Economic Policy In Eastern Europe: Were Currency Boards A Solution? [Hardcover]

In 1989 the post-Communist countries of Eastern Europe opened their economies by establishing more open exchange rate policies and exchange controls and eliminating prohibitive tariffs and quotas. Now trying to join the integrated world economy, they are facing the challenge of finding strategic alliances and attracting foreign capital. This book analyzes economic policy in Eastern Europe with a focus on the financial arrangement of currency boards. It examines the main challenges facing East European countries, their economic policy strategies, the main challenges to the economies that adopted currency boards, and whether currency boards were a solution.

The book is organized into two parts. Part I addresses the challenges to economic policy in Eastern Europe, and Part II turns to the discussion of currency board arrangements.

Preface
Introduction by Iliana Zloch-Christy
Economic Policy in Post-Communist Eastern Europe
Challenges of Economic Policy in Post-Communist Transition by Grzegorz Kolodko
Currency Convertibility in the Transforming Economies by Richard N. Cooper
Currency Board Arrangements
Why Currency Boards? by Ikka Korhonen, Pekka Sutela, Niina Pautola, and Iliana Zloch-Christy
Currency Boards in International Perspective by Niina Pautola
Currency Boards in the Baltics by Pekka Sutela and Ikka Korhonen
The Currency Board in Estonia by Vello Vensel and Mart S?rg
The Currency Board in Bulgaria: Is It a Solution or the Economic Consequences of Failed Reforms by Iliana Zloch-Christy
Conclusion
Selected Bibliography
Index