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Ruble overhang and ruble shortage: were they the same thing?

Authors :
Conway, Patrick
Source :
Journal of Comparative Economics. Feb, 1997, Vol. 24 Issue 1, p1, 24 p.
Publication Year :
1997

Abstract

The inability of households to convert their financial assets into purchasing power is the root cause of the ruble overhang that plagued the Soviet Union during its final days and the ruble shortages suffered by its successor states during their tenure. These shortages eventually led to the demise of the ruble monetary zone. Forced savings served as a buffer to a ruble overhang for years, until potential demand for goods and services outstripped supply. Like the ruble overhang, the ruble shortage was also an overhang in purchasing power, exhibited in the desire to liquidate bank deposits in return for currency.

Details

ISSN :
01475967
Volume :
24
Issue :
1
Database :
Gale General OneFile
Journal :
Journal of Comparative Economics
Publication Type :
Academic Journal
Accession number :
edsgcl.19364597