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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: 06 December 2021

Conclusions

Conclusions

Chapter:
(p.203) 15 Conclusions
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/9780262232654.003.0015

This chapter summarizes the main themes covered in this book and presents some concluding thoughts. This book has provided a comprehensive, balanced look at currency board regimes, complementing cross-regime econometric analysis with more detailed case studies. The evidence indicates that countries operating under currency boards achieved markedly lower inflation rates. The improved inflation performance did not come at the cost of underperformance in growth or trade. Indeed, the evidence suggests that output growth has, if anything, been higher under currency boards, though the positive differential is not statistically robust.

Keywords:   currency boards, exchange rate regime, economic growth, inflation

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