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Prospects of monetary integration of the EEU countries

Vol. 11, Iss. 2, MAY 2018

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Received: 1 July 2017

Received in revised form: 5 December 2017

Accepted: 12 December 2017

Available online: 31 May 2018

Subject Heading: Economic policy

JEL Classification: E41, E44, F10, F15

Pages: 205–222

Shvandar K.V. Financial Research Institute of Ministry of Finance of Russian Federation (FRI), Moscow, Russian Federation

ORCID id: not available

Anisimova A.A. Financial Research Institute of Ministry of Finance of Russian Federation (FRI), Moscow, Russian Federation

ORCID id: not available

Yakovleva I.I. Russian Presidential Academy of National Economy and Public Administration (RANEPA), Moscow, Russian Federation

ORCID id: not available

Subject The article deals with the issues of economic integration and national currencies use in international settlements in the EEU countries.
Objectives The purpose of this work is to identify factors that encourage the expansion of national currencies settlements in the EEU area.
Methods The article analyzes the main reasons of using the national currency in international settlements and describes the mechanism of such settlements under strict restrictions in the currency legislation of the country. On the basis of generalization and analysis of experience of internationalization of the Chinese yuan, the article considers the most important factors of intensification of settlements in national currencies in the EEU space.
Results The article identifies the main factors contributing to the choice of the national currency in the implementation of trade transactions.
Conclusions The article makes conclusions about the development of settlements in Russian rubles and currencies of the EEU countries.

Keywords: currency internationalization, exchange rate, commercial arithmetics, inflation, monetary policy


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