TY  - BOOK
AU  - Masson,Paul R.
AU  - Masson,Paul R.
TI  - The Growing Role of the Euro in Emerging Market Finance
PY  - 2007///
CY  - Washington, D.C.
PB  - The World Bank
KW  - Currencies and Exchange Rates
KW  - Debt
KW  - Debt Issuance
KW  - Debt Markets
KW  - Developing Countries
KW  - Emerging Market
KW  - Emerging Markets
KW  - Finance and Financial Sector Development
KW  - Fiscal and Monetary Policy
KW  - Foreign Exchange
KW  - Foreign Exchange Reserve
KW  - Holdings
KW  - Home Currency
KW  - International Finance
KW  - Macroeconomics and Economic Growth
KW  - Market Finance
KW  - Private Sector Development
KW  - Public Sector Development
N2  - More than eight years after the introduction of the euro, impacts on developing countries have been relatively modest. Overall, the euro has become much more important in debt issuance than in official foreign exchange reserve holdings. The former has benefited from the creation of a large set of investors for which the euro is the home currency, while demand for euro reserves has been held back by the dominance of the dollar as a vehicle and intervention currency, and the greater liquidity of the market for US treasury securities. Fears of further dollar decline may fuel some shifts out of dollars into euros, however, with the potential for a period of financial instability
UR  - http://elibrary.worldbank.org/doi/book/10.1596/1813-9450-4381
ER  -