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Kęstutis Laurinavičius

23 July 2007
LEGAL WORKING PAPER SERIES - No. 5
Legal and institutional aspects of the currency changeover following the restoration of the independence of the Baltic states
English
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Abstract
In the monetary reforms that took place in the Baltic States in the 1990s, two approaches were taken for breaking away from the rouble zone: one of them constituted a rapid changeover (Estonia), and the other one was relatively smoother, being made in two stages and involving the use of interim currencies (Latvia and Lithuania). Part 1 of this paper sets out the general considerations common to the currency changeover in the Baltic States, while part 2 examines the two above mentioned approaches in detail, first focusing on the Estonian experience and second on that of Latvia and Lithuania. The paper concludes with a summary.
JEL Code
K : Law and Economics