Global Economic Leadership and the Leadership Rent

DOI: 10.20542/0131-2227-2015-10-5-17

O. Buklemishev, Moscow State University, 1, bldg. 46, Leninskie Gory, Moscow, 119991, Russian Federation (
Yu. Danilov, Russian Presidential Academy of National Economy and Public Administration, 82, bldg. 1, Prosp. Vernadskogo, Moscow, 119571, Russian Federation; Moscow State University, 1, bldg. 46, Leninskie Gory, Moscow, 119991, Russian Federation (


Nowadays, along with qualitative economic parameters, the absolute size of national economies becomes particularly important for global competition. Due to liberalization of external economic relations and processes of globalization the quantitative economic leadership by a nation produces a potential for reaping certain economic gains, and its combined value can be substantial. We call this amount the “leadership rent”. It stems from natural processes like competitive behavior of the transnational corporations or transformation of the leading national monetary units into the reserve currencies. Current configuration of the global system is characterized by the dominance of four leading economies: USA, EU, Japan and China, and the latter is now replacing the US in its role as the world’s biggest economy in terms of PPP. The emergence of new dominant leaders in the near future is unlikely while deposition of Japan and/or EU cannot be excluded. Despite the presence of the “leadership rent”, the economic dominance of the current leaders in recent years was diminished. This indicates that there exist certain factors preventing the leaders from further consolidating their position. These factors represent the flip side of the economic benefits of the leadership and demonstrate the new possibilities of catching-up progress by the developing countries in the era of globalization. In this regard Russia's role in the future world economic hierarchy now becomes a matter of particular concern as the country is about to persistently lag behind the world average rate of economic growth at least in the middle term. Reversal of this trend will require fundamental policy changes including restart of the deep structural reforms and restoration of unimpeded integration of the Russian economy into the global economic system.

Acknowledgements. The research was supported by the grant of the Foundation «World Public Forum ”Dialogue of Civilizations”». The authors would like to thank the members of the Editorial Board of the “World Economy and International Relations” for valuable policy comments made during the discussion of the article.


globalization, economic leadership, “path dependence”, “leadership rent”, reserve currency, cross-border capital flows, developing countries, catch-up economic growth

Registered in System SCIENCE INDEX

For citation:
Buklemishev O., Danilov Y. Global Economic Leadership and the Leadership Rent . Mirovaya ekonomika i mezhdunarodnye otnosheniya, 2015, No 10, pp. 5-17.

Comments (0)

No comments

Add comment

Current Issue
2021, vol. 65, No. 10

Topical Themes of the Issue:

  •  Goals of Regional Integration: a Modern Understanding 
  •  Beyond Brexit: on the Occasion of Reinvention of Britain’s Global Role 
  •  Alternatives of Global Energy: Transformational Trends and Risks 
  •  Pacific Asia: Prospects for Development
View This Issue (2021, vol. 65, No. 10)
Submit an Article
Dear authors!
In order to avoid the multiplicity of copyright profiles and to unambiguously identify your works in the international and domestic databases of scientific citation while submitting manuscripts to our journal please specify your ORCID.

Dear readers!
Please note that free access to full-text issues of the Journal is being opened at our WEB-site after 6 months of the date of publications.The work on deepening the open archive of full-text issues will be continued.

Dear colleagues, authors and readers!
We kindly request you to turn to editor-in-chief and executive secretary directly concerning reviewing scientific publications in our journal. Only editor-in-chief takes decision on order and publication the reviews!

Dear readers!
This is to inform the researchers of the Institute of World Economy and International Relations that electronic versions of the IV issue of 2020 and I issue of 2021 of French magazine Politique étrangère are now available. Those who are interested, please personally address to the editorial staff of MEMO Journal (room 18-17) with an electronic media.

In response to the challenges of our time the Editorial board continues to open new thematic rubrics:

“World Energy Sector after Pandemic”. We plan to publish articles presenting in-depth analysis of influence of Pandemic on the global energy sector and forecasts of further developments in its various branches.

“Civilization processes of modern development” is a new rubric opened by MEMO Journal in 2020. It will be devoted to the analysis of the influence of civilizational factors and inter-civilizational interactions on the political and socio-economic development of the world at whole, regions and countries.

“Africa today and tomorrow”The rubric devoted to contemporary issues of Africa which is attracting growing interest of the world's leading actors. We plan to publish the articles analyzing the status of statehood, socio-economic and political development of the countries of Black continent, as well as the integration processes between them.


"World Eonomy and International Relations" announces a contest for the best joint academic publications of domestic and foreign researchers and experts in topical issues of the world economy and international relations. The winners will be selected according to the results of peer reviewing and discussion at the Editorial Board. The articles will be published in priority order.


The print version of “World Economy and International Relations” journal is distributed by advance subscription only, and is not offered for retail sale. To subscribe please address to any post office in Russia by referring to the Federal Postal Service Union Catalogue, section “ARSMI”, the journal index is 70542. The subscription may be made for the whole subscription period or starting from any nearest available month for desired number of issues.

To purchase the full-text electronic version of the journal’s issue/article please address to the WEB portal of Scientific electronic library or URL:

In journal
2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 |

The author’s opinions may not coincide with the position of editorial