Havrylyshyn, Oleh; Beddies, Christian H - In: Comparative Economic Studies 45 (2003) 3, pp. 329-357
This paper reviews evidence of dollarisation in Former Soviet Union (FSU) countries, and finds that it is still very high, the well-known hysteresis effect. However high dollarisation – defined as the use of any foreign currency – is not only due to inertial lack of confidence. There is also...