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Smuggling, Currency Substitution and Unofficial Dollarization
By:Mr. Alex Mourmouras,Mr. Steven Russell
Published on 2000-10-01 by International Monetary Fund

Large stocks of U.S. dollars and other hard currencies circulate in the transition economies, in Latin America, and in other countries that have experienced macroeconomic mismanagement. Using a monetary model that combines the legal restrictions and crime-theoretic traditions, this paper demonstrates how leaky exchange controls lead to currency substitution and progressive dollarization. The paper also analyzes the impact of dollarization on the ability of governments to earn seigniorage, the dynamics of dollarization in a growing economy, and the central role of expectations—specifically, confidence in the domestic currency—in determining the extent of dollarization and, potentially, in reversing it.

This Book was ranked at 11 by Google Books for keyword Currency.

Book ID of Smuggling, Currency Substitution and Unofficial Dollarization's Books is Kmc0u3O0ONsC, Book which was written byMr. Alex Mourmouras,Mr. Steven Russellhave ETAG "CXtrxEtx/B0"

Book which was published by International Monetary Fund since 2000-10-01 have ISBNs, ISBN 13 Code is 9781451904147 and ISBN 10 Code is 1451904142

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Book which have "44 Pages" is Printed at BOOK under CategoryBusiness and Economics

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