Dollarization and exchange rate fluctuations / Patrick Honohan
- Bib ID:
- 4199919
- Format:
- Book
- Author:
- Honohan, Patrick
- Online Version:
- http://go.worldbank.org/R30EB6OHK0
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- Description:
-
- [Washington, D.C.] : World Bank, Development Research Group, Finance and Private Sector Development Team, [2007]
- 23 p. : ill. ; 28 cm.
- Series:
- Policy research working papers ; 4172.
- Summary:
-
"Although the worldwide growth in dollarization of bank deposits has recently slowed, it has already reached very high levels in dozens of countries. Building on earlier findings that allowed the main cross-country variations in the share of dollars to be explained in terms of national policies and institutions, this paper turns to analysis of short-run variations, particularly the response of dollarization to exchange rate changes, which is shown to be too small to warrant "fear of floating" by dollarized economies. But high dollarization is shown to increase the risk of depreciation and even suspension, as indicated by interest rate spreads. While specific policy is needed to deal with the risks associated with dollarization, the underlying causes of unwanted dollarization should also be tackled."
- Notes:
-
- "March 2007"--Cover.
- Includes bibliographical references (p. 23).
- Also available in an electronic version.
- Subject:
- Other authors/contributors:
- World Bank. Development Research Group. Finance and Private Sector Development Team
- Copyright:
-
In Copyright
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Copyright status was determined using the following information:
- Material type:
- Literary Dramatic Musical
- Published status:
- Published
- Publication date:
- 2007
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