Chapter

What Use Is Monetary Sovereignty?

Kurt Schuler

in The Dollarization Debate

Published in print May 2003 | ISBN: 9780195155358
Published online November 2003 | e-ISBN: 9780199832989 | DOI: http://dx.doi.org/10.1093/0195155351.003.0008
What Use Is Monetary Sovereignty?

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This chapter discusses the meaning, purpose, scope, and expected benefits of monetary sovereignty. Monetary sovereignty has become the focus of recent debates on dollarization, currency boards, and monetary unions. Concerns have been raised that replacing a national central bank with any of these monetary systems would reduce national monetary sovereignty, and by association, political sovereignty. It is argued that monetary sovereignty has been harmful for most developing countries because the rhetoric of sovereignty fails to distinguish between political, consumer and monetary sovereignty.

Keywords: monetary sovereignty; dollarization; developing countries; political sovereignty; consumer

Chapter.  6208 words. 

Subjects: International Economics

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