Eurasian Economic Union Countries Research Articles

Asymmetry of the economic development of the Eurasian Economic Union: analysis and recommendations

The article analyses the asymmetry of the development of the Eurasian Economic Union countries (hereinafter referred to as the EAEU). The objective of the work is to analyse the symmetrical development of countries within the framework of the EAEU and to formulate measures and recommendations for increase of the economic potential of the countries. In order to achieve the purpose, the objective of comparative assessment on the basis of three indicators was set and overcome. The three indicators include gross domestic product per capita, investments per capita and average accrued salary. The corresponding calculations were done for each indicator, and graphs were constructed showing the general state of the economic development. During the study, the methods of factor and system analysis were applied. The initial data for the study were the official sources of the statistical authorities of the EAEU countries, the Interstate Statistical Committee of the Commonwealth of Independent States as well as publications and scientific articles related to this topic. The main problem is the uneven economic development of the EAEU member states which leads to negative consequences for strengthening the integration process. As a result of the study, some measures were proposed to achieve the symmetrical development of the countries within the framework of the EAEU, and recommendations were prepared for the effective development of interaction between the member countries of the integration association. Following the results of this work, a conclusion was formulated on strengthening ties between the countries by focusing on a mixed economy with government regulation, infrastructure development and increased investment activity.

Current State and Prospects for Developing Carbon Integration in the Eurasian Space

The processes of decarbonisation of the world economy, expressed among other things in the increasing use by states of carbon pricing mechanisms and the strengthening of the role of green protectionism in international trade, create certain challenges for the competitiveness of the economies of the Eurasian Economic Union (EAEU) countries, setting them the task of harmonizing national approaches within the framework of the climate agenda and subsequent carbon integration. This article, based on a comprehensive analysis of the economic and legal aspects of national and supranational climate regulation, examines factors that can contribute to the development of such integration in the Eurasian space, and identifies existing and potential challenges that could have an impact on it. We propose a definition of carbon integration as one of the areas of climate integration, analyzed the current conditions for its development, and identified potential measures for its further improvement and regulation in the EAEU. The authors come to the conclusion that, despite such factors as the initial stage of climate integration in the Eurasian space, the existing differences in the climate regulation regimes of the countries of the association (manifested among other things in the heterogeneity of the development of institutional and legal frameworks for the application of carbon pricing mechanisms), the scale of the consequences of introducing the European CBAM (Carbon Border Adjustment Mechanism) for the national economies of the countries under consideration, opportunities and conditions for investing in green projects and greening of production, carbon integration remains one of the necessary conditions for the successful development of trade and economic relations of the EAEU member states at both regional and global levels.

Energy prices and exchange rates in the Eurasian Economic Union: evidence from Fourier Toda-Yamamoto approach

ABSTRACT Even though there is a growing literature on the co-movement between energy and currency markets, this issue is still unclear for the Eurasian Economic Union (EEU) countries. Based on this gap in the literature, the purpose of this study is to analyse the dynamic relationships between energy prices (crude oil and natural gas) and exchange rates for the EEU countries (Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia) for the 2015–2022 period by means of cointegration and causality approaches without and with structural shifts. While the cointegration test without structural change does not find uniform steady-state equilibrium, considering structural change in the cointegration model reveals the existence of the long-run relationship between exchange rates and energy prices. The causality analysis uncovers predictive information between energy and currency markets in the EEU countries driven by the oil market; and accounting for smooth structural breaks in causality analysis based on the Fourier Toda-Yamamoto approach reinforces these findings. The empirical findings hence imply a strong co-movement between energy and currency markets in the EEU countries shaped by the oil market.

