The rouble crisis and Russian wheat export controls
The Russian government implemented a wheat export tax in February 2015 to reduce food inflationary pressures resulting from the rouble's dramatic devaluation. This article discusses the causes of the rouble's instability and volatility, and the effects of the export controls on domestic wh...
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| Veröffentlicht in: | Inter economics 2015-07, Vol.50 (4), p.227-233 |
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| creator | Götz, Linde Koester, Ulrich Glauben, Thomas Bulavin, Rudolf |
| description | The Russian government implemented a wheat export tax in February 2015 to reduce food inflationary pressures resulting from the rouble's dramatic devaluation. This article discusses the causes of the rouble's instability and volatility, and the effects of the export controls on domestic wheat and bread prices. Although such export taxes are appealing to governments due to their low financial costs, we show that their economic costs are substantial in the long run. We suggest desisting from such trade-oriented measures and instead helping consumers adapt to high food prices. |
| doi_str_mv | 10.1007/s10272-015-0547-x |
| format | Article |
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| subjects | Abwertung Agriculture American dollar Analysis Brot Central banks Consumers Crude oil prices Currency Economic Policy Economic theory Economics Economics and Finance Energy economics European Integration Export controls Export Restrictions Export taxes Exportsteuer Food prices Food products Foreign exchange rates Inflation International trade Labor Economics Prices Rubel Rubles Russland Social Policy Studies Taxation Transition economies Volatility Volatilität Weizen Weizenpreis Wheat |
| title | The rouble crisis and Russian wheat export controls |
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