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Prospects for a Transition Towards Inflation Targeting in Russia

Author

Listed:
  • Sergey Drobyshevsky

    (Gaidar Institute for Economic Policy)

  • Pavel Trunin

    (Gaidar Institute for Economic Policy)

Abstract

In Russia, the pre-conditions for a successful transition to inflation targeting are beginning to emerge. The economy remains highly dependent upon the external economic conjuncture, but the financial crisis made for a steep increase in the demand of commercial banks for refinancing by the CBR. This has given the Bank of Russia the power to exercise real influence in the monetary sphere by the management of its interest rate

Suggested Citation

  • Sergey Drobyshevsky & Pavel Trunin, 2009. "Prospects for a Transition Towards Inflation Targeting in Russia," Working Papers 0019, Gaidar Institute for Economic Policy, revised 2012.
  • Handle: RePEc:gai:wpaper:0019
    as

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    File URL: https://www.iep.ru/files/RePEc/gai/wpaper/0019Drobyshevsky-Trunin.pdf
    File Function: Revised version, 2012
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