The openness of the national economy is expressed. Main indicators of the openness of the country's economy

Open economy - an economy integrated into the world economic space, quite fully realizing the advantages of the international division of labor, actively using various forms of world economic relations caused by globalization processes.

Factors influencing the degree of openness of the economy:

Level of economic development of the country;

Structure of social production;

Resource provision;

Capacity of the domestic market.

Key indicators:

Export quota (Ec):

Ek = E: GDP ·100%,

Where E – export value for a certain period;

GDP is the value of gross domestic product for a certain period.

Characterizes the importance of exports for the economy, i.e. shows the share of export production in GDP. It can be calculated both as a whole and for individual industries (product groups). The larger the export quota, the deeper the country's participation in international economic relations. An indicator exceeding 30% is considered high.

Western European countries demonstrate a significant degree of openness: the Netherlands - 57%, Luxembourg - 40%, Sweden - 34%, Switzerland - 32%.

Some developing countries have even higher rates: UAE - 105%, Guyana - 84%, Qatar - 89%, Suriname - 68%, however, unlike developed countries, the economy of these states is almost entirely dependent on the export of raw materials.On the other hand, the most powerful countries have a low export quota: USA - 7%, Japan - 12%, France - 22%, UK - 17%, Italy - 22%.But this does not indicate a low degree of integration of these countries into the world economy, but rather a large volume of GDP and the presence of a wide domestic market.

Import quota (IQ):

Ik = I: GDP ·100%,

Where And – the cost of imports for a certain period.

Import quota rates are usually high in developing countries and moderate or low in developed countries. So, in Guyana it is 91%, Swaziland - 88%, Suriname - 68%, Yemen - 65%. At the same time, in France this figure is 23%, Italy - 22%, USA - 14%, Japan - 10%.

The combination of export and import quotas gives an idea of the scale of the connection between individual national economies and the world economy.

Share of imports in national consumption (Di):

Di = I: (GDP + I – E) 100%,

An increase in the share of imports in the volume of national consumption may indicate an expansion of the range, an increase in the goods (services) offered, and the stimulating influence of competition. At the same time, a very high value of this indicator indicates a reduction in domestic production due to its low competitiveness, the emergence of a significant and unjustified dependence of individual industries, and the economy as a whole, on imports.

Foreign trade quota (VTk):

VTk = WTO: GDP ·100%,

Where WTO - volume of foreign trade turnover.

WTO = E + I,

Foreign trade turnover per capita (WTOn/d):

VTOn/d = VTO: Chn,

Where Chn – population size

International capital flow indicator (FII/d):

PIIn/d = FII: Chn,

Where FDI is the volume of foreign direct investment.

Openness coefficients must be used in conjunction with other indicators of the country's economic development.

For example, the USA and Japan have huge volumes of exports and imports, and in terms of openness they are considered states that have limited external relations.

In contrast, the poorest countries, which export only one type of extractive or tropical agricultural product (coffee, cocoa, bananas) and have generally underdeveloped economies, appear to be active participants in the international division of labor.

Concept of economic openness

Definition 1

An open economy is a national economic system, the development of which is influenced by the global market mechanism, and its foreign trade relations have a positive impact on the socio-economic development of the country.

The modern world is experiencing the influence of globalization processes. Countries are opening their borders and increasingly interacting with each other in the areas of trade and joint production. The desire for integration into a single economic space has become a continuation of the international division of labor. The latter arose due to objective reasons, namely, the peculiarities of natural and climatic conditions, the availability of cheap production factors, and the availability of resources, including energy sources.

International trade is based on the fact that no country can fully satisfy domestic consumer demand. In addition, the international division of labor makes it possible to sell products on the world market that can be produced at a price lower than the global price. At the same time, the country has the opportunity to purchase goods whose production would be too expensive.

The “Iron Curtain” that existed in the countries of the Soviet camp required the state authorities to manage the economy in such a way that would allow them to provide for the full range of needs of the population. History has shown that autocracies are not sustainable. Economic closure leads to gradual stagnation of the economy and a decrease in growth rates, which are often achieved through artificial intervention. The most flexible system of relations at the moment is considered to be market interaction between micro- and macroeconomic entities. It is built on the principles of freedom and the pursuit of personal interest.

The development of open economic systems is a natural continuation of integration and globalization processes in the world. The features characterizing an open economy include:

Formation of sustainable international specialization.
Carrying out exchange based on production costs.
Comparable prices for products from domestic manufacturers and imported suppliers.
Stable monetary and financial position.
The ability of national enterprises to enter the international market.
Freedom of market choice for national business entities.

Note 1

Thus, the openness of the economy is a natural phenomenon of the global socio-economic space.

Factors and benefits of an open economy

The degree of economic openness affects a country’s ability to integrate into the world economy and participate in the processes of division of labor and cooperation. In turn, this helps to carry out a rational distribution of resources and finished goods. Competition between countries has a positive effect. Achieving economic stability provides an opportunity for countries to learn from experience and also stimulate the growth of domestic production potential.

The degree of economic openness of a country is determined by the following factors:

Level of economic development. With high levels of productivity, living standards and per capita income, a discrepancy is established between the internal needs of the market and the supply existing on it.
The size of the economy's potential. The lower the potential, the greater the degree of openness required.
Availability of necessary natural resources.
Industry proportions. The greater the number of basic industries, the more closed the economic system can be. Conversely, the more developed the tertiary sector of the economy, the service sector and the processing industry, the more open the economy is.

It is worth noting that there cannot be absolute economic openness. Each country has sectors of the national economy that require compliance with trade secrets or direct government regulation. As a rule, these are branches of the defense industry, scientific and technical development. In addition, it is necessary to monitor the impact of economic openness on the development of the domestic market. If access to it is open to any entity, then the national market may not withstand competition.

Indicators of economic openness

The main criteria for assessing the degree of economic openness are:

Export elasticity indicator. Demonstrates the dependence of changes in export volumes on changes in gross domestic product.
Import elasticity indicator. Describes the change in the volume of imports when the gross domestic product changes by 1%.

