FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W2042202887> ?p ?o ?g. }

• W2042202887 abstract "I. INTRODUCTION In the late 1980s, a common joke in Poland was: What do America and Poland have in common? In America, you can buy everything for dollars and nothing for zlotys. In Poland, it is exactly the same. The Polish experience with the domestic use of dollars is not unique. In many developing countries, prices of homes, automobiles, and other durable goods purchases are in U.S. dollars. This has been particularly true for Latin American countries since the debt crisis of the early 1980s and for the Eastern European bloc since the socialist system's 1989 breakdown. As a result of high and unstable inflation rates, actual payment for big-ticket items typically is in dollars rather than in the domestic currency. Dollarization refers to using dollars instead of domestic currency as a unit of account, store of value, or medium of exchange. Such dollarization of an economy is symptomatic of a significant history of macroeconomic instability. II. SOURCES AND PATTERNS OF DOLLARIZATION Federal Reserve Chairman Alan Greenspan once told the U.S. Congress that half of all U.S. currency may circulate outside U.S. borders. Porter and Judson (1995) estimate that approximately two-thirds of the increase in U.S. currency since 1990 has left the United States. How does this money find its way out of the United States and into Israel Mexico, or Poland? A. Dollars, Drugs, and Dutiful Relatives in the United States A major source of dollar currency outflows is foreign workers in the United States who send money home. Developing countries with large numbers of immigrant workers in the United States tend to be highly dollarized. For instance, Polish-Americans have long sent dollars to relatives in Poland. This helps explain why Poland has experienced the greatest degree of dollarization in Eastern Europe. In addition, illicit commercial activity is a major contributor to dollar currency flows abroad. Much of the U.S. dollar currency circulating in Bolivia, Colombia, and Peru is widely assumed to be earned from drug trafficking. Medina (1986) estimates that in 1985, 80 percent of foreign currency in the Bolivian private sector came from coca and cocaine production. For instance, Bolivian farmers in the coca-producing regions cultivate plants to provide leaves from which the locals extract coca paste used as the base for manufacturing cocaine in Bolivia and elsewhere. Since these activities' products are sold for U.S. dollars, the dollar currency flow entering the region reflects the harvest seasons. The U.S. Agency for International Development (see Ladman and Luna, 1988) shows that the mean dollarization ratio is highest (81 percent) in the South American fall (March, April, and May) - when the main coca leaf harvest occurs - and lowest (64 percent) in the South American spring (September, October, and November). The inflow of money related to drug trade is not easily observable, but numerous anecdotes confirm the role of drugs in Latin America's dollarization. Kandell (1989) quotes a Peruvian central bank official as saying that the sale of coca paste to Colombian drug cartels annually earns between $800 million and $1 billion. The same article observes that a Huallaga valley coca baron's sale of a large quantity of dollars to foreign exchange houses led to an exchange rate drop from 3,200 to 3,000 intis per dollar in one afternoon in Lima. Undoubtedly, illicit activity plays a significant role in the dollarization of some countries. B. More Than Anecdotal Evidence Lack of comprehensive data has hampered scholars' attempts to estimate the degree of dollarization in developing countries. That dollar currency is circulating in many developing countries is common knowledge, but the precise amounts are unknown. Also unknown is the extent to which domestic residents hold dollar-denominated bank deposits abroad. As a result, empirical work on the subject usually focuses on countries that permit dollar-denominated domestic bank deposits. …" @default.
• W2042202887 created "2016-06-24" @default.
• W2042202887 creator A5019956205 @default.
• W2042202887 creator A5065958401 @default.
• W2042202887 date "1996-07-01" @default.
• W2042202887 modified "2023-09-23" @default.
• W2042202887 title "DOLLARIZATION IN DEVELOPING COUNTRIES: RATIONAL REMEDY OR DOMESTIC DILEMMA?" @default.
• W2042202887 cites W1538313368 @default.
• W2042202887 cites W2046059845 @default.
• W2042202887 cites W2074563933 @default.
• W2042202887 cites W2082837003 @default.
