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Eurasian Economic Union as a specific form of international economic integration

Tsoi A.V. Lomonosov Moscow State University, Moscow, Russian Federation ( tsoyartur1331@gmail.com )

Journal: Regional Economics: Theory and Practice, #5, 2018

Importance The article investigates current processes within the Eurasian Economic Union, ASEAN and the EU and defines the most preferable interaction of the EEU with other integrated groups and third countries.
Objectives The purpose is to identify objective trends, which characterize the EEU as a specific form of international economic integration.
Methods The study employs methods of statistical analysis, expert evaluation, and comparative analysis.
Results The analysis of integration processes within the EEU, EU and ASEAN shows that in terms of economic development and views on the policy of supranationality, the EEU is closer to ASEAN than to the EU. We specify that the EEU departs from the 'classical' form of international economic integration and thereby proves that the EU is by no means the only way to integration.
Conclusions The EEU integration development should take into account all up-to-date mechanisms generated within the EU, ASEAN, TTIP, SREB, etc. However, it is necessary to build an individual model of economic integration for the EEU to unlock its potential. The Eurasian integration should be reconsidered based on the best world practices.


Problems of the Eurasian Economic Union development

Tsoi A.V. Lomonosov Moscow State University, Moscow, Russian Federation ( tsoyartur1331@gmail.com )

Journal: Regional Economics: Theory and Practice, #7, 2018

Importance The Eurasian Economic Union (EEU) is one of leading integration groups in the post-Soviet space, which has both development prospects and a number of certain problems related to the specifics of national economies of the EEU member States (Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia). The article reviews problems hampering the development of integration processes in the EEU.
Objectives The purpose of the study is to identify the main problems of the EEU that impede positive development of integration processes.
Methods The study draws on methods of statistical analysis, expert assessment, and comparative analysis.
Results The analyzed groups of problems include downward trends in the internal and external trade of the EEU and scarce investment in non-resource industries. The paper specifies that the main reason for the said critical problems is the similar structure of goods produced within the EEU. It notes that Chinese investments hardly ever lead to a positive effect for all participants of the Eurasian integration.
Conclusions The member countries of the EEU need to eliminate the similar structure of manufactured goods through developing the specialization of the EEU countries in the production sphere. Since the EEU countries specialize in the production of primary commodities, foreign direct investment (FDI) is distributed among the resource-based industries. It is important to reduce investment in raw material industries and to increase in the high tech sphere.


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