scholarly journals The Role of Economic Diplomacy in the System of Modern International Economic Relations

2021 ◽  
Vol 8 (2) ◽  
pp. 35-44
Author(s):  
Viktoriia V. Kukharyk ◽  
Thomas Nübling
Keyword(s):  
International Economic ◽  
Regression Analysis ◽  
Economic Security ◽  
Gdp Growth ◽  
Economic Relations ◽  
Economic Diplomacy ◽  
International Economic Relations ◽  
Foreign Trade Turnover ◽  
The Eu

The modern globalised world is characterised by economic independence, which is a component that measures the level of relations between countries, the content, direction and intensity of which has begun to be influenced by economic dependence. In other words, economic relations have become central to diplomatic activity, which determines the relevance of the subject matter. The purpose of this study is to determine the role of economic diplomacy in the system of modern international economic relations, to compare the theoretical model of economic diplomacy and the practice of its implementation. This paper uses the following methods: scientific abstraction; monographic, dialectical, historicallogical; structural-logical; abstract-logical; methods of regression analysis; synthesis; problem-oriented method; statistical and graphic methods. The author used a Scatter plot model and performed a regression analysis to determine which free trade area (Ukraine-EU, Ukraine-Canada, or Ukraine-Israel) affects Ukraine's GDP growth. The study model confirms the positive relationship between Ukraine's GDP growth and the growth of foreign trade turnover (FTT) between Ukraine and the EU. The linear model explains that a 1% increase in FTT affects an average 5% increase in Ukraine's GDP. At the same time, the regression model shows the opposite trend in terms of FTT between Ukraine and Canada, Ukraine and Israel. Thus, the dynamics of Ukraine's FTT with these countries does not have a significant impact on GDP. Only the growth of FTT between Ukraine and the EU indicates the effectiveness of bilateral cooperation. The practical significance of the results obtained lies in the fact that the theoretical foundations, conclusions, and recommendations obtained and formulated by the author can serve as a basis for further study of issues of economic diplomacy and for the development of such a concept of economic diplomacy, which should take into account the positions of stakeholders to balance the interests of ensuring the national economic security of the state

The drastic change of the EU relationship with ACP countries in the context of international economic relations

2014 ◽  
Vol 13 (1) ◽  
pp. 67-79 ◽  
Author(s):  
Ana Manero Salvador
Keyword(s):  
International Economic ◽  
Design Methodology ◽  
External Action ◽  
The European Union ◽  
Content Type ◽  
Economic Relations ◽  
Documentary Sources ◽  
International Economic Relations ◽  
The Relationship ◽  
The Eu

Purpose – The aim of this paper is to analyze the adjustment of relations between the EU and ACP countries to multilateral requirements. Design/methodology/approach – Has been carried out an analysis of the previous situation, the reasons and the result of the adjustment. To do this, they have been pursued literary and documentary sources. Findings – The European Union's relations with the ACP countries have changed drastically. Now there is no unity of action of ACP, and the relations with the EU relations are atomized. Originality/value – The submitted article summarizes and critically analyzes the evolution of the European Union's relations with ACP countries. The relationship with the ACP has been historically and currently lost its specificity, so it is diluted in the context of the external action of the European Union.

scholarly journals THE POSITION OF THE FINANCIAL COMPONENT IN THE PARADIGM OF MODERN ECONOMIC DIPLOMACY

2021 ◽  
Vol 7 (3) ◽  
pp. 186-194
Author(s):  
Kostyantyn Flissak ◽  
Darya Glukhova
Keyword(s):  
International Economic ◽  
Public Debt ◽  
Economic Activity ◽  
Scientific Research ◽  
The United States ◽  
Special Role ◽  
Economic Relations ◽  
Economic Diplomacy ◽  
International Economic Relations ◽  
The Impact

