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

摘要

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.