The behavior of foreign currency holdings during currency crises: Causes and consequences |
| |
Authors: | Paul Mizen |
| |
Institution: | 1.University of Nottingham and CEPR,Nottingham,UK |
| |
Abstract: | This paper evaluates the current literature on dollarization and finds it to be disappointing in its ability to explain many of the prevailling features of the dollarizations experiences in Latin America, Eastern Europe and the Former Soviet Union. The paper takes a different approach to the standard empirical studies, which usually extend a demand for money function to include international variables, by analyzing foreign currency holding behaviors in response to the sustainability and credibility of the exchange rate regime. The results are very promising and explain some of the previously unexplained phenomena which arise from dollarization. |
| |
Keywords: | |
本文献已被 SpringerLink 等数据库收录! |
|