However, these criteria are not 100% reliable. A situation often arises when the export quota is higher than average for energy importing countries. But this does not indicate economic openness. This coefficient shows the degree of economic involvement of a country in the world economy.

The export quota or the share of exports in gross domestic product is calculated using the formula:

$XQ = X / GDP 100$%

where $X$ is the share of exports, $GDP$ is gross domestic product

If the indicator is less than 10%, they speak of economic closure. An indicator above 35% indicates the openness of the economy, its competitiveness and productivity.

The import quota is calculated using the formula:

$MQ = M / GDP 100$

where $M$ is the share of imports, $GDP$ is gross domestic product

Note 2

The higher the share of imports, the more open the economy is, which does not always have a positive effect. A large share of imports indicates that the country's economy is dependent on imported goods, and therefore on the behavior of other countries.

An open economy is a country's economy integrated into the world economy, the world market.
It is characterized by the following features:
- liquidation of the state monopoly of foreign trade;
- active use of various forms of joint entrepreneurship;
- effective use of the principle of comparative advantage in the international division of labor;
- organization of free enterprise zones.
It is necessary to distinguish between the concepts of “free trade” and “open economy”. The concept of “open economy” is broader than the concept of “free trade” as trade in goods, including freedom of movement of factors of production, information, and interchange of national currencies.
There is a distinction between concepts such as “established open economy” and “transition to an open economy”. An open economy does not mean lack of control and permissiveness in the state’s foreign economic relations or transparent borders. It requires significant government intervention in the formation of a mechanism for its implementation at the level of reasonable sufficiency. There is no absolute openness of the economy in any country.
Indicators of an open (closed) economy, by which the degree of openness (closedness) of the economy can be assessed, are qualitative and quantitative. A general conclusion can be drawn only after a general analysis of the country's economy and the factors influencing openness.
The quality criteria include the following:
- a favorable investment climate of the country, reflecting the desire to invest capital in the economy of a given country, i.e. opportunity to benefit from investment. To create such a desire among investors, the country must have the appropriate structure and volume of economic resources;
- accessibility of the domestic market for the influx of foreign capital, goods, technologies, information, and labor. The desire of investors alone is not enough to create an open economy. It must be possible for investors to penetrate to a reasonable extent into the market of an investment-friendly country, i.e. the desire of this country to develop its economy;
- the structure of the country’s foreign trade turnover, having studied the qualitative and quantitative nature of which we can draw a conclusion about the openness of the country’s economy. If the volume of exports and imports of a country is large, then this rather indicates the openness of this country than its closedness.
Quantitative criteria include the following:
- the share of exports and imports in GDP, the combination of which gives an idea of the scale of connections of individual national economies with the world market. Thus, the ratio of exports to GDP is defined as the export quota (Ek):

Where E is the volume of exports.
The degree of openness of the economy is considered acceptable if Ek = 10%;
- import quota (IK):

Where I is the volume of imports;
- foreign trade quota (VTk):

Where VT is the volume of foreign trade turnover.
This is a comprehensive indicator of openness. The disadvantages of the foreign trade quota indicator include the lack of accounting for the amount of exports and imports of capital.
It should be noted that the presented coefficients and indicators do not always adequately reflect the state of openness of the economy.
Factors in the formation of an open economy include:
- government regulation. In many countries, it is the state that stimulates export production, encouraging the export of goods and services, promoting cooperation with foreign companies, and the development of foreign economic relations. Thanks to the state, a strong legal framework was created that facilitated the influx of investment, technology, labor, and information from abroad;
- the desire of transnational corporations (TNCs) to expand. TNCs, trying to develop new markets, created large companies in different countries, numerous branches, subsidiaries, thereby developing and strengthening external economic relations;
- scientific and technical development of means of communication and information exchange. The ability to quickly exchange information makes a country's economy more open to economic interaction with other countries.

Introduction........................................................ ........................................................ .. 3

1. The concept of an open economy

1.1 The essence of an open economy.................................................... ............ 5

1.2 Main features of an open economy.................................................... 91.3 Main indicators openness of the country's economy...................... 12

1.4 Consequences of economic openness for the country and problems of national economic security.................................................... ............................. 15

2. Open economy in Russia

2.1 Open economy policy in Russia.................................................... 19

2.2 Assessment of the main features and indicators of economic openness

in Russia................................................ ........................................................ .... 23

2.3 Prospects for the development of Russia in an open economy..... 35

Conclusion................................................. ................................................... 37List of used literature........................................................ .......... 40

Introduction

"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 contradiction between high efficiency and dynamism, on the one hand, and security and stability, on the other, is in principle insoluble for small countries; for large countries (USA, China, Russia, and, to a lesser extent, Germany and Japan), this problem is solvable.

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 - Main indicators of an open economy

Consequences of an open economy and problems of national

economic security

Open economy policy in Russia

Assessment of the main features and indicators of an open economy

Prospects for Russia's development in an open economy

Chapter 1. The concept of an open economy

1.1 The essence of an open economy

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.

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.

The development of an autarkic economy is determined exclusively by the internal trends of its development and does not actually depend on the trends taking place in the world economy, since a closed economy is an economy of self-sufficiency relying on one’s own strength in its extreme manifestations.

The openness of the economy should be understood as the antipode of the autarkic economy, that is, such a state of the national economy, which is characterized by the most complete use of various forms of world economic relations (the country’s active participation not only in international trade, but also in the movement of factors of production - labor and capital, and should also there is an interchange of national currencies.)

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.

As a rule, small industrialized countries have a particularly high degree of openness. It is 55 - 70% in countries such as Holland, Belgium, Australia; decreases somewhat and fluctuates around 40 - 45% for such medium-sized (in terms of population) states as France, Italy, Great Britain and, finally, for major world powers, regardless of the level of their industrial development, it does not yet exceed 20% (USA, Russia, China, India).

