Regional currency unions and supranational currency

Asaliev Asali Magometalievich, Jusim Vyacheslav Naumovich and Tarkhova Larisa Sergeevna
Additional contact information
Asaliev Asali Magometalievich: Plekhanov Russian University of Economics
Jusim Vyacheslav Naumovich: Plekhanov Russian University of Economics
Tarkhova Larisa Sergeevna: Plekhanov Russian University of Economics

Экономика региона, 2014, issue 1, 202-210

Abstract: Creation of voluntary regional economic alliances of independent countries was an important area of development of the regional and world economy at the end of XX-th century. They arise as a reaction on the dominance of the world’s few national currencies, playing a world level role. A basic feature characterizes trade relations in the framework of such alliances a departure from the world’s currencies and the use of specially created regional ones. Practically the main obstacle to the emergence and spread of such unions is instability of regional currencies associated with their binding to one of the national currencies of the country a member of the Union or to the gold standard. The article describes the theoretical solution and practical mechanism for creating independent of any national currency or gold, a supranational currency. The purchasing power of such a currency is determined by a specially created benchmark of purchasing power. It is demonstrated that the currency of this type allows using regional currencies without discrimination of member countries of the regional union. Also, there are given arguments about the prospect of using such currencies as the world’s.

Keywords: THE; PURCHASING; POWER; OF; CURRENCIES'; BENCHMARK (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations:

Downloads: (external link)
http://cyberleninka.ru/article/n/regional-currency ... pranational-currency

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:scn:015306:15663680

Access Statistics for this article

More articles in Экономика региона from CyberLeninka, Федеральное государственное бюджетное учреждение науки «Институт экономики Уральского отделения Российской академии наук»
Bibliographic data for series maintained by CyberLeninka ().