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Abstract: Description of the main objectives of the study. The main purpose of
the study of the scientific article is a formulation of complex methods of effective
regulation of transnational business in the modern economy of Azerbaijan. To
the main directions to achieve the purposes is assigned: general regulation of
transnational business at the country level; regulation of transnational business
at the industry level (foreign trade); regulation at the transnational corporations level (SOCAR)
A brief description of the methodology. Developed a complex methods and methods of the study the effectiveness of the transnational business of the republic
on the following parameters: transnational business performance indicators at
the country level; transnational business performance indicators at the industry
level (foreign trade); grouped performance indicators at the transnational corporations level (SOCAR)1
Generalization of the most important research results and their significance.
These primarily include the following:
- Calculation of the indicators of the effective regulation of transnational business in the country, which were carried out on the basis of indices of competitiveness;
- Calculated indicators of effectiveness of regulation of transnational business
at the industry level, which were carried out on the basis of parameters of efficiency of export, import, export and import operations;
- defined indexes transnationalization and revealed the extent of their impact on
the effectiveness of regulation of transnational corporations.
Keywords: transnational business, effectiveness of regulation, effect and effectiveness of export, import, index of transnationalization.
1. Introduction
Formation of transnational business, though based on certain general
principles, in different countries, this process takes place in isolation, since the
* Azerbaijani state economic university, associate professor "Trade", Candidate of Economic
Sciences, associate professor (AZ1 138, to Mr. Buck of V. Aliyev St., 150, ph.;
allahverdiyeva_muslumat @mail.ru)
1 SOCAR -State oil company of the Azerbaijan
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specific features are taken into account in various areas, including socioeconomic, structural and organizational, national-ethnic aspects of the development of a State.
The above fully applies to research regulation of transnational business
in the Azerbaijan Republic, which is to be their separateness view in selecting
a clear methodology in studies of transnational business, which makes this area
particularly relevant and meaningful.
The relevance and context of the study. In the theoretical aspect, though
there are serious studies on the theory and methodology of regulation of transnational business of TNCs in the modern theory insufficiently investigated the
characteristics and problems of the functioning of transnational structures under the new conditions, in particular economic systems transformed. Polemic
is the problem of long-term stable sources of solving activity regulation of
transnational business in the global economy and the boundaries of their expansion. Particular typological group of forms, methods and ways of conducting transnational business form TNCs those countries that are dealing with the
problems of energy (oil and gas). The largest domestic TNCs are included in
the ratings of the largest non-financial TNCs worldwide. Therefore, the analysis of the current state of development of new areas of global and regional development of transnational business will allow Azerbaijan to take into account
the world experience in order to create public policies that contribute to the
support of the reforms, justified in the developed world. Problems of research,
hypothesis and validity of the work. In recent years, when the international
transnational business has become one of the most popular and dynamic components of the globalization process, especially the interest in it has increased.
Conducted by domestic and foreign scholars analysis of contemporary
processes of transnationalization says multifaceted nature of the functioning of
this type of business. That is why TNK become objects of research, not only in
economics, but in other areas. In this study, it appears necessary to define positions of Azerbaijan in transnational business, identify its role in the regulation
of international business.
Among Western scholars study the problems of transnational business,
including its regulation actively engaged in well-known scientists. In particular, the studies revealed that most of the scientists approach to the regulation of
multinational companies from the legal aspects of the problem. H. MacDougall, William Friedman believes multinational companies are subjects of the
international law (8). In the regulation of transnational business
O.V.Lokaychuk, S.V.Chernichenko, I.I.Lukaschuk opposes the transfer of the
powers of government to multinational companies and turning them into subjects of international law. (9) In his writings, the authors point to the fact that
charging taxes implementing social protection, competition policy the government carries out its direct functions and transnational only protect the interests of private capital. EV Anisimov point the importance of the management
of transnational business and justifies the need for a new World Organization
Investment Cooperation (2) .I.S.Krylov brings to the fore the political mechanisms of regulation of transnational business (3).
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The Commission has developed indicators, assessing the level of transnationalization of the corporation and its weight in the economy of the host countries. The indicator called transnationalization index - the average value of the
sum of three ratios: foreign assets to the value of their total cost; foreign sales
to total sales of the corporation; the ratio of the number of employees in foreign structural units to the total employment in TNCs [21].
