Macroeconomic Convergence Within The Eurasian Economic Union: Implications For The Formation Of A Regional Monetary Union

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Khamrakulov A.K., Djumonov D.S., Qarshiyev Sh.E., Narzullayev S.N., Kholmukhamedova Z.B., Musayeva N.N.


The research paper was substantiated that a monetary union reduces the level of financial stability in the economies of the countries participating in it. This is because the existence of differences in the inflation rates among the economies of the countries participating in the monetary union, acts as an additional factor of development financial instability due to the loss of key instruments of monetary and foreign exchange policy. In this regard, the fact that the economies of the states entering the monetary union must reach a certain level of convergence is beyond doubt. Similar what compliance with the required level of convergence will help avoid negative economic shocks from the introduction of a single currency. However, at the moment there is no unified approach to assessing the level of convergence. The author's approach to assessing the level of convergence of the economies of countries entering the monetary union, and a methodology for assessing it developed on the basis of this approach.

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