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A penny is a loan - Savluk M.I.


A large-scale Groshov reform was carried out at 90 rocky in Ukraine’s Bula, as for its character, it could be brought to the category of new structural reforms. To find the most characteristic наї features: bagachatinnikova zumovlenist and bagatotsіlovove directly; trivial period performed; the catching of timshy pennies like the transitional and the third-party znetsinennya; development in the course of reform of the new mechanism of monetary regulation; especially social and direct reform of that and.

Bagachatinnikov’s sense of the penny reform in Ukraine was due to the fact that, apart from economic reasons, the bullets could bring about political support. Ukraine since 1991 It became an independent power and for a new status of the guilty party of the mother of the mother of money and the power of the penny system, which is why I have to protect the circulation and regulation of the turnover of national pennies. Without a mistake, a year’s message would be bad news about political self-sufficiency and economic independence of Ukraine. After the entry into the warehouse of the SRSR, Ukraine was backed up without a hairy emisy center,

And the ruble-denominated pennies have risen, the emissary has gone from recession to the Russian Federation. Complying with these thoughts on the normal security of consumer demand is a penny in circulation and the implementation of the Ukrainian Independent Economic, Financial and Monetary Policy did not have a lot of money.

Bagatotsilov’s direct recognition of the groshoy reform was due to the fact that there was little to do with three measures:

- adjust the national penny and the penny system as an attribute of independence and mechanism due to the independence of the Ukrainian state;

- to ensure the stability of national pennies on the river, sufficient to stimulate economic and social development of the country;

- formulate and introduce new methods and tools to regulate a penny turnover and a penny market, adequate to the needs of the market economy.

Such a bagacy character and special reforms carried out signified the importance of trial and bagability.

Dovgotrivival reform. The reform in history was born 1992. Vipom at the Gotivka Obig coupon-carbohydrate bagatorovoy vikoristannya, and ended at Veresnі 1996 p. a pass in obig hryvnia; Bereuchi, respectfully, live behind the clock, come in, you can see the reform process:

- the first etap (sich - leaf fall 1992 p.), for which a coupon-carbovanets and a secure function are circulated in the bulldozer. On the whole, this is the order of Ukraine, having distributed the form of power and the mechanism of self-sustainability, you need to secure yourself and consume a turnaround in money;

- another one (fall of 1992 - sickle of 1996 p.), for which the Ukrainian Carbovanets are left behind in circulation, want one hour, the currency, as well as the other way to save money, payment;

- the third etap (Sunday 1996 p.), the groshova reform was successfully completed and introduced into the circulation of the permanent groshin single hryvnia. Completed Reform at Veresni 1996 p. the bulletin was prepared by the successes of another type of country: long-term careers, the most important things in the world, the significant transformation in the market ambushes of the economy, and the practice of new methods of regulation.

The acquisition of timothy pennies and their first znachenie znetsinenya not blundered by the projected and carried out warehouse penny reform1. Vipusk coupon-carbohydrate bagatoza coryza buv vimushenim croc, we’ll entail the necessary security will need to turn a peanut butter, fragments veresnya 1991 p. The Central Bank of the Russian Federation ceased to receive ruble-denominated rubles in Ukraine, and the nominal foreign currency turnover became more clearly visible to the inflated, and scholarship was incurred. Shchob uniquely "Gotovkovo krizi", and the bulletin is accepted rishennya about the issue of coupon-carbovants.

There’s a bit of a mess, but I’m going to get coupon-karvanovets “m'yako”, steadily replace the ruble, save secure stability, and let the last term of the penny, like an hourly penny, not to digest 4. In fact, the protesters were barking for the rest of the script. Already in 1992 coupon-carbovanets “locking up” the entire Gothian turnover, and the ruble buv will increase the volume of profits. Then the ruble was sold after servicing all the bezgotovki turnover right up to the fall of 1992 p., Which negatively absorbed the stability of the Gotovka coupon-carbovanzion, and it sprinkled it with shvidkoy znetsіnennyu.

