The Monetary Crisis of Lebanon

References

Amstad, M., F. Packer, and J. Shek. 2020. “Does Sovereign Risk in Local and Foreign Currency Differ?” Journal of International Money and Finance 101: 102099, doi:https://doi.org/10.1016/j.jimonfin.2019.102099.Search in Google Scholar

Asonuma, T. 2016. “Sovereign Defaults, External Debt, and Real Exchange Rate Dynamics.” IMF Working Paper WP/16/37.10.5089/9781475597738.001Search in Google Scholar

Athukorala, P.-C., and P. Warr. 2002. “Vulnerability to a Currency Crisis: Lessons from the Asian Experience.” World Economy 25 (1): 33–57, https://doi.org/10.1111/1467-9701.00419.Search in Google Scholar

Baldi-Delatte, A. L. 2009. “A Counterfactual Analysis of the Argentinian Monetary Transformation in 2002.” Applied Economics 41 (27): 3533–44, https://doi.org/10.1080/00036840701522879.Search in Google Scholar

Bitar, J. 2019. “Dollar Liquidity, Money and Credit in a Small Open Dollarized Economy.” Unpublished.Search in Google Scholar

Bitar, J. 2021a. “The Unique Dollarization Case of Lebanon.” Economic Systems 45 (2): 100765. https://doi.org/10.1016/j.ecosys.2020.100765.Search in Google Scholar

Bitar, J. 2021b. “Foreign Currency Intermediation – Systemic Risk and Macroprudential Regulation.” Latin American Journal of Central Banking 2 (2): 100028, https://doi.org/10.1016/j.latcb.2021.100028..Search in Google Scholar

Calomiris, C. W. 2007. “Devaluation with Contract Redenomination in Argentina.” Annals of Finance 3 (1): 155–92, https://doi.org/10.1007/s10436-006-0064-9.Search in Google Scholar

Caprio, G., M. Dooley, D. Leipziger, and C. Walsh. 1996. “The Lender of Last Resort Function under a Currency Board: The Case of Argentina.” Open Economies Review 7: 625–50, doi:https://doi.org/10.1007/bf01886217.Search in Google Scholar

Chang, R., and A. Velasco. 2001. “A Model of Financial Crises in Emerging Markets.” The Quarterly Journal of Economics 116 (2): 489–517, https://doi.org/10.1162/00335530151144087.Search in Google Scholar

Damill, M., R. Frenkel, and M. Rapetti. 2015. “Macroeconomic Policy in Argentina During 2002–2013.” Comparative Economic Studies 57 (3): 369–400, https://doi.org/10.1057/ces.2015.3.Search in Google Scholar

Desquilbet, J.-B. 2007. “Les contraintes de la politique monetaire libanaise (1993–2004): endettement public, dollarisation et taux de change fixe.” L’Actualite Economique 83 (2): 163–99.10.7202/017516arSearch in Google Scholar

Frenkel, R., and M. Rapetti. 2008. “Five Years of Competitive and Stable Real Exchange Rate in Argentina, 2002–2007.” International Review of Applied Economics 22 (2): 215–26, https://doi.org/10.1080/02692170701880734.Search in Google Scholar

Gennaioli, N., A. Martin, and S. Rossi. 2014. “Sovereign Default, Domestic Banks, and Financial Institutions.” The Journal of Finance 69 (2): 819–66, https://doi.org/10.1111/jofi.12124.Search in Google Scholar

Gourinchas, P.-O., and H. Rey. 2007. “International Financial Adjustment.” Journal of Political Economy 115 (4): 665–703, https://doi.org/10.1086/521966.Search in Google Scholar

Gourinchas, P.-O., and H. Rey. 2014. “External Adjustment, Global Imbalances, Valuation Effects.” In Handbook of International Economics, 4, 585–645. Amsterdam, The Netherlands: Elsevier.10.3386/w19240Search in Google Scholar

Hausmann, R., and A. Velasco. 2002. “Hard Money’s Soft Underbelly: Understanding the Argentine Crisis.” Brookings Trade Forum 2002: 59–104, doi:https://doi.org/10.1353/btf.2003.0006.Search in Google Scholar

Honohan, P. 2008. “The Retreat of Deposit Dollarization.” International Finance 11 (3): 247–68, https://doi.org/10.1111/j.1468-2362.2008.01223.x.Search in Google Scholar

