Dollarization Of The Banking System
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Author | : Patrick Honohan |
Publisher | : World Bank Publications |
Total Pages | : 52 |
Release | : 2003 |
Genre | : Banks and banking |
ISBN | : |
Download Dollarization of the Banking System Book in PDF, Epub and Kindle
De Nicolo, Honohan, and Ize assess the benefits and risks associated with dollarization of the banking system. The authors provide novel empirical evidence on the determinants of dollarization, its role in promoting financial development, and on whether dollarization is associated with financial instability. They find that: The credibility of macroeconomic policy and the quality of institutions are both key determinants of cross-country variations in dollarization. Dollarization is likely to promote financial deepening only in a high inflation environment. Financial instability is likely higher in dollarized economies. The authors discuss the implications of these findings for financial sector and monetary policies.
Author | : Mr.Gianni De Nicolo |
Publisher | : International Monetary Fund |
Total Pages | : 45 |
Release | : 2003-07-01 |
Genre | : Business & Economics |
ISBN | : 1451856660 |
Download Dollarization of the Banking System Book in PDF, Epub and Kindle
This paper assesses the benefits and risks associated with dollarization of the banking system. We provide novel empirical evidence on the determinants of dollarization, its role in promoting financial development, and on whether dollarization is associated with financial instability. We find that: (a) the credibility of macroeconomic policy and the quality of institutions are both key determinants of cross-country variations in dollarization; (b) dollarization is likely to promote financial deepening only in a high inflation environment; and (c) financial instability is likely higher in dollarized economies. The implications of these findings for financial sector and monetary policies are discussed.
Author | : A. Armas |
Publisher | : Springer |
Total Pages | : 349 |
Release | : 2006-07-14 |
Genre | : Business & Economics |
ISBN | : 0230380255 |
Download Financial Dollarization Book in PDF, Epub and Kindle
This volume provides a rigorous and balanced perspective on the causes and implications of dollarization, and the basic policies and options to deal with it: the adaptation of the monetary and prudential frameworks, the development of local-currency substitutes, and the scope for limiting dollarization through administrative restrictions.
Author | : Gianni De Nicolo |
Publisher | : |
Total Pages | : 43 |
Release | : 2016 |
Genre | : |
ISBN | : |
Download Dollarization of the Banking System Book in PDF, Epub and Kindle
De Nicolo, Honohan, and Ize assess the benefits and risks associated with dollarization of the banking system. The authors provide novel empirical evidence on the determinants of dollarization, its role in promoting financial development, and on whether dollarization is associated with financial instability. They find that:- The credibility of macroeconomic policy and the quality of institutions are both key determinants of cross-country variations in dollarization.- Dollarization is likely to promote financial deepening only in a high inflation environment.- Financial instability is likely higher in dollarized economies.The authors discuss the implications of these findings for financial sector and monetary policies.This paper - a joint product of Finance, Development Research Group, and the Monetary and Financial Systems Department, International Monetary Fund - is part of a larger effort to examine institutional determinants of financial development and stability.
Author | : Mr.Geoffrey J Bannister |
Publisher | : International Monetary Fund |
Total Pages | : 39 |
Release | : 2018-09-11 |
Genre | : Business & Economics |
ISBN | : 1484373367 |
Download Dollarization and Financial Development Book in PDF, Epub and Kindle
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.
Author | : Tomás J. T. Baliño |
Publisher | : International Monetary Fund |
Total Pages | : 60 |
Release | : 1999 |
Genre | : Business & Economics |
ISBN | : |
Download Monetary Policy in Dollarized Economies Book in PDF, Epub and Kindle
"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.
Author | : Mr.Luis Ignacio Jácome |
Publisher | : International Monetary Fund |
Total Pages | : 33 |
Release | : 2010-04-01 |
Genre | : Business & Economics |
ISBN | : 1455200654 |
Download Implementing Official Dollarization Book in PDF, Epub and Kindle
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 | : David E. Altig |
Publisher | : Cambridge University Press |
Total Pages | : 342 |
Release | : 2003-09-11 |
Genre | : Business & Economics |
ISBN | : 9781139440066 |
Download Evolution and Procedures in Central Banking Book in PDF, Epub and Kindle
This volume collects the proceedings from a conference on the evolution and practice of central banking sponsored by the Central Bank Institute of the Federal Reserve Bank of Cleveland. The articles and discussants' comments in this volume largely focus on two questions: the need for central banks, and how to maintain price stability once they are established. The questions addressed include whether large banks (or coalitions of small banks) can substitute for government regulation and due central bank liquidity provision; whether the future will have fewer central banks or more; the possibility of private means to deliver a uniform currency; if competition across sovereign currencies can ensure global price stability; the role of learning (and unlearning) the lessons of the past inflationary episodes in understanding central bank behavior; and an analysis of the European Central Bank.
Author | : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs. Subcommittee on Economic Policy |
Publisher | : |
Total Pages | : 74 |
Release | : 1999 |
Genre | : Business & Economics |
ISBN | : |
Download Official Dollarization in Emerging-market Countries Book in PDF, Epub and Kindle
Author | : Emre Ozsoz |
Publisher | : Walter de Gruyter GmbH & Co KG |
Total Pages | : 140 |
Release | : 2016-05-24 |
Genre | : Business & Economics |
ISBN | : 3110437023 |
Download Understanding Dollarization Book in PDF, Epub and Kindle
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.