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Dollarization, economic growth, and employment

Authors
Publisher
Elsevier B.V.
Publication Date
Volume
105
Issue
1
Identifiers
DOI: 10.1016/j.econlet.2009.05.012
Keywords
  • Dollarization
  • Employment
  • Economic Growth
Disciplines
  • Economics

Abstract

Abstract Dollarization brought price stability and higher economic growth to Ecuador. Nevertheless, unemployment remained stubbornly high. Two opposing forces explain this result: sustained growth led to higher labor demand but price stabilization triggered substitution effects by cheaper intermediate goods and capital.

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