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Currency substitution : evidence from Nigeria

Doguwa, Sani I. - In: CBN journal of applied statistics 5 (2014) 2, pp. 1-23

This paper examines the existence, causes and effects of currency substitution in Nigeria by estimating conventional money demand equations based on a partial adjustment and an autoregressive distributed lag models using three definitions of monetary aggregates. The behavior of the foreign...

Persistent link: https://www.econbiz.de/10011488762

Financial development and dollarization in Ghana : an empirical investigation

Tweneboah, George; Gatsi, John Garchie; Asamoah, … - In: Cogent economics & finance 7 (2019) 1, pp. 1-21

This study strengthens the frontiers of research on the drivers of dollarization in emerging economies by exploring the … 2002 to March 2016. The evidence suggests that dollarization shares a common stochastic trend with exchange rates … exchange rate depreciation and financial development in the evolution of dollarization. Whereas depreciation induces a switch …

Persistent link: https://www.econbiz.de/10014232353

Currency substitution and the stability of the Italian demand for money before the entry into the monetary union, 1972 - 1998

Nielsen, Hannah; Tullio, Giuseppe; Wolters, Jürgen - 2000

A money demand function for M2 is estimated for Italy for the period 1972-1998 within an error correction framework. This period has been characterized by major structural changes in the Italian financial system and by major changes in monetary policy. This study takes these changes into...

Persistent link: https://www.econbiz.de/10009611545

Choice of the Substitution Currency in Russia : How to Explain the Dollar's Dominance?

Dorbec, Anna - 2007

The analysis of external economic relations of Russia reveals a paradox: while Europe is the main trade and direct investment partner of Russia, this is far from being the case concerning its currency's role in Russia's financial activities. The dollar is much preferred by economic agents for...

Persistent link: https://www.econbiz.de/10012729550

The impact of dollarisation on economic growth, investment, and trade

Bajrami, Fisnik - 2023

Dollarisation has been extensively debated and is often promoted as a viable monetary and exchange rate policy alternative for emerging economies. While most arguments for and against dollarisation are grounded in theory, there is a recognized scarcity of empirical evidence on the topic. This...

Persistent link: https://www.econbiz.de/10014422437

Identifying US Monetary Policy Shocks Through Sign Restrictions in Dollarized Countries

Gobbi, Alessandro - 2011

Since dollarized countries import US monetary policy, identifying US monetary shocks through sign restrictions on US variables only, does not use all available information. In this paper, we therefore include dollarized countries, which enable us to restrict more variables and leave the...

Persistent link: https://www.econbiz.de/10013117809