The question of Eurasian integration is of great interest to politicians and academics for many reasons. First, it is the only existing and developing integration association in the former Soviet Union. Second, this association is valid in the neighbourhood of the European Union. Thirdly, this association is close to the sphere of important trade and investment interests of China. And finally, it is important that the EAEU was formed after 2014 — the beginning of the “sanctions” period in the life of Russia and the world. Integration in the Eurasian space is a unique case when previously closely interconnected countries within the framework of the central planning system, having survived the collapse of the former economic reality and still being in a protracted transformation process, restore their economic ties in a new market environment. In the case of the CIS, reintegration has not developed for some political reasons, despite available economic conditions. In addition to the analysis of macroeconomic and institutional parameters of the countries, the article presents the results of the classification of the regions of four EAEU countries: Armenia, Belarus, Kazakhstan and Kyrgyzstan. To optimise the cross-country comparison, we simplified the classification by the peculiarities of the administrative division of other EAEU members.

The article contains a review of inflation forecasting models, including the most popular class of models as one-factor models: random walk, direct autoregression, recursive autoregression, stochastic volatility with an unobserved component and of the integrated model of autoregression with moving average. Also, we discussed the possibilities of various modifications of models based on the Phillips curve (including the “triangle model”), vector autoregressive models (including the factor-extended model of B. Bernanke’s vector autoregression), dynamic general equilibrium models and neural networks. Further, we considered the comparative advantages of these classes of models. In particular, we revealed a new trend in inflation forecasting, which consists of the introduction of synthetic procedures for private forecasts accounting obtained by different models. An important conclusion of the study is the superiority of expert assessments in comparison with all available models. We have shown that in the conditions of a large number of alternative methods of inflation modelling, the choice of the adequate approach in specific conditions (for example, for the Russian economy of the current period) is a non-trivial procedure. Based on this conclusion, the authors substantiate the thesis that large prognostic possibilities are inherent in the mixed strategies of using different methodological approaches, when implementing different modelling tools at different stages of modelling, in particular, the multifactorial econometric model and the artificial neural network.

The article deals with the analysis of global trends and processes of transformation of the Russian economy associated with the increasing digitalisation. The author showed the modern manifestations of this transformation and revealed the consequences of digitalisation of the world economy, including the reduction of transaction costs, the emergence of new business models, the exclusion of intermediaries due to direct interaction between the consumer and the supplier. The author notes the absence of a generally accepted scientific definition of the digital economy both in Russia and abroad, separately analyses the history of this concept, reveals in detail the modern approaches to the definition of the term. The author concluded that most experts consider the digital economy as part of the socio-economic relations or a special kind of economic activity, based on new methods of processing, storage and transmission of data. The author also presented the features of the formation of the domestic digital economy. Finally, the author identified the problems and possible directions for using digital technologies that contribute to the reduction of technological backwardness in Russia.

Digital technologies play a crucial role in achieving the long-term balance between the techno-sphere and the natural environment that is necessary for sustainable development. The digital economy is a relatively new concept in national policymaking, often using such terms as “information economy” (the 1970s), “knowledge economy” and “electronic economy” (the 1980s), “new economy” (the 1990s) or “network economy” and “Internet economy” (the 2000s). While there is no single definition of the digital economy, there is general agreement on some fundamental principles. The basic idea of a digital economy is that products, services, lifelong learning and innovation are made possible by the computerised transfer and processing of modern technology in the context of market globalisation and sustainable development. Sustainable development is largely related to the preservation of the biosphere and natural capital together with the techno-sphere and the socio-sphere. However, in real life, environmental aspects are often overlooked. In recent years, there have been changes in the formation of the economies of countries, especially in strengthening their environmental component. Reducing the cost of sensor technology and the spread of networks allow you to connect each component entering the production process. The data collected through such connections provide an opportunity to know the place of origin of the product, the method of production and the amount of energy spent on its production. Information received on their basis gives to companies, cities and whole countries the opportunity to restore, create, and to relocate these resources more effectively. It is proposed to take into account the impact of the digital economy on the environment. The EU response is increasingly seen as a strong combination of the knowledge economy and the green new deal.

