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Retrospects and prospects of Russia in the APEC

Vol. 15, Iss. 7, JULY 2019

Received: 25 December 2018

Received in revised form: 16 January 2019

Accepted: 21 February 2019

Available online: 15 July 2019


JEL Classification: F15, F20, F29, O19, O53

Pages: 1370–1390

Smirnov V.V. I.N. Ulianov Chuvash State University (ChuvSU), Cheboksary, Chuvash Republic, Russian Federation

Mulendeeva A.V. I.N. Ulianov Chuvash State University (ChuvSU), Cheboksary, Chuvash Republic, Russian Federation

Subject The article focuses on Russia's role in the Asian Pacific Economic Cooperation (APEC) and carries out the retrospective and prospective analysis of development trends in the cooperation between Russia and the APEC.
Objectives The study evaluates trends in trade, foreign direct investment, portfolio investment assets and attempts to determine how Russia should reasonably cooperate with the APEC countries.
Methods The study is based on the systems approach, using methods of statistical analysis.
Results We investigate global development trends signifying that emerging economies of Asia demonstrate a high growth pace since they implement the high value-added production and spur the consumption due to better well-being of households. As the retrospective and prospective analyses show, non-manufacturing exports and manufacturing imports are expected to grow. The Russian direct investment accommodate the potential of the APEC countries. The USA used to be the main investment pipeline to Russia. The proposed map of reasonable cooperation between the APEC and Russia reveals the priority of expanding manufacturing imports and non-manufacturing exports, raising domestic and foreign direct investment.
Conclusions and Relevance Being the APEC member, Russia can diversify exports of natural resources and import high value-added products to emerging and advanced economies. What Russia loses as a result of its APEC membership is the Russian direct investment, seeing the USA strengthening its status of a key investor. The findings should be used to adjust the international policy and foreign trade with the APEC countries and improve the implementation mechanism.

Keywords: development trends, portfolio investment assets, foreign direct investment


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