Harrison, Barry; Vymyatnina, Yulia - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2007
Currency substitution, the use of foreign money to finance transactions between domestic residents, is a common feature … of emerging market economies. Currency substitution re-duces the stability of money demand functions in ways that can …-mies, including Russia, experienced widespread currency substitution in the early phase of transition. Following Russia’s financial …