Sebastian Edwards

in The Dollarization Debate

Published in print May 2003 | ISBN: 9780195155358
Published online November 2003 | e-ISBN: 9780199832989 | DOI:

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This chapter examines the economic performance of dollarized countries. It argues that dollarized nations have slower growth, similar fiscal record, have not been spared from major current account reversals, and have significantly lower inflation. The case of Panama demonstrates that external shocks result in greater costs, in terms of lower investment and growth, in dollarized than nondollarized countries.

Keywords: dollarized nations; economic performance; growth; inflation; current account reversals

Chapter.  7050 words.  Illustrated.

Subjects: International Economics

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