Abstract
Since its introduction in Mauritius in 1849, the currency board as a form of monetary institution has generally been neglected in the economics literature. This is probably due to the fact that currency boards were mainly adopted in relatively small and unimportant economies. In recent years, the situation has changed. Argentina’s readoption of the currency board in 1991 and its subsequent impressive economic growth record has
contributed to its credibility as a useful monetary system. Its subsequent adoption in Estonia, Lithuania, and Bulgaria further indicates its increasing popularity. Indeed, during the recent global financial turmoil, the currency board had been prescribed for the battered economies of Russia and Indonesia
contributed to its credibility as a useful monetary system. Its subsequent adoption in Estonia, Lithuania, and Bulgaria further indicates its increasing popularity. Indeed, during the recent global financial turmoil, the currency board had been prescribed for the battered economies of Russia and Indonesia
Original language | English |
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Title of host publication | Regional and Global Capital Flows: Macroeconomic Causes and Consequences |
Editors | Takatoshi ITO, Anne O. KRUEGER |
Publisher | University of Chicago Press |
Chapter | 7 |
Pages | 233-259 |
Number of pages | 27 |
ISBN (Print) | 0226386767 |
Publication status | Published - Jan 2001 |
Externally published | Yes |
Publication series
Name | NBER-East Asia Seminar on Economics |
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Publisher | NBER |
Volume | 10 |