Assessment of leadership and integration effects of the economy of the Eurasian Economic Union

DOI

10.2991/icsbal-19.2019.45How to use a DOI?

Keywords

Economic integration, leadership, Eurasian Economic Union, integration effects, post-Soviet space

Abstract

This paper analyses the formation of a new integration association in the post-Soviet space - the Eurasian Economic Union (EAEU or EEU). The authors assessed the leadership on the basis of integration effects of national economies of the EAEU using indicators of volume and share of mutual trade in the total volume of their foreign trade, global competitiveness indices. The study identified positive aspects, as well as factors constraining the integration effects. These factors include the structural and macroeconomic imbalances of national economies, their weak diversification, the high share of mineral and other raw materials in mutual trade, and, as a result, a large dependence on the global economic situation, high volatility of exchange rates. Despite the fact that national economies demonstrate positive dynamics in the promotion of global competitiveness ratings, they are very different in terms of their international competitiveness. In order to increase the integration effects, the formation of high international competitiveness of the national economies of the EAEU needs to apply tools and interaction mechanisms in three main areas: realizing the potential of integrated markets for goods, services, capital and labour resources; deepening industrial cooperation; development of scientific and technical cooperation. Integration interaction in these areas will enhance the competitiveness of both national economies and integration association in general.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Nazar Grechkin
AU  - Valery Abramov
AU  - Victoria Perskaya
PY  - 2019/10
DA  - 2019/10
TI  - Assessment of leadership and integration effects of the economy of the Eurasian Economic Union
BT  - Proceedings of the 4th International Conference on Social, Business, and Academic Leadership (ICSBAL 2019)
PB  - Atlantis Press
SP  - 261
EP  - 265
SN  - 2352-5398
UR  - https://doi.org/10.2991/icsbal-19.2019.45
DO  - 10.2991/icsbal-19.2019.45
ID  - Grechkin2019/10
ER  -