Chapter

Latin American Official Dollarization

Jürgen Schuldt

in The Dollarization Debate

Published in print May 2003 | ISBN: 9780195155358
Published online November 2003 | e-ISBN: 9780199832989 | DOI: http://dx.doi.org/10.1093/0195155351.003.0015
Latin American Official Dollarization

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Most of the economies of the Latin American subcontinent are expected to dollarize officially before 2010. When this occurs, two or more similar monetary blocs will emerge, configured like the so-called wild gees flock paradigm foreseen by Kaname Akamatsu (1962) for the productive sphere. Ordered groups of countries will form that will adhere to the dollar, euro, or yen. The countries that decide to fly alone, without the guidance of “geese-leaders” will be left aside by the dynamics of the new international division of labour.

Keywords: Latin America; dollarization; monetary union; currency

Chapter.  12641 words. 

Subjects: International Economics

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