Introduction to the Eurasian Economic Union

verfasst von: Evgeny Vinokurov

Verlag: Springer International Publishing

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

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Über dieses Buch

The Eurasian Economic Union (EAEU), which includes Russia, Kazakhstan, Belarus, Kyrgyzstan, and Armenia, is a new but substantial regional organization. Significant achievements include a common external customs tariff, a customs union and a common labour market: a well-developed institutional environment has emerged to support and advance these processes, ranging from the Eurasian Economic Commission and the EAEU Court to the Eurasian Development Bank and the Eurasian Fund for Stabilization and Development. This major integration achievement also has several drawbacks and ‘stumbling stones’—some due to Russia’s dominant position, some due to the authoritarian nature of political regimes, and some due to dependence on oil and gas exports.

This book presents a detailed qualitative and quantitative assessment of the Eurasian Economic Union, including the history of Eurasian integration, the macroeconomy of EAEU member states, an assessment of trade and investment links, a descriptive analysis of the EAEU Treaty, an analysis of Eurasian institutions, the sociology of integration, the EAEU’s emerging foreign economic policy, relations with the EU and China, the EAEU’s position on One Belt One Road policies, and its mid-term policy agenda. This primer text will be of interest and value for students, academics and practitioners working in economic policy and business communities and interested in the history and development of the Eurasian Economic Union.

Inhaltsverzeichnis

Frontmatter

1. The History of Eurasian Integration: 1991–2016

Abstract

This chapter presents a concise overview of the history of the post-Soviet integration that began in 1991. We start with the disintegration processes of the 1990s and the first half of the 2000s. We describe the mechanisms of the “civilized divorce” between the former republics of the Soviet Union. We then identify the newly independent states’ first attempts to secure major trade, economic, and infrastructure ties with one another, including several false starts. We discuss in depth the path from the establishment of the Customs Union Commission and the enactment of the Common Customs Tariff to the signing of the agreement to create the Single Economic Space. Finally, we look at the EAEU Treaty that came into effect in 2015.

Evgeny Vinokurov

2. Economic and Social Ties

Abstract

We start with an overview of EAEU member states’ economies: Armenia, Belarus, Kyrgyzstan, Kazakhstan, and Russia. We highlight a number of structural features (such as Russia’s dominance in the EAEU in terms of its GDP, population, and role as an exporter of raw materials) that represent challenges for the EAEU’s long-term development as a regional integration project. We describe the high density of economic ties within the post-Soviet space (including railways, electric power, and supply chains) and consider it as an underlying reason for integration. We give special attention to the levels of convergence among EAEU member states’ economies. A long paragraph describes the intricacies and dynamics of public perception of Eurasian integration in all EAEU states and other post-Soviet states (i.e., what people think of integration and how their thinking changed over time).

Evgeny Vinokurov

3. EAEU Institutions

Abstract

Here we focus in much detail on the EAEU’s principal document—the Treaty on the Eurasian Economic Union (EAEU), which came into force in 2015. The chapter also presents a detailed analysis of EAEU institutions, in particular the Supreme Eurasian Economic Council, Eurasian Intergovernmental Council, Eurasian Economic Commission, Court of the EAEU, Eurasian Development Bank, and Eurasian Fund for Stabilization and Development.

Evgeny Vinokurov

4. Common Markets Within the Eurasian Economic Union: Movement of Goods, Services, Labour, and Capital

Abstract

Central to the book, this chapter describes different facets of the EAEU common markets, their progress, and various constraints. We do this to establish a balanced view of Eurasian integration’s relative successes and failures. First, we analyse the Customs Union (CU) by itself, with particular attention given to the dynamics of single customs tariffs. Second, we provide detailed information on the Eurasian Union’s mutual and external trade. Third, we describe the progress made on the common markets’ “road map”, which envisages additional common markets for pharmaceuticals and medical equipment (2017), electric power (2019), financial markets (2022–2025), and oil and gas (2024–2025). Fourth, we provide a detailed picture of the state of affairs concerning non-tariff barriers. We illustrate both progress and substantial headwinds as concerns their elimination/unification. Here we also explain progress on technical regulation. Fifth, a long paragraph delves into the common labour market, including the dynamics of labour migrants and remittances, legal framework for the common labour market, and issue of pension mobility. Sixth, we provide an abundance of data on mutual investment in the EAEU and beyond Eurasia in general. Finally, we present a discourse on the coordination of macroeconomics and monetary policies.

Evgeny Vinokurov

5. Eurasian Economic Union: Foreign Economic Relations

Abstract

In this chapter, we focus on the EAEU’s foreign economic relations. We start with the EAEU’s emerging network of free trade and economic agreements, most of them still in the making (Vietnam, Singapore, Israel, Iran, etc.). The current state of cooperation with both the European Union and China follows. For China, after reviewing the state of trade and investment relations, we look at both the perspectives of the Belt and Road Initiative and at the EAEU-China draft agreement on economic cooperation. We also address the perspectives of new states joining the EAEU and EAEU member states’ ability to withdraw from the Union.

Evgeny Vinokurov

6. A “Normal” Regional Organization: Explaining Eurasian Integration

Abstract

In this final chapter, we discuss the theoretical and ideological background of Eurasian integration. Here, we highlight the specific nature of Eurasian integration and develop the theoretical concept of holding-together integration that applies best in this case. A comparative analysis of the EAEU with other large regional integration organizations follows. Then we discuss various policy proposals based on the international experience of regional integration organizations across the world.

Evgeny Vinokurov

Backmatter

Titel: Introduction to the Eurasian Economic Union
verfasst von: Evgeny Vinokurov
Verlag: Springer International Publishing
Electronic ISBN: 978-3-319-92825-8
Print ISBN: 978-3-319-92824-1
DOI: https://doi.org/10.1007/978-3-319-92825-8