FLOATING CURRENCIES, CAPITAL CONTROLS, OR CURRENCY BOARDS: WHAT'S THE BEST REMEDY FOR THE CURRENCY CRISES?

1999 ◽  
Vol 11 (4) ◽  
pp. 49-56 ◽  
Author(s):  
Vijay Singal
Keyword(s):  
Currency Crises ◽  
Capital Controls ◽  
Currency Boards

scholarly journals Currency boards and currency crises

2004 ◽  
Vol 56 (1) ◽  
pp. 64-87 ◽  
Author(s):  
G. Irwin
Keyword(s):  
Currency Crises ◽  
Currency Boards

scholarly journals Credits, Crises, and Capital Controls: A Microeconomic Analysis

2002 ◽  
Vol 1 (1) ◽  
Author(s):  
Zvika Neeman ◽  
Gerhard Oskar Orosel
Keyword(s):  
Foreign Investment ◽  
Currency Crises ◽  
Emerging Market ◽  
Currency Crisis ◽  
Capital Controls ◽  
Foreign Banks ◽  
Economic Risk ◽  
Its Analysis ◽  
Microeconomic Analysis ◽  
Project Risks

Abstract We analyze the behavior of foreign banks who sequentially provide credit to finance projects in an emerging market. The foreign banks are exposed to both project-risks and the macro-economic risk of a currency crisis, and there are no bailout guarantees. Nevertheless, we show that it is often the case that banks provide too much credit too easily and that this behavior may precipitate the onset of a currency crisis. We demonstrate how the imposition of capital controls in the form of taxes and subsidies on foreign investment may improve the situation. Whereas most of the literature on currency crises focuses its analysis on debtor countries and thus on the borrowers' side, our paper illustrates that the lenders' side also deserves attention.

scholarly journals Trust In A Social Theory Of Currency Crises As Applied To Currency Boards

2011 ◽  
Vol 6 (5) ◽  
Author(s):  
Rae Weston
Keyword(s):  
Social Theory ◽  
Gold Standard ◽  
Currency Crises ◽  
Affective Trust ◽  
Currency Boards

The conventional explanations of currency crises have not proved fruitful .Aykens (2005) proposes a social theory of currency crises which he shows is able to account for the interwar gold standard crisis. In this paper we explain the elements of Aykens theory, propose a brief extension of it and demonstrate with respect to currency boards, specifically those of Bosnia-Herzogovina and of Argentina both how affective trust is achieved and also how it is destroyed.

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