic modernization program………………………………………………………30

Conclusion………………………………………………………………………………….36

List of sources used………………………………………………………...38

Introduction

An open economy is an economy integrated into the system of world economic relations, in which any economic entity has the right to carry out foreign economic transactions: export/import of goods and services, as well as financial transactions.

"Openness" can be understood in two ways. Firstly, it can mean absolute two-way permeability of the economy to international flows of capital, technology, raw materials and labor resources, and final demand goods. In this meaning, an “open economy” implies a rejection of protectionism - that is, the removal of all barriers to the import and export of goods and services, all restrictions on the activities of foreign firms and banks in the country, including issues of acquiring property; abolition of any privileges, benefits and preferential rights of residents over non-residents in access to resources, in receiving government orders, concessions; ensuring freedom of movement of labor.

In this first sense, there is no open economy in developed countries - we can only talk about a greater or lesser degree of approximation to this model. In its pure form it is found in colonies and economically dependent states.

In the second meaning, the term “open economy” refers to open economic complexes, that is, the meaning is the opposite of closed economic systems. For example, the economy of an administrative region within a sovereign country is fundamentally open - it is not self-sufficient, does not provide for self-sufficiency in material resources, a complete production program, or sales of products only in the territory of a given region.

However, a mandatory consequence of the implementation of this model is dependence on external conditions, and in the event of international conflicts, wars, the imposition of sanctions, the establishment of a blockade - the country’s vulnerability due to the threat of stopping export-oriented production and stopping import supplies, especially vital products (raw materials, energy resources and , first of all, food).

The purpose of this course work is to consider the main features and indicators of an open economy using the example of the Russian Federation.

Therefore, the following questions will be considered in this course work:

The essence of an open economy

Main features of an open economy

Key indicators of an open economy

National economic interests and security

Openness of the Russian economy

1 Open economy as an object of theoretical research

1.1 Concept, models and risk factors of an open economy

A fully open economy also means an economy whose development is determined by trends in the world economy. The country's external relations are strengthening, and with the transition to a higher level of development, both absolute and relative expansion occur.

The mere fact that one country has economic ties with other countries does not mean that it has an open economy. Even when isolationist (autarkic) tendencies predominate or dominate a country’s economic policy, external relations inevitably play one or another role in such an economy, although of course in a closed (autarkic) economy foreign economic relations are minimal.

An open economy is a national economy in which all subjects of economic relations are free in their choice on the domestic and international markets of goods, services, and capital, and its development is determined to a large extent by the trends operating in the world economy. At the same time, foreign trade turnover (export + import) reaches a level where it begins to stimulate overall economic development in a given country. According to some export estimates, in modern conditions the stimulating influence of foreign trade relations on the development of an economy is especially clear when its foreign trade turnover reaches at least 25% of its GDP. We are talking about the foreign trade quota indicator.

According to Keynesian theory, the general equation of an open economy is as follows:

Y = C + I + G + (export - import), where:

Y - effective demand,

C - consumption,

I - investments,

G - government procurement.

The economies of some countries are more open, others less so. Moreover, the economies of large countries, as a rule, are less open. The degree of openness of the economy also depends on the provision of natural resources, population size, as well as on its effective demand, which is determined by the level of development of the productive forces. If the productive forces are equally developed, then the economy is more open, with less economic potential, which is understood as the ability of labor and material resources to ensure the maximum level of production of products and services for industrial and non-productive purposes, subject to the efficient use of all resources. In addition, the degree of openness of the economy also depends on the sectoral structure of national production. The greater the share of basic industries (metallurgy, energy, etc.), the less the country’s relative involvement in the international division of labor, i.e. the degree of openness of its economy. On the contrary, the manufacturing industry, especially its branches such as mechanical engineering, electronics, and chemistry, require deeper detailed specialization, due to which there is an increase in the technological interdependence of countries and, accordingly, an increase in the open nature of the economy. Thus, the degree of openness of a national economy is higher, the more developed its productive forces are, the more industries with an in-depth technological division of labor in its sectoral structure, the lower its overall economic potential and provision of its own natural resources.

The openness of the national economy is linked to the concepts of “reciprocity” and “vulnerability”. “Reciprocity” presupposes overcoming emerging imbalances and disequilibria. An example is the imbalance in trade in manufactured goods between Russia and Western Europe and the desire to balance the trade balance.

By “vulnerability” we understand the dependence of the national economy on the situation on the world market, as well as the possibility of incurring losses under the influence of external economic factors. Thus, a change in the economic situation in one country can cause a chain reaction. The main problems for national economies are created by dependence on world prices, demand and competition. Thus, an increase in prices for oil and petroleum products, which is beneficial for exporters, turns into a blow to an import-dependent or energy-intensive economy.

The idea of economic openness does not stand still, but develops as the internationalization of economic life develops.

In modern conditions, they increasingly talk about two types of openness:

1. De jure, associated with the liberalization of regulatory conditions for the implementation of foreign economic activity of foreign economic activity. Openness of this type is expressed in the level of customs barriers, the investment climate, migration legislation, the level of guarantees for the protection of foreign investors, etc.

2. De facto, the intensity of international exchanges is understood; this type of openness characterizes the actual participation of the country and its individual parts in the international system of the world economy and is measured by various indicators.

Not only countries, but also parts of their economic space are drawn into world economic relations in different ways, and for a number of countries, including large ones, this aspect is important for studying the factors constraining the process of openness. The level of openness of the country is, as it were, average for the entire set of elements of the territorial structure of the economy, but the differences between individual regions of the country in the degree of involvement can vary very significantly, which is a consequence of reflecting their different competitiveness and investment attractiveness.

