The Russian Foreign Exchange Policy on the Wave of Crisis Cycle

Andrei Shulgin

Applied Econometrics, 2006, vol. 4, issue 4, 18-48

Abstract: The work analyses the foreign exchange policy of The Central Bank of Russia in the wake of the 1988 financial crisis. The period (1998–2006) called “crisis wave” is divided into several wave phases and each one should be analyzed sepa-rately. Special attention is given to the last wave phase starting in 2003. The foreign exchange policy rule is estimated by using VECM methodology. Two alternative hypotheses of exchange rate targeting (real against nominal targeting) are tested for that period.

Keywords: exchange policy; financial crisis (search for similar items in EconPapers)
JEL-codes: F31 G01 (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:ris:apltrx:0153

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