This introductory chapter describes the changing fortunes of currency board arrangements (CBAs) since their beginnings in colonial times. CBAs were once one of the dominant regimes in small open dependent territories, but were soon abandoned as territories gained independence. CBAs made a comeback in the 1990s as the cornerstone of various macroeconomic stabilization programs. By the late 1990s, countries with CBAs included Bosnia and Herzegovina, Bulgaria, Estonia, and Lithuania. The chapter also considers the debates surrounding the impact of CBAs on inflation.
MIT Press Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
If you think you should have access to this title, please contact your librarian.
To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.