Dollarization: A Thought Framework

Dimitri Gvindadze ()

Chapter Chapter 18 in The Transformation of Georgia from 2004 to 2012, 2023, pp 161-170 from Springer

Abstract: Abstract This chapter explains whether and under which conditions Georgia can benefit from a unilateral adoption of EUR or US$ as its sole legal tender. This leads to a discussion of common currency areas, of trade-offs between exchange rate arrangements, financial openness and monetary independence, of transaction costs of international trade, of trade-offs between a nominal and internal devaluation, of mechanics of conversion from a national to an international currency and of its impact on competitiveness and on borrowing costs.

Keywords: Dollarization; Euroization; Optimum currency area; Impossible trinity; Eurozone (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-18264-8_18

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DOI: 10.1007/978-3-031-18264-8_18

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