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Do economic crises impede or advance regional economic integration in the post-Soviet space?

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  • Evgeny Vinokurov
  • Alexander Libman

Abstract

This article investigates the effect of economic crises on the development of post-Soviet regional integration, focusing on Russia-Kazakhstan relations and particularly the case of the Belarus, Russia and Kazakhstan customs union. While the literature often argues that crises are accompanied by growing protectionism, we observe a substantially more complex relation. We find that crises as a rule result in an increase in integration rhetoric and can also result in an increase in actual economic and institutional integration. However, the actual integration effort goes up only when a crisis has followed a prolonged period of economic growth, i.e. the countries have accumulated sufficient reserves. At the same time, the existing ties must be strong, with no viable alternative available to the policy makers. Otherwise there is too strong an incentive to use protectionist measures to compensate for the decrease in budgetary revenue.

Suggested Citation

  • Evgeny Vinokurov & Alexander Libman, 2014. "Do economic crises impede or advance regional economic integration in the post-Soviet space?," Post-Communist Economies, Taylor & Francis Journals, vol. 26(3), pages 341-358, September.
    • Handle: RePEc:taf:pocoec:v:26:y:2014:i:3:p:341-358
    DOI: 10.1080/14631377.2014.937094
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    1. Aaron Tornell, 1995. "Are Economic Crises Necessary for Trade Liberalization and Fiscal Reform? The Mexican Experience," NBER Chapters, in: Reform, Recovery, and Growth: Latin America and the Middle East, pages 53-76, National Bureau of Economic Research, Inc.
    2. Marek Dabrowski, 1995. "The Reasons of the Collapse of the Ruble Zone," CASE Network Studies and Analyses 0058, CASE-Center for Social and Economic Research.
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    Cited by:

    1. Popescu Raluca Maria, 2021. "European Union vs. Eurasian Union – a brief comparative analysis and perspectives for cooperation," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 15(1), pages 1294-1304, December.
    2. Libman, Alexander & Obydenkova, Anastassia, 2017. "Why Is the ‘Post-Soviet’ Regionalism Post-Soviet? Historical Legacies and Regional Integration in Eurasia," MPRA Paper 83506, University Library of Munich, Germany.
    3. Libman, Alexander, 2015. "Ukrainian Crisis, Economic Crisis in Russia and the Eurasian Economic Union," MPRA Paper 63861, University Library of Munich, Germany.
    4. Azimzhan Khitakhunov & Bulat Mukhamediyev & Richard Pomfret, 2017. "Eurasian Economic Union: present and future perspectives," Economic Change and Restructuring, Springer, vol. 50(1), pages 59-77, February.
    5. Libman, Alexander & Vinokurov, Evgeny, 2016. "Региональные Организации: Типы И Логика Развития [Regional Organizations: Typology and Development Paths]," MPRA Paper 79383, University Library of Munich, Germany.
    6. Libman Alexander, 2023. "The Rise and Fall of the Eurasian Regionalism," The Economists' Voice, De Gruyter, vol. 20(2), pages 267-274, December.
    7. Vinokurov, Evgeny, 2017. "Eurasian Economic Union: Current state and preliminary results," Russian Journal of Economics, Elsevier, vol. 3(1), pages 54-70.

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