01670cas a2200253 a 4500 AALejournalIMF007693 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451846966 1018-5941 BD-DhAAL BD-DhAAL Borensztein, Eduardo. The Pros and Cons of Full Dollarization / Eduardo Borensztein, Andrew Berg. Washington, D.C. : International Monetary Fund, 2000. 1 online resource (32 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We analyze the costs and benefits of full dollarization compared to its closest alternative, a currency board, quantifying for Argentina where possible. Potential advantages include lower borrowing costs and deeper integration into world markets. One cost is the transfer of seigniorage to the United States. The country may also lose the 'exit option' to devalue in the face of major shocks. Similarly, even a country with a currency board may lose some ability to act as lender of last resort to the banking system. We review how various country characteristics influence the balance of arguments. Mode of access: Internet Berg, Andrew. IMF Working Papers; Working Paper ; No. 2000/050 Full text available on IMF http://elibrary.imf.org/view/journals/001/2000/050/001.2000.issue-050-en.xml IMF e-Library