Indian currency rupee is depreciating rapidly against the US dollar and other foreign currencies. This paper analyses the major causes of this depreciation. It also discusses its cures.

The first stage of the plan for rescuing French banks in October 2008 rules that a special company owned by the State and the banks will borrow on the “markets” with the State warranty. The money collected will be lent to the banks so that they can finance economy. This is curious because...

This paper addresses the perspective of Hayek’s doctrine on monetary arrangements in the economy and his favorable argument for an international central bank over national central bank. I also discussed Hayek’s view on free banking (i.e. for the free issue of bank notes) that would enable...

This paper is looking into the causes of the GDP decline in Russia during 2008-2009 and the slow-down of the GDP growth during 2012-2013. The impact of the money supply on the GDP is discussed. Analogies are drawn with the crises in the USA: the Great Depression during 1929-1933 and the...

This paper analyzes the Eurodollar market, investigating the reasons for its expansion after 1973, and the consequences for monetary policy. In the first part of the paper, the issue of credit and money creation by offshore banks is considered. The nature of the liquidity creation process is...

Nous cherchons dans le sillage de travaux tels que Agénor (2004) ou Duttagupta et al (2004) à identifier les principales conditions que doit remplir au préalable une économie avant l’adoption d’un régime de flottement pur du taux de change. Ces dernières englobent le développement du...

This paper investigates the possibility of conducting an unconventional monetary policy of Quantitative easing (QE) at high interest rates using the example and experience of Russia. The Central Bank of the Russian Federation has raised the key interest rate on six occasions during the 12 months...

This is a theoretical analysis of the role of money and other less liquid financial assets in the financing of the private sector of a market economy. It is concerned, basically, with the functional relations between households, firms, banks and other financial institutions, and with those...

The financial turmoil that the 2007 subprime debacle of the US set into motion has raised a welter of puzzling questions for the policy makers across the world. The position seems all the more confusing in the Muslim world where the fast expanding Islamic finance operates in competition with the...