The article considers the feasibility of currency integration in the BRICS format, as well as the optimality of BRICS as a currency zone. In the course of the study, calculations have been made using the optimality formula for a currency zone. This model allows one to analyze the ratio of macroeconomic indicators of pairs of countries and find the average optimality coefficient of the entire association for currency integration. In addition, the research provides additional economic and geopolitical criteria, which are used to check the relevance of the primary calculations using the optimal currency zone model. Correlation of labor markets, the ratio of investment attractiveness levels correlation of business and financial cycles, inflationary convergence, geopolitical risks - all this has a direct or indirect impact on the success of integration. The data obtained after calculation and verification using additional criteria reflect the real degree of readiness of BRICS to create a single currency, as well as the predisposition of individual countries to economic integration. The purpose of the article is not to discredit the BRICS programs, but to provide a scientific approach to the analysis of one of the initiatives repeatedly promoted during BRICS summits. The feasibility of currency integration in the BRICS format is a complex multifaceted process that requires enormous time and resource expenditures from all member states of the association. This state of affairs runs counter to individual calls and statements made by politicians of the BRICS states, which may somewhat distort the idea of the subject of the study – currency integration in the BRICS format – in the eyes of the public.
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Tarasov Makar Viktoroch
Lomonosov Moscow State University
Moscow, Russian Federation
