Dollarization: Concepts and Implications for Monetary and Exchange Rate Policy in the Philippines

Yap, Josef T. Author_Email:

Philippine Journal of Development, 2001

Abstract: Currency substitution implies the greater share of foreign currency in the asset holdings of domestic residents. Dollarization is the complete replacement of the local currency- in this case, the peso- by a foreign currency, most likely the US dollar. The paper finds that dollarization or official dollarization has both its costs and benefits but it is not a viable option for the Philippines at the moment.

Keywords: exchange rate policy; monetary policy (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:phd:pjdevt:pjd_2001_vol__xxviii_no__1-d

DOI: 10.62986/pjd2001.28.1d

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