Prospects for dedollarization of the Russian economy

Abstract

The economists have so far paid little attention to the issues of the dollarization of the Russian economy and its financial system. This is inconsistent with the importance of the problem. As part of the solution of the problem of dedollarization the article proposes a proactive approach that involves, in addition to macroeconomic stabilization, changing prudential norms that regulate the banking sector, measures of institutional and fiscal nature which would increase the cost of foreign currency financial intermediation.