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Nature et spécificité de la dollarisation de l'économie congolaise (RDC)

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  • Kola Lendele
  • Joseph Kamanda kimona-mbinga
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    Abstract

    Dollarization is a process experienced by some countries whereby the high level of inflation rates prompt the resident to use a foreign stable currency. Dollarization is widespread among developing countries that are subject to hyperinflation. In these countries, the weakened national currency loses at least one of its traditional three functions. Full dollarization is a specific case observed in some countries where the governments decide to replace the local currency by the US dollar. However, in most cases, dollarization is incomplete as the local currency is used along with the foreign currencies. The Democratic Republic of the Congo (D.R.C) is among the last cases. The Congo experienced several episodes of hyperinflation in the 1990s. The paper develops an analysis on the nature and the specificity of dollarization in the Congo.

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    Bibliographic Info

    Article provided by De Boeck Université in its journal Mondes en développement.

    Volume (Year): 130 (2005)
    Issue (Month): 2 ()
    Pages: 41-62

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    Handle: RePEc:cai:meddbu:med_130_0041

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    Web page: http://www.cairn.info/revue-mondes-en-developpement.htm

    Related research

    Keywords: Dollarization; "Dedollarization process"; Congo (Democratic Republic of); Exchange Rates; Inflation Rates; Hyperinflation; Overshooting; Parallel Market;

    References

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    1. Bas Van Aarle & Nina Budina, 1996. "Currency substitution and seignorage in eastern europe," Journal of Policy Reform, Taylor and Francis Journals, vol. 1(3), pages 279-298.
    2. Joannes Mongardini & Johannes Mueller, 1999. "Rachet Effects in Currency Substitution - An Application to the Kyrgyz Republic," IMF Working Papers 99/102, International Monetary Fund.
    3. Girton, Lance & Roper, Don E, 1981. "Theory and Implications of Currency Substitution," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 13(1), pages 12-30, February.
    4. Pablo E. Guidotti & Carlos A. Rodriguez, 1992. "Dollarization in Latin America: Gresham's Law in Reverse?," IMF Staff Papers, Palgrave Macmillan, vol. 39(3), pages 518-544, September.
    5. Marco Terrones & Luis Catão, 2000. "Determinants of Dollarization - The Banking Side," IMF Working Papers 00/146, International Monetary Fund.
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