Monetary reform for a free Estonia

Hanke outlines a currency-board-based plan tailored to Estonia's economic transition, arguing that a credible fixed-exchange-rate regime can rapidly stabilize prices and anchor expectations.

The book describes institutional arrangements, reserve requirements, and legal measures necessary to implement such a reform effectively.

Drawing on historical and comparative evidence, Hanke argues currency boards can provide discipline and credibility absent in discretionary monetary regimes.

The work situates Estonia's context within broader lessons about currency stabilization in post-Soviet economies.

It is intended for policymakers and scholars interested in practical monetary reform strategies.