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Dollarization in Latin America: Much Ado About Nothing

Author

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  • David Khoudour-Castéras

Abstract

The 2000-2001 period saw Ecuador and El Salvador adopt the dollar as their national currency. The decision was to trigger much criticism, undermining the enthusiasm of a number of developing countries prepared to relinquish a degree of independence in return for more stability and credibility. But what does the Latin American experience tell us about dollarization? Does the use of another country's currency go hand in hand with additional costs in terms of economic performance? And do these costs outweigh the benefits resulting from greater stability?

Suggested Citation

  • David Khoudour-Castéras, 2009. "Dollarization in Latin America: Much Ado About Nothing," La Lettre du CEPII, CEPII research center, issue 295.
    • Handle: RePEc:cii:cepill:2009-295
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    File URL: http://www.cepii.fr/PDF_PUB/lettre/2009/let295ang.pdf
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    More about this item

    Keywords

    LATIN AMERICA; DOLLAR; CRISIS;
    All these keywords.

    JEL classification:

    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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