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Влияние долларизации на устойчивость платежной системы

Нелли Акылбекова, Эльмира Курамаева, Жылдыз Мырзахматова, Салтанат Омурова, Эрмек Омуров

Получено 13.07.2025, Доработано 08.11.2025, Принято 10.12.2025

Аннотация

Долларизация играет решающую роль в формировании стабильности платежной системы, особенно в экономиках с высоким уровнем использования иностранной валюты. Высокая долларизация может повысить уязвимость национальной экономики к внешним шокам, особенно к колебаниям обменного курса и изменениям в денежно-кредитной политике крупных экономик. Целью данного исследования был анализ влияния долларизации на устойчивость платежной системы в экономике с высоким уровнем использования иностранной валюты с акцентом на оценку динамики снижения долларизации в банковском секторе Кыргызской Республики и разработку рекомендаций по формированию сбалансированной денежно-кредитной политики, способствующей укреплению финансовой стабильности. В последние годы в Кыргызской Республике наблюдается устойчивая тенденция к снижению уровня долларизации как кредитного портфеля, так и депозитной базы банковского сектора. В данной работе исследовалось влияние долларизации на устойчивость платежной системы с акцентом на ее влиянии на динамику финансового сектора, риски ликвидности и эффективность денежных интервенций. В исследовании также анализировались структурные последствия долларизации, включая ее влияние на банковские операции, контроль инфляции и колебания обменного курса. Особое внимание уделено политическим мерам, которые могут смягчить негативные последствия долларизации, способствуя при этом формированию более устойчивой и адаптивной платежной системы. В статье рассмотрены положительные и отрицательные аспекты долларизации для стабильности платежной системы. Результаты подчеркивают важность сбалансированных монетарных стратегий для повышения финансовой стабильности в долларизированных экономиках

Ключевые слова:

внешний долг; банковский сектор депозитов в иностранной валюте; кредит в иностранной валюте; депозиты в иностранной валюте; инфляция; экономическая стабильность

Взято из Том 1, № 1, 2025

Страницы 8-18

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ЦИТИРОВАНИЕ

Akylbekova, N., Kuramaeva, E., Myrzakhmatova, Zh., Omurova, S., & Omurov, E. (2025). The impact of dollarisation on the stability of the payment system. Comparative Economics, 1(1), 8-18.