Conclusions
Conclusions
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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