The openness of the national economy is linked to the concepts of “reciprocity” and “vulnerability”. “Reciprocity” presupposes overcoming emerging imbalances and disequilibria. An example would be

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.

1.2 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. 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. Providing legal and economic guarantees for 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. Elimination of the monopoly of foreign trade in 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. Convergence of domestic economic law with international law.

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

9. 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.

10. 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:

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 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:

1. 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.

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

1.3 Main indicators of the openness of the country’s economy

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

1. export quota

2. import quota

3. foreign trade quota

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

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%.

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 cost of imports (I) to the value of GDP: Ki = I/GDP*100%.

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.

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.

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:

1. Relatively closed, with a quota<10%

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

3. 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.

1.4 Consequences of economic openness for the country and problems of national economic security

The consequences of economic openness for a country can be both positive and negative.

Advantages of an open economy:

1. The total amount of resources available to the country changes, while resources are more rationally distributed and used more efficiently.

2. Specialization and cooperation of production are developing.

3. Additional benefits arise due to an increase in the scale of production and its more rational organization.

4. Competition in the domestic market is increasing, which leads to lower production costs and improved product quality. We were guided by the fact that a small part of the enterprises may become leaders in this industry, and some will go bankrupt - but this is a normal process, because Enterprises are constantly being formed and going bankrupt.

5. There is an opportunity to borrow advanced technology, equipment, information, management skills, etc. Positive foreign experience in all its manifestations is becoming more accessible.

Negative consequences of economic openness:

1. Exposure to the influence of global financial and economic crises, changes in the conditions of world commodity markets is increasing and, in a certain sense, the likelihood of risk of instability of the national economy is increasing.

2. In a number of cases, foreign competition leads to the destruction of individual industries and even entire sectors of the domestic economy.

3. The dependence of the national economy on imports is increasing, and imports here are in the broadest sense (goods, capital, technology). There are strategically important industries where foreign capital should not be allowed, as well as strategically important goods that need to be controlled. If imports exceed 30%, then this is a signal that the situation in certain groups of goods needs to be corrected.

It is clear that the openness of the national economy leads in any case to increased interdependence of national economies, which is an objective factor. Interdependence can lead to economic dependence. Economic dependence represents such cause-and-effect relationships in which external factors have a significant negative impact on the development of a particular situation in the country.

Dependency occurs when appropriate changes in the form of adaptation are required to solve any problem.

Adaptation in this context means the ability of the state to influence a negative situation caused by external factors in such a way that:

1. Either eliminate the external cause

2. Either eliminate the consequences

3. Either shift the costs of adaptation to other countries

Often, when choosing a solution between the first and second, one must proceed from a specific situation. The reason still needs to be sought.

Among the adaptation measures are the following:

1. Diversification of trade relations

2. Formation and development of export industries

3. Saving resources and creating reserves

4. Strengthening and developing multifaceted cooperation with other countries

5. Military and economic pressure

Diversification is especially important in strategically important products.

Formation and development of export industries. They must satisfy domestic demand at a qualitative level, foreign exchange earnings increase, due to which it is possible to diversify existing trade relations.

Saving resources: the example of the USA and oil.

Military and economic pressure: a tied loan is a targeted loan with the condition that the necessary goods will be purchased from the country that provided the loan.

Addiction comes in two forms:

1. In economic sensitivity

2. Economic vulnerability

Economic sensitivity refers to the exposure of the national economy to the negative impact of external factors until a certain adaptation to a given situation is made in order to eliminate its unfavorable consequences.

A higher degree of dependence is economic vulnerability, which is understood as the inevitability of incurring excessive adjustment costs under the influence of external factors, even after adjustment or a fundamental change in the internal situation.

Economic vulnerability occurs when a critical threshold of adjustment costs has been passed. It is economic vulnerability that creates the problem of economic security, although this is not yet enough. A sufficient condition for a violation of economic security is a threat.

A threat is a significant restriction of access to various types of resources necessary for the normal functioning of the economy. There are 2 types of threats:

1. Threat of force

2. Threat to economic well-being

Both types of threat come from deliberate actions of the state, as well as trends in the development of the global economy.

Threat tools are:

1. Economic blockade

2. Embargo

3. Various discrimination methods (linking systems)

National economic security can be defined as a situation in which the supply of goods, services, and resources in a given country is protected from the action of external factors perceived as a threat to the effective functioning of the national economy.

The first chapter examined the concept of an open economy, its main features and indicators. As well as the consequences of an open economy and problems of national economic security.

2. Open economy in Russia

2.1 Open economy policy in Russia

The Russian Federation is the largest economy in the world. In terms of GDP, Russia is one of the ten largest industrialized countries in the world. In addition, the Russian Federation is the largest exporter in the world (in the first quarter of 2008 - 109.7 billion dollars (152.8%)). But despite the sufficient differentiation of industry, the economic focus of exports is mainly the sale and export of raw materials.

According to the degree of structural and institutional openness of the economy, the constituent entities of the Russian Federation can be divided into three main types:

1. central,

2. seaside (border),

3. pro-export.

The central type is observed in 8 regions with powerful economic, scientific and technical potential, with cities with a population of one million as regional centers that have a zone of market and cultural gravity that greatly exceeds the region itself: Moscow and the Moscow region, St. Petersburg and Leningrad region, Nizhny Novgorod, Samara and Sverdlovsk regions, Tatarstan. These regions are characterized by diverse and large-scale foreign economic relations, highly diversified in geographical areas and subject content. These are the regions with the most favorable business climate. Moscow stands out sharply among them. In 2007, $11.3 billion of Russian exports passed through capital enterprises and organizations (in 2006 - $11.0 billion, in 2005 - 13.3 billion). Regions classified as this type account for more than 50% of foreign trade turnover and about 70% of accumulated direct

foreign investment.

