Regional integration and economic performance: evidence from the Eurasian Economic Union

Pomerlyan, E. and Belitski, M. ORCID: https://orcid.org/0000-0002-9895-0105 (2023) Regional integration and economic performance: evidence from the Eurasian Economic Union. Eurasian Geography and Economics. pp. 1-29. ISSN 1938-2863 doi: 10.1080/15387216.2022.2163414

Abstract/Summary

There is a strong relationship between regional integration and economic performance. This paper investigates the impact of regional integration on macroeconomic indicators in the Eurasian Economic Union (EAEU) – a trade block created by the former Soviet republics in 2014. This study compares two types of regional collaboration strategies: first, unilateral trade liberalization with the one-sided opening of market access that does not imply any mutual concessions, and second, reciprocal regional liberalization evaluated as the degree of regional economic integration between the countries. We apply a random effect panel data analysis with the dataset over 25 years since 1995 covering five countries (Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia). We find that, under the current stage, the EAEU positively affects trade flows, negatively affects the level of employment, and has no impact on other economic performance indicators. We also conclude that despite the declared level of economic integration – customs union – Eurasian block functions mainly as a free trade area facilitating mutual trade, which is different from the broader objectives that regional integration aims to achieve.

Item Type	Article
URI	https://reading-clone.eprints-hosting.org/id/eprint/109758
Identification Number/DOI	10.1080/15387216.2022.2163414
Refereed	Yes
Divisions	Henley Business School > Digitalisation, Marketing and Entrepreneurship
Uncontrolled Keywords	Economics and Econometrics, Geography, Planning and Development
Publisher	Informa UK Limited
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