完全美元化及利弊评析

Comments on the Benefits and Costs of Full Dollarization

完全美元化是指完全放弃本币 ,使用外币 (美元 )作为记账单位、支付手段或价值储藏 ,具有无限法偿能力 ,其实质是完全而不可逆转的固定汇率制度。评析了完全美元化的利与弊 ,指出完全美元化是一把“双刃剑” ,其无论对于美元化国家还是对于美国都会带来一定的经济利益 。

Full dollarization is the case when a country completely abandons the use of its national currency and adopts the dollar as a unit of account, means of payments, or store of value, i.e., adopts the official currency as legal tender. In a sense, it can be compared to the adoption of a fixed exchange regime, however it is a more extreme case. The purpose of this paper is to comment on the benefits and costs of full dollarization. It is proposed that full dollarization is a “double sword”. Whether for the country of full dollarization or for U.S., full dollarization has several potential benefits and some economic costs.