Interest about income distribution and inequality have substantially grown in recent years. First of all, it can be explained by the increase in inequality as a major threat for the stability of society and economy, that often try to associate with the consequences of the globalization process and slowdown in the global economy. Hence the need for research and constructive discussions on inequality, and its causes. As hypotheses, as a rule, statements are tested: economic growth leads first to an increase, and then to a decrease in inequality; high income differentiation stimulates higher growth rates; the processes of globalization contribute to reducing inequalities in the world. The aim of the empirical part of submitted research is to analyse the relationships between income inequality and economic growth, income inequality and globalisation. The choice of methods to confirm the assumptions was determined by the properties of the long-term relationship between time series of indicators. Study has employed a single-country regression to investigate the existence of the Kuznets curve hypothesis for the Ukraine economy over the period 1995-2016. The bounds testing (ARDL) approach to cointegration is applied to examine the long-run relationship between income inequality and economic growth. The results, when regressing Gini index and GDP per capita based on purchasing power parity, confirm the presence of hidden cointegration. The Granger causality test was applied in order to test the existence of a causal relationship between the degree of globalization and income inequality. For case of Ukraine there is relationship between globalization process and inequality in the long run. Also the causality test revealed some cyclicality, in other words, there is the interchange of one-way direction of causality.

In the empirical tools for the research of trade integration a special place is occupied by gravity models, insofar as these models have rather high accuracy in explaining mutual trade flows. Recently, however, the gravity model approach has been subjected to critical rethinking: globalization brought considerable changes not only in economic growth, but also in international trade, what allowed speaking about a “Death of Distance”. At the same time, estimates based on gravity models almost always demonstrated an increase in the coefficient of distance as a proxy for transport costs, which contradicts the general perception of the phenomenon of globalization. The paper is devoted to testing the validity of inclusion of the globalization index in the model, which would allow consider the role of globalization in bilateral cross-country trade, as well as testing the hypothesis of reducing the coefficient of distance. Based on the annual panel data over the period 2000-2016 the trade integration model for the EEU countries was estimated. To test the hypothesis of a decrease in the estimated coefficient of distance over time, the gravity model was also evaluated at different time intervals. And the positive impact of the globalization factor on the volume of exports is revealed.

Research background: When it comes to conducting international events in a country with a small open economy, the issue of assessing the ratio of costs of the event to subsequent economic effects is relevant. If the evaluation of short-term revenues in the country is quite realistic, then quantifying the long-term effect on a country’s image is much more difficult, and directly related to the concept of soft power and its evaluation as a neutral instrument in international relations. The study was based on the concept of soft power and its instrument, such as the international image of the state, the improvement of which is possible by conducting various events of an international level. Purpose of the article: The opportunity was of interest to assess the effect of using one of the neutral tools of the so-called soft power, such as holding international sports events. Methods: To test hypotheses, time series models were used on the example of Belarus data. Also, for Belarus, the Soft Power Index was calculated according to the methodology of the Moscow School of Management Skolkovo and the British audit and consulting company Ernst and Young. Findings & Value added: The conclusion is confirmed that the holding of sports events of an international scale directly affects the increase in indexing in the search queries of keywords characterizing the country, which in turn through the components of the globalization index positively affects its values for the country. Also, the holding of sports and cultural events has a positive effect on the influx of foreign tourists into the country.

Research background: With the processes of globalization in the modern world is inextricably interlinked the growing role of non-force methods in foreign policy, as well as the increased attention of the leaders of all leading states to improving the image and increasing the attractiveness of their country, which is directly related to the concept of soft power. To assess the degree of use of soft power in the foreign policy, various ratings are currently being constructed based on the analysis of public opinion, expert assessments, and the estimation of integral quantitative indicators. The data incomparability, as well as the subjective nature and not always adequate results of assessing public opinion, often lead to ratings inconsistency. In addition, Belarus is not included in most of the ratings. Purpose of the article: Assessment of the potential of soft power concept use for Belarus, in particular, based on the development of an integral indicator of the country’s image and popularity. Methods: The methodology of the Moscow School of Management Skolkovo and the British audit and consulting company Ernst and Young. When constructing the integral indicator, the principal component analysis and the ordered multiple-choice were also used. Findings & Value added: The assumption about the inconsistency between the considered soft power ratings was confirmed. Based on the results of the assessment of the soft power index and the integral indicator, it was concluded that Belarus can be classified as a country with an average level of potential for the use of soft power instruments.