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The Stability of Currency Boards

The 1990s saw a revival of the currency board system, and proponents have advocated it as an easy-to-set-up exchange rate arrangement providing effective stabilization of the economy. However, the experience of Argentina has highlighted the risks of having a currency board. This study presents both...

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Enregistré dans:
Auteur principal: Stukenbrock, Kai
Format: Online
Langue:anglais
Publié: Peter Lang International Academic Publishers 2021
Sujets:
Argentina
Boards
Currency
Currency Board
Currency Crisis
Estonia
Exchange Rate
Foreign-Currency Debt
Hong Kong
Lithuania
Stabilitätspolitik
Stability
Stukenbrock
thema EDItEUR::J Society and Social Sciences::JP Politics and government
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCA Economic theory and philosophy
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCB Macroeconomics::KCBM Monetary economics
thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCZ Economic history
Accès en ligne:1003350
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Résumé:The 1990s saw a revival of the currency board system, and proponents have advocated it as an easy-to-set-up exchange rate arrangement providing effective stabilization of the economy. However, the experience of Argentina has highlighted the risks of having a currency board. This study presents both the potential benefits, as well as the risks, of having a currency board by examining the stability of the currency board arrangement and identifying factors affecting the stability. The analysis is based on second-generation currency crisis models, extended to incorporate currency-board specific features and to account for particular aspects often found in currency-board economies.

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