voprecotestВопросы экономикиVoprosy Ekonomiki0042-8736Voprosy Ekonomiki, NP10.32609/0042-8736-2016-2-56-76voprecotest-163Research ArticleФИНАНСОВАЯ ЭКОНОМИКАFINANCIAL ECONOMICSПриключения теории оптимальных валютных зонAdventures of the optimum currency areas theoryМоисеевС. Р.MoiseevS.

д.  э.  н., директор Департамента финансовой стабильности Банка России (Москва)

msr@mail.cbr.ruБанк РоссииРоссияBank of RussiaRussian Federation201620022016025676Copyright © Voprosy Ekonomiki, NP, 20162016Voprosy Ekonomiki, NPVoprosy Ekonomiki, NPhttps://www.vopreco.ru/jour/about/submissions#copyrightNoticehttps://www.vopreco.ru/jour/article/view/163

Теорию оптимальных валютных зон создали три известных экономиста - Р. Манделл, Р. Маккиннон и П. Кенен. Они определили характеристики, которыми должны обладать потенциальные участники валютной зоны, чтобы отказаться от независимой денежно-кредитной политики и корректировки обменного курса национальной валюты. В статье рассматривается историческое развитие теории оптимальных валютных зон, обсуждаются причины обновления теории в начале 1990-х годов. Выделяются некоторые важные связи между историческими фактами, развитием экономической теории и государственной политикой.

The theory of optimum currency areas was created by three famous economists, R. Mandell, R. McKinnon and P. Kenen. They identified characteristics that potential participants of a currency area should possess in order to make it feasible to surrender the independent monetary policy and the adjustment of an exchange rate of a national currency. We consider the historical development of the optimum currency areas theory and review factors which led to renewal of the theory in the early 1990s. The article focuses on some important links between historic facts, development of the economic theory, and public policy.

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The authors declare that there are no conflicts of interest present.