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Proceedings of a Conference on Currency Substitution and Currency Boards : World Bank Discussion Paper - Nissan Liviatan

Proceedings of a Conference on Currency Substitution and Currency Boards

World Bank Discussion Paper

By: Nissan Liviatan (Editor)

Paperback Published: 1993
ISBN: 9780821325216
Number Of Pages: 103

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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.

ISBN: 9780821325216
ISBN-10: 0821325213
Series: World Bank Discussion Paper
Audience: Professional
Format: Paperback
Language: English
Number Of Pages: 103
Published: 1993
Publisher: World Bank Publications
Country of Publication: US
Dimensions (cm): 27.9 x 22.2  x 1.27
Weight (kg): 0.29

Earn 68 Qantas Points
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