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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;

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    1. Marco Terrones & Luis Catão, 2000. "Determinants of Dollarization," IMF Working Papers 00/146, International Monetary Fund.
    2. 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.
    3. Bas Van Aarle & Nina Budina, 1996. "Currency substitution and seignorage in eastern europe," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 1(3), pages 279-298.
    4. 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.
    5. Melvin, Michael & de la Parra, Gonzalo Afcha, 1989. "Dollar currency in Latin America : A Bolivian application," Economics Letters, Elsevier, vol. 31(4), pages 393-397, December.
    6. Joannes Mongardini & Johannes Mueller, 2000. "Ratchet Effects in Currency Substitution: An Application to the Kyrgyz Republic," IMF Staff Papers, Palgrave Macmillan, vol. 47(2), pages 3.
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