Documents & Reports

Financial dollarization and central bank credibility (English)


Why do firms and banks hold foreign currency denominated liabilities? The authors argue that foreign currency debt, by altering the effect of a devaluation on output, has a disciplining effect when the Central Bank's objectives differ from the social ... See More +


  • Cowan, kevin; Quy-Toan Do;
  • 2003/06/30
  • Policy Research Working Paper
  • WPS3082
  • 1
  • 1
  • 2010/07/01
  • Financial dollarization and central bank credibility
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