Dollarization / edited by Eduardo Levy Yeyati and Federico Sturzenegger.

9780262286527 (electronic bk.)
0262286521 (electronic bk.)
0585443823 (electronic bk.)
9780585443829 (electronic bk.)
0262122502

Cambridge, Mass. : MIT Press, ©2003.

English

1 online resource (ix, 341 pages) : illustrations

HG221 .D55 2003eb

332.4/54

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.

Access limited to authorized users.

OCLC-licensed vendor bibliographic record.

Online Access through The MIT Press Direct
OCLC metadata license agreement

Online Resources > Ebooks
All Resources