The Transferable Rouble and Convertibility in the Cmea

  • László Csaba
Part of the Vienna Institute for Comparative Economic Studies book series (VICES)

Abstract

The present paper tries to throw light on some of the new aspects of convertibility in the European CMEA region, first of all at the regional level. I shall confine myself to purely financial aspects and to closely related problems of economic management; analyses of ‘real’ economic processes and economic policy alternatives are consciously omitted.

Keywords

Europe Income Defend Romania Monopoly 

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. Allen, Mark, Discussion (of Brainard: op. cit.) in Paul Marer, John Michael Montias (eds.) East European Integration and East-West Trade, Indiana University Press, Bloomington 1980.Google Scholar
  2. Asztalos, Lészló, ‘Néhány gondolat a szocialista viszonylatu nem kereskedelmi elszámolások továbbfejlesztéséröl’ (Some ideas on the perfectioning of the system of non-commercial accounts with socialist countries). Egyetemi Szemle, 81/3.Google Scholar
  3. Bánfi, Tamás, Valutaárfolyam-elmélet és-politika. (Theory and policy of exchange rates). Közgazdasági és Jogi Könyviadó, Budapest 1981.Google Scholar
  4. Bognár József, A kelet-nyugati gazdasági kapcsolatok jelentösége és jövöje a következö évtizedek viléggazdaságában. (Significance and future of East-West economic relations in the world economy of next decades). Paper presented at the 5th meeting of French and Hungarian economists in Paris, February, 1982 (also available in French and English).Google Scholar
  5. Bogomolov, Oleg, ‘Mezhdunarodny rynok stran SEV’ (The international market of the CMEA) Voprosy Ekonomiki, 1980/4. (The journal is also published with one month’s delay in English as ’Problems of Economics’.)Google Scholar
  6. Botos, Katalin, Pénzügyek a KGST-ben (Finances in the CMEA), Közgazdasági és Jogi Könykiadó, Budapest 1978.Google Scholar
  7. Botos, Katalin, ‘A TR reális árfoly márdl’ (On the realistic exchange rate of TR), Közgazdasági Szemle, 1980/9.Google Scholar
  8. Botos, Katalin, ‘A KGST valutarendszeránek tovébbfeljlesztéséröl’ (On perfectioning the currency system of CMEA), Egyetemi Szemle 1981/1 (in English) Soviet Studies, 1982/2.Google Scholar
  9. Botos, Katalin; Patai, Mihály and Szalkai, István, Pénzügyeink és a nemzetközi gazdasági kapcsolatok (Public Finances and International Economic Relations), Közgazdasági és Jogi Könyvkiadó, Budapest 1980.Google Scholar
  10. Brabant, Josef van, ‘The TR — the Comecon Currency Controversy’, International Currency Review, 1971/1.Google Scholar
  11. Brainard, Lawrence, ‘CMEA Financial System and Integration’, in Marer, Montias: op. cit.Google Scholar
  12. Cvetkov-Golubarev, Cvetan, ‘Aspekti na usūvūrshenstvuvane planovoto formirane na kontraktnite ceni v ramkite na SZIV’ (Some aspects of the perfectioning of the planned formation of contractual prices in the CMEA), Vnsna Trgoviya, 1980/1.Google Scholar
  13. Chvojka, Petr. ‘Měnové vztéhy v integráci RVHP’ (Monetary relations in the CMEA), Academia, Prague 1979. An English language summary of main conclusions is found in his ’General problems of interdependence among individual components of the CMEA international monetary system’, Acta Oeconomica, Vol. 25, No. (3–4).Google Scholar
  14. Chvojka, Petr. ‘Podminky a metody plánovitého řizeni mezinárodniho trhu stétt RVHP: ’reálné’ přiřazováni peněz a zboži’ (Methods and conditions for the planned management of the market of CMEA countries), Politická ekonomie 1980/5.Google Scholar
