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Dollarization in Latin America
Miguel A. Savastano
其他書名
Recent Evidence and Some Policy Issues
出版International Monetary Fund, 1996
主題Business & Economics / Banks & BankingBusiness & Economics / InflationBusiness & Economics / Money & Monetary Policy
ISBN145184199X9781451841992
URLhttp://books.google.com.hk/books?id=p6S3AAAAIAAJ&hl=&source=gbs_api
註釋This paper examines the pattern of dollarization in Latin America, focusing on the experience of five countries (Argentina, Bolivia, Mexico, Peru and Uruguay) during 1970-1993. It presents evidence on the relative size of dollarization, the allocation of foreign currency deposits, and the behavior of money velocity. The discussion stresses the role of institutional factors, macroeconomic conditions, and the dynamics of money demand In shaping the dollarization process; it also highlights the shortcomings of indicators frequently employed to analyze the phenomenon. The paper provides a brief critical assessment of the empirical literature on dollarization, and identifies areas where further research seems warranted.