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A Proven Solution for Lebanon’s Economic Crisis: A Currency Board

Author

Listed:
  • Kandasamy, Ambika

    (The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise)

Abstract

Lebanon is currently facing a financial crisis marked by rising inflation rates and a black-market exchange rate that is significantly diverging day-by-day from the official exchange rate. In this paper, the author dives into Lebanon’s financial history and what actions undertaken by the government since the civil war have led to this crisis. After a thorough examination of the current economy, the author compares Lebanon’s present day financial crisis to the one faced by Bulgaria in the 1990s and concludes that the implementation of a currency board is a viable solution for restoring the strength of the Lebanese pound and ushering in financial stability.

Suggested Citation

  • Kandasamy, Ambika, 2021. "A Proven Solution for Lebanon’s Economic Crisis: A Currency Board," Studies in Applied Economics 197, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.
    • Handle: RePEc:ris:jhisae:0197
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    File URL: https://sites.krieger.jhu.edu/iae/files/2021/11/A-Proven-Solution-for-Lebanons-Economic-Crisis-A-Currency-Board.pdf
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    More about this item

    Keywords

    currency board; Lebanon; Bulgaria;
    All these keywords.

    JEL classification:

    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • G01 - Financial Economics - - General - - - Financial Crises

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