Issue № 78. February 2020

Regulation of Economic Activity in the EAEU: Trends and Prospects of Cooperation

Igor N. Molchanov — DSc (Economics), Professor, Professor of Department of Political Economy, Faculty of Economics, Lomonosov Moscow State University, Moscow, Russian Federation; Professor of Department of Public Finance, Financial University under the Government of the Russian Federation, Moscow, Russian Federation.
E-mail:  INMolchanov@fa.ru 

Natalya P. Molchanova — DSc (Economics), Associate Professor, Professor of Department of Public Finance, Financial University under the Government of the Russian Federation, Moscow, Russian Federation.
E-mail:  NPMolchanova@fa.ru 

In this article, the current state of economic and social processes regulation within the EAEU common economic space, emerging under the influence of regionalization and integration, is investigated. The works of a number of authors on the problems of interstate cooperation of the EAEU members, other economic unions and partnerships are considered. An analysis of various aspects of the interaction and integration of the EAEU member states has been provided. The research unveils the reasons determined by peculiarities of the national legislation and the regulatory framework of the EAEU member countries, which make the development of cooperation and economic relations between them complicated, and identifies ways to overcome existing imperfections. The influence of the applied information and communication technologies and the emerging digital infrastructure on the effectiveness of the economic activity of the Union is disclosed. The need for more active positioning of the benefits of Eurasian economic integration and the EAEU single market through the organization of scientific and public events in various forms, in order to increase interest and create additional opportunities for cooperation, is justified. Russian experience and proposals on the possibilities of influencing sectorial, territorial and social proportions, the application of economic methods and tools for the development of entrepreneurship, especially in industries, agriculture, transport and improving financial regulation through the application of tax and non-tax methods in the activities of business entities of the Member States Union are presented and analysed. The authors give recommendations on enhancing cooperation on a mutually beneficial basis, creating a common financial market in the EAEU as part of the stock, insurance and banking sectors. The feasibility of cooperation in training personnel, reforming the WTO and other productive options for interstate partnership for the long term is justified.

Keywords

Interstate cooperation, financial and economic regulation, sectorial and territorial proportions, improvement of social structure, macro-regional priorities.

DOI: 10.24411/2070-1381-2020-10033