The political economy of Bitcoin as legal tender in El Salvador: Temporary bandages to permanent wounds?

Tobias Boos and Juan Grigera

No wp-2023-136, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This paper provides a contextual analysis of the adoption of Bitcoin as legal tender in El Salvador. First, we outline the historical context and the political situation of the period 2019-24 that serve as context for the passage and implementation of the Bitcoin law (Decree No. 57). We identify the institutional and political context and the main areas of contention. Next, we delve into the macroeconomic context of El Salvador, outlining the fundamental features of its economy and highlighting how they relate to currency issues.

Keywords: El Salvador; Political economy; Finance (search for similar items in EconPapers)
Date: 2023
New Economics Papers: this item is included in nep-ban, nep-fdg and nep-pay
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Persistent link: https://EconPapers.repec.org/RePEc:unu:wpaper:wp-2023-136

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