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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 (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 29 September 2020

A Dollarization/Free‐Banking Blueprint for Argentina

A Dollarization/Free‐Banking Blueprint for Argentina

(p.387) 22 A Dollarization/Free‐Banking Blueprint for Argentina
The Dollarization Debate

Steve H. Hanke

Oxford University Press

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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