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    On Dollarization

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    ciecpn5.pdf (52.45Kb)
    No. of downloads: 3403

    Date
    1999-04-20
    Author
    Calvo, Guillermo A.
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    Abstract
    Recent worldwide turmoil in financial markets is triggering a major revision of the conventional wisdom about Emerging Market countries’ (EMs) macroeconomic management. As a result, the debate is wide open as to the set of policies and institutional arrangements that would ensure EMs’ macroeconomic stability. Opinions range from those favoring further pursuing market-friendly reforms to controls on capital mobility and even trade, and from dollarization to floating exchange rates. The debate on the appropriate exchange rate system, in particular, has taken center-stage.
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    http://hdl.handle.net/1903/4296
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