Dynamics of the Transaction Sector in the Countries of the Eurasian Economic Union

Galina Litvintseva () and Nadezhda Gakhova
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Galina Litvintseva: Novosibirsk State Technical University
Nadezhda Gakhova: Novosibirsk State Technical University

Chapter Chapter 19 in Emerging Issues in the Global Economy, 2018, pp 211-220 from Springer

Abstract: Abstract The paper deals with the gross output and GDP dynamics along with the trends in the development of the base (transformation) and transaction sectors of the economy including changes of their industry leaders in the countries of the Eurasian Economic Union (EAEU). Gross value added growth rates in both sectors of the economies of these countries are studied and analyzed. Transaction costs of the economy are measured as a share of the transaction sector gross output in the gross output of the economy using North-Wallis’s method and the approach proposed by the author. The impact of transaction costs on the GDP dynamics in Russia and some EAEU countries is also shown. Some conclusions about the trends in the transaction sector change and its effect on the GDP dynamics are made based on calculations. These trends indicate the heterogeneity of these countries’ economies and their gradual modernization under the influence of market reforms and integration processes.

Keywords: Gross output; GDP; Productivity of economy; Transaction sector; Members of the Eurasian Economic Union (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-71876-7_19

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DOI: 10.1007/978-3-319-71876-7_19

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