Économie politique de la dollarisation

This article analyzes dollarization from the perspective of political economy. It draws up a typology of dollarization regimes based on the institutionalist approach to money, before studying the drivers of the loss of legitimacy of domestic account unity and the erosion of monetary sovereignty. The analysis of official and internal dollarization in Ecuador shows that it has consolidated expectations through a monetary compromise. But dollarization has also complicated the implementation of an ambitious alternative development strategy to the Washington Consensus, thus preventing the country's exit from a growth regime led by exports and extractivism.