The Ruble
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The Ruble
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Author : Ekaterina Pravilova
language : en
Publisher: Oxford University Press
Release Date : 2023-05-30
The Ruble written by Ekaterina Pravilova and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-05-30 with History categories.
A groundbreaking history of Russia, from empire to the Soviet era, viewed through the lens of its money. Money seems passive, a silent witness to the deeds and misdeeds of its holders, but through its history intimate dramas and grand historical processes can be told. So argues this sweeping narrative of the ruble's story from the time of Catherine the Great to Lenin. The Russian ruble did not enjoy a particularly reputable place among European currencies. Across two hundred years, long periods of financial turmoil were followed by energetic and pragmatic reforms that invariably ended with another collapse. Why did a country with an industrializing economy, solid private property rights, and (until 1918) a near perfect reputation as a rock-solid repayer of its debts stick for such a prolonged period with an inconvertible currency? Why did the Russian gold standard differ from the European model? In answering these questions, Ekaterina Pravilova argues that politics and culture must be considered alongside economic factors. The history of the Russian ruble offers an opportunity to explore the political reasons behind the preservation of a supposedly backward financial system and to show how politicians used monetary reforms to block or enact political transformations. The Ruble is a history of Russia written in the language of money. It shows how economists, landowners, merchants, and peasants understood, perceived, and used financial mechanisms. In her sweeping account, Pravilova interprets the well-known political events of the eighteenth to early twentieth centuries--wars, attempts at constitutional transformations, revolutions--through the ideas and politics of currency reforms and offers a new history of Russia's imperial expansion and collapse.
The Ruble
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Author : Ekaterina Anatolʹevna Pravilova
language : en
Publisher:
Release Date : 2023
The Ruble written by Ekaterina Anatolʹevna Pravilova and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with Monetary policy categories.
"The Ruble is a political history of Russian money from Catherine the Great to Vladimir Lenin. It traces the evolution of the Russian state and society through the analysis of monetary reforms. The Ruble argues that currency constituted an important element of Russian political organization - first, autocratic, and then socialist, while monetary reforms were considered as the means of enabling or preventing political transformations. The Ruble shows how politics affected finance and explains why Russia's financial system remained unstable for many decades. Russian imperial government considered certain financial models, such as the independence of the bank of issue, to be incompatible with the principles of autocratic monarchy. The ruble represented a projection of monarchal power and a tool of imperial expansion. Russian government used emission to finance imperial wars and prioritized geopolitical successes over economic development. Russia was the last European empire to join the gold standard system, and the gold ruble differed from other gold-based currencies of the world. The Ruble analyzes the phenomena of the "autocratic" and "Soviet" gold standards and argues that the gold-based ruble differed from other currencies of the gold-standard system. Despite the preponderance of the conservative trend in monetary policy, Russian economists, liberal politicians and intellectuals argued for a radical reform of Russian money and wanted to liberate the ruble from the tutelage of the state. From Catherine the Great's reform until the 1920s, the ruble remained an object of many political programs, utopian projects, and economic ideologies"--
The Ruble Problem
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Author :
language : en
Publisher: Hoover Press
Release Date :
The Ruble Problem written by and has been published by Hoover Press this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
A Full Value Ruble
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Author : Kristy Ironside
language : en
Publisher: Harvard University Press
Release Date : 2021-06-01
A Full Value Ruble written by Kristy Ironside and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-01 with History categories.
A new history shows that, despite MarxismÕs rejection of money, the ruble was critical to the Soviet UnionÕs promise of shared prosperity for its citizens. In spite of Karl MarxÕs proclamation that money would become obsolete under Communism, the ruble remained a key feature of Soviet life. In fact, although Western economists typically concluded that money ultimately played a limited role in the Soviet Union, Kristy Ironside argues that money was both more important and more powerful than most histories have recognized. After the Second World War, money was resurrected as an essential tool of Soviet governance. Certainly, its importance was not lost on Soviet leaders, despite official Communist Party dogma. Money, Ironside demonstrates, mediated the relationship between the Soviet state and its citizens and was at the center of both the governmentÕs and the peopleÕs visions for the maturing Communist project. A strong rubleÑone that held real value in workersÕ hands and served as an effective labor incentiveÑwas seen as essential to the economic growth that would rebuild society and realize CommunismÕs promised future of abundance. Ironside shows how Soviet citizens turned to the state to remedy the damage that the ravages of the Second World War had inflicted upon their household economies. From the late 1940s through the early 1960s, progress toward Communism was increasingly measured by the health of its citizensÕ personal finances, such as greater purchasing power, higher wages, better pensions, and growing savings. However, the increasing importance of money in Soviet life did not necessarily correlate to improved living standards for Soviet citizens. The Soviet governmentÕs achievements in Òraising the peopleÕs material welfareÓ continued to lag behind the WestÕs advances during a period of unprecedented affluence. These factors combined to undermine popular support for Soviet power and confidence in the Communist project.
