Overview

Extreme inflation is the biggest problem facing Russia today. It is causing economic collapse, which in turn has caused political chaos. Unless the Russian currency is stabilized, attempts at reform are futile, but whilst currency is under the control of the Central Bank of Russia this is unlikely to happen. This book presents a radical alternative - the currency board system, such as exists currently in Hong Kong. Under this system, the rouble would be linked to a stable foreign currency at a fixed exchange rate, providing a stable, fully convertible domestic currency for Russia. The system is well-tested and has been used successfully before in Russia. The book also explains in detail how to establish and operate a currency board.

Full Product Details

9780415096515

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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. <br>- Journal of Economic Literature <br> 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. <br>-Sir Alan Walters <br>

Author Information

Hanke, Steve H.; Jonung, Lars; Schuler, Kurt

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