Playing Monopoly with the Devil : Dollarization and Domestic Currencies in Developing Countries

Intro -- Contents -- Acknowledgments -- Introduction -- Part One The Unfulfilled Promisesof Local Currencies -- 1 The Standard of Value and the Reversed Liquidity Trap -- 2 The Unfulfilled Promises in the Financial System -- 3 The Unfulfilled Promises in Trade and Growth -- 4 The Costs of Stability -- 5 Missing Financial Globalization -- Part Two The Reversed Liquidity Trapand Financial Crises -- 6 The Financial Risks of Monetary Regimes -- 7 The Currency Origins of Financial Crises -- 8 The Myth of the Lender of Last Resort -- 9 The Solution of Crises and the Aftermath -- 10 The Counterfactuals -- Part Three The Optimal Currency Areaand the Choice of Currency -- 11 The Conventional Optimal Currency Area Theory -- 12 Toward a Redefinition of an Optimal Currency Area -- 13 Conclusions -- Epilogue Werner von Bankrupt on the Art of Buying Countries with a Buck-Fifty -- Notes -- Index.