The Bulletin of the Institute of Economics of the Russian Academy of Sciences № 2/2025. World Economy. 

Valery L. Abramov

Dr. Sci. (Econ.), Professor, Chief Researcher at the Institute for Research of International Economic Relations, Financial University Under the Government of the Russian Federation, Moscow, Russia

ORCID: 0000-0002-6351-2594

Alexander D. Vasilchenko

PhD student at P.G. Demidov Yaroslavl State University, Yaroslavl, Russia

ORCID: 0000-0002-4904-1562

REGIONAL VALUE CHAINS AS A DRIVER OF TRADE INTEGRATION IN THE EURASIAN ECONOMIC UNION

144-166

603.52 KB

Full text

The article dissects main characteristics of the EAEU regional value chains. The hypothesis of a positive correlation between member states’ participation in regional value chains and their intraregional industrial exports has been tested. The results obtained suggest a preferential shift to industrial goods in the intraregional trade since the launch of the integration; the most punctuated this shift is in chemical industry products and machinery. The study also identifies country-specific patterns in the involvement of EAEU countries in regional value chains. Russia’s dependence on cooperative links with its EAEU partners is relatively low. In contrast, the exports of Belarus and Kazakhstan rely greatly on the Russian value added. Generally, value added flows within the Union are heavily skewed towards Russia. It has been unveiled that forward linkages in regional value chains impact positively on the volume of intraregional industrial exports. At the same time, Russia is increasing its industrial exports to third countries by leveraging the region’s production base. In our opinion, EAEU integration institutions need to implement new programs aimed at leveling of structural disproportions of regional cooperation links. It is suggested that such measures should be sector-specific and take into account forward and backward cooperative linkages among EAEU countries.

Keywords: EAEU, regional value chains, industrial exports, industrial cooperation, intermediate goods, economic integration.

JEL: F15, F17

EDN: THBCPC

DOI: https://doi.org/10.52180/2073-6487_2025_2_144_166

References

1. Balandina, G. V., Spartak, A. N. Prospects and limitations of Russia’s participation in regional and global value chains // Russian Foreign Economic Journal. 2024. No. 11. 3–16. EDN: ZWBKLP. (In Russ.).
2. Belousov, A.V. Analysis of the Value Added Shift in the Export of Products in the EAEU Countries // Economic Bulletin of the Scientific Research Economic Institute of the Ministry of Economy of the Republic of Belarus. 2023. No. 3. Pp. 13–16. EDN: (In Russ.).
3. Bykov, A. A., Kolb, O.D. Global value chains: evolution, strategies, prospects for Belarus // Modern forms of business organization: international experience and development prospects in Belarus / The Council for the Development of Entrepreneurship in the Republic of Belarus, the Eastern Committee of the German Economy. Minsk: UE «Integralpoligraf», 2017. Pp. 97–123. EDN: YQHTNU. (In Russ.).
4. Vardomskiy, L.B. Spatial Dimension of Eurasian Integration // Regional Studies. 2021. Vol. 74. No. 4. Pp. 18–28. EDN: ETZADR. (In Russ.).
5. Varnavskii, V.G. International Trade in Value Added Terms: Methodological Issues // World Eсonomy and International Relations. 2018. Vol. 62. No. 1. Pp. 5-15. EDN: YMGSON. (In Russ.).
6. Economic integration of Eurasia: strategic prospects for the development of the Russian Geography of the Year [Text]: doc. c. XX Apr. international scientific. Conference on the problem of non-economic development of boilers, Moscow, 9-12 Apr. 2019 / T.V. Bordachev, K. Fright. Vishnevsky, M. K. Glazatov et al.; rel. land rent. T. A. Meshkov; National this is a study. Kostin Higher School of Economics. M.: This is decreasing. Higher Economics Dota school, 2019. 123 p. ISBN 978-5-7598-1978-3 (V. Vol.). ISBN 978-5-7598-2002-4 (In Russ.).
7. Kuznetsov, A.V. EAEU industrial cooperation in a global instability // Problems of theory and practice of management. 2020. No. 11. Pp. 6–23. EDN: PBXXST. (In Russ.).
8. Rozhanskaya, E.A., Prikladov, A.A. Statistical discrepancies in the value of non-primary non-energy exports from Russia to the EAEU // Economic development of Russia. 2022. Vol. 29. No. 8. Pp. 24–30. EDN: BNBCPJ. (In Russ.).
9. Smirnov V., Sutyrin V. The Russian Project of Eurasian Integration: Towards the Symmetric Development Model // World Eсonomy and International Relations. 2024. Vol. 68. No. 12. Pp. 122–134. EDN: BWALFJ. (In Russ.).
10. Urunov A.A., Morozova I.M. Cooperation and subcontracting enterprises as a form of deepening the process of integration within the Eurasian Economic Union. // Upravlenie. 2021. Vol. 9. No. 1. Pp. 49–60. EDN: UARJNZ. (In Russ.).
11. Flegontova, T. A. GVCs: Participation of EAEU countries // Russian Foreign Economic Journal. 2017. No. 1. Pp. 73–84. EDN: XTDOIH. (In Russ.).
12. Kheyfets B.A. Eurasian Economic Union – Time for Modernization // Outlines of global transformations: politics, economics, law. 2019. Vol. 12. No. 2. Pp. 29–50. (In Russ.)
13. Cigna, S. [et al]. Global value chains: measurement, trends and drivers // Occasional Paper Series. European Central Bank. January 2022. No. 289. https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op289~95a0e7d24f.en.pdf
14. Eder, J. Moving towards developmental regionalism? industrial cooperation in the Eurasian Economic Union from an Armenian and Belarusian perspective // Post-Communist Economies. 2020. Vol. 33. No. 3. Pр. 331–358. DOI: 10.1080/14631377.2020.1793590.
15. Global Value Chains Development Report 2023 // WTO Publications. URL: https://www.wto.org/english/res_e/publications_e/gvc_dev_rep23_e.htm
16. Hanzl-Weiss, D., Leitner, S. M., Stehrer, R., Stöllinger, R. Global and Regional Value Chains: How Important, How Different? // WIIW Research Report. 2018. No. 427. The Vienna Institute for International Economic Studies (WIIW), Vienna.
17. Regional Integration and Cooperation in a Changing World // Asian Development Bank. 2013. https://www.adb.org/sites/default/files/publication/30224/regionalcooperation-changing-world.pdf
18. Trade and Development Report // UNCTAD. 2022. https://unctad.org/tdr2022
19. Vasudevan, S., & Babu, M. S. Global production sharing and trade effects: an analysis of Eurasian Economic Union // Eurasian Economic Review. 2021. Vol. 4. No. 11. 633–665. DOI: 10.1007/s40822-021-00179-0.
20. Viner, J., Oslington, P. The Customs Union Issue (Revised ed.). Oxford University Press, 2014.

Manuscript submission date: 25.01.2025

Manuscript acceptance date: 16.04.2025

For citation:

Abramov V.L., Vasilchenko A.D. Regional value chains as a driver of trade integration in the Eurasian Economic Union // Vestnik Instituta Ekonomiki Rossiyskoy Akademii Nauk. 2025. № 2. Pp. 144-166. (In Russ.). https://doi.org/10.52180/2073-6487_2025_2_144_166 EDN: THBCPC

  Creative Commons 4.0