This paper reviews the dollarization and currency substitution literature with special regard to its implications for Ghana. It assesses the significance of dollarization in Ghana relative to the experience of other countries and with regard to evidence of increased use of foreign currency in Ghana. As a result of relaxation of foreign exchange regulations and increased inflation, the move to foreign currency is not entirely unexpected.
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Paper provided by Bell Communications - Economic Research Group in its series Papers with number
19.
Find related papers by JEL classification: F30 - International Economics - - International Finance - - - General F31 - International Economics - - International Finance - - - Foreign Exchange O55 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Africa