Early in 2000, Ecuador, confronted with a serious economic and governance crises, adopted the U.S. dollar as its national currency. The economic situation was dire with high inflation, government intervention in the banking system including freezing of deposits to prevent further flight from the country, and large fiscal deficits. Politically, then President Mahaud was being challenged by a congressional lack of support for measures to stabilize the economic situation, a radicalized indigenous movement, and a restive armed forces. In this environment, and as a policy of last resort, the government decided to adopt the U.S. dollar as its currency. This book thoroughly examines the conditions in which this decision was made. It looks historically at Ecuador's economic and social structure and assesses the impact felt as a result of the decision.
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On January 9, 2000, Ecuador decided to adopt the U.S. dollar as its national currency, its domestic medium of exchange, and its unit of account, thus becoming the first country to officially dollarize its economy in the 21st century. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
predollarization crisis, bono solidario, dollarization legislation, partial dollarization, official dollarization, consumption quintile, full dollarization, expenditure quintiles, expenditure protection, broad money supply, oil earnings, nonfactor services, targeting errors, household capital, withdrawal demand Key Phrases - Capitalized Phrases (CAPs): (learn more)
World Bank, Latin America, International Monetary Fund, Beca Escolar, United States, Durán Ballén Government, Banco Central del Ecuador, Deposit Insurance Agency, Economic Transformation Law, Health Ministry, Ministry of Social Welfare, Cisne Dos, Cuenca Averages, Institute of Social Studies, President Mahuad, República Bolivariana de Venezuela, Seguro Campesino, The Hague, Urban Employment Survey, World Development, Bucaram Government, Buenos Aires, Costa Rica, Hong Kong, Inter-American Development Bank New!
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Front Cover | Table of Contents | First Pages | Back Cover | Surprise Me!
On January 9, 2000, Ecuador decided to adopt the U.S. dollar as its national currency, its domestic medium of exchange, and its unit of account, thus becoming the first country to officially dollarize its economy in the 21st century. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
predollarization crisis, bono solidario, dollarization legislation, partial dollarization, official dollarization, consumption quintile, full dollarization, expenditure quintiles, expenditure protection, broad money supply, oil earnings, nonfactor services, targeting errors, household capital, withdrawal demand Key Phrases - Capitalized Phrases (CAPs): (learn more)
World Bank, Latin America, International Monetary Fund, Beca Escolar, United States, Durán Ballén Government, Banco Central del Ecuador, Deposit Insurance Agency, Economic Transformation Law, Health Ministry, Ministry of Social Welfare, Cisne Dos, Cuenca Averages, Institute of Social Studies, President Mahuad, República Bolivariana de Venezuela, Seguro Campesino, The Hague, Urban Employment Survey, World Development, Bucaram Government, Buenos Aires, Costa Rica, Hong Kong, Inter-American Development Bank New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Back Cover | Surprise Me!
Citations (learn more)
This book cites 11
books:
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- Costa Rica (Enchantment of the World, Second) by Marion Morrison on page 189
- Women and Adjustment Policies in the Third World (Women's Studies at York Series) by Afshar on page 214
- Gender Dimensions of Alcohol Consumption and Alcohol-Related Problems in Latin America and the Caribbean (World Bank Discussion Papers) by Hnin Hnin Pyne on page 214
- Rural Women and State Policy: Feminist Perspectives on Latin American Agricultural Development (Series in Political Economy and Economic Development) by Carmen Diana Deere on page 214
- Buenos Aires (Great Cities of the World) by Marion Morrison on page 211
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