This file is part of IDEAS , which uses RePEc data
[ Papers |
Articles |
Software |
Books |
Chapters |
Authors |
Institutions |
JEL Classification |
NEP reports |
Search |
New papers by email |
Author registration |
Rankings |
Volunteers |
FAQ |
Blog |
Help! ]
Official dollarisation/euroisation - motives, features and policy implications of current cases Author info | Abstract | Publisher info | Download info | Related research | Statistics Adalbert Winkler () (European Central Bank, Kaiserstrasse 29, 60311 Frankfurt am Main, Germany. )
Francesco Mazzaferro () (European Central Bank, Kaiserstrasse 29, 60311 Frankfurt am Main, Germany. )
Carolin Nerlich () (European Central Bank, Kaiserstrasse 29, 60311 Frankfurt am Main, Germany. )
Christian Thimann () (European Central Bank, Kaiserstrasse 29, 60311 Frankfurt am Main, Germany. )
Additional information is available for the following
registered author(s):
Official and unilateral dollarisation/euroisation has become a common policy advice for emerging market economies. Against this background, the paper provides a comprehensive review of all the main cases of dollarisation/euroisation, analysing motives, features and policy implications of this exchange rate regime. The main results are that policies fostering integration with the anchor country, in particular fiscal transfers, tourism and offshore finance, have been crucial in supporting the exchange rate regime. To this end, most dollarised/euroised countries have exploited advantages that are largely prior to the choice of exchange rate regime, namely their small size, geographic proximity to the anchor country, and politically dependent status. Thus, recommending dollarisation/euroisation irrespective of countries’ ex ante degree of integration with the potential anchor country seems to bear considerable risks, as dollarisation/euroisation does not seem to be a straightforward substitute for integration.
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page . Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Paper provided by European Central Bank in its series Occasional Paper Series with number
11.
Download reference. The following formats are available: HTML
(with abstract ),
plain text
(with abstract ),
BibTeX ,
RIS (EndNote, RefMan, ProCite),
ReDIF
Length: 61 pages
Date of creation: Feb 2004Date of revision:
Handle: RePEc:ecb:ecbops:20040011Contact details of provider: Postal: Postfach 16 03 19, Frankfurt am Main, Germany Phone: +49 69 1344 0 Fax: +49 69 1344 6000 Web page: http://www.ecb.europa.eu/home/html/index.en.html More information through EDIRC
Order Information: Postal: Press and Information Division, European Central Bank, Kaiserstrasse 29, 60311 Frankfurt am Main, Germany Email:
For technical questions regarding this item, or to correct its listing, contact: (Official Publications).
Keywords: Other versions of this item:
This paper has been announced in the following NEP Reports :
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Caprio, Gerard & Honohan, Patrick, 2001.
"Finance for Growth: Policy Choices in a Volatile World ,"
MPRA Paper
9929, University Library of Munich, Germany.
[Downloadable!]
Lawrence H. Summers, 2000.
"International Financial Crises: Causes, Prevention, and Cures ,"
American Economic Review ,
American Economic Association, vol. 90(2), pages 1-16, May.
[Downloadable!] (restricted)
Andrew K. Rose, 2000.
"One money, one market: the effect of common currencies on trade ,"
Economic Policy ,
CEPR, CES, MSH, vol. 15(30), pages 7-46, 04.
[Downloadable!] (restricted)
Andrew K. Rose & Charles Engel, 2000.
"Currency Unions and International Integration ,"
NBER Working Papers
7872, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Engel, Charles M & Rose, Andrew K, 2001.
"Currency Unions and International Integration ,"
CEPR Discussion Papers
2659, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Rose, Andrew K & Engel, Charles, 2002.
"Currency Unions and International Integration ,"
Journal of Money, Credit and Banking ,
Blackwell Publishing, vol. 34(4), pages 1067-89, November.
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Christian Thimann & Regine Wölfinger & Thierry Bracke & Rita Bessone Basto & Ole Hollensen & Stephan von Stenglin & Santiago Fernández de Lis & Pierre-François Weber & Marco Committeri & Rolf Pauli, 2005.
