All posts by Marek Dąbrowski

Marek Dąbrowski

About Marek Dąbrowski

Dr Marek Dąbrowski is a non-resident scholar at Bruegel in Brussels, a Professor at the Higher School of Economics in Moscow, and a co-founder and fellow at CASE — Centre for Social and Economic Research in Warsaw. Since the end of the 1980s, he has been involved in policy advice and research and in research projects related to monetary and fiscal policies, growth and poverty, currency crises, international financial architecture, perspectives of European integration, European Neighbourhood Policy and the political economy of transition. He has also worked as a consultant for the EU, World Bank, IMF, UNDP, OECD and USAID projects. He is the author of several academic and policy papers and is the editor of several publications.

The Deep Roots of Currency Crises in the Former Soviet Union

Since the end of the 1980s, when the centrally planned Soviet economic system entered the final phase of its agony, at least five rounds of region-wide macroeconomic turbulence (which led to currency crashes) have been recorded. These include: the collapse of the Soviet monetary system (1989-1993), monetary instability and high/hyperinflation in the newly established successor states of the former Soviet Union (FSU) (1992-1995), the Russian and Commonwealth of Independent States (CIS) financial crisis of 1998-1999, fallout from the global financial crisis of 2007-2009 and the most recent crisis of 2014-2016. Furthermore, some countries have experienced individual currency crises, such as Belarus in 2000 and 2011.  Continue reading The Deep Roots of Currency Crises in the Former Soviet Union