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Adopting full dollarization in postconflict economies : would the gains compensate for the losses in Liberia? /

This paper discusses whether adopting the U.S. dollar as the sole legal tender could help Liberia, a postconflict economy, to boost growth and strengthen fiscal discipline. In view of the performance of exchange rate regimes in many countries and Liberia's own experience with dollarization, we...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Honda, Jiro (Autor), Schumacher, Liliana (Autor)
Autor Corporativo: International Monetary Fund. African Department
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, D.C.] : International Monetary Fund, African Dept., ©2006.
Colección:IMF working paper ; WP/06/82.
Temas:
Acceso en línea:Texto completo

MARC

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100 1 |a Honda, Jiro,  |e author. 
245 1 0 |a Adopting full dollarization in postconflict economies :  |b would the gains compensate for the losses in Liberia? /  |c Jiro Honda and Liliana Schumacher. 
260 |a [Washington, D.C.] :  |b International Monetary Fund, African Dept.,  |c ©2006. 
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520 |a This paper discusses whether adopting the U.S. dollar as the sole legal tender could help Liberia, a postconflict economy, to boost growth and strengthen fiscal discipline. In view of the performance of exchange rate regimes in many countries and Liberia's own experience with dollarization, we conclude that Liberia should not adopt full dollarization for the following reasons: (i) the alleged benefits voiced by the proponents of dollarization, in terms of enhanced fiscal discipline and faster economic growth, are not supported by the empirical evidence; (ii) dollarization would increase the Liberian economy's vulnerability to external shocks and Liberia's social fragility; (iii) banks in fully dollarized economies face additional capitalization requirements that Liberian banks cannot meet at present; and (iv) dollarization would be costly in terms of real resources because of the loss of seigniorage. 
506 |3 Use copy  |f Restrictions unspecified  |2 star  |5 MiAaHDL 
533 |a Electronic reproduction.  |b [Place of publication not identified] :  |c HathiTrust Digital Library,  |d 2010.  |5 MiAaHDL 
538 |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.  |u http://purl.oclc.org/DLF/benchrepro0212  |5 MiAaHDL 
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505 0 |a Contents -- I. INTRODUCTION -- II. PROS OF DOLLARIZATION: ANALYTICAL CONSIDERATIONS AND EMPIRICAL EVIDENCE -- III. CONS OF DOLLARIZATION -- IV. CHOICES OF CURRENCY REGIMES IN POSTCONFLICT COUNTRIES -- V. CONCLUSIONS: IS LIBERIA A CANDIDATE FOR FULL, DE JURE DOLLARIZATION? -- References 
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650 0 |a Dollar, American. 
650 0 |a Monetary policy  |z Liberia. 
651 0 |a Liberia  |x Economic conditions. 
651 0 |a Liberia  |x Economic policy. 
650 6 |a Politique monétaire  |z Liberia. 
650 6 |a Dollar américain. 
651 6 |a Liberia  |x Conditions économiques. 
651 6 |a Liberia  |x Politique économique. 
650 7 |a Dollar, American  |2 fast 
650 7 |a Economic history  |2 fast 
650 7 |a Economic policy  |2 fast 
650 7 |a Monetary policy  |2 fast 
651 7 |a Liberia  |2 fast  |1 https://id.oclc.org/worldcat/entity/E39QbtfRw4wXfWcf49XR4v7m7B 
700 1 |a Schumacher, Liliana,  |e author. 
710 2 |a International Monetary Fund.  |b African Department. 
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830 0 |a IMF working paper ;  |v WP/06/82. 
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