On the Efficiency of the Hypothetical Collective Currency for the BRICS Countries

 
PIIS013128120006100-1-1
DOI10.31857/S013128120006100-1
Publication type Article
Status Published
Authors
Affiliation: Institute of World Economy and International Finance, Financial University under the Government of the Russian Federation
Address: Russian Federation
Journal nameProblemy Dalnego Vostoka
EditionIssue 4
Pages93-103
Abstract

The relevance of the article is manifested by the fact that in modern conditions of instability in the world currency market inclusive (collective) approaches are needed to minimize the impact of exchange rate fluctuations on export-import operations of the BRICS countries. The purpose of the article is to justify the possibility of transition of the BRICS countries to a common (collective) unit of account. The subject of the article is the methods and techniques to identify the economic effect associated with the adoption of a new collective currency. The article presents the effective data that can be used to assess this effect.

KeywordsBRICs countries, inclusive (collective) development, collective currency, common economic policy of BRICS countries, efficiency of transition to a new collective currency in mutual settlements
AcknowledgmentThe article was prepared based on the results of studies carried out at the expense of budget funds on a state assignment to the Financial University as part of a fundamental research work on the topic “Competition of currencies in the world monetary system”.
Received23.09.2019
Publication date23.09.2019
Number of characters36241
Cite  
100 rub.
When subscribing to an article or issue, the user can download PDF, evaluate the publication or contact the author. Need to register.

Number of purchasers: 2, views: 1192

Readers community rating: votes 0

1. . Avdokushin E.F., Ivanova V.N. Inclusive development: main directions, basic prerequisites and possible limitations // Questions of the new economy. 2014. No. 3 (31). S. 4–13.

2. . Del Duca L.F. Developing Global Transnational Harmonization Procedures for the Twenty-First Century: The Accelerating Pace of Common and Civil Law Convergence // Texas International Law Journal. 2007. Vol. 3. No. 42. P. 625–660.

3. . Kheifets B.A. Prospects for the institutionalization of the BRICS // Economic Issues. 2015. No. 8. P. 25–42.

4. . Davydov V.M. BRICS Achievements and tasks of a new stage // Bulletin of the Financial University. 2015. No. 5. P. 13–18.

5. . Cohen B.J. The Benefits and Costs of an International Currency: Getting the Calculus Right // Open Economies Review. 2012. Vol. 1. No. 23. P. 16? 17.

6. . Robleh D.A., Haldane A.G., Nahai-Williamson P. Towards a Common Financial Language // Bank of England Speeches. 2012. No. 552. P. 5.

7. . Goldberg L.S., Cedric T. Vehicle Currency Use in International Trade // Journal of International Economics. 2008. Vol. 76. No. 2. P. 177–192.

8. . Krasavina L.N. The concept of regional economic and monetary union: difference from the theory of optimal currency zones // Money and credit. 2015. No. 7. P. 33–40.

9. . Arapova E.Ya. Asian currency unit: in search of the optimal structure of the currency unit // World Economy and International Relations. 2015. No 1. P. 40–51.

10. . Johnson J. The Russian Federation: International Monetary Reform and Currency Internationalization. The BRICS and Asia, Currency Internationalization and International Monetary Reform. 2013. No 3. P. 6–15.

11. . Lunev S.I. BRICS countries in globalization processes // Comparative politics. 2014. No. 3. P. 81–108.

12. . Galvao M. Brand BRIC brings change // The World Today. 2010. Vol. 66. No. 8–9. P. 13-15.

Система Orphus

Loading...
Up