The Need to Harmonize the Labor Legislation of Pharmaceutical Workers of the Member States of the Eurasian Economic Union (EAEU)

The paper is devoted to topical issues of legal regulation of the work of pharmaceutical workers both at the level of international legal acts of the Eurasian Economic Union (EAEU) and at the level of national legislation of the member states. These problems include the lack of a uniform integrated approach to the regulation of the work of pharmaceutical workers in international legal acts and its fragmentation. This leads to a decrease in the effectiveness of legal regulation of these categories of subjects of labor law. The situation gives rise to two dialectically interrelated trends at the EAEU level. On the one hand, international legal acts on the drug market of this organization contain norms that regulate the work of pharmaceutical workers. On the other hand, these norms do not cover all aspects of the work of pharmaceutical workers. The solution to this problem is seen in changing the international legal acts of the EAEU on the drug market by stipulating the norms regulating the work of pharmaceutical workers, considered in a single system and in close relationship with pharmaceutical activities. This is possible through the analysis, and in the future, the use of positive legal experience in regulating the labor of pharmaceutical workers in the EAEU countries to develop separate sections of the international legal acts of the EAEU in the field of regulation of the pharmaceutical market (in the form of appendices thereto).

РОССИЙСКАЯ ФЕДЕРАЦИЯ КАК ЦЕНТР НАУЧНО-ТЕХНИЧЕСКОЙ КООПЕРАЦИИ СТРАН-ЧЛЕНОВ ЕАЭС: АНАЛИЗ ПУБЛИКАЦИОННОЙ АКТИВНОСТИ И ПЕРСПЕКТИВЫ РАЗВИТИЯ

The study examines the representation of scientific research outcomes from member countries of the Eurasian Economic Union (EAEU) within the Russian scientific database eLIBRARY.RU in the field of economics and economic sciences. Methods of scientometric and bibliometric analysis were employed to analyze metadata from over 12 publications available in the scientific databases eLIBRARY.RU, Scopus, and Crossref. Recommendations have been formulated for the overall development of the Russian Federation and, specifically, for the eLIBRARY.RU platform as a center for scientific and technical cooperation among EAEU member countries. The results show that among the authors registered on the platform from the EAEU countries (other than the Russian Federation), the share of authors-economists from Belarus is higher than from Kyrgyzstan, Kazakhstan and Armenia, however, it is generally small. The authors from Kazakhstan, Kyrgyzstan and Armenia have a similar distribution of average values in terms of published materials, however, unlike Belarus, there are almost no registered economic authors with a significant number of publications in these countries. A significant absence of previously published works, archival data and an extremely small number of indexed economic scientific peer-reviewed publications from the EAEU member states were also revealed on the platform. None of the journals of Russia’s EAEU counterpart countries presented on the eLIBRARY.RU, is not included in the list of the Higher Attestation Commission, the core of the RSCI, Web of Science or Scopus. In addition, it was determined that in the EAEU countries there is a wide range of thematic areas of economic and interdisciplinary research covering education, digital technologies, agriculture and other areas. Among them there are general thematic areas that unite science in the EAEU countries, including globalization, digital transformation, agriculture, sustainable development, innovation, education and others. Based on the results obtained, the team of authors formed recommendations for the development of the Russian Federation as a whole, and the eLIBRARY. RU, in particular, as a center for scientific and technical cooperation of the EAEU member states.

Պարենային անվտանգության ոլորտում ԵԱՏՄ երկրների համագործակցության զարգացման հնարավորությունները և ռիսկերը/ OPPORTUNITIES AND RISKS OF COOPERATION DEVELOPMENT IN THE FIELD OF FOOD SECURITY OF EAEU COUNTRIES

At present, the world is very concerned. This is connected with the policy of the formation of a new world order and the transfer of spheres of influence on the part of the great powers. The indefinite cessation of the Armenian-Azerbaijani conflict, the unpredictable Russian-Ukrainian war, in which the USA and Western Europe participate in supporting Ukraine, the ongoing confrontations in the countries of the Middle East, especially in Syria, Israel and Yemen, the position of the Islamic Republic of Iran in them and, finally, China-Taiwan and the South, as well as the tension between North Korea, are serious concerns about a new world war. This situation, as well as threats of global climate change, seriously affect the normal state of international trade and people's well-being. Moreover, the implementation of the declared UN Sustainable Development Goals is under serious threat. Although the Republic of Armenia is a country with a small territory and a limited population, it is not isolated from world events and is integrated into the Eurasian Economic Union (EAEU), but it is to one degree or another subject to the influence of global and regional tensions. This influence is especially evident in the military, political and economic spheres. Nevertheless, the food supply sector is more sensitive, as it is directly related to the daily nutrition of the population, or, figuratively speaking, the provision of daily bread. This paper presents the state of food security in EAEU countries, trade in food products within the Union, in particular, opportunities for cooperation with Armenia and existing risks.

