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What Role for Currency Boards?
Book Data
September 1995
ISBN paper 0-88132-222-9
44 pp.
$12.95 $6.48
( 50 % discount)

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What Role for Currency Boards?


Policy Analyses in International Economics 40

by John Williamson

"... a better balanced evaluation of the merits and shortcomings of currency boards than anything the 'evangelicals' have produced."

Anna J. Schwartz
National Bureau of Economic Research, Inc.

"... balanced and even-handed analysis."

Adam Bennett
International Monetary Fund

Description

To help overcome its financial crisis, Russia is being urged to create a currency board, which has met with success in other countries such as Argentina, Estonia, and Hong Kong. This study explains what a currency board is and how it differs from a central bank, and examines the advantages and disadvantages of each type of arrangement. The author concludes that currency boards may be quite attractive to small, open economies and a useful prop in those emerging from a very deep macroeconomic crisis, but that their disadvantages outweigh these attractions in most large countries.

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Contents

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Preface

Acknowledgments

1. The Revival of an Old Idea 147.4KB

2. A Consideration of the Pros and Cons 157.8KB

3. Where Do Currency Boards Help? 140.7KB

References


Other books of interest:
Argentina and the Fund: From Triumph to Tragedy
Argentina and the Fund: From Triumph to Tragedy
by Michael Mussa
Crawling Band as an Exchange Rate Regime: Lessons from Chile, Colombia, and Israel
Crawling Band as an Exchange Rate Regime: Lessons from Chile, Colombia, and Israel
by John Williamson
Dollar Overvaluation and the World Economy
Dollar Overvaluation and the World Economy
edited by C. Fred Bergsten and
John Williamson
Exchange Rate Regimes for Emerging Markets: Reviving the Intermediate Option
Exchange Rate Regimes for Emerging Markets: Reviving the Intermediate Option
by John Williamson