Exchange Rate Regimes in Selected Advanced Transition Economies: Coping with Transition, Capital Inflows, and EU Accession
Electronic Access:
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Summary:
Since beginning economic transition, the Czech Republic, Estonia, Hungary, Poland, and Slovenia have—with much success—employed diverse exchange rate regimes. As these countries approach EU accession, they will need to avoid the perils of too much or too little exchange rate variability when capital flows are likely to be large and volatile; narrow band arrangements in particular could be problematic. The exception is Estonia, where there are good arguments for retaining the currency board arrangement. Countries wishing to join the euro area at an early stage should not leave the removal of remaining capital controls to the last minute.
Series:
Policy Discussion Paper No. 2000/003
Subject:
Exchange rate arrangements Exchange rate flexibility Exchange rate policy Exchange rates Foreign exchange Inflation Prices
English
Publication Date:
April 1, 2000
ISBN/ISSN:
9781451974119/1564-5193
Stock No:
PPIEA0032000
Pages:
26
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