Macroeconomic Performance of Currency Boards in Transition Economies
AbstractThe link between the exchange rate regime and macroeconomic performance has always been a debatable issue in international economics. This paper takes a critical look at this debate by focusing on the relative macreoeconomic performance of currency boards against other exchange rate regimes in transition economies. The empirical findings of this paper show that, relative to floating regimes, currency boards in transition economies are associated with lower inflation and higher real per-capita growth. Additionally, transition economies with currency boards experience higher real GDP per-capita growth compared to both pegged and floating regimes. According to the currency board experiences in transition economies, it can be stated that currency boards in Estonia, Lithuania and Bulgaria brought lower inflation and higher real GDP growth to these countries relative to the pre-currency board period.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Research and Monetary Policy Department, Central Bank of the Republic of Turkey in its journal Central Bank Review.
Volume (Year): 3 (2003)
Issue (Month): 2 ()
Contact details of provider:
Postal: Head Office, Istiklal Cad. 10 Ulus, 06100 Ankara
Phone: (90 312) 507 5000
Fax: (90 312) 507 5640
Web page: http://www.tcmb.gov.tr/
More information through EDIRC
Transition Economies; Exchange Rates; Currency Boards; Inflation; Growth;
Find related papers by JEL classification:
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
- P20 - Economic Systems - - Socialist Systems and Transition Economies - - - General
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Gulhanim Kayatas).
If references are entirely missing, you can add them using this form.