Metod quantification of direct investment
The simplest way is to compare the absolute volume of direct investment
(P), or their share in the total volume of investments in this or that country on
the basis of the index received investments. However, it does not take into account the size of the recipient country, as well as other factors affecting the volume of incoming PII to: political and macroeconomic stability, the degree favored PII; competitiveness of the economy, the availability of natural and human resources.
In 2003, UN experts have developed a new index - the index of attracted
investments of UNCTAD, defined as the ratio of the country share in total
flows of PII to its share in the worldwide VVP [16].
Metod definition index investment potential incoming UN experts also
developed an index ranks countries on the potential of attracting investment the index of potential incoming investment, UNCTAD, based on structural
economic factors that change slowly, so jump in the level of the index only exist in developing countries .
Thus, we can conclude that the system of methods and teaching techniques of research of regulation of transnational business and multinational
corporations to include such performance indicators, which would include the
following parameters and indicators: transnational business performance indicators at the national level (the index of competitiveness); industry performance indicators transnational business (indexes of foreign trade, including
import, export, and import-export operations); performance indicators of
transnational corporations (transnationalization index).
mpirical results
In this section, we analyzed in three ways the state regulation of transnational business in Azerbaijan on the basis of the chosen method of analysis.
With the proposed method are tested and approved by the empirical results of
our offer. The studies allow you to group control system of transnational business in a particular country, in particular in the Republic of Azerbaijan.
This hypothesis is based on the results obtained based on empirical research in the following areas:
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192
During the 2005-2013 biennium. the total output of goods and services
increased to 20252.33 million AZN 81061.5 million AZN or up 4.0 times; intermediate consumption - to 8676.3 million AZN 27043.6 million AZN or up
3.1 times; Taxes on production and imports - with 974.1 million AZN 3874.1
million AZN or up to 4.0 times; Subsidies on production - with 27.6 million
AZN to 184.0 million AZN or 6.7 times; GDP at market prices - to 12522.5
million AZN 57708.2 million AZN or up 4.6 times. (17)
During the study period, the actual final consumption expenditure increased from 6579.7 million AZN 30838.2 million AZN or up 4.7 times, including the actual final consumption expenditure - to 5931.6 million AZN to
26,934,600,000. manat or 4.5 times; accumulation of fixed assets - up to
5171.9 million AZN 14179.3 million AZN or 2.7 times; net exports of goods
and services - to 1257.3 million AZN 12611.6 million AZN, or to 10.1 times;
export - 7881.8 million AZN up to 28117.7 million AZN or 3.6 times; imported from 6624.5 million AZN 15506.1 million AZN, or to 2.3-fold, and
others.
Another indicator of regulation of transnational business at the country
level can be regarded as an account of economic transactions with the rest of
the world [18, c. 386] During 2005-2013. here changes were as follows:
a) the accounts of foreign trade of goods and services - -7,881.8 million
AZN and -29000.3 million AZN; imports of goods and services 6624.5 million
AZN and 138,443.8 million AZN; the trade balance - -1,257.3 million AZN
and -15,156.5 million AZN;
b) an account of the income received and current transfers from abroad:
Wages remain the world - 106.2 million AZN and 141.7 million AZN; cast
property income - 1641.5 million AZN 4115.0 million AZN, and; presented
current transfers - 134.6 million AZN 1573.6 million AZN, and; received salaries from the rest of the world - -254.3 -405.4 million AZN million AZN, and;
received income from the property - -65.1 -752.3 million AZN million AZN,
and; Current transfers received - 1156.2 million AZN and 1979600000. manats; current external balance - -850.6 million AZN and -12463.7 million
AZN;
c) an account of external capital transactions: the external current balance
- -850.6 mln.man. and -1246.7 mln.man .; received the remaining transfers - 66.4 -19.4 million AZN million AZN, and; issued by the main transfer - 27.6
million AZN and 9.6 million AZN;
d) loan from equity or net debt - to 373.7 million AZN 12473.3 million
AZN up.
An important indicator of national accounts for regulation of transnational business is considered the national income.
