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    Testimony On Full Dollarization

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    No. of downloads: 849

    Date
    1999-04-22
    Author
    Calvo, Guillermo A.
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    Abstract
    I will discuss the motivation and potential benefits of full dollarization, namely, abandoning domestic currency (identified with the peso) and adopting a foreign currency (identified with the U.S. dollar), with special reference to emerging-market economies. I will argue, first, that full dollarization is especially advantageous for countries with large dollar debts, and, second, that in these economies standard criticisms against full dollarization are largely unwarranted.
    Notes
    Presented Before a Joint Hearing of the Subcommittees on Economic Policy and International Trade and Finance Washington, DC, April 22, 1999.
    URI
    http://hdl.handle.net/1903/4033
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