Comparative Economic Studies articles from September 2003

Comparative Economic Studies archives from September 2003

Editor's introduction to special issue of Comparative Economic Studies 8th Dubrovnik Economics Conference on currency substitution and monetary policy in emerging market economies.(Editorial)
September 1, 2003... The 8th Annual Dubrovnik Economic Conference was held on 27-29 June 2002 in Cavtat, Croatia, a few miles from the historical city of Dubrovnik. Although the Dubrovnik conferences were started as a forum for research on the transition...

The euro goes east (1).
September 1, 2003... INTRODUCTION (2) Currency substitution is a particularly interesting issue in the broad geographical neighbourhood of the euro area, as in some countries in south-east Europe the euro is circulating as a parallel currency. This means that...

Original sin and the exchange rate regime debate: lessons from Latin American and transition countries.
September 1, 2003... INTRODUCTION The financial crises of the 1990s have ignited an intense debate about the international financial architecture. The question of what exchange rate regime is optimal for emerging market countries (EMCs) becoming integrated...

Monetary policy under dollarisation: the case of Croatia.
September 1, 2003... INTRODUCTION The development of monetary policy in Croatia has taken place under a relatively unusual set of circumstances. War and establishment of a new country combined with transition to a market economy in the early 1990s. The country...

Dollarisation and indexation in Israel's inflation and disinflation: 'there's more than one way to skin a cat'.
September 1, 2003... INTRODUCTION Israel's experience with dollarisation and currency substitution has been different from these phenomena in most developing and emerging market economies. Israel's long experience with chronic, moderate inflation, along with a...

On the link between dollarisation and inflation: evidence from Turkey (1).
September 1, 2003... INTRODUCTION High and volatile inflation has been one of the salient features of the Turkish economy since the 1970s. Evolution of inflation in Turkey differs from other high inflation episodes in one important respect. Contrary to many...

Dollarisation in the former Soviet Union: from hysteria to hysteresis.
September 1, 2003... INTRODUCTION We define dollarisation in the broadest terms as the use of foreign currency for store of value purposes, as a medium of exchange, and as a unit of account. It has its roots in macroeconomic instability, in particular high...

Dynamics of currency substitution, asset substitution and de facto dollarisation and euroisation in transition countries.
September 1, 2003... INTRODUCTION Dollarisation is the process of substituting a foreign currency for a domestic currency to fulfil the essential functions of money as a medium of exchange (currency substitution) and/or as a store of value (asset...

Prospects for regional monetary integration in Latin America: a view from the EU (1).
September 1, 2003... INTRODUCTION Since the early 1960s, a number of regional trade and economic integration processes involving Latin American countries have developed. They include, in historical order, the Central American Common Market (CACM), the Andean...

On the sustainability of euroisation/ dollarisation regimes: how important are fiscal transfers, offshore finance and tourism receipts?
September 1, 2003... INTRODUCTION Euroisation/dollarisation has become a prominent issue in the debate on strengthening the international financial architecture, as it is seen as one of the few sustainable exchange rate regimes in a world of increasing capital...