%0 Book
%A Kai Stukenbrock
%D 2004
%C Berlin, Germany
%I Peter Lang Verlag
%@ 9783631756997
%T The Stability of Currency Boards
%R 10.3726/b14167
%U https://www.peterlang.com/document/1068660
%X The 1990s saw a revival of the currency board system, and proponents have advocated it as an easy-to-set-up exchange rate arrangement providing effective stabilization of the economy. However, the experience of Argentina has highlighted the risks of having a currency board. This study presents both the potential benefits, as well as the risks, of having a currency board by examining the stability of the currency board arrangement and identifying factors affecting the stability. The analysis is based on second-generation currency crisis models, extended to incorporate currency-board specific features and to account for particular aspects often found in currency-board economies.
%K Stabilitätspolitik, Argentina, Lithuania, Hong Kong, Estonia, Exchange Rate, Foreign-Currency Debt, Currency Crisis, Currency Board
%G English