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Russian Currency and Finance

A Currency Board Approach to Reform

Russian Currency and Finance by Steve H. Hanke
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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.
Taylor and Francis; August 2005
ISBN 9781134863693
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Title: Russian Currency and Finance
Author: Steve H. Hanke; Lars Jonung; Kurt Schuler
 
ISBNs
0203980301
9780203980309
9780415096515
9781134863679
9781134863693