publication . Part of book or chapter of book . Article . 2000

Reflections on the perspectives of the global economy from the point of view of emerging economies

Maria Luiza Falcão Silva; Joaquim Pinto de Andrade; Thomas S. Torrance;
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  • Published: 07 Jan 2000
  • Publisher: Physica-Verlag HD
Abstract
Recently a number of emerging economies, with high inflation and various kinds of imbalances have experienced what has come to be referred to as dollarization - the phenomenon of currency substitution where the dollar gradually replaces the national currency in the performance of its fundamental functions. The phenomenon is most commonly encountered as a component of the exchange-rate-based stabilization programs implemented in a number of emerging economies in Latin America, Asia and the Middle East. The fundamental issue we want to explore is whether this process forces the monetary authorities of emerging economies to act with their hands tied, as if caught i...
Subjects
free text keywords: Systemic asymmetries - dollarization - Exchange-rate-based stabilization - Speculative attacks, jel:G15, Economics and Econometrics, General Business, Management and Accounting, International economics, Market liquidity, Currency, Currency substitution, Liberian dollar, Economic stability, Emerging markets, Globalization, Economy, Economics, Microeconomics, Monetary policy
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publication . Part of book or chapter of book . Article . 2000

Reflections on the perspectives of the global economy from the point of view of emerging economies

Maria Luiza Falcão Silva; Joaquim Pinto de Andrade; Thomas S. Torrance;