La dolarización financiera: experiencia internacional y perspectivas para Colombia
Currencies in developing countries are not freely convertible; they show higher inflation and volatility levels and show periods of sharp appreciation and depreciation. These characteristics not only are a challenge for economic authorities, but also call attention to their ability to fully comply with the functions of money. Colombia, despite its disciplined monetary background, has not escaped from occasional queries about the convenience of keeping the Colombian peso. Just a few countries have chosen to fully replace their local currency with a foreign one in order to assume the entire functions of domestic currency, but there are many economies which have permitted partial dollarization. Based on international experience and Colombia’s characteristics, this paper concludes that financial dollarization would be costly, with limited and merely potential benefits.
Volume (Year): 10 (2008)
Issue (Month): 18 (January-June)
|Contact details of provider:|| Postal: Cra. 1 No. 12-68 Casa de las Mandolinas|
Phone: (571) 2826066 Ext. 1307
Fax: (571) 2826066 Ext. 1304
Web page: http://www.economiainstitucional.com
More information through EDIRC
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.:
- Winkelried, Diego & Castillo, Paul, 2010.
"Dollarization persistence and individual heterogeneity,"
Journal of International Money and Finance,
Elsevier, vol. 29(8), pages 1596-1618, December.
- Paul Castillo & Diego Winkelried, 2005. "Dollarization Persistence and Individual Heterogeneity," Macroeconomics 0512014, EconWPA, revised 31 Dec 2005.
- Paul Castillo & Diego Winkelried, 2007. "Dollarization Persistence and Individual Heterogeneity," Working Papers 2007-004, Banco Central de Reserva del Perú.
- De Nicolo, Gianni & Honohan, Patrick & Ize, Alain, 2003. "Dollarization of the banking system : good or bad?," Policy Research Working Paper Series 3116, The World Bank.
- Gianni De Nicolo & Patrick Honohan & Alain Ize, 2003. "Dollarization of the Banking System; Good or Bad?," IMF Working Papers 03/146, International Monetary Fund.
- Patrick Honohan, 2007. "Dollarization and Exchange Rate Fluctuations," The Institute for International Integration Studies Discussion Paper Series iiisdp201, IIIS.
- Honohan, Patrick, 2007. "Dollarization and exchange rate fluctuations," Policy Research Working Paper Series 4172, The World Bank.
- Honohan, Patrick, 2007. "Dollarization and Exchange Rate Fluctuations," CEPR Discussion Papers 6205, C.E.P.R. Discussion Papers.
- Pelin Berkmen & Eduardo A. Cavallo, 2007. "Exchange Rate Policy and Liability Dollarization; An Empirical Study," IMF Working Papers 07/33, International Monetary Fund.
- Eduardo Borensztein & Andrew Berg, 2000. "The Pros and Cons of Full Dollarization," IMF Working Papers 00/50, International Monetary Fund.
- Robert Rennhack & Masahiro Nozaki, 2006. "Financial Dollarization in Latin America," IMF Working Papers 06/7, International Monetary Fund.
- Alain Ize & Eric Parrado, 2002. "Dollarization, Monetary Policy, and the Pass-Through," IMF Working Papers 02/188, International Monetary Fund.
- Eduardo Levy Yeyati & Alain Ize, 1998. "Dollarization of Financial Intermediation; Causes and Policy Implications," IMF Working Papers 98/28, International Monetary Fund.
- Alain Ize & Eduardo Levy Yeyati, 2005. "Financial De-Dollarization: Is It for Real?," Business School Working Papers isitforreal, Universidad Torcuato Di Tella.
- Eduardo Levy Yeyati & Alain Ize, 2005. "Financial De-Dollarization; Is it for Real?," IMF Working Papers 05/187, International Monetary Fund.
- Adolfo Barajas & Armando Méndez Morales, 2003. "Dollarization of Liabilities; Beyond the Usual Suspects," IMF Working Papers 03/11, International Monetary Fund.
- Marco Terrones & Luis Catão, 2000. "Determinants of Dollarization; The Banking Side," IMF Working Papers 00/146, International Monetary Fund.
- Eduardo J. J. Ganapolsky, 2003. "Optimal fear of floating: the role of currency mismatches and fiscal constraints," FRB Atlanta Working Paper 2003-31, Federal Reserve Bank of Atlanta.
- Antonio Garcia Pascual & Jorge Cayazzo & Socorro Heysen & Eva Gutierrez, 2006. "Toward An Effective Supervision of Partially Dollarized Banking Systems," IMF Working Papers 06/32, International Monetary Fund. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:rei:ecoins:v:10:y:2008:i:18:p:313-341. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Paola Rodríguez)
If references are entirely missing, you can add them using this form.