Main features of an open economy:

In order to determine the degree of openness of the economy, it is necessary to consider the main features of an open economy; they can be divided into three groups.

The first group is the signs of an open economy at the macro level:

1) the fullest use of various forms of world economic relations.

2) sustainable foreign economic specialization of the country, in which exchange with the world economy occurs not due to shortages or surpluses of products within the country, but on the basis of comparative production costs and quality of goods.

3) stability of the country’s monetary and financial position, when servicing external debt does not close off opportunities for economic growth and does not create difficulties in attracting new loans.

4) international convertibility of the national currency.

5) the development of the national economy is determined by the trends operating in the world economy.

The second group is the signs of an open economy at the micro level:

1) free access of enterprises of all forms of ownership to foreign markets for goods, capital and services.

2) freedom of choice by all economic entities of domestic and foreign partners and markets when carrying out business transactions.

3) the transformation of foreign economic activity into an organic component in the economic activities of many enterprises.

And the third group is the signs of an open economy in the activities of the state:

1) opening of the domestic market to foreign competition combined with flexible protection of domestic producers.

2) ensuring legal and economic guarantees of economic functioning and protection of foreign capital.

3) creation and maintenance of a favorable investment climate (which can be understood as a set of factors ensuring reasonable accessibility of the domestic market for the influx of foreign goods, capital, technology, information, etc.)

4) liquidation of the foreign trade monopoly for most commodity items.

5) support for domestic exporters in foreign markets.

6) orientation of technical, industrial and social policies towards world standards and trends in their development.

7) rapprochement of domestic economic law with international law.

8) priority of the country’s international treaty obligations over the norms of domestic law.

9) the use of an arsenal of means and methods generally accepted in world practice for regulating foreign economic relations, combined depending on the specific situation in the national economy.

10) ensuring the participation of the state in the most important international economic organizations.

1)implies the country’s active participation not only in international trade, but also in other foreign economic or world economic relations. The concept of free trade concerns only the sphere of foreign trade.

2) openness of the economy does not exclude protectionism, which is the antipode of free trade policy

There are 4 main forms of protectionism:

Selective - directed against specific individual countries, goods or companies.

2. Sectoral - protects certain sectors of the national economy, primarily agriculture.

3.Collective - carried out in relation to a country or a number of countries together with one or more other countries.

Hidden (indirect) - carried out by methods of internal economic policy.

Main indicators of the openness of the country's economy:

The indicators used to measure the degree of openness of the economy are most often used:

export quota
import quota
foreign trade quota

Sometimes elasticity coefficients of exports (to assess the dynamics of economic openness) or imports in relation to GDP are also used.

An export quota is a quantitative indicator characterizing the importance of exports for the economy as a whole and individual industries for certain types of products. Within the entire national economy, it is calculated as the ratio of the value of exports (E) to the value of gross domestic product (GDP) for the corresponding period in percentage: Ke = E/GDP*100%.

The foreign trade quota is defined as the ratio of the total value of exports and imports, divided in half, to the value of GDP as a percentage: Kv = E+I/2GDP*100%.

Another option Kv = (E+I) / GDP*100%*0.5

Shows the importance of foreign trade relations for the country, and not just exports and imports. All indicators do not show the country's share in world exports.

Ee = delta E(%) / delta GDP(%)

Ei = delta I(%) / delta GDP(%)

The value of these coefficients if they are greater than > 1 is interpreted as strengthening the open nature of the economy, if less< 1 то наоборот.

There is no universal indicator of economic openness; we can only talk about a set of indicators.

The World Bank still classifies the openness of an economy by the criterion of a country's export quota. He divides countries into three groups:

Relatively closed, with a quota< 10%
Countries with moderately open economies, quota from 10 to 25%
Countries with open economies, quota > 25%

But here you can also make a mistake: if GDP declines more than exports, then we get the wrong picture.

Open economy models:

The concept of an open economy model is discussed in domestic and foreign literature. If we take into account the economic thought of the West, then each of its directions developed its own model of an open economy. The theories of the open economy are analyzed both in educational and monographic literature in the West. Their research was carried out by various directions of economic thought. This issue remains relevant to this day in the economic literature of foreign countries. After all, open economy models open up such a range of issues as interaction between national economies, the combination of macroeconomic and foreign economic policies, and in the case of its unequilibrium level, the question of developing one’s own stabilization policy.

An open economy manifests itself through the outflow and inflow of capital, export and import of goods and services, and exchange rates. Therefore, there are three levels of its openness, namely:

export of goods and services;
inflow and outflow of capital;
currency movement.

To determine the relationship between countries, open economy theories contain models of a small open economy, in which prices are assumed to be constant, and models of a large open economy, where prices are flexible. Based on "Economics" or "Volkswirtschaftslehre", there is also a division into short-term and long-term periods. Due to the fact that exchange rates in the economies of foreign countries are closer in one case to a fixed rate, in another to a floating one, there are models of an open economy with either a fixed or a floating or flexible exchange rate. Each of these models reflects part of the ongoing government policy. The essence of the reality of the development of open economies can be shown only in the aggregate, in the system of models under consideration.

