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Currency Board Arrangements

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  • Charles Enoch
  • Tomás J. T. Baliño
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    Abstract

    This paper provides a comprehensive analysis of the attractions and disadvantages of currency board arrangements in their various institutional configurations. It asks what defines a currency board arrangement, what are their strengths and weaknesses, and what constraints they place on macroeconomic policies. It also reviews country experiences with these arrangements.

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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=2293
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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Occasional Papers with number 151.

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    Length: 43
    Date of creation: 05 Sep 1997
    Date of revision:
    Handle: RePEc:imf:imfocp:151

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    Cited by:
    1. De la Torre, Augusto & Levy Yeyati, Eduardo & Schmukler, Sergio L., 2003. "Living and dying with hard pegs : the rise and fall of Argentina's currency board," Policy Research Working Paper Series 2980, The World Bank.
    2. PONSOT, Jean-François, 2000. "Le Currency Board : les contraintes de financement et d'ajustement de la convertibilité intégrale," LATEC - Document de travail - Economie (1991-2003) 2000-10, LATEC, Laboratoire d'Analyse et des Techniques EConomiques, CNRS UMR 5118, Université de Bourgogne.
    3. Ying Wu, 2005. "Determining a Modified Currency Board's Two-Period Exchange Rate Strategy," International Advances in Economic Research, Springer, vol. 11(4), pages 347-357, November.
    4. Beckerman, Paul, 2001. "Dollarization and semi-dollarization in Ecuador," Policy Research Working Paper Series 2643, The World Bank.
    5. Cordeiro, Jose Luis, 2008. "Monetary Systems in Developing Countries: An Unorthodox View," IDE Discussion Papers 154, Institute of Developing Economies, Japan External Trade Organization(JETRO).
    6. Åke Lönnberg & Luis Ignacio Jácome, 2010. "Implementing official Dollarization," IMF Working Papers 10/106, International Monetary Fund.
    7. Raoul Lättemäe, 2001. "Monetary transmission mechanism in Estonia - some theorethical considerations and stylized aspects," Bank of Estonia Working Papers 2001-4, Bank of Estonia, revised 13 Oct 2001.
    8. Mart Sõrg, 2005. "Estonia’s Accession to the EMU," Working Papers 133, Tallinn School of Economics and Business Administration, Tallinn University of Technology.
    9. Corrinne Ho, 2002. "A survey of the institutional and operational aspects of modern-day currency boards," BIS Working Papers 110, Bank for International Settlements.
    10. Chionis, Dionysios, 2003. "Policy Misalignments of the Currency Board Arrangements: Issues and Experiences from the Caribbean Economies," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 3(2).
    11. Sarkis Joseph Khoury & Clas Wihlborg, 2006. "Outsourcing Central Banking: Lessons from Estonia," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 9(2), pages 125-144.
    12. Macedo, Jorge Braga de & Braz, José & Pereira, Luis brites & Nunes, Luis C., 2006. "Exchange market pressure and the credibility of Macau's currency Board," FEUNL Working Paper Series wp492, Universidade Nova de Lisboa, Faculdade de Economia.
    13. Emilie Laffiteau & Jean-Marc Montaud, 2005. "Currency Board et ajustements macroéconomiques : les leçons de l’expérience argentine," Documents de travail 120, Groupe d'Economie du Développement de l'Université Montesquieu Bordeaux IV.
    14. International Monetary Fund, 2002. "Lithuania," IMF Working Papers 02/127, International Monetary Fund.
    15. Moheeput, Ashwin, 2008. "Issues on the choice of Exchange Rate Regimes and Currency Boards – An Analytical Survey," The Warwick Economics Research Paper Series (TWERPS) 855, University of Warwick, Department of Economics.
    16. Mark R. Stone, 2003. "Inflation Targeting Lite," IMF Working Papers 03/12, International Monetary Fund.
    17. Urmas Sepp & Raoul Lättemäe & Martti Randveer, 2002. "The History and Sustainability of the CBA in Estonia," Macroeconomics 0212002, EconWPA.

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