Review of the Bank of Russia and NES Seminar ‘Financial Dollarisation: Causes and Consequences’

Abstract

At the end of February 2021, the Bank of Russia and NES held an online international academic seminar ‘Financial Dollarisation: Causes and Consequences’. The seminar addressed a number of aspects of dollarisation, such as the non-linear nature of the relationship between the dynamics of the exchange rate and the demand for foreign currency assets, the existence of the hysteresis effect and efficient distribution of risks associated with the loan dollarisation. In this overview, we will provide a summary of the reports presented at the seminar.