Playing monopoly with the devil dollarization and domestic currencies in developing countries - Hinds, Manuel (Yale University Press, 2006)
"A Council on Foreign Relations book."
Includes bibliographical references (p. 245-248) and index
The standard of value and the reversed liquidity trap -- The unfulfilled promises in the financial system -- The unfulfilled promises in trade and growth -- The costs of stability -- Missing financial globalization -- The financial risks of monetary regimes -- The currency origins of financial crises -- The myth of the lender of last resort -- The solution of crises and the aftermath -- The counterfactuals -- The conventional optimal currency area theory -- Toward a redefinition of an optimal currency area
Why should a developing country surrender its power to create money by adopting an international currency as its own? This book explores the currency problems that developing countries face and offers practical advice for policymakers on how to deal with them