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The Soviets monetary experience (1917 – 1924) through the perspective of the discussion on unity and diversity of money

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  • Nenovsky, Nikolay

Abstract

The paper presents the evolution of monetary regimes and monetary reforms in the Soviet Union during the period following the seizure of power in October 1917 until the currency reforms carried out by the Soviet authorities in mid-1924. The studied period gives possibilities for reflection on the “diversity and complexity of monetary practices”, the currency competition and complementarity, the various ways of connecting the different monetary functions (measure, payment, exchange, store of value etc.). Of special interest are the relations between measure (accounting), and exchange (payments), and between large and small currency denominations.

Suggested Citation

  • Nenovsky, Nikolay, 2015. "The Soviets monetary experience (1917 – 1924) through the perspective of the discussion on unity and diversity of money," MPRA Paper 79864, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:79864
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    References listed on IDEAS

    as
    1. Nikolay Nenovsky & Yorgos Rizopoulos, 2004. "Peut-on mesurer le changement institutionnel du régime monétaire ?," Revue d'Économie Financière, Programme National Persée, vol. 75(2), pages 17-36.
    2. Mancur Olson, Jr., 1995. "Why the Transition from Communism Is So Difficult," Eastern Economic Journal, Eastern Economic Association, vol. 21(4), pages 437-461, Fall.
    3. Yurii Goland, 1994. "Currency regulation in the NEP period," Europe-Asia Studies, Taylor & Francis Journals, vol. 46(8), pages 1251-1296.
    4. Nikolay Nenovsky & Yorgos Rizopoulos, 2003. "Extreme Monetary Regime Change: Evidence from Currency Board Introduction in Bulgaria," Journal of Economic Issues, Taylor & Francis Journals, vol. 37(4), pages 909-941, December.
    5. Peter Bernholz, 2001. "Monetary Constitution, Political-Economic Regime, and Long-Term Inflation," Constitutional Political Economy, Springer, vol. 12(1), pages 3-12, March.
    6. Andrei Shleifer & Daniel Treisman, 2001. "Without a Map: Political Tactics and Economic Reform in Russia," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262692694, April.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    soviet hyperinflation; ar economy; NEP; russian economy; diversity and unity of money;
    All these keywords.

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations
    • P2 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies

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