Dollarization, inflation volatility and underdeveloped financial markets in transition economies

@inproceedings{Ruslan2003DollarizationIV,
  title={Dollarization, inflation volatility and underdeveloped financial markets in transition economies},
  author={Piontkovsky Ruslan},
  year={2003}
}
The paper analyzes the phenomenon of dollarization in a sample of transition economies: Ukraine, Russia, Poland, Czech Republic, Romania, Slovenia, Croatia, Latvia, and Lithuania. Using the Thomas' portfolio balance model, the author tests how the degree of dollarization depends on the relative returns on financial assets, inflation volatility, and financial market development. The main conclusion from the analysis is that relative returns on assets (bank deposits in the domestic currency… CONTINUE READING

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