Normal view MARC view ISBD view

Ghosh, Atish R.

Currency Boards The Ultimate Fix? / Atish R Ghosh. [electronic resource] : Atish R Ghosh. - Washington, D.C. : International Monetary Fund, 1998. - 1 online resource (23 p.) - IMF Working Papers; Working Paper ; No. 98/8 . - IMF Working Papers; Working Paper ; No. 98/8 .

The growing integration of world capital markets has made it fashionable to argue that only extreme exchange rate regimes are sustainable. Short of adopting a common currency, currency board arrangements represent the most extreme form of exchange rate peg. This paper compares the macroeconomic performance of countries with currency boards to those with other forms of pegged exchange rate regime. Currency boards are indeed associated with better inflation performance, even allowing for potential endogeneity of the choice of regime. Perhaps more surprisingly, this better inflation performance is accompanied by higher output growth.

ISBN: 1451927959 : 15.00 USD

ISSN: 1018-5941

Standard No.: 10.5089/9781451927955.001 doi

Subjects--Topical Terms:
Central Bank
Currency Board
Currency Boards
Exchange Rate Regimes
Exchange Rate
Fixed Exchange Rates

Subjects--Geographic Terms:
Bulgaria
Hong Kong Special Administrative Region of China
Saint Vincent and the Grenadines