Systemic Risk, Dollarization, and Interest Rates in Emerging Markets
This study investigates the impact of systemic risks and financial dollarization on real interest rates in emerging economies. Higher systemic risks induce both higher real interest rates and increased dollarization. Using appropriate instruments for the dollarization ratio, the study overcomes the...
| Main Authors: | , , |
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| Format: | Journal Article |
| Published: |
World Bank
2012
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10986/4496 |