Pub Date : 2022-12-15DOI: 10.17323/1996-7845-2022-04-02
G. Safonov, Mikhail Kozelstev, A. Stetsenko, Alexandra L. Dorina, Y.-U. I. Saphonova, A. Semakina, A. Sizonov, M. Safonov
The UN Paris Climate Agreement requires unprecedented efforts to prevent global warming above 1,5-2°C. Despite geopolitical, economic and other disruptions, cooperation in climate sphere is one of the key directions of international interaction among the world leading economies. Many countries adopted decarbonization strategies and carbon neutrality targets by 2050-2070. The economic analysis the decarbonization scenarios showed that zero-carbon technologies in energy, industries and other sectors can play a crucial role in reduction of carbon emissions worldwide. Achievement of Paris Agreement goals can be more efficient if the mechanisms of international climate cooperation, carbon pricing and regulation would be broadly applied.
{"title":"Perspectives of decarbonization of world economy in the context of implementation of the UN Paris Climate agreement","authors":"G. Safonov, Mikhail Kozelstev, A. Stetsenko, Alexandra L. Dorina, Y.-U. I. Saphonova, A. Semakina, A. Sizonov, M. Safonov","doi":"10.17323/1996-7845-2022-04-02","DOIUrl":"https://doi.org/10.17323/1996-7845-2022-04-02","url":null,"abstract":"The UN Paris Climate Agreement requires unprecedented efforts to prevent global warming above 1,5-2°C. Despite geopolitical, economic and other disruptions, cooperation in climate sphere is one of the key directions of international interaction among the world leading economies. Many countries adopted decarbonization strategies and carbon neutrality targets by 2050-2070. The economic analysis the decarbonization scenarios showed that zero-carbon technologies in energy, industries and other sectors can play a crucial role in reduction of carbon emissions worldwide. Achievement of Paris Agreement goals can be more efficient if the mechanisms of international climate cooperation, carbon pricing and regulation would be broadly applied.","PeriodicalId":42976,"journal":{"name":"Vestnik Mezhdunarodnykh Organizatsii-International Organisations Research Journal","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2022-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49302547","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-15DOI: 10.17323/1996-7845-2022-04-01
L. Grigoryev, Maria-Yana Maykhrovich, D. Serova, M. Starodubtseva, E. Filippova
Sociocultural factors have become a one of the priority areas in research within the framework of theories of long-term development. This article discusses the parameters of groups of countries (values of survival-self-expression and traditional-secular-rational values) according to the Inglehart- Welzel cultural map, along with other sociocultural and socioeconomic indicators. The significant cumulative advantage (gross domestic product (GDP) per capita) of three groups of countries - Anglo-Saxon, Protestant and Catholic - —compared to the rest reflects a long history of world progress. A number of the social parameters of these groups probably reflect their level of development, to which other factors have played a role in the long term. A key question addressed in the article. is whether sociocultural factors that have developed over long periods have a significant impact on the behaviour of countries in the context of modern crises, and in this case, on the incidence of vaccination in countries in critical conditions. To answer this question, qualitative and quantitative methods of analysis have been conducted using the instance of the COVID-19 pandemic in 2020-21. The hypothesis was tested on an array of 80-94 countries for which there was relevant statistical data. The tables and calculations presented in the article indicate the following results: countries more advanced in the direction of self-expression values on the Inglehart scale demonstrate higher vaccination scores and lower disease scores, and those oriented toward secular-rational values have higher rates of suicide than countries with predominantly traditional views.
