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Dynamics of the Transaction Sector in the Countries of the Eurasian Economic Union

In: Emerging Issues in the Global Economy

Author

Listed:
  • Galina Litvintseva

    (Novosibirsk State Technical University)

  • Nadezhda Gakhova

    (Novosibirsk State Technical University)

Abstract

The paper deals with the gross output and GDP dynamics along with the trends in the development of the base (transformation) and transaction sectors of the economy including changes of their industry leaders in the countries of the Eurasian Economic Union (EAEU). Gross value added growth rates in both sectors of the economies of these countries are studied and analyzed. Transaction costs of the economy are measured as a share of the transaction sector gross output in the gross output of the economy using North-Wallis’s method and the approach proposed by the author. The impact of transaction costs on the GDP dynamics in Russia and some EAEU countries is also shown. Some conclusions about the trends in the transaction sector change and its effect on the GDP dynamics are made based on calculations. These trends indicate the heterogeneity of these countries’ economies and their gradual modernization under the influence of market reforms and integration processes.

Suggested Citation

  • Galina Litvintseva & Nadezhda Gakhova, 2018. "Dynamics of the Transaction Sector in the Countries of the Eurasian Economic Union," Springer Proceedings in Business and Economics, in: Silvia Cristina Mărginean & Claudia Ogrean & Ramona Orăștean (ed.), Emerging Issues in the Global Economy, chapter 0, pages 211-220, Springer.
    • Handle: RePEc:spr:prbchp:978-3-319-71876-7_19
    DOI: 10.1007/978-3-319-71876-7_19
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