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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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What Exchange Rate Arrangement Works Best for Latin America?

What Exchange Rate Arrangement Works Best for Latin America?

(p.375) 21 What Exchange Rate Arrangement Works Best for Latin America?
The Dollarization Debate

Liliana Rojas‐Suarez

Oxford University Press

This chapter looks into the implementation of dollarization and flexible exchange rate regimes in Latin America. The current features of Latin American countries do no warrant the immediate implementation of a single currency. The severe constraints facing Latin American countries warrant the use of increased flexibility in exchange rates to deal with trade and financial shocks. Exchange rate flexibility should be complemented by the appropriate provision of liquidity and effective use of monetary instruments.

Keywords:   Latin America, dollarization, flexible exchange rates

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