Foreword

The authors of this book, Emre Ozsoz and Erick W. Rengifo, offer a stimulating analysis of dollarization in emerging and developing economies. They discuss major and historical developments regarding partial dollarization and cover the experience of many individual countries in several regions including Latin America, Central and Eastern Europe, Asia and Sub-Saharan Africa. They provide an analysis of motives for dollarization and also discuss pros and cons of dollarization. In addition, they cover the literature on the impact of dollarization on banking systems and financial development and evaluate recent policy interventions in dollarized economies.

It is well known that dollarization is directly related to many major macroeconomic ...

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