A Dollarization/Free Banking Blueprint for Argentina

The Dollarization Debate. Dominick Salvatore, James W. Dean and Thomas D. Willett, eds., Oxford University Press, 2003

15 Pages Posted: 22 Jan 2013

See all articles by Steve H. Hanke

Steve H. Hanke

Johns Hopkins University - Department of Economics

Date Written: 2003

Abstract

To put an end to monetary mischief and rein in hyperinflation, Argentina established an unorthodox currency board system on April 1, 1991. Argentines called the system "convertibility," an uncommon term for an unusual system. Like all currency board arrangements, convertibility maintained a fixed exchange rate on the spot market between the peso and its anchor currency, the U.S. dollar. That nominal anchor checked inflation: the consumer price index at the end of 2001 was about where it was in 1994.

Keywords: Steve Hanke, Dollarization, Salvatore Dean Willett, Oxford, Argentina, Currency Board

Suggested Citation

Hanke, Steve H., A Dollarization/Free Banking Blueprint for Argentina (2003). The Dollarization Debate. Dominick Salvatore, James W. Dean and Thomas D. Willett, eds., Oxford University Press, 2003. Available at SSRN: https://ssrn.com/abstract=2204699

Steve H. Hanke (Contact Author)

Johns Hopkins University - Department of Economics ( email )

3400 Charles Street
Baltimore, MD 21218-2685
United States
410-516-7183 (Phone)
410-516-8996 (Fax)

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