Global economic and financial crisis 2007–2009 had a devastating effect on international capital flows. An assessment of their dynamics over the past decade shows that in certain fields (for example, the volume of international debt securities circulating) the pre-crisis indicators were exceeded, in a number of areas they are close to the pre-crisis level (foreign direct investments, total capitalization of the world stock market), international bank lending remains significantly behind the pre-crisis values. In the leading world economies cross-border capital flows relative to GDP significantly decreased compared to 2007. Global imbalances between savings and investments continued to grow, though their structure by countries changed, and now developed countries play a key role in them. In the structure of international capital flows the main shift occurred from the other to portfolio investment, with a slight increase in the role of direct investment. The “quantitative easing” policy in the USA and euro zone has had a significant impact on international capital flows. With generally positive trends in international capital movements in 2017–2018, new threats to their developments are beginning to emerge, primarily in countries with emerging markets.

The subject of our research was the analysis of changes in the specialisation of Russia in mutual trade with the countries of the Customs Union — the Common Economic Space — the Eurasian Economic Union since the beginning of the functioning of the single customs territory. The work aims to characterise the impact of the integration process within the CU-SES-EAEU on the commodity structure of Russian exports to the grouping countries and the possibilities for realising Russia’s export potential in the markets of the partner countries. The author examines the most important trends and factors in the evolution of the commodity structure of mutual trade within the EAEU and Russia’s exports to these countries, assesses the importance of the EAEU countries for the realisation of the export potential of Russia. The study concluded that the integration process had a positive effect on the commodity structure of Russia’s exports to the EAEU countries: during the unification, the share of mineral products in total exports decreased by one third, while the share of machinery and chemical products, food products and agricultural raw materials rose. The author substantiated that the EAEU states are the most important market for Russian goods with a high share of value added and their importance is increasing. Nevertheless, the prospect for further realisation of the export potential of Russia in the markets of the EAEU countries is very ambiguous and will be determined by two factors: the growth rate of the Russian economy and the real achievements in the field of shaping long-term integration effects.

The BRICS countries are increasingly expanding multilateral forms of cooperation, moving beyond political areas to economic ones. This cooperation is based on their interest in using the resources and experience of other partners to the group to develop national economies and promote the export of goods, technologies and services for the benefit of national producers. The purpose of the study is to analyse the potential and identify the most promising areas of sectoral cooperation. It was carried out using the methods of comparative and statistical analysis, historical analogies, deductive and expert assessments. Agreed at BRICS summits, national economic strategies set the priorities of sectoral cooperation. Raising the competitive capacity of the BRICS economies is considered today in the context of productivity enhancement, including increasing energy efficiency, improving logistics, innovating technologies. The most promising areas are cooperation in offshore oil and gas production, nuclear power, construction of small hydropower stations, building transport corridors, including the high-speed networks and equipment of the Northern Sea Route. The sectoral priorities also highlight cooperation in the agriculture sector to address food security problems and in the digitisation of all sectors of the economy to take advantage of the opportunities provided by information and communication technologies.

This article presents an analysis of the main provisions of the Comprehensive Economic and Trade Agreement (CETA) signed by the government of Canada and the European Parliament at the end of 2016. In particular, the author analysed such aspects of the agreement as the abolition of customs tariffs, the introduction of common quality standards, access to the procurement market, modification of the system of investment disputes, etc. According to the results of the study, there was a mixed effect of the agreement for both Canada and the EU. For some sectors of the economies of the participating countries, the implementation of the CETA promises to create exceptional conditions for development, while for others the signing of a multilateral agreement is unprofitable or means losses. It should be noted that at the present stage the pros and cons of the СЕТА can be considered only at the theoretical level. It will be possible to draw objective conclusions about the impact of the multilateral trade agreement on the development of trade and economic relations between the countries only a certain time later after the ratification of the agreement by all parties. At the current stage of development of Canada-EU relations within the framework of the СЕТА, it can be noted that only the dynamic development and further improvement of the mechanisms of the multilateral agreement will make a trade and economic relations between the countries more open and transparent.

