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oapen-20.500.12657-267102022-04-26T12:39:00Z The Stability of Currency Boards Stukenbrock, Kai Argentina Boards Currency Currency Board Currency Crisis Estonia Exchange Rate Foreign-Currency Debt Hong Kong Lithuania Stabilitätspolitik Stability Stukenbrock bic Book Industry Communication::J Society & social sciences::JP Politics & government bic Book Industry Communication::K Economics, finance, business & management::KC Economics::KCA Economic theory & philosophy bic Book Industry Communication::K Economics, finance, business & management::KC Economics::KCB Macroeconomics::KCBM Monetary economics bic Book Industry Communication::K Economics, finance, business & management::KC Economics::KCZ Economic history The 1990s saw a revival of the currency board system, and proponents have advocated it as an easy-to-set-up exchange rate arrangement providing effective stabilization of the economy. However, the experience of Argentina has highlighted the risks of having a currency board. This study presents both the potential benefits, as well as the risks, of having a currency board by examining the stability of the currency board arrangement and identifying factors affecting the stability. The analysis is based on second-generation currency crisis models, extended to incorporate currency-board specific features and to account for particular aspects often found in currency-board economies. 2019-01-10 23:55 2018-12-01 23:55:55 2020-01-15 13:47:02 2020-04-01T11:19:00Z 2020-04-01T11:19:00Z 2018 book 1003350 OCN: 1083018451 9783631756997 http://library.oapen.org/handle/20.500.12657/26710 eng cege-Schriften application/pdf n/a 1003350.pdf Peter Lang International Academic Publishers 10.3726/b14167 10.3726/b14167 e927e604-2954-4bf6-826b-d5ecb47c6555 9783631756997 8 238 Bern open access
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The 1990s saw a revival of the currency board system, and proponents have advocated it as an easy-to-set-up exchange rate arrangement providing effective stabilization of the economy. However, the experience of Argentina has highlighted the risks of having a currency board. This study presents both the potential benefits, as well as the risks, of having a currency board by examining the stability of the currency board arrangement and identifying factors affecting the stability. The analysis is based on second-generation currency crisis models, extended to incorporate currency-board specific features and to account for particular aspects often found in currency-board economies.
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