In the countries of Eastern Europe, with the implementation of the reform, this problem also began to be analyzed. After all, trade and loans themselves were carried out by the state before this period. Eastern European countries opened their economies in terms of capital flows, exports and imports of goods and services at the firm level, introduced exchange rates and currency convertibility, its exchangeability with foreign ones, and the choice of exchange rates was implemented. Among the countries of Eastern Europe, some have opened their economies to a greater extent, others to a lesser extent. The openness of the economy naturally entails the impact of other states on the national economy, which raises the question of the degree of openness of the economy in Eastern European countries, its positive and negative impact, application to specific conditions, the degree of development of the country before the reform, the dose of economic reforms, and their sequence. Therefore, this problem is of interest to Eastern European countries. As a result, it is necessary to consider the main theories of an open economy, their subordination, the real reflection of the existing reality in the field of relationships between countries at the levels of macroeconomic and foreign economic policy, which represents the achievement of economic growth, the absence of inflation and unemployment, and the equalization of the balance of payments.

The concept of a small open economy. The latter accepts the interest rate that is established on world financial markets. A small open economy is an economy that represents a small share of the world market. Access to global financial markets implies that the government does not interfere with international borrowing and lending. In a small open economy, three assumptions are made. So: Y=Y=F(K,L).

This means that the amount of output in the economy is fixed at the level currently set by the existing factors of production and the production function. This is the first thing. Secondly, the greater the amount of disposable income Y-T, the higher the volume of consumption. The consumption function is written as follows: C = f (Y-T). Thirdly, the higher the real interest rate r, the lower the volume of investment: I = f (r).

A large open economy is an open economy in which, due to its scale, the interest rate is formed under the influence of internal economic processes; an economy that can have a significant impact on the state of the international market and on the level of world interest rates.

A large open economy is defined using the following equations. So: Y=Y=F(K,L), which suggests that the amount of output depends on the fixed amounts of labor and capital in the production function. Further, the value of output is the sum of consumption, investment, government purchases and net exports: Y=C+I+G+NX.

It is also assumed that consumption depends on disposable income, which is expressed as follows: Y=C(Y--T).

The volume of investment depends on the real interest rate: I=f(r).

The state of the current account of the balance of payments depends on the real exchange rate: NX=NX(E).

The state of the capital account is a dependent value of the domestic interest rate CF=CF(r).

Lastly, the capital account and current account must balance each other.

An open economy, as stated above, represents the free movement of capital (i.e., its inflow and outflow), the movement of exports and imports of goods and services, the entry of exchange rates, which is the essence of the open economy model. Based on its essence, a system of markets is built. In this case, this is the market for goods and services, capital inflows and outflows, and the foreign exchange market. Each direction of Western economic science expressed its own point of view on this matter. However, there is a general system of categories that explains the open economy. In this case, it is necessary to disclose the functional relationships between exports and imports, capital inflows and outflows, and exchange rates. This is the first thing. Secondly, an open economy does not exist separately from the national economy, but, on the contrary, is closely connected with national markets. The system of its categories is a set of elements interconnected and subordinated by logical relationships.

The basic identity of an open economy is written as current account balance = - capital account balance. So, NX = S-I or NX = (Y--C-G)-I.

The latter can be rewritten as follows:

NX = -Y(r) = S-Y(r).

This is the basic attitude of an open economy. It shows that exports minus imports equals saving minus investment. In order for a country's economy to be in balance, equality is necessary. This equation shows what determines the amount of saving and investment and, accordingly, the capital account (I-S) and the current account of the balance of payments (NX). The amount of savings depends on fiscal policy (Y-T). Thus, lower government purchases or higher taxes increase the level of national saving. The volume of investment depends on the interest rate. Consequently, the capital account and current account are formed under the influence of fiscal and monetary policies. The latter are the instruments of state policy with the help of which stabilization policy is achieved, a combination of various options.

Risk factors:

The framework condition for the theoretical equilibrium of an open economy is capital mobility, which means that there are no significant differences in the risks and liquidity of deposits denominated in national currencies. In accordance with differences in expected returns (interest rates and exchange rates), international capital flows equalize interest rates in local financial markets.

Financial crises of the 90s and the beginning of the 21st century. did not change the principle of functioning of the global financial system: having left some markets, capital came to others, the system as a whole continued to function, meeting the framework conditions of macroeconomic theory.

In the context of the global liquidity crisis (GLC), which began in 2007 with the mortgage crisis in the United States, almost all local financial markets turned out to be risky, short-term investors began to “throw around” between investments in conservative assets that can ensure the preservation of value, and in high-yield, but risky assets.

In theory, such a development of events is practically excluded; there are no competing impacts on the domestic rate from a decrease in domestic demand in the commodity and money markets (or a decrease in the supply of money), on the one hand, and speculative demand for safe-haven currencies (in the general case, safe-haven assets), on the other. In other words, over short time intervals there are no factors that impede the adaptation of small open economies (small economies or SOEs) to new equilibrium conditions in the global financial market. Therefore, by adjusting the current account of the balance of payments or reserves, MOEs are theoretically able to keep domestic private demand stable.

During the global liquidity crisis, such adjustment was complicated by sporadic surges in negative expectations of short-term investors and downward pressure on almost all national financial markets. Thus, the flow of capital began to be determined not by differences in interest rates, but by the levels of sovereign and corporate risks. This worked not to smooth out, but to widen the gap in domestic rates: the gap between the maximum and minimum domestic rates in OECD countries grew in 2007-2008. by almost 2 p.p. The situation in emerging markets turned out to be even more tense: in 2009, the outflow of capital amounted to approximately 190 billion dollars against an influx of 618 billion in 2007. As a result, “the idea that banks would finance their needs for external capital guarantees a stable flow of capital during a crisis."

