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

Conference paper
Part of the Springer Proceedings in Business and Economics book series (SPBE)

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 

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Copyright information

© Springer International Publishing AG 2018

Authors and Affiliations

  1. 1.Novosibirsk State Technical UniversityNovosibirskRussia

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