Indian Journal of Science and Technology

Abstract

On the basis of archive materials,the article attempts to study the institutional practice in the history of money circulation development in Crimea in the context of conducting a number of economic experiments. We have studied the historical development of the institution of money and its impact on the monetary policy formation in Crimea since the joining of Crimea to Russia in 1783 until the 1917 revolution and have come to a conclusion that the process of development and formation of the money circulation in Crimea was accompanied by a number of economic experiments of institutional nature and demonstrating the regularities of historical and economic transformations. The most important role in the monetary policy formation in the region belongs to the institution of money. The problematics under consideration in part of understanding the money circulation peculiar features, depending on the historical period of initiation, is of undoubted interest for contemporary economists and experts in the field of the monetary policy of Russia.
Keywords: Crimea, Currency, Economic History, Institutions, Institution of Money