Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/212785 
Year of Publication: 
2013
Series/Report no.: 
BOFIT Discussion Papers No. 30/2013
Publisher: 
Bank of Finland, Institute for Economies in Transition (BOFIT), Helsinki
Abstract: 
This study uses newly available data in a quantitative examination of the relationship between Soviet special foreign trade earnings (SFEs) and changes in the money supply. During the Soviet era, SFEs were effectively taxes on imports and exports. They generated as much as 7-15% of state budget revenues in the 1970s and 1980s. The results show that changes in net foreign assets and the money supply accounted for around 10% of SFEs. The remaining 90% of SFEs involve redistribution of existing domestic funds within a constellation of government agencies and state-owned enterprises. The lack of data precluded further exploration of this redistribution.
Subjects: 
Soviet
foreign trade
money
state budget
flow of funds
JEL: 
E66
N14
P33
P34
Persistent Identifier of the first edition: 
ISBN: 
978-952-6699-57-8
Document Type: 
Working Paper

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