The Currency Board Monetary System – A Survey of Financial Crises

Miloni Madan and Alec Maki
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Miloni Madan: The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise
Alec Maki: The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise

No 52, Studies in Applied Economics from The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise

Abstract: We survey financial crises in currency board systems to examine potential flaws in these regimes. We examine to what extent currency boards were involved in the lead-up to crises in Argentina, Bermuda, Bulgaria, Estonia, India, Hong Kong, Lithuania, Palestine, the Philippines, and the Straits Settlements (Singapore). Using contemporary accounts and authoritative later analyses, the paper makes conclusions about the root causes and ultimate triggers of these financial crises in relation to currency boards.

Keywords: Currency board; financial crises; Argentina; Bermuda; Bulgaria; Estonia; India; Hong Kong; Lithuania; Palestine; Philippines; Singapore; Straits Settlements (search for similar items in EconPapers)
JEL-codes: G01 N20 (search for similar items in EconPapers)
Pages: 68 pages
Date: 2016-03
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Persistent link: https://EconPapers.repec.org/RePEc:ris:jhisae:0052

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