An Assessment of the Currency Board Regime in Bosnia and Herzegovina
This paper describes the currency board regime operations in Bosnia and Herzegovina and assess its performance and sustainability in the context of the economic, political and institutional environment. To the best of our knowledge, our study seems to be unique in this respect. Based on the theoretical considerations as well as empirical evidence, we judge that Bosnia and Herzegovina’s currency board regime is well-suited and appropriate given the country’s history, its current state and its future goals. Nevertheless, we believe that the key to the currency board’s sustainability, and an eventual accession to the European Union, is a stronger legal and regulatory infrastructure and a more unified political system.
|Date of creation:||2005|
|Date of revision:||Dec 2006|
|Publication status:||Published: An Assessment of the Currency Board Regime in Bosnia and Herzegovina – revised version in Emerging Markets Finance & Trade, Vol. 42, No. 6 (November/December 2006), pp. 46–58|
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References listed on IDEAS
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- Enrique Alberola & Luis Molina, 2000. "Fiscal Discipline and Exchange Rate Regimes: a Case for Currency Boards?," Banco de Espa�a Working Papers 0006, Banco de Espa�a.
- Guillermo A. Calvo & Frederic S. Mishkin, 2003.
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American Economic Association, vol. 17(4), pages 99-118, Fall.
- Guillermo Calvo & Frederic S. Mishkin, 2003. "The Mirage of Exchange Rate Regimes for Emerging Market Countries," NBER Working Papers 9808, National Bureau of Economic Research, Inc.
- Leland B. Yeager, 2000. "Exchange Rates between What Sorts of Currencies?," Cato Journal, Cato Journal, Cato Institute, vol. 20(1), Spring/Su.
- repec:cto:journl:v:20:y:2000:i:1:p:49-59 is not listed on IDEAS
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