Financial de-dollarization in Bolivia
DOI:
https://doi.org/10.24201/ee.v29i1.76Keywords:
dollarization, monetary policy, cointegration modelsAbstract
Using data for the period 1990-2010 and a portfolio optimization approach, we identify the causes of the process of financial de-dollarization in Bolivia (bolivianization). Cointegration tests showed the existence of a long-run relationship between de-dollarization and the optimizing portfolio approach. Additionally, we found that the Tax to Financial Transactions and the exchange rate spread are the most influential variables to determine bolivianization.
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