Open Budget Effect on Corruption in the EAEU Countries

Until 1991, the Eurasian Economic Union (EAEU) countries, namely Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia, were part of the unified budget system of the USSR. After the collapse of the Soviet Union and subsequent independence, the countries began to pursue an independent fiscal policy. In all five countries, a number of reforms have been implemented that have resulted in changes in the organization of fiscal policy, the creation of new fiscal institutions and the corresponding legal framework. Aim . To reveal the open budget effect on the corruption on the cases of the EAEU countries.Tasks. We analyze data from international organizations that assess the current situation in these countries.Methods. We assess the impact of open financial data (according to the Open Data Inventory, ODIN, prepared by Open Data Watch) on corruption for the five EAEU countries (2015–2020) based on unbalanced panel data analysis.Results . The hypothesis posed about the positive anti-corruption impact of an open budget in the EAEU countries was confirmed. We found that the quality of regulation and openness of the budget can affect the reduction of corruption.Conclusion. It is concluded that the EAEU countries differ significantly in anti-corruption and open budget policies and practices, as well as in the international organizations indices.

РАЗВИТИЕ МАРКЕТИНГОВОЙ ПОЛИТИКИ КОММЕРЧЕСКИХ БАНКОВ В СТРАНАХ ЕАЭС

Member countries of the Eurasian Economic Union (EAEU) highlight digital transformation as a priority strategic direction of development within the framework of the integration association. Active implementation of digital technologies will significantly increase the competitiveness of companies. The development and implementation of technological innovations are becoming important in business development and digital transformation in the EAEU countries. The subject of this study is marketing policy in the EAEU countries. The article presents an analysis of the role of technological innovation in business development and digital transformation in the EAEU countries; the features of creating a favorable digital business environment in the countries of the Union are considered, the positions of the EAEU in the global innovation index and other international rankings are analyzed. The study identified problems that require resolution for businesses to achieve their goals in the digital economy, and opportunities for business with the further diffusion of digital technologies.

Gravitational model: analysis of mutual trade of the Eurasian Economic Union countries

This study presents the aggregative data analysis concerning foreign trade of the Eurasian Economic Union (hereinafter referred to as EAEU) countries. A gravity model of the foreign trade in several modifications between 2011 and 2019 (the period before the COVID-19 pandemic) was applied. On the basis of the conducted research it was discovered how fast the impact of the distance factor between foreign economic partners decreases with consideration to the time factor. Also those industries and spheres of activity were identified where the factor may be the least important or where the model is not applicable at all. Besides, the authors gave recommendations to include additional factors in the gravitational model if it is applied for analysis and forecasting of foreign trade with border states or states that are not part of the EAEU.

REVIEW AND ANALYSIS OF ANTHRAX DIAGNOSTIC TOOLS ON THE TERRITORY OF EURASIAN ECONOMIC UNION

This review examines anthrax diagnostic tools registered in the national Veterinary Drugs Registers and Medicines and Medical Devices Registers of the Eurasian Economic Union (EAEU). Actually, throughout the entire territory of the EAEU, there are natural soil foci of anthrax, which causes annual cases of infection of animals and people. Continuous monitoring of the epidemiological situation in the EAEU countries should be ensured by modern diagnostic tools. All diagnostic tools used for epidemiological surveillance must be registered in the national registers of the EAEU countries. For all test systems and diagnostic kits included in the registers of the EAEU countries, the authors provide comparative characteristics that reflect the sensitivity and specificity of diagnostic tools. An analysis of various methods for identifying the anthrax pathogen, focused on modern molecular diagnostic technologies, is presented. The authors discuss the most important problems associated with improving the efficiency of modern methods for detecting the bacterium Bacillus anthracis. Some considerations about the shortcomings in certain areas of early diagnosis of the anthrax microbe are also provided. The authors present a number of proposals that should improve the efficiency of the currently available anthrax monitoring system.

