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Structural Change in Foreign Trade of the CMEA Countries

  • Jan B. Gajda

Summary

This chapter presents the model of foreign trade for the seven East European members of the CMEA. Some specific problems of the CMEA foreign exchange are discussed: the dual currency (transferable rouble and dollar) system and their exchange rates into “valuta” currencies, insulation of domestic from the world market prices, and foreign debt and its approximation. The valuta exchange rates were found to follow predominantly the behavior of the strength of US $ measured against SDR. Exports are explained mainly from the supply point of view, an important element in a model oriented toward simulation and scenario analysis; imports are considered from the demand side.

Keywords

Exchange Rate Foreign Trade Export Price Domestic Currency Foreign Debt 
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Copyright information

© Springer-Verlag Berlin Heidelberg 1989

Authors and Affiliations

  • Jan B. Gajda

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