Economic Policy in a Highly Dollarized Economy - 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 Economic Policy in a Highly Dollarized Economy write by International Monetary Fund. This book was released on 2003-09-30. Economic Policy in a Highly Dollarized Economy available in PDF, EPUB and Kindle. This study examines the challenges and issues facing policymakers in highly dollarized economies. Focusing on Cambodia, which achieved almost complete dollarization during 1991-95, the authors review recent developments in the literature on dollarization and examine the costs and benefits of dollarization in Cambodia, including the ensuing macroeconomic policy implications. They carry out an econometric estimation of cash foreign currency circulation in Cambodia in order to gauge the degree of dollarization. In addition to this analysis, the authors present a short description of Cambodia’s economic, financial, and structural background.
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.
Monetary Policy in Dollarized Economies
Monetary Policy in Dollarized Economies - 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 Monetary Policy in Dollarized Economies write by Mr.Adam Bennett. This book was released on 1999-03-15. Monetary Policy in Dollarized Economies available 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.
Inflation Targeting in Dollarized Economies
Inflation Targeting in Dollarized Economies - 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 Inflation Targeting in Dollarized Economies write by Leonardo Leiderman. This book was released on 2006. Inflation Targeting in Dollarized Economies available in PDF, EPUB and Kindle. The shift to inflation targeting has contributed to the relatively low inflation observed in some emerging market economies although, as noted by many economists, the preconditions required for a successful implementation were not in place. The existence of managed exchange rate regimes, a narrow base of domestic nominal financial assets, the lack of market instruments to hedge exchange rate risks, together with fear of floating and dollarization, have been stressed as factors that might weaken the efficacy of monetary policy. By examining various aspects of monetary transmission and policy formulation in two highly dollarized economies (Peru and Bolivia) vis-à-vis two economies with low levels of dollarization (Chile and Colombia), we found that, while dollarization imposes differences in both the transmission capacity of monetary policy and its impact on real and financial sectors, it does not preclude the use of inflation targeting as a policy regime.
The Choice of Exchange Rate Regime and Monetary Target in Highly Dollarized Economies
The Choice of Exchange Rate Regime and Monetary Target in Highly Dollarized Economies - 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 The Choice of Exchange Rate Regime and Monetary Target in Highly Dollarized Economies write by Eduardo Borensztein. This book was released on 2000-02. The Choice of Exchange Rate Regime and Monetary Target in Highly Dollarized Economies available in PDF, EPUB and Kindle. We examine the implications of high degrees of dollarization for the choice of exchange rate regime and the information content of various monetary aggregates in developing countries. We conclude that a high degree of currency substitution argues for a more fixed exchange rate regime, while asset substitution may imply that either more rigid or more flexible regimes may be appropriate. We also ask whether the most informative monetary aggregates include dollar assets. Based on an analysis of five countries, we conclude inter alia that broader aggregates that include dollar assets perform better than those that do not.
