Authors:

Mariam A. Voskanyan and Ani G. Galstyan

Abstract:

The paper studies the prospects of currency integration between Armenia and Russia as a viable alternative for promoting integration within Eurasian space. In terms of theory and methodology, the research relies on classical and modern approaches in the field of monetary and currency regulation. The authors apply the methods of comparative and system analysis, deduction and induction, a graphical method, mechanisms of econometric and statistical analysis. Calculations were performed using Tool‑ Pak Ms Excel 2016 and an econometric package EViews 9.5. The authors assess key criteria for currency integration between Armenia and Russia from standpoint of countries’ cohesion as well as their readi‑ ness to create a monetary union and other forms of currency integration. The economists conclude that judging by the majority of the examined currency integration criteria, the countries are not ready to cre‑ ate a monetary union. However, the implementation of a scenario of a single payment system based on settlements in national currencies in foreign trade activities turns out to be quite acceptable

Keywords: ecurrency integration; currency union; Eurasian economic space; integration between Russia and Armenia.

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For citation: Voskanyan M.A., Galstyan A.G. Otsenka perspektiv valyutnoy integratsii Armenii i Rossii [Assess‑ ment of prospects for currency integration between Armenia and Russia]. Izvestiya Uralskogo gosudarstvennogo ekonomicheskogo universiteta – Journal of the Ural State University of Economics, 2018, vol. 19, no. 5, pp. 16–31. DOI: 10.29141/2073-1019-2018-19-5-2