In the period of the most prolonged economic recovery in Spain's modern history, which lasted from the mid-1990s until the beginning of the global financial and economic crisis of 2008-2009, the national banking system, consisting of banks, savings banks and credit cooperatives, played a leading role in stimulating economic growth, the locomotive of which was the development of the construction industry. However, in the context of the crisis, its excessive orientation towards lending to construction organizations and mortgage loans to the population turned into a time bomb, which provoked a crisis in the country's banking system, which experienced no significant losses during the first years of the crisis. Measures taken in the period from 2010 to 2012 by the government of Spain and the European Central Bank gave a positive result, which was reflected in the transition of the country from 2014 to the trajectory of economic growth.
The article deals with the results of 11-th Ministerial Conference of the WTO in Buenos Aire held in December 2017. The author highlighted concrete initiatives adopted by several coalitions and their prospects. In conclusions the author pointed in particular to the perspectives of plurilateral format in the multilateral trading system, as well as to actual contradictions between developed and developing countries within the WTO and the problem of leadership in trade negotiations at the present stage.
The article investigates the global shifts in the world economy and changes in commodity markets, where Russia has a wide range of economic interests and international projects, and is also facing a number of challenges. These are fall in demand and lower prices for basic energy, the growing contradictions and rivalry between the major players, the political pressure and the introduction of market constraints (sanctions). The author raises the question of a new paradigm of development, combining pre-empting the future and reacting in the moment, proactive and reactive strategies based on the deserving moral guidelines.
Climate change, water scarcity and food deficit are analyzed in the article within the frameworks of the public goods theory. Special attention is paid to the international cooperation in the given sphere. Mitigation of climate change is global public good and this makes active international collaboration possible, while resistance to water and food scarcity is global merit good that’s why the cooperation is complicated. Transition to the complex mitigation of global problems is considered to be the most efficient way to resolve them.
Government procurement liberalization is one of the key aspects in Transatlantic Trade and Investment Partnership and Trans-Pacific Partnership negotiations. In both cases, the main negotiating issue is the liberalization of foreign companies’ access to the U.S. procurement market. In particular, the U.S. trading partners insist on the elimination of Buy American preferences and the expansion of state procurement commitments.
The article considers the peculiarities of international trade negotiations in the WTO. Examines the position of diff erent groups of countries, problems and prospects of negotiations on the Doha development agenda. The authors indicate that the Bali package lays the Foundation for the completion of the Doha round. Through the prism of regulation by the WTO processes of regionalization of trade analyzed the Customs Union of Russia, Belarus and Kazakhstan.
Growing revenues from the extraction of natural resources and the problems of poverty in developing countries formed the basis of the proposals for widening the borders of transparency in extractive industries and the necessity to disclose the data relating to fair distribution of wealth. It will result in openness of economies, investment attractiveness, availability of cheap loans, etc.- the so called Extractive Industries Transparency Initiative (EITI).
For the Russian economy as an export-oriented one, this work is more concerned with a long-term perspective as organizational unpre- paredness, lack of developed institutions in the country will not allow to check the veracity of institutional change, and the extension of transparency will come upon unwanted international legal implications of participation in the EITI. Positive results of participation would be postponed by anti-Russian sanctions.
BRICS countries’ positions in the global economy are growing. Nevertheless in BRICS countries remain fragmented, and actions in the sphere of innovation policies – incoherent. Governments of these countries have already taken this in consideration and started to stimulate the shift towards the intensive growth or towards innovation-driven economy. Especially successful in performing this task is China.