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Dollarization in emerging markets: evidence from Georgia
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SYSNO ASEP 0380574 Document Type J - Journal Article R&D Document Type Journal Article Subsidiary J Článek ve WOS Title Dollarization in emerging markets: evidence from Georgia Author(s) Loiseau-Aslanidi, Olga (NHU-C) Source Title Emerging Markets Finance and Trade - ISSN 1540-496X
Roč. 48, č. 3 (2012), s. 70-84Number of pages 15 s. Language eng - English Country US - United States Keywords dollarization ; Georgia ; money-in-utility function Subject RIV AH - Economics Institutional support NHU-C - PRVOUK-P23 UT WOS 000309269200005 DOI https://doi.org/10.2753/REE1540-496X480304 Annotation 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. Workplace NHU-C Contact Tomáš Pavela, pavela@cerge-ei.cz, Tel.: 224 005 122 Year of Publishing 2013
Number of the records: 1