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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...

Exchange Rate Regimes and the Stability of the International Monetary System

Exchange Rate Regimes and the Stability of the International Monetary System »

Series: Occasional Papers

Author(s): Atish Ghosh , Jonathan Ostry , and Charalambos Tsangarides

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2011

DOI: http://dx.doi.org/10.5089/9781589069312.084

ISBN: 9781589069312

Keywords: Exchange rate regimes, Financial stability, International monetary system, Reserve currencies, Reserves accumulation, Trade integration, exchange rate, exchange rate regime, exchange rates, real exchange rate

The member countries of the International Monetary Fund collaborate to try to assure orderly exchange arrangements and promote a stable system of exchange rates, recognizing that the essential purpose of the intern...

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...

Los regímenes de tipo de cambio y la estabilidad del sistema monetario internacional

Los regímenes de tipo de cambio y la estabilidad del sistema monetario internacional »

Series: Occasional Papers

Author(s): Atish Ghosh , Jonathan Ostry , and Charalambos Tsangarides

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 26 November 2014

Language: Spanish

DOI: http://dx.doi.org/10.5089/9781498324076.084

ISBN: 9781498324076

Keywords: Exchange rate regimes, Financial stability, International monetary system, Reserve currencies, Reserves accumulation, Trade integration, tipo de cambio, régimen de tipo de cambio, tipos de cambio, tipo de cambio real

Los países miembros del Fondo Monetario Internacional colaboran para asegurar que los regímenes cambiarios funcionen ordenadamente y para fomentar la estabilidad del sistema cambiario, reconociendo que el objetivo...

Appendix: Regime Classifications

Appendix: Regime Classifications »

Source: Exchange Rate Regimes and the Stability of the International Monetary System

Series: Occasional Papers

Author(s): Atish Ghosh , Jonathan Ostry , and Charalambos Tsangarides

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2011

ISBN: 9781589069312

Keywords: Exchange rate regimes, Financial stability, International monetary system, Reserve currencies, Reserves accumulation, Trade integration, exchange rate, exchange rate regime, exchange rates, real exchange rate

Any empirical study of exchange rate regimes must contend with issues of regime classification. Early work used a de jure classification—the regime declared by national authorities...

1 Overview

1 Overview »

Source: Exchange Rate Regimes and the Stability of the International Monetary System

Series: Occasional Papers

Author(s): Atish Ghosh , Jonathan Ostry , and Charalambos Tsangarides

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 15 March 2011

ISBN: 9781589069312

Keywords: Exchange rate regimes, Financial stability, International monetary system, Reserve currencies, Reserves accumulation, Trade integration, exchange rate, exchange rate regime, exchange rates, real exchange rate

This paper reviews the stability of the overall system of exchange rates along three dimensions: Do individual countries’ choice of exchange rate regime help them achieve their domestic macroeconomic goals?...