At the leaf fall 1992 p. Decree of the President "On reform of the penny system of Ukraine" coupon-carbovanets not having been replaced by a constant currency, but wider than having been put into circulation beyond the scope of a wider transfer to the bezgotivka sphere. From now on, becoming one in the territory of Ukraine, ofitsіynym of payment for payment under the name "Ukrainian carbovanets." Tim himself Bulo in the main version of the first zadavannya groshovo reform with three, meaning vishche.

Having kept at their disposal the random mechanism of time-consuming pennies, the department and the NBU vikroistali yogo on duty for the implementation of their own monetary policy. For two rockies (1992-1993), the mass of pennies in circulation for the M2 aggregate grew more and more than 240 times. Here’s how to achieve the goal of mobilizing significant financial resources to cover overhead budget gadgets due to unimported economic policy. Amazed at the cost of hyperinflation, it has become a characteristic sign of penniless reform in Ukraine, and we can take a look at the warehousing element, fragments through some bullets that are fraught with all pennies and are protected by another reform.

Creation of a new ((market) mechanism of monetary regulation was manifested by the characteristic peculiarity of the penny reform in Ukraine for two reasons:

- until the ears of reform such a mechanism in Ukraine did not blame;

- for the advancement of hyperinflation and the transition to an anti-inflationary policy, it would be better to learn more effective monetary regulation tools.

I will look at the whole situation on the other - the preparation - this reform has been carried out, almost from 1994 p., There is a great deal of technical methods and instruments of anti-inflation, currency, currency, currency in bank practice, such as monetary instruments, such as the policy of regional interest, the provision of reserves, the policy of refinancing, operations on the credit market and that. 1994-1995 pp. These methods and tools were widely tested in the NBU for the introduction of inflation, which led to a change of minds for the completion of the reform in 1996. Yakraz on the basis of the National Bank of Ukraine is to enter into stable stability of the hryvnia in the period of reform.

There is no uniqueness of the penniless reform in the Ukrainian social aspect. Yak vidomo zi svіtovo practice, preparation and implementation of be-yako penny reform in the vimaga of additional financial vitrates, so much shifted to the shoulders of a wider population.

In Ukraine, at the final stage, at the time of launching in the obig hryvnias, a denomination was carried out for the following 1: 100,000 all indications, increased supply of pennies (ready and unpaid expenses, all non-refundable incomes stock of pennies and rozmіru of streaming incomes. Such proportions are obmіnu, as it was meant food, Bula vibrana is not vipadkovo - there vіdpovіdala іvnyu іnflyatsії for 1991-1996 p. All of this was done by giving a talk to our analysts about our non-confessional, prosorious, socially fair character. Prototype in such assessments does not cover the burdens, as the population on the first and other stages of reform meant. On a previous note, we wish to protect our populations, save money in the Saving Bank, and not on indexing the inflation. When carried out denomination at the time of 1996 p. most of them have overdone at the small size.

Yakbi zi zashchadzhennya boules are always indexed, then carry out the reform in 1996 p. I happened to be bi-like in English. Even at that time in Ukraine, having appeared in song chorus of “new Ukrainians”, they piled up significant stocks of pennies in speculative operations, in tinny business, through the illegally closed investment price. A part of such stocks of pennies happened to be confiscated in the course of the reform, having shifted the main load on the shoulders of the owners. Such a reform is not possible if it were called something inconsequential, but then there was justified social justice.

From now on, with its reform Ukraine has more than once affirmed the rule of concession for the main financial tractor, bound with reform, on the shoulders of the wide faiths of the population. Too bad, the trials of stagnation in the economy of penniless reform do not give rely on those who are more faithful to the population to win the second-generation wigras, who depend on the pennies of pennies. Moreover, the amount of pensions for pensions and salaries paid in such a way as to allow for stable reform of the hryvnia, to pay attention to the largest groups of the population, was lost during the reform process.