  15. Csaba, László, ‘Planning and Finances in the Decade after the Adoption of the Comprehensive Programme in the CMEA’, Acta Oeconomica, Vol. 27. No (1–2) 1981.Google Scholar
  16. Csikós-Nagy, Béla, Általános és szocialista árelmélet (General and Socialist Price Theory), Kossuth Könyvkiadd, Budapest 1968.Google Scholar
  17. Csikós-Nagy, Béla, Bevezetás a gazdaságpolitikába (An Introduction to Economic Policy), Kossuth, Budapest 1969.Google Scholar
  18. Csikós-Nagy, Béla, Socialist Price Theory and Price Policy, Akadémiai Kiadó, Budapest 1975.Google Scholar
  19. Csikós-Nagy, Béla, ‘Adjustment to new world market prices’ Acta Oeconomica, Vol. 27 No (3–4) 1981.Google Scholar
  20. Daskalov, Pavel, ‘Nyakoi valutni aspekti na dvustrannite i mnogostrannite ikonomicheski otnoshenia na stranite of SIV’ (Some foreign exchange aspects of bilateral and multilateral relations of CMEA countries), Planovo Stopanstvo, 1980/6.Google Scholar
  21. (a) ‘Rolya i myasto na valutnite instrumenti za otsenka i stimulirovane na integratzionnite protzessi na stranite-chlenki na SIV’ (The role and place of foreign exchange instruments in the stimulation of the integration process of CMEA countries), Planovo Stopanstvo, 1981/3.Google Scholar
  22. (b) ‘Nyakoi aspekti na usūvūrshenstvūvaneto na valutnite instrumenti v protzessa na ikonomicheskogo sutudnichestvo v SIV’ (Some aspects of perfectioning the foreign exchange instruments in the process of CMEA economic cooperation), Finansi i Kredit, 1981/7.Google Scholar
  23. Dubrowsky, Hans-Joachim, ‘Zur Ausübung der Geldfunktionen durch den Transferablen Rubel (Thesen)’ (On the Development of the Monetary Functions through the TR — Theses), Wissenschaftliche Zeitschrift der Hochschule für Ökonomie ’Bruno Leuschner’, 1978/2.Google Scholar
  24. Dubrowsky, Hans-Joachim and Zschockelt, Wolfgang, ‘Tezisy o nekotorikh problemakh valutnofinansovikh otnosheniy mezhdu stranamichlenami SEV’ (Theses on some problems of monetary relations among CMEA countries), Paper presented at the international conference on CMEA finances, Sopron, Hungary, October, 1980.Google Scholar
  25. Ehlert, Wolfgang, ‘A KGST országok hitelkapcsolatai és a KGST bankok szerepe’ (Credit relations of CMEA countries and the role of CMEA banks), in A szocialista országok együttmiiködésének elvi es gyakorlati kérdései (Problems, principle and practice in cooperation among socialist countries), Közgazdasâgi és Jogi Könyvkiadó, Budapest 1978.Google Scholar
  26. Enev, Stoyan, (a) ‘Po vprosa za stabilnostta na kollektivnata valuta na stranite-chlenki na SIV (prevodnata ruble)’ (On the question of stability of the CMEA common currency — the TR). lkonomicheska Misl, 1980/1.Google Scholar
  27. (b) Niekotoriye aktualiye voprosy dal’neyshego sovershenstvovaniya valutno-finansovoy sistemy stran-chlenov SEV’ (Some topical questions of further perfectioning of the CMEA financial system), Paper presented at the international conference on CMEA finances, Sopron, October, 1980.Google Scholar
  28. Faluvégi, Lajos, Állami pénzügyek its gazdaságirányitás. (State finances and economic management), Közgazdasági és Jogi Könyvkiadó, Budapest 1977.Google Scholar
  29. Faluvégi, Lajos, Pénzügyeink a 70-es években (Finances in the seventies), Kossuth Könyvkiadó, Budapest 1980.Google Scholar
  30. Fekete, Jénos, ‘The crisis of the capitalist monetary system and the Hungarian economy’ The New Hungarian Quarterly, Vol 21 No 79, 1980.Google Scholar
  31. Geydarov, M.M., ‘Vazhniy instrument tovarno-denezhnogo mekhanizma’ (An important tool of the commodity-monetary mechanism), Dengi i Kredit, 1981/6.Google Scholar
