Munich Personal RePEc Archive

Eurasian Economic Union: Asymmetries of Growth Factors

Khusainov, Bulat and Kireyeva, Anel and Sultanov, Ruslan (2017): Eurasian Economic Union: Asymmetries of Growth Factors. Published in: The Journal of Asian Finance, Economics and Business , Vol. 4, No. 1 (February 2017): pp. 51-58.

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Abstract

The aim of the study is to assess the asymmetry of influence of factors of economic growth of national economies, which are included in the integration. Unlike previous research, the scientific significance of the obtained results consists in the use of a new method of study – external demand as a factor of economic growth, disaggregated into two components. The first is net exports mutual trade in goods within integration associations. The second is net exports of foreign trade in goods outside the integration. By use of these methods we have evaluated the contribution of these factors on economic growth of the Customs Union and the Common Economic Space (CU/CES), as well as Kazakhstan, Russia and Belarus. In the conducted analysis of scientific research was based on the fact that the economies of the member (CU/CES) are very different in scale, economic potential and volume of foreign trade. Based on this research we conclude: integration is developing successfully and efficiently only with the rise of the national economies of the member countries; to enhance economic growth and competitiveness of the countries of the Eurasian integration it is necessary to increase the volume of mutual trade of member countries of this integration.

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