{"title":"Pandemic Parameters 2020-2021 by Socio-Cultural Groups of Countries - Applied Analysis","authors":"L. Grigoryev, Maria-Yana Maykhrovich, D. Serova, M. Starodubtseva, E. Filippova","doi":"10.17323/1996-7845-2022-04-01","DOIUrl":"https://doi.org/10.17323/1996-7845-2022-04-01","url":null,"abstract":"Sociocultural factors have become a one of the priority areas in research within the framework of theories of long-term development. This article discusses the parameters of groups of countries (values of survival-self-expression and traditional-secular-rational values) according to the Inglehart- Welzel cultural map, along with other sociocultural and socioeconomic indicators. The significant cumulative advantage (gross domestic product (GDP) per capita) of three groups of countries - Anglo-Saxon, Protestant and Catholic - —compared to the rest reflects a long history of world progress. A number of the social parameters of these groups probably reflect their level of development, to which other factors have played a role in the long term. A key question addressed in the article. is whether sociocultural factors that have developed over long periods have a significant impact on the behaviour of countries in the context of modern crises, and in this case, on the incidence of vaccination in countries in critical conditions. To answer this question, qualitative and quantitative methods of analysis have been conducted using the instance of the COVID-19 pandemic in 2020-21. The hypothesis was tested on an array of 80-94 countries for which there was relevant statistical data. The tables and calculations presented in the article indicate the following results: countries more advanced in the direction of self-expression values on the Inglehart scale demonstrate higher vaccination scores and lower disease scores, and those oriented toward secular-rational values have higher rates of suicide than countries with predominantly traditional views.","PeriodicalId":42976,"journal":{"name":"Vestnik Mezhdunarodnykh Organizatsii-International Organisations Research Journal","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2022-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47331822","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-15DOI: 10.17323/1996-7845-2022-04-04
Ksenia Dorokhina, A. Sakharov
The European Union (EU) is striving to become a world leader in the field of "green economy." It promotes its own models, standards, conditions, and related positions on climate and environmental policy in other states. Trade agreements, including provisions on climate and the environment, have become one of the instruments of influence on the policy of partners and economic relations with them in the area of climate protection. The inclusion of these provisions is of economic rather than political importance, especially in terms of eliminating tariff and non-tariff barriers. The EU has developed a chapter on trade and sustainable development, which includes commitments on environmental and climate protection. As part of its implementation, the EU provides financial and technical support to partners. Nevertheless, the content of the chapter largely depends on the position of the partner and the climate policy it pursues, and in some cases— on the administration of the country. Dispute resolution within the framework of the existing mechanism of the chapter "Trade and Sustainable Development" turned out to be difficult, which prompted the EU to include new settlement options, among which the introduction of trade sanctions is an extreme measure. The article on sustainable forest management is also of economic importance for European producers, and the inclusion of references to international environmental agreements contributes to the EU's plans to reform the World Trade Organization (WTO). The agreements leave out a number of areas of cooperation and require updating as new climate commitments are made, which has been the focus of the EU's work in recent years.
{"title":"Transformation and Implementation of Environmental and Climate Provisions in EU Trade Agreements","authors":"Ksenia Dorokhina, A. Sakharov","doi":"10.17323/1996-7845-2022-04-04","DOIUrl":"https://doi.org/10.17323/1996-7845-2022-04-04","url":null,"abstract":"The European Union (EU) is striving to become a world leader in the field of \"green economy.\" It promotes its own models, standards, conditions, and related positions on climate and environmental policy in other states. Trade agreements, including provisions on climate and the environment, have become one of the instruments of influence on the policy of partners and economic relations with them in the area of climate protection. The inclusion of these provisions is of economic rather than political importance, especially in terms of eliminating tariff and non-tariff barriers. The EU has developed a chapter on trade and sustainable development, which includes commitments on environmental and climate protection. As part of its implementation, the EU provides financial and technical support to partners. Nevertheless, the content of the chapter largely depends on the position of the partner and the climate policy it pursues, and in some cases— on the administration of the country. Dispute resolution within the framework of the existing mechanism of the chapter \"Trade and Sustainable Development\" turned out to be difficult, which prompted the EU to include new settlement options, among which the introduction of trade sanctions is an extreme measure. The article on sustainable forest management is also of economic importance for European producers, and the inclusion of references to international environmental agreements contributes to the EU's plans to reform the World Trade Organization (WTO). The agreements leave out a number of areas of cooperation and require updating as new climate commitments are made, which has been the focus of the EU's work in recent years.","PeriodicalId":42976,"journal":{"name":"Vestnik Mezhdunarodnykh Organizatsii-International Organisations Research Journal","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2022-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47503143","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-15DOI: 10.17323/1996-7845-2022-04-03
I. Popova
At the 2021 Conference of the Parties to the United Nations Framework Convention on Climate Change in Glasgow, many leading economies have cemented the intention of achieving carbon neutrality by mid-century (2050-2070). However, the geopolitical and economic crisis of 2022 threatens to reduce the priority of decarbonization policy and postpone the introduction of more restrictive measures. In the face of growing constraints, the choice of climate policy instruments becomes even more complex and important. It is necessary to analyze different options from the low-carbon development policy toolkit, to understand their strengths and weaknesses, and their potential to be used to build a comprehensive policy. This article analyzes the strengths and weaknesses of emissions trading systems (ETS) as a tool for direct carbon pricing - a measure that experts from international organizations, as well as the academic community, believe is essential for achieving climate goals. Despite the fact that carbon taxes (the second option of direct pricing) is easier to implement and administer, many jurisdictions still opt for an ETS. Several factors influence the choice of ETS as a decarbonization tool: if optimally designed, a market-based mechanism provides cost-effective emission reductions, there is potential for linkage into a larger systems, the flexibility of the instrument can also provide additional benefits, China’s national ETS is a good example of exploiting the ETS’ flexibility. Political and administrative characteristics (EU, Germany, UK, California), Kyoto, Brussels, and OECD effects (Mexico and other jurisdictions) play an important role in the choice in favour of ETS. The experience of complex and comprehensive low-carbon development strategies already being implemented shows that it is not necessary to place the ETS at the center, making it the cornerstone of policy. The role of ETS in the entire set of decarbonization measures can be central, supportive, or enabling. ETS can have different objectives and stimulate not only direct emission reductions, but also technological transformation, energy transition. For Russia as a federal state, conducting pilot projects with different instruments of carbon pricing implemented in different regions seems to be the best solution for the near future and finding the right instruments for the Low Greenhouse Gas Emissions Development Strategy.
