Prethodno priopćenje
An out-of-sample assessment of the efficiency of currency boards in European trasition economies
Petya Mihaylova
; Američko sveučilište u Bugarskoj, Blagoevgrad, Bugarska
Numan Ülkü
; Američko sveučilište u Bugarskoj, Blagoevgrad, Bugarska
Sažetak
We assess the contribution of the new-generation currency boards (CB) in European transition economies to macroeconomic performance (growth and inflation). Focusing on more recent data to exclude the volatile effects around the launch of the currency board arrangements, we identify the long run contribution of currency boards to growth. This
fills a major gap in the literature as previous studies cannot exclude post-launch effects and results driven by colonial currency boards. We find a (borderline) significant positive (negative) effect of CBs on growth (inflation).
Ključne riječi
currency boards; macroeconomic performance; European transition economies
Hrčak ID:
132525
URI
Datum izdavanja:
1.6.2013.
Posjeta: 765 *