In the years 2004-2014 the Lithuania's exchange rate policy was based on a rigid currency board system. After a period … of uncontested success in the fight against inflation in the first decade of the transition and economic growth, entering …. However, the consequences of this exchange rate system in the following years (until 2014) prevented Lithuania from meeting …

effects of currency board regimes on inflation, output growth, and macroeconomic performance more generally. - Drawing on …, Estonia, Lithuania, Bulgaria, and Bosnia and Herzegovina, the authors conclude that currency boards deliver significant … reductions in inflation compared to other regimes and do not seem to result in slower growth or a markedly higher vulnerability …

40 and 50 percent and Lithuania this ratio amounted to about 20 percent during this period. Other instruments than …