ABSTRACT
The purpose of this paper is to assess prospects for economic growth in the Commonwealth of Independent States (CIS) through closer integration into the global economy. The paper first briefly sizes the CIS economies. Subsequently, it assesses the extent of integration of the CIS countries into the global economy and how economic integration has developed over the course of the transition. The paper then analyzes the sources of growth in the CIS since the August 1998 financial crisis in Russia and the role international economic integration has played in stimulating this growth. The paper concludes with an evaluation of the prospects for economic growth in the region over the next several years and the role further integration of the CIS into the global economy will play in this process. Although the paper discusses Russia, it focuses heavily on the other CIS member states. The discussion of Russia is often in terms of Russia’s economic importance to the other CIS members, rather than the economic performance of Russia itself.
