An Analysis of the Performance of Currency Boards

Rachmiel Joseph Naness
Additional contact information
Rachmiel Joseph Naness: The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise

No 70, Studies in Applied Economics from The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise

Abstract: Most countries that have ever had currency boards no longer do. This paper evaluates the economic performance of countries during currency board and non-currency board periods. Compared to the monetary systems that preceded or succeeded them (typically, central banking), currency board systems generally had lower inflation, exchange rates less prone to depreciation, fewer financial crises, fewer years of government budget deficits, and slightly higher growth of GDP per person. Supporting data are available in an accompanying spreadsheet workbook.

Keywords: currency boards; growth; inflation; foreign reserves; fiscal deficits; convertibility exchange controls; financial crises; exchange rate depreciation (search for similar items in EconPapers)
JEL-codes: E58 E63 N10 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2017-01
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://sites.krieger.jhu.edu/iae/files/2017/04/Na ... -Currency-Boards.pdf Full text (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:jhisae:0070

Access Statistics for this paper

More papers in Studies in Applied Economics from The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise Contact information at EDIRC.
Bibliographic data for series maintained by Steve H. Hanke ().