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Monetary Policy in the Soviet Union

Empirical Analyses of Monetary Aspects of Soviet Economic Development

  • Book
  • © 2017

Overview

Authors:
  1. Yasushi Nakamura

    1. Yokohama, Japan

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  • Reveals new information on the Soviet Economic System

  • Explores Soviet Union data

  • Discusses Soviet Economic collapse and the significance behind it

  • Includes supplementary material: sn.pub/extras

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Table of contents (7 chapters)

  1. Front Matter

    Pages i-xvii
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  2. Introduction

    • Yasushi Nakamura
    Pages 1-11

  3. Historical Background of the Soviet Monetary Policy

    • Yasushi Nakamura
    Pages 13-43

  4. Soviet Productivity Growth

    • Yasushi Nakamura
    Pages 45-74

  5. Performance of Soviet Cash Money Management

    • Yasushi Nakamura
    Pages 75-98

  6. Soviet Banking and Non-cash Money Management

    • Yasushi Nakamura
    Pages 99-124

  7. Money Supply and Soviet Foreign Trade

    • Yasushi Nakamura
    Pages 125-150

  8. Soviet Monetary Policy and Government Debts

    • Yasushi Nakamura
    Pages 151-190

  9. Back Matter

    Pages 191-222
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Keywords

About this book

This book sheds light on ​the Soviet economic system, which claimed the eventual abolition of money, collapsed following a monetary turmoil. It argues that the cause of the economic collapse was embedded in the design of the economic system. The Soviet economic system restricted the market, but continued to use fiat money. Consequently, it faced the question for which no feasible answer seemed to exist: how to manage fiat money without data and information generated by the market? Using Soviet data newly available from the archives, the book evaluates the performance of the components of monetary management mechanism, discovers the continuous accumulation of open and secret government debts, and quantitatively analyzes the relationship between economic growth and the money supply to support the argument. The book concludes that the Soviet economic collapse marked the end of the long history of Soviet monetary mismanagement.

Authors and Affiliations

  • Yokohama, Japan

    Yasushi Nakamura

About the author

Yasushi Nakamura is a Professor at Yokohama National University, Japan.

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