LEADER 05541oam  22014414  450 
001 9910788519703321
005 20230828232604.0
010   $a1-4623-1349-3
010   $a1-4527-6024-1
010   $a1-282-59045-6
010   $a9786613822635
010   $a1-4519-0803-2
035   $a(CKB)3360000000443298
035   $a(EBL)3012585
035   $a(SSID)ssj0000940804
035   $a(PQKBManifestationID)11492018
035   $a(PQKBTitleCode)TC0000940804
035   $a(PQKBWorkID)10955946
035   $a(PQKB)11484120
035   $a(OCoLC)535147017
035   $a(MiAaPQ)EBC3012585
035   $a(IMF)WPIEE2006007
035   $a(EXLCZ)993360000000443298
100   $a20020129d2006      uf             0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aFinancial Dollarization in Latin America /$fRobert Rennhack, Masahiro Nozaki
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2006.
215   $a1 online resource (36 p.)
225 1 $aIMF Working Papers
300   $aDescription based upon print version of record.
311   $a1-4518-6267-9 
320   $aIncludes bibliographical references.
327   $a""Contents""; ""I. INTRODUCTION""; ""II. TRENDS IN FINANCIAL DOLLARIZATION""; ""III. FINANCIAL DOLLARIZATION AS A RATIONAL RESPONSE TO INFLATION""; ""IV. THE ROLE OF CREDIT RISK""; ""V. CONCLUDING REMARKS""; ""APPENDIX I""; ""APPENDIX II""; ""REFERENCES""
330 3 $aThis paper tests several explanations for financial dollarization (FD), with an emphasis on Latin America. The results provide evidence that FD is a rational response to inflation uncertainty. The paper builds on previous research by finding that an exchange rate policy biased towards currency depreciation and currency mismatches tends to contribute to high FD and that FD is highly persistent. These results suggest that countries with significant FD should encourage the use of domestic currency by maintaining macroeconomic stability; allowing more exchange rate flexibility and less bias towards currency depreciation; and adapting prudential regulations to ensure that costs associated with FD are fully internalized in financial contracts. At the same time, restoring confidence in the domestic currency may take many years of sound policies.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2006/007
606   $aMonetary policy$zLatin America
606   $aCurrency question$zLatin America
606   $aBanks and Banking$2imf
606   $aForeign Exchange$2imf
606   $aInflation$2imf
606   $aMoney and Monetary Policy$2imf
606   $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf
606   $aPortfolio Choice$2imf
606   $aInvestment Decisions$2imf
606   $aFinancial Institutions and Services: General$2imf
606   $aMonetary Systems$2imf
606   $aStandards$2imf
606   $aRegimes$2imf
606   $aGovernment and the Monetary System$2imf
606   $aPayment Systems$2imf
606   $aBanks$2imf
606   $aDepository Institutions$2imf
606   $aMicro Finance Institutions$2imf
606   $aMortgages$2imf
606   $aDevelopment Planning and Policy: Trade Policy$2imf
606   $aFactor Movement$2imf
606   $aForeign Exchange Policy$2imf
606   $aPrice Level$2imf
606   $aDeflation$2imf
606   $aMonetary economics$2imf
606   $aBanking$2imf
606   $aCurrency$2imf
606   $aForeign exchange$2imf
606   $aMacroeconomics$2imf
606   $aCurrencies$2imf
606   $aDollarization$2imf
606   $aBank deposits$2imf
606   $aExchange rate policy$2imf
606   $aMoney$2imf
606   $aMonetary policy$2imf
606   $aFinancial services$2imf
606   $aPrices$2imf
606   $aBanks and banking$2imf
607   $aBrazil$2imf
615  0$aMonetary policy
615  0$aCurrency question
615  7$aBanks and Banking
615  7$aForeign Exchange
615  7$aInflation
615  7$aMoney and Monetary Policy
615  7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General
615  7$aPortfolio Choice
615  7$aInvestment Decisions
615  7$aFinancial Institutions and Services: General
615  7$aMonetary Systems
615  7$aStandards
615  7$aRegimes
615  7$aGovernment and the Monetary System
615  7$aPayment Systems
615  7$aBanks
615  7$aDepository Institutions
615  7$aMicro Finance Institutions
615  7$aMortgages
615  7$aDevelopment Planning and Policy: Trade Policy
615  7$aFactor Movement
615  7$aForeign Exchange Policy
615  7$aPrice Level
615  7$aDeflation
615  7$aMonetary economics
615  7$aBanking
615  7$aCurrency
615  7$aForeign exchange
615  7$aMacroeconomics
615  7$aCurrencies
615  7$aDollarization
615  7$aBank deposits
615  7$aExchange rate policy
615  7$aMoney
615  7$aMonetary policy
615  7$aFinancial services
615  7$aPrices
615  7$aBanks and banking
700   $aRennhack$b Robert$01462072
701   $aNozaki$b Masahiro$01462073
801  0$bDcWaIMF
906   $aBOOK
912   $a9910788519703321
996   $aFinancial Dollarization in Latin America$93670920
997   $aUNINA