Financial Stability in Dollarized Economies

Anne Gulde, David Hoelscher, Alain Ize, Dewitt Marston and Gianni De Nicolo

No 2004/005, IMF Occasional Papers from International Monetary Fund

Abstract: 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 study’s conclusions are the basis of an ongoing policy dialogue with IMF member countries, standard-setters in the financial area, and academia. The paper is part of the policy development work conducted by the IMF’s Monetary and Financial Systems Department.

Keywords: OP; currency; dollar; deposit; market reform; systems bank; dollar intermediation; dollarized economy; adjustment cost; Currencies; Dollarization; Bank deposits; Exchange rates; Real exchange rates; Central America; South America; Middle East (search for similar items in EconPapers)
Pages: 35
Date: 2004-06-15
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Citations: View citations in EconPapers (21)

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