Open Access. Powered by Scholars. Published by Universities.®
Social and Behavioral Sciences Commons™
Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Social and Behavioral Sciences
The Disintegration Of The Ruble Zone: Driving Forces And Proposals For Policy Change, Lucjan T. Orlowski
The Disintegration Of The Ruble Zone: Driving Forces And Proposals For Policy Change, Lucjan T. Orlowski
WCBT Faculty Publications
This paper examines the irreversible process of the ruble zone disintegration. The theoretical fundamentals of a common currency area, with modifications incorporating a mechanism of transition from central planning, are discussed. The key reason for the ruble zone break-up is the discontinuation of indirect transfers that were provided mainly by Russia via underpricing energy exports to other republics. Being cut-off from such transfers and unable to finance the rising trade deficits with Russia, the independent states wish to disconnect their economies from the ruble zone. Among other economic arguments for leaving the ruble zone presented by the former Soviet republics …
Indirect Transfers In Trade Among Former Soviet Union Republics: Sources, Patterns, And Policy Responses In The Post-Soviet Period, Lucjan T. Orlowski
Indirect Transfers In Trade Among Former Soviet Union Republics: Sources, Patterns, And Policy Responses In The Post-Soviet Period, Lucjan T. Orlowski
WCBT Faculty Publications
Reports on indirect transfers in trade among the former Soviet Union Republics. The Former Soviet Union (FSU) was composed of 15 republics which were very unevenly endowed with human, physical and natural resources. To contain regional imbalances within the Union and to integrate all republics into a tight and centrally commanded division of labour, the central government operated a scheme of vertical fiscal redistribution between the Union budget and the republican budgets. Through this system poorer republics became net receivers of direct transfers and richer republics became net donors. This scheme, which collapsed with the dissolution of the Union in …