This study strengthens the frontiers of research on the drivers of dollarization in emerging economies by exploring the … 2002 to March 2016. The evidence suggests that dollarization shares a common stochastic trend with exchange rates … exchange rate depreciation and financial development in the evolution of dollarization. Whereas depreciation induces a switch …

apparent paradox between a decade of economic and political improvements and continued dollarization, and drawing policy … host of institutional barriers that need to be overcome to prepare the groundwork for a natural process of de-dollarization. …