Areas of Expertise

International Economics and Finance, Money, and Banking

Academic Degrees

• Diplom, Freie Universitaet Berlin, 1989
• Diplom, Freie Universitaet Berlin, 1990
• PhD, Freie Universitat Berlin, 1995

Professional Experience

• Assistant Professor for Economics, Freie Universitaet Berlin, 1995-2001
• Instructor for Macroeconomics, Department for Economics, Freie Universitaet Berlin, 1990-1995

Awards, Honors & Certificates

• Nomination for the 2001-2002, 2003-2004, 2004-2005 Panschar undergraduate teaching award at Kelley School of Business
• Who's Who in Teaching in the U.S., 2005 nominee

Selected Publications

• Hauskrecht, A. (2009). The Dilemma of Financial Market Regulation. The European Voice, November 2.
• Hauskrecht, A., and Hai, N. T. (2005). Dollarization in VN. 12th Annual Conference on Pacific Basin Finance, Economics, Accounting, and Business. Bangkok, Thailand.

  Abstract

  Abstract

  The paper maps the dollarization process in Vietnam since the beginning 1990s. We analyze the pros and cons of complete currency substitution. We discuss different forms and degrees of dollarization, and why some countries dollarized and others not. Further, the paper analyzes the case of partial dollarization, its implied risks for financial sector stability and the underlying dynamics of dollarization. Finally, we describe ways to reverse dollarization. The main conclusions are that dollarization is not a viable exchange rate regime option for Vietnam; furthermore, the current status of a partly dollarized economy poses considerable risks for financial sector stability and makes the country prone to exogenous shocks. The recent dollarization of banks’ loan portfolio has considerably increased systemic risk. The foreseeable opening of the Vietnamese economy will significantly increase the risks related to dollarization.

Edited on August 25, 2022