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During the 2005-2012 biennium. changes in the national income occurred as follows: human maturity - 2820.5 million AZN and 8961200000.
manats; taxes on production and import - 1071.2 million AZN and 3930.0 mln.
manat; subsidies - -27.6 -158.8 million AZN million AZN, and; total profit 8658.4 million AZN 42011.3 million AZN, and; GDP at market prices 12522.5 million AZN 54743.7 million AZN, and; receive wages with the rest
of the world - 254.3 million AZN and 405.4 million AZN; issued salary remains the world - -106.2 -141.7 million AZN million AZN, and; received income from the property - 65.1 million AZN and 752.3 million AZN; Devoted
to profit from property - -1,641.5 -4,115.0 million AZN million AZN, and;
remnants of primary total profit - 11094.2 million AZN 51644.7 million AZN,
and; use of fixed assets - 1244.3 million AZN 2566.2 million AZN, and; net
national income - 9849.9 million AZN and 497,078.5 million AZN; Current
transfers received - 1156.2 million AZN 1979.6 million AZN, and; issued by
the current transfers - -134.6 -1,573.6 million AZN million AZN, and; remaining at the disposal of the net income - 10871.5 million AZN 49484.5 million
AZN and. In the area of transnational business at the level of the country's
prominent place given to balance of payments. (18)
In the period from 2005 to 2013. the current account increased from
167,315 tys.dol. US to 1237836 thous. Dollars. US or 73.6 times; goods and
services - to 1329081 thous. dollars. US to 16431769 thousand. Dollars. US or
12.4 times; the trade balance - with 3299105 thousand. dollars. US to
20620777 thousand. Dollars. USA, or 6.2 times.
During this period the negative can be considered the following indicators: income - -1645637 thousand. Dollars. US and -4120587 thousand. Dollars. USA; Current transfers - - 48 371 thousand. dollars. The United States
and 49995 thousand. Dollars. USA; Financial current accounts and capital 565 980 thousand. dollars. US and -6501734 thousand. Dollars. USA. [19, s.
395].
Finally, the regulation of transnational business at the national level can
be carried out through international competitive ability of indexes. In particular, the competitive ability of indexes of individual countries makes it possible
to determine the socio-economic condition of the country to achieve economic
growth in the medium term.
The main groups of factors that determine the index include: main (existing state institutions, infrastructure, economy, health and education); increased
efficiency (productive efficiency of the market, innovation and modern communication technology and education); innovation (entrepreneurship, innovation). [20].
According to the 2013-2014 World Economic Forum, the top-rated performance are: Switzerland (5.67), Singapore (5.61), Finland (5.54), Germany
(5.51), the United States (5.48) Sweden (5.48), Hong Kong (5.47),
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the Netherlands (5.42), Japan (5.40), the UK (5.37), Norway (5.33), Taiwan (5.29), Qatar (5.24), Canada (5.20), Denmark (5.18), Austria (5.15), Belgium (5.13), New Zealand (5.11), the UAE (5.11). Azerbaijan occupies the 39
position.
Components of the index figures increasing the competitiveness of individual countries in detail offered us.
Components of the index figures increasing the competitiveness of individual countries in detail offered us.
According to this indicator in the top ten countries with a higher rating
index include: Singapore (5.9), Hong Kong (5.5), the Netherlands (5.3), New
Zealand (5.2), Finland (5.2), UK (5.2), Switzerland (5.2), Chile (5.1), Sweden
(5.1), Germany (5.1).
Azerbaijan occupies the 77 position with an index rating of 3.9.
The next group of indices includes the available market sub index and internal market indices.
By the first measure of ratings indices were as follows: Chile (5.5), Singapore (5.5), Malta (5.3), Peru (5.0), Libya (4.8), El Salvador (4.7), Nicaragua
(4.7), and Costa Rica (4.7. Azerbaijan occupies the 66 positions (3.6), and
Germany - 75 (3.4).
Calculation of the effective regulation of transnational business at the industry level (foreign trade)
Studies have shown that regulation of transnational business at branch
level are mainly related to foreign trade, including export-import operations.
Of particular importance in the regulation of transnational business acquires a
transnational corporation SOCAR (State oil Company of the Azerbaijan Republic), since a significant proportion of the foreign trade turnover of the republic falls in energy and their components.
In order to identify the parameters of regulation of transnational business
at the industry level, we propose the following sequence of research:
- Systematic analysis of the dynamics of foreign trade, including exports
and imports;
- Research and analysis of foreign trade turnover by types of operations;
- Examination and diagnosis of the external trade classification standards
of international trade;
- Determination of the export quota of the republic;
- Determination of the import quota of the republic;
- Determination of the quota of foreign country;
- Determination of the share of exports in total exports of the Republic;
- Determination of the export quota in the production industry of the
country;
- Determination of structural specialization of industries;
- Determination of the coefficient of relative export specialization of the
industry.