Economic crime in the new Kazakhstan – a comparative analysis of the criminal legislation of EAEU member states

Relevance. Economic criminal offences are a factor in slowing a country's development. The number of such crimes is growing rapidly around the world, and the methods of committing them are becoming increasingly sophisticated, which determines the relevance of establishing new methods of countering economic crime and reforming legislation in this area, including in the member states of the Eurasian Economic Union. Purpose. The purpose of this article is to explore the essence, characteristics and features of economic crime, as well as the grounds for criminal liability for economic crimes in the Eurasian Economic Union countries. Methodology. The methodological basis of the study was dialectical and comparative methods, case study, abstraction, methods of system-structural and logical analysis, methods of registration and ranking, method of generalisation, which allowed to clarify the concepts and characteristics of economic crime; to consider available definitions of economic crime and individual provisions of the regulatory framework of Eurasian Economic Union member states on the regulation of economic crime; to characterise the legal nature of economic crime; to analyse the main scientific and methodological developments in this area. Results. The types of economic crimes in the member states of the Eurasian Economic Union were compared; to compare types of economic crime in the Eurasian Economic Union member states; to identify current trends in economic crime within the Eurasian Economic Union; to find out the main advantages of each Eurasian Economic Union member state's national legislation to combat economic crime; to classify possible economic crimes; and to determine the number of economic crimes committed and record their rates in each Eurasian Economic Union state; to characterise the specifics of countering economic crime in the Eurasian Economic Union. Conclusions. The significance of the research results is to provide practical recommendations for improving the legal regulation of relations in the sphere of economic crime, as well as in the process of implementing policies and taking public management decisions in the field of countering economic crime in the Eurasian Economic Union states.

Demographic Dynamics and Social Transformation in the EAEU

The paper studies demographic changes characterizing new trends in population reproduction in the countries of the Eurasian Economic Union (EAEU), which differ significantly in the level and rate of population aging. The purpose of the research is to develop proposals for improving social institutions aimed at the development of the EAEU in the context of changes in the age structure of the population. The Eurasian Economic Union is a relatively new but rapidly developing regional integration organization, in a certain sense forming the core of the Commonwealth of Independent States (CIS). At the same time, the transition to subsequent integration stages is impossible without the development of social institutions of the EAEU. Currently, the development of social programs and norms for the formation of common social values is not included in the tasks of regional unions in the post-Soviet space or is considered only in passing. Nevertheless, for further integration it becomes essential to take into account demographic trends as factors in the development of the EAEU. The article shows that over the past six years (2017–2022) in the field of natural reproduction, demographic trends in the member countries of the Union had different directions. The greatest impact on the demographic development of the EAEU is exerted by changes in the population of the Russian Federation, although in recent years there has been a slight decrease in the share of Russia in the total population of the Union. The population of the EAEU countries has significant differences in age structure, however, all five member countries of the Union are affected by the process of demographic aging. The article presents a number of proposals aimed at including demographic changes as a factor in the development of the EAEU. These include the preparation of a comprehensive program of interaction on general humanitarian issues, primarily in the field of education and the preservation of cultural values as the basis for the connection between generations.

Illegal imports of tobacco and tobacco products into Russia from the EAEU countries: assessment and areas of minimization

Tobacco and tobacco products are in demand in Russian domestic market, which is characterized by shadow segment growth in recent years. Main share in Russian shadow tobacco market structure is represented by imported and counterfeit products. The article assesses the scale of illegal importation of tobacco and tobacco products into Russia from the Eurasian Economic Union countries (hereinafter – EAEU) in 2018–2022. The authors consider the factors contributing to illegal imports of tobacco products growth from the territories of the EAEU member states. The urgent problems of counteracting violation of the order of tobacco and tobacco products importation from the union states have been identified. Measures aimed at ensuring legality of mutual trade in the goods under consideration within the EAEU and reducing the volume of their illegal import into Russia from the territories of the Union member states have been proposed.

