Catalogue


Crisis and dollarization in Ecuador [electronic resource] : stability, growth, and social equity /
Paul Beckerman and Andrés Solimano, editors.
imprint
Washington, D.C. : World Bank, c2002.
description
xii, 215 p. : ill. ; 23 cm.
ISBN
082134837X (pbk.)
format(s)
Book
More Details
imprint
Washington, D.C. : World Bank, c2002.
isbn
082134837X (pbk.)
restrictions
Licensed for access by U. of T. users.
catalogue key
9823732
 
Includes bibliographical references.
A Look Inside
Full Text Reviews
Appeared in Choice on 2003-02-01:
The number of countries, especially in Latin America, that have shifted to an economy based on the US dollar has grown over the last decade. These economies have lost control of their monetary systems as a result of endemic political and economic crises. This collection of nicely integrated and consistent articles examines Ecuador's experience with dollarization. One chapter lays the groundwork for understanding the origins of Ecuador's crisis. A second chapter considers the theoretical and practical matters concerned with a country that forfeits its right to make its own monetary policy by shifting to a dollar economy. Two additional chapters consider the social implications of the Ecuadorian crisis by examining poverty and gender effects. Overall, this is a finely detailed and extremely informative report that deserves a wide reading. Recommended for upper-division undergraduate through professional collections. J. L. Dietz California State University, Fullerton
Reviews
This item was reviewed in:
Choice, February 2003
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Summaries
Long Description
Printed on Demand. Limited stock is held for this title. If you would like to order 30 copies or more please contact books@worldbank.org Contact books@worldbank.org, if currently unavailable. 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.
Long Description
The goal of the International Finance Corporation is to promote sustainable development through private sector investment in developing countries in order to reduce poverty and improve peopleA's lives. IFC often supports investments that involve complex social and environmental issues, and it takes these issues very seriously. IFC recognizes that the resettlement of people from their homes or displacement of people from their livelihoods is economically and socially disruptive and may affect some people living close to the edge of survival. Where resettlement is unavoidable, each project requires its utmost attention. IFC considers resettlement an opportunity to improve peoples' lives by providing sustainable benefits and improved means of livelihood to people affected by IFC-financed projects. This handbook outlines methods and practices for the preparation of successful resettlement action plans conforming to IFC's policy on involuntary resettlement. As a reference for project developers, it describes the issues associated with the economic and physical displacement of people and provides an appreciation of the level of effort a project will require. It is intended primarily to assist the practitioners, consultants, NGOs, and community-based organizations that design and carry out resettlement activities. The handbook may be used in conjunction with IFC's public consultation Good Practice Manual and its Community Development Guide.
Main Description
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.
Main Description
Early in 2000, Ecuador, in response to a serious economic and governance crisis, adopted the U.S. dollar as its national currency. This publication examines the economic conditions leading upto this action (including rising inflation, government intervention in the banking system and large fiscal deficits), describing the repeated cycles of crisis and failed stabilisation that fatally undermined confidence in the Ecuadoran sucre. It then goes on to analyse the initial results and its effects on inflation, growth, poverty, inequality, marginalisation and gender, as well as placing Ecuador's experience with dollarisation in an international perspective.
Long Description
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 EcuadorA's economic and social structure and assesses the impact felt as a result of the decision.
Table of Contents
Preface
Abbreviations
Crisis and Dollarization: An Overviewp. 1
Longer-Term Origins of Ecuador's "Predollarization" Crisisp. 17
Ecuador under Dollarization: Opportunities and Risksp. 81
Ecuador: Crisis, Poverty, and Social Protectionp. 127
Gender Dimensions of Vulnerability to Exogenous Shocks: The Case of Ecuadorp. 177
Table of Contents provided by Blackwell. All Rights Reserved.

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