@article{1385894,
      author = {Levy Yeyati, Eduardo. and Sturzenegger, Federico.},
      url = {http://library.usi.edu/record/1385894},
      title = {Dollarization /},
      publisher = {MIT Press,},
      abstract = {Theoretical and empirical analysis of de jure  dollarization.With the persistent instability of  international financial markets, emerging economies are  exploring new ways to reduce exposure to capital flow  volatility. Some analysts argue that financially open  economies are best served by more flexible regimes, while  others argue in favor of extreme exchange rate regimes that  have a strong commitment to a fixed parity or dispense with  an independent currency. The successful launch of the euro  has made more realistic the prospect of replacing a  national currency with a strong foreign one. Recent  examples include the adoption of the US dollar by Ecuador  and El Salvador.The introduction of a foreign currency as  sole legal tender, termed full (de jure) dollarization, has  been the center of much political and academic debate. This  book provides a comprehensive analysis of the issues from  both theoretical and empirical perspectives. The topics  discussed include the role of balance sheet effects, the  linkage between currency risk and country risk, the impact  of dollarization on trade, financial integration and  credibility, the implications of dollarization for the  lender of last resort, and the institutional and political  economy aspects of dollarization.},
      recid = {1385894},
      pages = {1 online resource (ix, 341 pages) :},
      address = {Cambridge, Mass. :},
      year = {2003},
}