The coastal (border) type of openness (8 regions) is distinguished by high relative indicators of openness, but a relatively narrow range of foreign economic activity with a large share of neighboring countries in it. The share of services in foreign trade is high. Imports usually exceed exports. These are large centers of cross-border trade through which significant volumes of foreign currency are exported. They are widely involved in cross-border and subregional cooperation. This type of openness is most clearly represented in the Far Eastern regions: Primorsky and Khabarovsk territories, Sakhalin and Magadan regions, as well as in the European part of Russia in Karelia, Kaliningrad and Rostov regions, Krasnodar region. They account for about 8% of the country's foreign trade turnover and more than 12% of accumulated foreign direct investment.

Pro-export openness (14 regions) is associated with large-scale export production, which makes it attractive to foreign investors and lenders. Regions of this type are characterized by large absolute volumes of exports and, due to this, high relative indicators of foreign trade openness. They provide most of the country's foreign exchange earnings. This type of openness is observed in the Tyumen region with the Khanty-Mansi and Yamalo-Nenets Autonomous Okrug, Bashkiria, Vologda, Irkutsk, Kemerovo, Lipetsk, Orenburg, Perm, Chelyabinsk regions, the Krasnoyarsk Territory with the Taimyr Autonomous Okrug, and the Murmansk region. They provide more than 30% of the country's foreign trade turnover and approximately 17% of accumulated foreign direct investment.

This group differs from introverted regions, whose economies are focused primarily on the domestic market. They have limited foreign trade relations and are unattractive to foreign investors.

There are 38 regions in Russia, the economy of which remains closed due to its structural and institutional characteristics: regions and republics of the Central, Volga-Vyatka, Volga regions, North Caucasus republics, South Siberian regions and republics, most autonomous okrugs.

The remaining subjects of the Federation (21 regions) are characterized by limited openness and belong to the transitional type.

Regions of the cross-border type of openness are located in places where the structure-forming transport communications of Russia meet with international maritime communications, and in places of extended proximity to foreign countries.

Regions with a pro-export type of openness occupy a vast Eurasian space from the European North to Eastern Siberia, located at a considerable distance from external markets.

Introverted regions occupy a vast belt stretching from the Amur Region to the Altai Territory along the border with China and Mongolia, a significant part of the North Caucasus and the Lower Volga region, and most regions in the European part of Russia adjacent to regions with a central type of openness.

In the regional structure of openness of the Russian economy, large cities occupy a special place, performing the functions of administrative and political centers. As a rule, the majority of all enterprises with foreign participation located in the region operate there; foreign trade functions, attracted foreign loans, servicing and related activities are concentrated. At the same time, most of the peripheral territories are practically outside the processes of economic globalization.

In Table 1, we consider the gross regional product by constituent entities of the Russian Federation in (2003-2006)

Table 1

Gross regional product by constituent entities of the Russian Federation in (2003-2006)
(in current basic prices; million rubles)

2003	2004	2005	2006
Central federal district				7 849 633.7
Northwestern federal district
Southern federal district		1 042 457.6		1 611 037.4
Privolzhsky federal district		2 284 895.8	2 799 035.9
Ural federal district
Siberian federal district		1 631 782.5
Far Eastern federal district		678 448.4	826 421.7	980 959.3

Having examined this table, it is clear that the Moscow region stands out sharply in terms of the degree of openness, performing the functions of a foreign economic intermediary for the entire country.

2.2 Assessment of the main features and indicators of economic openness in Russia

The most socially, economically and politically significant result of the opening of the Russian economy has been the growth of interregional polarization. This is one of the patterns of market transformation, reflecting the emergence of territories that gain and lose from reforms. The polarization of Russian regions can be interpreted as a compression of space in which there are favorable conditions for entrepreneurial activity.

The basis for the exact growth of trade is the raw materials sectors of Russian industry. First of all, these are the oil sectors, non-ferrous and ferrous metallurgy. These “whales” of the domestic industry collectively provide up to 70% of the country’s foreign exchange earnings. Their share in the global commodity market is constantly increasing. Moreover, growth and sales are taking place in fierce competition. The Russian oil industry competes with OPEC countries.

In 2006, Russia's GDP amounted to more than 1.7 trillion. dollars. Although the world produced goods and services worth more than 55 trillion this year. dollars, of which the USA accounted for about 12.4 trillion, China – 5.3 trillion. dollars, Japan – 3.9 trillion. dollars, India - 2.5 trillion. dollars The Russian Federation is not the most active participant in the world market, moreover, its role is reduced to a raw materials country. Moreover, as practice shows, in harsh climates and vast distances, the competitive advantages of our companies can be destroyed under the pressure of rivals.

But among the CIS countries, the largest GDP per capita is in Russia - $11,861, or 28.5% of the US level. According to this indicator, Russia ranks 51st in the world. In Kazakhstan, this figure was $8,699 (62nd place in the world), in Belarus - $8,541 (65th place in the world). The poorest CIS country is Tajikistan - $1,413 (119th place in the world). The average GDP per capita in the CIS was $9,202. Among the CIS countries, this level is exceeded only by Russia, which accounts for almost three quarters of the total GDP of the CIS countries.

In Figure 1 we consider the dynamics of GDP production.

Picture 1

From this figure we can say that the total GDP is growing every year.

Main trading partners of the Russian Federation (foreign trade turnover in 2005 according to the State Customs Committee of the Russian Federation): CIS countries - $34.1 billion, Germany - $18.5 billion, China - $11.7 billion, Italy - $10.9 billion, Netherlands – $10 billion, USA – $7.1 billion, Poland – $6.3 billion, Switzerland – $6.3 billion, UK – 6, $3 billion, Finland – $6.2 billion, France – $5.8 billion, Turkey – $5.7 billion.

