Gomis-Porqueras, Pere; Serrano, Carlos; Somuano, Alejandro - Economics Research, World Bank Group - 2000
-denominated accounts. They empirically determine the causes of currency substitution, its significance in recent banking crises, and the … dollarized economy. In particular, they find that, in the presence of currency substitution, past banking crises are good … predictors of future crises. In other words, having a highly dollarized economy, increases the response of the banking system …