Investment Cooperation of the EAEU Countries and Latin America in Modern Conditions
https://doi.org/10.21869/2223-1552-2023-13-6-10-18
Abstract
The relevance of the study is related to the trend of the states of the "global" South towards a polycentric world, accompanied by an independent foreign economic course.
The EAEU is interested in expanding cooperation with Latin American countries.
The purpose is to conduct a comparative analysis of the macroeconomic indicators of the EAEU and LAC countries and FDI destinations based on statistical data.
Objectives: to analyze the current state of macroeconomic indicators of the integration associations of the EAEU and LAC in order to identify identical development indicators; to characterize the country and sectoral directions of FDI of the EAEU countries in the countries of Latin America and the Caribbean in comparison with similar investments of the countries of the "collective" West and the United States.
Methodology. Investment cooperation is analyzed within the framework of the theory of structural functionalism (Parsons) using macroeconomic indicators of foreign trade cooperation based on UNCTAD statistics on world investments, data from the central banks of Bolivia, Brazil, statistical agencies CEPAL and the Bank of Russia.
Results. It has been proved that investment flows between the EAEU and LAC have developed unevenly, and the volume of investments has fluctuated significantly. This trend reflects the general stagnation of the EAEU's investment activity in Latin America outside the commodity sectors. The leading sector attracting investment is the software and IT services sector in LAC.
Conclusions. There is a trend towards an increase in the volume of trade turnover between the regions of the EAEU and the LAC, but investment cooperation between the countries is slowed down due to the logistical inaccessibility of the region, the insufficient development of the port infrastructure of the LAC, the lack of interbank relations, and insufficient state support in the LAC.
About the Authors
V. M. Kuzmina
Southwest State University
Russian Federation
Russian Federation
Violetta M. Kuzmina, Cand. of Sci. (History), Associate Professor
Department of International Relations and Public Administration
305040
50 Let Oktyabrya Str. 94
Kursk
A. I. Pykhtin
Southwest State University
Russian Federation
Russian Federation
Alexei I. Pykhtin, Cand. of Sci. (Engineering), Associate Professor, Vice-Rector for Digital Transformation
305040
50 Let Oktyabrya Str. 94
Kursk
Researcher ID: D-8761-2015
References
1. Gligo N. Politicas activas para atraer inversión extranjera directa en América latina y el Caribe. Available at: https://www.cepal.org/sites/default/files/publication/files/4572/S0700049_es.pdf. (accessed 10. 09. 2023)
2. Investment Policy Framework for Sustainable Development. Available at: https://investmentpolicy.unctad.org/publications/149/unctad-investment-policy-framework-for-sustainable-development (accessed 10. 09. 2023)
3. Volpe Martincus C., eds. Making the Invisible Visible: Investment Promotion and Multinational Production in Latin America and the Caribbean. Washington, D. C., Inter-American Development Bank, 2021. 297 p.
4. International investment implications of Russia’s war against Ukraine. Available at: https://www.oecd.org/publications/international-investment-implications-of-russia-s-war-against-ukraine-a24af3d7-en.htm. (accessed 10. 09. 2023)
5. Fania N., Yan C., Kuyon J. B., Djeri S. Geopolitical risks (GPRs) and foreign direct investments: A business risk approach. Global Journal of Management And Business Research, 2020, vol. 20, is. B1, pp. 1‒9.
6. The World Bank in Latin America and the Caribbean. Available at: https://www.worldbank.org/en/region/lac/overview#1. (accessed 10. 09. 2023)
7. FDI Qualities Policy Toolkit. Available at: https://www.oecd.org/industry/inv/investment-policy/fdi-qualities-policy-toolkit-7ba74100-en.htm (accessed 10. 09. 2023)
8. Frick S. A., Rodriguez-Pose A. What draw investments to special economic zones? Lessons from developing countries. Regional Studies, 2023, vol. 57, is. 11, pp. 136‒147.
9. Noguez R. Mondelez concreta compra de Ricolino a Grupo Bimbo por US$ 1?367 millones. Available at: https://forbes.cl/negocios/2022-11-02/bimbo-da-el-adios-final-a-paleta-payasomondelez-concreta-compra-de-ricolino/. (accessed 10. 09. 2023)
10. Cemex dice adios a Costa Rica y El Salvador, vende sus activos por 328 mdd. Available at: https://www.forbes.com.mx/cemex-dice-adios-a-costa-rica-y-el-salvador-vende-susactivos-por-328-mdd/ (accessed 10. 09. 2023)
11. Parsons T. Structure and processes in modern society. New York, Free Press of Glencoe, 1960. Available at: https://openlibrary.org/books/OL6270072M/Structure_and_process_in_modern_societies (accessed 10. 09. 2023)
12. Corporate income taxes and investment incentives: A global review. Available at: https://unctad.org/system/files/official-document/diaepcbinf2022d3_en.pdf (accessed 10. 09. 2023)
13. Foreign Direct Investment in Figures-OECD. Available at: https://www.oecd.org/investment/investmentnews.htm (accessed 10. 09. 2023)
14. Avance de cifras 2022. Balanza de Pagos y Posicion de Inversion Internacional. Available at: https://www.bcb.gob.bo/webdocs/publicacionesbcb/2023/04/55/Avance%20BoP%202022.pdf (accessed 10. 09. 2023)
15. Relatorio de Investimento Direto. Available at: https://www.bcb.gov.br/publicacoes/relatorioid (accessed 10. 09. 2023)
16. Statistics and Indicators. Economic. Available at: https://statistics.cepal.org/portal/cepalstat/dashboard.html?theme=2&lang=en (accessed 10. 09. 2023)
17. Pryamye investitsii iz Rossiiskoi Federatsii za rubezh: operatsii po instrumentam i stranam-partneram [Direct Investments from the Russian Federation Abroad: Operations on Instruments and Partner Countries]. Available at: http://cbr.ru/vfs/statistics/credit_statistics/direct_investment/18-dir_inv.xls (accessed 10. 09. 2023)
18. Analiticheskii doklad "Evraziiskii ekonomicheskii soyuz i strany Latinskoi Ameriki i Karibskogo basseina: transgranichnoe partnerstvo" [Analytical Report "The Eurasian Economic Union and the Countries of Latin America and the Caribbean: Cross-Border Partnership"]. Available at: https://eec.eaeunion.org/upload/medialibrary/9e4/EKLAK_18.06.pdf (accessed 10. 09. 2023)
19. Rossiya i Latinskaya Amerika: vzaimodeistvie v usloviyakh menyayushchegosya miroporyadka [Russia and Latin America: Interaction in the Conditions of the Changing World Order]; ed. by. A. V. Kuznetsov, P. P. Yakovlev. Moscow, Institute of Scientific Information on Social Sciences of the Russian Academy of Sciences Publ., pp. 39‒133.
20. Sotrudnichestvo EAES i stran Latinskoi Ameriki i Karibskogo basseina vykhodit na novyi uroven' [Cooperation between the EAEU and the countries of Latin America and the Caribbean is reaching a new level]. Available at: https://www.tks.ru/news/nearby/2021/07/01/0014/ (accessed 10. 09. 2023)
Review
For citations:
Kuzmina V.M., Pykhtin A.I. Investment Cooperation of the EAEU Countries and Latin America in Modern Conditions. Proceedings of the Southwest State University. Series: Economics. Sociology. Management. 2023;13(6):10-18. (In Russ.) https://doi.org/10.21869/2223-1552-2023-13-6-10-18
Views:
176
Email this article 