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The Currency Board in Estonia, Lithuania and Bulgaria: Comparative Analysis

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  • Nikolay Nenovsky

Abstract

The accent is put on the institutional and functional characteristics of the three currency boards as well as on the historical and political context of their implementation. The tasks of the investigation can be summarized down to two: descriptive – systematizing and summarizing the facts concerning the functioning of the three currency boards; theoretical – the advancement of some hypotheses concerning the functioning of the currency boards. Special attention is paid to the “automated mechanism” of the currency board as an advantage compared to the traditional central bank.

Suggested Citation

  • Nikolay Nenovsky, 2001. "The Currency Board in Estonia, Lithuania and Bulgaria: Comparative Analysis," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 24-45.
    • Handle: RePEc:bas:econth:y:2001:i:3:p:24-45
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    References listed on IDEAS

    as
    1. Stanley Fischer, 2001. "Exchange Rate Regimes: Is the Bipolar View Correct?," Journal of Economic Perspectives, American Economic Association, vol. 15(2), pages 3-24, Spring.
    2. repec:zbw:bofitp:1999_006 is not listed on IDEAS
    3. K. Hristov & Nikolay Nenovsky, 2001. "The Nonorthodox Currency Boards: The Case of Bulgaria," Post-Print halshs-00260074, HAL.
    4. Mr. Wayne W. Camard, 1996. "Discretion with Rules? Lessons from the Currency Board Arrangement in Lithuania," IMF Policy Discussion Papers 1996/001, International Monetary Fund.
    5. Mr. Adam Bennett, 1993. "The Operation of the Estonian Currency Board," IMF Policy Discussion Papers 1992/003, International Monetary Fund.
    6. Atish R. Ghosh & Anne-Marie Gulde & Holger C. Wolf, 2000. "Currency boards: More than a quick fix?," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 15(31), pages 270-335.
    7. Nikolay Nenovsky, 1999. "Une économie en transition a-t-elle vraiment besoin d'une Banque Centrale? (la caisse d'émission en Bulgarie)," Post-Print halshs-00260095, HAL.
    8. Adam G. G. Bennett, 1993. "The Operation of the Estonian Currency Board," IMF Staff Papers, Palgrave Macmillan, vol. 40(2), pages 451-470, June.
    9. repec:zbw:bofitp:1999_009 is not listed on IDEAS
    10. Mr. Hernán Cortés Douglas & Mr. Richard K. Abrams, 1993. "Introduction of a New National Currency: Policy, Institutional, and Technical Issues," IMF Working Papers 1993/049, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    JEL classification:

    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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