Ярославль, Ярославская область, Россия
Яросавль, Ярославская область, Россия
. 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.
EAEU integration; financial spillover; correlation analysis; RTS, KASE, KSE indexes
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