This chapter supplies, for the first time, a table that contains all 56 episodes of hyperinflation, including several which had previously gone unreported. The Hyperinflation Table is compiled in a systematic and uniform way. Most importantly, it meets the replicability test. It utilizes clean...

Debt swaps have been endorsed by the Reagan Administration as part of the so-called Baker Plan, by various multi-national lending organizations, and are a means of reducing external debt and of stimulating the flow of capital to indebted nations. Since this flow of external capital can, among...

Various developments in the world of corporate finance and taxes have given rise to an increased attention to the valuation of utility property tax and other purposes. As a result, there is a new interest in the techniques used to appraise utility property. This article identifies common...

For an economy to function well, it needs a currency that people can use to purchase a wide variety of goods and services, that is readily convertible into foreign exchange, and that is a reliable store of value. The currencies of the newly democratized nations of Eastern Europe do not possess...

A currency board is a monetary institution that issues notes and coins which are fully convertible into a reserve currency at a fixed rate on demand. Reserves are equal to 100 per cent, or slightly more, of a board's notes and coins. There have been over seventy currency boards and all have...

The Markovic government has clearly come down on the side of moving Yugoslavia towards a market economy. To succeed, the government must successfully privatize its so-called social capital, which represents about 85 percent of Yugoslavia's capital stock. We have presented privatization...

For an economy to function well, it needs a currency that people can use to purchase a wide variety of goods and services, that is readily convertible into foreign exchange, and that is a reliable store of value. The currencies of most less-developed countries, as well as those of the Soviet...

As a result of a request issued at the Houston Economic Summit in July 1990, an IMF-led team completed a study of the Soviet economy earlier this year. The study concluded that “rapid progress towards a unified exchange rate and current account convertibility of the ruble would also be...