Unravelling The Persistence of Dollarization: The Case of Georgia

By Ia Eradze

This volume engages with the roots, dimensions, and implications of foreign currency domination in states with a national currency. Referred to as unofficial dollarization in literature, this is a worldwide phenomenon among developing countries and has a long history.

This monograph provides a political economic analysis of dollarization in Georgia and is structured around three themes: the genesis of dollarization (1991-2003), the persistence of dollarization (2003-12) and the politicization of dollarization (2012-19). The case of Georgia is especially representative of the post-socialist transition states, but also has wider applicability.

A high level of dollarization is a significant barrier to economic growth, macroeconomic and political stability, functional monetary policy, as well as social welfare. The Covid-19 crisis and the increasing debt of developing countries in foreign currency exacerbate dollarization-related vulnerabilities for these economies.

This book will be of interest to postgraduate students in global/comparative political economy, development economics or transition economies, researchers in monetary sovereignty, central banking, exchange rate policies, currency hierarchy, money, financialization, and policy makers in dollarized countries and global institutions.

• Format: Hardcover
• Language: English
• ISBN: 1032145846
• ISBN13: 9781032145846
• Release Date: June 2023
• Publisher: Routledge
• Length: 240 Pages
• Weight: 1.19 lbs.
• Dimensions: 0.6" x 6.1" x 9.2"