Munich Personal RePEc Archive

The Soviets monetary experience (1917 – 1924) through the perspective of the discussion on unity and diversity of money

Nenovsky, Nikolay (2015): The Soviets monetary experience (1917 – 1924) through the perspective of the discussion on unity and diversity of money.

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Abstract

The paper presents the evolution of monetary regimes and monetary reforms in the Soviet Union during the period following the seizure of power in October 1917 until the currency reforms carried out by the Soviet authorities in mid-1924. The studied period gives possibilities for reflection on the “diversity and complexity of monetary practices”, the currency competition and complementarity, the various ways of connecting the different monetary functions (measure, payment, exchange, store of value etc.). Of special interest are the relations between measure (accounting), and exchange (payments), and between large and small currency denominations.

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