This innovative book uses mainstream theoretical analysis to
explain the successes and failures of monetary reforms. Andreas
Freytag argues that there is a systematic economic relationship
between the success of a reform, the degree of monetary commitment
and the institutional setting in a particular country. The book
begins with a theoretical discussion of this relationship, and a
formalisation of the theory of monetary reform. It goes on to offer
an empirical assessment of the theory, using cross-section methods
and case studies, before finally presenting economic policy options
for countries facing monetary problems. Success and Failure in
Monetary Reform will be of unique interest to economists and
central banks. Scholars and students of monetary economics all over
the world, in particular in developing countries, will also find
this book invaluable.
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