IDEAS home Printed from https://ideas.repec.org/a/ura/ecregj/v1y2016i3p695-702.html

Eurasian Economic Union and Prospects of Development of Transnational Corporations in the Frame of the Globalization

Author

Listed:
  • Anatoliy Spitsyn

    (Ranepa)

  • Galiya Kulubekova

    (L.N.Gumiliov Eurasian National university)

Abstract

The purpose of this article is to study the processes of regional integration and its particular features in the frame of the Eurasian Economic Union formation and their impact on the development of transnational corporations in the region. The authors used the scientific and methodological basis including an integrated approach and economic, institutional and organizational methods, theoretical and methodological studies of domestic and foreign scientists. In order to achieve the defined aim of this research, the authors used the retrospective method and method of comparative analysis, studied the statistical data, including the reports of the United Nations Conference on Trade and Development and the World Bank’s ratings. The authors studied the historical background of the Eurasian Economic Union, analyzed the current economic situation in its Member States, and considered the experience of other regional alliances. According to the results of the research, the authors formulated the conclusions in the context of the most likely prospects for the development of transnational corporations in the frame of the integration of the Member States of the Eurasian Economic Union. In particular, the study of the experience of other regional associations presumes that the process of regional economic integration will have a positive impact on the dynamics of the attraction of foreign direct investment inflows in the region. In addition, regional integration will mitigate the problem of “limited†markets of the Member States of the Economic Union and, therefore, will help to increase the amount of investment resources in the manufacturing industry and services sector of the economy. The creation of the common energy markets in the framework of the new regional association would strengthen the resource-oriented domestic large-scale business and prepare the groundwork for the emergence of new transnational corporations, cooperating within the Eurasian Economic Union. The research results can be applied in theory as a basis for the further studies of regional economic integration in the frame of the Eurasian Economic Union. Besides this, the analytical results of the research are of practical importance because they can be used for the purpose of the further development of the Eurasian Economic Union and harmonization of legislation of the Member States.

Suggested Citation

  • Anatoliy Spitsyn & Galiya Kulubekova, 2016. "Eurasian Economic Union and Prospects of Development of Transnational Corporations in the Frame of the Globalization," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(3), pages 695-702.
    • Handle: RePEc:ura:ecregj:v:1:y:2016:i:3:p:695-702
    as

