ТЕОРЕТИЧНІ ПІДХОДИ ДО ВИЗНАЧЕННЯ ДОЛАРИЗАЦІЇ
Анотація
У статті висвітлено теоретичні засади доларизації як економічного явища та валютного режиму. Проаналізовано підходи в економічній літературі до визначення термінів «заміщення валют», «доларизація», «режим подвійної валюти», «євроїзація», «ксеномонетизація», «ринок паралельних валют», «двовалютність» та «феномен мультивалют» на позначення паралельного використання в економіці національної та іноземної валют, а також визначено відмінності між заміщенням валют та доларизацією. Систематизовано різні класифікації доларизації, які детально характеризують це явище з різних точок зору. Зроблено висновки, що загальноприйнятим терміном став термін «доларизація», який означає використання будь-якої іноземної валюти в грошовому обігу країни; термін «заміщення валют» є частковим варіантом доларизації, коли іноземна валюта виконує лише одну з функцій грошей – засобу обігу. Відзначено, що термін «доларизація» не позбавлений недоліків і ймовірно, що в процесі еволюції світової фінансової системи буде замінений на інший.
Посилання
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Spinelli, Franco. Currency Substitution, Flexible Exchange Rates, and the Case for International Monetary Cooperation: Discussion of a Recent Proposal. Staff Papers (International Monetary Fund). Vol. 30, No. 4 (Dec., 1983), pp. 755-783.
Thomas, Lee. Portfolio Theory and Currency Substitution. Journal of Money, Credit and Banking. Vol. 17, No. 3 (Aug., 1985), pp. 347-357.
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Girton, Lance and Roper, Don (1976). Theory and Implications of Currency Substitution. International Finance Discussion Papers (IFDP). The Federal Reserve System. Available at: https://www.federalreserve.gov/econres/ifdp/theory-and-implications-of-currency-substitution.htm.
Calvo, Guillermo and Rodríguez, Carlos (1977). A Model of Exchange Rate Determination under Currency Substitution and Rational Expectation. Journal of Political Economy. No. 3, pp. 617-625.
Miles, Marc (1978). Currency Substitution, Flexible Exchange Rates, and Monetary Independence. The American Economic Review. Vol. 68, No. 3, pp. 428-436.
McKinnon, Ronald (1982). Currency Substitution and Instability in the World Dollar Standard. The American Economic Review. Vol. 72, No. 3, pp. 320-333.
Cuddington, John (1983). Currency Substitution, Capital Mobility and Money Demand. Journal of International Money and Finance. No. 2, Issue 2, pp. 111-133.
Spinelli, Franco (1983). Currency Substitution, Flexible Exchange Rates, and the Case for International Monetary Cooperation: Discussion of a Recent Proposal. Staff Papers (International Monetary Fund). Vol. 30, No. 4, pp. 755-783.
Thomas, Lee (1985). Portfolio Theory and Currency Substitution. Journal of Money, Credit and Banking. Vol. 17, No. 3, pp. 347-357.
Virén, Matti (1990). McKinnon’s Currency Substitution Hypothesis: Some New Evidence. Bank of Finland Discussion Papers. No. 20/1990.
Giovannini, Alberto and Turtelboom, Bart (1992). Currency Substitution. NBER Working Papers. No. 4232, National Bureau of Economic Research, Inc.
Ortiz, Guillermo (1983). Currency Substitution in Mexico: The Dollarization Problem. Journal of Money, Credit and Banking. Vol. 15, No. 2, pp. 174-185.
Ortiz, Guillermo (1983). Dollarization in Mexico: Causes and Consequences. NBER Chapters, in: Financial Policies and the World Capital Market: The Problem of Latin American Countries, pp. 71-106, National Bureau of Economic Research, Inc.
Lamdany, Ruben and Dorlhiac, Jorge (1987). The Dollarization of a Small Economy. The Scandinavian Journal of Economics. Vol. 89, No. 1, pp. 91-102.
Melvin, Michael (1988). The Dollarization of Latin America as a Market-Enforced Monetary Reform: Evidence and Implications. Economic Development and Cultural Change. Vol. 36, No. 3, pp. 543-558.
Calvo, Guillermo and Végh, Carlos (1992). Currency Substitution in Developing Countries: An Introduction. IMF Working Papers. No. 92/40.
Guidotti, Pablo and Rodriguez, Carlos (1992). Dollarization in Latin America: Gresham’s Law in Reverse? IMF Staff papers. Vol. 39, No 3.
Yap, Josef (2001). Dollarization: Concepts and Implications for Monetary and Exchange Rate Policy in the Philippines. PIDS Discussion Paper Series. No. 2001-03. Philippine Institute for Development Studies.
De Nicolo, Gianni; Honohan, Patrick; Ize, Alain (2003). Dollarization of the Banking System: Good or Bad? IMF Working Papers. No. 2003/146.
Craig, Ben and Waller, Christopher (2000). Dual-currency Economies as Multiple-payment Systems. Economic Review, Federal Reserve Bank of Cleveland. Issue Q I, pp 2-13.
Feige, Edgar (2003). Dynamics of Currency Substitution, Asset Substitution and De facto Dollarisation and Euroisation in Transition Countries. Comparative Economic Studies, Palgrave Macmillan; Association for Comparative Economic Studies. Vol. 45 (3), pp. 358-383.
Valle, Guido della; Kota, Vasilika; Veyrune, Romain; Cabezon, Ezequiel; Guo, Shaoyu (2018). Euroization Drivers and Effective Policy Response: An Application to the case of Albania. IMF Working Papers. No. 2018/021.
Minda, Alexandre (2005). La Dollarisation Intégrale: Une Option Monétaire de Dernier Ressort pour l'Amérique Latine? Mondes en Développement, De Boeck Université. Vol. 130 (2), pp 15-39.
Cambazoğlu, Birgül (2019). Xenomonetisation: is it dollarization? In book: Current Debates in Economic Growth & Public Finance & Game Theory Studies. IJOPEC, pp.23-39.
Agenor, Pierre-Richard (1990). Parallel Currency Markets in Developing Countries. IMF Working Papers. Vol. 1990, Issue 114.
Nowak, Alojzy (2001). Dolar czy euro pieniądzem przyszłości? (Części 1 i 2). Studia Europejskie. Nr 1/2001 i 2/2001.
Menon, Jayant (2007). Dollarization and the Multiple Currency Phenomenon in Lao PDR: Costs, Benefits and Policy Options. ADB Institute Discussion Paper. No. 58.
Lapchuk, Bohdan (2008). Klasyfikatsii dolaryzatsii v suchasniy ekonomichniy nautsi [Classifying Dollarization in Contemporary Economics]. Visnyk of the Lviv University. Series Economics. No 39, pp. 274-275. (in Ukrainian).
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