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European Experiences of Currency Boards: Estonia, Lithuania, Bulgaria and Bosnia and Herzegovina

In: Monetary Integration and Dollarization

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  • Jean-François Ponsot

Abstract

This book deals with the economic consequences of monetary integration, which has long been dominated by the Optimal Currency Area (OCA) paradigm. In this model, money is perceived as having developed from a private sector cost minimization process to facilitate transactions. Not surprisingly, the book argues, the main advantage of monetary integration in the OCA context is the reduction of transaction costs, yet the validity of OCA to analyze processes of monetary integration seems to be limited at best.

Suggested Citation

  • Jean-François Ponsot, 2006. "European Experiences of Currency Boards: Estonia, Lithuania, Bulgaria and Bosnia and Herzegovina," Chapters, in: Matías Vernengo (ed.), Monetary Integration and Dollarization, chapter 2, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:3483_2
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    Cited by:

    1. Vlastimir Vukovic & Aleksandar Zdravkovic, 2011. "The Inflation and Exchange Rate in the Five Balkan Countries from Maastricht Convergence Criteria Prospect," Book Chapters, in: Stefan Bogdan Salej & Dejan Eric & Srdjan Redzepagic & Ivan Stosic (ed.), Contemporary Issues in the Integration Processes of Western Balkan Countries in the European Union, chapter 3, pages 38-55, Institute of Economic Sciences.
    2. Gedeon Shirley, 2010. "The Political Economy of Currency Boards: Case of Bosnia and Herzegovina," South East European Journal of Economics and Business, Sciendo, vol. 5(2), pages 7-20, November.

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    Keywords

    Economics and Finance;

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