Full Dollarization: The Pros and Cons

Author: Mr. Eduardo Borensztein and Mr. Andrew Berg

Analyzes the costs and benefits of full dollarization, or the adoption by one country of another country's currency. Potential advantages include lower borrowing costs and deeper integration into world markets. But countries lose the ability to devalue, and become dependent on the U.S. Compares with currency board option.

Volume/Issue: Volume 2000 Issue 004

Publication date: December 2000

ISBN: 9781557759931

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Topics covered in this book

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Business and Economics , Banks and Banking , Money and Monetary Policy , EI , currency , dollar , devaluation , unit of account , foreign currency , exchange arrangement , currency risk , money base , Currencies , Dollarization , Currency boards , Exchange rates , Global

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Summary

Analyzes the costs and benefits of full dollarization, or the adoption by one country of another country’s currency. Potential advantages include lower borrowing costs and deeper integration into world markets. But countries lose the ability to devalue, and become dependent on the U.S. Compares with currency board option.