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Financial Stability in Dollarized Economies

Financial Stability in Dollarized Economies »

Series: Occasional Papers

Author(s): Anne Gulde , David Hoelscher , Alain Ize , Dewitt Marston , and Gianni De Nicolo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 2004

DOI: http://dx.doi.org/10.5089/9781589062962.084

ISBN: 9781589062962

Keywords: Dollarization, Financial stability, banking, foreign exchange, banking system, exchange rate

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 stud...

I Introduction

I Introduction »

Source: Financial Stability in Dollarized Economies

Series: Occasional Papers

Author(s): Anne Gulde , David Hoelscher , Alain Ize , Dewitt Marston , and Gianni De Nicolo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 2004

ISBN: 9781589062962

Keywords: Dollarization, Financial stability, banking, foreign exchange, banking system, exchange rate

Dollarization, a common feature in many developing and transition countries, can have important implications for financial stability. In a bid to promote financial intermediation and deepening,...

II Implications of Dollarization for Financial Stability

II Implications of Dollarization for Financial Stability »

Source: Financial Stability in Dollarized Economies

Series: Occasional Papers

Author(s): Anne Gulde , David Hoelscher , Alain Ize , Dewitt Marston , and Gianni De Nicolo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 2004

ISBN: 9781589062962

Keywords: Dollarization, Financial stability, banking, foreign exchange, banking system, exchange rate

Empirical evidence suggests that financial dollarization may increase the vulnerability of financial systems to solvency and liquidity risks. Simple cross-country estimates of the impact of doll...

III Managing Bank Runs in Dollarized Countries

III Managing Bank Runs in Dollarized Countries »

Source: Financial Stability in Dollarized Economies

Series: Occasional Papers

Author(s): Anne Gulde , David Hoelscher , Alain Ize , Dewitt Marston , and Gianni De Nicolo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 2004

ISBN: 9781589062962

Keywords: Dollarization, Financial stability, banking, foreign exchange, banking system, exchange rate

Dealing with bank runs in dollarized economies is both more difficult and subject to greater risks than in other cases. 16 The absence of a lender of last resort has...

IV Prudential Framework for Managing Dollarization Risks

IV Prudential Framework for Managing Dollarization Risks »

Source: Financial Stability in Dollarized Economies

Series: Occasional Papers

Author(s): Anne Gulde , David Hoelscher , Alain Ize , Dewitt Marston , and Gianni De Nicolo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 2004

ISBN: 9781589062962

Keywords: Dollarization, Financial stability, banking, foreign exchange, banking system, exchange rate

At present, only a few of the highly dollarized countries issue explicit regulations to limit banks’ exposure to currency-induced credit risk. Based on a survey of prudential practices in a samp...

V Conclusions

V Conclusions »

Source: Financial Stability in Dollarized Economies

Series: Occasional Papers

Author(s): Anne Gulde , David Hoelscher , Alain Ize , Dewitt Marston , and Gianni De Nicolo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 2004

ISBN: 9781589062962

Keywords: Dollarization, Financial stability, banking, foreign exchange, banking system, exchange rate

Dollarization can benefit the development and deepening of financial systems in small countries or those with weak currencies, but it also poses unique financial risks that need addressing. Expe...

Back Matter

Back Matter »

Source: Financial Stability in Dollarized Economies

Series: Occasional Papers

Author(s): Anne Gulde , David Hoelscher , Alain Ize , Dewitt Marston , and Gianni De Nicolo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 2004

ISBN: 9781589062962

Keywords: Dollarization, Financial stability, banking, foreign exchange, banking system, exchange rate

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 stud...

Front Matter

Front Matter »

Source: Financial Stability in Dollarized Economies

Series: Occasional Papers

Author(s): Anne Gulde , David Hoelscher , Alain Ize , Dewitt Marston , and Gianni De Nicolo

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 June 2004

ISBN: 9781589062962

Keywords: Dollarization, Financial stability, banking, foreign exchange, banking system, exchange rate

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 stud...