Estimating a Natural Level of Financial Dollarization in Ukraine

Kostiantyn Khvedchuk (), Valentyna Sinichenko () and Barry Topf ()
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Kostiantyn Khvedchuk: National Bank of Ukraine
Valentyna Sinichenko: National Bank of Ukraine
Barry Topf: International Monetary Fund

Visnyk of the National Bank of Ukraine, 2019, issue 247, 38-44

Abstract: This article overviews the background for financial dollarization in Ukraine. We apply quantitative techniques including both minimum variance portfolio and peer comparison taking into consideration country-specific characteristics to derive an estimated natural dollarization level for Ukraine. The study also discusses potential ways for Ukraine to converge to its natural level, which we estimate at 20%. Additional factors indicate dollarization in the range of 20-30% as realistic medium-term policy goal.

Keywords: financial dollarization; natural dollarization; euroization; minimum variance portfolio (search for similar items in EconPapers)
JEL-codes: E58 F41 G11 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:ukb:journl:y:2019:i:247:p:38-44

DOI: 10.26531/vnbu2019.247.03

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