Yap, Josef T.
Dollarization: concepts and implications for monetary and exchange rate policy in the Philippines / - pp.88-105 - Vol. 28 No.1 First Semester 2001 .
Currency substitution implies the greater share of foreign currency in the asset holdings of domestic residents. Dollarization is the complete replacement of the local currency- in this case, the peso- by a foreign currency, most likely the US dollar. The paper finds that dollarization or official dollarization has both its costs and benefits but it is not a viable option for the Philippines at the moment.
Currency substitution
Dollarization
Exchange rate - Philippines
Foreign currency deposits (FCDs)
Monetary policy
Dollarization: concepts and implications for monetary and exchange rate policy in the Philippines / - pp.88-105 - Vol. 28 No.1 First Semester 2001 .
Currency substitution implies the greater share of foreign currency in the asset holdings of domestic residents. Dollarization is the complete replacement of the local currency- in this case, the peso- by a foreign currency, most likely the US dollar. The paper finds that dollarization or official dollarization has both its costs and benefits but it is not a viable option for the Philippines at the moment.
Currency substitution
Dollarization
Exchange rate - Philippines
Foreign currency deposits (FCDs)
Monetary policy