2025/04/22 by Gohar Sedrakyan · 1 voice
Economics, Econometrics and Finance · #Economic Sanctions and International Relations #Global Financial Crisis and Policies #Global trade and economics
paper · doi:10.1093/oxfordhb/9780197621509.013.37
openalex publication_date 2025/04/22 · openalex created_date 2025/10/10 · openalex updated_date 2026/05/21
Abstract In the 1990s, while the world economies continued to integrate, the Soviet Union faced severe economic challenges that resulted in its dissolution. The fall of the Soviet Union brought considerable new challenges and opportunities in the international trade relations of its member countries and partners in the Council for Mutual Economic Assistance (CMEA). This chapter covers the long-term transformation in trade relations of the newly emerged countries of the Former Soviet Union and the transitioning countries of the CMEA, including the countries of Central and Eastern Europe, Cuba, Mongolia, and Vietnam, during the period from 1989 to 2020. It studies the evolution of trade relations and trade flows in the thirty-one countries that emerged after the fall of the Soviet Union and the transitions in the CMEA countries. It begins by describing trade relationships at the end of the Soviet era and continues by looking into countries’ propensity for integration and the pretransition pricing strategies for traded goods. It describes how two shocks, the 2014 sanctions related to the Russia-Ukraine crisis and the Covid-19 pandemic, affected the new trade relations of these countries. Finally, it describes the changes in trade flows over time. The analysis concludes that most of these countries liberalized their trade policies and became active participants in the world economy in the post-Soviet era.