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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

Currency Boards in Historical Perspective

Currency Boards in Historical Perspective

Chapter:
(p.6) (p.7) 2 Currency Boards in Historical Perspective
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/9780262232654.003.0002

This chapter examines the history of currency boards to provide context for a discussion on modern currency boards and determine if any lessons can be learnt from past experiences. It compares early and modern boards and then looks at the specific case of the creation of the West African Currency Board (WACB) in 1912. It shows that during a period of pronounced global monetary instability, the early currency boards achieved low average inflation rates under a credibly pegged exchange rate regime.

Keywords:   currency boards, West African Currency Board, inflation, exchange rate regime

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