Importance The article overviews expertise of countries, which created their considerable competitive advantages through value chains. It also analyzes the main errors Russia committed when integrating into the international division of labor. Objectives The research analyzes the value in terms of external and internal competition. Results We described Russia's errors of integrating into the international cooperation. We divided them into two groups of internal and foreign economic policy and specified them accordingly. Conclusions and Relevance Under current circumstances, import substitution initiatives should be implemented prudently, understanding associated risks. If all steps of value delivery are performed within the national economy, it may, to the certain extent, impede technological development, since an involvement into global value chains contributes to growth in labor productivity. We formulated the main principles, which Russian companies should take into account to set up new cooperative relations with new partners.
Keywords: international division of labor, international cooperation, value chains, value added distribution, barriers
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