In the first quarter of 2008 Russia's foreign trade turnover amounted, according to the Bank of Russia, to 169.5 billion dollars (148.0% compared to the first quarter of 2007), including exports - 109.7 billion dollars (152.8%), imports - 59. 8 billion dollars (139.8%). The trade balance remained positive at $49.9 billion (in the first quarter of 2007 - $29.0 billion). Compared to 2007, it increased by 25% - 169.5 billion dollars. At the same time, exports also increased - to 109.7 billion dollars (by 25.3%), imports - to 59.8 billion. dollars (by 24.3%). All these figures indicate that the Russian Federation’s share in global trade turnover is steadily growing. In addition, the state has been able to trade with a huge surplus for several years now - more than $50 billion.

In Figure 2, we consider the dynamics of exports and imports of the Russian Federation.

Figure 2

Russia, resorting to foreign loans, is one of the world's largest exporters of capital. According to the Russian Business Round Table, the total volume of resources located abroad, including exported and invested capital, foreign debts amount to a huge amount - from 500 to 600 billion dollars. At the same time, the “export of capital”, which began in the late 80s , continues.

Thousands of companies with Russian capital operate abroad.

According to some estimates, the volume of investments of these Russian enterprises abroad amounts to 9 - 10 billion dollars. For comparison, for example, similar US investments are approaching 1 trillion. dollars, and in Japan and Great Britain they amount to several hundred billion dollars.

Russian foreign business investments are located primarily in the West, including in offshore centers and tax havens. Foreign capital investments of Russian individuals and legal entities in the form of loans are also predominantly located there (i.e. bank deposits, funds in the accounts of other financial institutions, etc.). Some of them are stationed there for a short period of time to carry out current foreign economic operations. Their value is estimated at 25 - 35 billion dollars.

The volume of investments from Russia accumulated abroad at the end of March 2008. amounted to 38.3 billion dollars. In the first quarter of 2008 7.3 billion dollars of foreign investment was sent from Russia abroad, or 38.0% less than in the first quarter of 2007.

The volume of repaid investments previously sent abroad from Russia amounted to $6.3 billion, or 54.8% less than in the first quarter of 2007.

In Table 2, we consider the volume of Russian investments accumulated abroad.

table 2

Volume of Russian investments accumulated abroad

The export of capital from Russia is carried out in two ways: legally and illegally, taking the form of “capital flight”.

The legal method of exporting capital is based on a decree of the Russian government.

Legal methods of capital export include the growth of foreign assets of Russian authorized banks.

The bulk of private capital is exported from Russia as part of the so-called “capital flight”. In order to imagine what losses Russia is suffering as a result of this process, we can cite the following figures: the annual flight of capital is estimated at 12 - 24 billion dollars (according to some estimates, up to 50 billion dollars).

Capital flight is typical for countries with galloping inflation, high taxes and political instability. All this is typical for Russia. To these reasons we can add factors of distrust in the state, lack of benefits and incentives for storing and investing capital within the country. The Russian government is trying to limit and take control of the process of capital flight abroad, to turn it into an analyzed, controlled export of capital. It also prevents understatement of export and inflation of import prices, especially actively used in barter transactions, and the making of advance payments under import contracts without subsequent delivery of goods and crediting of currency to foreign accounts of Russian residents

Limiting the process of “capital flight” can be carried out by applying the following specific measures:

1. unified customs and currency control over the repatriation of proceeds from the export and import of goods and services; special control over barter transactions;

2. licensing of capital export;

3. inventory of Russian investments abroad, ascertaining the actual number of enterprises and volumes of capital investments.

The importance of administrative measures cannot be exaggerated, since the driving force behind the activities of enterprises abroad is economic interest, and it is this that determines the direction and nature of the movement of capital. A strategic measure to reduce “capital flight” abroad should be the creation of an investment climate in Russia that would be attractive both for domestic Russian capital and for foreign investments seeking profitable use.

Against the backdrop of political stability, as well as thanks to the unusually favorable market conditions that have developed on the foreign market for the main items of Russian exports, i.e. for raw materials, it became possible to stabilize the economic situation, which is necessary for further reforms in the field of socio-economic policy aimed at the further integration of Russia into the world community.

The dynamics of macroeconomic indicators that emerged in 2003 testify to the adequacy of monetary policy, facilitating the achievement of the planned level of inflation with the fullest realization of the potential for economic growth. Official gold and foreign exchange reserves have more than doubled and fully provide the monetary base, capital outflow has been reduced, the stability of the national currency has been maintained, and real interest rates have been declining.

The share of payments in cash began to increase, and the growth of non-payments slowed down. The reduction in barter and other non-market forms of exchange has contributed to a decline in the general price level, since the prices of goods sold for money are estimated to be approximately 25-30% lower than the prices of barter transactions.

This macroeconomic situation should be used to intensify structural reforms in the real sector, which can ensure long-term economic growth. In addition, this will strengthen the role of banks and other financial institutions in realizing the possibility of non-inflationary economic growth.

The dependence of the dynamics of the stock market to a greater extent on the situation in the US stock markets than on the state of the Russian economy, the storage of household savings in the form of cash currency, the stagnation of the influx of foreign direct investment and the high outflow of capital indicate that the majority of potential investors continue to have distrust in the policies of the Russian government and low assessment of the attractiveness of investments in the Russian economy.

There has not yet been a reversal of the trend, and the impressive growth in investment is not commensurate with the scale of the investment decline over the past decade.

A very important component of the investment climate is the tax regime. Russia still maintains a very complex and difficult taxation system.

According to foreign entrepreneurs, the attitude of the Russian authorities towards foreign investments is declaratively extremely favorable, but in fact, incentives and guarantees for foreign investments do not satisfy the interests of foreign investors.

Foreign capital in Russia is present in both state and private form, in a mixed form, as well as in the form of capital of international organizations.

As of the end of March 2008 accumulated foreign capital in the Russian economy amounted to $221.0 billion, which is 45.9% more than the corresponding period of the previous year. The largest share in accumulated foreign capital was accounted for by other investments carried out on a repayable basis (loans from international financial organizations, trade loans, etc.) - 48.8% (at the end of March 2007 - 50.0%), the share of direct ones - 48 .2% (48.2%), portfolio - 3.0% (1.8%).

