Dollarization in Latin America: wave of the future or flight to the past?

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Publication Type Journal Article
School or College College of Social & Behavioral Science
Department Economics
Creator Jameson, Kenneth P.
Title Dollarization in Latin America: wave of the future or flight to the past?
Date 2003
Description Ecuador undertook official dollarization in 2000 when it destroyed its own currency, the sucre, and adopted the dollar. El Salvador converted all financial instruments to dollars, and Guatemala now allows transactions to be carried out in any currency. Both assumed that the dollar would soon displace their domestic currencies. This experience suggests that dollarization may become progressively easier for other countries. Indeed, there are numerous predictions of a completely dollarized Western Hemisphere (Schuldt 2003; Trejos 1999). Will other countries in the Western Hemisphere implement official dollarization this decade? Could Latin America become an official dollar bloc, with the dollar as the common currency? Alternatively, will dollarization be a momentary phenomenon, whose promise is tarnished by the economic performance of countries that have chosen hard pegs?
Type Text
Publisher Association for Evolutionary Economics
Volume 37
Issue 3
First Page 643
Last Page 665
Subject Domestic currencies; Latin America; Dollarization
Subject LCSH Monetary policy
Language eng
Bibliographic Citation Jameson, K. P. (2003). Dollarization in latin America: wave of the future or flight to the Past?. Journal of Economic Issues, 37(3), 643-65.
Rights Management (c)Association for Evolutionary Economics. Reprinted from the Journal of Economic Issues by special permission of the copyright holder, the Association for Evolutionary Economics
Format Medium application/pdf
Identifier ir-main,1187
Conversion Specifications 162,925 Bytes
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Date Created 2012-06-13
Date Modified 2021-05-06
ID 705184
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