1. Repositorio institucional de CLACSO
2. Colección de los Centros Asociados
3. Perú
4. Centro de Investigación - UP - CIUP - Cosecha

Título :	Financial de-dollarization: a global perspective and the Peruvian experience (Capítulo) 
Palabras clave :	Dolarización--Perú;Política monetaria--Perú
Editorial :	Universidad del Pacífico
Descripción :	We 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.
Otros identificadores :	https://hdl.handle.net/11354/3194
Aparece en las colecciones:	Centro de Investigación - UP - CIUP - Cosecha

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