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Structural Differences and Economic Growth of the Countries of the Eurasian Economic Union

https://doi.org/10.51176/1997-9967-2024-4-104-116

Abstract

In today’s uncertain circumstances, issues related to sustainable economic growth have become more relevant. However, little attention has been paid to the impact of economic integration on the growth of member countries. The purpose of this research is to identify differences in the structure of the EAEU countries and assess their growth. Methods of induction and deduction, analysis, synthesis, time series and calculations based on economic and statistical units of account were used. Gatev, Salai, and Ryabtsev indices were used to measure structural changes. Data were collected from annual statistical reports of the Eurasian Economic Commission for 2015 to 2022, covering key economic activities in Russia, Kazakhstan, Belarus, Armenia, and Kyrgyzstan. As part of the study, it was found that Russia’s share in the gross domestic product (GDP) of the Eurasian Economic Union (EAEU) accounts for 83-86%, with Kazakhstan in second place at 8-10% and Belarus in third place at 3-4%. These results partially confirm the hypothesis that integration processes in the EAEU can have ambiguous effects on structural changes and economic growth, and further coordination of policies among member countries is needed to increase production capacity utilization and strengthen cooperation. These results can be applied to the analysis of sectoral structural changes and the development of government programs aimed at improving regional structural economic policies in the EAU, contributing to long-term economic development.

About the Authors

K. K. Belgibayeva
Turan Astana University
Kazakhstan

Kuralay K. Belgibayeva – Cand. Sc. (Econ.), Associate Professor

29 Dukenuky Str., Astana



Yu. V. Bayeva
Kazakhstan Branch of Lomonosov Moscow State University
Kazakhstan

Yuliya V. Bayeva – PhD, Associate Professor

11 Kazhimukan Str., Astana



F. T. Alimbayev
National Bank of the Republic of Kazakhstan
Kazakhstan

Farkhad T. Alimbayev – PhD

57A Mangilik El Avenue, Astana



L. T. Alimbayeva
National Bank of the Republic of Kazakhstan
Kazakhstan

Laura T. Alimbayeva – master

57A Mangilik El Avenue, Astana



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Review

For citations:


Belgibayeva K.K., Bayeva Yu.V., Alimbayev F.T., Alimbayeva L.T. Structural Differences and Economic Growth of the Countries of the Eurasian Economic Union. Economy: strategy and practice. 2024;19(4):104-116. (In Russ.) https://doi.org/10.51176/1997-9967-2024-4-104-116

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ISSN 1997-9967 (Print)
ISSN 2663-550X (Online)