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Financial De-Dollarization: Is It for Real?

Author/Editor: Ize, Alain | Levy Yeyati, Eduardo | International Monetary Fund. Monetary and Financial Systems Dept.
Authorized for Distribution: September 1, 2005
Electronic Access: Free Full Text (PDF file size is 428KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: De facto (unofficial) dollarization, defined as the holding by residents of assets and liabilities denominated in a foreign currency, is a policy concern in an increasing number of developing economies. This paper addresses the dollarization debate from this perspective, with the goal of setting the stage for a more detailed and focused discussion of whether de-dollarization should be a policy objective and, if so, how best to pursue this objective. We review existing theories of de facto dollarization and the extent to which they are supported by the available evidence, presents the main strategies for reform, and proposes a list of policy recommendations.
 
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Series: Working Paper No. 05/187
Subject(s): Dollarization | Monetary policy
Author's keyword(s): Dollarization | Monetary policy | Prudential policy
 
English  
    Published:   September 1, 2005        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA2005187   Pages:   31
    Price:   US$15.00 (Academic Rate: US$15.00 )
       
     
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