Currency Boards: Issues and Experiences
This paper discusses some of the issues that concern the operation of currency boards, by comparison to conventional exchange rate pegs, and looks at the experiences of three examples of this type of arrangement: Argentina (from 1991), Hong Kong (from 1983) and Estonia (from 1992). In all three case...
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| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington, D.C
International Monetary Fund
1994
|
| Series: | IMF Policy Discussion Papers
Papers on Policy Analysis and Assessment No. 94/18 |
| Online Access: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Summary: | This paper discusses some of the issues that concern the operation of currency boards, by comparison to conventional exchange rate pegs, and looks at the experiences of three examples of this type of arrangement: Argentina (from 1991), Hong Kong (from 1983) and Estonia (from 1992). In all three cases, the implementation of currency boards or equivalent arrangements played a significant role in their successful stabilization programs. Currency boards derive their strength from the fact that they severely constrain the policy maker's room for manoeuvre, by comparison to conventional pegs. They generally require an even stricter and less forgiving attitude to bank failure, wage and price rigidities and other disturbances than do exchange rate pegs in general. This is a Paper on Policy Analysis and Assessment and the author(s) would welcome any comments on the present text. Citations should refer to a Paper on Policy Analysis and Assessment of the international Monetary Fund mentioning the author(s) and the date of issuance. The views expressed are those of the author(s) and do not necessarily represent those of the Fund |
| Physical Description: | 1 Online-Ressource (36 p) |
| ISBN: | 1451965052 9781451965056 |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:18Z |
| indexdate | 2024-07-10T09:35:26Z |
| institution | BVB |
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| series2 | IMF Policy Discussion Papers |
| spelling | Bennett, Adam Verfasser aut Currency Boards Issues and Experiences Bennett, Adam Washington, D.C International Monetary Fund 1994 1 Online-Ressource (36 p) txt rdacontent c rdamedia cr rdacarrier IMF Policy Discussion Papers Papers on Policy Analysis and Assessment No. 94/18 This paper discusses some of the issues that concern the operation of currency boards, by comparison to conventional exchange rate pegs, and looks at the experiences of three examples of this type of arrangement: Argentina (from 1991), Hong Kong (from 1983) and Estonia (from 1992). In all three cases, the implementation of currency boards or equivalent arrangements played a significant role in their successful stabilization programs. Currency boards derive their strength from the fact that they severely constrain the policy maker's room for manoeuvre, by comparison to conventional pegs. They generally require an even stricter and less forgiving attitude to bank failure, wage and price rigidities and other disturbances than do exchange rate pegs in general. This is a Paper on Policy Analysis and Assessment and the author(s) would welcome any comments on the present text. Citations should refer to a Paper on Policy Analysis and Assessment of the international Monetary Fund mentioning the author(s) and the date of issuance. The views expressed are those of the author(s) and do not necessarily represent those of the Fund Online-Ausg http://elibrary.imf.org/view/IMF003/01467-9781451965056/01467-9781451965056/01467-9781451965056.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Bennett, Adam Currency Boards Issues and Experiences |
| title | Currency Boards Issues and Experiences |
| title_auth | Currency Boards Issues and Experiences |
| title_exact_search | Currency Boards Issues and Experiences |
| title_exact_search_txtP | Currency Boards Issues and Experiences |
| title_full | Currency Boards Issues and Experiences Bennett, Adam |
| title_fullStr | Currency Boards Issues and Experiences Bennett, Adam |
| title_full_unstemmed | Currency Boards Issues and Experiences Bennett, Adam |
| title_short | Currency Boards |
| title_sort | currency boards issues and experiences |
| title_sub | Issues and Experiences |
| url | http://elibrary.imf.org/view/IMF003/01467-9781451965056/01467-9781451965056/01467-9781451965056.xml |
| work_keys_str_mv | AT bennettadam currencyboardsissuesandexperiences |