Russian and Belarus monetary union: Phantom or reality?

Chaplygin, Vladimir

doi:10.1007/bf03032204

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2007

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“…Thus the Russian Federation could expect to be outvoted if there are several members or at least an agreement (consensus in the words of the Eurosystem) would be required if there are only two parties. Chaplygin (2006) provides a discussion of some of the issues affecting the decision.…”

Section: Costsmentioning

confidence: 99%

The CIS - Does the Regional Hegemon Facilitate Monetary Integration?

Mayes

Korhonen

2007

SSRN Journal

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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.

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Section: Costsmentioning

confidence: 99%