A Survey of the Institutional and Operational Aspects of Modern-Day Currency Boards

25 Pages Posted: 13 Dec 2005

See all articles by Corrinne Ho

Corrinne Ho

Bank for International Settlements

Date Written: March 2002

Abstract

This paper surveys the institutional and operational features of the six modern currency boards. The survey is developed around three key aspects: organisation, operations and legal foundation. By laying out the facts, this survey seeks to shed light on how and why modern currency boards in practice are different from the classic definition, and to distil from their features an updated definition and the revised "rules of the game".

Keywords: currency boards, convertibility, rules, discretion, liquidity

JEL Classification: E42, E52, E58

Suggested Citation

Ho, Corrinne, A Survey of the Institutional and Operational Aspects of Modern-Day Currency Boards (March 2002). BIS Working Paper No. 110, Available at SSRN: https://ssrn.com/abstract=846325 or http://dx.doi.org/10.2139/ssrn.846325

Corrinne Ho (Contact Author)

Bank for International Settlements ( email )

Centralbahnplatz 2
CH-4002 Basel, Basel-Stadt
Switzerland
00 41 61 280 9100 (Fax)

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