scholarly journals The Digital Economy of BRICS: Prospects for Multilateral Cooperation

2020 ◽  
Vol 15 (1) ◽  
pp. 31-62
Author(s):  
Aleksandr Ignatov ◽  
Keyword(s):  
International Development ◽  
Global Governance ◽  
Digital Economy ◽  
Information And Communications Technology ◽  
The European Union ◽  
International Telecommunication Union ◽  
Brics Countries ◽  
The World ◽  
Digital Development ◽  
Further Development

The growth of the digital economy has become the most significant trend in global development. The digital economy creates new impetuses for economic growth, but at the same time it deepens global inequality and impacts the growth of countries of the global South. The role of global governance institutions such as the BRICS grouping of Brazil, Russia, India, China and South Africa — the main representative of developing countries in global governance — in the promotion of digital growth has not yet been fully explored. There is also some ambiguity concerning the development level of the digital economy in particular countries. In the context of Russia’s third BRICS presidency in 2020, issues of digital development in BRICS have become particularly relevant. The author analyzes current indicators of digital development in the BRICS countries, drawing on several existing methodologies, ratings, and decisions made by BRICS on issues of digital growth and levels of compliance, and makes recommendations for the further development of BRICS’ digital agenda. According to data provided by the Organisation for Economic Co-operation and Development (OECD), the International Telecommunication Union (ITU), the World Bank, the World Economic Forum (WEF), the European Union (EU) and the International Development Institute (IDI), the BRICS countries differ in terms of the maturity of their digital economies. They are characterized by a relatively low quality and affordability of digital infrastructure; additionally, the penetration of information and communications technology (ICT) into business and daily activities in BRICS countries lags behind the world leaders, and data on the quality and efficiency of regulatory and innovative frameworks in the BRICS countries is insufficient. However, decisions made by BRICS on matters of digital growth are followed with a high-average level of compliance. Thus, recommendations for the further development of BRICS’ digital agenda are strategic in nature. The author defines three promising areas of cooperation on digital matters during Russia’s 2020 BRICS presidency: facilitation of dialog and exchange of best practices supporting digital growth; development of a common BRICS standard offor the production of digital goods and services and; promotion of a common BRICS position on cybersecurity issues

scholarly journals Emerging Regulation for the Digital Economy: Challenges and Opportunities for Multilateral Global Governance

2021 ◽  
Vol 16 (1) ◽  
pp. 29-63
Author(s):  
Marina Larionova ◽  
◽  
Andrei Shelepov ◽  
◽  
Keyword(s):  
Developing Countries ◽  
High Speed ◽  
International Institutions ◽  
Balance Of Power ◽  
Digital Economy ◽  
Information And Communications Technology ◽  
Regulatory Mechanisms ◽  
The European Union ◽  
Governance System ◽  
International Telecommunication Union

The role of information and communications technology (ICT), high-speed communication infrastructure, digital content and the digital economy is expected to grow in the post-pandemic society. Simultaneously, competition for digital technologies and solutions and the contest to influence norms, standards and regulatory mechanisms is escalating. The new regulatory mechanisms and approaches are concurrently being shaped in the key international institutions, including the United Nations (UN), the International Telecommunication Union (ITU), the World Trade Organization (WTO), the Organisation for Economic Co-Operation and Development (OECD), the European Union (EU), the Group of 20 (G20) and the BRICS group of Brazil, Russia, India, China and South Africa. This article presents analysis of the current cooperation on issues of digital economy regulation within the main international institutions. The study aims to assess the influence of the existing and emerging regulatory mechanisms on the balance of power between the key international actors. This assessment of the emerging mechanisms’ impact on the balance of power among international actors indicates that advantages and leverage capabilities accruing from them are distributed unevenly. The advanced members of the OECD and the G20 gain significant advantages, and there is a risk that the new mechanisms will consolidate the balance of power embodied by the Bretton Woods system, which has successfully resisted decades-long endeavors for its reform. However, regulation of the digital economy is not yet built as an established order. A window of opportunity was opened in 2020, not only to implement the G20’s 2008 pledge to reform the international financial and economic architecture, but also to build a new digital economy governance system, ensuring thatemerging markets and developing countries have a voice in decision-making commensurate with their weight in the global economy. The article is structured in three parts. The introduction presents the research questions and objectives and describes the parameters of comparative analysis and influence assessment criteria. The second section reviews the emerging mechanisms and instruments and reflects on their influence on the balance of power. The third section puts forward conclusions and recommendations for enhancing the influence of emerging markets and developing countries on the shaping and functioning of the emerging digital economy’s regulatory mechanisms.

scholarly journals Research on the International Development Trend of Big Data and Digital Economy and Its Reference to China

2021 ◽  
Vol 233 ◽  
pp. 01171
Author(s):  
ZHANG Tao ◽  
WU Zai-Qun ◽  
ZHENG Xiao-Yu
Keyword(s):  
Big Data ◽  
International Development ◽  
Development Trend ◽  
The United States ◽  
International Perspective ◽  
Digital Economy ◽  
Value Assessment ◽  
The European Union ◽  
Development Mode ◽  
Global Economic Growth

With the wide application and development of big data, digital economy has become the innovation power of global economic growth and has an important impact on the development of global social and economic cooperation. From an international perspective, this paper analyzes the development trend and achievements of the United States, the European Union and important international organizations in the field of digital economy. On this basis, this paper analyzes the current situation and challenges of the development of China's digital economy, and puts forward suggestions and measures to promote the development of China's digital economy in view of the digital gap, value assessment, development mode, talent training.

