Перадумовы і перспектывы ўдзелу Рэспублікі Беларусь у міжнароднай валютнай інтэграцыі

Abstract

Monetary integration is one of the main features of the modern globalized economy. The twelve EU countries that now form the Eurozone serve as an outstanding example of a large area with a common currency. A number of countries from Central and Eastern Europe are preparing to join it. The example of Poland demonstrates that a monetary unification with the developed countries is largely beneficial for a transition economy, especially in the long run because it is accompanied with a rise in foreign direct investment, trade creation and decrease of costs and uncertainty at the firm level. The Republic of Belarus can also benefit from monetary unification with one of the main trade partners but this process is to be preceded by large-scale market reforms.