Franklin

Playing Monopoly with the Devil : Dollarization and Domestic Currencies in Developing Countries.

Author/Creator:
Hinds, Manuel.
Publication:
New Haven : Yale University Press, 2006.
Format/Description:
Book
1 online resource (296 pages)
Subjects:
Money -- Developing countries.
Currency question -- Developing countries.
Monetary policy -- Developing countries.
Form/Genre:
Electronic books.
Summary:
Why should a developing country surrender its power to create money by adopting an international currency as its own? This comprehensive book explores the currency problems that developing countries face and offers sound, practical advice for policy makers on how to deal with them. Manuel Hinds, who has extensive experience in real-world economic policy making, challenges the myths that surround domestic currencies and shows the clear rationality for dollarization or the use of a standard international currency. The book opens with an entertaining story of the Devil, who, through a series of common macroeconomic maneuvers, coaches the president of a mythical country into financial ruin. This ruler's path is not unlike that taken in several real developing countries, to their detriment. Hinds goes on to introduce new ways of thinking about financial systems and monetary behavior in Third World countries.
Contents:
Intro
Contents
Acknowledgments
Introduction
Part One The Unfulfilled Promisesof Local Currencies
1 The Standard of Value and the Reversed Liquidity Trap
2 The Unfulfilled Promises in the Financial System
3 The Unfulfilled Promises in Trade and Growth
4 The Costs of Stability
5 Missing Financial Globalization
Part Two The Reversed Liquidity Trapand Financial Crises
6 The Financial Risks of Monetary Regimes
7 The Currency Origins of Financial Crises
8 The Myth of the Lender of Last Resort
9 The Solution of Crises and the Aftermath
10 The Counterfactuals
Part Three The Optimal Currency Areaand the Choice of Currency
11 The Conventional Optimal Currency Area Theory
12 Toward a Redefinition of an Optimal Currency Area
13 Conclusions
Epilogue Werner von Bankrupt on the Art of Buying Countries with a Buck-Fifty
Notes
Index.
Notes:
Description based on publisher supplied metadata and other sources.
Local notes:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2021. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
Other format:
Print version: Hinds, Manuel Playing Monopoly with the Devil
ISBN:
9780300129779
9780300113303
OCLC:
923589607
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