Narrow search
Showing 1 - 10 of 122
Cover Image
Choice of the Substitution Currency in Russia : How to Explain the Dollar's Dominance?
Dorbec, Anna - 2007
The analysis of external economic relations of Russia reveals a paradox: while Europe is the main trade and direct … investment partner of Russia, this is far from being the case concerning its currency's role in Russia's financial activities …
Persistent link: https://www.econbiz.de/10012729550
Cover Image
Financial Dollarization in Russia : Causes and Consequences
Ponomarenko, Alexey A. - 2014
We review some aspects of financial dollarization in Russia, applying the main relevant theories to analyze the … is estimated for the last decade. We find that ruble appreciation was the main driver of the de-dollarization that …, where we have seen significant accumulation of international reserves by the Bank of Russia and repayment of government debt …
Persistent link: https://www.econbiz.de/10013066920
Cover Image
Currency Substitution in a De-Dollarizing Economy : The Case of Russia
Harrison, Barry; Vymyatina, Yulia - 2007
Russia, experienced widespread currency substitution in the early phase of transition. Following Russia's financial meltdown …
Persistent link: https://www.econbiz.de/10014225337
Cover Image
Currency Substitution in the Economies of Central Asia : How Much Does it Cost?
Isakova, Asel - 2010
Underdeveloped financial markets and periods of high inflation have stimulated dollarization and currency substitution in the economies of Central Asia. Some authors argue that the latter can pose serious obstacles for the effective conduct of monetary policy and can affect households' welfare....
Persistent link: https://www.econbiz.de/10013138900
Cover Image
Econometric Analysis of Currency Substitution : A Case of Latvia
Sarajevs, Vadims - 2007
The paper provides a comprehensive econometric analysis of currency substitution for Latvia. Rather than drawing inferences on the degree of currency substitution from domestic money demand modelling, the most common approach to empirical analysis of the phenomenon, direct modelling of currency...
Persistent link: https://www.econbiz.de/10012729027
Cover Image
Dollarization in Lithuania : An Econometric Approach
Vetlov, Igor - 2007
The paper analyses the factors driving dollarization in Lithuania during the period from December 1992 to August 2000. Starting with a brief overview of the major economic and political developments in Lithuania, the study attempts to model the process of dollarization by applying rigorous time...
Persistent link: https://www.econbiz.de/10012729033
Cover Image
Substituting a Substitute Currency : The Case of Estonia
Heimonen, Kari - 2007
This study evaluates substitution of foreign currency balances in Estonia, a transition economy neighbouring countries participating in EMU. The focus is on substitution between dollar and euro balances in the three basic functions of money - unit of account, store of value and means of payment....
Persistent link: https://www.econbiz.de/10012729042
Cover Image
Deposit Dollarization in Emerging Markets : Modelling the Hysteresis Effect
Krupkina, Anna; Ponomarenko, Alexey A. - 2016
We apply empirical modelling set-ups developed to capture the hysteresis effect in the data on deposit dollarization in a cross-section of emerging market economies. Specifically, we estimate a nonlinear relationship that determines two equilibrium levels of deposit dollarization depending on...
Persistent link: https://www.econbiz.de/10014352418
Cover Image
The Real Value of China's Stock Market
Carpenter, Jennifer N. - 2018
This paper shows that, counter to common perception, stock prices in China are strongly linked to firm fundamentals. Since the reforms of the early 2000s, stock prices are as informative about future profits as they are in the US. Although the market is segmented from international equity...
Persistent link: https://www.econbiz.de/10012929566
Cover Image
Money Shocks in a Small Open Economy with Dollarization, Factor Price Rigidities, and Nontradeables
Sarajevs, Vadims - 2007
The impact of an unanticipated monetary shock in a small open economy with dollarization, factor price rigidities, and nontradeables is re-examined in an optimizing intertemporal general equilibrium model. The framework of an earlier study is extended to incorporate foreign real money balances...
Persistent link: https://www.econbiz.de/10012729029