Importance The current external economic conditions and a decline in foreign investment increase the significance of mobilization of internal resources, including those accumulated by the credit cooperation system. Competent approaches to regulation of this institution are among top priorities. Objectives Thepurpose of the study is to identify opportunities and ways to harmonize the applicable legislation for the common economic space creation. Methods Thestudy employs the method of historical comparisons, comprehensive and systems approaches, synthesis, induction and deduction, logic analysis, and unification. Results I performed a comparative analysis of the current legislation of the EAEU member States to reveal the most significant differences, offered ways to harmonize the laws under the developing integration processes. Conclusions and Relevance There is a need for a thorough discussion and analysis of the existing approaches, primarily, for assessment of the nature of credit cooperatives' activities. This will enable to move towards the harmonization of legislation in this area.
Keywords: credit cooperation, government regulation, non-profit organization, financial risk, EAEU
References:
Nigmatullin I.G. Sovremennoe sostoyanie teoreticheskikh issledovanii po voprosu gosudarstvennoi finansovoi politiki [Current status of theoretical studies on the State financial policy]. Finansovyi zhurnal = Financial Journal, 2015, no. 3, pp. 43–54.
Emel'yanov S.P., Khamzin I.M. Teoreticheskie aspekty upravleniya kreditnymi riskami v kreditnykh potrebitel'skikh kooperativakh [Theoretical aspects of credit risk management in consumer credit cooperatives]. Vestnik Rossiiskogo universiteta kooperatsii = Bulletin of Russian University of Cooperation, 2014, no. 3, pp. 4–8.
Emel'yanov S.P., Khamzin I.M. Osobennosti stanovleniya sistemy kreditnoi kooperatsii Germanii [Features of credit cooperatives formation in Germany]. Strategiya ustoichivogo razvitiya regionov Rossii= Sustainable Development Strategy of Russian Regions, 2014, no. 21, pp. 143–149.
Nagumanova E.V. Razvitie kreditnoi kooperatsii v zarubezhnykh stranakh [Credit cooperation development in foreign countries]. Biznes. Obrazovanie. Pravo.Vestnik Volgogradskogo instituta biznesa = Business. Education. Law. Bulletin of Volgograd Business Institute, 2014, no. 1, pp. 90–93.
Lisichkina Yu.S., Khalimova G.A. Osobennosti stanovleniya sel'skokhozyaistvennoi kreditnoi kooperatsii v Rossii i za rubezhom [Features of agricultural credit cooperatives formation in Russia and abroad]. Fundamental'nye i prikladnye issledovaniya kooperativnogo sektora ekonomiki = Fundamental and Applied Studies of Cooperative Sector of Economy, 2013, no. 6, pp. 17–22.
Bezgina O.A. Pervyi etap v razvitii kooperativnogo dvizheniya Rossii [The first stage in the cooperative movement development of Russia]. Baltiiskii gumanitarnyi zhurnal = Baltic Humanitarian Journal, 2013, no. 2, pp. 10–13.
Tret'yakova S.G. Kooperativnye banki i kreditnye kooperativy kak instituty mikrofinansirovaniya: istoriya razvitiya, aktual'nost' i sovremennye problemy [Cooperative banks and credit cooperatives as microfinance institutions: the background, importance, and contemporary issues]. Fundamental'nye i prikladnye issledovaniya kooperativnogo sektora ekonomiki = Fundamental and Applied Studies of Cooperative Sector of Economy, 2008, no. 2, pp. 108–116.
Nagumanova E.V. Zarubezhnyi opyt kreditnoi kooperatsii [Credit cooperatives: foreign experience]. Sovremennye tendentsii v ekonomike i upravlenii: novyi vzglyad = Modern Trends in Economy and Management: Fresh Approach, 2014, no. 26, pp. 73–77.
Aleev V.A. Zarubezhnyi opyt v razvitii kreditnoi kooperatsii [Foreign experience in the credit cooperation development]. Vestnik Chuvashskogo Universiteta, 2012, no. 1, pp. 335–340.
Balalova E.I., Bazhenov S.S. Analiz finansovykh faktorov razvitiya kreditnoi kooperatsii [An analysis of financial factors in the development of credit cooperatives]. Fundamental'nye i prikladnye issledovaniya kooperativnogo sektora ekonomiki = Fundamental and Applied Studies of Cooperative Sector of Economy, 2013, no. 4, pp. 7–14.
