A Common Currency for Belarus and Russia?

Taxation, Corruption and the Exchange Rate Regime

“…I therefore set b = 0 in what follows. 13 This implies that I cannot distinguish between a very tight peg, such as a currency board, and full dollarization. While the former, in principle, implies at least some seigniorage revenue as long as the anchor currency's rate of in ‡ation is positive, this is not the case in the latter case.…”

“…Instead, they might be based on regional anchor currencies which are themselves subject to pressures that result in relatively high in ‡ation. This case is relevant for some countries of the former Soviet Union, contemplating to peg to the Russian ruble (Gulde et al 2004), or African nations that might consider joining a monetary union with, say, Nigeria (Masson and Pattillo 2005). The paper …nds that such a pegs to regional currencies will not necessarily improve the institutional quality in the pegging country.…”

“…While it is theoretically possible that the anchor country transfers seigniorage revenue to the pegging country, this is not observed in reality(Williamson 2006). 13 This may of course be di¤erent for a country that unilaterally pegs to another developing or transition country. Since most pegs are to the dollar or the euro, however, I neglect this case.…”

Union of the Comoros

“…L'amélioration de l'administration fiscale et la simplification de la réglementation relative aux entreprises ont donné lieu à un accroissement rapide et durable des recettes fiscales en Géorgie. L'immatriculation des contribuables a plus que doublé entre 2005et 2008(OCDE, 2015. La simplification des déclarations fiscales et la création rapide du système de transmission des documents par voie électronique s'est en effet traduit par une nette amélioration du respect des obligations fiscales.…”