05177oam 22013094 450 991078851900332120230828232524.01-4623-1348-51-4527-7840-X1-282-58992-X97866138225741-4519-0877-6(CKB)3360000000443292(EBL)3014492(SSID)ssj0000940036(PQKBManifestationID)11576137(PQKBTitleCode)TC0000940036(PQKBWorkID)10939166(PQKB)10466364(OCoLC)694141175(MiAaPQ)EBC3014492(IMF)WPIEE2006082(EXLCZ)99336000000044329220020129d2006 uf 0engur|n|---|||||txtccrAdopting Full Dollarization in Postconflict Economies : Would the Gains Compensate for the Losses in Liberia? /Liliana Schumacher, Jiro HondaWashington, D.C. :International Monetary Fund,2006.1 online resource (25 p.)IMF Working Papers"March 2006."1-4518-6342-X Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. PROS OF DOLLARIZATION: ANALYTICAL CONSIDERATIONS AND EMPIRICAL EVIDENCE""; ""III. CONS OF DOLLARIZATION""; ""IV. CHOICES OF CURRENCY REGIMES IN POSTCONFLICT COUNTRIES""; ""V. CONCLUSIONS: IS LIBERIA A CANDIDATE FOR FULL, DE JURE DOLLARIZATION?""; ""References""This paper discusses whether adopting the U.S. dollar as the sole legal tender could help Liberia, a postconflict economy, to boost growth and strengthen fiscal discipline. In view of the performance of exchange rate regimes in many countries and Liberia's own experience with dollarization, we conclude that Liberia should not adopt full dollarization for the following reasons: (i) the alleged benefits voiced by the proponents of dollarization, in terms of enhanced fiscal discipline and faster economic growth, are not supported by the empirical evidence; (ii) dollarization would increase the Liberian economy's vulnerability to external shocks and Liberia's social fragility; (iii) banks in fully dollarized economies face additional capitalization requirements that Liberian banks cannot meet at present; and (iv) dollarization would be costly in terms of real resources because of the loss of seigniorage.IMF Working Papers; Working Paper ;No. 2006/082Dollar, AmericanMonetary policyLiberiaBanks and BankingimfForeign ExchangeimfMoney and Monetary PolicyimfPublic FinanceimfMonetary SystemsimfStandardsimfRegimesimfGovernment and the Monetary SystemimfPayment SystemsimfDebtimfDebt ManagementimfSovereign DebtimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfMonetary economicsimfCurrencyimfForeign exchangeimfPublic finance & taxationimfBankingimfCurrenciesimfExchange rate arrangementsimfDollarizationimfGovernment asset and liability managementimfMoneyimfMonetary policyimfFinance, PublicimfBanks and bankingimfLiberiaEconomic conditionsLiberiaEconomic policyLiberiaimfDollar, American.Monetary policyBanks and BankingForeign ExchangeMoney and Monetary PolicyPublic FinanceMonetary SystemsStandardsRegimesGovernment and the Monetary SystemPayment SystemsDebtDebt ManagementSovereign DebtBanksDepository InstitutionsMicro Finance InstitutionsMortgagesMonetary economicsCurrencyForeign exchangePublic finance & taxationBankingCurrenciesExchange rate arrangementsDollarizationGovernment asset and liability managementMoneyMonetary policyFinance, PublicBanks and bankingSchumacher Liliana1462059Honda Jiro1462060International Monetary Fund.African Dept.DcWaIMFBOOK9910788519003321Adopting Full Dollarization in Postconflict Economies3670913UNINA