| In the section | Review, Discussion, Criticism |
| Title of the article | Transformation of Money and Financial Instruments of the Market in Conditions of Regionalization of the World Economy |
| Pages | 168-186 |
| Author 1 | Alexander Sergeevich Novoselov Doctor of Economics, Professor, Head of Department Regional and Municipal Management Institute of Economics and Industrial Engineering 17 Academika Lavrentiev Av., Novosibirsk, 630090, Russian Federation This email address is being protected from spambots. You need JavaScript enabled to view it. ORCID: 0000-0001-7484-3527 |
| Author 2 | Alexander Vasilievich Faleev Candidate of Sciences (Economics), Associate Professor of the Department of Economic Informatics Novosibirsk State Technical University 20 Karl Marx Av., Novosibirsk, 630073, Russian Federation This email address is being protected from spambots. You need JavaScript enabled to view it. ORCID: 0000-0001-8321-4968 |
| Abstract | The problems of transforming the elements of the global monetary and financial system in the direction of regionalization are discussed. The issues of prospects for de-dollarization and possible scenarios for switching to alternative means of payment in regional trade are discussed, five main scenarios for the development of the de-dollarization course are identified. The vulnerabilities of the Jamaican system in the context of global risks are identified. The analysis of the actual conditions for the formation of exchange rates is carried out. The main factors of the US dollar exchange rate formation are considered. A comparative analysis of the euro as a tool for replacing the world reserve currency is carried out, the weak position of the euro as a promising ‘donor’ of the US dollar has been revealed. The main threats to the economies of developing countries with weak national monetary institutions are formulated. An assessment of the structure of the distribution of investment gold among the national banks of the largest holders of reserves in precious metals is given, the dynamics of gold production and the dynamics of increment of reserves by national banks of the largest countries are considered, the prospects of gold mining and its distribution in the system of international finance are assessed. The applicability of futures of the main commodity markets as investment reserves is considered, the volatility of oil futures in terms of gold has been assessed. The prospects of the cryptocurrency market instruments as instruments for replacing the world reserve currency are assessed, the strengths and weaknesses of the processes of formation of crypto-tools markets are revealed |
| Code | 339.7 |
| JEL | F30, F33, G15 |
| DOI | https://dx.doi.org/10.14530/se.2023.1.168-186 |
| Keywords | international monetary and financial system, regionalization, exchange rate, de-dollarization, ruble, dollar, euro, gold, cryptocurrency |
| Download | SE.2023.1.168-186.Novoselov |
| For citation | Novoselov A.S., Faleev A.V. Transformation of Money and Financial Instruments of the Market in Conditions of Regionalization of the World Economy. Prostranstvennaya Ekonomika = Spatial Economics, 2023, vol. 19, no. 1, pp. 168–186. https://dx.doi.org/10.14530/se.2023.1.168-186 (In Russian) |
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| Financing | The research was carried out with the plan of research work of IEIE SB RAS, project ‘Regional and municipal strategic planning and management regarding public regional policy modernization as well as digital economy development’, No. 121040100283-2 |
| Submitted | 31.10.2022 |
| Approved after reviewing | 03.03.2023 |
| Accepted for publication | 10.03.2023 |
| Available online | 31.03.2023 |