National Interests: Priorities and Security
 

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Analyzing the supranational organization of the Russian economy and emerging economies

Vol. 16, Iss. 5, MAY 2020

Received: 24 October 2019

Received in revised form: 16 November 2019

Accepted: 5 December 2019

Available online: 15 May 2020

Subject Heading: CHALLENGES OF GLOBALIZATION AND THEIR IMPLICATIONS

JEL Classification: F01, F02, F42, F47, F49

Pages: 950–965

https://doi.org/10.24891/ni.16.5.950

Smirnov V.V. I.N. Ulianov Chuvash State University (ChuvSU), Cheboksary, Chuvash Republic, Russian Federation
v2v3s4@mail.ru

https://orcid.org/0000-0002-6198-3157

Mulendeeva A.V. I.N. Ulianov Chuvash State University (ChuvSU), Cheboksary, Chuvash Republic, Russian Federation
alena-mulendeeva@yandex.ru

https://orcid.org/0000-0002-9852-9804

Subject. The article discusses the supranational organization of economies and analyzes the potential of the supranational organization of Russia and emerging economies.
Objectives. The study explores an optimal format for the supranational organization of the Russian economy and emerging economies in the multipolar world.
Methods. Research is based on the systems approach and methods of cluster and statistical analysis.
Results. The article unveils the phenomenon of supranational organization as a result of the transformed world order and transition to the multipolar world. The multipolar world engenders entropy, which can be tackled through the supranational organization. We determined priority countries, functional purposes and efficiency of the supranational organization of the Russian economy and priority economies. BRICS seems to be the most appropriate form of supranational organization for the Russian economy and emerging economies, being led by China and Brazil. China should actively invest in the Russian economy. Russia continues to observe functional priorities with respect to China and Brazil and protects the sovereignty of the national structure and functions.
Conclusions and Relevance. The multipolar world engenders entropy, which undermines the stability of the global economy. Supranational organization helps overcome entropy. BRICS is the most appropriate vehicle of supranational organization for the Russian economy and emerging economies, being led by China and Brazil. The findings can be used to discover supranational organizations of the Russian economy and spotlight lines of international cooperation.

Keywords: cluster analysis, international cooperation, supranational organization, emerging economies, entropy, multipolar world

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