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Financial Stability in Dollarized Economies

Author

Listed:
  • Ms. Anne Marie Gulde
  • Mr. David S. Hoelscher
  • Mr. Alain Ize
  • Mr. Dewitt D Marston
  • Mr. Gianni De Nicolo

Abstract

This paper addresses the challenges to prudential supervision in highly dollarized economies, where central banks and supervisors may be constrained in the use of standard money and financial policy tools. The study’s conclusions are the basis of an ongoing policy dialogue with IMF member countries, standard-setters in the financial area, and academia. The paper is part of the policy development work conducted by the IMF’s Monetary and Financial Systems Department.

Suggested Citation

  • Ms. Anne Marie Gulde & Mr. David S. Hoelscher & Mr. Alain Ize & Mr. Dewitt D Marston & Mr. Gianni De Nicolo, 2004. "Financial Stability in Dollarized Economies," IMF Occasional Papers 2004/005, International Monetary Fund.
    • Handle: RePEc:imf:imfops:2004/005
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    Citations

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    Cited by:

    1. Mr. Geoffrey J Bannister & Mr. Jarkko Turunen & Malin Gardberg, 2018. "Dollarization and Financial Development," IMF Working Papers 2018/200, International Monetary Fund.
    2. Renzo Rossini & Zenon Quispe & Rocío Gondo, 2008. "Macroeconomic implications of capital inflows: Peru 1991–2007," BIS Papers chapters, in: Bank for International Settlements (ed.), Financial globalisation and emerging market capital flows, volume 44, pages 363-387, Bank for International Settlements.
    3. Nada Mora, 2014. "Reason for Reserve? Reserve Requirements and Credit," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(2-3), pages 469-501, March.
    4. Mr. Eduardo Levy Yeyati & Mr. Alain Ize & Miguel A. Kiguel, 2005. "Managing Systemic Liquidity Risk in Financially Dollarized Economies," IMF Working Papers 2005/188, International Monetary Fund.
    5. Mr. Eduardo Levy Yeyati & Mr. Alain Ize, 2005. "Financial De-Dollarization: Is it for Real?," IMF Working Papers 2005/187, International Monetary Fund.
    6. International Monetary Fund, 2007. "Ukraine: Selected Issues," IMF Staff Country Reports 2007/047, International Monetary Fund.
    7. International Monetary Fund, 2004. "Bank Consolidation and Performance: The Argentine Experience," IMF Working Papers 2004/149, International Monetary Fund.
    8. Sanderson Abel & Pierre Le Roux, 2016. "Determinants of Banking Sector Profitability in Zimbabwe," International Journal of Economics and Financial Issues, Econjournals, vol. 6(3), pages 845-854.
    9. Ramon-Ballester, Francisco & Wezel, Torsten, 2007. "International financial linkages of Latin American banks: the effects of political risk and deposit dollarisation," Working Paper Series 744, European Central Bank.
    10. Corinne Deléchat & Camila Henao & Priscilla Muthoora & Svetlana Vtyurina, 2014. "The Determinants of Banks' Liquidity Buffers in Central America," Monetaria, Centro de Estudios Monetarios Latinoamericanos, CEMLA, vol. 0(1), pages 83-129, January-J.
    11. Hippolyte Balima, Wenéyam, 2017. "Do domestic bond markets participation help reduce financial dollarization in developing countries?," Economic Modelling, Elsevier, vol. 66(C), pages 146-155.
    12. Bernardo X. Fernández Tellería, 2007. "Dollarization hysteresis, network externalities and the “past legacy” effect: the case of Bolivia," Monetaria, CEMLA, vol. 0(2), pages 167-217, marzo-abr.
    13. Miss Liliana B Schumacher & Mr. Jiro Honda, 2006. "Adopting Full Dollarization in Postconflict Economies: Would the Gains Compensate for the Losses in Liberia?," IMF Working Papers 2006/082, International Monetary Fund.
    14. Ms. Corinne C Delechat & Ms. Camila Henao Arbelaez & Ms. Priscilla S Muthoora & Svetlana Vtyurina, 2012. "The Determinants of Banks' Liquidity Buffers in Central America," IMF Working Papers 2012/301, International Monetary Fund.
    15. Patrick Amir Imam, 2022. "De‐dollarization in Zimbabwe: What lessons can be learned from other sub‐Saharan countries?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(1), pages 770-801, January.
    16. Adrián Armas & Francisco Grippa, 2008. "Metas de inflación en una economía dolarizada: La experiencia del Perú," Revista de Análisis del BCB, Banco Central de Bolivia, vol. 10(1), pages 7-44, December.
    17. Adrián Armas, 2005. "Forex interventions in Peru: 2002-2004," BIS Papers chapters, in: Bank for International Settlements (ed.), Foreign exchange market intervention in emerging markets: motives, techniques and implications, volume 24, pages 242-54, Bank for International Settlements.
    18. Myriam Quispe-Agnoli & Elena Whisler, 2006. "Official dollarization and the banking system in Ecuador and El Salvador," Economic Review, Federal Reserve Bank of Atlanta, vol. 91(Q 3), pages 55-71.
    19. Mr. Juan S Corrales & Patrick A. Imam, 2019. "Financial Dollarization of Households and Firms: Does It Differ?," IMF Working Papers 2019/019, International Monetary Fund.
    20. Alain Ize & Miguel Kiguel & Eduardo Levy Yeyati, 2005. "Managing Systemic Liquidity Risk in Financially Dollarized Economy," Business School Working Papers managsystrisk, Universidad Torcuato Di Tella.
    21. Antonio I Garcia Pascual & Mr. Jorge Cayazzo & Mrs. Socorro Heysen & Miss Eva Gutierrez, 2006. "Toward An Effective Supervision of Partially Dollarized Banking Systems," IMF Working Papers 2006/032, International Monetary Fund.

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