Euroization, Dollarization, and the International Monetary System

Dominick Salvatore

in Monetary Unions and Hard Pegs

Published in print March 2004 | ISBN: 9780199271405
Published online August 2004 | e-ISBN: 9780191601200 | DOI:
 Euroization, Dollarization, and the International Monetary System

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A great debate has been taking place in many nations, especially small ones, in Central, Eastern, and Southern Europe, in the Baltic States, and in the Americas on the need and benefits of abandoning the national currency in favor of the euro or the dollar. This chapter examines the benefits and costs of euroization or dollarization. It analyzes the ways in which the two processes are similar and different, and it examines their likely effect on the functioning of the present and future international monetary system.

Keywords: dollarization; euroization; exchange rate systems; international financial arrangements; international monetary system

Chapter.  6264 words. 

Subjects: Economic Systems

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