Dollarization: Concepts and Implications for Monetary and Exchange Rate Policy in the Philippines

Currency substitution implies the greater share of foreign currency in the asset holdings of domestic residents. Dollarization is the complete replacement of the local currency- in this case, the peso- by a foreign currency, most likely the US dollar. The paper finds that dollarization or official dollarization has both its costs and benefits but it is not a viable option for the Philippines at the moment.

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Year of publication:	2001
Authors:	Yap, Josef T.
Institutions:	Philippine Institute for Development Studies (PIDS), Government of the Philippines
Subject:	exchange rate policy \| monetary policy

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Extent:	application/pdf
Series:	Philippine Journal of Development.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number PJD 2001 Vol. XXVIII No. 1-d http://dirp4.pids.gov.ph/ris/pjd/pidspjd01-1dollarization.pdf
Source:	RePEc - Research Papers in Economics

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