We carry out research on the above sequence.
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Estimated
quota
2005
2006
2007
2008
2009
2010
2011
2012
2013
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Estimated quota
2005
2006
2007
2008
2009
2010
2011
2012
2013
The
export
quota, Ii,%
31,8
25,1
17,3
14,7
13,8
12,5
14,8
13,8
14,6
The volume
of exports i
4211,2
5266,7
5713,5
7170,0
6123,1
6600,6
9756,0
9652,9
10712,5
Gross domestic
product, GDP
13238,7
20983,0
33050,3
48852,5
44297,0
52909,3
65951,6
69683,9
73560,5
Determination of foreign quota The results are, by definition, foreign quota of the republic are presented in Table 6. data indicate that the highest
rates of foreign trade quota during the study period accounted for 2008
(112.4%), and the remaining years of the oscillation was 35 1% to 65%.
By international standards the optimal quota of foreign trade should
reach up to 60-70%. Therefore, it is necessary to increase the effectiveness of
regulation of foreign trade quota of the republic that the oscillation is in the
range from 60% to 70%.
Table number 6
Determination of foreign quota million USD [13,18,19].2
Years Design formula.
The export
quota, Iv,%
2005
2006
2007
65,0
55,5
35,6
197
The volume of
exports, +
and
8558,4
11638,9
11771,7
2008
2009
2010
2011
2012
2013
112,4
47,0
52,8
55,1
48,2
47,1
54926,0
20824,5
27960,8
36326,9
33560,9
34687,9
48852,5
44297,0
52909,3
65951,6
69683,9
73560,5
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Years
2009
2010
2011
2012
2013
Design
mula
The
volume
of
industrial
production, PP
21332,2
22455,3
27660,7
27154,3
26447,4
Years
2009
2010
2011
2012
2013
Design
formula
Ratio of
The
relative export share of exspecialization
ports
of
sector, Io
goods in the
country, U1%
2,796
93,40
2,654
94,76
2,502
95,34
2,400
94,10
2,330
93,45
The
share
of
world
exports
of
goods, V2%
33,40
35,70
38,10
39,20
40,10
200
201
202
Years
Design formula
The economic
effect of export E
2012
11208,0
476
2013
33772,0
444
Local curThe
rency revenues
total cost of
from compulthe enterprise
sory sale, V
for export, Z
13877
3145,0
35163
2835,0
F
4,5637
12,5598
476
444
V
13877
35163
Z
3145,0
2835,0
2012
2013
The results showed that for the years 2012-2013. Economic effect of
SOCAR imports decreased from 2958.0 mln. US to 2579.0 mln. USA.
The decline in the economic effect of imports to a certain extent affected
the index of economic efficiency SOCAR (see. Table. Number 14).
Table number 14
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2012
2013
The economic effect of The total ecothe export-import activi- nomic impact
ties, ie
of exports e
14,166,0
11208,0
36351,0
33772,0
As can be seen, for the 2012-2013 biennium. measure the economic effects of import-export operations SOCAR increased from 14,166.0 mln. US to
36,351.0 mln. USA.
Next, we calculated the integral index of efficiency of export-import activity of SOCAR (see. Table. Number 16).
Table number 16
Determination of the integral index of economic efficiency of exportimport activity SOCAR (see. P. 13), mln. USD. USA.
Years
2012
2013
Design formula
Full import
costs, Z2
187,0
256,0
Results showed that in the 2012-2013 years integral indicator of economic efficiency of export-import operations SOCAR increased from 4.2497 ppm.
US to 11.7603 mln. USA.
Another indicator is the calculated index ii SOCAR, the results of which
are grouped in the table number 17
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Table number 17
Determination of the index of transnationalization SOCAR, million
AZN.
Years
2012
2013
Design formula
Yt
S1
0,363 14031
0,395 15099
S
P1
21866 1393
23046 1651
P
3282
3270
1
1585
1571
Zi
1,643
Z1
438
Z2
392
Z3
420
2013
3,500
546
392
436
Comment:
Legend: Zi - an index of potential investments; Z1- value of the variable
in the country; Z2- minimum variable SOCAR; Z3 - the maximum value of the
variable SOCAR
4. Discussion. In the first direction, i.e. Regulatory transnational business
at the country level, based on a study of macroeconomic indicators can be certain abnormalities associated with external factors (increase or decrease in foreign exchange rates, the fall in oil prices, etc.).
