Theoretical and empirical analysis of de jure dollarization. With the persistent instability of international financial markets, emerging economies are explorin

Early in 2000, Ecuador, in response to a serious economic and governance crisis, adopted the U.S. dollar as its national currency. This publication examines the

Analyzes the costs and benefits of full dollarization, or the adoption by one country of another country’s currency. Potential advantages include lower borrow

An empirical study of exchange rate regimes based on data compiled from 150 member countries of the International Monetary Fund over the past thirty years. Few

Over the past decade, Cambodia has become Asia’s most dollarized economy. In contrast, dollarization in neighboring Lao P.D.R., Mongolia, and Vietnam has been