Contested Currency
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Author : Rawi Abdelal
language : en
Publisher:
Release Date : 2002
Contested Currency written by Rawi Abdelal and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.
The 1990s were a difficult decade for the ruble, the Soviet currency that in 1991 became the common currency for all fifteen post-Soviet states, and by 1995 had become Russia's currency only. Within Russia the ruble was systematically rejected by firms and citizens in favor of complicated barter arrangements, leaving many important sectors of the Russian economy essentially demonetized. Several of Russia's provinces issued their own currencies, and many financial institutions and firms issued monetary surrogates, undermining the Russian state's monopoly on the definition of money. And the ruble fared little better outside of Russia. The ruble was subject to severe exchange-rate instability, as well as repeated speculative attacks. Several post-Soviet governments rejected the "occupation ruble" in early 1992 and introduced their own, national currencies. The experience of the ruble during the first post-Soviet decade illuminates three of the most important issues in the politics of Russia and the former Soviet Union. First, money was a critical nexus between economic reform and state building within Russia. Second, Russia's internal debates about the ruble zone mirrored broader debates about Russian national and state identities, particularly as they related to the rest of the post-Soviet Eurasia. Third, the decline and fall of the ruble zone reveals a great deal about how the other fourteen successor states, and the societies living within them, viewed their relations with Russia and among themselves.
The Exchange Rate Of The Ruble Is Close To The Equilibrium Point
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Author : Alexandra Bozhechkova
language : en
Publisher:
Release Date : 2016
The Exchange Rate Of The Ruble Is Close To The Equilibrium Point written by Alexandra Bozhechkova and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
The balance of payments for 2015 shows an increasing surplus in the current account balance, which has resulted from the shrinking deficit in the balance of services, the investment income balance and wages, coupled with the decreasing surplus in the trade balance. The accelerated weakening of the ruble in real terms against the national currencies of the developing countries during some prolonged periods of time in 2014-2015 was triggered by the mounting geopolitical risks and the plummeting oil prices.
Ruble Overhang And Ruble Shortage
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Author : Patrick J. Conway
language : en
Publisher: World Bank Publications
Release Date : 1994
Ruble Overhang And Ruble Shortage written by Patrick J. Conway and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Cash flow categories.
Understanding The Ruble
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Author : Robert V. Jones
language : en
Publisher:
Release Date : 1961
Understanding The Ruble written by Robert V. Jones and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1961 with categories.
The Ruble Collapse In An Online Marketplace
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Author : John J. Horton
language : en
Publisher:
Release Date : 2021
The Ruble Collapse In An Online Marketplace written by John J. Horton and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
The sharp devaluation of the ruble in 2014 increased the real returns to Russians from working in a global online labor marketplace, as contracts in this market are dollar-denominated. Russians clearly noticed the opportunity, with Russian hours-worked increasing substantially, primarily on the extensive margin--incumbent Russians already active were fairly inelastic. Contrary to the predictions of bargaining models, there was little to no pass-through of the ruble price changes in to wages. There was also no evidence of a demand-side response, with buyers not posting more "Russian friendly" jobs, suggesting limited cross-side externalities. The key findings--a high extensive margin elasticity but low intensive margin elasticity; little pass-through into wages; and little evidence of a cross-side externality--have implications for market designers with respect to pricing and supply acquisition.
An Estimation Of Fundamentally Substantiated Real Exchange Rate Of The Ruble
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Author : Alexandra Bozhechkova
language : en
Publisher:
Release Date : 2015
An Estimation Of Fundamentally Substantiated Real Exchange Rate Of The Ruble written by Alexandra Bozhechkova and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
The key factor in the strengthening of the real exchange rate of the ruble in the 2000s was the transformation based growth of Russia's economy (the Balassa-Samuelson effect) coupled with the improving foreign trade conditions. As can be concluded on the basis of data for Q4 2014, for the ruble's real exchange rate to return to its fundamentally substantiated level, it was to be increased by 6.2%. In view of expectations of inflation in the RF and her trade partners at the rates of 12-14% and 3-4% respectively, the real effective exchange rate of the ruble in 8-11 months will return to its equilibrium level, if the nominal rate remains stable and the fundamental factors do not deteriorate.