Moreover, the longer negative expectations persist, the greater the duration and scale of adjustment and the more protracted and reversible the exit from the global recession turns out to be. Cyclical processes affect not only current accounts and reserves, but also the processes of external and internal borrowing, and, consequently, household consumption, investment, and government consumption.

Therefore, the growth factors of corporate and sovereign risks that adjust the conditions of macroeconomic equilibrium are currently a very important subject of economic research.

The global liquidity crisis, which began in the United States in 2007, can be considered the first full-fledged global financial crisis.

From a theoretical point of view, this is the first crisis of large open economies of the era of globalization. Previous crises were either local, affecting individual small economies integrated into the global one (Mexico - 1994, Argentina - 2002), or regional, spreading across a group of small economies (in its pure form - the crisis in Southeast Asia 1997-1998 gg.). The liquidity crisis became global precisely due to the influence of the national financial market of large economies on many small ones.

The analysis also indicates that there is no strict connection between the type of monetary policy and the level of risks in the financial system. A critical increase in risks can be observed both with a fixed exchange rate (Central and Eastern Europe), and with a regulated one (Mexico), and in an economy with a reserve currency (USA), and in an economy with a floating currency (Iceland). This suggests that fixing the exchange rate can increase risks, but is not the root cause of their occurrence. Moreover, the advantages of floating rates as indicators of the impact of capital flows on national financial markets are no longer obvious. This function of a floating exchange rate can be successfully performed by regulating entry into these markets (example of China). If the integration of the national financial market into the global one is not only not limited, but is even specifically encouraged (the example of Iceland), then the sensitivity of the economy to the indicative function of the floating exchange rate may be weakened.

The only macroeconomic variable is the conditions for investing capital in the national financial market. However, a caveat is necessary here. During the most acute phase of the crisis, the high share of non-residents in the assets of most small economies turned out to be a kind of open gateway for the outflow of short-term capital into reliable assets. China, with its strict regulation of the presence of foreign financial institutions in its market, has avoided such an outflow. However, in the general case, the height of entry barriers to national financial markets also turns out to be risk-neutral: in the USA it was quite moderate, that is, the risk factor was not external, but internal capital flow.

Thus, it is not possible to identify a universal reason for the accumulation of risks in national financial systems, at least in those discussed above. Each of the factors acts in a certain combination with others, forming several variants of risky combinations. Fixing the exchange rate, for example, is fraught with risks when combined with tight monetary policy and weak controls on capital inflows. Loose monetary policy can be risky, coupled with the reserve status of a large economy's currency and the lack of controls on capital flows within the economy. Tight monetary policy in a small economy can lead to a liquidity crisis when aggressively attracting capital from abroad, despite a floating currency. Accordingly, the question about the universal “anti-crisis” factor in the macroeconomic equilibrium of an open economy does not have a clear answer. So far, only the Chinese model has demonstrated crisis stability, which, unlike others, provided for control over external and internal capital flows.

At the same time, the low share of non-residents in the financial markets did not save the US economy from the crisis, and control over internal capital flows in China is achieved at the cost of inhibiting the formation of a full-fledged credit market and is fraught with the accumulation of “bad” assets in the public sector. Therefore, it is hardly possible to consider the Chinese approach as an undisputed guideline for the reform of global finance. But there is no doubt that in order to increase the resilience of economies to liquidity crises, it is necessary to continue the search for risk management mechanisms in national financial systems.

1.2 National interests and government regulation of an open economy

The concept of “interest” includes a system of needs (priorities and their subordination) existing among the population.

Reflecting the unity of all economic needs, interest, in contrast to needs oriented toward objective goals (the need for bread, shoes, a car, etc.), is aimed at economic relations and living conditions in general. Therefore, interest acts as a stimulus for the activity of an economic entity, determining its goals, economic behavior and actions.

The economic goals of different countries may be different. For example, the goal of rapid economic growth is an important priority for the indicator system for developing countries. In industrialized countries, the priority task is to protect the environment and reduce the consumption of non-renewable resources. The goal may be to provide jobs for those who want to work.

Setting goals and their implementation is a sober economic calculation that takes into account the real economic capabilities of the country.

The national goals with which the state's strategic decisions should be related are, on the one hand, determined by the common interests of various layers and groups, and on the other, by the foreign policy interests of the state and its economic security. The presence of common interests that are higher than the interests of individual classes and social groups often does not exclude the diversity of interests and their internal contradictions.

It is important that the economic security policy pursued by government institutions should be aimed at maintaining the entire complex of macroeconomic indicators.

For example, you can significantly increase GDP growth through oil exports. The lack of growth in oil production may affect the domestically oriented market, which will inevitably lead to an increase in the cost of goods and services and, as a consequence, to higher prices. The state needs to balance economic efficiency and safety in each specific case, but what is beneficial in the short term may turn out to be completely unprofitable in the strategic aspect.

State policy in the field of foreign trade is carried out using tariff and non-tariff methods of regulation.

The introduction of import duties is beneficial to national producers and the state, which receives additional budget revenue from rising prices. Consumers are forced to buy imported goods at higher prices, and therefore suffer losses. These losses usually turn out to be greater than the gains received by producers and the state, so the total net effect of these measures will be negative.

The application of export customs duties leads to a decrease in domestic prices, as a result of which national consumers benefit and producers suffer losses. The total gain to society as a result of the introduction of export duties is less than the losses of producers, so the country's net losses increase. This method of tariff regulation is used mainly by underdeveloped countries.

