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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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Latin American Official Dollarization

Latin American Official Dollarization

Political Economy Aspects

Chapter:
(p.238) 14 Latin American Official Dollarization
Source:
The Dollarization Debate
Author(s):

Jürgen Schuldt

Publisher:
Oxford University Press
DOI:10.1093/0195155351.003.0015

Most of the economies of the Latin American subcontinent are expected to dollarize officially before 2010. When this occurs, two or more similar monetary blocs will emerge, configured like the so-called wild gees flock paradigm foreseen by Kaname Akamatsu (1962) for the productive sphere. Ordered groups of countries will form that will adhere to the dollar, euro, or yen. The countries that decide to fly alone, without the guidance of “geese-leaders” will be left aside by the dynamics of the new international division of labour.

Keywords:   Latin America, dollarization, monetary union, currency

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