search query: @journal_id 1091 / total: 715
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| Author: | Lavrac, V. |
| Title: | The process of monetary disintegration in Czechoslovakia and in the former Soviet Union countries |
| Journal: | Bancni vestnik
1995 : VOL. 44:12, p. 9-15 |
| Index terms: | |
| Freeterms: | The Czech Republic, Slovakia, USSR, Russia, post-socialist countries, monetary systems, disintegration, currency, sovereignty |
| Language: | slv |
| Abstract: | The article describes the process of monetary disintegration in Czechoslovakia and in the former Soviet Union countries.Some problems and dilemmas facing the successor states are presented and the chosen solutions analysed.The newly emerged states, as a rule, opted for their monetary sovereignty and issued their own national currencies as a symbol of their political independence.They largely disregarded the lessons from the optimal currency area theory and calculation of economic costs and benefits which could be expected from monetary disintegration.In the case of Czech and Slovak republics monetary disintegration was designed in two successive phases, the monetary union and the clearing union.In the case of the former Soviet Union countries it is interesting to note that some of the countries in fact did not want to leave the ruble zone and to introduce their own currencies, but were practically forced to do so, as the ruble area finally collapsed. |
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