Developed countries usually resort to export subsidies in the following forms:

providing low-interest loans and tax incentives to exporting firms or foreign clients;
promoting sales of export products abroad. Non-tariff methods of regulating foreign trade include: import quotas, “voluntary” export restrictions, dumping, trade embargo, etc.

Import quotas (contingents) are quantitative restrictions on the volumes of foreign products allowed for import into the country. As a result of the introduction of import quotas, producers benefit and consumers lose. The net effect on the country's welfare is negative.

"Voluntary" export restrictions mean that the exporting country agrees to limit exports to that country.

The main reason for their use is the benefit of national producers of importing countries, for whom restricting the import of a certain product into the country provides additional opportunities to sell their products on the national market. This method is similar to import quotas, but is more expensive for the importing country, since decisions to restrict trade are made at the government level.

Dumping means selling a product abroad at a price lower than it is sold in the domestic market of the exporting country, or below the cost of the product. This method is used during periods of economic downturn, when the manufacturer cannot fully sell its product on the domestic market, but does not want to reduce production. The use of dumping in global trade is considered a form of unfair competition and is prohibited by GATT/WTO rules and the national legislation of a number of countries.

Trade embargo is a state prohibition of the import into or export from any country of certain types of products. Such sanctions are based not on economic benefits, but on political considerations. An embargo harms all participants in international trade and is an extreme form of non-tariff restrictions on foreign trade.

An economy is considered open if the government applies a minimum of export and import restrictions. The openness of the economy is characterized by the following indicators:

foreign trade quota in GNP;
share of exports in production;
share of imports in production;
the share of foreign investments in relation to domestic ones.

Global trade received an additional stimulus due to the activities of the World Trade Organization (WTO) to liberalize export-import transactions and, in particular, to reduce and eliminate tariff and non-tariff barriers.

Considering the indicators of economic openness, Russia is a country with an open economy.

2 Russian economy in the context of problems of openness and national-state interests

2.1 Openness of the Russian economy: trends, advantages, problems and international comparisons.

Trends leading to an increase in the level of openness of the Russian economy:

Increasing the level of market competition. Thanks to the liberalization of foreign trade, foreign manufacturers entered the Russian market offering a wide range of new goods and services. In many cases, these goods and services were significantly superior in quality to their Russian counterparts. The price of imported products also often turned out to be quite competitive. This expansion of imports affected most sectors of the Russian economy. Due to increased competition, many enterprises whose quality of work left much to be desired began to lose their sales niches. To survive in these conditions, such enterprises needed to improve a lot:

product quality, stability of supplies, technological level of machinery and equipment, discipline and integrity of personnel, management, etc. In a number of cases, Russian manufacturers managed to achieve radical improvements and restore their market positions (food and pharmaceutical industries, production of cosmetics and parts of building materials, mobile telephone networks). In other words, the opening of Russian markets and international competition accelerated the development of many sectors of the national economy.

Expanding consumer choice. Another positive result

opening of the Russian economy - a radical increase in the quality of consumer choice. High- and middle-income households were able to take full advantage of this benefit. As a result, the quality of life of prosperous groups of the population has increased significantly, especially in large cities. The emergence of new products and the introduction of new technologies. The increasing degree of openness of the Russian economy contributed to the arrival of many innovations from abroad: production ideas, engineering and design solutions, products and technologies. Of course, this helped Russian manufacturers understand in which direction they needed to develop to achieve market success. In addition, the use of foreign experience in many cases significantly accelerated the modernization of production and improvement of product quality. Some foreign strategic investors also contributed to the technological renewal of the Russian economy. Opening new enterprises and production facilities in Russia, they used modern know-how, new technologies, equipment and materials. Typical examples of this kind were the construction of food factories by large foreign companies (Nestle, Danone, Cadbury, Parmalat, etc.), the organization of large-scale retail chains (Metro, Auchan), the opening of small automobile assembly plants, as well as the creation of new production facilities in pharmaceuticals, packaging industry and some other sectors.

Suppression of development impulses in lagging industries. These industries include light industry; most sub-sectors of mechanical engineering (electronics production, aircraft manufacturing, machine tool building, transport engineering); chemical industry focused on domestic demand; local industry in depressed regions.

The situation in these industries was difficult during the reform period. Despite this, enterprises in lagging industries quite actively struggled to survive and improve their market positions, using both formal and informal methods of adaptation. Sometimes they managed to achieve some success. However, macroeconomic circumstances, including the economic openness of Russia, did not allow the listed industries to emerge from a permanent state of crisis.

In particular, Russian textiles, as a rule, could not fully compete with much cheaper products from China and other Asian countries, for the import of which there were no serious barriers to Russia. Russian machinery and equipment in most cases are significantly inferior to imported analogues in terms of quality characteristics, which ultimately also led to the loss of their positions in the domestic market. These problems were further aggravated by the revaluation of the ruble in the period from 1995 to 1998.

The situation could only be changed by large-scale technological modernization in lagging industries or the establishment of high barriers to

import. But external investors did not want to invest in unprofitable industries, the state refused to introduce serious restrictions on imports, and the industries themselves could not earn money for their modernization. In other words, the lagging sectors were deprived of both money and time for full adaptation, and to a significant extent this state of affairs was associated precisely with the factor of openness of the economy.

