Dollarization In Transition Economies
DOWNLOAD
FREE 30 Days
Download Dollarization In Transition Economies PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Dollarization In Transition Economies book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Dollarization In Transition Economies
DOWNLOAD
FREE 30 Days
Author : Ms.Ratna Sahay
language : en
Publisher: International Monetary Fund
Release Date : 1995-09-01
Dollarization In Transition Economies written by Ms.Ratna Sahay and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-09-01 with Business & Economics categories.
After most restrictions on foreign currency holdings were relaxed in the early 1990s, foreign currency deposits in transition economies have been increasing rapidly. This paper takes a first look at the evidence on dollarization for 15 transition economies, and then discusses some key conceptual and policy implications. Depending on the institutional constraints, foreign currency deposits as a proportion of broad money reached a peak of between 30 and 60 percent in 1992-93. Unlike what has been observed in Latin America, however, dollarization has fallen substantially in the aftermath of successful stabilization plans in Estonia, Lithuania, Mongolia, and Poland. Since foreign currency deposits reflect mainly a portfolio choice, the fall in dollarization can be primarily attributed to higher real returns on domestic-currency assets, as a result of lower inflation and more market-determined interest rates.
Dollarization In Transition Economies
DOWNLOAD
FREE 30 Days
Author : Ratna Sahay
language : en
Publisher:
Release Date : 2006
Dollarization In Transition Economies written by Ratna Sahay and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
After most restrictions on foreign currency holdings were relaxed in the early 1990s, foreign currency deposits in transition economies have been increasing rapidly. This paper takes a first look at the evidence on dollarization for 15 transition economies, and then discusses some key conceptual and policy implications. Depending on the institutional constraints, foreign currency deposits as a proportion of broad money reached a peak of between 30 and 60 percent in 1992-93. Unlike what has been observed in Latin America, however, dollarization has fallen substantially in the aftermath of successful stabilization plans in Estonia, Lithuania, Mongolia, and Poland. Since foreign currency deposits reflect mainly a portfolio choice, the fall in dollarization can be primarily attributed to higher real returns on domestic-currency assets, as a result of lower inflation and more market-determined interest rates.
Dollarization In Transition Economies
DOWNLOAD
FREE 30 Days
Author : Ratna Sahay
language : en
Publisher:
Release Date : 1995
Dollarization In Transition Economies written by Ratna Sahay and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with categories.
Dollarization In Transition Economies New Evidence From Georgia
DOWNLOAD
FREE 30 Days
Author : Olga Aslanidi
language : en
Publisher:
Release Date : 2008
Dollarization In Transition Economies New Evidence From Georgia written by Olga Aslanidi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
Dollarization And De Dollarization In Transitional Economies Of Southeast Asia
DOWNLOAD
FREE 30 Days
Author : Koji Kubo
language : en
Publisher: Springer
Release Date : 2017-09-01
Dollarization And De Dollarization In Transitional Economies Of Southeast Asia written by Koji Kubo and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-01 with Business & Economics categories.
This book sheds light on the dollarization trends of four transitional economies in Southeast Asia: Cambodia, Lao PDR, Myanmar, and Vietnam. Moving beyond the tendency to focus on the Latin American experience of dollarization and prolonged high inflation, the chapters in this book compare how payment dollarization has been more persistent than other types of dollarization in this region due to network externalities. The book illustrates that dollarization started in the underdeveloped financial system in these countries and that dollarization interacted with financial development, which is in contrast to dollarization in Latin America. This project extends the frontiers of empirical studies on dollarization. It will be of interest to students, researchers and policy makers concerned with dollarization and economics in Southeast Asia.
Dollarization And Financial Development
DOWNLOAD
FREE 30 Days
Author : Mr.Geoffrey J Bannister
language : en
Publisher: International Monetary Fund
Release Date : 2018-09-11
Dollarization And Financial Development written by Mr.Geoffrey J Bannister and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-09-11 with Business & Economics categories.
Despite significant strides in financial development over the past decades, financial dollarization, as reflected in elevated shares of foreign currency deposits and credit in the banking system, remains common in developing economies. We study the impact of financial dollarization, differentiating across foreign currency deposits and credit on financial depth, access and efficiency for a large sample of emerging market and developing countries over the past two decades. Panel regressions estimated using system GMM show that deposit dollarization has a negative impact on financial deepening on average. This negative impact is dampened in cases with past periods of high inflation. There is also some evidence that dollarization hampers financial efficiency. The results suggest that policy efforts to reduce dollarization can spur faster and safer financial development.
