The Monetary Standard as a Mark of Evolution of the World Monetary System
Abstract
The object of research is the world monetary system, while the subject is its evolution. The author analyzes different approaches to the definition of the monetary system and its evolution. Both formal and actual monetary standard are determined. Evolution of the global monetary system was analyzed in terms of evolution of monetary standards, and six stages are identified. Financial partnerships of Russia, the USSR and the rest of the world at every stage are studied. Conclusions on the prospects of new monetary standards based on fixed currency parities are made.
Keywords:
monetary standard, world monetary system evolution, global monetary system, financial partnership of the USSR, financial partnership in Russia
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Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.