The Dollarization Debate in Argentina and Latin America

Pablo E. Guidotti and Andrew Powell

in International Financial Markets

Published by University of Chicago Press

Published in print April 2003 | ISBN: 9780226032146
Published online February 2013 | e-ISBN: 9780226032153 | DOI:
The Dollarization Debate in Argentina and Latin America

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This chapter provides an account of the events that that prompted the Argentine government in the 1990s to consider a full dollarization of the economy subject to a monetary agreement with the United States. It suggests that the dollarization proposal was inspired by the potential elimination of currency risk and reinforced by the experience of the peripheral countries in Europe and the perceived convergence gains through the process leading up to European Monetary Union (EMU). This chapter also highlights Argentina's lack of political and social consensus to executive successful implementation of the dollarization project.

Keywords: dollarization; Argentina; monetary agreement; United States; currency risk; EMU; political consensus; social consensus

Chapter.  16859 words.  Illustrated.

Subjects: International Economics

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