Committee of the German Baltic Parties Committee of the German Baltic Parties The Committee of the German-Baltic Parties (, ADP) was an alliance of Baltic German political parties in Latvia during the inter-war period. Its members included the German-Baltic Democratic Party, the German-Baltic Progressive Party, the German-Baltic Reform Party, the German-Baltic People's Party, the German-Baltic Integration Party, the German-Baltic State Party and the Voters Association of Mitau. The alliance was established in early 1920 as a successor to the National Committee. won six seats in the 1920 Constitutional Assembly elections. It retained its six seats in the 1st Saeima after the 1922 elections, but was reduced
Currency substitution displaced by a stable currency. At the beginning of this process, the store-of-value function of the domestic currency is replaced by the foreign currency. Then, the unit-of-account function of the domestic currency is displaced when many prices are quoted in a foreign currency. A prolonged period of high inflation will induce the domestic currency to lose its function as medium of exchange when the public carries out many transactions in foreign currency. Ize and Levy-Yeyati (1998) examine the determinants of deposit and credit currency substitution, concluding that currency substitution is driven by the volatility of inflation and the real exchange