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Cover Art
Author De Nicolo, Gianni.

Title Dollarization of the Banking System [electronic resource] : Good or Bad? / Gianni De Nicolo.

Published Washington, D.C. : International Monetary Fund, 2003.


Location Call No. Status
Physical description 1 online resource (43 p.)
Series IMF Working Papers; Working Paper ; No. 03/146
IMF Working Papers; Working Paper ; No. 03/146
Summary 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.
Notes Description based on print version record.
Other author De Nicolo, Gianni.
Honohan, Patrick.
Ize, Alain.
Subject Financial Aspects of Economic Integration
Financial Deepening
Financial Instability
Foreign Currency
Foreign Exchange
ISBN 1451856660 : 15.00 USD
ISSN 1018-5941
Standard Number 10.5089/9781451856668.001