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Problems Associated with Creation of a Single Currency Zone in the CIS Countries

Author

Listed:
  • Sergey Drobyshevsky

    (Gaidar Institute for Economic Policy)

  • Dmitri Polevoy

    (Gaidar Institute for Economic Policy)

Abstract

The paper presents an attempt to provide a theoretical justification of the problem of currency integration with respect to the CIS countries. The paper also provides a theoretical analysis of fundamental provisions of the theory applied to the problem of creation of a single currency zone within the CIS countries' territory. The authors identify theoretical criteria of OCA that determine the most significant costs and benefits from the currency integration within the noted territory. As well, the authors have analyzed macroeconomic data for a quantitative assessment of the selected criteria and computing indicators for the regression analysis. The authors conduct an analysis of whether single CIS countries match the existing criteria of an optimal currency zone with Russia's participation in it. The concluding section presents outcomes and recommendations regarding attractiveness of currency integration to Russia and single CIS countries.

Suggested Citation

  • Sergey Drobyshevsky & Dmitri Polevoy, 2004. "Problems Associated with Creation of a Single Currency Zone in the CIS Countries," Research Paper Series, Gaidar Institute for Economic Policy, issue 80P, pages 110-110.
  • Handle: RePEc:gai:rpaper:119
    as

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    File URL: http://www.iep.ru/files/RePEc/gai/rpaper/119Drobyshevsky.pdf
    File Function: Revised version, 2013
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    References listed on IDEAS

    as
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    Cited by:

    1. repec:eee:rujoec:v:3:y:2017:i:3:p:280-295 is not listed on IDEAS
    2. Knobel, A. & Mironov, A., 2015. "Assessment of CIS Countries Readiness for Creation of Currency Union," Journal of the New Economic Association, New Economic Association, vol. 25(1), pages 76-101.

    More about this item

    Keywords

    Single Currency Zone; CIS Countries;

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission

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