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The Vanishing Rouble

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  • Seabright,Paul

Abstract

One of the most remarkable aspects of the transition process in the former Soviet Union has been the extent to which the economy has effectively become demonetized in recent years. At the time of Russia's financial crisis of 1998 it was estimated that up to 70% of industrial output was being exchanged for barter. This book provides an accessible and authoritative analysis of barter in the former Soviet Union, addressing such questions as: • What has brought about this demonetization and why have we not seen the same phenomenon on a widespread scale in central and eastern Europe? • Does the nature of demonetization cast light on what underpins monetary transactions in industrial societies? • What are the consequences for output and growth? • Should the state intervene and how? • Does the network character of many non-monetary transactions have implications for the role and value of social networks in complex modern societies?

Suggested Citation

  • Seabright,Paul (ed.), 2000. "The Vanishing Rouble," Cambridge Books, Cambridge University Press, number 9780521790376, January.
  • Handle: RePEc:cup:cbooks:9780521790376
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    Citations

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    Cited by:

    1. Kobil Ruziev & Don Webber, 2017. "SMEs access to formal finance in post-communist economies: Do institutional structure and political connectedness matter?," Working Papers 20171701, Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol.
    2. Marin, Dalia & Schnitzer, Monika, 2005. "Disorganization and financial collapse," European Economic Review, Elsevier, vol. 49(2), pages 387-408, February.
    3. Kim, Byung-Yeon & Pirttila, Jukka, 2004. "Money, barter, and inflation in Russia," Journal of Comparative Economics, Elsevier, vol. 32(2), pages 297-314, June.
    4. Canice Prendergast & Lars Stole, 2001. "Barter, Liquidity and Market Segmentation," CESifo Working Paper Series 586, CESifo.
    5. Wladimir Andreff, 2004. "Would a Second Transition Stage Prolong the Initial Period of Post-socialist Economic Transformation into Market Capitalism?," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 1(1), pages 7-31, June.
    6. Jesús Fernández‐Villaverde, 2018. "Cryptocurrencies: A Crash Course in Digital Monetary Economics," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 51(4), pages 514-526, December.
    7. Gerando Bracho C. & Julio Lopez G., 2005. "The economic collapse of Russia," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 58(232), pages 53-89.
    8. Jose Noguera, 2004. "The transmission mechanism to barter," CERGE-EI Working Papers wp243, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    9. Akbar Marvasti & David J. Smyth, 2011. "Barter and Business Cycles: Further Empirical Evidence," The American Economist, Sage Publications, vol. 56(2), pages 85-97, November.
    10. Mechthild SCHROOTEN, 2003. "Fiscal Federalism And Regional Development In Russia," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 18, pages 53-72.
    11. Vlad Ivanenko, 2003. "Non-monetary Trade and Differential Access to Credit in the Russian Transition," William Davidson Institute Working Papers Series 539, William Davidson Institute at the University of Michigan.
    12. Jos?? Noguera & Susan J. Linz, 2005. "Barter, Credit, and Welfare: A theoretical inquiry into the barter phenomenon in Russia," William Davidson Institute Working Papers Series wp757, William Davidson Institute at the University of Michigan.
    13. Richard B. Goud Jr., 2002. "Inter-Firm Non-Monetary Transactions in Russia: A Literature Review," Development and Comp Systems 0207001, University Library of Munich, Germany.
    14. Gibson, John & Stillman, Steven & Le, Trinh, 2008. "CPI bias and real living standards in Russia during the transition," Journal of Development Economics, Elsevier, vol. 87(1), pages 140-160, August.
    15. Vlad Ivanenko & Dmitry Mikheyev, 2002. "The Role of Non-monetary Trade in Russian Transition," Post-Communist Economies, Taylor & Francis Journals, vol. 14(4), pages 405-419.
    16. Marin, Dalia & Huang, Haizhou & Xu, Chenggang, 2002. "Financial Crisis, Economic Recovery and Banking Development in Former Soviet Union Economies," Discussion Papers in Economics 27, University of Munich, Department of Economics.
    17. Gerando Bracho C. & Julio Lopez G., 2005. "The economic collapse of Russia," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 58(232), pages 53-89.
    18. John Round & Colin C. Williams & Peter Rodgers, 2008. "Corruption in the post-Soviet workplace: the experiences of recent graduates in contemporary Ukraine," Work, Employment & Society, British Sociological Association, vol. 22(1), pages 149-166, March.
    19. Tulbure, Narcis, 2008. "Values in Exchange: Ambiguous Ownership, Collective Action, and Changing Notions of Worth in Romanian Mutual Fund Industry," MPRA Paper 14087, University Library of Munich, Germany.
    20. Dolud, Olena, 2004. "Nichtmonetäre Transaktionen in der ukrainischen Landwirtschaft: Determinanten, Spezifika und Folgen," Studies on the Agricultural and Food Sector in Transition Economies, Leibniz Institute of Agricultural Development in Transition Economies (IAMO), volume 24, number 93080, September.
    21. Vlad Ivanenko, 2004. "Access to liquidity and non-monetary trade in Russia," Post-Communist Economies, Taylor & Francis Journals, vol. 16(1), pages 21-38.
    22. Milena Bieniek, 2021. "Bartering: Price-Setting Newsvendor Problem with Barter Exchange," Sustainability, MDPI, vol. 13(12), pages 1-22, June.
    23. Isabel Pla Julián, 2003. "Cambios institucionales en la economía rusa: de las reformas de mercado a la consolidación monetaria," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 5(8), pages 66-91, January-J.
    24. Hua, Guowei & Zhang, Yi & Cheng, T.C.E. & Wang, Shouyang & Zhang, Juliang, 2020. "The newsvendor problem with barter exchange," Omega, Elsevier, vol. 92(C).

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