Ize, A., M. Kiguel, and E. Levy-Yeyati. 2006. “Managing Systemic Liquidity Risk in Financially Dollarized Economies.” Financial Dollarization: 216–40, https://doi.org/10.1057/9780230380257_9.Search in Google Scholar

Jeanneret, A., and S. Souissi. 2016. “Sovereign Defaults by Currency Denomination.” Journal of International Money and Finance 60: 197–222, https://doi.org/10.1016/j.jimonfin.2015.03.004.Search in Google Scholar

Krugman, P. 1979. “A Model of Balance-of-Payments Crises.” Journal of Money, Credit, and Banking 11 (3): 311–25, https://doi.org/10.2307/1991793.Search in Google Scholar

Lane, P. R., and G. M. Milesi-Ferretti. 2018. “The External Wealth of Nations Revisited: International Financial Integration in the Aftermath of the Global Financial Crisis.” IMF Economic Review 66 (1): 189–222, https://doi.org/10.1057/s41308-017-0048-y.Search in Google Scholar

Levy Yeyati, E. 2008. “Liquidity Insurance in a Financially Dollarized Economy.” In Financial Markets Volatility and Performance in Emerging Markets, 185–218. University of Chicago Press. http://www.nber.org/chapters/c4778.10.7208/chicago/9780226185040.003.0007Search in Google Scholar

Marshall, W. C. 2008. “Foreign Banks and Political Sovereignty: The Case of Argentina.” Review of Political Economy 20 (3): 349–66, https://doi.org/10.1080/09538250802170392.Search in Google Scholar

Mehrling, P. 2012. “The Inherent Hierarchy of Money.” Social Fairness and Economics: Economic Essays in the Spirit of Duncan Foley 169: 394.Search in Google Scholar

Mehrling, P. 2013. “Essential Hybridity: A Money View of Fx.” Journal of Comparative Economics 41 (2): 355–63, https://doi.org/10.1016/j.jce.2013.03.007.Search in Google Scholar

Mueller, J. 1994. “Dollarization in Lebanon.” IMF Working Paper No. 94/129.10.5089/9781451934618.001Search in Google Scholar

Murau, S. 2018. “Offshore Dollar Creation and the Emergence of the Post-2008 International Monetary System.” IASS Discussion Paper.10.2139/ssrn.3191981Search in Google Scholar

Na, S., S. Schmitt-Grohé, M. Uribe, and V. Yue. 2018. “The Twin Ds: Optimal Default and Devaluation.” American Economic Review 108 (7): 1773–819, https://doi.org/10.1257/aer.20141558.Search in Google Scholar

Neaime, S. 2004. “Sustainability of Budget Deficits and Public Debt in Lebanon: A Stationarity and Co-integration Analysis.” Review of Middle East Economics and Finance 2 (1): 42–60, https://doi.org/10.2202/1475-3693.1019.Search in Google Scholar

Neaime, S. 2015. “Twin Deficits and the Sustainability of Public Debt and Exchange Rate Policies in Lebanon.” Research in International Business and Finance 33: 127–43, https://doi.org/10.1016/j.ribaf.2014.09.004.Search in Google Scholar

Obstfeld, M. 1996. “Models of Currency Crises with Self-Fulfilling Features.” European Economic Review 40 (3–5): 1037–47, https://doi.org/10.1016/0014-2921(95)00111-5.Search in Google Scholar

Ozkan, F. G. 2005. “Currency and Financial Crises in turkey 2000–2001: Bad Fundamentals or Bad Luck?” World Economy 28 (4): 541–72, https://doi.org/10.1111/j.1467-9701.2005.00691.x.Search in Google Scholar

Papazian, A. 2009. “Trust, Freedom, and Wealth Creation: A Political Economy of Dollarization in Lebanon.” In: Globalization and Development: A Handbook of New Perspectives. Oxford University Press: 98–117.10.2139/ssrn.895302Search in Google Scholar

Reinhart, C. M. 2002. “Default, Currency Crises, and Sovereign Credit Ratings.” The World Bank Economic Review 16 (2): 151–70, https://doi.org/10.1093/wber/16.2.151.Search in Google Scholar

Rogers, J. H. 1992. “Convertibility Risk and Dollarization in Mexico: A Vector Autoregressive Analysis.” Journal of International Money and Finance 11 (2): 188–207, https://doi.org/10.1016/0261-5606(92)90041-u.Search in Google Scholar