Evaluation of the Cultural Proximity Factors Impact on the Mutual Trade Efficiency of the Countries within Eurasian Economic Integration

摘要

The purpose of this scientific paper is to assess the national cultures proximity impact on the effectiveness of regional economic integration in the Eurasian Economic Union (EAEU). To assess the cultural proximity (distance) of the countries, the criteria developed by Hofstede were used and the cultural proximity (distance) of each country in the EAEU was calculated using the formulas developed by Kogut and Singh, which made it possible to assess the cultural proximity of the EAEU countries. The article also assesses the impact of cultural proximity (distance) on the effectiveness of mutual trade between the countries of Eurasian integration using the trade gravity model. Calculations showed that the cultural proximity of the countries of integration does not significantly affect the mutual trade of the EAEU countries. However, the commonality of the language used in the country is the only cultural factor, the presence of which in a pair of trading countries increases trade.