In this article, the analysis of the influence of international sanctions on the Russian economy is provided to identify and evaluate their positive effects. The author established some economic areas, where the noticeable improvement of the situation has happened and where exists the creative basis of domestic production. Further, the author analysed her findings on the base of some statistical data and some stylized examples. The opportunities of Russia to diversify trade markets, increase of foreign trade cooperation with the new partners. The author also showed improvement of the country’s food security on the example of changes in the geographical and commodity structure of trade turnover. There is an analysis of the positive trends in import substitution in such sectors as agriculture, military-industrial complex, ITindustry. Furthermore, some examples are given to demonstrate the capabilities of Russia in making the technological breakthrough that is necessary for the further development of the country. In conclusion, the author summarised the positive aspects of the influence of the sanctions and the inference about the need to turn towards the internal potential of the country, towards the search for the hidden reserves and opportunities.

Relevance. The purpose of this article is to analyse particular features of the modern situation in of the banking and stock market sectors of the Federal Republic of Germany. Some of the topical characteristics of the development of the German banking system during the last years are as follows: The restructuration of the Lands Banks, which was in the centre of the financial crisis of 2008–09; Continuing attempts to reorganise the Deutsche Bank which was and is in continued failure of profits; The decrease in inter-banking credits on the background of expected abandonment of the policy of “quantitative easing”. On the other hand, following a series of unlucky attempts by Deutsche Boerse to establish an alliance with the largest World’s Stock Exchanges, Frankfurt hope to get even with London and become European “financial capital” after Brexit completed.

Methods. By analysis of publications edited by EU, ECB, Bundesbank, related German agencies, and also books and articles written by Russian and foreign authors this text demonstrates the changes within the structure of the German banking sector and the strong and weak aspects of the stock market of this country. The author used system’s approach and historical and statistical methods to allow the making of a holistic analysis of the selected topic in its development, as well as ranging statistical data properly and drawing up some conclusions regarding the eventual scenario of further development.

Results. This research provided a background for the conclusion that the world financial and economic crisis of 2008–09 has more strongly affected the German banking sector than in former considerations. The leading banking institutions of the country such as Deutsche Bank and Commerzbank are in a hard financial situation. Relatively limited capital adequacy and low level of profitability of the majority of German banks represent important limits for its international activities. Meanwhile, the German stock market remains underdeveloped and therefore plays a subordinated role in financing companies.

Prospects. The outcomes of this research could be useful for the assessment of long-term perspectives of the socioeconomic and innovative development of Germany which remains the biggest economy of the EU.

The relevance of the research the author connects to the necessity of selecting from the wide range of digital technologies the best instruments for economic development. The aims of the article are: to prove the interrelation between the settlement mechanisms and systems of the division of labour; the classification of monetary systems by the differences in the division of labour systems; the rationale the optimality of the public-state monetary and settlement system. The study was conducted using a dialectical method, positive and normative institutional and macroeconomic methods. The results of the study are possible to use unified methods of coordinating the sphere of basic industries and the sphere of innovative, creative work in a digital economy. The author proposes to coordinate the division of labour in the basic sectors and an inter-branch balance within the framework of an automated management system. To coordinate the types of innovative, creative work, a system of combining the spheres of social development through a “circular advance” is possible. These coordination instruments we can implement in the transition to the optimal monetary and settlement system. Monetary and settlement instruments for coordination of the sphere of real production can be used to achieve state regulation in the basic branches of the economy, and instruments for the formation of vertically integrated links, at least, in the sphere of innovative, creative work. The optimal monetary and settlement system proposes the existence of endogen money — the means of account. Such a system makes it possible to use the dynamic model of the inter-sectoral balance as an instrument of the digital economy in the sphere of basic production and instruments of endogenous, monetary-calculating ways of forming links in the vertical division of labour for the innovative, creative sphere. It promotes to innovative and creative work, overcoming market and planning constraints. Investigation of the possibilities of monetary and settlement instruments can generate discussion end can determine other areas of their use.