17/1 Malaya Ordynka Str., Moscow, 119017
School Head — Leonid Grigoryev
Deputy Head — Natalia Supyan
Deputy Head — Olga Klochko
World Economy Section — Petr Mozias
Section of Energy and Raw Material Market — Valery Krukov
International Business Section — Sergey Lavrov
World Trade Section — Alexey Portanskiy
Section of Global Economic Regulation — Vladimir Zuev
World Finance Section — Vladimir Evstigneev
Edited by: J. Kirton, M. V. Larionova.
Makarov I. A., Sokolova A. K.
Review of European and Russian Affairs. 2017. Vol. 11. No. 2.
Larionova M. V., Shelepov A. V.
In bk.: Accountability for Effectiveness in Global Governance. Routledge, 2017. P. 195-215.
Public and Social Policy. WP BRP Series. НИУ ВШЭ, 2017. No. WP BRP 10/PSP/2017.
The processes of Eurasian regional consolidation and the development of the regional economic mechanism and cooperation imply the mainstreaming of the EAEU (Eurasian Economic Union) member state banks in the integration processes. However, strengthening their integration potential as a factor of financial stability will largely depend on consistency and soundness of the regional model of banking regulation within the ‘mini-Basel III’ concept based on the Basel principles of effective banking supervision along with Basel III prudential standards. Heterogeneity of national regulatory regimes, protectionism-centered regulatory policies, and lack of authority to be duly empowered to coordinate the process of regulatory regionalization do inhibit the development of the Eurasian regulatory mechanism. Dr Dzhagityan concludes that alignment of the national banking regulation mechanisms in the framework of Basel III sweeping regulatory overhaul is the only approach to minimization of systemic risks and ensuring financial stability in the EAEU during the observable time horizon. The author also proposes actions and steps that will optimize the alignment of the EAEU national regulatory regimes.