The CIS : does the regional hegemon facilitate monetary integration?

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Title: The CIS : does the regional hegemon facilitate monetary integration?
Author: Mayes, David G. ; Korhonen, Vesa
Organization: Bank of Finland
Department / Unit: Institute for Economies in Transition (BOFIT)
Series: BOFIT Discussion Papers
Series number: 16/2007
Year of publication: 2007
Publication date: 24.7.2007
Published in: Published in International Economics, No 107, Issue 3, 2006
Pages: 28 s.
Keywords: IVY; integraatio; rahaliitot; Valko-Venäjä; Kazakstan; Venäjä; Ukraina; Bofit-kokoelma
JEL: F16; E63; E42
Abstract: We consider the likely economic impact and prospects for monetary integration among Belarus, Kazakhstan, the Russian Federation and Ukraine as part of the Single Economic Space they have agreed to set up. A monetary union among these countries poses three interesting issues for the structure and process of integration: they have already been members of a wider currency union that collapsed, so it is necessary to handle the problems of history; secondly the union would be of very unequal size with the Russian Federation outweighing the others taken together, so we must consider how the national interests would be balanced; lastly natural resources, particularly oil and gas pose problems for dependence and for the determination of the external exchange rate. JEL codes: F16, E63, E42 Key words: Monetary union, CIS, economic integration
Rights: https://helda.helsinki.fi/bof/copyright


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