3. Engaging the World

2017 ◽  
Author(s):  
Geoffrey Edwards
Keyword(s):  
European Union ◽  
Foreign Policy ◽  
International Cooperation ◽  
Global Governance ◽  
International Security ◽  
Historical Background ◽  
The European Union ◽  
The World ◽  
Security Actor ◽  
Small Member

This chapter examines the ways in which the European Union enters into international relations and engages with key processes in the world arena. It first provides a historical background on the interaction of an evolving EU with the rest of the world before discussing the main patterns of relationships and interactions in the areas in which Europe has been active. It then considers two centres of enduring tensions in the EU's external engagement: EU's engagement with processes of international cooperation and conflict, and with processes of global governance. It also looks at tensions that arise between the collective ‘European’ and national positions. They are between: Europeanization and national foreign policy; rhetoric and achievement; big and small member states; old and new Europe; and the concept of civilian power Europe and the EU as an international security actor with access to military forces.

scholarly journals New Development Bank: Importance and Role in Sustainable Economic Development

2015 ◽  
Vol 2 (2) ◽  
Author(s):  
K. B. Dhore
Keyword(s):  
International Development ◽  
World Economy ◽  
World Population ◽  
Development Bank ◽  
Foreign Reserves ◽  
Brics Countries ◽  
Complementary Role ◽  
New Development ◽  
The World

As of 2014, the five BRICS countries represent almost 3 billion people which is 40% of the world population, with a combined nominal GDP of US$16.039 trillion (20% world GDP) and an estimated US$4 trillion in combined foreign reserves. As of 2014, the BRICS nations represented 18 percent of the world economy. BRICS leaders have approved creating a New Development Bank which would fund long-term investment in infrastructure and more sustainable development. It then estimates the likely level of loans that this New Development Bank could make, under different assumptions. It highlights the complementary role that such a bank would play with existing development banks and shows its importance for enhancing the influence of BRICS and other developing countries in the international development architecture. On the other hand, there are doubts about the nature and coherence of the group. There is also concern that the economic agenda of BRICS could pose new challenges to human rights and development, particularly given the absence of domestic frameworks for accountability on international engagements.

scholarly journals THE DEVELOPMENT BANK OF BRICS

2018 ◽  
Vol 5 (4) ◽  
pp. 5-32
Author(s):  
Thiago Ferreira Almeida ◽  
Roberto Luiz Silva
Keyword(s):  
International Development ◽  
World Bank ◽  
Development Bank ◽  
Brics Countries ◽  
The World Bank ◽  
New Development ◽  
The World ◽  
Development Institutions ◽  
New Form ◽  
Growth Analyses

This paper takes aim at the international financial system through the lens of the New Development Bank of the BRICS countries with an analysis of the Bank’s impact and relevance vis-à-vis the system. The work compares the traditional characteristics of international development institutions such as the World Bank and financial entities directed by national authorities with international solutions such as the New Development Bank, whose goals are to boost the infrastructure and renewable energy sectors of its five member countries as well as those of other developing countries. The work lays out insightful data on foreign direct investment of BRICS, GDP growth analyses, imports and exports inside and outside the BRICS group for a clearer understanding of the companies and businesses involved in the group. The work highlights an outlook of investment and development engaged in this new form of South-South cooperation which has been created by BRICS.

scholarly journals Transformational processes of clustering in digital economy

2021 ◽  
Vol 7 (Extra-C) ◽  
pp. 691-702
Author(s):  
Halyna Samiilenko ◽  
Olha Popelo ◽  
Veronika Khudolei ◽  
Kostyantyn Mashnenkov ◽  
Yuliia Derkachenko
Keyword(s):  
Cluster Formation ◽  
Digital Economy ◽  
Economic Relations ◽  
Current State ◽  
The World ◽  
Digital Development ◽  
Characteristic Features ◽  
Regional Section

Within the article, information on the current state of clustering is systematized,  for which the data on the cluster formations functioning in the world are analyzed, on the basis of which seven world models of clusters are singled out, their main and characteristic features are outlined. The orientation of Ukrainian clusters is clarified, special features are revealed and their characteristics are given. It is proved that modern manifestations of digital economy significantly influence the process of clustering and cluster formation. The analysis of digitalization of Ukraine in the regional section is carried out, grouping of regions on digital development of regions is conducted. The influence of digitalization on the development of socio-economic relations is revealed and outlined. The main transformational changes of modern clustering in the conditions of digitalization are formulated, it is proved that its change led to the appearance of such cluster formations as clusters of digital economy, their concepts, essence, features and advantages are clarified.

