INSTITUTIONAL ASPECTS OF MONETARY AND FINANCIAL REGULATION IN THE EURASIAN ECONOMIC UNION
The importance of developing and putting to practice the coordinated approaches to the monetary and financial policy in the framework of the Eurasian Economic Union is increasing along with the need to enhance the integration cooperation on the basis of the Customs Union (CU) and the Common Economic...
| Main Authors: | , |
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| Format: | Article |
| Language: | Russian |
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Government of the Russian Federation, Financial University
2017-10-01
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| Series: | Финансы: теория и практика |
| Subjects: | |
| Online Access: | https://financetp.fa.ru/jour/article/view/470 |
| _version_ | 1797878778226016256 |
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| author | V. Ia. Pishchik E. A. Zvonova |
| author_facet | V. Ia. Pishchik E. A. Zvonova |
| author_sort | V. Ia. Pishchik |
| collection | DOAJ |
| description | The importance of developing and putting to practice the coordinated approaches to the monetary and financial policy in the framework of the Eurasian Economic Union is increasing along with the need to enhance the integration cooperation on the basis of the Customs Union (CU) and the Common Economic Space (CES) of Russia, Belarus and Kazakhstan. The relevance of the subject is determined by numerous debatable issues of the monetary integration theory; moreover, the coordination level and timing of the monetary policy, methods and directions of the common financial market formation are not yet defined.Based on the synthesis and analysis of information obtained by the authors during their training in the Eurasian Economic Commission and from web resources, the article examines the institutional aspects of the monetary relations management in the Eurasian Economic Union and presents the authors’ assessment of factors that promote or hamper the monetary and financial integration in the region. It is shown that the insufficient level of trade and economic integration, poor coordination of monetary and fiscal policy at the continuing high volatility of national currencies in the Eurasian Economic Union hinders expansion of the scope and scale of using the Russian ruble and other national currencies in the mutual foreign trade settlements.The analysis substantiates the need to boost the institutional consolidation of regional integration, eliminate the remaining administrative and other barriers in the way of the cross-border movement of production factors, ensure consistent implementation of the provisions of the Eurasian Economic Union Treaty aimed at harmonization of the monetary and fiscal policy. |
| first_indexed | 2024-04-10T02:37:31Z |
| format | Article |
| id | doaj.art-0a6a324f23ed4441ab6a4c377c1fe0d3 |
| institution | Directory Open Access Journal |
| issn | 2587-5671 2587-7089 |
| language | Russian |
| last_indexed | 2024-04-10T02:37:31Z |
| publishDate | 2017-10-01 |
| publisher | Government of the Russian Federation, Financial University |
| record_format | Article |
| series | Финансы: теория и практика |
| spelling | doaj.art-0a6a324f23ed4441ab6a4c377c1fe0d32023-03-13T07:49:27ZrusGovernment of the Russian Federation, Financial UniversityФинансы: теория и практика2587-56712587-70892017-10-010692100506INSTITUTIONAL ASPECTS OF MONETARY AND FINANCIAL REGULATION IN THE EURASIAN ECONOMIC UNIONV. Ia. Pishchik0E. A. Zvonova1Финансовый университет, МоскваФинансовый университет, МоскваThe importance of developing and putting to practice the coordinated approaches to the monetary and financial policy in the framework of the Eurasian Economic Union is increasing along with the need to enhance the integration cooperation on the basis of the Customs Union (CU) and the Common Economic Space (CES) of Russia, Belarus and Kazakhstan. The relevance of the subject is determined by numerous debatable issues of the monetary integration theory; moreover, the coordination level and timing of the monetary policy, methods and directions of the common financial market formation are not yet defined.Based on the synthesis and analysis of information obtained by the authors during their training in the Eurasian Economic Commission and from web resources, the article examines the institutional aspects of the monetary relations management in the Eurasian Economic Union and presents the authors’ assessment of factors that promote or hamper the monetary and financial integration in the region. It is shown that the insufficient level of trade and economic integration, poor coordination of monetary and fiscal policy at the continuing high volatility of national currencies in the Eurasian Economic Union hinders expansion of the scope and scale of using the Russian ruble and other national currencies in the mutual foreign trade settlements.The analysis substantiates the need to boost the institutional consolidation of regional integration, eliminate the remaining administrative and other barriers in the way of the cross-border movement of production factors, ensure consistent implementation of the provisions of the Eurasian Economic Union Treaty aimed at harmonization of the monetary and fiscal policy.https://financetp.fa.ru/jour/article/view/470евразийский экономический союзединое экономическое пространствоинтернационализация национальных валютроссийский рубльмеждународные расчеты и платежиобщий финансовый рыноккурсовая политикабюджетная и налоговая политика |
| spellingShingle | V. Ia. Pishchik E. A. Zvonova INSTITUTIONAL ASPECTS OF MONETARY AND FINANCIAL REGULATION IN THE EURASIAN ECONOMIC UNION Финансы: теория и практика евразийский экономический союз единое экономическое пространство интернационализация национальных валют российский рубль международные расчеты и платежи общий финансовый рынок курсовая политика бюджетная и налоговая политика |
| title | INSTITUTIONAL ASPECTS OF MONETARY AND FINANCIAL REGULATION IN THE EURASIAN ECONOMIC UNION |
| title_full | INSTITUTIONAL ASPECTS OF MONETARY AND FINANCIAL REGULATION IN THE EURASIAN ECONOMIC UNION |
| title_fullStr | INSTITUTIONAL ASPECTS OF MONETARY AND FINANCIAL REGULATION IN THE EURASIAN ECONOMIC UNION |
| title_full_unstemmed | INSTITUTIONAL ASPECTS OF MONETARY AND FINANCIAL REGULATION IN THE EURASIAN ECONOMIC UNION |
| title_short | INSTITUTIONAL ASPECTS OF MONETARY AND FINANCIAL REGULATION IN THE EURASIAN ECONOMIC UNION |
| title_sort | institutional aspects of monetary and financial regulation in the eurasian economic union |
| topic | евразийский экономический союз единое экономическое пространство интернационализация национальных валют российский рубль международные расчеты и платежи общий финансовый рынок курсовая политика бюджетная и налоговая политика |
| url | https://financetp.fa.ru/jour/article/view/470 |
| work_keys_str_mv | AT viapishchik institutionalaspectsofmonetaryandfinancialregulationintheeurasianeconomicunion AT eazvonova institutionalaspectsofmonetaryandfinancialregulationintheeurasianeconomicunion |