Search results for "Euroization"
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Euroizacja – pomiędzy zróżnicowaniem a pogłębioną integracją europejską
2022
Euroization, understood as the expansion of the euro, the currency performing most or all functions of money in international trade, raises many questions and controversies both in the public debate and in the scienti!c discourse. The objective of this paper is to reach beyond the above-mentioned narrow de!- nition of euroisation, limiting itself to the process of absorbing new members (territories, economies, etc.). The scope of euroisation develops subjectively – embracing new states, as well as objectively – new markets, instruments, etc. (e.g. rising share of deposits denominated in euro, outside of the euro-zone). It is important to notice that this process evolves both o#cially and un…
La dollarisation des économies émergentes
2002
Current discussions about dollarization/euroization are built on substitution models and cost/benefits analysis. This working paper aims to go beyond these explanations based on a functionalist definition of money. An institutionalist definition of money advocates analyzing de facto dollarization more broadly as a legitimacy crisis of the unit of account that damages monetary sovereignty and of whom authorities try to check in a kind o f institutional resistance. A macroeconomic definition of money involves questionning full and de jure dollarization consistency with both of principles guiding the monetary economy of production: (1) endogeneity of money; (2) merger between monetary space an…