The Dollarization Debate PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download The Dollarization Debate PDF full book. Access full book title The Dollarization Debate by Dominick Salvatore. Download full books in PDF and EPUB format.
Author: Dominick Salvatore
Publisher: Oxford University Press
ISBN: 0198035365
Category : Business & Economics
Languages : en
Pages : 491
Get Book Here
Book Description
This book takes a global approach, with an emphasis on North and Latin America respectfully, by discussing one of today's most controversial topics in business; Dollarization. With the collapse of the former Soviet Union, and the formation of the Euro in Europe, many countries and debating whether or not a common currency is in their best interest. This intriguing volume brings together the leading participants in the current dollarization debates. Many advocate the notion of a common currency, while others feel that in doing so will create financial costs for all that take part, with the severity varying from country to country.
Author: Dominick Salvatore
Publisher: Oxford University Press, USA
ISBN: 019515536X
Category : Business & Economics
Languages : en
Pages : 491
Get Book Here
Book Description
This book takes a global approach to one of today's most controversial topics in business: Dollarization. With the collapse of the former Soviet Union, and the formation of the Euro in Europe, many countries are debating whether or not a common currency is in their best interest. This intriguing volume brings together the leading participants in the current dollarization debates.
Author: Eduardo Levy Yeyati
Publisher: MIT Press
ISBN: 9780262122504
Category : Business & Economics
Languages : en
Pages : 364
Get Book Here
Book Description
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.
Author: Dominick Salvatore
Publisher: Oxford University Press
ISBN: 0195155351
Category : Business & Economics
Languages : en
Pages : 491
Get Book Here
Book Description
This book takes a global approach by discussing one of today's most controversial topics in business; dollarization. Since the collapse of the Soviet Union, and the formation of the Euro, many countries are debating whether or not a common currency is in their best interest.
Author: Atish R. Ghosh
Publisher: MIT Press
ISBN: 9780262072403
Category : Business & Economics
Languages : en
Pages : 252
Get Book Here
Book Description
An empirical study of exchange rate regimes based on data compiled from 150 member countries of the International Monetary Fund over the past thirty years. Few topics in international economics are as controversial as the choice of an exchange rate regime. Since the breakdown of the Bretton Woods system in the early 1970s, countries have adopted a wide variety of regimes, ranging from pure floats at one extreme to currency boards and dollarization at the other. While a vast theoretical literature explores the choice and consequences of exchange rate regimes, the abundance of possible effects makes it difficult to establish clear relationships between regimes and common macroeconomic policy targets such as inflation and growth. This book takes a systematic look at the evidence on macroeconomic performance under alternative exchange rate regimes, drawing on the experience of some 150 member countries of the International Monetary Fund over the past thirty years. Among other questions, it asks whether pegging the exchange rate leads to lower inflation, whether floating exchange rates are associated with faster output growth, and whether pegged regimes are particularly prone to currency and other crises. The book draws on history and theory to delineate the debate and on standard statistical methods to assess the empirical evidence, and includes a CD-ROM containing the data set used.
Author: Andrew Berg
Publisher: International Monetary Fund
ISBN: 1451935048
Category : Business & Economics
Languages : en
Pages : 27
Get Book Here
Book Description
Analyzes the costs and benefits of full dollarization, or the adoption by one country of another country's currency. Potential advantages include lower borrowing costs and deeper integration into world markets. But countries lose the ability to devalue, and become dependent on the U.S. Compares with currency board option.
