Principles of the Economic Policy in the Euroasian Economic Union (EEU): Development of Innovative Productions

Dmitry Miropolsky; Grigori Feigin

doi:doi:10.11648/j.ijber.20211003.11

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Principles of the Economic Policy in the Euroasian Economic Union (EEU): Development of Innovative Productions

Dmitry Miropolsky, Grigori Feigin

Published in International Journal of Business and Economics Research (Volume 10, Issue 3)

Received: 18 November 2020 Accepted: 18 December 2020 Published: 8 May 2021

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Abstract

The article discusses prospects of further increase in the EEU integration with reference to the target benchmarks that national economies set when making decisions on joining regional integration blocs like the Eurasian Economic Union. The focus is on the possibility of developing high technology production in EEU countries. A two-sector model and analysis of statistical information are used to assess the prospects for the development of innovative production on the territory of the EEU. It is shown that with the developed monopolized structure and low level of production competitiveness, financing innovation by transforming savings into investments is really difficult. The authors suggest a critical assessment of the current inflation targeting policy of the Central Bank of Russia. Based on the macroeconomic model of the interaction of savings and investments and the generalization of data subject to the level of monopolization of the Russian economy, it is argued that the implementation of the inflation targeting policy does not create real prerequisites for the development of high-tech production in Russia and other EEU member countries. It is stated that the current conditions require a policy of mobilizing resources to be invested in innovative projects. It is concluded that in modern conditions, a significant increase in the financing of innovative products is possible only through state support based on the modernization of the taxation system. It is indicated that in the long term, targeted financing of innovative products should be carried out within the framework of the single economic policy of the EEU. The authors suppose that just creation of prerequisites for innovative development in the EEU can increase real attractiveness of this integration block for potential new members.

Published in	International Journal of Business and Economics Research (Volume 10, Issue 3)
DOI	10.11648/j.ijber.20211003.11
Page(s)	87-93
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2021. Published by Science Publishing Group

Keywords

Integration, Economic Policy, Innovations, Taxation

References

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Dmitry Miropolsky, Grigori Feigin. (2021). Principles of the Economic Policy in the Euroasian Economic Union (EEU): Development of Innovative Productions. International Journal of Business and Economics Research, 10(3), 87-93. https://doi.org/10.11648/j.ijber.20211003.11

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Dmitry Miropolsky; Grigori Feigin. Principles of the Economic Policy in the Euroasian Economic Union (EEU): Development of Innovative Productions. Int. J. Bus. Econ. Res. 2021, 10(3), 87-93. doi: 10.11648/j.ijber.20211003.11

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AMA Style

Dmitry Miropolsky, Grigori Feigin. Principles of the Economic Policy in the Euroasian Economic Union (EEU): Development of Innovative Productions. Int J Bus Econ Res. 2021;10(3):87-93. doi: 10.11648/j.ijber.20211003.11

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@article{10.11648/j.ijber.20211003.11,
  author = {Dmitry Miropolsky and Grigori Feigin},
  title = {Principles of the Economic Policy in the Euroasian Economic Union (EEU): Development of Innovative Productions},
  journal = {International Journal of Business and Economics Research},
  volume = {10},
  number = {3},
  pages = {87-93},
  doi = {10.11648/j.ijber.20211003.11},
  url = {https://doi.org/10.11648/j.ijber.20211003.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20211003.11},
  abstract = {The article discusses prospects of further increase in the EEU integration with reference to the target benchmarks that national economies set when making decisions on joining regional integration blocs like the Eurasian Economic Union. The focus is on the possibility of developing high technology production in EEU countries. A two-sector model and analysis of statistical information are used to assess the prospects for the development of innovative production on the territory of the EEU. It is shown that with the developed monopolized structure and low level of production competitiveness, financing innovation by transforming savings into investments is really difficult. The authors suggest a critical assessment of the current inflation targeting policy of the Central Bank of Russia. Based on the macroeconomic model of the interaction of savings and investments and the generalization of data subject to the level of monopolization of the Russian economy, it is argued that the implementation of the inflation targeting policy does not create real prerequisites for the development of high-tech production in Russia and other EEU member countries. It is stated that the current conditions require a policy of mobilizing resources to be invested in innovative projects. It is concluded that in modern conditions, a significant increase in the financing of innovative products is possible only through state support based on the modernization of the taxation system. It is indicated that in the long term, targeted financing of innovative products should be carried out within the framework of the single economic policy of the EEU. The authors suppose that just creation of prerequisites for innovative development in the EEU can increase real attractiveness of this integration block for potential new members.},
 year = {2021}
}

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TY  - JOUR
T1  - Principles of the Economic Policy in the Euroasian Economic Union (EEU): Development of Innovative Productions
AU  - Dmitry Miropolsky
AU  - Grigori Feigin
Y1  - 2021/05/08
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N1  - https://doi.org/10.11648/j.ijber.20211003.11
DO  - 10.11648/j.ijber.20211003.11
T2  - International Journal of Business and Economics Research
JF  - International Journal of Business and Economics Research
JO  - International Journal of Business and Economics Research
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EP  - 93
PB  - Science Publishing Group
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AB  - The article discusses prospects of further increase in the EEU integration with reference to the target benchmarks that national economies set when making decisions on joining regional integration blocs like the Eurasian Economic Union. The focus is on the possibility of developing high technology production in EEU countries. A two-sector model and analysis of statistical information are used to assess the prospects for the development of innovative production on the territory of the EEU. It is shown that with the developed monopolized structure and low level of production competitiveness, financing innovation by transforming savings into investments is really difficult. The authors suggest a critical assessment of the current inflation targeting policy of the Central Bank of Russia. Based on the macroeconomic model of the interaction of savings and investments and the generalization of data subject to the level of monopolization of the Russian economy, it is argued that the implementation of the inflation targeting policy does not create real prerequisites for the development of high-tech production in Russia and other EEU member countries. It is stated that the current conditions require a policy of mobilizing resources to be invested in innovative projects. It is concluded that in modern conditions, a significant increase in the financing of innovative products is possible only through state support based on the modernization of the taxation system. It is indicated that in the long term, targeted financing of innovative products should be carried out within the framework of the single economic policy of the EEU. The authors suppose that just creation of prerequisites for innovative development in the EEU can increase real attractiveness of this integration block for potential new members.
VL  - 10
IS  - 3
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Author Information

