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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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Euro-Based Currency Boards: An Assessment

Euro-Based Currency Boards: An Assessment

(p.191) 14 Euro-Based Currency Boards: An Assessment
Currency Boards in Retrospect and Prospect

Wolf Holger C.

Ghosh Atish R.

Berger Helge

Gulde Anne-Marie

The MIT Press

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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