Author: Manuel Hinds
Publisher: Yale University Press
ISBN: 0300129777
Category : Business & Economics
Languages : en
Pages : 295
Get Book Here
Book Description
In this elegantly written book, Jerome Kagan melds the history of the field of psychology during the past 50 years with the story of his own research efforts of the same period and an analysis of what he terms 'the currently rocky romance between psychology and biology'. As Kagan unwinds his own history, he reveals the seminal events that have shaped his career and discusses how his assumptions have changed. With full appreciation for the contributions to psychology of history, philosophy, literature and neuroscience, he approaches a wide range of fascinating topics, including: the abandonment of orthodox forms of behaviourism and psychoanalysis; the forces that inspired later-twentieth-century curiosity about young children; why B. F. Skinner chose to study psychology; why the study of science less often ignites imaginations today; our society's obsession with erotic love; and, the resurgence of religious fanaticism and the religious Right. Embedded in Kagan's discussions is a rejection of the current notion that a mature neuroscience will eventually replace psychology. He argues that a complete understanding of brain is not synonymous with a full explanation of mind, and he concludes with a brief prediction of the next five decades in the field of psychology.
Author: Annamaria Kokenyne
Publisher: International Monetary Fund
ISBN: 1455201715
Category : Business & Economics
Languages : en
Pages : 53
Get Book Here
Book Description
This paper provides a summary of the key policies that encourage dedollarization. It focuses on cases in which the authorities’ intention is to gain greater control of monetary policy and draws on the experiences of countries that have successfully dedollarized. Unlike previous work on the subject, this paper examines both macroeconomic stabilization policies and microeconomic measures, such as prudential regulation of the financial system. This study is also the first attempt to make extensive use of the foreign exchange regulation data reported in the IMF’s Annual Report on Exchange Arrangements and Exchange Restrictions. The main conclusion is that durable dedollarization depends on a credible disinflation plan and specific microeconomic measures.
Author: Leonardo Auernheimer
Publisher: University of Chicago Press
ISBN: 0226032159
Category : Business & Economics
Languages : en
Pages : 342
Get Book Here
Book Description
As the globalization of financial markets continues, we urgently need to understand the crises that have plagued these markets and the policies best suited to preventing such crises in the future. In this book, a prominent group of economists and policymakers blend conceptual analysis and policy discussion in seven well-integrated papers, analyzing the nature of capital flows, alternative exchange-rate regimes, and the roles of international financial institutions. After a guided tour by the editor and a historical exploration, some of the world's leading theorists and policy analysts examine the benefits and pitfalls of capital movements and controls. In the second portion, papers examine the recent experiences of Argentina and Mexico, with Charles Calomiris—whose proposals for a new world financial architecture have elicited wide attention—contributing a response. The volume concludes with a roundtable discussion of the report of the International Financial Institutions Advisory Commission, in which the chair of the commission, Allan H. Meltzer, both comments on the report and responds to questions about it. The material presented here will become a standard reference for analysts, policymakers, and the interested general public. Contributors: Leonardo Auernheimer, Matthew Bishop, Michael D. Bordo, Charles Calomiris, Guillermo A. Calvo, Augustin Carstens, Michael P. Dooley, Pablo E. Guidotti, T. Britton Harris, John P. Lipsky, Guillermo Ortiz Martinez, Allan H. Meltzer, Andrew Powell, Rene Stulz, Carl E. Walsh
Author: Mr.Luis Ignacio Jácome
Publisher: International Monetary Fund
ISBN: 1455200654
Category : Business & Economics
Languages : en
Pages : 33
Get Book Here
Book Description
This paper identifies key aspects that countries willing to officially dollarize must necessarily address. Based on country experiences, it discusses the critical institutional bases that are necessary to unilaterally introduce a new legal tender, describes the relevant operational issues to smooth the transition toward the use of the new currency, and identifies key structural reforms that are necessary to favor the sustainability over time of this monetary regime. The paper is aimed at providing preliminary guidance to policy makers and practitioners adopting official dollarization. The paper does not take a position on how appropriate this monetary arrangement is. Experiences from adopting dollarization in Ecuador, El Salvador, Kosovo, Montenegro, and Timor-Leste are illustrated briefly.
Author: Mr.Adam Bennett
Publisher: International Monetary Fund
ISBN: 9781557757579
Category : Business & Economics
Languages : en
Pages : 62
Get Book Here
Book Description
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.