Main investor countries in the first quarter of 2008 - Cyprus, Netherlands, United Kingdom (UK), Germany, Switzerland, USA, France, Ireland. These countries accounted for 71.2% of the total volume of accumulated foreign investment, 84.3% of the total volume of accumulated foreign direct investment.

In the first quarter of 2008 The Russian economy received $17.3 billion of foreign investment, which is 29.9% less than in the first quarter of 2007.

The classification of foreign investment flows used in international practice is used by Russia when compiling the balance of payments.

In March 2008, according to estimates, 511.8 billion rubles of investment in fixed capital were used, in the first quarter of 2008. - 1295.9 billion rubles, compared to the corresponding period of the previous year, the volume of investments in the first quarter and in March increased by 20.2%.

In Figure 3, we consider the dynamics of investment in fixed capital.

Figure 3

One of the popular forms of attracting direct investment into the Russian economy is the creation of enterprises with foreign investment (FDI).

As for large foreign investments, there are practically none in Russia. It is problematic for the situation to change significantly in the coming years.

A significant part of Russia's external debt (more than $100 billion) came from the former USSR, since the Russian government assumed the corresponding obligations.

In Table 4 we consider the structure of the government external debt of the Russian Federation .

Table 4

Structure of the state external debt of the Russian Federation .

(at the beginning of the year; billion US dollars)

2003	2004	2005	2006	2007
Public external debt (including obligations of the former USSR assumed by the Russian Federation)	122,1	119,1	114,1	76,5	52,0
including:
debt to countries participating in the Paris Club	44,7	47,6	47,5	25,2	3,1
debt to countries not included in the Paris Club	7,7	7,0	6,4	5,7	5,2
commercial debt	3,4	3,3	2,2	1,1	0,8
debt to international financial organizations	13,9	11,7	9,7	5,7	5,5
Eurobond loans	36,9	35,6	35,3	31,5	31,9
domestic government foreign currency loan bonds (OVGVZ)	9,3	7,3	7,1	7,1	4,9
debt on Vnesheconombank loans provided at the expense of the Bank of Russia	6,2	6,2	5,5	-	-
provision of guarantees to the Russian Federation in foreign currency	-	0,4	0,4	0,3	0,6

Most of Russia's external debt, depending on the nature of its origin, can be divided into three groups: loans from the Paris, London and Tokyo clubs. Their total debt without interest is about $80 billion.

The general picture of Russia's debt to three international financial debt clubs is presented in Figure 4.

Figure 4.

The devaluation of the ruble in 1998 and the good foreign economic situation made it possible for Russia to accumulate a sufficient margin of safety. In 2001, the foreign trade balance began to decline, but economic growth within the country began to attract capital previously intended for export, and as a result, gold and foreign exchange reserves continued to grow due to a decrease in capital flight abroad.

Moreover, in 2005-2006. Russian trade debts demonstrate high liquidity: in particular, in 2006 the annual income on them was about 30%. The popularity of Russian debts at this stage is also facilitated by the redistribution of international capital flows in favor of Russia due to the worsening economic situation in Argentina and Turkey.

Let's consider the main indicators of the openness of the Russian economy.

Russia's export quota is equal to: Ke=0.333

Russia's import quota is equal to: Ki=0.181

Russia's foreign trade quota is equal to: Kv=0.257

All these indicators were calculated using the formulas discussed in the first chapter.

These indicators show that the country's foreign trade relations are not so developed that the country could be classified as an open economy.

Therefore, Russia is classified as a country with a moderately open economy.

2.3 Prospects for the development of Russia's open economy

One of the most important tasks is to increase the openness of the Russian economy. It is being addressed in several directions. This is, first of all, Russia's entry into influential economic organizations - the WTO and the OECD. In the near future, it is planned to complete work to bring Russian legislation into compliance with the norms and rules of the WTO.

The Customs Code of Russia was adopted, which complies with the norms and rules of the WTO. And although much remains to be done in this direction, including in such an important area as the protection of intellectual property rights, there is every reason to believe that the Russian economy today is no more closed or subsidized than the economies of many countries that have long been members of the WTO .

Based on this, estimates of the timing of Russia's accession to the WTO seem quite optimistic. If some non-standard, sometimes slightly politicized requirements for Russia are removed as part of its accession to the WTO, Russia can become a member of this organization in the shortest possible time.

The ongoing work on the fundamental modernization of the financial reporting system and the introduction of IFRS in Russia is also intended to contribute to increasing the openness of the Russian economy and the transparency of Russian enterprises.

The application of International Financial Reporting Standards is important, first of all, because it facilitates the integration of the national financial market into the international capital market through the use of a generally accepted language for preparing financial statements, and has a positive impact on the quality of corporate governance and the investment attractiveness of companies.

Closely related to the problem of openness of the Russian economy are issues of Russia's investment image, which in today's conditions are of particular importance.

Russia's open economy today presents many more opportunities for development. At the same time, it does not allow us to move in all directions on a broad front, but forces us to make rational choices based on an analysis of comparative advantages. The key factors demonstrating a country's potential in the context of globalization are human, industrial and natural potential.

So, using human potential, Russia can become one of the world's intellectual centers. The second key advantage of Russia is the availability of raw materials. According to experts, at the beginning of the third millennium, in terms of proven reserves in the world, Russia accounted for 65% of all apatite reserves, 35% of gas, 14% of uranium, 13% of all oil reserves. At the same time, Russia, without reducing energy exports, is going to pay more attention to the processing of raw materials.

In the coming years, Russia will have to reverse the negative trends in competition for foreign capital, which could participate in the revival of the Russian economy at a new technological level. Serious work is needed to create conditions for competition with already established areas for effectively attracting foreign investment.

Conclusion

In this course work, I examined the open economy, its features and indicators. She also examined the policy of an open economy in Russia and assessed the main features and indicators of an open economy in Russia.

