Paradigm of the Common Economic Space Formation in the Context of Globalization

Abstract

Objective: Economic integration is one of the defining trends of the global economy due to the growing process of internationalization of economic activities. The purpose of this research is to identify the key parameters of the process of economic integration in the post Soviet space in the context of globalization. Methods: Any cross-national integration association suggests a development of the mechanism to manage the processes that go beyond the nation-state. Within the framework of economic integration the management mechanisms of the process of globalization which contribute to building of the effective relationships between the two countries to strengthen their competitive position in the global arena are being formed. The countries’ integration associations serve as "building blocks" of the emerging system of global governance the world economy. Results and conclusions: The processes of integration in the post-Soviet space have features that are revealed in the asymmetric nature of the interaction of the countries participating in the association where Russia is a dominant center as well as actual reintegration nature of the association of the post-Soviet space, which is a unique example of developing of the integration interaction in the global economy. In this context, It is necessary to define the institutions to regulate the economic systems as well as to understand which level of development such institutions should reach to make post-Soviet countries’ integration acquire an in-depth nature and to become an economic phenomenon.

DOI: 10.5901/mjss.2015.v6n3s6p155