Currency Boards
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| Author | : Kai Stukenbrock |
| Publisher | : Peter Lang Pub Incorporated |
| Total Pages | : 237 |
| Release | : 2004 |
| Genre | : Business & Economics |
| ISBN | : 9783631520314 |
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.
| Author | : John Williamson |
| Publisher | : Peterson Institute for International Economics |
| Total Pages | : 68 |
| Release | : 1995 |
| Genre | : Business & Economics |
| ISBN | : |
Explains what a currency board is and how it differs from a central bank. Examines the advantages and disadvantages of each type of arrangement.
| Author | : Gerardo della Paolera |
| Publisher | : University of Chicago Press |
| Total Pages | : 296 |
| Release | : 2007-12-01 |
| Genre | : Business & Economics |
| ISBN | : 0226645584 |
The "Argentine disappointment"—why Argentina persistently failed to achieve sustained economic stability during the twentieth century—is an issue that has mystified scholars for decades. In Straining the Anchor, Gerardo della Paolera and Alan M. Taylor provide many of the missing links that help explain this important historical episode. Written chronologically, this book follows the various fluctuations of the Argentine economy from its postrevolutionary volatility to a period of unprecedented prosperity to a dramatic decline from which the country has never fully recovered. The authors examine in depth the solutions that Argentina has tried to implement such as the Caja de Conversión, the nation's first currency board which favored a strict gold-standard monetary regime, the forerunner of the convertibility plan the nation has recently adopted. With many countries now using—or seriously contemplating—monetary arrangements similar to Argentina's, this important and persuasive study maps out one of history's most interesting monetary experiments to show what works and what doesn't.
| Author | : Jutta Maute |
| Publisher | : Peter Lang Publishing |
| Total Pages | : 296 |
| Release | : 2006 |
| Genre | : Currency boards |
| ISBN | : |
Originally presented as the author's thesis (doctoral)--Universiteat Hohenheim, 2006.
| Author | : Steve H. Hanke |
| Publisher | : Psychology Press |
| Total Pages | : 222 |
| Release | : 1993 |
| Genre | : Business & Economics |
| ISBN | : 0415096510 |
As the new Russian state struggles with the transition to a market economy, the need for radical monetary reform becomes increasingly urgent. The choice of reform is crucial, for it will largely determine Russia's future economic performance. In order to break free of the lingering effects of Soviet central planning, the new Russian state needs a stable, convertible currency. Steve H. Hanke, Lars Jonung and Kurt Schuler propose that Russia establishes a currency board which would issue a Russian currency fully convertible with international currency, backed 100 per cent by international bonds. The international community would aid in establishing the currency board by providing the initial reserves. Early supplies of this new Russian currency would be distributed free to Russian citizens. The authors give detailed explanations of how the currency board could be established and how it would work.
| Author | : Robert W. Kolb |
| Publisher | : SAGE Publications |
| Total Pages | : 8802 |
| Release | : 2018-03-27 |
| Genre | : Business & Economics |
| ISBN | : 1483381536 |
Thoroughly revised, updated, and expanded, The SAGE Encyclopedia of Business Ethics and Society, Second Edition explores current topics, such as mass social media, cookies, and cyber-attacks, as well as traditional issues including accounting, discrimination, environmental concerns, and management. The new edition also includes an in-depth examination of current and recent ethical affairs, such as the dangerous work environments of off-shore factories for Western retailers, the negligence resulting in the 2010 BP oil spill, the gender wage gap, the minimum wage debate and increasing income disparity, and the unparalleled level of debt in the U.S. and other countries with the challenges it presents to many societies and the considerable impact on the ethics of intergenerational wealth transfers. Key Features Include: Seven volumes, available in both electronic and print formats, contain more than 1,200 signed entries by significant figures in the field Cross-references and suggestions for further readings to guide students to in-depth resources Thematic Reader's Guide groups related entries by general topics Index allows for thorough browse-and-search capabilities in the electronic edition
| Author | : Holger C. Wolf |
| Publisher | : MIT Press |
| Total Pages | : 279 |
| Release | : 2008 |
| Genre | : Business & Economics |
| ISBN | : 0262232650 |
Employing economic theory, cross-country empirical comparison and case studies, this work analyses the effect of currency boards on inflation, output growth and macroeconomic performance. The case studies come from Argentina, Estonia Lithuania, Bulgaria and Bosnia and Herzegovina.
| Author | : Nissan Liviatan |
| Publisher | : World Bank Publications |
| Total Pages | : 132 |
| Release | : 1993-01-01 |
| Genre | : Business & Economics |
| ISBN | : 9780821325216 |
Eighteen well-known policymakers and economists discuss the rising use of currency substitution in Latin America. They examine the effects of currency boards on substitute currencies and on national stabilization programs. Latin American countries including Argentina, Bolivia, Peru, and Uruguay increasingly use dollars as a substitute for domestic currency. The experts debate whether the region should encourage or resist this trend. Topics include the effects of substitution on inflation, liquidity, and exchange rates. The discussions on Argentina, Peru, and Brazil focus on the ways in which currency boards have affected stabilization in these countries. They consider whether such boards can strengthen fiscal discipline and speed economic adjustment. A currency board issues money that is converted into a foreign reserve currency at a fixed exchange rate. This independent institution takes over the central bank's role as the sole issuer of base money. It also manages the exchange rate to keep the currency stable and convertible.
| Author | : Steve Hanke |
| Publisher | : KSP Books - EconSciences |
| Total Pages | : 151 |
| Release | : 2023-03-01 |
| Genre | : Business & Economics |
| ISBN | : 6258190804 |
It is possible to present a brief summary of the subjects that the chapters in this book focus on. Ch 1. The Hanke-Krus World Hyperinflation Table first appeared in the authoritative Routledge Handbook of Major Events in Economic History, which was published in 2013. The table contained every country that had ever experienced a hyperinflation – all 56 of them. With this paper, we amend the Table and add a 57th entry: Venezuela. On December 3, 2016, Venezuela’s inflation met all the criteria required to qualify as a hyperinflation. Specifically, Venezuela’s monthly inflation rate exceeded 50 percent per month for 30 consecutive days....
| Author | : Guillermo Perry |
| Publisher | : World Bank Publications |
| Total Pages | : 38 |
| Release | : 1997-01-01 |
| Genre | : Business & Economics |
| ISBN | : 9780821338643 |
Currency boards are institutions that replace central banks and ensure that a country's currency can be purchased at a given price (or exchange rate) upon demand, thus imposing a fixed exchange rate on international transactions. These systems have their advantages--they prohibit the use of liberal monetary policies that lead to high inflation--but they can also limit the ability of an economy to react to changes in international economic conditions if foreign currency reserves are depleted. Such threats to the stability of the financial sector may stem from economic events that originate outside the national economy (external shocks), such as the fallout from the Mexican peso devaluation in late 1994. This paper presents the proceedings of a World Bank roundtable discussion held in 1996 to examine the impact of external shocks and to address the challenges countries face when operating under a currency-board system of currency exchange, with a particular emphasis on how certain costs can be minimized while maximizing the gains. Special attention is given to the currency-board systems in Argentina and Hong Kong.
