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Title
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Economic growth in Ecuador provided by dollarization.
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Creator
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Salcedo-Saltos, Rosanna L., Harriet L. Wilkes Honors College
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Abstract/Description
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In an attempt to reduce runaway inflation, the Ecuadorian government froze citizens' checking and savings accounts for a year in March 1999. Nevertheless, Ecuador still experienced hyperinflation later that year. On January 9, 2000, Ecuador established dollarization as a desperate attempt to restore confidence in the economy. In order to test for dollarization's impact on economic growth, I employ an econometrics model with total factor productivity as the dependent variable. I then use...
Show moreIn an attempt to reduce runaway inflation, the Ecuadorian government froze citizens' checking and savings accounts for a year in March 1999. Nevertheless, Ecuador still experienced hyperinflation later that year. On January 9, 2000, Ecuador established dollarization as a desperate attempt to restore confidence in the economy. In order to test for dollarization's impact on economic growth, I employ an econometrics model with total factor productivity as the dependent variable. I then use dollarization as the independent variable of interest, and other control variables such as oil, and trade. The results reported in this paper suggest that dollarization has a significant positive impact on Ecuador's economic growth.
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Date Issued
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2010
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PURL
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http://purl.flvc.org/FAU/3335454
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Subject Headings
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Monetary policy, Currency question, Dollar, American, Economic conditions, Economic conditions
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Format
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Document (PDF)