EAEU’s Human Potential: New Risks and Opportunities for Development

This study is aimed at studying human potential, its development and implementation in the Eurasian Economic Union (EAEU). Taking into account the commitments made by the countries of the Union to achieve the Sustainable Development Goals (SDGs) in accordance with Agenda 2030 and under sanctions pressure from hostile countries.Aim. To present the human potential of the integration association as a complex phenomenon of the socio-economic relations of the integrating countries, as well as to identify the emerging risks and offer practical recommendations for reproducing the human potential within the EAEU.Tasks. To trace the dynamics of indicators of development and realization of human potential in each country of the EAEU and the aggregate human potential of the EAEU, to reveal the features of reproduction of human potential by dividing it into qualitative and functional forms, to identify modern risks for reproduction of human potential of the EAEU and new opportunities for development.Methods. To compare indicators of human development of the EAEU countries, the method of comparative analysis is used. In the part of the human potential of the EAEU, it is proposed to take into account new risks for ensuring sustainable human development in the integration association, which make it possible to make methods of analysis and synthesis, induction and statistical method.Results. Based on the analysis of the dynamics of development of such forms of human potential as health potential, educational potential and labor potential, accumulated problems, modern challenges and risks for reproduction of human potential of each EAEU country.Conclusion. The EAEU can no longer remain only an economic integration project, and it is time to expand the horizons of interaction between countries, including on the sphere of development and the realization of human potential. By taking into account new risks, countries need to coordinate the directions of development of the EAEU’s total human potential within the framework of commitments to achieve the Sustainable Development Goals in accordance with Agenda 2030 and under the conditions of ongoing sanctions pressure from hostile countries.

НЕОБХОДИМОСТЬ ВОВЛЕЧЕНИЯ ПОТРЕБИТЕЛЕЙ В СИСТЕМУ ФАРМАКОНАДЗОРА СТРАН ЕАЭС

One of the indicators of the effectiveness of the pharmacovigilance system is the number and quality of spontaneous reports of cases of adverse reactions (AR). It is important to receive spontaneous reports from both medical and pharmaceutical workers and from drug users in order to assess the true nature of the adverse reaction. This article discusses the problems of a limited number of spontaneous reports from patients and low awareness of the population on the safety and effectiveness of drugs in the countries of the Eurasian Economic Union (EAEU). The aim of this article was to analyze the attitude of drug users to the submission of spontaneous reports of adverse reactions to medications. To achieve this aim, a sociological study was conducted based on a survey of drug users. The study involved 800 drug users. This study found that in the EAEU countries, patients face adverse reactions or lack of effectiveness of therapy, but unlike the Russian Federation, consumers of the Republics of Belarus, Armenia and the Kyrgyz Republic don’t report this information to state regulatory authorities, pharmacy organizations, or manufacturers of medicines. Less than 20% of respondents know about filling out a notice of an adverse reaction or lack of therapeutic effect of a drug on the Roszdravnadzor website. In our opinion, the involvement of drug users in the spontaneous reporting system has many advantages and can help solve the current problem of underestimating data on adverse reactions.

