Study of the correlation between the growth rates of interregional trade and GDP of the EAEU member countries

Authors

Keywords:

interregional trade, spillover effects, regression analysis, GDP

Abstract

Integration processes generate so-called "spillover effects", which have an impact on the welfare of the population of the countries involved in integration processes. Russia, as the largest economy of the Eurasian Economic Union (EAEU), acts as the main generator of economic impulses / "shocks" for the other member states of the economic association. The purpose of the study is to verify the existence of a statistically significant relationship between the mutual trade turnover dynamics of the EAEU member states and the economic growth rates of the integrating states using regression analysis. We used regression analysis to validate the hypothesis put forward in this paper (changes in the volume of mutual trade in the EAEU area have an impact on the GDP of the EAEU member countries). The use of regression analysis helped to exclude the Armenian economy from the list of countries where there is a statistically significant relationship between the volume of mutual trade within the EAEU and GDP growth rates (previously, the use of correlation analysis allowed to identify such a relationship for three of the five integration economies). The obtained results indicate that the GDP of the economies under study is generally insignificantly affected by the volume of mutual trade within the EAEU.

References

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Published

2023-12-30

How to Cite

Maksim I. Markin. (2023). Study of the correlation between the growth rates of interregional trade and GDP of the EAEU member countries. JOURNAL OF REGIONAL AND INTERNATIONAL COMPETITIVENESS, 4(4), 21. Retrieved from http://jraic.com/index.php/tor/article/view/145