| Description |
1 online resource (32 pages) |
| Series |
IMF working paper ; WP/04/228 |
|
IMF working paper ; WP/04/228.
|
| Contents |
Contents -- I. INTRODUCTION -- II. THE PROPOSED CURRENCY UNION -- III. THEORETICAL CONSIDERATIONS -- IV. ECONOMIC COSTS AND BENEFITS OF CURRENCY UNIFICATION BETWEEN BELARUS AND RUSSIA -- V. IS OPERATIONAL ENVIRONMENT SUPPORTIVE OF A CURRENCY UNIFICATION OF BELARUS AND RUSSIA? -- VI. CONCLUSION -- REFERENCES |
| Summary |
This paper discusses costs, benefits, and implementation challenges of a possible currency union between Belarus and Russia. It shows that Belarus and Russia are economically closely linked but nevertheless do not fulfill all "optimal currency area" criteria, especially the macroeconomic symmetry condition. Furthermore, we argue that the different speeds of economic liberalization over the past decade have resulted in different economic structures, with Belarus still dependent on monetary financing of budgets and industries. However, a final cost-benefit analysis also needs to consider that currency unification may bring substantial benefits from reduced transaction costs, an improved macroeconomic environment in Belarus, and by acting as a catalyst to advance structural reforms in Belarus |
| Bibliography |
Includes bibliographical references |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
|
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
|
Print version record |
| Subject |
Monetary unions -- Belarus
|
|
Monetary unions -- Russia
|
|
Currency question -- Belarus
|
|
Currency question
|
|
Monetary unions
|
|
Belarus
|
|
Russia
|
| Form |
Electronic book
|
| Author |
Jafarov, Etibar, author.
|
|
Prokopenko, Vassili, author.
|
|
International Monetary Fund. European Department, issuing body.
|
|
International Monetary Fund. Monetary and Financial Systems Department, issuing body.
|
| ISBN |
1283511770 |
|
9781283511773 |
|
9781451875478 |
|
1451875479 |
|
9781451920079 |
|
1451920075 |
|