INVESTMENT COOPERATION OF THE EAEU COUNTRIES IN CONDITIONS OF ECONOMIC INSTABILITY

In the conditions of modern international political contradictions, the main task for any state is to strengthen trade, economic and investment cooperation with neighboring countries. On January 1, 2015, the Eurasian Economic Union (EAEU), which unites the states of Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan, began its work. The purpose of this regional integration organization is the freedom of movement of goods, services, capital and labor, as well as ensuring the implementation of a coordinated, coordinated and unified policy in the sectors of the economy.Despite numerous studies devoted to the consideration of the foundations of mutual investment cooperation of the EAEU countries, the peculiarities of the modern world economy require studying the structure of mutual investment cooperation within the framework of the main geopolitical and macroeconomic partnership. The article analyzes the main trends in the investment activity of the EAEU member states based on mathematical statistics methods, analyzes the features of the structure of mutual direct investment, the volume of investments in the fixed capital of the Union countries by type of economic activity. In the course of the study, the problems facing the Union states on the way to effective investment cooperation were identified, the investment intensity index was evaluated and the prospects for economic and financial integration of mutual cooperation were determined.

ANALYSIS OF THE EAEU INDUSTRY DEVELOPMENTWITH THE USE OF A SINGLE ACCOUNTING UNIT

To analyze the development of industrial production in the Eurasian Economic Union (EAEU), the following data of the EAEU countries cannot be used: 1) presented in national currencies, since they cannot be summed up; 2) calculated at the rates of national currencies, since they contain changes thatdo not reflect their real dynamics; 3) calculated at purchasing power parities (PPP)of national currencies against the US dollar, since in dynamics they include inflation in the US. It is proposed to use data in a single accounting unit ESAU (economic and statistical accounting unit), which excludes inflation in the United States and, at the same time, includes the average inflation for the regional association, reflected in the dynamics of data in the national currency.

Regional economic integration in the Eurasian Economic Union: theory, lessons from the past and new opportunities

The article shows that the processes of world development initiate changes in various areas of international cooperation both at the global and regional levels. This is also happening within the framework of regional economic integration cooperation. The author proves that the modern transformation of integration processes has an impact on the development of the Eurasian Economic Union (EAEU). This process requires a comprehensive theoretical analysis and systematization. The purpose of the article is to analyze and evaluate integration processes in the EAEU. The scientific novelty of the article is the systematization of new phenomena and characteristics in regional economic integration in the world in the 21st century. The author also tries to formulate new tasks for the EAEU in building a progressive integration process. Another point of view, which the author substantiates in the article, is that the foundation for the development of integration in the EAEU should be taking into account ongoing global changes, previous experience of economic integration within the framework of the Council for Mutual Economic Assistance (Comecon) and the development of industrial cooperation between the EAEU countries and non-regional partners both in industry, and in agriculture, that means, in the real sectors of the economy. The author concludes that it is production cooperation in the real sectors of the economy in the EAEU that will ensure the necessary stability of both national economies and the progressive development of the integration process in the current conditions of the world economic process increased turbulence and the global system transformation. And since the EAEU faces such large-scale and vital tasks, then, according to the author, a reassessment and some redirection of integration efforts are required. It is on this basis that an adequate formation of new principles of financial cooperation in the EAEU is possible.

The effect of the COVID19 pandemic on the financial stability of the banking industry: the case of Eurasian Economic Union countries

The purpose of research is to identify the influence of bank-specific and macroeconomic variables on banking sector stability in the case of Eurasian Economic Union countries. For this purpose, it uses KASE and World Bank Database. The data was received from 10 commercial banks of the Eurasian Economic Union countries (Russia, Belarus, Kazakhstan, Kyrgyzstan, Azerbaijan, and Armenia) that cover the period 20162021.Methodology is the panel corrected standard error model (PCSE) to observe the relation of dependent and independent variables. Altman Z-score is used as an indicator of financial stability. Return of assets (ROA) is an indicator of company profitability.The originality / value of the research is a comparison of the factors that influence the stability and profitability of the banking industry in Eurasian Economic Union countries.The estimation findings of the research indicate that bank-specific and macroeconomic strongly impact the financial stability in the banking sector. For example, asset quality and corruption control are significantly and negatively related with banks' stability. On the other hand, return on assets (ROA), bank size, political stability, and time dummy effect on the stability of the banking system are positive and statistically significant.

Prospects and problems of creating the Eurasian economic union (EAEU) countries single electricity market

Prospects and problems of creating the Eurasian economic union (EAEU) countries single electricity market