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Currency Reforms in Emerging-Market and Transition Economies

In: Palgrave Dictionary of Emerging Markets and Transition Economics

Author

Listed:
  • Karsten Staehr

Abstract

Currency reforms have been implemented every so often in emerging-market and transition economies. A currency reform is a prearranged redenomination or alteration of the currency, sometimes with confiscatory elements. Currency reforms may be introduced as part of a disinflationary stabilization programme, when territorial or political changes warrant the introduction of a new currency, or when a country joins a currency union. A currency reform may be a useful step in obtaining or retaining macroeconomic stability, but the outcome of the reform rests on the acceptance and credibility of the new currency. The details of the implementation of a currency reform and in particular of the accompanying policy measures are of crucial importance for a successful currency reform.

Suggested Citation

  • Karsten Staehr, 2015. "Currency Reforms in Emerging-Market and Transition Economies," Palgrave Macmillan Books, in: Jens Hölscher & Horst Tomann (ed.), Palgrave Dictionary of Emerging Markets and Transition Economics, chapter 2, pages 28-38, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-37138-6_3
    DOI: 10.1007/978-1-137-37138-6_3
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    Cited by:

    1. Hossein Bastanzad & Pedram Davoudi & Hossein Tavakolian, 2018. "Foreign Exchange Rate Pricing at the Future Contract (Case of I.R. of Iran)," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 22(1), pages 253-293, Winter.

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