Theory of Optimal Currency Zones: from Classics until Today
Journal Title: Бізнес Інформ - Year 2013, Vol 12, Issue 0
Abstract
The article analyses evolution of the theory of optimal currency zones (OCZ), starting from its classical provisions until moder developments. Based on the critical analysis of classical criteria of OCZ, the article develops a scheme of selection of the currency mode by the Robert Mundell theory. It considers achievements of the alternative OCZ theory, the main provisions of which are shown schematically in the form of illustrations of evolution of the theory of optimal currency zones. In the result of analysis of classical criteria of optimal currency zones and generalisation of developments of the new OCZ theory, the article develops a universal algorithm of identification of optimal conditions for an efficient currency zone. Using this algorithm allows identification of a system of quantitative indicators of expediency of regional joining the OCZ, on the basis of which one can build an economic model of an optimal currency zone, which reflects the degree of readiness of any country to join or develop the OCZ. Development of this model is necessary for many countries that face the need to select the currency integration. This model is of special importance for Ukraine, for which it is important to select the course of external integration, since various directions of foreign policy significantly influence efficiency of the domestic economic policy in the country.
Authors and Affiliations
Anastasiya Pinchuk
Keywords
Related Articles
- EP ID EP115594
- DOI -
- Views 89
- Downloads 0
Current Status and Future Directions of the State Support for Ukrainian Dairy Sector
Dairy sector is a classic example of the socially-oriented industry sector, whose products contain over a hundred different valuable nutrients, which is in demand by all segments of the population regardless of age, sex,...
Main Principles of Formation of the Complex of Models of Management of Financial Risks of a Company
The article is devoted to basics of management of financial risks of a company. It develops a system of management of financial risks of a company and identifies main principles of its construction. It provides tasks, go...
Modern Approaches to Formation of Competitiveness of Products of the Meat and Milk Stock-breeding
The goal of the article lies in systematisation of views of researchers on definition of the competitiveness of production of the meat and milk stock-breeding notion and identification of criteria and indicators. In the...
Marketing Policy of Pricing: Analysis and Impact on Company's Revenue
The need for detailization of methodological bases for improving the pricing against the background of fluctuating market conditions determined the choice of the topic for research. Accordingly, the article is aimed at c...
Study of the Results of Activity in the System of Planning of Financial Potential of Enterprises
The article analyses financial indicators of activity of enterprises of the Kharkiv Oblast in 2001 - 2011, which confirms the crisis state of the domestic real sector of economy. It studies impact of the results of an en...