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.
Keywords
About the Authors
K. K. BelgibayevaKazakhstan
Kuralay K. Belgibayeva – Cand. Sc. (Econ.), Associate Professor
29 Dukenuky Str., Astana
Yu. V. Bayeva
Kazakhstan
Yuliya V. Bayeva – PhD, Associate Professor
11 Kazhimukan Str., Astana
F. T. Alimbayev
Kazakhstan
Farkhad T. Alimbayev – PhD
57A Mangilik El Avenue, Astana
L. T. Alimbayeva
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