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Prospects for a Transition Towards Inflation Targeting in Russia

Sergey Drobyshevsky and Pavel Trunin

Working Papers from Gaidar Institute for Economic Policy

Abstract: In Russia, the pre-conditions for a successful transition to inflation targeting are beginning to emerge. The economy remains highly dependent upon the external economic conjuncture, but the financial crisis made for a steep increase in the demand of commercial banks for refinancing by the CBR. This has given the Bank of Russia the power to exercise real influence in the monetary sphere by the management of its interest rate

Keywords: Inflation targeting; institutional environment; developing countries; transition economies; exchange rate (search for similar items in EconPapers)
Pages: 4717 words
Date: 2009, Revised 2012
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Downloads: (external link) Revised version, 2012 (application/pdf)

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