Exchange rate arrangements in the run-up to the EMU: some experience in currency board countries
Since the beginning of the transition process from centrally planed to market economies, East European countries have experienced relatively high inflation and a market depreciation of their currency. Their monetary systems have gone through dramatic changes in the recent ten years, making the transition from a mono-bank to the traditional autonomous central bank. Some have adopted a currency board arrangement (CBA). Three candidate countries to the European Union (EU) - Bulgaria, Estonia and Lithuania -face the perspective of becoming a full-fledged members of the EU and after of the European Monetary Union (EMU). This paper investigates the issues and advantages of CBAs, especially in three transition countries (Estonia, Lithuania and Bulgaria) in the context of accession to the EU and to the European Monetary Union (EMU).
|Date of creation:||Jan 2002|
|Date of revision:|
|Contact details of provider:|| Postal: Avenue de Beaulieu, 1160 Brussels|
Phone: +322 299 3523
Fax: +322 299 3523
Web page: http://www.eeri.eu/index.htm
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ronald MacDonald & Luca Ricci, 2001.
"PPP and the Balassa Samuelson Effect: the Role of the Distribution Sector,"
CESifo Working Paper Series
442, CESifo Group Munich.
- R. Macdonald & L. Ricci, 2003. "PPP and the Balassa Samuelson Effect: The Role of the DistributionSector," DNB Staff Reports (discontinued) 81, Netherlands Central Bank.
- Ronald MacDonald & Luca A Ricci, 2001. "PPP and the Balassa Samuelson Effect; The Role of the Distribution Sector," IMF Working Papers 01/38, International Monetary Fund.
- Égert, Balázs, 2002. "Investigating the Balassa-Samuelson hypothesis in transition : Do we understand what we see?," BOFIT Discussion Papers 6/2002, Bank of Finland, Institute for Economies in Transition.
- György Szapáry, 2001. "Maastricht and the Choice of Exchange Rate Regime in Transition Countries during the Run-Up to EMU," Economics Working Papers 006, European Network of Economic Policy Research Institutes.
- International Monetary Fund, 2000. "Exchange Rate Regimes in Selected Advanced Transition Economies; Coping with Transition, Capital Inflows, and EU Accession," IMF Policy Discussion Papers 00/3, International Monetary Fund.
- Honohan, Patrick, 1994. "Currency Board or Central Bank? Lessons from the Irish Pound's Link with Sterling, 1928-79," CEPR Discussion Papers 1040, C.E.P.R. Discussion Papers.
- Balázs Egert, 2002. "Investigating the Balassa-Samuelson hypothesis in the transition: Do we understand what we see? A panel study," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 10(2), pages 273-309, July.
- Mundell, Robert, 2000. "Currency Areas, Volatility and Intervention," Journal of Policy Modeling, Elsevier, vol. 22(3), pages 281-299, May.
When requesting a correction, please mention this item's handle: RePEc:eei:rpaper:eeri_rp_2002_01. See general 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: (Julia van Hove)
If references are entirely missing, you can add them using this form.