According to the Concept of long-term socio-economic development of the Russian Federation, one of the key targets for the development of the Russian economy in the period until 2020 is to increase its international competitiveness. It is noted that the most important result achieved during the period of transformation processes of 1990-2000 was the strengthening of Russia’s integration into the world economy: “A high degree of openness of the Russian economy has been achieved. Foreign trade turnover in 2007 amounted to 45% of gross domestic product, which is one of the highest indicators for countries with developed economies.”

The share of Russia's exports and imports in the world is quite low. This can be seen from the table below.



The world is just

In the world community, the degree of openness of the Russian economy, on the contrary, is assessed as very low. The World Economic Forum report notes: “...Russia’s competitiveness continues to decline in one of the most important analyzed areas - the efficiency of commodity markets. Competition—domestic and international—is limited by ineffective antitrust policies, as well as trade barriers and foreign ownership restrictions.”

According to the results of comparisons of trade intensity of different countries, Russia occupies an average position along with Italy, Spain, France, and India. The ratio of foreign trade turnover to gross domestic product in Russia is higher than that of Japan, but lower than that of Great Britain, Canada and Mexico. Thus, to say that according to this indicator Russia has reached the highest level among countries with developed economies is not entirely true.

According to calculations, Russia occupies an average position in the ranking in terms of two indicators: a) the percentage of product items for which customs duties are not levied; b) the percentage of product items for which the import duty rate exceeds 15%. Thus, Russia's use of tariff methods to restrict imports in relation to these countries is not excessive. However, according to the indicator characterizing the intensity of the use of non-tariff restrictions - the percentage of product items for which non-tariff import restrictions are established - Russia occupies one of the last places in the ranking among all the countries under consideration. A higher frequency of use of these import restriction instruments in relation to countries with most favored nation treatment was found only in Switzerland (80%) and

Republic of Belarus (12.2%). The results of international comparisons presented above indicate that the degree of openness of the Russian economy (when assessed from the perspective of the height of barriers to foreign competition) is relatively low.

2.2 Financial incentives and restrictions on the growth of the Russian open economy

We have to admit that the basic trends and relationships associated with the formation of final demand and ultimately determining the dynamics of GDP are downward.

1. The dynamics of exports, due to the limited capabilities of the raw materials industries, have slowed down significantly and, if the structure of exports remains the same, this trend can only intensify. According to forecasts of the Ministry of Economic Development and Trade of the Russian Federation, the growth rate of hydrocarbon exports by 2010 will decrease (on average) to less than one percent per year.

2.Population consumption has demonstrated extremely high and even accelerating dynamics in recent years. At the same time, this dynamics was largely based, firstly, on additional economic income associated with favorable foreign economic conditions, and secondly, on the rapid development of the consumer lending system. The positive impact of these factors on consumption dynamics and economic growth in the medium and long term is largely lost.

3.Despite a certain increase in investment, in recent years the share of savings in GDP remains at a fairly low level - about 18%. Maintaining such a rate of accumulation in the face of an inevitable increase in capital intensity means an inevitable slowdown in economic growth.

4. Government consumption, both due to the current financial policy and due to the slowdown in the growth of budget revenues, is not able to fulfill the role of an accelerator of economic dynamics.

5. Outpacing (compared to production dynamics) import growth is the most powerful negative factor in economic dynamics in the medium and long term.

High and even accelerating dynamics of domestic demand indicate that the economy is striving to grow much faster - at the level of 10-11% per year, but it is not succeeding. The rather intense domestic demand of recent years cannot be transformed into adequate dynamics of domestic production precisely due to excessively fast-growing imports.

In addition to the macro-trends discussed above that act towards reducing potential economic dynamics, there are also a number of significant barriers and restrictions, without overcoming which it is impossible to constructively solve the problems facing society. These include:

The lack of an effective capital flow system, which does not allow, in conditions of excess financial resources, to finance the development of the manufacturing industry;

Low wages in the production sector of the economy, hampering the growth of production efficiency and the spread of innovation;

The general technological lag of the Russian economy, which does not allow ensuring the proper competitiveness of products and services.

Objectively, due to the power of the trends and limitations discussed above, the probability of the implementation of a development scenario is quite high, the main characteristics of which are determined by the parameters of inertial trends. Thus, as part of developing a long-term forecast, it is first necessary to consider the inertial development scenario. At the same time, it is important to understand that this scenario, by its nature, always relies on already established trends, always proceeds from the fact that these trends will remain dominant in the future, and for this reason is always somewhat conservative. Analysis of the business-as-usual scenario is extremely important because, firstly, it gives an idea of the long-term consequences of development within the framework of inertia, and secondly, it allows us to understand what mechanisms and what scale and structural content of costs must be used to overcome growth limitations.

The hypothesis adopted here about the possible negative impact of accelerated import growth on GDP dynamics is very moderate. In fact, in the last one and a half to two years there has been a significant increase in the elasticity of imports in relation to the rate of ruble strengthening. This leads to the fact that even with the slowing strengthening of the ruble, imports are accelerating. Meanwhile, an acceleration of imports relative to GDP dynamics by 1 percentage point is equivalent to a decrease in the GDP growth rate by 0.3 percentage points. Thus, the above probable assessment of economic dynamics within the framework of the inertial development option reflects, rather, the upper range of inertia. We estimate the lower limit of the inertia range at 3.5-4.0% of GDP growth by the end of the forecast period. It is important to note that, despite all the trends and limitations listed above, none of the inertial scenarios and forecasts developed in recent years have been fully realized. Each time, the economy managed to achieve a slightly higher growth rate, slightly lower inflation, and slightly faster dynamics of consumption and investment. This means that the economy constantly generated new factors and growth mechanisms and found new opportunities to overcome emerging limitations. These positive increases in production dynamics and efficiency, not taken into account in inertial forecasts, were not very significant. An extremely powerful tool that can either support or destroy economic growth is foreign economic policy.

