Non-Monetary Transactions (NMTs) in Russia during 1990s

Diploma Thesis from the year 2004 in the subject Business economics - Investment and Finance, grade: 1,3, Reutlingen University, language: English, abstract: This paper analyzes non-monetary transactions (NMTs) in Russia during the 1990s. This work introduces the topic and provides a rather extensive review of the overall economic, political and legal situations. After a definition of the instruments and markets of NMTs, and a summary of the possible causes for NMTs, these causes are reviewed through empirical analyses. Based on identified causes of NMTs, an attempt is made to characterize the structure of non-monetary markets using attributes of financial markets. Market description is followed by the discussion of effects on the economy. The paper is concluded with a comparison to other countries and the most recent available information about NMTs in Russia.

Major results of this paper include an attempt of description and characterization of the markets of NMTs. Up to this point, mostly causes, their empirical evidence and their effects have been debated, without identifying any market structure. Further, empirical evidence to support theoretical causes is summarized and critically reviewed.