Dedollarization: The experiences of Vietnam, Ukraine and Romania

Abstract : Most transition economies involved, at the start, a "dollarization" of the economy, which has hindered macroeconomic management. Three economies-Vietnam, Romania and Ukraine underwent this phenomenon at and have nonetheless pursued a relatively successful policy of "dedollarization". Dollarizing the economy is a reaction to expected depreciations of the exchange rate as well as to interest rates on deposits in local currency. Despite the fact that dollarization is rather inertial and does not seem to respond much to administrative decisions, it is not an irreversible process. Exchange rate policies appear to be efficient for dedollarizing an economy.
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Submitted on : Tuesday, May 1, 2012 - 9:50:44 PM
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G Duchene, M Goujon. Dedollarization: The experiences of Vietnam, Ukraine and Romania. Revue d'Etudes Comparatives Est-Ouest, CNRS, 2006, 37 (1), pp.127--+. ⟨10.3406/receo.2006.1752⟩. ⟨hal-00693145⟩

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