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Assessment of Prospects for Currency Integration Between Armenia and Russia

Author

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  • Mariam A. Voskanyan

    (Russian-Armenian UniversityAuthor-Name: Ani G. Galstyan
    Russian-Armenian University)

Abstract

The paper studies the prospects of currency integration between Armenia and Russia as a viable alternative for promoting integration within Eurasian space. In terms of theory and methodology, the research relies on classical and modern approaches in the field of monetary and currency regulation. The authors apply the methods of comparative and system analysis, deduction and induction, a graphical method, mechanisms of econometric and statistical analysis. Calculations were performed using Tool? Pak Ms Excel 2016 and an econometric package EViews 9.5. The authors assess key criteria for currency integration between Armenia and Russia from standpoint of countries’ cohesion as well as their readi? ness to create a monetary union and other forms of currency integration. The economists conclude that judging by the majority of the examined currency integration criteria, the countries are not ready to cre? ate a monetary union. However, the implementation of a scenario of a single payment system based on settlements in national currencies in foreign trade activities turns out to be quite acceptable

Suggested Citation

  • Mariam A. Voskanyan, 2018. "Assessment of Prospects for Currency Integration Between Armenia and Russia," Journal of New Economy, Ural State University of Economics, vol. 19(5), pages 16-31, October.
    • Handle: RePEc:url:izvest:v:19:y:2018:i:5:p:16-31
    DOI: 10.29141/2073-1019-2018-19-5-2
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    References listed on IDEAS

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    More about this item

    Keywords

    currency integration; currency union; Eurasian economic space; integration between Russia and Armenia;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F15 - International Economics - - Trade - - - Economic Integration
    • F45 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Macroeconomic Issues of Monetary Unions

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