Regional Formation and Development Studies

The introduction of the Maastricht criteria was a crucial step in ensuring fiscal discipline and economic stability in the European Union. However, the crises of recent decades, including the Great Recession, the sovereign debt crisis, the Covid-19 pandemic, and the energy crisis, have revealed the limitations of these rules. Strict fiscal requirements have hindered countries’ responses to economic challenges, highlighting the need for a more flexible and adaptive fiscal policy to better withstand future economic shocks. The aim of this paper is to evaluate the effectiveness of the European Union’s fiscal rules over the 20-year period, analysing GDP growth differences between the EU and the Eurozone, as well as the fiscal performance of individual member states. It also seeks to

The main purpose of this article is twofold. The first objective is to follow the main trends in the development in the Latvian’s monetary policy and the European Monetary system accession process, with a focus on the local currency stability problems. It discusses the process and strategies for choice of the strategy as well as the main issues that have arisen in the accession process. The second objective of this article is to investigate the on-going monetary policy of the Bank of Latvia, to analyse the basic principles of its operations and influence on national economic growth. Both objectives fully corresponding to the article’s research object, i.e. to a monetary policy of the Bank of Latvia. Regarding the developed countries the general monetary policy objectives deals not only with maintenance of stability of the exchange rate and general price level, but also with stimulation of economic development, growth of employment and incomes of the citizens. The period from 2003 till 2010 is being investigated. We use a wide range of research methods, such as: grouping method, method of comparison of financial ratios and etc.

The author considers scientific background of the methods and instruments of monetary policy under the integration conditions in the post-Soviet space. Analysis of formation conditions of the Economic and Monetary Union of Russia, Belarus, Kazakhstan, Armenia and Kirgizstan is presented. Findings about the expediency of the use of various theoretical approaches to regulation of exchange rate within the formation of state’s currency policy under globalization conditions are introduced. Problems of monetary and currency policy along with directions of their development in the Eurasian Economic Union (EAEU) are discussed. The directions of monetary and currency policy coordination within EAEU are offered. The author defines possibilities of their realisation under present conditions.