Title: Economic and political impact of globalisation on the export operations of OPEC member countries
Authors: Ludmila Kharchenko; Larisa Efimovа; Yulia Loktionova; Eva Pugacheva; Evgenia Budko
Addresses: Department of Sociology and Psychology, Saint-Petersburg Mining University, Saint-Petersburg, 199106, Russia ' Department of Economic Security, Analysis and Audit, Russian State Agrarian University – Moscow Timiryazev Agricultural Academy, Moscow, 127550, Russia ' Department of Finance and Credit, Russian State Social University, Moscow, 121433, Russia ' Department of Medical Biophysics, Far Eastern Federal University, Vladivostok, 690922, Russia ' Department of State and Municipal Management, Russian State Agrarian University – Moscow Timiryazev Agricultural Academy, Moscow, 127550, Russia
Abstract: Modern resource markets are globalised, which gives significant advantages to countries that own these resources. The proceeds from the sale of resources to global markets can serve as a financial phase for the implementation of important government development programmes in a country. The paper examines the influence of the economic and political aspects of globalisation on the export operations of OPEC and OPEC+ member countries. A statistical study of the dependence of export volume dynamics on the KOF Globalisation Index and its components was carried out, which made it possible to quantitatively assess the impact of political and economic globalisation on OPEC countries' exports by developing a mathematical model that would describe the relationship between these indicators. The OPEC and OPEC+ countries were grouped depending on those components of the globalisation indicator that affect export volumes, that is, according to the level of countries' involvement in globalisation.
Keywords: globalisation; internationalisation; political institutions; raw material exports; resource curse; resource markets.
International Journal of Trade and Global Markets, 2022 Vol.16 No.4, pp.265 - 283
Received: 03 Dec 2020
Accepted: 14 Jan 2021
Published online: 18 Jan 2023 *