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Title Financial dollarization : the policy agenda / edited by Adrián Armas, Alain Ize and Eduardo Levy Yeyati
Published Basingstoke [England] ; New York : Palgrave Macmillan ; [Washington, D.C.] : International Monetary Fund, 2006
©2006

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Description 1 online resource (xviii, 337 pages) : illustrations
Series Procyclicality of Financial Systems in Asia
Procyclicality of Financial Systems in Asia
Contents Preface; O. Dancourt & S. Ingves -- Introduction; A. Armas, A. Ize & E. Levy-Yeyati -- PART I: FINANCIAL DOLLARIZATION: ROOTS AND DYNAMICS -- Financial Dollarization Equalibria: A Framework for Policy Analysis; A. Ize -- Comments on Chapter 2; O. Jeanne -- Financial De-dollarization: Is it for Real? A. Ize & E. Levy-Yeyati -- Comments on Chapter 3; R. Chang -- Financial Dollarization in Latin America; R. Rennhack & M. Nozaki -- Comments on Chapter 4; K. Cowan -- PART II: MONETARY AND EXCHANGE RATE MANAGEMENT -- Exchange Rate and Monetary Management in a Partially Dollarized Economy; L. Leiderman, R. Maino & E. Parrado -- Targeting Inflation in a Dollarized Economy: The Peruvian Experience; A. Armas & F. Grippa -- Discussants; K. Schmidt-Hebbel -- PART III: PRUDENTIAL MANAGEMENT -- Controlling Currency Mismatches in Emerging Economies; P. Turner -- Prudential Management in a Partially Dollarized Economy: Toward Internationally Accepted Best Practices; J. Cayazzo, A.I.G. Pascual, E. Gutierrez & S. Heysen -- Managing Systematic Liquidity Risk in a Dollarized Economy; A. Ize, M. Kiguel & E. Levy-Yeyati -- To Hell and Back: Crisis Management in a Dollarized Economy: The Case of Uruguay; J.de Brun & G. Licandro -- Discussant; P. Turner -- PART IV: PROMOTING THE LOCAL CURRENCY -- Can Indexed Debt Absolve Original Sin? Going Indexed or is Self-Flagellation Needed? A. Holland & C. Mulder -- De-dollarizing: The Gentle Way or the Hard Way? D.C. Hardy & C. Pazarbasioglu -- Discussants; A.de La Torre, L. Oscar Herrera & C. Irigoyen -- PART V: THE ROUTE AHEAD -- Summary of Round Table Discussion; A. Carstens, F.de Paula Gutierrez, L. Leiderman, J.A. Morales, M. Rodlauer & R. Rossini
Financial dollarization / Adrian Armas, Alain Ize and Eduardo Levy Yeyati -- Financial dollarization equilibria / Alain Ize -- Financial de-dollarization / Alain Ize and Eduardo Levy Yeyati -- Financial dollarization in Latin America / Robert Rennhack and Masahiro Nozaki -- Inflation targeting in dollarized economies / Leonardo Leiderman, Rodolfo Maino and Eric Parrado -- Inflation targeting in a dollarized economy / Adrian Armas and Francisco Grippa -- The hell and back-crisis management in a dollarized economy / Julio de Brun and Gerardo Licandro -- Towards the effective supervision of partially dollarized banking systems / Jorge Cayazzo [and others] -- Managing system liquidity risk in financially dollarized economies / Alain Ize, Miguel A. Kiguel and Eduardo Levy Yeyati -- Can indexed debt absolve original sin? / Allison Holland and Christian Mulder -- De-dollarizing the hard way / Daniel C. Hardy and Ceyla Pazarbvasioglu -- Currency mismatches and domestic liability dollarization / Philip Turner -- Round table: policy options and strategies for dollarized economies
Summary Financial (unofficial) dollarization is widely regarded as the key source of financial fragility underlying recent financial crises in Asia and Latin America. Currently one of the most topical issues in the developing world, it has spurred in recent years a body of analytical and empirical work that has shifted the debate towards a more proactive de-dollarization agenda that is already informing policy decisions in many developing economies. This book is the first to address this new agenda from a comprehensive, policy-oriented perspective. It specifically addresses the most distinctive aspects and policy implications of the financial dollarization debate. The book covers analytical and empirical advances on the causes and implications of financial dollarization, the policy options to mitigate its negative effects, and recent experiences in adapting the monetary and prudential frameworks to a dollarized environment, developing local-currency substitutes, and limiting dollarization through administrative restrictions
Bibliography Includes bibliographical references and index
Subject Monetary policy -- Developing countries
Currency question -- Developing countries
Monetary economics.
Development economics.
BUSINESS & ECONOMICS -- Foreign Exchange.
Economics.
Currency question
Economic policy
Monetary policy
SUBJECT Developing countries -- Economic policy
Subject Developing countries
Form Electronic book
Author Armas, Adrián, 1965- editor.
Ize, Alain, editor.
Levy Yeyati, Eduardo, editor.
LC no. 2006041757
ISBN 9780230380257
0230380255
1403987599
9781403987594
146391413X
9781463914134