Bulgaria's latest stabilization program, which included the introduction of a currency board, marked the end of a period of economic turmoil and near-hyperinflation. What accounts for its success?

Plans to establish a currency board in Lebanon in a bid to help resolve the ongoing financial crisis has been met with division among economists. Opponents of the proposal, promoted by Steve H Hanke, ...

A currency board combines three elements: an exchange rate that is fixed to an "anchor currency," automatic convertibility (that is, the right to exchange domestic currency at this fixed rate whenever ...

This Economic Letter is based on a presentation Mark Spiegel prepared for a panel on “Optimal Currency Arrangements for Emerging Market Economies: The Experience of Latin America and Asia,” organized ...

Hong Kong is a special administrative region (SAR) of the People’s Republic of China (PRC). The official currency for the country is the Hong Kong dollar, with a currency board exchange rate ...