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Energy Safety and Innovative Development of the BRICS States

Author

Listed:
  • Irina Aleksandrovna Rodionova

    (Federal State Independent Educational Institution of Higher Education Peoples Friendship University of Russia (RUDN University), Moscow 117198, Miklukho-Maklaya, Russia,)

  • Maksim Vasilyevich Chernyaev

    (Federal State Independent Educational Institution of Higher Education Peoples Friendship University of Russia (RUDN University), Moscow 117198, Miklukho-Maklaya, Russia,)

  • Anna Vadimovna Korenevskaya

    (Federal State Independent Educational Institution of Education Peoples Friendship University of Russia (RUDN University), Moscow 117198, Miklukho-Maklaya, Russia.)

Abstract

In today s world, transition from a model based on the use of world resources by a limited number of developed economies (primarily the USA, Western Europe, etc.,), and on the redelivery of those to other regions and countries in the form of finished products and investments, to a multipolarity model is observed. Emerging new leaders, both regional and global, indicate formation of new centers of development. In this paper, the roles of BRICS member countries in the global economy are considered in context of multipolar world development process. For the further development of global economy, additional energy production is of great essence. However, power consumption efficiency and energy safety strategies move to the forefront in today s world. BRICS play an important role in the Global energy safety system, and their energy industry has a significant weight in both generation and consumption of world s power resources. The purpose of the article is to distinguish the BRICS position within the global power industry in dynamics from energy safety point of view, as cooperation in this field has great influence on the development and allows improving position of BRICS member countries in generating and export of industrial products and in general within the global economy. BRICS, the EU and NAFTA comparative analysis has been carried out based on the data provided by British oil and gas company British Petroleum (Statistical Review of World Energy, 2016), the United Nations Industrial Development Organization and the US National Science Foundation (Science and Engineering Indicators, 2016) over the period of 1999-2015.

Suggested Citation

  • Irina Aleksandrovna Rodionova & Maksim Vasilyevich Chernyaev & Anna Vadimovna Korenevskaya, 2017. "Energy Safety and Innovative Development of the BRICS States," International Journal of Energy Economics and Policy, Econjournals, vol. 7(3), pages 216-224.
    • Handle: RePEc:eco:journ2:2017-03-26
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    Citations

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    Cited by:

    1. Ibrahim, Ridwan Lanre & Ajide, Kazeem Bello, 2021. "The dynamic heterogeneous impacts of nonrenewable energy, trade openness, total natural resource rents, financial development and regulatory quality on environmental quality: Evidence from BRICS econo," Resources Policy, Elsevier, vol. 74(C).
    2. M.V. Chernyaev & T.F. Kreydenko, 2018. "Enhancing the Efficiency of Oil and Gas Complex as a Basis for Ensuring Energy Safety," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 516-529.
    3. Maxim Vasilyevich Chernyaev & Irina Aleksandrovna Rodionova, 2017. "Analysis of Sustainable Development Factors in Fuel and Energy Industry and Conditions for Achievement Energy Efficiency and Energy Security," International Journal of Energy Economics and Policy, Econjournals, vol. 7(5), pages 16-27.
    4. M.V. Chernyaev & T.F. Kreydenko, 2018. "Enhancing the Efficiency of Oil and Gas Complex as a Basis for Ensuring Energy Safety," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 516-529.

    More about this item

    Keywords

    BRICS; NAFTA; The EU; Power Industry; International Ratings; R and D; Innovative Economy.;
    All these keywords.

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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