Political Instability and the August 1998 Ruble Crisis
AbstractThe main objective of this study is to highlight the importance of political instability, defined as frequent changes in and of government, in undermining the Russian exchange rate based stabilization program of the 1990s. The empirical evidence supports the significance of political instability along with economic fundamentals in determining Russian real effective exchange rate and exchange market pressure, used as a proxy to the crisis.
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Bibliographic InfoPaper provided by DIW Berlin, German Institute for Economic Research in its series Discussion Papers of DIW Berlin with number 626.
Length: 17 p.
Date of creation: 2006
Date of revision:
Currency crises; political instability;
Other versions of this item:
- Fic, Tatiana & Saqib, Omar Farooq, 2006. "Political Instability and the August 1998 Ruble Crisis," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 21, pages 764-783.
- F31 - International Economics - - International Finance - - - Foreign Exchange
- C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-10-07 (All new papers)
- NEP-FMK-2006-10-07 (Financial Markets)
- NEP-TRA-2006-10-07 (Transition Economics)
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