Dollarization: concepts and implications for monetary and exchange rate policy in the Philippines /
By: Yap, Josef T.
Series: Vol. 28 No.1 First Semester 2001.Description: pp.88-105.Subject(s): Currency substitution | Dollarization | Exchange rate - Philippines | Foreign currency deposits (FCDs) | Monetary policyOnline resources: Click here to access online In: Philippine Journal of DevelopmentSummary: 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.No physical items for this record
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.