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Political Instability and the August 1998 Ruble Crisis

Tatiana Fic and Omar Saqib ()

No 626, Discussion Papers of DIW Berlin from DIW Berlin, German Institute for Economic Research

Abstract: The main objective of this study is to highlight the importance of political instability, defined as frequent changes in and of government, in undermining the Russian exchange rate based stabilization program of the 1990s. The empirical evidence supports the significance of political instability along with economic fundamentals in determining Russian real effective exchange rate and exchange market pressure, used as a proxy to the crisis.

Keywords: Currency crises; political instability (search for similar items in EconPapers)
JEL-codes: F31 C13 (search for similar items in EconPapers)
Pages: 17 p.
Date: 2006
New Economics Papers: this item is included in nep-fmk and nep-tra
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Journal Article: Political Instability and the August 1998 Ruble Crisis (2006)
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