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Currency Boards in Retrospect and Prospect$
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Holger C. Wolf, Atish R. Ghosh, Helge Berger, and Anne-Marie Gulde

Print publication date: 2008

Print ISBN-13: 9780262232654

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262232654.001.0001

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PRINTED FROM MIT PRESS SCHOLARSHIP ONLINE (www.mitpress.universitypressscholarship.com). (c) Copyright The MIT Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in MITSO for personal use.date: 24 July 2021

Introduction

Introduction

Chapter:
(p.1) 1 Introduction
Source:
Currency Boards in Retrospect and Prospect
Author(s):

Wolf Holger C.

Ghosh Atish R.

Berger Helge

Gulde Anne-Marie

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262232654.003.0001

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.

Keywords:   currency board arrangements, exchange rate regimes, monetary policy, macroeconomic stabilization, inflation

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