Understanding Dollarization Causes and Impact of Partial Dollarization on Developing and Emerging Markets
Free Download Emre Ozsoz, "Understanding Dollarization: Causes and Impact of Partial Dollarization on Developing and Emerging Markets"
English | ISBN: 3110442183 | 2016 | 139 pages | EPUB, PDF | 17 MB + 3 MB
A very commonly observed phenomenon in developing and emerging market economies is the use of another country's currency (whether the US dollar or another currency) in lieu or in addition to the local currency. The most common type of this financial phenomenon is partial (de facto) dollarization where foreign currencies are used side by side with local currency for saving and borrowing purposes in addition to serving as medium of exchange.
Governments in these countries have been encouraging dollarization for years by allowing their citizens to save and borrow from local banks in foreign currency. Yet the existence of multiple currencies on banks' balance sheets on both the asset and liability side poses risks to the health and stability of the banking system.
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