0380574 - NHU-C 2013 RIV US eng J - Journal Article
Loiseau-Aslanidi, Olga
Dollarization in emerging markets: evidence from Georgia.
Emerging Markets Finance and Trade. Roč. 48, č. 3 (2012), s. 70-84. ISSN 1540-496X. E-ISSN 1558-0938
Grant - others:UK(CZ) GAUK 259027
Institutional support: PRVOUK-P23
Keywords : dollarization * Georgia * money-in-utility function
Subject RIV: AH - Economics
Impact factor: 1.190, year: 2012

This paper studies dollarization using the implications of three versions of a money-in-utility function model. These versions accentuate the roles of the exchange rate, the interest rates on foreign and domestic currencies time deposits, and domestic and foreign inflation. Monthly Georgian data for the period 1996–2007 are employed in the analysis. Findings indicate that the U.S. dollar is a strong substitute for the domestic currency and has a significant share in domestic liquidity services. The historical dollarization is well explained by the exchange rate model.
Permanent Link: http://hdl.handle.net/11104/0211243