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Russia in global value chains
 
PIIS013122270001331-5-1
DOI
Publication type Article
Status Published
Authors
Elena Sidorova 
Occupation: Senior Researcher (IMEMO); Associate Professor (MGIMO)
Affiliation: Primakov National Research Institute of World Economy and International Relations, Russian Academy of Sciences (IMEMO),
Address: Russian Federation
Journal nameMirovaia ekonomika i mezhdunarodnye otnosheniia
EditionVolume 62 Issue 9
Pages71-80
Abstract

A new dimension of the globalization process of the 21st century is the spread of global value chains

(GVCs), or fragmentation of production. The construction of value chains in the transnational context is

shown. The concepts, peculiarities of GVCs, estimation of participation in them of particular countries,

including Russia, are considered. Russia’s role in GVCs as one of the world’s leading energy suppliers is

analyzed on the basis of current statistics of leading international databases (WIOD, TiVA). For successful

integration of Russia into the GVC, it is necessary to reconsider the priorities of state industrial and

economic policy. Taking that into account, one of the main goals should become creating healthy institutional

environment and developing the strategy of supporting national companies in the strategic economic spheres

(especially in manufacturing). While adjusting the state economic policy it’s important not only to create new

competitive advantages, but also to maintain the existing ones. Russian Federation plays a significant role in

the GVCs as one of the world’s main natural resources suppliers, with high revenues of the energy companies

involved. It’s important to broaden Russian companies’ activity in the GVCs not only in the lower parts

(resources), but also to move upward the GVC by taking part in the upper levels (R&D, marketing, etc.).

Russian energy policy in the last few years noticeably changed. The existing GVCs with the EU companies

have been created decades ago, main Russian energy companies are important part of European GVC’s. But

now, due to political situation, such cooperation is considered to be mostly vulnerability, and not as solemnly

benefit. Moreover, such situation coincides with the existing great demand for the energy resources from the

countries of the Asian-Pacific region, especially China. Therefore, Russian “Turn to the East”, which was

initially a geopolitical move, has gained a strong economic dimension now.

KeywordsGlobal value chains (GVCs), world economy, globalization, Russia, fuel and energy complex.
Received03.10.2018
Publication date03.10.2018
Number of characters413
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