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Russia’s Trade Policy Priorities in the Orbit of BRICS Economic Cooperation
[Приоритеты Внешнеторговой Политики России В Орбите Экономического Сотрудничества Брикс]

Author

Listed:
  • Khmelevskaya, Natalia (Хмелевская, Наталья)

    (Moscow State Institute of International Relations (University) of Ministry of Foreign Affairs of Russia)

Abstract

The article presents analysis on structure of trade, its complementarity and terms of bilateral trade among BRICS through the lens of Russia’s key trade policy priorities. Assessments for trade complementarity has been made with emphasis on Russian mineral fuel export which proved to be negatively correlated with world demand and directly with determinants from BRICS. The negative dynamics of revealed comparative advantage for Russian oil regarding world export is coherent with parameters of competition among BRICS. Its revealed comparative advantage relatively export among BRICS shows growth which may be explained by its price advantages. The estimations and in-depth analysis in this work prove that BRICS is becoming significant factor for Russia’s trade policy. The resume is that so far transaction costs drive growth of trade among BRICs their common interest is to facilitate doing business and trade among them.

Suggested Citation

  • Khmelevskaya, Natalia (Хмелевская, Наталья), 2015. "Russia’s Trade Policy Priorities in the Orbit of BRICS Economic Cooperation [Приоритеты Внешнеторговой Политики России В Орбите Экономического Сотрудничества Брикс]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 2, pages 93-109.
    • Handle: RePEc:rnp:ecopol:ep1525
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    References listed on IDEAS

    as
    1. William H. Branson & Conor N. Healy, 2009. "Monetary and Exchange Rate Policy Coordination in ASEAN+1," Chapters, in: Koichi Hamada & Beate Reszat & Ulrich Volz (ed.), Towards Monetary and Financial Integration in East Asia, chapter 9, Edward Elgar Publishing.
    2. Mr. Tamim Bayoumi & Mika Saito & Mr. Jarkko Turunen, 2013. "Measuring Competitiveness: Trade in Goods or Tasks?," IMF Working Papers 2013/100, International Monetary Fund.
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    4. Marc J. Melitz, 2003. "The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity," Econometrica, Econometric Society, vol. 71(6), pages 1695-1725, November.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    BRICS; trade complementarity; export structure; comparative advantages; costs of trading across;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

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