The dollarization of emergent economies

La dollarisation des économies émergentes

Jean-François Ponsot
Additional contact information
Jean-François Ponsot: LATEC - Laboratoire d'Analyse et de Techniques Economiques [UMR 5118] - UB - Université de Bourgogne - CNRS - Centre National de la Recherche Scientifique

Working Papers from HAL

Abstract: Current discussions about dollarization/euroization are built on substitution models and cost/benefits analysis. This working paper aims to go beyond these explanations based on a functionalist definition of money. An institutionalist definition of money advocates analyzing de facto dollarization more broadly as a legitimacy crisis of the unit of account that damages monetary sovereignty and of whom authorities try to check in a kind o f institutional resistance. A macroeconomic definition of money involves questionning full and de jure dollarization consistency with both of principles guiding the monetary economy of production: (1) endogeneity of money; (2) merger between monetary space and production space. Implications that follow both for dollarized economies and foreign currency issuers encourages the restriction of dollarization arrangements to a limited number of specific cases.

Keywords: economic theory; endogeneity of money; euroization; management economics; monetary; monetary space; economics; gestion; économie; management; dollarisation; euroisatin; souveraineté monétaire; endogénéité de la monnaie; espaces monétaires (search for similar items in EconPapers)
Date: 2002
Note: View the original document on HAL open archive server: https://hal.science/hal-01526893v1
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in [Rapport de recherche] Laboratoire d'analyse et de techniques économiques(LATEC). 2002, 27 p., Table, ref. bib. : 39 ref

Downloads: (external link)
https://hal.science/hal-01526893v1/document (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:wpaper:hal-01526893

Access Statistics for this paper

More papers in Working Papers from HAL
Bibliographic data for series maintained by CCSD ().