Financial dollarization and systemic risks: New empirical evidence
نویسندگان
چکیده
منابع مشابه
Dollarization and financial integration
This paper builds a simple theoretical model designed to study dollarization. Each period, a benevolent government decides whether or not to dollarize, how much to borrow or lend on an international bond market, and, if dollarization has not occurred, the devaluation rate. In equilibrium, international borrowing is limited endogenously such that the government always chooses to repay when the p...
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Systemic risk to financial markets is often defined as the risk of a major and rapid disruption in one or more of the core functions of the financial system caused by the initial failure of one or more financial firms or a segment of the financial system ([3], p. 3.) This widely accepted definition sets systemic risks in financial markets as a different class of risk agents in the market face, ...
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ژورنال
عنوان ژورنال: Journal of International Money and Finance
سال: 2012
ISSN: 0261-5606
DOI: 10.1016/j.jimonfin.2012.03.007