Tseiko V.I., Burlakova S.S. Kreditnaya kooperatsiya v stranakh Zapadnoi Evropy [Credit cooperatives in Western European countries]. APK: ekonomika, upravlenie = AIC: Economy, Management, 2009, no. 11, pp. 85–90.
Gubanov R.S. Finansovyi rynok Edinogo ekonomicheskogo prostranstva: problemy i riski [The financial market of the Common Economic Space: challenges and risks]. Finansovyi zhurnal = Financial Journal, 2014, no. 3, pp. 161–166.
Tarasov Yu.I., Mal'tseva I.S. Stanovlenie i razvitie sel'skoi kreditnoi kooperatsii v Rossii [Formation and development of rural credit cooperatives in Russia]. Novye tekhnologii = New Technologies, 2014, no. 4, pp. 57–62.
Bogzykov Yu.S. K voprosu o sel'skokhozyaistvennoi kreditnoi kooperatsii [On agricultural credit cooperatives]. Vestnik Kalmytskogo instituta gumanitarnykh issledovanii RAN = Bulletin of Kalmyk Institute for Humanities of Russian Academy of Sciences, 2013, no. 2, pp. 104–107.
Evlakhova Yu.S. Potentsial vzaimodeistviya kommercheskikh bankov i mikrofinansovykh institutov (na primere Rostovskoi oblasti) [The potential of interaction of commercial banks and microfinance institutions: the Rostov oblast case study]. Finansovye issledovaniya = Financial Research, 2008, no. 19, pp. 19–23.
Voronkova N.V. Vzaimodeistvie sel'skokhozyaistvennoi kreditnoi kooperatsii i bankovskoi sistemy [The interaction of agricultural credit cooperatives and banking system]. APK: ekonomika, upravlenie = AIC: Economy, Management, 2010, no. 1, pp. 88–93.
Tushkanov M.P., Maksimov A.F. Sistema fermerskogo kredita v SShA: struktura, mekhanizmy i rezul'taty raboty [The U.S. farm credit system: structure, mechanisms, and the progress made]. Izvestiya Timiryazevskoi sel'skokhozyaistvennoi akademii = Bulletin of Timiryazev Moscow Agricultural Academy, 2013, no. 6, pp. 102–113.
Fedorova L.P., Emel'yanov S.P. Zarubezhnyi opyt kooperativnogo dvizheniya i ego primenenie v Rossii [Foreign experience of the cooperative movement and its application in Russia]. Vestnik Rossiiskogo universiteta kooperatsii = Bulletin of Russian University of Cooperation, 2009, no. 1, pp. 34–49.
Abrameitseva E.A., Nagumanova E.V. Kreditnye potrebitel'skie kooperativy kak faktor sotsial'no-ekonomicheskogo razvitiya regiona [Credit consumer cooperatives as a factor of socio-economic development of the region]. Regional'naya ekonomika. Yug Rossii = Regional Economy. South of Russia, 2013, no. 2, pp. 210–215.
Guinnane Timothy W. Cooperatives as Information Machines: German Rural Credit Cooperatives, 1883–1914. Journal of Economic History, 2001, vol. 61, no. 2, p. 370.
Andryushin S., Kuznetsova V. Instituty mikrofinansirovaniya v Rossiiskoi Federatsii: osobennosti i perspektivy razvitiya [Micro-finance institutions in the Russian Federation: the features and development prospects]. Vestnik Instituta ekonomiki Rossiiskoi akademii nauk = Bulletin of Institute of Economics of Russian Academy of Sciences, 2010, no. 1, pp. 222–233.
Rick S.W. Credit Union Restructuring: A Response to the Developments in the International Finance Industry. World Council of Credit Unions. Research Monograph Series, 1998, no. 11.
Kalmykova M. Kreditnye soyuzy: problemy regulirovaniya v Belarusi [Credit unions: regulation-related issues in Belarus]. Банкаўскi веснiк, 2010, no. 31, pp. 62. Available at: Link.
Maksimov A.F. Teoreticheskie osnovy institutsional'nogo razvitiya sel'skokhozyai-stvennoi kreditnoi kooperatsii [Fundamentals of institutional development of agricultural credit cooperatives]. Mezhdunarodnyi nauchnyi zhurnal = International Scientific Journal, 2013, no. 5, pp. 25–32.
