title: Estimating a Natural Level of Financial Dollarization in Ukraine
abstract: This article overviews the background for financial dollarization in Ukraine. We apply quantitative techniques including both minimum variance portfolio and peer comparison taking into consideration country-specific characteristics to derive an estimated natural dollarization level for Ukraine. The study also discusses potential ways for Ukraine to converge to its natural level, which we estimate at 20%. Additional factors indicate dollarization in the range of 20-30% as realistic medium-term po
journal: Visnyk of the National Bank of Ukraine