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Article: Foreign Policy Magazine Debates Dollarization.
- Article from:
- Business Wire
- Article date:
- August 31, 1999
CopyrightCOPYRIGHT 1999 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON--(BUSINESS WIRE)--Aug. 31, 1999--
U.S. Newswire--Should countries abandon their own currencies and instead adopt the U.S. dollar?
In the Fall 1999 issue of FOREIGN POLICY magazine, three leading economists debate the merits of dollarization. Harvard University's Jeffrey Sachs and Felipe Larrain denounce dollarization as reckless. Ricardo Hausmann, chief economist at the Inter-American Development Bank, maintains that not only is dollarization desirable, but in the next few years it will prove to be unavoidable.
"Unfortunately, until now, this debate has been carried out almost exclusively by economists, even though it has huge ...