Authors: Nikolay P. Gusakov; Inna V. Andronova; Marina V. Ganeeva; Nataliya V. Dyuzheva
Addresses: Department of International Economic Relations, RUDN University, Moscow, Russian Federation ' Department of International Economic Relations, RUDN University, Moscow, Russian Federation ' Department of Finance, Eurasian Economic Commission, Moscow, Russian Federation ' Department of International Economic Relations, RUDN University, Moscow, Russian Federation
Abstract: The common industrial policy of the EAEU is currently reduced to declarative coordination of actions of the member States, implemented through a limited set of mechanisms, mainly aimed at enhancing innovative cooperation through the development of technological platforms and at creating of a united system for finding business partners and organising orders in the industry, and, obviously, is not comprehensive. Meanwhile, the priority for the integration process in the EAEU is the formation of large Eurasian transnational corporations that can be competitive in the world market, the development of Eurasian value chains, the strengthening of industrial cooperation within the EAEU. The article substantiates the need, defines the goals and sets the directions of development and implementation of the common industrial policy of the EAEU. The authors developed proposals for the formation of the program-oriented budget of the EAEU for financing projects of industrial cooperation: the principles of the budget, the sources of budgetary recharge, corrective mechanisms, internal and external control over the collection and expenditure of budgetary funds. Institutional changes in the executive authorities of the EAEU, in particular, the establishment of the Agency for industry and the Commission for independent financial audit, are proposed.
Keywords: economic integration; Eurasian integration; Eurasian Economic Union; EAEU; industry; industrial cooperation; common industrial policy; transnational corporations; TNCs; budget; consolidated budget; institutions.
International Journal of Economic Policy in Emerging Economies, 2019 Vol.12 No.4, pp.318 - 336
Received: 26 Oct 2018
Accepted: 01 Jul 2019
Published online: 22 Jan 2020 *