Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/212567 
Autor:innen: 
Erscheinungsjahr: 
2005
Schriftenreihe/Nr.: 
BOFIT Discussion Papers No. 15/2005
Verlag: 
Bank of Finland, Institute for Economies in Transition (BOFIT), Helsinki
Zusammenfassung: 
The analysis of external economic relations of Russia reveals a paradox: while Europe is the main trade and direct investment partner of Russia, this is far from being the case concerning its currency s role in Russia's financial activities.The dollar is much preferred by economic agents for financial operations.This paper proposes a disaggregated approach to this issue by separating the means of exchange and store of value components of the use of substitution currencies.The influence of three main factors (inertial component, real trade relations and exchange rate fluctuations) on the relative demand for the euro by Russian economic agents is tested for the period 1999-2004.Finally we suggest a theoretical interpretation of the results based on the conventions theory approach.
Schlagwörter: 
dollarisation
euroisation
transition
Russia
currency substitution
asset substitution
network externalities
hysteresis
conventions
JEL: 
E52
E41
F31
F41
G20
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
952-462-796-5
Dokumentart: 
Working Paper

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