Peso Acceptance Patterns in El Paso

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Peso Acceptance Patterns in El Paso

Author Info

Fullerton, Thomas M., Jr.
Molina, Angel L., Jr.
Pisani, Michael J.

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Thomas Fullerton

Abstract

This paper examines the acceptance of peso payments, or currency substitution reverse dollarization, by U.S retail firms near the international border with Mexico. Survey data are drawn from a stratified random sample of 586 retailers located in El Paso, Texas, situated across the border from Ciudad Juarez, Chihuahua, Mexico. Approximately 13 percent of the participant firms accept Mexican pesos in exchange for goods and services. Empirical results indicate that factors such as a firm’s percentage of Spanish speaking employees and distance to the nearest international bridge significantly influence the decision to accept or reject Mexican pesos.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 17900.

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Date of creation: 17 Apr 2009
Date of revision: 19 Jun 2009
Publication status: Published in Pennsylvania Geographer 1.47(2009): pp. 91-102
Handle: RePEc:pra:mprapa:17900

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Find related papers by JEL classification:
R11 - Urban, Rural, and Regional Economics - - General Regional Economics - - - Analysis of Growth, Development, and Changes
M21 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics - - - Business Economics

This paper has been announced in the following NEP Reports:

NEP-ALL-2009-10-31 (All new papers)
NEP-MON-2009-10-31 (Monetary Economics)

References listed on IDEAS
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Rogers, John H, 1992. "The Currency Substitution Hypothesis and Relative Money Demand in Mexico and Canada," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 24(3), pages 300-318, August. [Downloadable!] (restricted)
Other versions:
- Rogers, J.H., 1990. "The Currency Substitution Hypothesis And Relative Money Demand In Mexico And Canada," Papers 7-90-1, Pennsylvania State - Department of Economics.
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Other versions:
- Geoffrey Kingston & Martin Melecky, 2005. "Currency preferences and the Australian dollar," International Finance 0502006, EconWPA. [Downloadable!]
Darren Hudson & Lee-Hong Seah & Diane Hite & Tim Haab, 2004. "Telephone presurveys, self-selection, and non-response bias to mail and Internet surveys in economic research," Applied Economics Letters, Taylor and Francis Journals, vol. 11(4), pages 237-240, March. [Downloadable!] (restricted)
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Fullerton, T.M., 2007. "Empirical Evidence Regarding 9/11 Impacts on the Borderplex Economy," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 7(2), pages 51-64. [Downloadable!] (restricted)
Selcuk, Faruk, 2003. "Currency substitution: new evidence from emerging economies," Economics Letters, Elsevier, vol. 78(2), pages 219-224, February. [Downloadable!] (restricted)
Yoskowitz, David W. & Pisani, Michael J., 2007. "Risk and reward: Currency substitution and acceptance of the Mexican peso by firms in the United States southern frontier," The Quarterly Review of Economics and Finance, Elsevier, vol. 47(3), pages 422-434, July. [Downloadable!] (restricted)

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