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TitleRevisiting dollarisation hysteresis : evidence from Bolivia, Turkey and Indonésia
Author(s)Freitas, Miguel Lebre de
KeywordsMoney demand
Currency substitution
Issue date2003
Series/Report no.NIPE Working paper series
Abstract(s)In this paper, we pick up three countries with different inflation experiences and dollarisation levels and we investigate whether dollarisation exhibits different reversibility patterns, as suggested by the literature. The sample includes a country that experienced hyperinflation (Bolivia), a high inflation country (Turkey) and a country that experienced moderate to low inflation (Indonesia). By providing evidence of dollarisation hysteresis in these three countries, this paper challenges the view according to which this phenomenon is confined to highly dollarised economies or to economies that experienced high inflation rates for long periods of time.
TypeWorking paper
AccessOpen access
Appears in Collections:NIPE - Documentos de Trabalho

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