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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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Myths and Realities

5 Dollarization
The Dollarization Debate

Sebastian Edwards

Oxford University Press

This chapter examines the economic performance of dollarized countries. It argues that dollarized nations have slower growth, similar fiscal record, have not been spared from major current account reversals, and have significantly lower inflation. The case of Panama demonstrates that external shocks result in greater costs, in terms of lower investment and growth, in dollarized than nondollarized countries.

Keywords:   dollarized nations, economic performance, growth, inflation, current account reversals

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