The primary aim of this paper is to explore the effectiveness of Hoarding International Reserves and Sterilization in dollarized and indebted countries such as Turkey and Lebanon, by measuring the sterilization coefficient, and the offset coefficient. It also focuses on exploring the link...

The aim of this paper is to evaluate the economic consequences on the countries that on one hand protect themselves from future financial crises by accumulating international reserves (IR) while on the other hand expose themselves to severe financial crisis due to their excessive internal and/or...

This paper studies the choice of the exchange rate regime in emerging and developing countries. The literature on exchange rate regimes is often based either on theoretical models or on empirical analysis. Our paper presents a different perspective by developing a theoretical model which is...