The political economy of dollarization and its discontents

Sergio Rossi

Chapter 1 in Central Banking, Monetary Policy and the Political Economy of Dollarization, 2025, pp 6-17 from Edward Elgar Publishing

Abstract: Dollarization is a phenomenon that has different forms, all of which are meant to solve a number of problems affecting a variety of countries across the world. In this chapter, a typology of dollarization is presented in order to expand on its alleged merits and actual shortcomings. The first section explains what dollarization is and presents its different forms, discussing also the origins as well as the objectives of dollarization in a variety of countries. The second section points out the major drawbacks and shortcomings of dollarization from a political-economy standpoint. The third section then puts forward a monetary–structural reform for dollarized countries inspired by the Keynes Plan. The last section concludes by summarizing the flaws of dollarization and its major critiques.

Keywords: Dollarization; Keynes Plan; Monetary integration; Political economy; Monetary policy; Central banking (search for similar items in EconPapers)
Date: 2025
ISBN: 9781803925325
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