It's Not the Economy Stupid! Is Russia-US Trade Really Underdeveloped? A Test Using Gravity Models
We investigate the 2008–2009 trade collapse using microdata from a small open economy, Belgium. Belgian exports and imports mostly fell because of smaller quantities sold and unit prices charged rather than fewer firms, trading partners, and products being involved in trade. Our difference-in-difference results point to a fall in the demand for tradables as the main driver of the collapse. Finance and involvement in global value chains played a minor role. Firm-level exports-to-turnover and imports-to-intermediates ratios reveal a comparable collapse of domestic and cross-border operations. Overall, our results reject a crisis of cross-border trade per se.
This article assesses the level of openness of Russian economy. It is shown that the open-ness indicators used in the Concept of Long-term Social and Economic Development of the Russian Federation differ from those employed by international organisations. The present research analyses both the intensity of Russian trade in terms of its gross domestic product and the relative strength of import penetration in Russia. Methodological differences determine the differences in the analysis results.
The article is devoted to the analysis of trends in international trade development in Russia in the period following trade liberalization. Using statistical data analysis changes in scale and the structure of international trade since the first years of economic reforms in Russia are estimated.
Over the past almost two years, the U.S.-Russia relations have markedly improved. The “reset” of relations proposed by the Barack Obama administration has been a success. The threat of a retreat to a systemic confrontation has almost disappeared. Many of the conflicts between the two countries have been either resolved or, for the most part, reduced to a “smoldering” state. Both Russia and the United States display pragmatism by lowering the importance of persisting conflicts over the benefits of cooperation. For the first time in the post-Soviet period, the U.S. has partially revised its position on Russia-related issues and its interests with regard to Russia for the sake of getting Moscow’s support in matters of interest to Washington. Unlike the previous rounds, the current improvement of the U.S.-Russia relations rests on a more solid foundation – namely, a clear and pragmatic understanding by the parties of their interests and of the importance of constructive mutual relations for their implementation.
The Stanford US-Russia Forum Research Journal, A Peer-Reviewed Publication
Volume 9 (April 2018)
This study analyzes the effects of reducing trade barriers in the context of the objectives of competition policy. Separate chapters are devoted to the assessment of the height of Russian trade barriers, the analysis of the impact of international trade on domestic prices and concentration of production.