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The Dollarization Debate Summary

The Dollarization Debate by Dominick Salvatore (Chair of Economics, Chair of Economics, Fordham University, USA)

This book takes a global approach, with an emphasis on North and Latin America respectfully, by discussing one of today's most controversial topics in business; Dollarization. With the collapse of the former Soviet Union, and the formation of the Euro in Europe, many countries and debating whether or not a common currency is in their best interest. This intriguing volume brings together the leading participants in the current dollarization debates. Many advocate the notion of a common currency, while others feel that in doing so will create financial costs for all that take part, with the severity varying from country to country.

The Dollarization Debate Reviews

The strength of the book is that it brings together most of the major protagonists from the Americas in debates over dollarization and related matters. There is a refreshing variety of views, with no attempt by the editors to impose a party line. * Review of World Economics *
The book is a timely contribution to an important ongoing but unsettled debate. * Review of World Economics *
The book is well-produced by Oxford University Press, with a usable index. On the whole, the collection is a good read with a strong assembly of authors from academia, think tanks, central banks and the private sector. For anybody unfamiliar with the current debates, it is a good introduction to the issues surrounding dollarization in the western hemisphere. * Review of World Economics *

Table of Contents

Contributors Dominick Salvatore, James W. Dean, and Thomas D. Willett: Introduction Part I. General Analysis A Visionary's View 1: Robert Mundell: Currency Areas, Exchange Rate Systems, and International Monetary Reform De Facto Dollarization 2: Edgar L. Feige, Michael Faulend, Velimir &Sonje, and Vedran &So&si'c: Unofficial Dollarization in Latin America: Currency Substitution, Network Externalities, and Irreversibility Pros and Cons 3: Andrew Berg and Eduardo R. Borensztein: The Pros and Cons of Full Dollarization 4: Vittorio Corbo: Is It Time for a Common Currency for the Americas? 5: Sebastian Edwards: Dollarization: Myths and Realities 6: Barry Eichengreen: What Problems Can Dollarization Solve? 7: Kurt Schuler: What Use Is Monetary Sovereignty? One Regime for All Countries? 8: Thomas D. Willett: The OCA Approach to Exchange Rate Regimes: A Perspective on Recent Developments 9: John Williamson: Dollarization Does Not Make Sense Everywhere 10: Ronald I. McKinnon: The Problem of Dollar Encroachment in Emerging Markets 11: Dominick Salvatore: Which Countries in the Americas Should Dollarize? 12: George M. von Furstenberg: Pressures for Currency Consolidation in Insurance and Finance: Are the Currencies of Financially Small Countries on the Endangered List? Part II. Political Economy 13: Benjamin J. Cohen: Monetary Union: The Political Dimension 14: Jurgen Schuldt: Latin American Official Dollarization: Political Economy Aspects 15: Nancy Neiman Auerbak and Aldo Flores-Quiroga: The Political Economy of Dollarization in Mexico 16: Harris Dellas and George S. Tavlas: Lessons of the Euro for Dollarization: Analytic and Political Economy Perspectives Part III. North America 17: Thomas J. Courchene and Richard G. Harris: North American Currency Integration: A Canadian Perspective 18: Herbert G. Grubel: The Merit of a North American Monetary Union 19: John D. Murray: Why Canada Needs a Flexible Exchange Rate Part IV. Latin America 20: James W. Dean: Should Latin America's Common-Law Marriage to the U.S. Dollar Be Legalized? Should Canada's? 21: Liliana Rojas-Suarez: What Exchange Rate Arrangement Works Best for Latin America? 22: Steven H. Hanke: A Dollarization/Free-Banking Blueprint for Argentina 23: Jose Maria Fanelli: Argentina's Currency Board and the Case for Macroeconomic Policy Coordination in Mercosur 24: Archibald R. M. Ritter and Nicholas P. Rowe: Cuba: "Dollarization" and "Dedollarization" Index

Additional information

NPB9780195155358
9780195155358
0195155351
The Dollarization Debate by Dominick Salvatore (Chair of Economics, Chair of Economics, Fordham University, USA)
New
Hardback
Oxford University Press Inc
2003-05-15
490
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
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