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Argentine Convertibility

Is It a Relevant Precedent for the Dollarization Process in Ecuador?

  • Author: UN, ECLAC
  • Publication date: August 2001
  • Page count: 44
  • Language(s) in this book: English
  • Sales number: 01.II.G.104

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About the product

Latin America has had a great deal of experience with anti-inflationary policies based on different types of exchange-rate 'anchors'. However, the Argentine convertibility as well as dollarization in Ecuador go further in this direction, adopting a very strict monetary rule in the first case and giving up the emission of its own currency in the second. This publication identifies the effects that the convertibility system has had on the Argentine economy and on the functioning of the banking system. It also evaluates the extent to which the Argentine experience is relevant to the Ecuadorian dollarization process.