JOURNAL OF REGIONAL AND INTERNATIONAL COMPETITIVENESS JOURNAL OF REGIONAL AND INTERNATIONAL COMPETITIVENESS Журнал региональной и международной конкурентоспособности 2782-1927 91847 10.52957/2782-1927-2024-5-4-25-32 GLOBAL COMPETITIVENESS GLOBAL COMPETITIVENESS GLOBAL COMPETITIVENESS Case of the financial market connectivity in the EAEU Исследование связанности финансовых рынков: случай ЕАЭС https://orcid.org/0000-0002-5253-4851 Майорова Марина Аркадьевна Mayorova Marina Arkad'evna mayorovama@ystu.ru

кандидат экономических наук;

candidate of economic sciences;

 Герасимов Денис Владимирович Gerasimov Denis V

аспирант технических наук;

graduate student of technical sciences;

 Ярославский государственный технический университет Ярославль Россия Yaroslavl State Technical University Yaroslavl Russian Federation Ярославский государственный технический университет RU Yaroslavl State Technical University RU 24 02 2025 24 02 2025 5 4 25 32 11 12 2024 https://chemintech.ru/en/nauka/article/91847/view

Создание интеграционного объединения влечет за собой не только интенсификацию товарооборота между странами и устранение торговых барьеров, но и более тесную связь, в частности, между финансовыми рынками. В связи с этим интересным исследовательским вопросом является то, как интеграционные процессы в ЕАЭС влияют на связность финансовых рынков и возникает ли в рамках данного интеграционного объединения эффект финансового спилловера. Данное исследование проливает свет на взаимосвязанность финансовых рынков в ЕАЭС в долгосрочном интервале времени. С помощью корреляционного анализа проверяется гипотеза о том, что создание ЕАЭС способствовало более тесной интеграции финансовых рынков стран-участниц. Результаты исследования выявили статистически значимую связь между индексами KASE и KSE, а также между индексами KASE и РТС, но не выявили значимой корреляции между индексами KSE и РТС. Эти результаты подчеркивают различную степень финансовой взаимосвязи между странами ЕАЭС и дают представление о том, как интеграционная политика может повысить общую синхронизацию рынков.

. The creation of an integration association entails not only the intensification of trade turnover between countries and the elimination of trade barriers but also a closer connection, particularly among financial markets. In this context, an interesting research question is how integration processes in the EAEU affect the connectivity of financial markets and whether a financial spillover effect arises within the framework of this integration association. This research sheds light on the connectivity of financial markets in the EAEU area over the long term. Using correlation analysis, the paper tests the hypothesis that the creation of the EAEU has fostered closer integration among the financial markets of its member states. The results reveal a statistically significant relationship between the KASE and KSE indexes, as well as between the KASE and RTS indexes, but no significant correlation between the KSE and RTS indexes. These findings highlight the varying degrees of financial connectivity among EAEU countries, providing insights into how integration policies could enhance overall market synchronization.

 интеграция в ЕАЭС; финансовый спилловер; корреляционный анализ; индексы РТС KASE KSE EAEU integration; financial spillover; correlation analysis; RTS KASE KSE indexes Исследование выполнено за счет гранта Российского научного фонда (проект 23-28-01774, https://rscf.ru/project/23-28-01774 /) The authors are grateful for the financial support of grant from the Russian Science Foundation No. 23-28-01774, https://rscf.ru/project/23-28-01774 /

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