Finance and Credit

Transforming the forms of external-economic interaction between advanced and periphery countries of the world: Assessment of prospects for integration

Vol. 24, Iss. 8, AUGUST 2018

Received: 11 May 2018

Received in revised form: 25 June 2018

Accepted: 9 July 2018

Available online: 29 August 2018


JEL Classification: F02

Pages: 1874–1888

Malakhova T.S. Kuban State University, Krasnodar, Krai, Russian Federation

ORCID id: not available

Importance Under global instability, external-economic relations between advanced and periphery countries of the world are extremely ambiguous and contradictory. Furthermore, investigation of their interaction within the integration shows that periphery countries become dependent not only on global actors, but also on regional organizations and financial institutions. This fact leads to strengthening the positions of advanced countries and the dependence of periphery countries.
Objectives The study focuses on exploring the forms of external-economic interaction between the advanced and periphery countries of the world, and distinguish three waves of global integration processes.
Methods Using the historical and logical method, dialectical principles and contradictions, and abstraction enabled to bring out the main theoretical concepts and objective preconditions for integration between countries.
Results I substantiate directions and specific features of evolutionary development of integration in certain countries and regions of the world, present scenarios of their further development in the context of the new global economic architecture formation. The findings may be used for further study of external economic interaction between the center and the periphery at the multipolar system formation stage.
Conclusions The paper justifies the need to realize the scenario of deep transformation of economic integration, where the advanced countries of the world play a fundamental role. This will preserve economic and national sovereignty in the periphery countries, help avoid their dependence on advanced countries and form their own vector of mid-term and long-term development.

Keywords: integration, advanced countries, periphery countries, interaction, global economy


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