01734cas a2200241 a 4500 AALejournalIMF003202 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451859140 1018-5941 BD-DhAAL BD-DhAAL Dal Corso, Marie. An Institutional Framework for Comparing Emerging Market Currency Boards / Marie Dal Corso. Washington, D.C. : International Monetary Fund, 2004. 1 online resource (42 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper offers an in-depth review of the institutional arrangements underlying existing currency boards (CBAs) in Argentina (until 2001), Eastern Europe, and Asia. An index of precommitment is derived from an analysis of legislative frameworks and monetary policy operations. The index covers features associated with monetary and exchange rate credibility such as: (i) clarity of legal basis, (ii) quality of reserve coverage, (iii) coverage of monetary aggregates, (iv) claims on reserves, (v) operational autonomy, (vi) transparency and accountability, and (vii) escape clauses. The paper concludes with a discussion of flexibility and credibility trade-offs and exit issues. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2004/180 Full text available on IMF http://elibrary.imf.org/view/journals/001/2004/180/001.2004.issue-180-en.xml IMF e-Library