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Regional Integration and Economic Convergence in the Post‐Soviet Space: Experience of the Decade of Growth

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  • ALEXANDER LIBMAN
  • EVGENY VINOKUROV

Abstract

This paper examines the dynamics of regional integration and economic convergence in the post-Soviet world during the period 1999-2008. This is the period, when FSU countries experienced rapid economic growth, following the “Big Bang” of the disintegration of the Former Soviet Union (FSU) and the deep economic recession of the 1990s. It starts by discussing a set of indicators reflecting various aspects of interaction of post-Soviet countries (trade, labor migration, integration in key functional markets and economic convergence in different areas) and examines the dynamics of these indicators for the whole region and sub-groups of countries, as well as potential causes and conclusions to be drawn. In addition, it looks at the clusters of regional integration and economic convergence using the hierarchical cluster analysis and attempts to identify the reasons for their formation. We find that during the period studied the trade integration experienced a negative trend, but at the same time we observe an unprecedented expansion of labor migration – thus suggesting that integration of factor flows can outperform integration of markets for goods and services. Finally, clustering processes of the post-Soviet states for the economic convergence and for the economic integration seems to be unaffected by each other.
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  • Alexander Libman & Evgeny Vinokurov, 2012. "Regional Integration and Economic Convergence in the Post‐Soviet Space: Experience of the Decade of Growth," Journal of Common Market Studies, Wiley Blackwell, vol. 50(1), pages 112-128, January.
    • Handle: RePEc:bla:jcmkts:v:50:y:2012:i:1:p:112-128
    DOI: j.1468-5965.2011.02209.x
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    References listed on IDEAS

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    1. Alexander Libman, 2007. "Moldova: Structural Change, Trade Specialization and International Integration," wiiw Research Reports 344, The Vienna Institute for International Economic Studies, wiiw.
    2. Polyakov, Evgeny, 2001. "Changing trade patterns after conflict resolution in the South Caucasus," Policy Research Working Paper Series 2593, The World Bank.
    3. Libman, Alexander, 2009. "Russian federalism and post-Soviet integration: Divergence of development paths," MPRA Paper 12944, University Library of Munich, Germany.
    4. Djankov, Simeon & Freund, Caroline, 2002. "Trade Flows in the Former Soviet Union, 1987 to 1996," Journal of Comparative Economics, Elsevier, vol. 30(1), pages 76-90, March.
    5. Jensen, Henrik, 1994. "Sustaining policy cooperation between economies of different size," Journal of International Economics, Elsevier, vol. 36(3-4), pages 289-307, May.
    6. Vinokurov, Evgeny, 2009. "The CIS Common Electric Power Market," MPRA Paper 20910, University Library of Munich, Germany.
    7. William Byrd & Martin Raiser, 2006. "Economic Cooperation in the Wider Central Asia Region," World Bank Publications - Books, The World Bank Group, number 6969.
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    Citations

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    Cited by:

    1. Alexander M. Danzer & Barbara Dietz, 2014. "Labour Migration from Eastern Europe and the EU's Quest for Talents," Journal of Common Market Studies, Wiley Blackwell, vol. 52(2), pages 183-199, March.
    2. Vinokurov, Evgeny, 2010. "The System of Indicators of Eurasian Integration," MPRA Paper 22227, University Library of Munich, Germany.
    3. Igbal A. Guliyev & Elnur T. Mekhdiev, 2017. "The Role of Fuel and Energy Sector in the Eurasian Economic Community Integration Process," International Journal of Energy Economics and Policy, Econjournals, vol. 7(2), pages 72-75.
    4. Libman, Alexander & Vinokurov, Evgeny, 2012. "Holding-Together Regionalism: 20 Years of Post-Soviet Integration," MPRA Paper 61646, University Library of Munich, Germany.
    5. Vinokurov, Evgeny, 2012. "EDB Eurasian Integration Yearbook 2012," MPRA Paper 49179, University Library of Munich, Germany.
    6. Ulyukaev, Sergey (Улюкаев, Сергей) & Sheryay, K. I. (Шеряй, К. И.), 2014. "Conceptual Bases of Effective Use of the Integration Potential of the CIS [Концептуальные Основы Эффективного Использования Интеграционного Потенциала Стран-Членов Снг]," Published Papers om20, Russian Presidential Academy of National Economy and Public Administration.
    7. Vinokurov, Evgeny & Libman, Alexander, 2012. "Eurasia and Eurasian Integration: Beyond the Post-Soviet Borders," MPRA Paper 49182, University Library of Munich, Germany.
    8. Vinokurov, Evgeny & Libman, Alexander & Pereboyev, Vladimir, 2015. "The EDB System of Indicators of Eurasian Integration: Eurasian Integration’s Trends from 1999 to 2012," MPRA Paper 61909, University Library of Munich, Germany.
    9. Ehigiamusoe, Kizito Uyi & Lean, Hooi Hooi, 2019. "Do economic and financial integration stimulate economic growth? A critical survey," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 13, pages 1-27.
    10. Libman Alexander, 2023. "The Rise and Fall of the Eurasian Regionalism," The Economists' Voice, De Gruyter, vol. 20(2), pages 267-274, December.
    11. Celbis, Mehmet Guney & Wong, Pui-hang & Guznajeva, Tatjana, 2018. "The Eurasian customs union and the economic geography of Belarus: A panel convergence approach," MERIT Working Papers 2018-029, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    12. Benešová, Irena & Novotná, Zuzana & Šánová, Petra & Laputková, A., 2016. "Economic Comparison of Agricultural Sector of Eurasian Countries – Is There Any Potential for Development Through Economic Cooperation?," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 8(2), pages 1-13, June.

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    More about this item

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • P27 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Performance and Prospects

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