Is It Time for a Common Currency for the Americas?

Vittorio Corbo

in The Dollarization Debate

Published in print May 2003 | ISBN: 9780195155358
Published online November 2003 | e-ISBN: 9780199832989 | DOI:
Is It Time for a Common Currency for the Americas?

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This chapter examines the costs and benefits of full dollarization in Latin America. Dollarization may benefit countries with poor records on financial stability, and whose bulk of trade in goods and capital flows occur with the United States. However, for open economies with a decent record of financial stability and large tradable sectors, dollarization would be a major obstacle to the adjustment process.

Keywords: dollarization; common currency; Latin America

Chapter.  3877 words. 

Subjects: International Economics

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