{"title":"Emission trading systems as an instrument in decarbonization strategies’ toolkit","authors":"I. Popova","doi":"10.17323/1996-7845-2022-04-03","DOIUrl":"https://doi.org/10.17323/1996-7845-2022-04-03","url":null,"abstract":"At the 2021 Conference of the Parties to the United Nations Framework Convention on Climate Change in Glasgow, many leading economies have cemented the intention of achieving carbon neutrality by mid-century (2050-2070). However, the geopolitical and economic crisis of 2022 threatens to reduce the priority of decarbonization policy and postpone the introduction of more restrictive measures. In the face of growing constraints, the choice of climate policy instruments becomes even more complex and important. It is necessary to analyze different options from the low-carbon development policy toolkit, to understand their strengths and weaknesses, and their potential to be used to build a comprehensive policy. This article analyzes the strengths and weaknesses of emissions trading systems (ETS) as a tool for direct carbon pricing - a measure that experts from international organizations, as well as the academic community, believe is essential for achieving climate goals. Despite the fact that carbon taxes (the second option of direct pricing) is easier to implement and administer, many jurisdictions still opt for an ETS. Several factors influence the choice of ETS as a decarbonization tool: if optimally designed, a market-based mechanism provides cost-effective emission reductions, there is potential for linkage into a larger systems, the flexibility of the instrument can also provide additional benefits, China’s national ETS is a good example of exploiting the ETS’ flexibility. Political and administrative characteristics (EU, Germany, UK, California), Kyoto, Brussels, and OECD effects (Mexico and other jurisdictions) play an important role in the choice in favour of ETS. The experience of complex and comprehensive low-carbon development strategies already being implemented shows that it is not necessary to place the ETS at the center, making it the cornerstone of policy. The role of ETS in the entire set of decarbonization measures can be central, supportive, or enabling. ETS can have different objectives and stimulate not only direct emission reductions, but also technological transformation, energy transition. For Russia as a federal state, conducting pilot projects with different instruments of carbon pricing implemented in different regions seems to be the best solution for the near future and finding the right instruments for the Low Greenhouse Gas Emissions Development Strategy.","PeriodicalId":42976,"journal":{"name":"Vestnik Mezhdunarodnykh Organizatsii-International Organisations Research Journal","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2022-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45294519","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-15DOI: 10.17323/1996-7845-2022-04-08
V. Oksinenko
This article examines the ratio of the official development assistance (ODA) structure of Armenia to its domestic goals. For this, the author examines the structure of development assistance to Armenia and the motives of its main donors. Considering the countryʼs rather close economic cooperation with Russia and the countries of the European Union (EU), the expected political motivation of the countryʼs donors in providing and distributing ODA is revealed. However, for the most part, ODA-supported projects correspond to the real distribution of the countryʼs domestic needs: poverty reduction and support for socially vulnerable groups of the population, development of agriculture and the service sector, and support for climate initiatives. The main contribution to this is made by international organizations and the United States, which are historically the most reliable and long-standing donors of ODA to the country. The Russian Federation is also a major donor of ODA to Armenia; however, due to the peculiarities of defining development assistance at the legislative level, Russian bilateral ODA is disordered and incorrectly reflected in official statistics. In the medium term, the current structure of ODA by sector and donor can be expected to stay stable: it is based on long-term agreements on cross-country economic cooperation and the activity of a stable political structure in the United States. In the long term, the structure of Armeniaʼs ODA is likely to be most determined by the development of economic relations between the Republic of Armenia and the European Union.
