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Desdolarización financiera en Bolivia

Author

Listed:
  • Marco Antonio del Río Rivera

    (Universidad Autónoma Gabriel René Moreno)

  • Casto Martín Montero Kuscevic

    (American University of Beirut)

Abstract

Using data for the period 1990-2010 and a portfolio optimization approach, we identify the causes of the process of financial de-dollarization in Bolivia (bolivianization). Cointegration tests showed the existence of a long-run relationship between de-dollarization and the optimizing portfolio approach. Additionally, we found that the Tax to Financial Transactions and the exchange rate spread are the most influential variables to determine bolivianization.

Suggested Citation

  • Marco Antonio del Río Rivera & Casto Martín Montero Kuscevic, 2014. "Desdolarización financiera en Bolivia," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 29(1), pages 3-25.
    • Handle: RePEc:emx:esteco:v:29:y:2014:i:1:p:3-25
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    File URL: https://estudioseconomicos.colmex.mx/index.php/economicos/article/view/76/77
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    More about this item

    Keywords

    dollarization; monetary policy; cointegration models.;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models

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