Modern economic diplomacy and problems of evaluating its effectiveness

Abstract

The paper deals with issues and problems of evaluating of efficiency of economic diplomacy. The article analyzes the available research on this issue, highlights the main approaches and methods to assessing the effectiveness of economic diplomacy. In the process of analysis, both positive and negative aspects of each of these methods are identified. There is a new methodology for analyzing the effectiveness of economic diplomacy proposed, which would be based on the study of the interconnection between budget financing of diplomatic activities and the results of a country's foreign economic activity. The author's recommendations are given, which can be used as a bases for both further scientific research and the development of practical measures aimed at improving the given sphere.