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The scope of research of this paper covers the monetary reform undertaken by the Soviet Union in December 1947. The target is to show that despite the Marxist statement of withering-away of money at the first stage of communist formation, the Soviet state attached a great importance to the development of the nation’s institution of money. Besides, the monetary system of the USSR, as envisioned by the country's leadership, was expected to become the blueprint for the global social currency system as an alternative of the Bretton Woods system of monetary management. The author concludes that despite all efforts of the Soviet leadership to reform the monetary system, its effect was quite limited in the context of economic efficiency and had not lead to the establishment of the global social currency system. The survey method offers deductions and inductions, organic continuity of discussion, etc. The monetary system of the country offers the field of the corresponding results’ application. Keywords—money; monetary reform; currency assets; international monetary system; national economy

proceedings of the 3rd international conference on judicial, administrative and humanitarian problems of state structures and economic subjects (jahp 2018)

Foreign Policy Reasons and Economic Effect of the 1947 Monetary Reform in the USSR