International Conference on Eurasian Economies
17-18 September 2013 – St. Petersburg, RUSSIA
Paper detail
Paper ID : 633
Status : Paper published
Language : Russian
Topic : Regional Economics
Presenter: Prof. Dr. Omurbek Karatalov
Session : 7D Международная торговля
Open Economy and Economic Integration within the Framework of Eurasia
Открытая экономика и экономическая интеграция в рамках Евразии
- Prof. Dr. Omurbek Karatalov (Kyrgyz-Russian Slavic University, Kyrgyzstan)
Abstract
The Kyrgyz Republic economy openness is studied within the framework of the Eurasia. Insufficient level of the financial and economic standing of Kyrgyzstan is clarified. Reasons for Governmental regulating use in the area of monetary, tax and budget policy in USA have been set up. Conditions of the development of industrial countries economy are under consideration. The necessity of financialisation of all capital of country is defined. Kyrgyzstan public budget’s permanent deficiency formation reasons are studied. A necessity of integration economic relations development within the framework of Eurasia is offered. A necessity of sustainable economic relations establishment as well as finding solution for external debt between Kyrgyzstan and Russia have been justified. It is recommended to strengthen effective fight against a scale corruption, «shadow» economy and criminalization of economy and finances. The increase of efficiency and responsibility of top managers of the public administration level have been offered. The necessity of the independent mastering of own gold-mining fields is justified. The need to attract the foreign direct investments to the area of mining and processing industry have been offered. Within the framework of acceleration of economic integration. Needs for the development of exploring and processing of hydrocarbons as well as building of large economic entities especially the hydroelectric power stations, namely Kambar-Ata-1 Hydro-Power Plants have been suggested. By this it is also suggested to Russia to develop this as strategic partner of Kyrgyzstan. Creation of integral customs system and energy cooperation suggested. It should be supported by establishment of unique equivalent among Eurasia states. By this it is to be possible to find acceptable solutions in finance and economy and to form a united economic cooperation considering a sovereignty of each state. It is necessary to develop the identical financial reporting of point-of-sale and payment balances, balance of international investments, compliable national republics and on the whole on Eurasia. To walk away from the calculation and actual use of dollar of the USA in finance and economic operations. Based on econometric prognosis of gross internal product and the public budget of Kyrgyzstan is made calculating on the per to 2025 year.
JEL codes: O11, F15
Karatalov, Omurbek (2013). "Open Economy and Economic Integration within the Framework of Eurasia" in Proceedings of International Conference of Eurasian Economies 2013, pp.1086-1096, St. Petersburg, RUSSIA.
DOI: https://doi.org/10.36880/C04.00633
Session 7D: Международная торговля