  32. Hégelmayer, Istvén, ‘Gazdasâgi növekedésünk és a nemzetközi pénzügyek néhény összefüggése’ (Economic growth and some interrelationships in the international finances), Gazdaseg, 1976/3.Google Scholar
  33. Holzman, Franklyn, Discussion (of Brainard: op. cit.) in Marer-Montias, op. cit.Google Scholar
  34. Horowitz, Marcu, ‘Teoreticheskiye problemy tzenoobrazovaniya v torgovle mezhdu stranami-chlenami SEV’ (Theoretical problems of pricing in the trade among CMEA member-countries), Revue Roumaine des Sciences Sociales, Serie des Sciences Économiques, 1976/1.Google Scholar
  35. Kazandzhieva, Kina, ‘Valutno-kreditnie otnosheniya Vostok-Zapad i valutno-finansoviye otnoseniya stranchlenov SEV’ (East-West credit relations and monetary relations of CMEA countries), Paper presented at the 1980 Sopron conference.Google Scholar
  36. Kissné-Pavelcsék, Agnes, Nemzetközi ipari együttmiiködési politika a KGST-ben (The politics of international industrial cooperation in the CMEA), Kossuth Könyvkiadô, Budapest 1981.Google Scholar
  37. Konstantinov, Jury, (a) ‘Valutny kurs v ekonomicheskikh otnosheniyakh stran SEV’, Dengi i Kredit, 1981/2.Google Scholar
  38. (b) ‘Prevodny rubl v sisteme mezhdunarodnikh ekonomicheskikh otnosheniy’ (The TR in the system of international economic relations) — interview, Vneshnaya Torgovlya, 1981/6 (also available in English as ’Foreign Trade of the USSR’).Google Scholar
  39. (c) ‘Perevodny rubl v khozyaistyennom mekhanizme sotzialisticheskoy ekonomicheskoy integratzii’ (The TR in the economic mechanism of socialist integration), Planovoye Khozyaistvo, 1981/4.Google Scholar
  40. Levchuk, I.V., ‘Denezhny oborot i roi’ deneg pri sotzializme’ (Circulation and the role of money under socialism), Voprosy Ekonomiki, 1979/5.Google Scholar
  41. Luft, Christa, ‘Orgánické speti koordináce plánu s výuzivánim zbožne-peňeznych vztáhu v integrécni processu’ (The organic unity of the coordination of plans with the utilisation of commodity-monetary relations in the integration process), Finance a liver, 1981/9.Google Scholar
  42. Lyubsky, M.S., Sulyayeva, M.H. and Sastitko, V.M., Valutnie i kreditnie otnosheniya strap SEV (The foreign exchange and credit relations of CMEA countries), Nauka, Moscow 1978. ( The author of the cited part is M.S. Lyubsky).Google Scholar
  43. Marer, Paul, ‘The Mechanism and Performance of Hungary’s Foreign Trade, 1968–1979’ in P.G. Hare, H.K. Radice and N. Swain (eds.), Hungary — a Decade of Economic Reform, Allen and Unwin, London 1981.Google Scholar
  44. Mátrai, Mihály, ‘Pirmechanizmus — együttmiiködési mechanizmus’ (Price mechanism and cooperation mechanism) in Botos, Katelin (ed): A nemzetközi pénzügyek aktuális kérdései, (Topical issues in international finances), A Pénzügykutatási Intézet Tanulmányai, 1980/3.Google Scholar
  45. MIEP MSS (CMEA International Economic Research Institute of the World Socialist System), ‘Voprosy kompleksnogo razvitiya valutno-finansovikh otnosheniy stran-chlenov SEV na sovremennom etape’ (Questions of comprehensive development of the monetary relations of CMEA countries in the contemporary stage of development), Moscow 1981. ( Collective analysis presented at the 1981 Sopron conference. )Google Scholar
  46. Nazarkin, K.I., ‘Noviye gorizonty sotrudnichestva’ (New horizons for cooperation), Dengi i Kredit, 1981/2.Google Scholar
  47. Nosiadek, Grzegorz, ‘Miedzynarodowe organizacje ekonomiczne a wymienalnotć walut kraj5w RWPG’ (International economic organisations and the convertibility of the currencies of CMEA countries), Handel Zagraniczny, 1981/1.Google Scholar
