A very commonly observed phenomenon in developing and emerging market economies is the use of another country's currency (US dollar or other) in lieu or in addition to the local currency. Governments in these countries have been encouraging dollarization for years by allowing their citizens to...

The deregulation of domestic financial markets and the capital account in developing countries has frequently been associated with financial turmoil and macro volatility. The book analyzes the experiences of several countries, drawing implications for building development-friendly domestic and...

This paper investigates macroprudential policy effects on bank systemic risk and the role of inflation targeting in such effects. Using bank-level data for 45 countries comprising various monetary and exchange rate regimes, our regime-dependent dynamic panel regression results point to...

A very commonly observed phenomenon in developing and emerging market economies is the use of another country’s currency (US dollar or other) in lieu or in addition to the local currency. Governments in these countries have been encouraging dollariz