CMEA’s Hard Currency Deficits and Rouble Convertibility

Franklyn D. Holzman
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Franklyn D. Holzman: Tufts University

Chapter 10 in Economic Relations between East and West, 1978, pp 144-170 from Palgrave Macmillan

Abstract: Abstract Over the past fifteen years, the CMEA countries† have consistently run hard currency deficits in their trade with the West. I will first consider very briefly the extent and causes of these deficits. In Sections II and III, various Eastern convertible-currency proposals, which are related to financing these deficits, will be discussed. The policy issues will be summarised in the final Section. Because of the limitations of space, some of the issues discussed below will be considerably oversimplified.

Keywords: Foreign Trade; Economic Relation; National Currency; Socialist Country; World Prex (search for similar items in EconPapers)
Date: 1978
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-16000-6_11

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DOI: 10.1007/978-1-349-16000-6_11

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