Dollarization and Financial Development - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Dollarization and Financial Development write by Mr.Geoffrey J Bannister. This book was released on 2018-09-11. Dollarization and Financial Development available 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.
Financial Development, Exchange Rate Fluctuations and Debt Dollarization: A Firm-Level Evidence
Financial Development, Exchange Rate Fluctuations and Debt Dollarization: A Firm-Level Evidence - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Financial Development, Exchange Rate Fluctuations and Debt Dollarization: A Firm-Level Evidence write by Minsuk Kim. This book was released on 2019-08-02. Financial Development, Exchange Rate Fluctuations and Debt Dollarization: A Firm-Level Evidence available in PDF, EPUB and Kindle. This paper examines how financial development influences the debt dollarization of nonfinancial firms in a sample of emerging market economies (EMEs). The macroeconomic channels are identified from an optimal portfolio allocation model and assessed empirically using the accounting information of nonfinancial firms from 21 EMEs during 2009–2017. The results show that financial development, measured by the private credit-to-GDP ratio, mainly reduces the influence of exchange rate volatility in determining a firm's debt currency composition, among other channels. Furthermore, the effect of exchange rate volatility becomes statistically insignificant beyond an estimated threshold credit-to-GDP ratio of 100 percent.
Dollarization
Dollarization - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Dollarization write by Eduardo Levy Yeyati. This book was released on 2003. Dollarization available in PDF, EPUB and Kindle. 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.
Cambodian Dollarization
Cambodian Dollarization - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Cambodian Dollarization write by Hidenobu Okuda. This book was released on 2023-09-07. Cambodian Dollarization available in PDF, EPUB and Kindle. This book is the first study to provide a comprehensive picture of the reality and structure of dollarization in Cambodia, which has been achieving rapid economic and financial development since the end of 1998, when full piece reigned over the kingdom. It uses the micro-level data collected through nationwide surveys conducted jointly by the National Bank of Cambodia and JICA Ogata Sadako Research Institute in 2014 and 2017. By applying econometric analysis to collected data, the book analyses in detail the structures and mechanisms of dollarization in households, companies, and financial institutions. It also provides detailed information on the historical development of Cambodian dollarization, international comparisons with various cases of dollarization in countries around the world, and the impact of NBC's digital payment platforms (particularly Bakong) on the use of local and foeign currencies. The Cambodian case shows that financial development of low- and middle-income countries is promoted mutually by dollarization and that policies to separate the two are necessary to curb dollarization. This book will be of interest to students, researchers and policy-makers concerned with dollarization and economics in Southeast Asia.
Financial Dollarization
Financial Dollarization - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Financial Dollarization write by A. Armas. This book was released on 2006-07-14. Financial Dollarization available 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.
