Format:
1 Online-Ressource
Content:
This report deals with problems related to, and the prospects of, using national currencies in mutual settlements between EAEU member states. The findings of a series of in-depth interviews with EAEU businessmen, regulators, and experts demonstrate that the main barriers preventing wider use of national currencies are economic in nature, but that there also exist political and regulatory restrictions. Based on a comprehensive analysis of the situation, and subject to proposals advanced by respondents, the authors have developed recommendations on ways to strengthen the role of national currencies in mutual settlements between EAEU countries. In particular, it may be necessary to assure transparent and plandriven integration, including better alignment of macroeconomic policies; to develop and implement joint investment projects; to expand cross-border cooperation; to accelerate the evolution and harmonization of financial markets; to increase protections for entrepreneurs, shareholders, and investors; to implement national currency-lending and hedging programs; to de-dollarize capital operations between EAEU member states and their cross-border settlements; to expand the mandates of financial institutions involved in the integration process. The authors emphasize that a directive approach to increasing the share of settlements in national currencies is counterproductive, and that positive results may be attained only by reducing transaction costs associated with the use of national currencies through organic growth, strengthening of EAEU national economies, and deepening of integration
Note:
In: Eurasian Development Bank Centre for Integration Studies' Report 48, 2018
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Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments January 9, 2018 erstellt
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Volltext nicht verfügbar
Language:
English
