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Dollarising Indonesia

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  • Kurt Schuler

Abstract

The rupiah's record of instability, both recently and over the long term, suggests it is worthwhile to investigate options for radical monetary reform. An option currently receiving attention elsewhere is official dollarisation, under which a country ceases to issue a domestic currency and makes a foreign currency its official currency. This paper discusses the costs and benefits of dollarisation in Indonesia, the steps involved in dollarisation, and some economic and political implications of dollarisation.

Suggested Citation

  • Kurt Schuler, 1999. "Dollarising Indonesia," Bulletin of Indonesian Economic Studies, Taylor & Francis Journals, vol. 35(3), pages 97-113.
    • Handle: RePEc:taf:bindes:v:35:y:1999:i:3:p:97-113
    DOI: 10.1080/00074919912331337707
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    References listed on IDEAS

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    1. Fischer, Stanley, 1982. "Seigniorage and the Case for a National Money," Journal of Political Economy, University of Chicago Press, vol. 90(2), pages 295-313, April.
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    4. Mr. Edward J Frydl, 1999. "The Length and Cost of Banking Crises," IMF Working Papers 1999/030, International Monetary Fund.
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    6. Alex Cukierman, 1992. "Central Bank Strategy, Credibility, and Independence: Theory and Evidence," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262031981, April.
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