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The Dollarization Debate$
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Dominick Salvatore, James W. Dean, and Thomas D. Willett

Print publication date: 2003

Print ISBN-13: 9780195155358

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0195155351.001.0001

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A Dollarization/Free‐Banking Blueprint for Argentina

A Dollarization/Free‐Banking Blueprint for Argentina

Chapter:
(p.387) 22 A Dollarization/Free‐Banking Blueprint for Argentina
Source:
The Dollarization Debate
Author(s):

Steve H. Hanke

Publisher:
Oxford University Press
DOI:10.1093/0195155351.003.0023

This chapter analyses the impact of official dollarization on Argentina’s economy. It argues that replacing the peso issued by the central bank with dollar-denominated notes issued by offshore commercial banks would eliminate the perceived risk of peso depreciation, increase the supply of bank reserves, reduce banks’ demand for reserves, and encourage deposits into the banking system. This would lead to lower interest rates, and boost Argentina’s economy.

Keywords:   Argentina, dollarization, peso, currency, monetary policy

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