Home  Journals  National Interests: Priorities and Security  8(341) - 2016 August

The development of a regional system of Central banks and ad hoc monetary policy in the EUA area, as a regulatory tool in the management of purchasing power of funds

Vol. 12, Iss. 8, AUGUST 2016

Article PDF Version

Received: 22 March 2016

Received in revised form: 13 April 2016

Accepted: 30 April 2016

Available online: 30 August 2016

Subject Heading: GLOBALIZATION

JEL Classification: G18, G28

Pages: 172-183

Subject The paper studies the mechanism of governance of purchasing power of funds on the basis of introduction and circulation of a single regional currency without functioning principles of secondary currency exchange subordination.
Objectives The paper aims to justify the conceptual principles and develop scientific and practical recommendations on forming a mechanism of public control over the purchasing power of funds in the territory of economically isolated group of States.
Methods For the study, I used the techniques of systems analysis, information approach, and specification.
Results The article shows the opportunities for implementation of a single regional currency through the establishment of a regional system of central banks. I defined the main functions and regulatory instruments of the existing system of commodity money, and I propose a new system of regulation of monetary policy that provides an effective single regional currency circulation in the economic zone of the countries surveyed.
Relevance The results obtained may lead to improvements in the governance mechanism of the funds' purchasing power on the basis of introduction and circulation of a single regional currency without functioning principles of secondary exchange subordination, ensuring the functioning of the economic system with the industrial self-sufficiency criterion.

Keywords: purchasing capacity, financial means, currency

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