Cashless Society and De-dollarization in Ukraine. What is Missing from Present Discussions?

Marko Skreb and Kostiantyn Khvedchuk ()
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Marko Skreb: Canada-IMF Capacity Building Project
Kostiantyn Khvedchuk: National Bank of Ukraine

Visnyk of the National Bank of Ukraine, 2016, issue 238, 6-12

Abstract: The National Bank of Ukraine stepped on the track to a cashless economy aiming at reforming the financial system, improvement of the transmission mechanism, and reduction of the underground economy and corruption. A substantial part of money in the Ukrainian economy is estimated to be foreign cash in circulation. This article underlines the importance of considering it while conducting monetary policy. Negative consequences of high dollarization and proliferation of cash are emphasized. We discuss measures that are helpful in decreasing usage of cash in general and foreign cash in particular.

Keywords: Cash demand; dollarization; negative mirage; hysteresis; cashless economy (search for similar items in EconPapers)
JEL-codes: E41 E50 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:ukb:journl:y:2016:i:238:p:6-12

DOI: 10.26531/vnbu2017.238.006

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