In the second direction most consistent results on regulation of transnational business may be obtained at the branch level, as regulation of foreign
trade is mainly concentrated in the hands of the state.
Relatively reliable results on regulation of transnational business may be
obtained at the microeconomic level, i.e. at TNK, as the system is much more
flexible and subject to various transformations.
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66234
61088
5. Conclusion
5.1. Determination of control transnational business at the level of the
country gave the following conclusion.
- Basic macroeconomic indicators of the country for the 2005-2013 bienniums increased significantly (GDP - to 12522.5 million AZN to 57708 million AZN or 13238.7 mln. us to 73,560.5 mln. us, per capita GDP - to 1494.3
manat to 6207, 3 manat or 1579.8 dollars US dollars up to 7912. US, the share
of private sector GDP - from 77.8% to 82.5%; the composition of GDP: production - to 8307.2 million AZN to 36,588,200,000. AZN services - to 3141.3
million AZN 17429.7 million AZN up;
- System of National Accounts: total output - to 20252.3 million AZN
81061.5 million AZN up; intermediate consumption - to 8676.3 million AZN
27043.6 million AZN up; Taxes on production and imports - with 974.1 million AZN 3874.1 million AZN up; final consumption expenditure - to 6579.7
million AZN 30838.2 million AZN up;
- Accounts with economic transactions with the rest of the world (as of
2012) - almost all respects these accounts there are negative indicators;
- Positive changes in all aspects of the national income;
- The balance of payments - current operating account - to 163.3 million
AZN 12317.8 million AZN up; revenues - with -1,645.6 -4,120.6 million AZN
million AZN up;
- Low levels of the index of competitiveness of the country: the growing
global competitiveness index - Rank 39; outstripping the rating indices - Rank
77; market and non-market indexes - 66 grade and 95 grade, etc.
5.2.Raschet performance regulation transnational business at the industry level (Foreign Trade) gave the following conclusion:
- For the 2005-2013 biennium. the growth of foreign trade turnover increased from 8558.6 mln. US to 34,687.9 mln. The United States, including
imports - to 4211.2 mln. US to 10,712.5 mln. USA; export - to 4347.2 mln. US
to 23,975.4 mln. USA; the balance - with 136.0 million USD to 13,262.9 mln.
USA.
- Changes in the export quota - from 32.8% to 32.6%; import quota from 31.8% to 14.6%; foreign quota - from 65.0% to 47.1%;
- Change in the share of industry exports (energy fuel, oils and chemical
products for 2009-2013. From 93,40% to 9345%;
- The change in the export quota in manufacturing sector during the analyzed period from 64.40% to 90.65%;
- The structural change in the coefficient of specialization of industries
from 0,999 to 1,070;
- Fluctuation coefficient of relative export specialization of industries from 2,330 to 2,796.
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We believe that effective management of the results of foreign trade of the republic will enhance the effectiveness of transnational business at the industry
level.
5.3. Defining indexes transnational SOCAR and its impact on the efficiency of regulation of transnational corporations gave the following conclusion:
- Calculations minimizing gains and losses in output SOCAR over tighten towards profitability;
- For the 2012-2013 biennium. Determination of the economic benefits
and cost-effectiveness of their exports show an increase, respectively, with
11208.0 million AZN 33772.0 million AZN up with 4.5637 million AZN to
12.5598 million AZN;
- For the 2012-2013 biennium. Determination of the economic benefits
and cost-effectiveness imports also showed their growth, respectively, 2958.0
mln. US to 2579.0 mln. The United States and the decline from 16.818 mln.
US to 11,074 ppm. USA;
- For the 2012-2013 biennium. Determination of the economic benefits
and cost-effectiveness of the export-import operations indicate their increase
according to 14,166.0 mln. US to 36,351.0 mln. US and 4.2497 ppm. US to
11.7603 mln. USA;
- During the study period the index of transnational SOCAR increased
from 0.363 to 0.395; Index attracted incoming investments decreased from
0.961 to 0.861; Index of potential investments increased from 1,643 to 3,500.
Therefore, the above positive results SOCAR give grounds to assume
control of the effectiveness of the transnational corporations.
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