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Confiance et ajustement dans les régimes d'étalon-or et de caisse d'émission

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  • Jean-Baptiste Desquilbet
  • Nikolay Nenovsky

Abstract

It is often maintained that currency boards and gold standards are alike in that they are stringent monetary rules, the two basic features of which are high credibility of monetary authorities and the existence of an automatic adjustment (non discretionary) mechanism. This article includes a comparative analysis of these two types of regimes ( 1) from the perspective of the sources confidence, namely convertibility, endogeneity and the international context, and ( 2) looking at the operation of the adjustment mechanism, more specifically the financial environment, automatism, and asymmetry.

Suggested Citation

  • Jean-Baptiste Desquilbet & Nikolay Nenovsky, 2005. "Confiance et ajustement dans les régimes d'étalon-or et de caisse d'émission," Mondes en développement, De Boeck Université, vol. 130(2), pages 77-93.
    • Handle: RePEc:cai:meddbu:med_130_0077
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    1. E. V. K. Fitzgerald & Frances Stewart, 1997. "Editors' introduction," Oxford Development Studies, Taylor & Francis Journals, vol. 25(1), pages 5-10.
    2. Marie-Thérèse Camilleri Gilson, 2002. "Policy Pre-Commitment and Institutional Design: A Synthetic Indicator Applied to Currency Boards," OECD Economics Department Working Papers 330, OECD Publishing.
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    5. Nikolay Nenovsky & Yorgos Rizopoulos, 2004. "Peut-on mesurer le changement institutionnel du régime monétaire ?," Revue d'Économie Financière, Programme National Persée, vol. 75(2), pages 17-36.
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    11. Uche, Chibuike Ugochukwu, 1997. "Bank of England vs the IBRD: Did the Nigerian Colony Deserve a Central Bank?," Explorations in Economic History, Elsevier, vol. 34(2), pages 220-241, April.
    12. J.B. Desquilbet & Nikolay Nenovsky, 2003. "Exploring the Currency board mechanics'. A basic formal model," Post-Print halshs-00259817, HAL.
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    Cited by:

    1. Souleymane NDAO & Nikolay Nenovsky, 2020. "External Dependence of the African Franc CFA zone. Empirical Investigations on Money Supply Process," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 3, pages 357-367, September.
    2. Moustapha Aman, 2020. "Currency Board enjeux, mécanismes et limites," Working Papers hal-02975186, HAL.

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