| Description |
1 online resource (ix, 341 pages) : illustrations |
| Contents |
Dollarization : a primer / Eduardo Levy Yeyati and Federico Sturzenegger -- Dollarization : analytical issues / Roberto Chang and Andrés Velasco -- Using balance sheet data to identify sovereign default and devaluation risk / Pablo Andrés Neumeyer and Juan Pablo Nicolini -- Dollarization and the lender of last resort / Christian Broda and Eduardo Levy Yeyati -- Measuring costs and benefits of dollarization : an application to Central American and Caribbean countries / Ugo Panizza, Ernesto Stein, and Ernesto Talvi -- Dollarization : the link between devaluation and default risk / Andrew Powell and Federico Sturzenegger -- Implementation guidelines for dollarization and monetary unions / William C. Gruben, Mark A. Wynne, and Carlos E.J.M. Zarazaga -- The political economy of dollarization : domestic and international factors / Jeffry A. Frieden |
| Summary |
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 |
| Analysis |
ECONOMICS/Finance |
|
ECONOMICS/Political Economy |
| Bibliography |
Includes bibliographical references and index |
| Notes |
English |
|
Print version record |
| Subject |
Dollarization.
|
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Money.
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Dollar, American.
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Foreign exchange.
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Currency question.
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International finance.
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BUSINESS & ECONOMICS -- Foreign Exchange.
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Currency question
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Dollar, American
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Dollarization
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Foreign exchange
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International finance
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Money
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Amerikaanse dollar.
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Wisselkoersen.
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Monetaire politiek.
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| Form |
Electronic book
|
| Author |
Levy Yeyati, Eduardo
|
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Sturzenegger, Federico
|
| LC no. |
2002069586 |
| ISBN |
9780262286527 |
|
0262286521 |
|
0585443823 |
|
9780585443829 |
|
9780262122504 |
|
0262122502 |
|