At the beginning of the 21st century, most subjects of international economic relations announced a course to liberalize the world economy both as a whole and as its individual components. At the same time, under the influence of geopolitical and geo-economic aspirations, state instruments of a protectionist nature were increasingly used. Global economic development has become a hostage to such processes. In such circumstances, the efficiency of individual business entities has begun to decline. Innovative tools were needed to prevent this. One of them was economic diplomacy, which has acquired a special role in providing the promotion of the interests of both national economies as a whole and their individual subjects. At the same time, economic diplomacy itself covers different areas of economic activity and not all of them are investigated to the same extent. The purpose of the article is to study and analyze the financial component of economic diplomacy in modern conditions, the specifics of its formation and development, aimed at improving the national system of promoting national interests both within the state and abroad. To achieve this goal, the research is focused on the following tasks: to consider and analyze the theoretical basis of the financial component of economic diplomacy, to highlight its manifestations in various forms of international economic relations, to determine the main imperatives of state support for international investment partnership. Special attention is paid to the issues of external borrowing and the movement of public debt funds from the point of view of the influence of economic diplomacy on them. Based on the results of this review, a whole number of theoretical conclusions were made, which at the same time establish the basis for further research of the considered problem. Methodology. In the process of preparing the article, methods of scientific abstraction, observation, analysis and synthesis, generalization, as well as statistical and economic methods were used to assess a number of financial and economic indicators of state development in order to identify the weaknesses and prospects for the impact of economic diplomacy tools on them. The information and analytical base for the study are materials and analytical reports of international organizations dealing with the issues under consideration (UNCTAD, IMF, World Bank), regulatory and statistical data of state authorities of Ukraine and the United States, the results of scientific research of modern scientists from different countries. The results of the study show that providing the proper efficiency of foreign economic activity requires the use of a set of tools to promote and support its subjects. Economic diplomacy plays a significant role in this sphere. The development level of international economic relations actualizes the justification of the modern paradigm of the financial component, mechanisms for applying the tools of economic diplomacy in financial issues. All this requires a clear delineation and structuring of object-by-object areas and directions of efforts. Only on this basis, an effective mechanism for implementing the financial component of economic diplomacy can be formed. The practical implications of the scientific research are to find out the current state of economic diplomacy mechanisms in the financial sphere, trends in their development, and potential consequences for other states (including Ukraine). Value/originality. The studied mechanisms and practice of using economic diplomacy in the sphere of the financial component, in particular in issues of interstate investment partnership, external government borrowing, and work with public debt deserve attention from the relevant state structures of Ukraine on the implementation of tools and standards of economic diplomacy in this area. In addition, this study can serve as a basis for further research, since the considered problem contains the significant potential for further investigations in subsequent scientific publications.

The role of tourism in Slovenia's strategy of international economic relations

1997 ◽  
Vol 3 (1) ◽  
pp. 1-8
Author(s):  
Vito Bobek
Keyword(s):  
International Economic ◽  
Sustainable Tourism ◽  
Environmental Benefits ◽  
Economic Relations ◽  
International Economic Relations ◽  
The Subject ◽  
The Law ◽  
Global Planning

This paper explores the idea of sustainable tourism as a criterion for long-term global planning that takes the economic, sociocultural and environmental benefits of tourist products into account. The paper also discusses what Slovenia’s strategy of international economic relations, together with the Law on tourist activities have contributed to the subject.

Advanced Introduction to Law and Development

2021 ◽  
Author(s):  
Mariana Mota Prado ◽  
◽  
Michael J. Trebilcock ◽  
Keyword(s):  
International Economic ◽  
Public Law ◽  
Private Law ◽  
Development Research ◽  
Legal Systems ◽  
Law And Development ◽  
Economic Relations ◽  
International Economic Relations ◽  
Recent Trends

In this thoroughly revised and updated second edition, Mariana Mota Prado and Michael J. Trebilcock offer a succinct and readable introduction to the main concepts and debates in the field of law and development. They examine the role of legal systems and institutions, investigate perceptions around what laws and legal arrangements encourage and facilitate development, and probe the issues arising in both private law and public law as well as in international economic relations. Written with the insight of two top experts in the field, this Advanced Introduction covers the most recent trends in law and development research and highlights areas that remain underexplored.

To the question on the role of foreign investments within the system of international economic relations: legal perspective

2019 ◽  
pp. 31-37
Author(s):  
Ksenia Mikhailovna Belikova
Keyword(s):  
International Economic ◽  
Russian Language ◽  
Foreign Investments ◽  
Economic Relations ◽  
Economic Concept ◽  
Language Discourse ◽  
Legal Perspective ◽  
International Economic Relations ◽  
Scientific Specialty

This article examines the question on the role of foreign investments within the system of international economic relations from the perspective of law. The author analyzes the main and auxiliary goals of an investor and the country-recipient of foreign investments and the country of origin of the investments. The legal-economic concept of “investment/foreign investment” is viewed considering the author’s opinion that investments as such are multifunctional. Different understanding in this regard underline the various aspects of the phenomenon; thereat, the legislators of different countries are guided by their teleological reasons, while representatives of the doctrine – by affiliation to one or another scientific specialty (or school). The scientific novelty lies in articulation of the problem, as well as the approaches towards its studying. The new data regarding the records and information on the role of foreign investments within the system of international economic relations are introduced into the Russian-language discourse. The conclusion is made that the foreign investments are characterizes by versatile functionality, expansion of which is substantiated by the needs of the country-recipient of investments along with the country of their origin.  

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