Cashless Society and de-Dollarization in Ukraine. What is Missing from Present Discussions?
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 i...
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| Format: | Article |
| Language: | English |
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National Bank of Ukraine
2016-12-01
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| Series: | Visnyk of the National Bank of Ukraine |
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| Online Access: | https://journal.bank.gov.ua/en/article/2016/238/01 |
| _version_ | 1818920262189449216 |
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| author | Marko Skreb Kostiantyn Khvedchuk |
| author_facet | Marko Skreb Kostiantyn Khvedchuk |
| author_sort | Marko Skreb |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-12-20T01:18:57Z |
| format | Article |
| id | doaj.art-8ae12613f9784460b702bcc2d30eec50 |
| institution | Directory Open Access Journal |
| issn | 2414-987X |
| language | English |
| last_indexed | 2024-12-20T01:18:57Z |
| publishDate | 2016-12-01 |
| publisher | National Bank of Ukraine |
| record_format | Article |
| series | Visnyk of the National Bank of Ukraine |
| spelling | doaj.art-8ae12613f9784460b702bcc2d30eec502022-12-21T19:58:30ZengNational Bank of UkraineVisnyk of the National Bank of Ukraine2414-987X2016-12-0123861210.26531/vnbu2016.238.006Cashless Society and de-Dollarization in Ukraine. What is Missing from Present Discussions?Marko Skreb0Kostiantyn Khvedchuk1Canada-IMF Capacity Building ProjectNational Bank of UkraineThe 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.https://journal.bank.gov.ua/en/article/2016/238/01cash demanddollarizationnegative miragehysteresiscashless economy |
| spellingShingle | Marko Skreb Kostiantyn Khvedchuk Cashless Society and de-Dollarization in Ukraine. What is Missing from Present Discussions? Visnyk of the National Bank of Ukraine cash demand dollarization negative mirage hysteresis cashless economy |
| title | Cashless Society and de-Dollarization in Ukraine. What is Missing from Present Discussions? |
| title_full | Cashless Society and de-Dollarization in Ukraine. What is Missing from Present Discussions? |
| title_fullStr | Cashless Society and de-Dollarization in Ukraine. What is Missing from Present Discussions? |
| title_full_unstemmed | Cashless Society and de-Dollarization in Ukraine. What is Missing from Present Discussions? |
| title_short | Cashless Society and de-Dollarization in Ukraine. What is Missing from Present Discussions? |
| title_sort | cashless society and de dollarization in ukraine what is missing from present discussions |
| topic | cash demand dollarization negative mirage hysteresis cashless economy |
| url | https://journal.bank.gov.ua/en/article/2016/238/01 |
| work_keys_str_mv | AT markoskreb cashlesssocietyanddedollarizationinukrainewhatismissingfrompresentdiscussions AT kostiantynkhvedchuk cashlesssocietyanddedollarizationinukrainewhatismissingfrompresentdiscussions |