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Russian Currency and Finance : A Currency Board Approach to Reform - Steve H. Hanke

Russian Currency and Finance

A Currency Board Approach to Reform

Hardcover Published: 14th October 1993
ISBN: 9780415096515
Number Of Pages: 240

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As the new Russian state struggles with the transition to a market economy, the need for radical monetary reform becomes increasingly urgent. The choice of reform is crucial, for it will largely determine Russia's future economic performance. In order to break free of the lingering effects of Soviet central planning, the new Russian state needs a stable, convertible currency.
Steve H. Hanke, Lars Jonung and Kurt Schuler propose that Russia establishes a currency board which would issue a Russian currency fully convertible with international currency, backed 100 per cent by international bonds. The international community would aid in establishing the currency board by providing the initial reserves. Early supplies of this new Russian currency would be distributed free to Russian citizens. The authors give detailed explanations of how the currency board could be established and how it would work.

Industry Reviews

"All in all this is a worthwhile little book. The authors provide a great primer on currency boards and Russian financial problems. Best of all, they raise innumerable questions." -"Journal of Economic Literature "How does one install and ensure stable money in Russia? In my view, the only sure-fire way is to establish a currency board. This volume presents a sound blueprint for doing just that." -Sir Alan Walters

About the Authorsp. ix
Prefacep. xv
The Case for a Currency Board in Russiap. 1
The Case Against the Central Bank of Russiap. 21
Central Banking and the Russian Monetary Systemp. 42
Currency Boards, Central Banks, and the Money Supply Processp. 63
How to Establish a Currency Board in Russiap. 84
How to Operate and Protect a Currency Board in Russiap. 103
The Currency Board and Reform of the Russian Monetary Systemp. 115
Objections to a Currency Board in Russiap. 132
Two Successful Russian Monetary Reformsp. 146
Conclusionp. 156
p. 160
p. 163
p. 172
Notesp. 181
Bibliographyp. 192
Indexp. 210
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780415096515
ISBN-10: 0415096510
Audience: Tertiary; University or College
Format: Hardcover
Language: English
Number Of Pages: 240
Published: 14th October 1993
Country of Publication: GB
Dimensions (cm): 24.13 x 16.51  x 1.91
Weight (kg): 0.54
Edition Number: 1

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