Article ID Journal Published Year Pages File Type
1003265 Research in International Business and Finance 2006 14 Pages PDF
Abstract
The paper provides an indirect inquiry on the transmission mechanism of monetary policy in Russia for the period of 1995-2004 by looking at the nature of money supply in the country. The findings support endogenous nature of money supply with two sources of endogeneity characterising transition economy. This implies that interest rate management might be a better policy instrument for the Bank of Russia. Inflation is found to be the cause of money supply growth, which supports the endogenous money supply view.
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Social Sciences and Humanities Business, Management and Accounting Business and International Management
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