Extending the determinants of dollarization in sub-Saharan Africa: The role of easy access to foreign exchange earnings

Aizenman, 2005, Sargent-Wallace meets Krugman-flood garber or: why sovereign debt swaps do not avert macroeconomic crises, Econ. J., 115, 343, 10.1111/j.1468-0297.2005.00992.x Ajide, 2016, Institutions-FDI nexus in ECOWAS countries, J.African Bus., 17, 319, 10.1080/15228916.2016.1180778 Akinlo, 2003, Exchange rate depreciation and currency substitutionin Nigeria, Afr. Rev. Money Finance Bank., 16, 139 Arango, 1981, Demand for money in open economies, J. Monetary Econ., 7, 69, 10.1016/0304-3932(81)90052-0 Arteta, 2002 Arteta, 2003 Asel, 2010 Asongu, 2016, Enhancing ICT for inclusive human development in sub-Saharan africa Asongu, 2016, Revolution empirics: predicting the Arab spring, Empirical Econ., 51, 439, 10.1007/s00181-015-1013-0 Asongu, 2016, Mobile phones in the diffusion of knowledge for institutional quality in sub-Saharan Africa, World Dev., 86, 133, 10.1016/j.worlddev.2016.05.012 Balino, 1999, Monetary policy inDollarized economies Basso, 2011, Financial dollarization: the role of foreign-owned banks and interest rates, J. Bank. Finance, 35, 794, 10.1016/j.jbankfin.2010.11.018 Berkmen, 2010, Exchange rate policy and liability dollarization: what do the data reveal about causality?, Rev. Int. Econ., 1, 781, 10.1111/j.1467-9396.2010.00890.x Bordo, 1982, Currency substitution and demand for money: some evidence from Canada, J. Money Credit Bank., 14, 48, 10.2307/1991491 Calvo, 1989 Calvo, 2003, The mirage of exchange rate regimes for emerging market countries, J. Econ. Perspect., 17, 98, 10.1257/089533003772034916 Calvo, 1992, Currency substitution in developing countries, Rev. Anal. Econ., 7, 3 Canzoneri, 1992, The inflation discipline of currency substitution, Eur. Econ. Rev., 36, 827, 10.1016/0014-2921(92)90060-A Carson, 2007, The Tobit model with a non-zero threshold, Econom. J., 10, 488, 10.1111/j.1368-423X.2007.00218.x Catao, 2000, Determinants of dollarization: theBanking side Civcir, 2003, Money demand financial liberalization and currency substitution inTurkey, J. Econ. Stud., 30, 514, 10.1108/01443580310492817 De Nicolò, 2003 De Nicoló, 2005, Dollarization of bank deposits: causes and consequences, J. Bank. Finance, 29, 1697, 10.1016/j.jbankfin.2004.06.033 Doblas-Madrid, 2009, Fiscal trends and self-Fulfilling crises, Rev. Int. Econ., 17, 187, 10.1111/j.1467-9396.2008.00784.x Eichengreen, 2000 Eichengreen, 2001, What problems can dollarization solve?, J. Policy Model., 23, 267, 10.1016/S0161-8938(01)00046-1 Erasmus, 2009, Dedollarization in Liberia—Lessons from cross-country experience Giovannini, 1994, Currency substitution, 390 Goldfled, 1973, The demand for money revisited, Brook. Pap. Econ. Act., 4, 577, 10.2307/2534203 Greene, 2003 Honig, 2005, Fear of floating and domestic liability dollarization, Emerg. Mark. Rev., 6, 289, 10.1016/j.ememar.2005.06.001 Honig, 2009, Dollarization exchange rate regimes, and government quality, J. Int. Money Finance, 28, 198, 10.1016/j.jimonfin.2008.11.004 Honohan, 2002, Deposit dollarization and the financial sector in emerging economies IMF, 2005, 39, 318 IMF, 2015 Imam, 2009, Introducing the euro as legal tender-Benefits and costs of eurorization for Cape Verde Ize, 2003, Financial dollarization, J. Int. Econ., 59, 323, 10.1016/S0022-1996(02)00017-X Ize, 2005, Financial de-dollarization: is it for real? Ize, 2002, Dollarization, Monetary Policy, and the Pass Through Ize, 2013, Financial dollarization, The Evidence and Impact of Financial Globalization, Chapter 32, 463, 10.1016/B978-0-12-397874-5.00036-1 Jeanne, 2003, Why emerging markets borrow in foreign currency Kaplan, 2008, Currency substitution: evidence from Turkey, Int. Res. J. Finance Econ., 2, 158 Karras, 2002, Costs and benefits of dollarization: evidence from North central, and South america, J. Econ. Integr., 17, 502, 10.11130/jei.2002.17.3.502 Kennedy, 2003 Kessy, 2011, Dollarization in Tanzania: empirical evidence and cross-country experience Lane, 2006, The external wealth of nations mark II: revised and extended estimates of foreign assets and liabilities, 1970–2004, IMF Working Paper Series Number WP/06/69, 10.5089/9781451863291.001 Levy-Yeyati, 2005, Classifying exchange rate regimes: deeds vs? words, Eur. Econ. Rev., 49, 1603, 10.1016/j.euroecorev.2004.01.001 Levy-Yeyati, 2006, Financial dollarization: evaluating the consequences, Econ. Policy, 21, 61 Licandro, 2003 Long, 1997 Lundgren, 2013 Mundell, 1963, Capital mobility and stabilization policy under fixed and flexible exchange rates, Can. J. Econ. Political Sci., 29, 475, 10.2307/139336 Murray, 2003, Dollarization in Canada: where does the buck stop?, Econ. Finance, 14, 145 Neanidis, 2013, Institutions and financial dollarization: indirect effects based on a policy experiment, Econ. Lett., 121, 405, 10.1016/j.econlet.2013.09.027 Ramirez-Rojas, 1985, Currency substitution in Argentina, Mexico and Uruguay staff papers, Int. Monetary Fund, 32, 629, 10.2307/3866742 Reinhart, 2004, The modern history of exchange rate arrangements: a reinterpretation?, Q. J. Econ., 119, 1, 10.1162/003355304772839515 Sahay, 1996, Dollarization in transition economies: evidence and policy implications Savastano, 1992, The pattern of currency substitution in Latin America: an overview?, Rev. Anal. Econ., 71, 29 Savastano, 1996 Sharma, 2005, Currency substitution in Asian countries, J. Asian Econ., 16, 489, 10.1016/j.asieco.2005.04.013 Tobin, 1958, Estimation of relationships for limited dependent variables, Econometrica, 26, 24, 10.2307/1907382 Vieira, 2012, Financial dollarization and systemicrisks: new empirical evidence?, J. Int. Money Finance, 31, 1695, 10.1016/j.jimonfin.2012.03.007 Weymouth, 2011, Political institutions and property rights: veto players and foreign exchange commitments in 127 countries, Compar. Political Stud., 44, 211, 10.1177/0010414010382629 Wooldridge, 2002 Yinusa, 2008, Exchange rate volatility and the extent of currency substitution in Nigeria, Indian Econ. Rev., 43, 161 Yinusa, 2009, Macroeconomic fluctuations and DepositDollarization in sub-Saharan africa: evidence from panel data Yotopoulos, 1997, Financial crises and the benefits of mildly repressed exchange rates, Stockholm School of Economics Working Paper Series in Economics and Finance, No. 202