Regional Economic Integrations in the Post-soviet Eurasia: An Analysis on Causes of Inefficiency

AbstractIn post-Soviet Eurasia, established several regional economic integrations in order to develop the regional economic cooperation and adapt to the world economy. These integrations, participated by the countries also referred to as the Commonwealth of Independent States (CIS), have remained on paper as ineffective formations that are far away from achieving their common goals. The findings obtained through the statistical data of the countries included in the region concerning the causes of inefficiency can be listed as inadequacy in converging with the rules of market economy and in adapting to the world economy, differences in macroeconomic structures (national income and income distribution, industrialization, national and foreign direct investments, foreign trade capacity and balance of payments), regional conflicts of interest and claim of power, lack of common goals, geographical position, and the contradictions created by being member to the World Trade Organization (WTO) and to regional integrations