Chancen und Risiken einer Dollarisierung in Argentinien

Chancen und Risiken einer Dollarisierung in Argentinien Abstract The collapse of the Argentinean Currency Board revived the debate about the optimal exchange rate regime for Argentina. Given its large exposure to nervous international investors, Argentina is a strong candidate for dollarization, which could provide lower inflation and higher financial integration with the United States. However, Argentina’s poor qualifications for a fixed exchange rate under the traditional optimum currency area criteria and the absence of adequate labor market and fiscal policy structures indicate that dollarization would suffer from the same problems as the Currency Board system. Thus, dollarization, in advance of other fundamental reforms seems a risky strategy. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Zeitschrift für Wirtschaftspolitik de Gruyter

Chancen und Risiken einer Dollarisierung in Argentinien

Zeitschrift für Wirtschaftspolitik, Volume 52 (1) – Apr 1, 2003

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Publisher
de Gruyter
Copyright
Copyright © 2003 by the
ISSN
0721-3808
eISSN
2366-0317
DOI
10.1515/zfwp-2003-0105
Publisher site
See Article on Publisher Site

Abstract

Abstract The collapse of the Argentinean Currency Board revived the debate about the optimal exchange rate regime for Argentina. Given its large exposure to nervous international investors, Argentina is a strong candidate for dollarization, which could provide lower inflation and higher financial integration with the United States. However, Argentina’s poor qualifications for a fixed exchange rate under the traditional optimum currency area criteria and the absence of adequate labor market and fiscal policy structures indicate that dollarization would suffer from the same problems as the Currency Board system. Thus, dollarization, in advance of other fundamental reforms seems a risky strategy.

Journal

Zeitschrift für Wirtschaftspolitikde Gruyter

Published: Apr 1, 2003

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