According to Marshall Pomer, in assessing the degree of openness of the economy, three factors should be taken into account, which have ambiguous consequences:

1. Of course, moving to an open economy to international competition means creating a viable market. The openness of the economy makes it possible to create market discipline and leads to competition - the source of the living environment of a dynamic market system.

Moreover, if the economy is open, then the government's role in restricting the flow of goods and capital is reduced, thereby reducing the possibility of corruption and abuse, and limiting the vulnerability caused by incompetence. One of the ways to destroy the fraudulent schemes of corrupt insiders is to allow foreign competition.

2. An open economy is attractive because it facilitates changes in the political and social spheres. First of all, an open economy is a continuation of the policy of glasnost. To be open is to be free, and this encourages commitment to this policy. It is important that preferences are formed on the basis of favorable results, and not attractive words. In particular, they require an urgent practical solution to the problem of overcoming poverty and increasing economic growth.

It is generally accepted that the West supports open economies, and it is in this case that Western investors are willing to invest in Russia. The view (supported by foreigners) that economic growth in Russia will begin thanks to the generosity of foreign investors is an illusion. Of course, an influx of foreign investment and technology is important, but it cannot be obtained by simply being nice to foreigners. This is confirmed by the experience of China, where huge amounts of foreign capital operate. The point is not a priori good attitude towards foreign capital, but to make it clear to foreign investors that their real activities generate favorable assessments in the country.

Attracting foreign investment to Russia is the second step, and the first is to make the economy functioning properly and attractive for foreign investment.

The opening of the economy expands the consumer choice of the population and thereby improves living standards in the short term. A wide variety of foreign-made consumer goods on the domestic market enriches the supply and diversifies needs. However, satisfying them in the short term is unnecessarily expensive if it impedes long-term economic development.

3. A realistic assessment of the economic situation in Russia predetermines that the transition to an open economy can only be gradual. This is convincingly confirmed by two facts.

Firstly, in the 90s, Russian-made goods were largely replaced by imported ones.

Secondly, after a sharp devaluation in the summer of 1998, significant economic growth began in Russia for the first time since the beginning of the transition period. The devaluation was tantamount to a partial shutdown of the Russian economy. Imports from Western countries fell sharply. It is interesting to note that at the same time, the share of imports from other post-socialist countries also increased.

The imprudent openness of the Russian economy has also led to significant losses as a result of the flight of capital from the country, which is associated with the criminalization of the Russian economy. To monitor illegal economic activities, it is necessary to introduce restrictions on the outflow of capital. Potentially destabilizing short-term capital inflows pose a serious threat. The sudden outflow of short-term investment was a significant cause of the financial crisis of 1998. These problems associated with economic openness have been overcome to some extent in recent years. The unusually high level of imports was reduced as a result of devaluation. The problem of capital flight has been mitigated somewhat as fear of devaluation is now largely absent. The vulnerability of the economy associated with the influx of short-term capital has been mitigated since, after 1998, the influx of short-term Western investment into Russia ceased. In the future, as a result of the likely real increase in the value of the ruble, all these problems will be exacerbated, so they should not be underestimated.

The modern ideology holding back the development of the Russian economy today comes from neoliberals, who insist on complete openness of the economy to international trade and capital flows. Of course, this thesis is very attractive, but it is not adequate to the modern situation. The openness of the Russian economy is a long-term goal, which must be achieved gradually.

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1 The concept of the modern world economy. Subjects of the world economy of the 21st century World economy is a set of national economies and economic relationships between them, or a set of production relations operating at the national and international levels. Structure: 1. International division of labor, 2. International trade in goods and services, 3. International movement of capital and foreign investment, 4. Int. division of labor, 5. Int. monetary, financial and credit relations, 6. Int. economy integration.

The world economy is a complex, self-organizing system that is in constant disequilibrium. It lacks rigid connections and is dominated by constant variability, but it strives for balance. The global economy as a self-organizing system has a mechanism for maintaining internal balance and the ability for self-development.

The main organizing force of the world economy is the constantly growing world market, which is a combination of domestic, foreign and international markets.

The central link of the market is competition, which promotes the identification, dissemination and effective use of new, hitherto inaccessible data on preferences, means, and technologies. It involves great damage for some and gain for others.

The structure of the mechanism of the world economy includes agents at the bilateral and multilateral, regional and global, private and international levels. These are states, integration associations, TNCs and TNBs, international cartels, interstate organizations, unions of entrepreneurs.

The modern world economy is a single global economic system, including national states, transnational capital (transnational corporations and banks), as well as large cities and metropolitan areas, blocs of countries, international organizations, offshore companies and individual transnational businessmen. Subjects of the world economy. Subjects of the world economy are economic units that have the necessary capital, are capable of organizing production activities in the international economic space and have certain international rights and responsibilities. State- the main subject of the world economy. The state is a form of political and economic organization of society, reflecting the interests of the ruling class and population group.

The national economy usually represents a branched, balanced complex, therefore the state must protect the proportionality of the economy, preserve or re-create structure-forming industries, ensure their protection from destructive external influences, help improve the structure of the economy and increase its efficiency.

Transnational companies(TNCs) occupy a special place in the world economy, exerting a diverse influence on its functioning and on the position of other economic entities and subsystems.

International economic organizations. International economic organizations are among the important subjects of the world economy. The International Monetary Fund and the International Bank for Reconstruction and Development are of greatest importance as carriers of international economic activity. The latter, together with the subsidiaries it created (International Finance Corporation (IFC), International Development Association (MAP), etc.) forms the World Bank (WB) group, or the World Bank.

Regional economic integration groupings. Participants in the world economy are regional integration associations. There are over 20 of them. They are interstate economic entities whose goal is the gradual unification of their economies through rapprochement and changes in economic mechanisms, primarily in the foreign economic sphere.