• W2042202887 cites W3121674916 @default.
• W2042202887 cites W3123909265 @default.
• W2042202887 doi "https://doi.org/10.1111/j.1465-7287.1996.tb00622.x" @default.
• W2042202887 hasPublicationYear "1996" @default.
• W2042202887 type Work @default.
• W2042202887 sameAs 2042202887 @default.
• W2042202887 citedByCount "16" @default.
• W2042202887 countsByYear W20422028872016 @default.
• W2042202887 countsByYear W20422028872018 @default.
• W2042202887 countsByYear W20422028872022 @default.
• W2042202887 crossrefType "journal-article" @default.
• W2042202887 hasAuthorship W2042202887A5019956205 @default.
• W2042202887 hasAuthorship W2042202887A5065958401 @default.
• W2042202887 hasConcept C10138342 @default.
• W2042202887 hasConcept C109168655 @default.
• W2042202887 hasConcept C120527767 @default.
• W2042202887 hasConcept C121332964 @default.
• W2042202887 hasConcept C12472996 @default.
• W2042202887 hasConcept C141121606 @default.
• W2042202887 hasConcept C162324750 @default.
• W2042202887 hasConcept C18547055 @default.
• W2042202887 hasConcept C200941418 @default.
• W2042202887 hasConcept C2776460941 @default.
• W2042202887 hasConcept C33332235 @default.
• W2042202887 hasConcept C556758197 @default.
• W2042202887 hasConcept C70455891 @default.
• W2042202887 hasConceptScore W2042202887C10138342 @default.
• W2042202887 hasConceptScore W2042202887C109168655 @default.
• W2042202887 hasConceptScore W2042202887C120527767 @default.
• W2042202887 hasConceptScore W2042202887C121332964 @default.
• W2042202887 hasConceptScore W2042202887C12472996 @default.
• W2042202887 hasConceptScore W2042202887C141121606 @default.
• W2042202887 hasConceptScore W2042202887C162324750 @default.
• W2042202887 hasConceptScore W2042202887C18547055 @default.
• W2042202887 hasConceptScore W2042202887C200941418 @default.
• W2042202887 hasConceptScore W2042202887C2776460941 @default.
• W2042202887 hasConceptScore W2042202887C33332235 @default.
• W2042202887 hasConceptScore W2042202887C556758197 @default.
• W2042202887 hasConceptScore W2042202887C70455891 @default.
• W2042202887 hasLocation W20422028871 @default.
• W2042202887 hasOpenAccess W2042202887 @default.
• W2042202887 hasPrimaryLocation W20422028871 @default.
• W2042202887 hasRelatedWork W1524195477 @default.
• W2042202887 hasRelatedWork W1553735210 @default.
• W2042202887 hasRelatedWork W1591890373 @default.
• W2042202887 hasRelatedWork W16590498 @default.
• W2042202887 hasRelatedWork W189402237 @default.
• W2042202887 hasRelatedWork W1971047512 @default.
• W2042202887 hasRelatedWork W1985283135 @default.
• W2042202887 hasRelatedWork W1986277021 @default.
• W2042202887 hasRelatedWork W2080665321 @default.
• W2042202887 hasRelatedWork W2097637760 @default.
• W2042202887 hasRelatedWork W2121620230 @default.
• W2042202887 hasRelatedWork W2146811507 @default.
• W2042202887 hasRelatedWork W2249385959 @default.
• W2042202887 hasRelatedWork W225862593 @default.
• W2042202887 hasRelatedWork W2259976747 @default.
• W2042202887 hasRelatedWork W239007983 @default.
• W2042202887 hasRelatedWork W2597869967 @default.
• W2042202887 hasRelatedWork W3123358977 @default.
• W2042202887 hasRelatedWork W3125383288 @default.
• W2042202887 hasRelatedWork W2105858162 @default.
• W2042202887 isParatext "false" @default.
• W2042202887 isRetracted "false" @default.
• W2042202887 magId "2042202887" @default.
• W2042202887 workType "article" @default.