Assessment of influence of structural factors on extent of internationalization of currencies

Abstract

N modern conditions in addition to the conjunctural effects of structural factors is the key to a balanced development of the real and financial sectors of the national economy, including the currency system. Stability latest supported including due to the demand on the global market for the national currency, which is the degree of its internationalization. The use of correlation and regression analysis allowed to identify the main structural factors that affect the degree of internationalization of a number of currencies in the world: the share of the country's GDP in world GDP, export share of direct investments in global exports of investment, the share of merchandise exports in international trade. On this basis, the article concludes on the need for the Russian monetary and economic authorities with the policy of structural transformation of the real sector of the economy to avoid a future currency collapse of the ruble, similar to what happened autumn-winter 2014.