Factors Behind the Russian Ruble Depreciation

Urbanovský, Tomáš

doi:10.1016/s2212-5671(15)00827-8

Cited by 6 publications

(8 citation statements)

References 7 publications

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“…Moreover, because of sanctions and the fact that Russian companies had debt in USD, the demand for USD has grown in Russia, leading to a depreciation of the rouble (from 35 rub/USD to 65 rub/USD). It should be noted that it follows findings of [4].…”

supporting

confidence: 77%

“…Notes: "Y" stands for "yes" and means that the variable is used in the paper, while "N" stands for "no" and means that the variable is not integrated in the model. In [4] these variables are also integrated: gas, gold, stocks, euro against U.S. dollar exchange rate. In [3], regulated rates charged for electric power, gas, and railroad transportation are also integrated.…”

mentioning

confidence: 99%

“…Results. In light of the above, [4] is using most variables in his model (seven in total). For which results?…”

mentioning

confidence: 99%

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Contemporary Literature Review of the Russian Rouble Determinants

Bali¹

2021

EPI

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This short literature review’s goal is to examine available papers regarding the study of Russian Rouble determinants. For purpose of analysis, 35 articles were studied among which 22 were selected, for a total of 414 pages shelled. This work analyzes most recent empirical articles, in order to identify factors responsible for the Russian currency fluctuations. Different models will be compared to learn if some are more effective than others, from basic Linear regression to Structural vector autoregressive, through Ordinary least squares or Vector error correction models. Moreover, a very special and particular attention will be paid to variables used. Which combinations of variables are used to study factors influencing the Russian currency? While it seems vital to include oil prices, interest rate, and consumer price index, is it important to have them all together in the same model? Are results among papers similar? In addition, would it be necessary to add variables such as GDP, gold price, gas price, M2 aggregate or sanctions? However, this paper will compare data from each model and try to find out if there is one best way to study the Russian currency determinants.

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confidence: 77%

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confidence: 99%

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Contemporary Literature Review of the Russian Rouble Determinants

Bali¹

2021

EPI

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“…Iran is not alone in its effort to establish an alternative to trading oil and other commodities in dollars. In the past, Russia also expressed interest in establishing a Russian stock exchange which would allow oil, gas, and other goods to be paid for in rubles in 2006 (Urbanovsky, 2015). However, this is not a new phenomenon that a country decides to change the exchange rate anchor as Russia put an end to its dollar peg in 2004 and opted to move towards a euro alignment.…”

Section: Theoretical Background and Related Literaturementioning

confidence: 99%

Substitution of Anchor Currency: Challenges for Trade Between Iran and Its Major Trading Partners

Zahmani

Jovović

Redžepagić

et al. 2021

Technological and Economic Development of Economy

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The aim of the paper is to find out whether euro is a convenient substitution for U.S. dollar as an anchor currency for Iranian rial and whether this replacement would affect Iran’s international trade positively. We explore these effects via Optimum Currency Area (OCA) theories using generalized least square from 2000 to 2018. Based on OCA index, euro would be a good substitution for U.S. dollar as an anchor for Iranian rial. In addition, gravity model and Generalized Method of Moments estimation confirm that substitution of U.S. dollar by euro would improve bilateral trade between Iran and its major trade partners especially the European Economic and Monetary Union (EMU). Furthermore, we confirm that a basket containing main currencies (euro, U.S. dollar, yuan, Russian rubble) would be more efficient than a single currency anchor however euro should be prominent in the basket. Such a change of anchor could positively contribute to reduction of transaction costs, diversification of external risk, rise of mutual trade exchanges between Iran and the EMU or the EU and consequent economic growth of trade partners. The paper contributes to the existing literature by comprehensive methodological approach how to identify an appropriate anchor currency.

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“…In 2018, a number of German e-commerce giants such as Otto, Quelle and Westwing ceased their activity in Russia due to reduced purchasing power of consumers and significant revenue drops after converting funds from rubles into euros (East-West Digital News 2018). This latter phenomenon resulted from serious Russian ruble depreciation after 2014 (Urbanovsky 2015). The notable exception is Aliexpress.com, which has been one of the leaders on Russian online market, and will be discussed in more detail in the section on cross-border shopping.…”

Section: Russian E-commerce Retailersmentioning

confidence: 99%

Digitalization of Consumption in Russia: Online Platforms, Regulations and Consumer Behavior

Gurova

Morozova

2020

The Palgrave Handbook of Digital Russia Studies

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This chapter offers an overview of the main aspects of digital consumption in Russia with an emphasis on the late 2010s. It also sheds light on the tendencies that digitalization of the sphere of consumption has brought to Russian retail and consumers. In particular, we look at how digitalization has changed retail trade; what kind of digital retail platforms gained popularity in Russia; how Russian retailers utilize data related to consumption; how cross-border internet trade has been developing and how it has been regulated; and what the profile is of the typical online consumer. We also look at platforms and practices of online exchange and the sharing economy. The chapter is based on the analysis of scholarly literature on digital consumption, marketing research data and media publications to identify the current trends in consumption. It addresses the question of what challenges and opportunities the digitalization of consumption has brought about for Russia.

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Factors Behind the Russian Ruble Depreciation

Cited by 6 publications

References 7 publications

Contemporary Literature Review of the Russian Rouble Determinants

Contemporary Literature Review of the Russian Rouble Determinants

Substitution of Anchor Currency: Challenges for Trade Between Iran and Its Major Trading Partners

Digitalization of Consumption in Russia: Online Platforms, Regulations and Consumer Behavior

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