Valuation of parity of foreign trade relations by branding tools

  • Galina Studinskа Kiev National University of Trade and Economics
Keywords: trade relations parity assessment, status parity, territorial branding index, country brand per capita indicator

Abstract

The methodological approach to the assessment of parity of trade relations is proposed. The analysis of the volume of export and import, their commodity structure is considered as a traditional cost approach to assess the equivalence of foreign trade operations of the country. The use of branding tools in assessing the technological or status level of trade relations between countries is substantiated. The mechanism of calculating the indicator of territorial branding and the indicator of branding of the country per capita is demonstrated. The efficiency of the brand-oriented format for the development of the national economy has been proved. In order to increase the competitiveness of the national economy, adoption and implementation of brand-oriented development strategy by Ukraine is recommended. Background. Contemporary globalization determines the development strategy of each country, affects the change in the economic behavior of its subjects of business and the nature of consumer behavior, which is perceived as a tendency to seek benefits that would ensure the competitiveness of domestic goods, services, companies producing and providing them, territories, in within the limits of which the economic activity is carried out. Countries compete in the search for resources, highly skilled specialists, but the world market of goods and services remains the main area of competition, where the destiny of national economies is resolved in relation to their specialization, cooperation, socioeconomic efficiency and establishes the geopolitical role of the country in the world «scenario» of development. The assessment of foreign trade relations between the countries serves as an indicator of compliance with modern geo-economic challenges, and a comparative analysis of this assessment demonstrates the equivalence of trade relations between countries. Branding as a sign of modern trends in the promotion of goods, services, companies, even territories by the countries proves the efficiency and reliability of its use, the long-term nature of its results, the wide range of its implementation, which makes it considered as a tool for assessing the parity of trade relations between countries. This proves the relevance of the chosen topic of study, distinguishes its scientific and practical tasks. Analysis of research and publications. The issue of the parity of foreign trade relations between the countries of the world attracts research institutions, in particular the National Institute for Modern Studies, many domestic and foreign scientists. Thus, Parakhonsky B. and Yavorskaya G. [1] thoroughly study the theoretical aspects of Ukraine's strategic partnership; Professor Rainert E. explores strategies of mutual trade relations between countries as a factor for their enrichment [2]. There are many analytical studies on establishing the parity of economic relations of some countries through the analysis of exports and imports, their commodity and geographic structure. The unexplored part. At the same time, the above-mentioned researches are kept untouched in the light of modern tendencies, where branding is of key importance, the role of which is devoted to this article. The purpose of this study is to develop a methodological approach to assessing the parity of foreign trade relations between countries using branding as an instrument for managing the competitiveness of the national economy and an indicator of compliance with modern trends in economic development. Based on the purpose of the study, let's single out the following tasks: 1) Determination of the methodological approach to the assessment of the parity of foreign trade relations between countries; 2) Demonstration of his individual results; 3) Formulating the role of branding in the formation of parity between countries. Material and methods. The fulfillment of this scientific study is guided by the following general criteria: conceptual, that providing the possibility of obtaining integrated conclusions; systematic, that showing results in dynamics; objectivity, on the basis of which it is possible to check and control the research; comprehensiveness, which allows to reveal the general laws and to design the necessary direction of the following actions; publicity, whose competence permits the existence of other views on the proposed approach.

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References

1. Parakhonsʹkyy, B., Yavorsʹka, H. Stratehichne partnerstvo Ukrayiny. Analitychna zapyska Natsionalʹnoho instytutu suchasnykh doslidzhenʹ [Analytical note by the National Institute of Modern Studies]. URL: http://www.niss.gov.ua/articles/600/

2. Raynert, E. S. (2014). Yak bahati krayiny zabahatily… i chomu bidni krayiny zalyshayutʹsya bidnymy [How the rich countries got rich ... and why poor countries remain poor]. K.: Tempora, 444 s.

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5. Studinska, G., Studinsky, V. and others. (2018). Brand in the evaluation of the economic component of strategic partnership (on the example of Ukraine-France relations) : Monogr. Scientific development and achievements London: Sciemcee Publishing, P. 357-373.

6. Studinsʹka, H. Ya., Studinsʹkyy, V. A. (2018). Stratehichno partnerstvo Ukrayiny ta ЕS [Partnership between Ukraine and the EU]. Formuvannya rynkovykh vidnosyn v Ukrayini: Zbirnyk naukovykh pratsʹ, 7-8 (206-207). K. : DNDIIME, S. 22-36.

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9. Studinsʹka, H. Ya. Instytutsiyni pomylky v ukrayinsʹkiy praktytsi brenduvannya krayiny V Mizhnarodniy naukovo-praktychniy konferentsiyi [«Ekonomichne zrostannya: stratehiya, napryamy i priorytety»], [Institutional mistakes in the Ukrainian practice of country branding V International scientific and practical conference (Economic growth: strategy, directions and priorities)] (Skhidnoukrayinsʹkyy instytut ekonomiky ta upravlinnya, m. Zaporizhzhya, 26 sichnya 2019 roku), S. 30-34.

Author Biography

Galina Studinskа, Kiev National University of Trade and Economics

Science, D. іn Economical, Docent of the Department of International Economics Relations

Published
2019-11-20
How to Cite
StudinskаG. (2019). Valuation of parity of foreign trade relations by branding tools. University Economic Bulletin, (43), 34-42. https://doi.org/10.31470/2306-546X-2019-43-34-42
Section
Knowledge Economy, Innovative Economy