Cashless Society and De-dollarization in Ukraine. What is Missing from Present Discussions?
Journal Title: Visnyk of the National Bank of Ukraine - Year 2016, Vol 0, Issue 238
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.
Authors and Affiliations
Marko Skreb, Kostiantyn Khvedchuk
Keywords
Related Articles
- EP ID EP426547
- DOI 10.26531/vnbu2017.238.006
- Views 161
- Downloads 0
Economic Impact of the Recent Decrease in Social Security Contributions in Ukraine
Social security contributions paid by firms were massively reduced in January 2016. We employ a state-of-the-art DSGE model to assess the effects of this measure on output, private consumption, and other key macroeconomi...
Behavioral Finance: History and Foundations
Recent evidence suggests that ideology has the potential to affect academic research in economics and that exposure to a wide range of approaches may increase intellectual diversity, eventually leading to better decision...
A Financial Stress Index for Ukraine
In this paper, we develop a daily Financial Stress Index (FSI) for the comprehensive quantitative measurement of the degree of stress in Ukraine’s financial system. We use 14 individual indicators grouped into four sub-i...
The NBU’s Balance Sheet: Before, During, and After the Crisis
Looking at the evolution of the central bank’s balance sheet gives us a unique window on the forces that have shaped our economy and central bank reaction functions. This paper considers the evolution of the NBU’s balanc...
Do Firm-Bank Relationships Affect Corporate Cash Holdings?
Abstract This paper explores the impact of firm-bank relationships on corporate cash holdings using a sample of more than 4,000 Ukrainian companies over the period from 2008 to 2015. The empirical evidence suggests that...