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Unlike political and economic transitions, the social transition of Eurasian countries exhibits a certain degree of passivity. Eurasian countries prioritize solving political and economic issues, with strict control over social aspects leading to a relatively delayed modernization of the social sector. The market-oriented economic transitions have resulted in a disparity in wealth among the populace, and political transformation has generated various conflicts and social divisions, which pose significant challenges to the simultaneously initiated social transformation. Currently, some Eurasian countries are still undergoing systemic reforms aimed at modernization, implemented as a long-term national strategy. The progress and prospects of these reforms depend on the interplay of multiple factors, and their future trajectory warrants continuous attention. The modernization of Eurasian countries is destined to follow a development path different from that of other countries, determined by their unique cultural traditions, social structures, and specific national conditions. Meanwhile, the social changes over more than 30 years of independence have profoundly altered the cultural and social characteristics of Eurasian countries. While preserving traditions, they need to incorporate valuable experiences from the modernization of other countries and seek development paths best suited to their own contexts. [ABSTRACT FROM AUTHOR]

The recent changes in world politics and economy, along with the breakup of the Iron Curtain, directly influenced the foreign trade structure of the Eurasian countries. The foreign trade relations, controlled by the central planning during the Union of Soviet Socialist Republics (USSR) era, began to be formed according to free-market conditions. In this paper, empirical gravity models, covering data of 86 countries for the 1994–2018 period, are used to determine factors affecting the international integration process of the Eurasian countries. For these purposes, we estimated the classical and augmented gravity models to scrutinize the effects of border, infrastructure, trade policies, and institutions, along with the main factors. Based on the estimation results, we concluded that the Eurasian countries during the analysis period were 35% less integrated with the world trade system than the predicted potential level. [ABSTRACT FROM AUTHOR]

The purpose of this article is to analyze the experience of pension insurance systems in Europe, Asia, North and South America, Australia. The defining feature is that the existing pension insurance system in Ukraine does not perform its main task properly, since the rate of pension, for the most part, does not make it possible to maintain a decent standard of living for current pensioners. After analyzing the implementation of the pension reform in Ukraine, it should be emphasized that during the twelve-year period after the pension reform in the country there remain a number of unresolved issues regarding the pension provision of citizens, namely: aging of the population, which is one of the main factors that prompt the government to a new stage of reforming the pension system; the presence of arrears on contributions to compulsory state pension insurance; lack of proper differentiation of pension payments; shadow wages; lack of sound financial instruments for investing pension assets; unsatisfactory level of legal and financial awareness of the population in matters of pension provision; lack of interest of employers in financing non-state pension programs for employees, lack of confidence in the pension system of non-state pension funds. Methods. In most countries of the world, the problems of the pension system, same to what we have in our country, arose. But due to pension reform, they achieved successful results. Each country chose its own way of building a pension system based on its own demographic and socioeconomic features. However, despite this, the main task of any pension system is to secure from poverty and provide a pension that could guarantee a decent standard of living for a pensioner. Results. Ukraine is trying to build the pension insurance system, drawing on the best practice of the countries studied. Practical implications. It is found that the most effective and successful model of the pension system is considered to be Chilean, since the country has been using cumulative and voluntary pension systems for a long time, which are priority and allow to resolve the pension of their citizens financially, prudent and efficient investing of pension funds with lower rates of public investment income. The same model was taken as the basis in Peru, Argentina, Colombia and Kazakhstan. Value/originality. Analyzing the pension reforms implemented in Eastern Europe, it should be noted that part of the changes was due to the need to protect pensioners from poverty in the context of a sharp decrease in the rate of pensions because of the reduction of total pension contributions and the inability of the state to finance previous pension obligations. The real way to reduce the financial burden on employers and the state in the context of a solidarity pension system was to develop levels II and III of the pension system. It is noteworthy to study the foreign experience of the Eastern European country, such as Poland, which was one of the first to introduce a compulsory funded pension system.

The relevance of the research is determined by trends in the formation of new energy flow routes from the Caspianregion and Central Asia to Europe and South Asia. The methods of research included the functional analysis, the correlation method, the induction and deduction methods, the critical reasoning and the problem-oriented approach. The paper assesses the prospective global oil price band for the medium-term period of two years. The leading role of the CIS oil and gas complex in providing the global markets with energy resources is highlighted.The balance of energy resources of the CIS countries is considered. A multiplicative approach to the development of energy resources in the Caspian region is proposed. The method for calculating the distribution of shares in the Caspian Sea energy resources development project among its members, with account for the Caspian Seawatershed coefficient is developed.It is proposed to establish an electrical energy alliance including countries of the Caspian region and Central Asia.

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Some Eurasian countries play major roles in the world energy market as producers of oil and natural gas as well as being energy distribution centers. However, energy intensities of these countries are also very high compared to other transition countries in the world. This study aims at analyzing the relationship between energy consumption and economic growth in Eurasian Countries for 1992-2010 period. Empirical results reveal that energy consumption and economic growth are cointegrated for these countries. Furthermore, there is positive bidirectional causality between energy consumption and economic growth in the long run which supports the feedback hypothesis. Hence, policymakers in the Eurasia region should consider improving the energy infrastructure and increasing the energy supply to achieve higher economic growth when designing energy policies, whereas energy conservation policies should not be implemented for these countries since it may negative effect on economic growth. [ABSTRACT FROM AUTHOR]