{"title":"Structure and Prospects for the Transformation of Official Development Assistance to Armenia","authors":"V. Oksinenko","doi":"10.17323/1996-7845-2022-04-08","DOIUrl":"https://doi.org/10.17323/1996-7845-2022-04-08","url":null,"abstract":"This article examines the ratio of the official development assistance (ODA) structure of Armenia to its domestic goals. For this, the author examines the structure of development assistance to Armenia and the motives of its main donors. Considering the countryʼs rather close economic cooperation with Russia and the countries of the European Union (EU), the expected political motivation of the countryʼs donors in providing and distributing ODA is revealed. However, for the most part, ODA-supported projects correspond to the real distribution of the countryʼs domestic needs: poverty reduction and support for socially vulnerable groups of the population, development of agriculture and the service sector, and support for climate initiatives. The main contribution to this is made by international organizations and the United States, which are historically the most reliable and long-standing donors of ODA to the country. The Russian Federation is also a major donor of ODA to Armenia; however, due to the peculiarities of defining development assistance at the legislative level, Russian bilateral ODA is disordered and incorrectly reflected in official statistics. In the medium term, the current structure of ODA by sector and donor can be expected to stay stable: it is based on long-term agreements on cross-country economic cooperation and the activity of a stable political structure in the United States. In the long term, the structure of Armeniaʼs ODA is likely to be most determined by the development of economic relations between the Republic of Armenia and the European Union.","PeriodicalId":42976,"journal":{"name":"Vestnik Mezhdunarodnykh Organizatsii-International Organisations Research Journal","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2022-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48901004","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-15DOI: 10.17323/1996-7845-2022-04-06
V. Kuzmin, A. Portanskiy
Recent technological trends and, particularly, the global technology fracture, significantly affect power distribution in the world economy. However, the problems that arise due to these tendencies and their possible consequences for the economic world order remain understudied. This article assesses the impact of the global technology fracture on economic leadership in the context of the contradictions of the West-East development models, taking into consideration both interstate conflicts in the innovative field and the rising power of big-tech companies. Complex index construction is employed to formalize the concept of leadership in the world economy and a panel data regression model is used for estimating effects of the technology fracture on it. The sample contains data on major macroeconomic and technological indicators for 30 western and 10 Asian countries from 2010 to 2019. As a result, it is concluded that the presence of a clear plan for the implementation of information and communication technologies by the state can have a positive impact on the economic leadership of a country, and the growing importance of technology giants has a negative impact on this indicator. Finally, this article contributes to a better understanding of the economic leadership concept among scholars and draws policymakersʼ attention to the necessity of new regulations in the technological sphere.
{"title":"The Impact of the Global Technological Divide on World Economic Leadership, Using Examples From a Number of Developed and Developing Countries","authors":"V. Kuzmin, A. Portanskiy","doi":"10.17323/1996-7845-2022-04-06","DOIUrl":"https://doi.org/10.17323/1996-7845-2022-04-06","url":null,"abstract":"Recent technological trends and, particularly, the global technology fracture, significantly affect power distribution in the world economy. However, the problems that arise due to these tendencies and their possible consequences for the economic world order remain understudied. This article assesses the impact of the global technology fracture on economic leadership in the context of the contradictions of the West-East development models, taking into consideration both interstate conflicts in the innovative field and the rising power of big-tech companies. Complex index construction is employed to formalize the concept of leadership in the world economy and a panel data regression model is used for estimating effects of the technology fracture on it. The sample contains data on major macroeconomic and technological indicators for 30 western and 10 Asian countries from 2010 to 2019. As a result, it is concluded that the presence of a clear plan for the implementation of information and communication technologies by the state can have a positive impact on the economic leadership of a country, and the growing importance of technology giants has a negative impact on this indicator. Finally, this article contributes to a better understanding of the economic leadership concept among scholars and draws policymakersʼ attention to the necessity of new regulations in the technological sphere.","PeriodicalId":42976,"journal":{"name":"Vestnik Mezhdunarodnykh Organizatsii-International Organisations Research Journal","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2022-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41698790","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-15DOI: 10.17323/1996-7845-2022-04-05
Xue Fan, K. Kondakova
On 24 February 2022, Russian president Vladimir Putin, during his address to the citizens of Russia, announced a special military operation in Ukraine. Since then, the international environment on the Eurasian continent, and the world order that has existed for 30 years after the Cold War, has changed. The armed conflict in Ukraine, which occurred as a result of North Atlantic Alliance (NATO) policy, has revealed once again the differences between the approaches of Russia, China, and western countries to world order and multilateral cooperation. This article analyzes the principles of activity, goals, and decision-making mechanisms of two key international security organizations—the Shanghai Cooperation Organisation (SCO) and NATO. Thus, this article defines the characteristic features of NATO and SCO approaches to ensuring regional security. In addition, in view of the suspension of Russia's membership in many international organizations and the adoption of a new NATO Strategic Concept, it seems especially relevant to intensify cooperation within the organizations in which the Russian Federation retains enduring influence. In this regard, the issues and the prospects for developing and strengthening the SCO’s role on the world stage in the context of the current geopolitical situation were also considered.
