currency boards, Global/Multiregional, Macroeconomics and macroeconomic policy, monetary policy, CASE Reports, CASE Network Studies and Analyses

Design and Operation of Existing Currency Board Arrangements


This paper summarizes recent literature on the experience of some existing currency boards. It begins with the definition of the currency board and the description of some existing currency boards. It then discusses advantages and disadvantages of implementing the currency board regime, and concludes with a list of conditions that must be satisfied if a country wants to adopt this monetary framework.