Szanse i zagrożenia związane z systemem izby walutowej

• Autorzy: Krzysztof Biegun

Warianty tytułu

Opportunities and Threats Connected with Currency Board System

• Języki publikacji: PL

Abstrakty

Celem niniejszego artykułu będzie bliższe omówienie systemu curreny board (CB) na przykładach wybranych krajów oraz próba identyfikacji przyczyn, dla których zdecydowały się one właśnie na zarząd walutą. Zostanie też podjęta próba identyfikacji czynników decydujących o sukcesie bądź klęsce CB w poszczególnych krajach. (fragment tekstu)

EN

Central and Eastern European countries had to transform their economies after 1989. Monetary and fiscal policies were important part of this process. One of the most important was a choice of monetary regime. Some countries have established currency board-like systems. A currency board is a monetary authority that issues notes and coins convertible into a foreign anchor currency or commodity (also called the reserve currency) at a truly fixed rate and on demand. Estonia established a currency boardlike system on 20 June 1992, establishing an exchange rate of 8 kroons = 1 German mark (DM). With the replacement of the mark by the euro, the euro became the anchor currency. Lithuania, influenced by Estonia's success, did likewise on 1 April 1994, establishing an exchange rate of 4 litas (the Lithuanian plural is litai) = US$1. Lithuania changed the anchor currency on 1 February 2002 by switching from the dollar to the euro on 1 February 2002 using the prevailing dollar-euro cross rate. Bulgaria established a currency board-like system on 1 July 1997 to reverse a high rate of inflation and a shrinking economy. Some economists have claimed that currency boards are only appropriate for small economies highly open to foreign trade. Historically, though, currency boards have worked well both in relatively large, closed economies and in small, open ones. Currency boards also are worth considering in any country where the national currency has not performed as well in the long term as the major internationally traded currencies - many currencies have promising performance for a few years, but are unable to sustain it. (original abstract)

Słowa kluczowe

PL

Izba walutowa; Sytuacja gospodarcza

EN

Currency board; Economic situation

• Czasopismo: Prace Doktorantów AE
• Rocznik: 2006
• Tom: Przedsiębiorstwo wobec wyzwań rynku
• Strony: 184--191

Twórcy

autor

Krzysztof Biegun

• Akademia Ekonomiczna we Wrocławiu, doktorant

Bibliografia

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