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Perestroika and Ruble Convertibility


  • Edgar L. Feige


This paper examines the role of money in market and centrally planned economies. It then proposes a program and sequence of institutional, macroeconomic and monetary reform aimed at achieving a stable transition. An egalitarian redistribution of the state's custodial assets to its citizens is viewed as an necessary prelude to the introdcution of market reforms if the transition process is to achive the goals of efficiency and equity. The paper is to be published in the Cato Journal, Vol. 10 No. 3, Winter, 1991
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Suggested Citation

  • Edgar L. Feige, 1991. "Perestroika and Ruble Convertibility," Cato Journal, Cato Journal, Cato Institute, vol. 10(3), pages 631-653, Winter.
  • Handle: RePEc:cto:journl:v:10:y:1990:i:2:p:631-653

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    Cited by:

    1. Edgar L. Feige, 2003. "The Transition to a Market Economy in Russia: Property Rights, Mass Privatization and Stabilization," Development and Comp Systems 0312001, EconWPA.
    2. Steve H. Hanke and Kurt Schuler, 1993. "Currency Boards and Currency Convertibility," Cato Journal, Cato Journal, Cato Institute, vol. 12(3), pages 687-727, Winter.
    3. A. James Meigs, 1993. "Eurodollars: A Transition Currency," Cato Journal, Cato Journal, Cato Institute, vol. 12(3), pages 711-730, Winter.
    4. Alan Reynolds, 1993. "Monetary Reform in Russia: The Case for Gold," Cato Journal, Cato Journal, Cato Institute, vol. 12(3), pages 657-686, Winter.

    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General


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