  48. Ondráček, Mojmir, ’Üvérovy charakter emise převoditelného rublü v svétle rozijeni jeho penéznych funkcij’ (The credit-substance of the TR in the light of developing its money functions), Finance a Üvér, 1980/3.Google Scholar
  49. Pachta, Pavel, ‘Rozvoj spolupráce členských státû RVHP v oblastí neobchoních platu’ (The development of cooperation of the CMEA states in the field of non-commerical payments), Zahranični Obchod, 1980/7–8.Google Scholar
  50. Ptaszek, Jan, ‘Doswiadczenia i kierunki zmian systemu walutno-finansowogo’ (The lessons and the main lines of change of the functioning of the monetary system), Rynki Zagraniczne, 3. November, 1981.Google Scholar
  51. Pörzce, Oszkár, ‘A KGST országok valutáris-pénzügyi együttmüködése’ (Monetary cooperation of CMEA-countries), Unpublished dissertation at the Budapest University of Economics, March, 1979.Google Scholar
  52. Richter, Sándor, ‘Hungary’s Trade with CMEA Partners in Convertible Currencies’, Acta Oeconomica, Vol. 25, No (3–4) (1980).Google Scholar
  53. Shelkov, Oleg, O sokhranenii realnoy stoimosti perevodnogo rublya (On preserving the real value of TR), MIEP MSS, Moscow, 1979. ( Paper presented at the October, 1980 Sopron conference).Google Scholar
  54. Shiryayev, Yuri, Szocialista integráció os nemzetközi munkamegosztás (Socialist integration and international division of labour), Kossuth Kiad6, Budapest, 1981 (translated from the Russian original, published in 1979 ).Google Scholar
  55. Shmelyov, Nikolay, Sotzia/ism i mezhdunarodniye ekonomicheskiye otnosheniya (Socialism and international economic relations), Nauka, Moscow 1979.Google Scholar
  56. Špaček, Petr, ‘Neobchodni pláti a kursi Rady’ (Non-commerical payments and rates of exchange of the Council) Socialistické Ekonomické Integréce, 1979/1.Google Scholar
  57. Ujházy, Karol, ‘A beruházástervezás tökéletesítésének idöszerü kérdései Csehszlovekiában’ (Topical issues of perfectioning investment planning in Czechoslovakia) Közgazdaségi Szemle 1972/11.Google Scholar
  58. Vencovsky, František, ‘Mezinárodne ûvéry s jedné i s druhé strány’ (International credits from the one side — and from the other), Hospodárské Noviny, 1981/45.Google Scholar
  59. Vincze, Imre, A KGST nemzetközi valuta rendszere (The international foreign exchange system of the CMEA), Közgazdasági es Jogi Könyvkiadó, Budapest, 1978. ( Soon to be published in English by Akademiai Kiadb, Budapest. )Google Scholar
  60. Wiesel, Lvén, Wilcsek, Jenand A monetéris rendszer fej/ôdése ifs a konvertibilités (Development of the monetary system and convertibility), Kossuth Kiadd, Budapest 1978.Google Scholar
  61. Wiles, Peter, ‘On Purely Financial Convertibility’, in Y. Laulan (ed), Banking, Money and Credit in Eastern Europe, NATO Directorate of Economic Affairs, Brussels 1973.Google Scholar
  62. Zverev, A., ‘Kompleksnaya Programma i voprosy valutno-finansovogo sotrudnichestva stran SEV’ (The Comprehensive Programme and problems of monetary cooperation of CMEA countries), Vnesnaya Torgovlya, 1981/6.Google Scholar
  63. Zwass, Adam, ‘Money, Banking and Credit in the Soviet Union and Eastern Europe’ Eastern European Economies, Fall-Winter 1978/79.Google Scholar
  64. Zhivkova, Snezhana and Kazandzhieva, Kina, ‘Nyakoi aspekti na edinniya valuten kurs pri sotzializ- ma’ (Some questions of the uniform exchange rate under socialism), Finansi i Kredit, 1980/1.Google Scholar

Copyright information

© Wiener Institut für Internationale Wirtschaftsvergleiche (WIIW) (The Vienna Institute for Comparative Economic Studies) 1983

Authors and Affiliations

  • László Csaba
    • 1
  1. 1.Institute for World Economics of the Hungarian Academy of SciencesBudapestHungary

Personalised recommendations