Supranational Currency Regulation: Theoretical and Practical Approaches

Abstract

Subject. The article deals with the issues of supranational currency regulation, deeming it a prerequisite for the return of the world economy to a sustainable, confident and balanced growth path. Objectives. The article aims to study theoretical and practical approaches to the organization of supranational monetary cooperation of sovereign States at the global and regional levels. Methods. For the study, I used scientific methods of systems approach, analogy, modeling, and abstraction. Results. The article shows that in current conditions of development of the world economy the euro, being the only fully functioning project of supranational monetary integration, has not yet created conditions for the participating countries for harmonious and stable development. The practice of transferable ruble circulation proved the possibility of simultaneous expansion of mutual trade and balanced development of all participants of supranational currency cooperation. Conclusions and Relevance. To enter a new level of supranational currency cooperation, sovereign States are required to develop an integrated approach to solving a number of economic, technical and political problems. The results of the research can be useful in the development of theoretical and practical approaches to supranational currency regulation.