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Legal and institutional aspects of the currency changeover following the restoration of the independence of the Baltic states

Author

Listed:
  • Drēviņa, Kristīne
  • Laurinavičius, Kęstutis
  • Tupits, Andres

Abstract

In the monetary reforms that took place in the Baltic States in the 1990s, two approaches were taken for breaking away from the rouble zone: one of them constituted a rapid changeover (Estonia), and the other one was relatively smoother, being made in two stages and involving the use of interim currencies (Latvia and Lithuania). Part 1 of this paper sets out the general considerations common to the currency changeover in the Baltic States, while part 2 examines the two above mentioned approaches in detail, first focusing on the Estonian experience and second on that of Latvia and Lithuania. The paper concludes with a summary. JEL Classification: K

Suggested Citation

  • Drēviņa, Kristīne & Laurinavičius, Kęstutis & Tupits, Andres, 2007. "Legal and institutional aspects of the currency changeover following the restoration of the independence of the Baltic states," Legal Working Paper Series 5, European Central Bank.
    • Handle: RePEc:ecb:ecblwp:20075
    Note: 843575
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    Keywords

    Baltic states; currency changeover;

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