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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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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 15 October 2019

What Use Is Monetary Sovereignty?

What Use Is Monetary Sovereignty?

Chapter:
7 What Use Is Monetary Sovereignty?
Source:
The Dollarization Debate
Author(s):

Kurt Schuler

Publisher:
Oxford University Press
DOI:10.1093/0195155351.003.0008

This chapter discusses the meaning, purpose, scope, and expected benefits of monetary sovereignty. Monetary sovereignty has become the focus of recent debates on dollarization, currency boards, and monetary unions. Concerns have been raised that replacing a national central bank with any of these monetary systems would reduce national monetary sovereignty, and by association, political sovereignty. It is argued that monetary sovereignty has been harmful for most developing countries because the rhetoric of sovereignty fails to distinguish between political, consumer and monetary sovereignty.

Keywords:   monetary sovereignty, dollarization, developing countries, political sovereignty, consumer

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