The sharp slowdown in the dynamics of exports of products from the primary industries, observed in recent years, can and should be compensated by the growth in exports of products from the manufacturing and services sectors. In fact, the main problem with exports of these sectors of the economy is not so much the lack of competitive products and services, but rather the insufficient development of export support infrastructure and the lack of proper government support. Where this infrastructure has been created and is operating, for example, Rosoboronexport, exports demonstrate stable dynamics.

At the same time, it is necessary to keep in mind that Russia’s opportunities to enter foreign markets with relatively uncomplicated, mass-produced, labor-intensive types of products are at least very limited, if not lost altogether. Consequently, it is necessary to develop and stimulate the production of those types of products that are distinguished by a higher technological and scientific level, i.e. have competitive advantages due to high “quality” rather than low “price”, advantages due not to the cheapness of labor, but to its high qualifications. In relation to the problem of growing imports at an ever-accelerating pace, it should be recognized that the Russian economy has reached the limit of the level of openness and has exhausted its reserve of price competitiveness in the sense that, without special measures of state support, the Russian manufacturing industry as a whole (and not just its individual unproductive segments) will not survive. able to effectively counter the consequences of the rapid strengthening of the ruble. Either the real exchange rate of the ruble will strengthen by no more than 2-3% per year, or it is necessary to implement a set of measures to curb imports.

In this regard, it is necessary to emphasize that until now Russia has practically not pursued a large-scale protectionist policy. And if in the past this was justified, since the economy was protected by the relatively low exchange rate of the ruble, now this kind of policy needs to be formed and carried out consciously.

Accession to the WTO gives Russia a legal instrument to protect the domestic market and support foreign economic expansion. The challenge is to use this tool effectively.

2.3 National economic interests as a priority in the Russian economic modernization program

Today, almost no one doubts that without qualitative renewal and structural changes, the Russian economy will not be able to overtake, but even catch up with the Western economy in the foreseeable future. All these tasks can be solved if the systemic modernization of the Russian economy is successfully implemented. The results of modernization should be an accelerated pace of technological renewal and overcoming the dependence of the Russian economy on external factors that stimulate its focus on raw materials. At the same time, increasing the standard of living of the population is not only the goal, but also the determining factor and condition for both the modernization of the domestic economy and intensive economic growth. In terms of its costs and duration, the modernization program must represent a colossal investment project that cannot be implemented without economic intervention and the power of the state. But this is only ideally... Unfortunately, in real life the above is not observed.

Of all the scientific movements that serve as an ideological source for economic policy, the Russian government chose monetarism - the main policy instrument of the IMF and industrialized countries. However, other methods of regulating the economy were unfairly rejected by the reformers. The fundamental foundations of modern economic science and practice are not at all the ideas about the free market that existed in the middle of the century before last, sinfully adopted by our reformers. They are based on state regulation of processes occurring in the economy, including the market sector, which, by the way, also existed in the USSR. In addition, our reformers did not deign to take into account that, firstly, not a single country in the world that has followed the course of monetarist reforms has been able to achieve impressive achievements in

national economy, but turned into the periphery of the developed West. Why should Russia become an exception? Firstly, monetarism in a peripheral economy is not capable of making the country a leader. On the contrary, it forces the country to occupy a unique niche in the international division of labor - raw materials, labor-intensive and material-intensive specialization. There is no need to talk about any competitiveness of the country in these conditions, much less about leadership in the world economy! Indeed, since August 1998, the government has taken a wait-and-see attitude, hesitating to implement measures to stimulate national aggregate demand and, at the same time, passively resisting IMF recommendations to continue the course of monetarism. Secondly, Russia, an initially industrially developed country, unlike other countries, has something to lose. Over the past few years, Russia has been rapidly deindustrializing. And talk about the low industrial development of the country is all myths. If we follow the recommendations of world financial organizations, Russia can only

humbly forgive the debts of the poorest, pay “in full” yourself, and “freeze” salaries and pensions in order to save for a hypothetical fund for future reforms. But that's not so bad. The main thing is that our country must find the strength to critically evaluate these recommendations, choosing from them what will really benefit the economy and citizens, and not being guided solely by considerations of international prestige (and not only them). But there have been no changes in the current reform course. The “zoological mimicry” of Western institutions—Westernization—continues.

If we consider the Russian economy as an element in the system of world economic interests, then we can state that with a large supply of natural and labor resources and vast territories, and taking into account the level of scientific and technical potential still preserved from past times, its economy is a serious potential competitor to the developed countries.

The principles of egocentrism are the basis of the public policy of Western states. Their governments strive to maintain and increase the high social level of their population, trying to consolidate the standards of high standards of living standards at the expense of cheap labor, material and raw materials for the rest of the international community. As in any competition, it is quite natural for them to pursue a foreign economic policy that helps prevent the revival of Russia's production potential. And the lack of competition from the real sector of the Russian economy allows the West to receive monopoly high profits. Russia, day after day, year after year, is losing its vital basis - production and highly skilled labor. With the lack of development of our own production in our country, the technological lag behind Western countries will become more and more significant. Hence the urgent need for the urgent development of the national manufacturing sector, relying on its own resources and productive forces. Russia needs fundamental institutional

and structural changes. If specific measures are not taken by the state, the lag in economic development will become simply catastrophic.

