Advertisement

© 2006

Financial Dollarization

The Policy Agenda

  • Adrián Armas
  • Alain Ize
  • Eduardo Levy Yeyati
Book

Part of the Procyclicality of Financial Systems in Asia book series (IMF)

Table of contents

  1. Front Matter
    Pages i-xviii
  2. Financial Dollarization: An Overview

    1. Adrián Armas, Alain Ize, Eduardo Levy Yeyati
      Pages 1-12
  3. Financial Dollarization: Roots and Dynamics

    1. Front Matter
      Pages 13-13
    2. Alain Ize, Eduardo Levy Yeyati
      Pages 38-63
    3. Robert Rennhack, Masahiro Nozaki
      Pages 64-96
  4. Monetary Policy

    1. Front Matter
      Pages 97-97
    2. Leonardo Leiderman, Rodolfo Maino, Eric Parrado
      Pages 99-114
    3. Adrián Armas, Francisco Grippa
      Pages 115-144
  5. Prudential Policy

    1. Front Matter
      Pages 145-145
    2. Jorge Cayazzo, Antonio Garcia Pascual, Eva Gutierrez, Socorro Heysen
      Pages 177-215
    3. Alain Ize, Miguel A. Kiguel, Eduardo Levy Yeyati
      Pages 216-240
  6. De-dollarization Policy

    1. Front Matter
      Pages 241-241
    2. Daniel C. Hardy, Ceyla Pazarbasioglu
      Pages 273-308
  7. Looking Ahead

    1. Front Matter
      Pages 309-309
    2. Adrián Armas, Alain Ize, Eduardo Levy Yeyati
      Pages 318-327
  8. Back Matter
    Pages 329-337

About this book

Introduction

This volume provides a rigorous and balanced perspective on the causes and implications of dollarization, and the basic policies and options to deal with it: the adaptation of the monetary and prudential frameworks, the development of local-currency substitutes, and the scope for limiting dollarization through administrative restrictions.

Keywords

Controlling development Inflation

Editors and affiliations

  • Adrián Armas
    • 1
  • Alain Ize
    • 2
  • Eduardo Levy Yeyati
    • 3
    • 4
  1. 1.Economic Studies DepartmentCentral Reserve Bank of PeruPeru
  2. 2.Monetary and Financial Systems DepartmentInternational Monetary FundUSA
  3. 3.Center for Financial Research at the Business SchoolTorcuato Di Tella UniversityArgentina
  4. 4.Research DepartmentInter-American Development BankUSA

About the editors

AGUSTIN CARSTENS Deputy Managing Director, International Monetary Fund, USA JORGE CAYAZZO Senior Financial Sector Expert, Monetary and Financial Systems Department, International Monetary Fund, USA ROBERTO CHANG Professor of Economics, Rutgers University and Research Associate, National Bureau of Economic Research, USA KEVIN COWAN Senior Economist, Central Bank of Chile, Chile OSCAR DANCOURT Acting Governor, Central Reserve Bank of Peru, Peru JULIO DE BRUN Director, Center for Banking and Financial Studies, Universidad ORT Uruguay and Executive Director, Private Banks Association, Uruguay AUGUSTO DE LA TORRE Senior Regional Financial Sector Advisor, Latin American and the Caribbean Regional Office, The World Bank, USA FRANCISCO DE PAULA GUTIERREZ Governor, Central Bank of Costa Rica, Costa Rica ANTONIO IGNACIO GARCIA PASCUAL Economist, Monetary and Financial Systems Department, International Monetary Fund, USA FRANCISCO GRIPPA Senior Economist, Monetary Division, Banco Central de Reserva del Perú, Peru EVA GUTIERREZ Economist, Policy Review Department, International Monetary Fund, USA DANIEL C. HARDY Deputy Division Chief, Monetary and Financial Systems Department, International Monetary Fund, USA LUIS OSCAR HERRERA Director, Financial Policy Department, Central Bank of Chile, Chile SOCORRO HEYSEN Deputy Division Chief, Monetary and Financial Systems Department, International Monetary Fund, USA ALLISON HOLLAND Debt Management Advisor, Monetary and Financial Systems Department, International Monetary Fund, USA STEFAN INGVES Governor, Sveriges Riksbank, Sweden CLAUDIO IRIGOYEN Chief Economist, Central Reserve Bank of Argentina, Argentina OLIVER JEANNE Deputy Division Chief, Research Department, International Monetary Fund, USA MIGUEL KIGUEL Academic Advisor, Financial Stability Center and Professor Universidad Torcuato Di Tella, Argentina LEONARDO LEIDERMAN Professor, Berglas School of Economics, Tel Aviv University, Israel GERARDO LICANDRO Director, Research Department, Central Bank of Uruguay, Uruguay RODOLFO MAINO Senior Economist, Monetary and Financial Systems Department, International Monetary Fund, USA JUAN ANTONIO MORALES Governor, Central Bank of Bolivia, Bolivia CHRISTIAN MULDER Deputy Division Chief, Monetary and Financial Systems Department, International Monetary Fund, USA MASAHIRO NOZAKI Economist, Western Hemisphere Department, International Monetary Fund, USA ERIC PARRADO Advisor of the Financial Policy Division, Central Bank of Chile, Chile CEYLA PAZARBASIOGLU Division Chief, International Capital Markets Department, International Monetary Fund, USA ROBERT RENNHACK Division Chief, Western Hemisphere Department, International Monetary Fund, USA MARKUS RODLAUER Senior Advisor, Western Hemisphere Department, International Monetary Fund, USA RENZO ROSSINI General Manager, Central Reserve Bank of Peru, Peru KLAUS SCHMIDT-HEBBEL Chief of Economic Research, Central Bank of Chile and Professor, Catholic University of Chile, Chile PHILIP TURNER Head of the Secretariat Group, Monetary and Economic Department, Bank for International Settlements, Switzerland

Bibliographic information

Reviews

'The contributions are generally of a high quality; the editors have done an excellent job, and the publication comes at an appropriate time.' - Bishnodat Persaud, Development and Policy Review