Prospects for the development of financial capital under conditions of Eurasian Economic integration

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Journal paper

Russian Journal of Entrepreneurship *
Volume 18, Number 5 (March 2017)
* Этот журнал не выпускается в Первом экономическом издательстве

Please, cite as:
Gerus I.M. Perspektivy razvitiya finansovogo kapitala v usloviyakh Evraziyskoy ekonomicheskoy integratsii // Rossiyskoe predprinimatelstvo. – 2017. – Tom 18. – № 5. – S. 807-814. – doi: 10.18334/rp.18.5.37597.

Abstract:
The ongoing processes of globalization in the world economy promote the erosion of national borders, the free movement of goods, services, capital, labor and the conduct of a coordinated and unified policy in the economic sectors. In the present article we consider the prospects of the Kyrgyz Republic for joining the Eurasian Economic Union (EAEU), and the main directions of development of financial capital under these conditions. One of the main directions of cooperation between the states is to ensure the accelerated modernization of their national financial and monetary systems through the implementation of coordinated approaches and measures of participating countries. We examine the importance of the development of industrial cooperation within the Customs Union, because not all member countries of this integration group are able to provide their own manufacturing. From this point of view we see a need to create conditions for a free flow of capital and to coordinate the legal basis for creation of international industrial holding structures for the development of export-oriented production. Integration within the EAEU can have a radical effect on the sectoral structure of Kyrgyzstan and on the possibility of attracting large transnational corporations. For the revival of the production process, it is necessary to identify priority sectors in the national economy of the Kyrgyz Republic, taking into account the development of the industrial export-oriented policy. That will allow the Kyrgyz Republic reaching a new level of economic development, in other words, it will create the possibility of restructuring the economy taking into account new realities and challenges, of transition from a re-export model of the economy to a dynamic development model and of the increase in the standard of living of the population.

Keywords: industrial policy, capital, production, modernization, investment resources, cooperation, entrepreneurial activity, financial system, investment cooperation, reindustrialization, economic integration, monetary system, transnational capital

JEL-classification: R11, F15, F36

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