Monetary Policy In Dollarized Economies
DOWNLOAD
FREE 30 Days
Author : Mr.Adam Bennett
language : en
Publisher: International Monetary Fund
Release Date : 1999-03-15
Monetary Policy In Dollarized Economies written by Mr.Adam Bennett and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-03-15 with Business & Economics categories.
Dollarization - the holding by residents of a substantial portion of their assets in foreign-currency-denominated assets- is a common feature of developing and transition economies, and therefore typical of many countries with IMF - supported adjustment programs. This paper analyzes policy issues that arise-and various monetary strategies that may be pursued- when the monetary sector is dollarized, and it considers the implications that dollarization has for the design of IMF programs.
Unravelling The Persistence Of Dollarization
DOWNLOAD
FREE 30 Days
Author : Ia Eradze
language : en
Publisher: Taylor & Francis
Release Date : 2023-06-22
Unravelling The Persistence Of Dollarization written by Ia Eradze and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-06-22 with Business & Economics categories.
This volume engages with the roots, dimensions, and implications of foreign currency domination in states with a national currency. Referred to as unofficial dollarization in literature, this is a worldwide phenomenon among developing countries and has a long history. This monograph provides a political economic analysis of dollarization in Georgia and is structured around three themes: the genesis of dollarization (1991–2003), the persistence of dollarization (2003–12) and the politicization of dollarization (2012–19). The case of Georgia is especially representative of the post-socialist transition states, but also has wider applicability. A high level of dollarization is a significant barrier to economic growth, macroeconomic and political stability, functional monetary policy, as well as social welfare. The Covid-19 crisis and the increasing debt of developing countries in foreign currency exacerbate dollarization-related vulnerabilities for these economies. This book will be of interest to postgraduate students in global/comparative political economy, development economics or transition economies, researchers in monetary sovereignty, central banking, exchange rate policies, currency hierarchy, money, financialization, and policy makers in dollarized countries and global institutions.
Understanding Dollarization
DOWNLOAD
FREE 30 Days
Author : Emre Ozsoz
language : en
Publisher: Walter de Gruyter GmbH & Co KG
Release Date : 2016-05-24
Understanding Dollarization written by Emre Ozsoz and has been published by Walter de Gruyter GmbH & Co KG this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-24 with Business & Economics categories.
A very commonly observed phenomenon in developing and emerging market economies is the use of another country’s currency (whether the US dollar or another currency) in lieu or in addition to the local currency. The most common type of this financial phenomenon is partial (de facto) dollarization where foreign currencies are used side by side with local currency for saving and borrowing purposes in addition to serving as medium of exchange. Governments in these countries have been encouraging dollarization for years by allowing their citizens to save and borrow from local banks in foreign currency. Yet the existence of multiple currencies on banks' balance sheets on both the asset and liability side poses risks to the health and stability of the banking system. This book evaluates the practical aspects of partial dollarization in countries such as Turkey, South Korea, Peru, and Cambodia among others. Starting with the origins of the phenomenon, the impact on banking systems and financial depth of the credit markets are discussed along with risks to the banking systems. Challenges faced by Central Banks and banking regulators are evaluated using recent country studies.
How To De Dollarize Financial Systems In The Caucasus And Central Asia
DOWNLOAD
FREE 30 Days
Author : Mr. Sami Ben Naceur
language : en
Publisher: International Monetary Fund
Release Date : 2015-09-23
How To De Dollarize Financial Systems In The Caucasus And Central Asia written by Mr. Sami Ben Naceur and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-09-23 with Business & Economics categories.
Dollarization rates in the Caucasus and Central Asia (CCA) region are among the highest in the world, with adverse consequences for macroeconomic stability, monetary policy transmission, and financial sector development. Using dynamic panel data models, we find that foreign exchange deposits and loans in the CCA are mainly driven by volatile inflation and exchange rates, low financial depth, and asymmetric exchange rate policies biased toward depreciation. Although there is no unique formula for success, empirical studies and cross-country experiences suggest that credible monetary and exchange rate frameworks, low and stable inflation, and deep domestic financial markets are essential ingredients of any de-dollarization strategy. In implementation, policymakers need to consider proper sequencing of policies, effective communication as well as risks from potential financial disintermediation and instability, and/or capital flight.