Adopting Full Dollarization in Postconflict Economies : : Would the Gains Compensate for the Losses in Liberia? / / Liliana Schumacher, Jiro Honda

• Autore: Schumacher Liliana
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2006
• Descrizione fisica: 1 online resource (25 p.)
• Soggetto topico: Dollar, American; Monetary policy - Liberia; Banks and Banking; Foreign Exchange; Money and Monetary Policy; Public Finance; Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems; Debt; Debt Management; Sovereign Debt; Banks; Depository Institutions; Micro Finance Institutions; Mortgages; Monetary economics; Currency; Foreign exchange; Public finance & taxation; Banking; Currencies; Exchange rate arrangements; Dollarization; Government asset and liability management; Money; Monetary policy; Finance, Public; Banks and banking
• Soggetto geografico: Liberia Economic conditions; Liberia Economic policy; Liberia
• Altri autori: HondaJiro
• Note generali: "March 2006."
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: ""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""
• Sommario/riassunto: 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.
• Titolo autorizzato: Adopting Full Dollarization in Postconflict Economies
• ISBN: 1-4623-1348-5; 1-4527-7840-X; 1-282-58992-X; 9786613822574; 1-4519-0877-6
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910788519003321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2006/082