Dmitry Miropolsky

Department of General Economic Theory and History of Economic Thought, State Economic University, St. Petersburg, Russia
Grigori Feigin

Department of General Economic Theory and History of Economic Thought, State Economic University, St. Petersburg, Russia

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APA Style

Dmitry Miropolsky, Grigori Feigin. (2021). Principles of the Economic Policy in the Euroasian Economic Union (EEU): Development of Innovative Productions. International Journal of Business and Economics Research, 10(3), 87-93. https://doi.org/10.11648/j.ijber.20211003.11

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ACS Style

Dmitry Miropolsky; Grigori Feigin. Principles of the Economic Policy in the Euroasian Economic Union (EEU): Development of Innovative Productions. Int. J. Bus. Econ. Res. 2021, 10(3), 87-93. doi: 10.11648/j.ijber.20211003.11

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AMA Style

Dmitry Miropolsky, Grigori Feigin. Principles of the Economic Policy in the Euroasian Economic Union (EEU): Development of Innovative Productions. Int J Bus Econ Res. 2021;10(3):87-93. doi: 10.11648/j.ijber.20211003.11

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@article{10.11648/j.ijber.20211003.11,
  author = {Dmitry Miropolsky and Grigori Feigin},
  title = {Principles of the Economic Policy in the Euroasian Economic Union (EEU): Development of Innovative Productions},
  journal = {International Journal of Business and Economics Research},
  volume = {10},
  number = {3},
  pages = {87-93},
  doi = {10.11648/j.ijber.20211003.11},
  url = {https://doi.org/10.11648/j.ijber.20211003.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20211003.11},
  abstract = {The article discusses prospects of further increase in the EEU integration with reference to the target benchmarks that national economies set when making decisions on joining regional integration blocs like the Eurasian Economic Union. The focus is on the possibility of developing high technology production in EEU countries. A two-sector model and analysis of statistical information are used to assess the prospects for the development of innovative production on the territory of the EEU. It is shown that with the developed monopolized structure and low level of production competitiveness, financing innovation by transforming savings into investments is really difficult. The authors suggest a critical assessment of the current inflation targeting policy of the Central Bank of Russia. Based on the macroeconomic model of the interaction of savings and investments and the generalization of data subject to the level of monopolization of the Russian economy, it is argued that the implementation of the inflation targeting policy does not create real prerequisites for the development of high-tech production in Russia and other EEU member countries. It is stated that the current conditions require a policy of mobilizing resources to be invested in innovative projects. It is concluded that in modern conditions, a significant increase in the financing of innovative products is possible only through state support based on the modernization of the taxation system. It is indicated that in the long term, targeted financing of innovative products should be carried out within the framework of the single economic policy of the EEU. The authors suppose that just creation of prerequisites for innovative development in the EEU can increase real attractiveness of this integration block for potential new members.},
 year = {2021}
}

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TY  - JOUR
T1  - Principles of the Economic Policy in the Euroasian Economic Union (EEU): Development of Innovative Productions
AU  - Dmitry Miropolsky
AU  - Grigori Feigin
Y1  - 2021/05/08
PY  - 2021
N1  - https://doi.org/10.11648/j.ijber.20211003.11
DO  - 10.11648/j.ijber.20211003.11
T2  - International Journal of Business and Economics Research
JF  - International Journal of Business and Economics Research
JO  - International Journal of Business and Economics Research
SP  - 87
EP  - 93
PB  - Science Publishing Group
SN  - 2328-756X
UR  - https://doi.org/10.11648/j.ijber.20211003.11
AB  - The article discusses prospects of further increase in the EEU integration with reference to the target benchmarks that national economies set when making decisions on joining regional integration blocs like the Eurasian Economic Union. The focus is on the possibility of developing high technology production in EEU countries. A two-sector model and analysis of statistical information are used to assess the prospects for the development of innovative production on the territory of the EEU. It is shown that with the developed monopolized structure and low level of production competitiveness, financing innovation by transforming savings into investments is really difficult. The authors suggest a critical assessment of the current inflation targeting policy of the Central Bank of Russia. Based on the macroeconomic model of the interaction of savings and investments and the generalization of data subject to the level of monopolization of the Russian economy, it is argued that the implementation of the inflation targeting policy does not create real prerequisites for the development of high-tech production in Russia and other EEU member countries. It is stated that the current conditions require a policy of mobilizing resources to be invested in innovative projects. It is concluded that in modern conditions, a significant increase in the financing of innovative products is possible only through state support based on the modernization of the taxation system. It is indicated that in the long term, targeted financing of innovative products should be carried out within the framework of the single economic policy of the EEU. The authors suppose that just creation of prerequisites for innovative development in the EEU can increase real attractiveness of this integration block for potential new members.
VL  - 10
IS  - 3
ER  -

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