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Russian Currency and Finance - A Currency Board Approach to Reform (Hardcover, New)
Loot Price: R4,584
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Russian Currency and Finance - A Currency Board Approach to Reform (Hardcover, New)
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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.
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