{"title":"NATO and SCO: conceptual foundations and their implementation in the work of organizations","authors":"Xue Fan, K. Kondakova","doi":"10.17323/1996-7845-2022-04-05","DOIUrl":"https://doi.org/10.17323/1996-7845-2022-04-05","url":null,"abstract":"On 24 February 2022, Russian president Vladimir Putin, during his address to the citizens of Russia, announced a special military operation in Ukraine. Since then, the international environment on the Eurasian continent, and the world order that has existed for 30 years after the Cold War, has changed. The armed conflict in Ukraine, which occurred as a result of North Atlantic Alliance (NATO) policy, has revealed once again the differences between the approaches of Russia, China, and western countries to world order and multilateral cooperation. This article analyzes the principles of activity, goals, and decision-making mechanisms of two key international security organizations—the Shanghai Cooperation Organisation (SCO) and NATO. Thus, this article defines the characteristic features of NATO and SCO approaches to ensuring regional security. In addition, in view of the suspension of Russia's membership in many international organizations and the adoption of a new NATO Strategic Concept, it seems especially relevant to intensify cooperation within the organizations in which the Russian Federation retains enduring influence. In this regard, the issues and the prospects for developing and strengthening the SCO’s role on the world stage in the context of the current geopolitical situation were also considered.","PeriodicalId":42976,"journal":{"name":"Vestnik Mezhdunarodnykh Organizatsii-International Organisations Research Journal","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2022-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46512947","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-15DOI: 10.17323/1996-7845-2022-04-07
M. Girich, I. Ermokhin, A. Levashenko
Today, a crypto economy is actively developing throughout the globe based on the use of cryptographic technologies for the creation of new digital products, including the issuance of digital financial instruments. The topic of regulation of digital financial assets (hereinafter referred to as DFA) is relevant in the world: since 2019, some countries, including Russia, began to introduce legal norms regarding the issuance of DFA, as well as the sale and turnover of such assets on the market. This article compares approaches to the regulation of DFA in Russia and globally, including the issue of determining financial instruments that will be related to these assets, aspects of the procedure for issuing, storing, and trading them, including the basic rights and obligations of issuers and investors in such assets, and the features of the operation of trading floors and platforms for issuing DFA. In general, two approaches to the regulation of DFA can be distinguished. The first approach is the application of existing rules to tokenized assets (for example, laws on securities and financial instruments); this approach is used in the United States. The second is regulation through the introduction of a new framework for the application of distributed ledger technology in financial services, for example, in Russia, Germany, Luxembourg, the European Union (EU), and Switzerland. This article examines the second approach, which is currently implemented in Russia, to identify differences with foreign regulation, for example, the use of custodian institution for accounting and storing digital assets, converting DFA into traditional financial assets, and creating rules for trading digital financial assets.
