At present, there is little research providing empirical analysis of the effects of integration
in Central Asia. Studies of financial integration in the Central Asia region are also
limited. Previous studies examine this topic from different perspectives (see Akimov and Dollery 2008; Djalilov and Piesse 2011; Doytch and Eren 2012; Dreger and Fidrmuc
2011; Pastor and Damjanovic 2003). This paper differs from previous studies in that it
employs a quantitative measure of the effect of integration on the exports of Central Asian
countries. There are two findings: First, the integration agreements promote the exports
of Central Asian countries; second, EurAsEC, which has been regarded as the most successful
integration organization in this region, fails to promote its member states’ exports.
These seemingly contradictory findings indicate that the question of how and with whom
to develop integration still needs further research for Central Asian countries.