"Managing financial crises in emerging market economies - experience with the involvement of private sector creditors ,"
Occasional Paper Series
32, European Central Bank.
[Downloadable!]
Maria Gabriella Briotti, 2005.
"Economic reactions to public finance consolidation - a survey of the literature ,"
Occasional Paper Series
38, European Central Bank.
[Downloadable!]
Frank Dierick & Fatima Pires & Martin Scheicher & Kai Gereon Spitzer, 2005.
"The New Basel Capital Framework and its implementation in the European Union ,"
Occasional Paper Series
42, European Central Bank.
[Downloadable!]
Leena Mörttinen & Paolo Poloni & Patrick Sandars & Jukka Vesala, 2005.
"Analysing banking sector conditions - how to use macro-prudential indicators ,"
Occasional Paper Series
26, European Central Bank.
[Downloadable!]
André Geis & Arnaud Mehl & Stefan Wredenborg, 2004.
"The international role of the euro - evidence from bonds issued by non-euro area residents ,"
Occasional Paper Series
18, European Central Bank.
[Downloadable!]
Heiko Schmiedel & Andreas Schönenberger, 2005.
"Integration of securities market infrastructures in the euro area ,"
Occasional Paper Series
33, European Central Bank.
[Downloadable!]
Andreas Hauskrecht & Nguyen Thanh Hai, 2004.
"Dollarization in Viet Nam ,"
Working Papers
2004-25, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
[Downloadable!]
Henrik Enderlein & Johannes Lindner & Oscar Calvo-Gonzalez & Raymond Ritter, 2005.
"The EU budget – how much scope for institutional reform? ,"
Occasional Paper Series
27, European Central Bank.
[Downloadable!]
Other versions: Daniela Russo & Terry L. Hart & M. C. Malaguti & Chryssa Papathanassiou, 2004.
"Governance of securities clearing and settlement systems ,"
Occasional Paper Series
21, European Central Bank.
[Downloadable!]
Adalbert Winkler & Roland Beck, 2006.
"Macroeconomic and financial stability challenges for acceding and candidate countries ,"
Occasional Paper Series
48, European Central Bank.
[Downloadable!]
Neven T. Valev, 2005.
"From a currency board to the euro: Public attitudes toward unilateral euroization in Bulgaria ,"
William Davidson Institute Working Papers Series
wp736, William Davidson Institute at the University of Michigan Stephen M. Ross Business School.
[Downloadable!]
Reiner Martin & Moreno Roma & Isabel Vansteenkiste, 2005.
"Regulatory reforms in selected EU network industries ,"
Occasional Paper Series
28, European Central Bank.
[Downloadable!]
Neven Valev, 2004.
"From a Currency Board to the Euro: Public Attitudes toward Unilateral Euroization in Bulgaria ,"
International Studies Program Working Paper Series, at AYSPS, GSU
paper0423, International Studies Program, Andrew Young School of Policy Studies, Georgia State University.
[Downloadable!]
Lieven Baele & Annalisa Ferrando & Peter Hördahl & Elizaveta Krylova & Cyril Monnet, 2004.
"Measuring financial integration in the euro area ,"
Occasional Paper Series
14, European Central Bank.
[Downloadable!]
Guido Wolswijk & Jakob de Haan, 2005.
"Government debt management in the euro area - recent theoretical developments and changes in practices ,"
Occasional Paper Series
25, European Central Bank.
[Downloadable!]
Filippo Altissimo & Evaggelia Georgiou & Teresa Sastre & Maria Teresa Valderrama & Gabriel Sterne & Marc Stocker & Mark Weth & Karl Whelan & Alpo Willman, 2005.
"Wealth and asset price effects on economic activity ,"
Occasional Paper Series
29, European Central Bank.
[Downloadable!]
Access and
download statistics Did you know? There are NEP reports in over 80 fields that deliver new research to your email.
This page was last updated on 2009-12-30.
This information is provided to you by IDEAS at the Department of Economics , College of Liberal Arts and Sciences , University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics .