The Implications Of Sino-Russian Energy Cooperation On Economic Growth

The state of natural resources owned by a country has an important influence on its economic growth.Energy,as the basic motive force to safeguard national security and ensure the sustainable development of economy,is an important research topic for the international community.Energy provides support for economic growth.To a large extent,the degree of economic growth depends on the degree of satisfaction of energy demand.Therefore,countries around the world are generally concerned about the long-term stability of energy supply.The contradiction between supply and demand in China's energy market is prominent.Most of the energy demand depends on imports.Sustained and adequate supply of energy is an important guarantee for the sustained and healthy development of China's economy.The Malacca Strait is a necessary place for China's offshore energy imports.The political instability in this area has brought great security risks to China's energy imports.Sino-Russian energy cooperation can not only effectively alleviate China's energy shortage,but also help reduce China's energy import risk and enhance China's energy security.Russia is an important energy producer and exporter in the world.It has abundant energy resources.According to the statistics of BP World Energy Statistics Yearbook published in 2018,Russia ranks sixth,first and second in the world rankings in terms of proven crude oil reserves,natural gas reserves and coal reserves in 2017.The energy industry is a pillar industry since the collapse of the Soviet Union in Russia.Russia's economy is heavily dependent on energy exports.Such as the European and American sanctions,rouble volatility and other factors have caused significant economic losses to Russia's energy industry.In order to solve the current economic difficulties,Russia began to attach importance to China's energy market and deepen energy cooperation with China.At present,China and Russia are not only important energy trading partners,but also have made outstanding achievements in direct investment in energy,oil and gas exploration and development,and pipeline construction.Energy cooperation between China and Russia is a need for both countries' domestic economic development.Enhancing cooperation between China and Russia's energy industry will help deepen the strategic partnership of cooperation between the two countries and promote economic prosperity and development.This paper combines the relevant theories of trade and economic cooperation,not only combs the status quo and achievements of Sino-Russian energy trade and energy non-trade cooperation in detail,but also demonstrates the impact of Sino-Russian energy cooperation on the economic growth of the two countries by means of vector autoregressive model.The first part of this paper is the research background,significance and research methods,and points out the innovation and shortcomings of this paper.The second part is related theories.Firstly,this paper briefly introduces the connotation of Sino-Russian energy cooperation,and then combs the theory of international trade and economic cooperation related to this paper.The third part is the general situation of Sino Russian energy cooperation and economic growth.This part elaborates the reasons and progress of energy cooperation between China and Russia according to their different situations.At the same time,the economic development of the two countries is also analyzed.The fourth part is the empirical part,which first analyzes the mechanism of the impact of energy cooperation on economic growth;then constructs an energy cooperation evaluation index to measure the theoretical and practical impact of Sino-Russian energy industry cooperation on the economic growth of the two countries,and seeks to find the contribution of Sino-Russian energy cooperation to the economic growth of the two countries.The econometric demonstration provides empirical support for the future energy cooperation between the two countries.The fifth part is conclusions and policy recommendations.This part summarizes and summarizes the research of this paper,and puts forward relevant policy suggestions for the future energy cooperation between China and Russia.Through the study,there have three important conclusions in this paper:First,Sino-Russian energy cooperation is a win-win process.Whether it is energy trade cooperation or non-trade cooperation,China and Russia's economy has a role in promoting.China and Russia should strengthen bilateral cooperation in the field of energy and deepen the comprehensive strategic partnership of cooperation between the two countries.Second,for China,China's economic growth is more dependent on trade cooperation between the two countries;third,for Russia,energy non-trade cooperation between the two countries has a greater impact on Russian economic growth.The innovation of this paper is that it not only combs the non-trade status quo of energy cooperation between China and Russia,but also indirectly measures the impact of non-trade cooperation on the economies of the two countries through empirical analysis.The disadvantage of this paper is that it only studies the cooperation between the two countries in the three types of conventional energy:oil,natural gas and coal,and does not study the cooperation between the two countries in the field of non-conventional energy.At the same time,because some of the energy trade in some years is small,if classified research may lead to inconsistent results.So this paper does not classify all kinds of energy in the research process,but carries on the weighted average overall research to all kinds of energy.