{"title":"Comparative Analysis of the Legal Regulation of Digital Financial Assets in Russia and Other Countries","authors":"M. Girich, I. Ermokhin, A. Levashenko","doi":"10.17323/1996-7845-2022-04-07","DOIUrl":"https://doi.org/10.17323/1996-7845-2022-04-07","url":null,"abstract":"Today, a crypto economy is actively developing throughout the globe based on the use of cryptographic technologies for the creation of new digital products, including the issuance of digital financial instruments. The topic of regulation of digital financial assets (hereinafter referred to as DFA) is relevant in the world: since 2019, some countries, including Russia, began to introduce legal norms regarding the issuance of DFA, as well as the sale and turnover of such assets on the market. This article compares approaches to the regulation of DFA in Russia and globally, including the issue of determining financial instruments that will be related to these assets, aspects of the procedure for issuing, storing, and trading them, including the basic rights and obligations of issuers and investors in such assets, and the features of the operation of trading floors and platforms for issuing DFA. In general, two approaches to the regulation of DFA can be distinguished. The first approach is the application of existing rules to tokenized assets (for example, laws on securities and financial instruments); this approach is used in the United States. The second is regulation through the introduction of a new framework for the application of distributed ledger technology in financial services, for example, in Russia, Germany, Luxembourg, the European Union (EU), and Switzerland. This article examines the second approach, which is currently implemented in Russia, to identify differences with foreign regulation, for example, the use of custodian institution for accounting and storing digital assets, converting DFA into traditional financial assets, and creating rules for trading digital financial assets.","PeriodicalId":42976,"journal":{"name":"Vestnik Mezhdunarodnykh Organizatsii-International Organisations Research Journal","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2022-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42864711","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-01DOI: 10.17323/1996-7845-2022-03-01
Jiejin Zhu, Yuhang Wei
This paper has explored the interactions between China and the WTO, arguing that it can be divided into three different stages, ranging from difficult access to comprehensive adaptation and to partial leadership. Through the three stages, the conflict and resolution of the dilemmas of market economy status and developing country status is the driving force. In the difficult access period, the market economy dilemma embodies the optional safeguard measures and antidumping measures and the developing country dilemma embodies the access to the market of finance, insurance, and telecommunication in the negotiation of China’s entry to the GATT/WTO. In the comprehensive adaption period, China, out of defending its own market economy status, has been using the WTO rules to counter America’s demands on China such as anti-dumping proceedings and the criticism of “stagnation of China’s reform”. Meanwhile, China still has been sticking to its special and differential treatment of developing country status. In the period of partial leadership, while insisting that it is a developing country, China has strategically advocated that developing countries should realize its national interest by adopting the new policy of “open for development”, embodying its leadership in the emerging issues of WTO negotiations such as the e-commerce and investment facilitation.
{"title":"China and the WTO: From Difficult Access to Partial Leadership","authors":"Jiejin Zhu, Yuhang Wei","doi":"10.17323/1996-7845-2022-03-01","DOIUrl":"https://doi.org/10.17323/1996-7845-2022-03-01","url":null,"abstract":"This paper has explored the interactions between China and the WTO, arguing that it can be divided into three different stages, ranging from difficult access to comprehensive adaptation and to partial leadership. Through the three stages, the conflict and resolution of the dilemmas of market economy status and developing country status is the driving force. In the difficult access period, the market economy dilemma embodies the optional safeguard measures and antidumping measures and the developing country dilemma embodies the access to the market of finance, insurance, and telecommunication in the negotiation of China’s entry to the GATT/WTO. In the comprehensive adaption period, China, out of defending its own market economy status, has been using the WTO rules to counter America’s demands on China such as anti-dumping proceedings and the criticism of “stagnation of China’s reform”. Meanwhile, China still has been sticking to its special and differential treatment of developing country status. In the period of partial leadership, while insisting that it is a developing country, China has strategically advocated that developing countries should realize its national interest by adopting the new policy of “open for development”, embodying its leadership in the emerging issues of WTO negotiations such as the e-commerce and investment facilitation.","PeriodicalId":42976,"journal":{"name":"Vestnik Mezhdunarodnykh Organizatsii-International Organisations Research Journal","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2022-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42451204","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-01DOI: 10.17323/1996-7845-2022-03-09
A. Shelepov
Data are not a new economic resource, but their level is now growing at an unprecedented rate as a result of digital devices and services proliferation. Analysis of emerging national data regulatory systems shows significant differences in country approaches, especially in relation to cross-border data flows, depending on economic specifics and national interests. Differences in approaches between major actors pose challenges for other countries, increase the fragmentation of the global regulatory environment, create uncertainty, and multiply compliance costs for businesses. These factors determine the importance of international cooperation on data governance. The author reviews the approaches of four BRICS countries – China, India, Brazil and South Africa – to data governance, primarily regulations of cross-border flows, as well as data localization requirements. Based on the results of the review, general trends of the reviewed countries’ approaches to data governance have been identified, leading to the conclusion that BRICS cooperation can be strengthened, primarily in the area of mutual recognition of the existing and discussed data protection measures adequacy to ensure mutually beneficial cross-border data movement.
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