Regional integration associations will include territorially close countries with approximately the same level of socio-economic development. Almost all of them are at the lower levels of economic unity. Real progress towards the unification of national economies is taking place in Western Europe, where an economic community is emerging in the form of the European Union (EU), and in North America (NAFTA).

2Open economy, indicators of the degree of openness of the economy.

Open economy- 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. An open economy means that countries actively participate in MRI, export and import a significant share of manufactured goods and services, export factors of production (labor, capital, technology) and are free to import them, countries also receive and provide loans on world financial markets and are included into the system of international financial and economic relations. 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. 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.

Key indicators:

Export quota (Ec):

Ek = E: GDP ·100%,

where E is the value of exports for a certain period;

GDP is the value of gross domestic product for a certain period.

Western European countries demonstrate a significant degree of openness. Some developing countries have even higher indicators, however, unlike developed countries, the economies of these countries depend almost entirely on the export of raw materials. On the other hand, the most powerful states have a low export quota: the USA - 7%, Japan - 12%. But this does not indicate a low degree of integration of these countries into the world economy, but rather a large volume of GDP and the presence of a wide domestic market.

Import quota (IQ):

Ik = I: GDP ·100%,

where I is the cost of imports for a certain period.

The combination of export and import quotas gives an idea of the scale of the connection between individual national economies and the world economy.

Share of imports in national consumption (Di):

Di = I: (GDP + I – E) 100%,

Foreign trade quota (VTk):

VTk = volume of foreign trade turnover (WTO): GDP ·100%, WTO = E + I,

Foreign trade turnover per capita (WTOn/d):

VTOn/d = VTO: population size,

International capital flow indicator (FII/d):

volume of foreign direct investment (FDI) n/a = FDI: Chn,

3Factors influencing the degree of openness of the economy.

Factors influencing the degree of openness of the economy:

Annual GDP value

Degree of country participation in international production cooperation

Level of economic development of the country;

Degree of internationalization of the country

public policy

Structure of social production;

Resource provision;

Capacity of the domestic market.

The state played a significant role in the formation of an open economy. It took on the functions of stimulating export production, encouraging the export of goods and services, promoting cooperation with foreign companies, and the development of foreign economic relations. A legal framework was created that facilitated the influx of foreign investment, technology, labor, and information.

The transition of countries to increasingly open economies has been accelerated by the actions of transnational corporations (TNCs). In an effort to develop new markets, creating numerous branches and subsidiaries in different countries, TNCs bypassed the protectionist barriers of foreign countries, internationalizing international economic exchange.

Noticeable progress in the second half of the 20th century. transport and information communications also played a huge stimulating role in the development of openness of national economies and increased population mobility. Gradually, step by step, trade, economic, monetary and financial barriers, due to which countries had been fenced off from each other for a long time, were destroyed. The liberalization of international exchange has facilitated the adaptation of national economies to external conditions and influences and contributed to their increasingly active inclusion in the international division of labor.

Since the 60s processes of openness are beginning to spread to a number of developing countries. Since the beginning of the 80s. China declares its commitment to the policy of openness. The term “openness” has entered the dictionaries of many countries around the world, for example in Arabic - “infitah”, Chinese - “kaifan”.

4The main stages of development of the world economy.

The modern world economy arose after the industrial revolution, during the development of capitalism into monopoly capitalism.

Stage number	Duration	Characteristic
	XV-XVII centuries AD	The emergence of the world capitalist market: - great geographical discoveries, - the emergence of colonies, - the price revolution, - the manufacturing period
	XVIII-XIX centuries AD	The formation of the world capitalist market, the emergence and development of the global division of labor: - industrial revolution, - bourgeois revolutions, - transition from the manufacturing to the factory system
	The end of the 19th – the first half of the 20th century AD.	Formation of a system of global division of labor and, on this basis, a world economy: - electrical revolution, - internal combustion engines, - economic division of the world, - transition to monopoly capitalism
	Since the 50s XX century until now	The functioning of the system of global division of labor, the strengthening of the interdependence of the economies of all countries: - scientific and technological revolution, - processes of internationalization and integration

5Theories of world trade. A. Smith's theory of absolute advantage.

A. Smith clearly formulated that the welfare of nations depends not so much on the amount of gold they accumulate, but on their ability to produce final goods and services. Therefore, the main task is not to acquire gold, but to develop production through the division of labor and its cooperation. This can best be achieved in conditions where producers are absolutely economically free and can independently choose their type of activity within the framework of existing laws.

In accordance with the views of A. Smith:

Governments should not interfere in foreign trade, maintain open markets and free trade;

Nations, as well as individuals, must specialize in the production of those goods in which they have an advantage, and trade them in exchange for goods in which other nations have an advantage;

Foreign trade stimulates the development of labor productivity by expanding the market beyond national borders;

Export is a positive factor for the country's economy, because it provides sales of surplus products that cannot be sold on the domestic market;

Export subsidies are a tax on the population and lead to higher domestic prices and should therefore be abolished. The theory of absolute advantage - countries export those goods that they produce at lower costs (in which they have an absolute advantage in producing) and import those goods that other countries produce at lower costs (in which their trading partners have an advantage in producing).

A. Smith attached great importance to foreign trade. According to Smith's theory of absolute advantage, a country should buy those goods that other countries offer at a cheaper price than it can produce itself. In exchange one should offer some portion of the product of one's own industrial labor, exerted in a field in which one has some advantage. Thus, according to Smith, when determining the international specialization of a country, i.e. What to produce and what to sell abroad, you should choose those goods that a given country makes cheaper than others.

6Theories of world trade. Theory of comparative advantage D. Ricardo.

David Ricardo was a supporter of free trade and attached great importance to the development of trade relations with other countries. Developing Smith's ideas, Ricardo proved that any country can participate profitably in foreign trade, and not just countries with absolute advantages. Even if a country does not have absolute advantages, it always has comparative advantages, i.e. there is always something she does better and cheaper than everything else. According to Ricardo's theory, each country should produce and export goods at relatively lower costs, although they may be higher than in other countries.