The System of Indicators of Eurasian Integration

The System of Indicators of Eurasian Integration (SIEI)under the auspices of the Eurasian Development Bank consists of nine general and two consolidated indices that are aimed at assessing integration in the post-Soviet region, and cover various aspects of the regional integration process. The SIEI is built around several sets of indicators, including the integration of trade and labour markets, and co-operation in key functional areas (agriculture, education, and energy); convergence of the main characteristics of the post-Soviet economies; and qualitative performance parameters of the CIS integration groupings developed based on an expert poll. The data given in this first version of the SIEI show the dynamics of integration processes in the decade 1999-2008. The SIEI consists of three sets of indices which correspond to the three main aspects of regional co-operation: (a) analysis of regional integration as the integration of markets. In this case, the integration of countries is assessed from the point of view of mutual flows of commodities, services and production factors; (b) analysis of regional integration as the convergence of economic systems.In this case, the subject of evaluation is the convergence of the countries’ main quantitative development characteristics in four key areas: macroeconomics (growth dynamics), financial policy, fiscal policy, and monetary policy; and (c) analysis of institutional co-operation. In this case, the subject of evaluation is the countries’ performance in formal integration projects within the post-Soviet space, taking into account the broad range of goals of the respective structures.