    Download full text from publisher

    File URL: http://economyofregion.ru/Data/Issues/ER2016/September_2016/ERSeptember2016_695_702.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Çaglar Özden & Francisco J. Parodi, 2004. "Customs Unions And Foreign Investment: Theory And Evidence From Mercosur’s Auto Industry," Working Papers Central Bank of Chile 282, Central Bank of Chile.
    2. Borensztein, E. & De Gregorio, J. & Lee, J-W., 1998. "How does foreign direct investment affect economic growth?1," Journal of International Economics, Elsevier, vol. 45(1), pages 115-135, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Matija Rejec & Slavica Penev, 2011. "Attractiveness of Western Balkan Countries for FDI," Book Chapters, in: Mirjana Radovic Markovic & Srdjan Redzepagic & João Sousa Andrade & Paulino Teixeira (ed.), Serbia and the European Union: Economic Lessons from the New Member States, edition 1, volume 1, chapter 2, pages 27-46, Institute of Economic Sciences.
    2. repec:ilo:ilowps:366690 is not listed on IDEAS
    3. Iamsiraroj, Sasi, 2016. "The foreign direct investment–economic growth nexus," International Review of Economics & Finance, Elsevier, vol. 42(C), pages 116-133.
    4. Jin, Hyun Joung & Kim, Jang-Chul & Su, Qing, 2025. "Economic freedom and market resilience: Safeguarding liquidity in times of crisis," Journal of Multinational Financial Management, Elsevier, vol. 79(C).
    5. Reis, Anabela & Heitor, Manuel & Amaral, Miguel & Mendonça, Joana, 2016. "Revisiting industrial policy: Lessons learned from the establishment of an automotive OEM in Portugal," Technological Forecasting and Social Change, Elsevier, vol. 113(PB), pages 195-205.
    6. Sodiq Arogundade & Mduduzi Biyase & Hinaunye Eita, 2021. "Foreign Direct Investment and Inclusive Human Development in Sub-Saharan African Countries:Does local Economic Conditions Matter?," Economic Development and Well-being Research Group Working Paper Series edwrg-01-2021, University of Johannesburg, College of Business and Economics, revised 2021.
    7. Sebastian Edwards & Domingo F. Cavallo & Arminio Fraga & Jacob Frenkel, 2003. "Exchange Rate Regimes," NBER Chapters, in: Economic and Financial Crises in Emerging Market Economies, pages 31-92, National Bureau of Economic Research, Inc.
    8. Njangang, Henri & Nembot Ndeffo, Luc & Noubissi Domguia, Edmond & Fosto Koyeu, Prevost, 2018. "The long-run and short-run effects of foreign direct investment, foreign aid and remittances on economic growth in African countries," MPRA Paper 89747, University Library of Munich, Germany.
    9. Maria Cipollina & Giorgia Giovannetti & Filomena Pietrovito & Alberto F. Pozzolo, 2012. "FDI and Growth: What Cross-country Industry Data Say," The World Economy, Wiley Blackwell, vol. 35(11), pages 1599-1629, November.
    10. Ouyang, Yaofu & Li, Peng, 2018. "On the nexus of financial development, economic growth, and energy consumption in China: New perspective from a GMM panel VAR approach," Energy Economics, Elsevier, vol. 71(C), pages 238-252.
    11. Philipp Harms & Pierre-Guillaume Méon, 2013. "The Growth Effects of Greenfield Investment and Mergers and Acquisitions: Econometric Investigation and Implication for MENA Countries," Working Papers 794, Economic Research Forum, revised Nov 2013.
    12. Linda S Goldberg, 2009. "Understanding Banking Sector Globalization," IMF Staff Papers, Palgrave Macmillan, vol. 56(1), pages 171-197, April.
    13. Uwaoma G. Nwaogu & Michael J. Ryan, 2015. "FDI, Foreign Aid, Remittance and Economic Growth in Developing Countries," Review of Development Economics, Wiley Blackwell, vol. 19(1), pages 100-115, February.
    14. Udi Joshua & Festus V. Bekun & Samuel A. Sarkodie, 2020. "New Insight into the Causal Linkage between Economic Expansion, FDI, Coal consumption, Pollutant emissions and Urbanization in South Africa," Working Papers 20/011, European Xtramile Centre of African Studies (EXCAS).
    15. Darmo Ľubomír & Ognjanović Ivana, 2025. "Does the Foreign Direct Investment Enhance Digital Readiness?," South East European Journal of Economics and Business, Sciendo, vol. 20(1), pages 100-112.
    16. Peter Nunnenkamp, 2001. "Too Much, Too Little, or Too Volatile? International Capital Flows to Developing Countries in the 1990s," East Asian Economic Review, Korea Institute for International Economic Policy, vol. 5(1), pages 119-147.
    17. Faria, Andr & Mauro, Paolo, 2009. "Institutions and the external capital structure of countries," Journal of International Money and Finance, Elsevier, vol. 28(3), pages 367-391, April.
    18. Musakwa Mercy T. & Odhiambo Nicholas M., 2019. "Foreign Direct Investment Dynamics in South Africa: Reforms, Trends and Challenges," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Sciendo, vol. 29(2), pages 33-53, June.
    19. Akhilesh Prabhakar & Muhammad Azam & B. Bakhtyar & Yusnidah Ibrahim, 2015. "Foreign Direct Investment, Trade and Economic Growth: A New Paradigm of the BRICS," Modern Applied Science, Canadian Center of Science and Education, vol. 9(12), pages 1-32, November.
    20. Görg Holger & Marchal Léa, 2019. "Die Effekte deutscher Direktinvestitionen im Empfängerland vor dem Hintergrund des Leistungsbilanzüberschusses: Empirische Evidenz mit Mikrodaten für Frankreich," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 20(1), pages 53-69, June.
    21. Marwa Lazreg & Ezzeddine Zouari, 2018. "The relationship between FDI, poverty reduction and environmental sustainability in Tunisia," Working Papers hal-01756733, HAL.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ura:ecregj:v:1:y:2016:i:3:p:695-702. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Alexey Naydenov (email available below). General contact details of provider: http://www.economyofregion.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.