LEADER 05177oam 22013094 450 001 9910788519003321 005 20230828232524.0 010 $a1-4623-1348-5 010 $a1-4527-7840-X 010 $a1-282-58992-X 010 $a9786613822574 010 $a1-4519-0877-6 035 $a(CKB)3360000000443292 035 $a(EBL)3014492 035 $a(SSID)ssj0000940036 035 $a(PQKBManifestationID)11576137 035 $a(PQKBTitleCode)TC0000940036 035 $a(PQKBWorkID)10939166 035 $a(PQKB)10466364 035 $a(OCoLC)694141175 035 $a(MiAaPQ)EBC3014492 035 $a(IMF)WPIEE2006082 035 $a(EXLCZ)993360000000443292 100 $a20020129d2006 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aAdopting Full Dollarization in Postconflict Economies : $eWould the Gains Compensate for the Losses in Liberia? /$fLiliana Schumacher, Jiro Honda 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (25 p.) 225 1 $aIMF Working Papers 300 $a"March 2006." 311 $a1-4518-6342-X 320 $aIncludes bibliographical references. 327 $a""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"" 330 3 $aThis paper discusses whether adopting the U.S. dollar as the sole legal tender could help Liberia, a postconflict economy, to boost growth and strengthen fiscal discipline. In view of the performance of exchange rate regimes in many countries and Liberia's own experience with dollarization, we conclude that Liberia should not adopt full dollarization for the following reasons: (i) the alleged benefits voiced by the proponents of dollarization, in terms of enhanced fiscal discipline and faster economic growth, are not supported by the empirical evidence; (ii) dollarization would increase the Liberian economy's vulnerability to external shocks and Liberia's social fragility; (iii) banks in fully dollarized economies face additional capitalization requirements that Liberian banks cannot meet at present; and (iv) dollarization would be costly in terms of real resources because of the loss of seigniorage. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2006/082 606 $aDollar, American 606 $aMonetary policy$zLiberia 606 $aBanks and Banking$2imf 606 $aForeign Exchange$2imf 606 $aMoney and Monetary Policy$2imf 606 $aPublic Finance$2imf 606 $aMonetary Systems$2imf 606 $aStandards$2imf 606 $aRegimes$2imf 606 $aGovernment and the Monetary System$2imf 606 $aPayment Systems$2imf 606 $aDebt$2imf 606 $aDebt Management$2imf 606 $aSovereign Debt$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aMonetary economics$2imf 606 $aCurrency$2imf 606 $aForeign exchange$2imf 606 $aPublic finance & taxation$2imf 606 $aBanking$2imf 606 $aCurrencies$2imf 606 $aExchange rate arrangements$2imf 606 $aDollarization$2imf 606 $aGovernment asset and liability management$2imf 606 $aMoney$2imf 606 $aMonetary policy$2imf 606 $aFinance, Public$2imf 606 $aBanks and banking$2imf 607 $aLiberia$xEconomic conditions 607 $aLiberia$xEconomic policy 607 $aLiberia$2imf 615 0$aDollar, American. 615 0$aMonetary policy 615 7$aBanks and Banking 615 7$aForeign Exchange 615 7$aMoney and Monetary Policy 615 7$aPublic Finance 615 7$aMonetary Systems 615 7$aStandards 615 7$aRegimes 615 7$aGovernment and the Monetary System 615 7$aPayment Systems 615 7$aDebt 615 7$aDebt Management 615 7$aSovereign Debt 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aMonetary economics 615 7$aCurrency 615 7$aForeign exchange 615 7$aPublic finance & taxation 615 7$aBanking 615 7$aCurrencies 615 7$aExchange rate arrangements 615 7$aDollarization 615 7$aGovernment asset and liability management 615 7$aMoney 615 7$aMonetary policy 615 7$aFinance, Public 615 7$aBanks and banking 700 $aSchumacher$b Liliana$01462059 701 $aHonda$b Jiro$01462060 712 02$aInternational Monetary Fund.$bAfrican Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788519003321 996 $aAdopting Full Dollarization in Postconflict Economies$93670913 997 $aUNINA