An Assessment of the Currency Board Regime in Bosnia and Herzegovina

Vivek Dehejia () and Nadja Kamhi ()
Additional contact information
Nadja Kamhi: Department of Banking Operations, Bank of Canada, http://www.bankofcanada.ca

No 05-01, Carleton Economic Papers from Carleton University, Department of Economics

Abstract: This paper describes the currency board regime operations in Bosnia and Herzegovina and assess its performance and sustainability in the context of the economic, political and institutional environment. To the best of our knowledge, our study seems to be unique in this respect. Based on the theoretical considerations as well as empirical evidence, we judge that Bosnia and Herzegovina’s currency board regime is well-suited and appropriate given the country’s history, its current state and its future goals. Nevertheless, we believe that the key to the currency board’s sustainability, and an eventual accession to the European Union, is a stronger legal and regulatory infrastructure and a more unified political system.

Pages: 23 pages
Date: 2005, Revised 2006-12
New Economics Papers: this item is included in nep-cba, nep-mon and nep-tra
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Published: An Assessment of the Currency Board Regime in Bosnia and Herzegovina – revised version in Emerging Markets Finance & Trade, Vol. 42, No. 6 (November/December 2006), pp. 46–58

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Journal Article: An Assessment of the Currency Board Regime in Bosnia and Herzegovina (2006)
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