Is Dollarization the Right Option? Financial Fragility, Original Sin and Fear of Floating

Roman Horvath

Czech Journal of Economics and Finance (Finance a uver), 2004, vol. 54, issue 5-6, 252-266

Abstract: This paper focuses on the option of dollarization or euroization for emerging-market economies. There are no “one-size-fits-all” exchange-rate policies for emerging- -market economies; however, there are macroeconomic disadvantages associated with flexible exchange-rate regimes in such economies. Similarly, the timing of euro adoption in EU accession countries is a complex matter as well. The paper compares the costs and benefits of euro adoption, in particular to unilateral euroization.

Keywords: dollarization; euroization; exchange-rate regimes; emerging-market economies (search for similar items in EconPapers)
JEL-codes: E32 E42 F33 F42 (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:fau:fauart:v:54:y:2004:i:5-6:p:252-266

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