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dc.contributor.authorCatão, Luis
dc.contributor.authorTerrones, Marco
dc.date.accessioned2021-09-30T16:18:33Z
dc.date.accessioned2022-09-22T14:05:26Z
dc.date.available2021-09-30T16:18:33Z
dc.date.available2022-09-22T14:05:26Z
dc.date.issued2016-04
dc.identifier.citationCatão, L., & Terrones, M. (2016). Financial de-dollarization: A global perspective and the Peruvian experience. En G. Yamada, & D. Winkelried (Eds.), Política y estabilidad monetaria en el Perú: Homenaje a Julio Velarde, Banquero Central del año 2015 (pp. 121-144). Universidad del Pacífico. https://hdl.handle.net/11354/3194es_PE
dc.identifier.urihttps://hdl.handle.net/20.500.12032/55411
dc.description.abstractWe reappraise the cross-country evidence on the dollarization of domestic financial systems in emerging market economies. Amidst some striking heterogeneity of patterns across emerging regions, we identify a broad global trend towards financial sector de-dollarization from the early 2000s to the eve of the global financial crisis of 2008-09. Since then, de-dollarization has either broadly stalled or even been reversed in many economies, but a few have continued to de-dollarize through this date, suggesting that the inter-play of global and domestic factors is key. To gain further insight into such inter-play, we examine the experience of Peru since the early1990s and find that a number of global factors including low global interest rates, low global risk-aversion, and high commodity prices have aided financial de-dollarization. Domestic factors that raise the relative cost of dollar lending, such as the introduction of macro-prudential measures, also aid financial de-dollarization. The introduction and adherence to inflation targeting seem, however, to be key.en
dc.formatapplication/pdfes_PE
dc.language.isoenges_PE
dc.publisherUniversidad del Pacíficoes_PE
dc.relation.ispartofhttp://hdl.handle.net/11354/2207es_PE
dc.rightsinfo:eu-repo/semantics/openAccesses_PE
dc.rightsAtribución-NoComercial-SinDerivadas 4.0 Internacional*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/deed.es*
dc.subjectDolarización--Perúes_PE
dc.subjectPolítica monetaria--Perúes_PE
dc.titleFinancial de-dollarization: a global perspective and the Peruvian experience (Capítulo) es_PE
dc.typeinfo:eu-repo/semantics/bookPartes_PE


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