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Institut für Weltwirtschaft (IfW), Kiel >
Kiel Advanced Studies Working Papers, IfW >
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http://hdl.handle.net/10419/27011
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| Title: | | Financial dollarization and currency substitution: an empirical study for Bolivia  |
| Authors: | | Dell'Erba, Salvatore Saldías Zambrana, Martin |
| Issue Date: | | 2006 |
| Series/Report no.: | | Kiel advanced studies working papers 432 |
| Abstract: | | The Bolivian puzzle is high and persistent financial dollarization notwithstanding deep macroeconomic stabilization that achieved stable and low inflation and the regulations encouraging domestic currency deposits. We analyze traditional and new approaches to explain dollarization in Bolivia. We first assess the currency substitution approach and then assess the empirical evidence for the financial dollarization approach. The results show that the macroeconomic variables capture only partially the phenomenon and a better assessment relies on other explanations such as the peso problem and the analysis of specific characteristics of the financial markets in Bolivia. |
| Subjects: | | Dollarization Exchange rate regimes Inflation Bolivia |
| JEL: | | E44 E59 G19 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des IfW Kiel Advanced Studies Working Papers, IfW
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