The main theme of the International Economic Forum held in St. Petersburg in June 2010 was modernization. Even before the forum, the Russian authorities identified five priority areas for modernization: information technology, telecommunications, nuclear technology, biotechnology and energy efficiency. From the point of view of businessmen of all stripes, these are the areas that will most quickly bring a return on investment. “Projects that create infrastructure never pay off, they create an environment,” explains Russian entrepreneur, owner and head of the Troika Dialog company, ex-president of the Skolkovo Moscow School of Management Ruben Vardanyan. - I think that we have a horizon of 15-20 years, when the results will be visible. Food and services will pay off

faster than complex machine-building complexes.” The position arises that in other industries you can wait for a refund for decades and get nothing? At the same time, according to the forum participants, it is necessary to modernize the economy through private business, and not from above under government pressure.

Today there is a technological, technical-economic, structural degradation of the national economy, degradation of the potential of Russian industry, primarily mechanical engineering. Modern Russian reformers-modernizers, who reject the need to develop a new approach to socio-economic problems, different from the economic “mainstream” imposed on the entire scientific and educational world, and do not suspect the existence of a political economic law of faster growth rates of products of division I compared with the growth rates of products of division II divisions. Despite numerous attempts to “discard” this law as having lost its meaning, it still applies. This law manifests itself at the macroeconomic level. However, its requirements are found at the level of the enterprise (economic entity) - in order to increase the production of consumer goods and create a new company in these industries, it is necessary to first increase the production of equipment, raw materials and materials intended for industries of division II. Also, the mechanical engineering industries that produce new equipment and use new technology always develop at a higher rate compared not only with the growth rate of products of Division II, but also with the growth rate of all industrial products. What are the current realities and the results of the current economic policy? Objectively, the rate of decline in industrial production and investment in Russia is greater than in any of the G20 countries. During the acute phase of the crisis, Russia has the worst indicators - approximately 8% of GDP and 40% for mechanical engineering. The share of industry in Russia's added value is 28%. The dominant sector of the economy was services (61.8%). In the post-Soviet period, throughout all economic reforms, the share of mechanical engineering in the total volume of industrial production decreased without stopping. Its share in the total amount of investments in 2000-2006. decreased, according to Rosstat, from 6.9 to 5%, incl. in production

machinery and equipment from 1.9 to 1.6%, electrical, optical and electronic equipment - from 1.5 to 1.1%. Agricultural engineering has deteriorated. In 1990-2008 the production of tractors, according to Rosstat, decreased by 19 times, forage harvesters - by 14 times, grain harvesters - by 9.4 times, milking machines - by 50 times. In 2009-2010 equipment production continued to decline. According to Rosstat, the share of mechanical engineering in the total volume of industrial production in Russia has decreased to 20% (Poland - 28%, China, Italy,

France, England, Canada - 35-40%, USA - 46%, Japan and Germany - 51-54%).

These and similar disastrous results, expressed in technical and economic non-competitiveness, play into the hands of our competitors today. As a result, Russia will suffer the most from the global crisis.

In this situation, the question arises: what position will Russia find itself in in the new world? An objective and unbiased analysis of the current situation reveals that if the liberal-monetarist line does not undergo changes, then we can only dream of a phase of economic recovery. And modernization itself in the Russian way will gradually turn into an irreversible logical sequence that is detrimental to society as a whole - Westernization - demodernization - archaization.

Conclusion.

In modern conditions, no country is able to independently produce the entire range of necessary high-quality products, and often this is not economically feasible. Countries have to resort to international cooperation and exchange. In addition, countries are provided with an additional market and increased access to resources (raw materials, capital and labor). In general, economic boundaries in the world are gradually erasing, and international integration is taking place.

The more deeply a country or region is integrated into the world economy, the more it can take advantage of the international distribution of labor and its comparative advantages.

An open economic system plays a big role in the world economy, which is reflected in the export and import of goods and services, and the movement of capital. It affects the directions, extent and forms of the country’s participation in the international division of labor. The global level of development of productive forces and the internationalization of production exclude the possibility of effective farming within closed complexes. International exchange provides an influx of missing or cheaper consumer and capital goods and services, as well as access to additional markets. The main indicators characterizing the role of foreign economic relations include export and import quotas of goods and services, the commodity structure of foreign trade, the nature of participation in the international movement of capital, technology, labor, the degree of openness (internationalization) of the economy.

The openness of the economy is associated with the influence of a country's participation in the international division of labor on the formation of the structure of its production. In a more or less closed economy, the structure of production depends, on the one hand, on the capital and resources available in the country, and on the other, on the structure of domestic demand. It is characteristic of an open economy that the international division of labor influences decision-making regarding the formation of the internal structure of production.

National interests play an important role in the normal functioning of the economy. National interests are not a subjectless category, since their bearer is a national community that has its own history and is distinguished by a certain identity. This community is a collection of individuals with their own private interests, which coincide with national interests until the individual opposes himself to the national community. The properties of national interests indicate the need for their two-level analysis: internal, based on an awareness of the common interests of various layers and groups, and external, focused on positioning the nation in the world community, where national interests act as a particular in relation to the whole. National economic interests are a complex set of relations between national, foreign and international economic entities regarding the production, distribution, exchange and consumption of the country's gross domestic product, aimed at the long-term development of the national economy as an integral and competitive organism in the context of globalization. Today, the national economic interests of the Russian Federation are represented primarily by the interests of national companies producing gross domestic product and ensuring the integrity, competitiveness and development of the national economy in the context of globalization.

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