This paper analyzes the origins of currency crises for 20 OECD countries and South Africa from 1970 through 1998. The main contributions are in three areas. First, it tests for contagious crises and attempts to recognize contagion channels by employing a duration analysis. Second, to minimize...

Following Cuba’s "de-penalization," of the use of the dollar in August 1993, its role expanded rapidly. It now may be a more significant component of the overall money supply than the old peso. This generates some advantages but also contributes to some problems. The Government of Cuba has...