Euro-Based Currency Boards: An Assessment
Euro-Based Currency Boards: An Assessment
This chapter considers the possibility that the strong inflation and growth performance of euro currency boards may be due to outside factors common to all the transition economies of central Europe, with the boards playing only a minor role. It does so by placing the experience of the euro boards in the context of the overall performance of the central European transition economies. All four countries operating currency board arrangements (CBAs)—Estonia, Lithuania, Bulgaria, and Bosnia and Herzegovina—have expressed a desire to exit directly from the currency board to Eurozone membership. The implications are examined in the concluding section.
Keywords: currency boards, transition economies, Estonia, Lithuania, Bulgaria, Bosnia and Herzegovina, inflation, economic growth, Eurozone
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