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The Pros and Cons of Full Dollarization

Andrew Berg and Eduardo R. Borensztein

in The Dollarization Debate

Published in print:
2003
Published Online:
November 2003
ISBN:
9780195155358
eISBN:
9780199832989
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195155351.003.0004
Subject:
Economics and Finance, International

This chapter examines the benefits and costs of full dollarization. It considers emerging market economies in Latin America exposed to volatile capital flows, but not necessarily close, in an ... More


Corporate Management of Foreign Currency Risk: Conceptual Framework, Policies, and Strategies

RAJ AGGARWAL

in International Finance: A Survey

Published in print:
2012
Published Online:
May 2013
ISBN:
9780199754656
eISBN:
9780199979462
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199754656.003.0021
Subject:
Economics and Finance, Financial Economics, International

In perfectly efficient markets, managing business exposure to losses associated with currency changes should not result in added value since unanticipated changes cannot be hedged costlessly. In ... More


Corporate Risk Management in the Multinational Firm

ULRICH HOMMEL and TOBIAS PROKESCH

in International Finance: A Survey

Published in print:
2012
Published Online:
May 2013
ISBN:
9780199754656
eISBN:
9780199979462
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199754656.003.0004
Subject:
Economics and Finance, Financial Economics, International

Multinational companies are nowadays operating in a highly globalized and increasingly integrated business environment. They need to cope with rising volatilities, especially in currency markets, as ... More


The Dollarization Debate in Argentina and Latin America

Pablo E. Guidotti and Andrew Powell

in International Financial Markets: The Challenge of Globalization

Published in print:
2003
Published Online:
February 2013
ISBN:
9780226032146
eISBN:
9780226032153
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226032153.003.0006
Subject:
Economics and Finance, International

This chapter provides an account of the events that that prompted the Argentine government in the 1990s to consider a full dollarization of the economy subject to a monetary agreement with the United ... More


The Financial Risks of Monetary Regimes

Manuel Hinds

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

Published in print:
2006
Published Online:
October 2013
ISBN:
9780300113303
eISBN:
9780300129779
Item type:
chapter
Publisher:
Yale University Press
DOI:
10.12987/yale/9780300113303.003.0007
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter analyzes the financial risks of monetary regimes. The focus is on risks posed by regimes based on local currencies exclusively; risks subject to spontaneous dollarization; and the risks ... More


Very High Interest Rates and the Cousin Risks: Brazil During the Real Plan

Márcio G. P. Garcia and Tatiana Didier

in Latin American Macroeconomic Reforms: The Second Stage

Published in print:
2003
Published Online:
February 2013
ISBN:
9780226302676
eISBN:
9780226302683
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226302683.003.0004
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter examines the determinants of interest rates in Brazil. Based on the interest parity conditions, it considers the behavior of so-called cousin risks: the currency risk and the country ... More


Other Risks in Frontier Markets

Marko Dimitrijević and Timothy Mistele

in Frontier Investor: How to Prosper in the Next Emerging Markets

Published in print:
2016
Published Online:
September 2017
ISBN:
9780231170444
eISBN:
9780231542357
Item type:
chapter
Publisher:
Columbia University Press
DOI:
10.7312/columbia/9780231170444.003.0013
Subject:
Business and Management, Strategy

Looks at the macro- and microeconomic and “headline” risks of investing in frontier markets.


The Currency Origins of Financial Crises

Manuel Hinds

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

Published in print:
2006
Published Online:
October 2013
ISBN:
9780300113303
eISBN:
9780300129779
Item type:
chapter
Publisher:
Yale University Press
DOI:
10.12987/yale/9780300113303.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter analyzes how currency risk has been the fundamental cause of all the financial crises in developing countries, and discusses how, in all such crises, the trigger has been a currency run ... More


Foreign Currency

Ananth N. Madhavan

in Exchange-Traded Funds and the New Dynamics of Investing

Published in print:
2016
Published Online:
August 2016
ISBN:
9780190279394
eISBN:
9780190279424
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190279394.003.0010
Subject:
Economics and Finance, Financial Economics

This chapter shows how investors can gain direct exposure to a particular currency or basket of currencies, and also why hedged funds are increasingly popular. The question of whether to hedge or not ... More


External Vulnerabilities

Yilmaz Akyüz

in Playing with Fire: Deepened Financial Integration and Changing Vulnerabilities of the Global South

Published in print:
2017
Published Online:
July 2017
ISBN:
9780198797173
eISBN:
9780191838668
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198797173.003.0004
Subject:
Economics and Finance, Financial Economics, Development, Growth, and Environmental

The deepened financial integration of EDEs has heightened their susceptibility to global financial shocks and increased the instability in their credit, assets, and currency markets. It has led to ... More


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