Financial and Economic Security of BRICS Countries

2018 ◽  
pp. 139-150
Author(s):  
Elena V. Fomicheva ◽  
Marina S. Shikun
Keyword(s):  
Global Governance ◽  
Economic Security ◽  
Global Network ◽  
Financial Risks ◽  
Financial Instruments ◽  
Global Community ◽  
Governance System ◽  
Brics Countries ◽  
The World ◽  
Current Economic Situation

With the growing tension in the global community and the instability of the overall situation, problems with financial centers and regions have arisen, and as a result, the necessity of reforms have appeared in the global governance system and in the financial and economic system. BRICS countries are very interested in solving problems and developing relations within the bloc. Each country pursues its own interest, but the emerging dialogue of countries allows them to find a compromise in complex issues. The current economic situation in the world, where Western countries speak the language of sanctions, makes BRICS countries strengthen their interaction. It concerns the provision of financial and economic security. Increased financial risks in the capital market as well as the dominance of the dollar and the euro level, push BRICS countries to strengthen the financial mechanisms. BRICS countries support the creation of a global network of financial instruments.

scholarly journals Digital Economy

2020 ◽  
Author(s):  
Gulnara Abdrakhmanova ◽  
Konstantin Vishnevskiy ◽  
Leonid Gokhberg ◽  
Anna Demyanova ◽  
Marina Kevesh ◽  
...  
Keyword(s):  
Russian Federation ◽  
International Comparisons ◽  
Digital Economy ◽  
Federal State ◽  
International Telecommunication Union ◽  
International Telecommunication ◽  
Digital Development ◽  
Data Book ◽  
The Russian Federation ◽  
Development Communications

This pocket data book contains the most recent statistical data representing the level and dynamics of the digital economy development in the Russian Federation. International comparisons are provided for a number of indicators. The data book includes information of the Ministry of Digital Development, Communications and Mass Media of the Russian Federation, Russian Federal State Statistics Service (Rosstat), Russian Central Bank (Bank of Russia), Organisation for Economic Co-operation and Development (OECD), European Statistical Office (Eurostat), International Telecommunication Union (ITU), United Nations Conference on Trade and Development (UNCTAD), World Intellectual Property Organisation (WIPO), and results of own methodological and analytical studies of the HSE Institute for Statistical Studies and Economics of Knowledge.

scholarly journals International Experience of Using Accelerators for Development of Digital Innovations

2020 ◽  
pp. 17-30
Author(s):  
E. V. Staliarova
Keyword(s):  
International Experience ◽  
Digital Economy ◽  
Current Situation ◽  
Business Incubators ◽  
The World ◽  
Different Types ◽  
Main Activity ◽  
Further Development

This article describes international experience in the area of setup and development of accelerators as the source of innovations, including innovations in the sphere of digital economy. This research also presents main characteristics of accelerators, their classification and main differences from business-incubators. It also includes analysis of main activity indicators of leading accelerators in the world, based on the data of Global Accelerator Network, as well as ranking of different types of accelerators. There is also analysis of the current situation in Belarus with accelerators, including main problems as well as recommendations on further development.

scholarly journals THE IMPACT OF THE DIGITAL ECONOMY ON GLOBALIZATION

2020 ◽  
pp. 104-118
Author(s):  
Svitlana KOLIADENKO
Keyword(s):  
Modern Science ◽  
Digital Economy ◽  
Modern World ◽  
Economic Science ◽  
It Industry ◽  
The World ◽  
Cross Platform ◽  
Modern Economic ◽  
The Impact ◽  
Further Development

The article explores the main directions and trends of the modern economy – digital and its impact on globalization processes taking place in the modern world. Digital economy entered the modern definition is not so long ago, having gone through the difficult path of becoming both in the world and in Ukraine. Forming as a modern science, digital economy is becoming a feature of modern times: new terms, categories, concepts, tools are emerging and being introduced into scientific modernity. Some terms have been proposed for use in modern economic science, including: digital co-working center, cross-platform with digital industry, digital hub studio, hub association, hackathon, internet of things; some of them have been interpreted by the author. The contemporary impact of the digital economy on globalization has been investigated and some trends, implications, which can positively affect the further development of the IT industry in the economy of the world and Ukraine, especially the development of small and medium-sized enterprises basis of economic development for the coming period, especially as the next wave of the global economic crisis approaches. Although the term "digital economy" has long been used in the economic community of the world, not all its characteristics have been described in terms of theoretical economics, and even more so, those specific terms that accompany it in the economic studies of scientists. The digital economy is determined by a number of aspects in the technological, global, digitized, social fields. This article shows and substantiates ways to form some terms used in this direction and justifies (in some cases propose own) the formulation of terms that are either used in foreign-language sources or come from other fields, especially technical terms, economic substantiation of which is necessary for modern theoretical thought.

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