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Assessment of CIS Countries Readiness for Creation of Currency Union

Author

Listed:
  • Knobel, A.

    (Center of International Trade, Russian Presidential Academy of National Economy and Public Administration, Moscow, Russia
    International Trade Department, Gaidar Institute for Economic Policy, Moscow, Russia)

  • Mironov, A.

    (Institute of Applied Economic Research, Russian Presidential Academy of National Economy and Public Administration, Moscow, Russia)

Abstract

The authors analyze the CIS countries' potential readiness to establish a currency union. Based on Optimum Currency Area (OCA) criteria that determine the countries' readiness to form a currency union and some particular benefits and costs of a currency union several macroeconomic indicators are determined area. The authors analyze the period following the final transformation of CIS countries' economies from centrally planned to the market ones - from 1999 to 2011. The paper also tests the stability of the results obtained to check the adequacy of obtained estimates and for ranging countries by their matching OCA criteria.

Suggested Citation

  • 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.
    • Handle: RePEc:nea:journl:y:2015:i:25:p:76-101
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    Cited by:

    1. Andrey Polbin & Mikhail Andreyev & Andrey Zubarev, 2018. "How Commodity Prices Influence the Members of the Eurasian Economic Union," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(2), pages 623-637.
    2. Vinokurov, Evgeny & Demidenko, Mikhail & Korshunov, Dmitry & Kovacs, Mihaly, 2017. "Customs unions, currency crises, and monetary policy coordination: The case of the Eurasian Economic Union," Russian Journal of Economics, Elsevier, vol. 3(3), pages 280-295.
    3. Knobel, Alexander, 2016. "The influence of services trade liberalization on service flows and industry productivity in CIS countries and Russia," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 44, pages 75-99.

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    More about this item

    Keywords

    monetary union; optimal currency area; integration; exchange rate;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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