Финансы: теория и практика (Sep 2017)
FORMATION OF SUSTAINABLE COMPETITIVE ADVANTAGES OF THE EAEU MEMBER STATES IN THE INVESTMENT SPHERE
Abstract
At present, in the member states of the Eurasian Economic Union (EAEU) and in the integration association as a whole, the main macroeconomic indicators worsen, including those in the investment sphere. The analysis shows a decrease in the indicators of economic growth, level of gross accumulation and attracted current and accumulated FDI in the national economies of the overwhelming majority of the EAEU countries, which makes it urgent and necessary to find new methodological and practical approaches to enhancement of the efficiency of integration processes. In connection with this, along with traditional systemic and institutional approaches, it is proposed to use a conceptual approach based on the formation of sustainable competitive advantages (SCA) of national economies. Using this methodology, the article considers the content and criteria of the SCA, factors of reduction of the investment cooperation of the EAEU member states, key directions for the formation of the SCA in the investment sphere. Based on the analysis of the investment and business climate, the harmonization of national legislations, the process of formation of a single financial market, proposals on the formation of the SCA in the investment sphere are elaborated. The authors propose to provide the gradual nature of this process, the gradual transition from the use of resource advantages to operational competitive advantages reflecting the efficiency of the use of natural, human resources and capital and allowing to reduce the costs of production and enhance competitiveness of goods and services. A higher level of SCA is provided by the transition to an innovative economy that allows to receive technological and intellectual rents, as well as through the use of strategic competitive advantages that determine the positioning of national economies and integration associations in the context of hypercompetition in the global economy, the direction and the trajectory of their development and cardinal possibilities of transformation of resource and operational competitive advantages in the sustainable on the basis of synergetic effects, the use of breakthrough scientific and technological achievements. The proposed stage of achieving the SCA allows to use these methodological approaches to solve the problems of increasing the competitiveness of national economies and integration associations in general. It is shown that in this case it is expedient to start from the following components: the priority of national interests over other levels of competition; expansion of the idea of the factors shaping the SCA, including not only performance indicators, but also the criteria of national and economic security.
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