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Dollarization and Macroeconomic Stability in Latin America.

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dc.contributor.author Castillo, Sofia
dc.contributor.other Johnson, Marianne
dc.date.accessioned 2006-06-30T16:33:59Z
dc.date.available 2006-06-30T16:33:59Z
dc.date.issued 2006-05
dc.identifier.citation Oshkosh Scholar, Volume 1, 2006 en
dc.identifier.uri http://digital.library.wisc.edu/1793/6679
dc.description.abstract This paper examines if dollarization has had a positive impact on the macroeconomic stability of Latin American countries. Dollarization refers to either the official or unofficial replacement of local currencies with the U.S. dollar. Currently four Latin American countries are officially dollarized and the rest experience varying levels of unofficial dollarization. Data from the World Bank World Development Indicators for 21 Latin American countries from 1960 to 2003 are analyzed. To test the claim that dollarization improves macroeconomic stability, we construct a new measure of dollarization. Statistical analysis shows that increased dollarization is positively associated with economic growth. Dollarization has a strong impact on inflation. Data suggests that dollarization significantly reduces inflation. This research has serious implications for the Free Trade of the Americas Association (FTAA) and suggests economic and development gains would come with a single currency union for the Western Hemisphere. en
dc.description.provenance Submitted by Debra Duncan (duncan@uwosh.edu) on 2006-06-30T16:33:48Z No. of bitstreams: 1 Dollarization and.pdf: 1123170 bytes, checksum: 6e0162255f23f70db729ca2f294cf10d (MD5) en
dc.description.provenance Approved for entry into archive by Debra Duncan(duncan@uwosh.edu) on 2006-06-30T16:33:59Z (GMT) No. of bitstreams: 1 Dollarization and.pdf: 1123170 bytes, checksum: 6e0162255f23f70db729ca2f294cf10d (MD5) en
dc.description.provenance Made available in DSpace on 2006-06-30T16:33:59Z (GMT). No. of bitstreams: 1 Dollarization and.pdf: 1123170 bytes, checksum: 6e0162255f23f70db729ca2f294cf10d (MD5) Previous issue date: 2006-05 en
dc.format.extent 1123170 bytes
dc.format.mimetype application/pdf
dc.language.iso en_US en
dc.publisher University of Wisconsin Oshkosh en
dc.subject Money. en
dc.subject Dollar, American. en
dc.subject Currency question. en
dc.subject Monetary policy -- Latin America. en
dc.title Dollarization and Macroeconomic Stability in Latin America. en
dc.type Article en

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