The Mega-regulator of the EAEU

Abstract

The article examines the results of the authors’ research of socio-economic processes of a political, economic and social nature on the territory of the member states of the Eurasian Economic Union, and assesses the prospect of creating a single supranational institution overseeing the implementation of interstate programs of economic, political and social development. Design/methodology/approach: This area of research has an extremely high degree of relevance in the current political and economic situation, due to the growing tendency to increase international tension, which leads to both the emergence of new and the escalation of existing political, economic and social conflicts. Findings: According to the authors, the consolidation of material and other resources of the EAEU member states into a single supranational institution will allow them to be more effective, mobile and responsive to emerging negative trends in society, as well as methodically implement the developed programs to reduce the impact of global and regional entropic factors of economic growth and social development. This institution should combine supervision or direct organizational support for the implementation of a significant number of economic, political, social and other measures developed jointly by the member states of the Eurasian Economic Union. In order to fulfill this task, it is necessary to develop appropriate legal and organizational and managerial support for the activities of such an institution. The complexity of such a task is compounded by the need to reach consensus on cross-national approaches to implementing this type of program. Originality/value: The development of a unified approach to determining the policy of overcoming negative factors of an interethnic nature and, as a result, developing a single set of criteria for evaluating the effectiveness of the institution under the examination, is the most important problem on the way to the formation of common mega-regulator of the EAEU. In connection with the above, the authors concluded that the set of modern problems faced by the EAEU member states, both of an internal nature and in the international arena, require the creation of a single, supranational, supervision and coordination institution, which can be called a mega-regulator by its functional capabilities.