01919cas a2200265 a 4500 AALejournalIMF003333 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451875478 1018-5941 BD-DhAAL BD-DhAAL Prokopenko, Vassili. A Common Currency for Belarus and Russia? / Vassili Prokopenko, Etibar Jafarov, Anne Gulde. Washington, D.C. : International Monetary Fund, 2004. 1 online resource (33 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper discusses costs, benefits, and implementation challenges of a possible currency union between Belarus and Russia. It shows that Belarus and Russia are economically closely linked but nevertheless do not fulfill all "optimal currency area" criteria, especially the macroeconomic symmetry condition. Furthermore, we argue that the different speeds of economic liberalization over the past decade have resulted in different economic structures, with Belarus still dependent on monetary financing of budgets and industries. However, a final cost-benefit analysis also needs to consider that currency unification may bring substantial benefits from reduced transaction costs, an improved macroeconomic environment in Belarus, and by acting as a catalyst to advance structural reforms in Belarus. Mode of access: Internet Gulde, Anne. Jafarov, Etibar. IMF Working Papers; Working Paper ; No. 2004/228 Full text available on IMF http://elibrary.imf.org/view/journals/001/2004/228/001.2004.issue-228-en.xml IMF e-Library