1. Inflation - it’s supernaturally socially and economically more appealing, which can be found in the trivial and the twentieth znachenny znachenny pennies from the outside worldly growth of the masai in circulation. The basic form of ля inflation ’and вид вид вид рост з од ц ц,,, д д д д д, ї є є є є є є ва є ва ва ва і товар товар goods and the devaluation of national pennies.

2. Інфляція - the whole three-way process, what’s the first stage, not so much as not so much as the price, but rather in vain for the economy. In the first place, this is the growth of the propositional pennies of the transfer of cash, the price is insignificant (up to 5% per share), but the demand is higher. Vaughn is positively thirsty for economic growth. At the upcoming pace, the rate of growth will accelerate, approaching the rate of growth of pennies and can bring them together. Such an inflation is called an open door, but peace and a break in the range of 5-20% per river. Vaughn mother can be positive, so negative negative energy saving. Pislya tsyogo get repaired etapi gallopuyucho інфляції (20-50% on the river) and gіiperіinflyatsії - ponad 100% on the river. The skin of this type of economy is bearing the roof for the economy and the social sphere.

3. Dependently on that, from the side of the marketplace conjunction there is a vise at the market price, two kinds of inflation are visible - inflation and vitality. Persha from them to be provoked by officials, scho to form on the side of the proposition goods, and the other - on the side to drink on a comrade.

4. Іnflyatsіya vimіryuєtsya troma kinds pokaznikіv: іndeksom spozhivchih (rozdrіbnih) tsіn; Yandex price on the place of virobnitztva (wholesale); GDP deflator.

5. Subjects of the reasons for recognizing the possibility of their form on more than one penny (monetary reasons) and on more than one reason (vitrious reasons). Monetary reasons due to liberal monetary policy for the budget financing of budget deficit, growth of borrowing and distribution. Vitratn reasons for the need for vitrats for virobnichty and monopoly virobnitstva and pracі. When you see it, you see it closely intertwined, on a daily basis, get angry in one thing - liberalization of the sovereign monetary policy and growth on the basis of the proposition of pennies, without which there is no need for any other kind of material.

6. Inflation is critical, the point is that it is difficult to economically and socially monitor the situation: ruining the high potential, low cost and high frequency, low cost of the high and low cost, Tom dіyova antiіinflyatsіyna polіtika powers і priority і guilty to protect the age of pennies.

7. The inflationary process in Ukraine has developed in many respects due to the prevailing laws governing to hyperinflation. Zrostannya price is provocatively more expensive, as well as monetary officials. Protecting the key role of the "Roskruchuvannі" інфляції відігравала is occupied by the liberal monetary policy of the department and the NBU. Lishe pislya transition in 1994 p. Before the anti-inflation policy, the inflation rate has declined. All the same, one thing is that inflation is a monetar phenomenon.

8. Groshov’s reform є with a storage element of anti-inflation policy and straightforward integration of money in the grocery sector and the elimination of monetary and economic changes for stable pennies.

9. Groshova’s reform in Ukraine, which ended in 1996 p., Owing to its character, lay down to the latest, but structural, reforms, won about five rockets (since 1992 - spring of 1996) and secured the creation of a new groshny system, form pidtrimannya has become penniless and regulation of penniless turnover, adequate to the minds of the market economy.

Self-control power

1. Give a clear understanding of inflation. What is the meaning of understanding the interpretation of inflation?

2. Chi є distribution in the treating days ф inflation keys ан coins and coins?

3. What is the critical point for developing the inflation process?

4. Why do you believe the reasons for inflation? Why M. Fridman vvazhaє, what І ля ля ля ск ск ск зав зав жд жд є є є monetary phenomenon?

5. What is all kind of price н ф інфляцією? What is the name of inflation to the price?

6. What is the reason for galloping, galloping and hyperinflation?

7. Do you expect inflation to negatively impact the economy?

8. Why in Ukraine did the inflation form form stagflyatsii?

9. What are the features of inflation in Ukraine in the 90th rock?

10. Yaku role vidigra budget deficit in the development of inflation?

11. Give a clear understanding of the penny reform?

12. Yakı see the penny reforms Do you know?

13. What are the main features of the penny reform in Ukraine?