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La dolarización financiera: Experiencia internacional y perspectivas para Colombia

Author

Listed:
  • Carlos Eduardo León Rincón
  • Alejandro Reveiz

Abstract

Las monedas locales de los países en vías de desarrollo, además de no ser libremente convertibles a nivel internacional, suelen experimentar niveles de inflación superiores y más volátiles, al tiempo que tienden a sufrir periodos de fuerte apreciación y depreciación. Estas bien conocidas características no solo implican un reto para las autoridades económicas de estos países, sino que también llaman la atención sobre la capacidad de las monedas locales para cumplir cabalmente con sus funciones. Colombia, a pesar de ser reconocida por su historial de manejo monetario disciplinado, no ha escapado a ocasionales cuestionamientos sobre la conveniencia de mantener el peso para cumplir con las funciones de la moneda. Estos esporádicos cuestionamientos coinciden con periodos de fuerte apreciación o depreciación de la moneda, en los cuales se han escuchado interrogantes sobre la conveniencia de llevar a cabo una dolarización total o parcial de la economía. Al respecto, son pocos los países que han optado por reemplazar totalmente la moneda local por una extranjera para que esta última cumpla con todas las funciones de la moneda, pero sí son muchos los países que han permitido la dolarización parcial de la economía. Basado en la experiencia internacional, y en especial por las características de la economía colombiana, este documento concluye que la dolarización financiera conllevaría costos elevados, en especial si se comparan con unos beneficios limitados y apenas potenciales.

Suggested Citation

  • Carlos Eduardo León Rincón & Alejandro Reveiz, 2008. "La dolarización financiera: Experiencia internacional y perspectivas para Colombia," Borradores de Economia 482, Banco de la Republica de Colombia.
    • Handle: RePEc:bdr:borrec:482
    DOI: 10.32468/be.482
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    References listed on IDEAS

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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. ¿Debe Argentina copiar al sistema monetario y bancario de Panamá?
      by Adrián Ravier in Punto de Vista Economico on 2012-06-14 01:34:36
    2. ¿Debe Colombia copiar al sistema monetario y bancario de Panamá?
      by Adrián Ravier in Punto de Vista Economico on 2012-07-11 22:16:55

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    Cited by:

    1. Martín Tobal, 2013. "Currency Mismatch: New Database and Indicators for Latin America and the Caribbean," Documentos de Investigación - Research Papers 12, CEMLA.
    2. Lya Paola Sierra Suárez & Diana Maribel Lozano Baquero, 2010. "¿Qué sabemos sobre la Dolarización y sus efectos en las Economías Latinoamericanas que la adoptaron?," Revista Facultad de Ciencias Económicas, Universidad Militar Nueva Granada, June.
    3. Martin Tobal, 2018. "Currency Mismatch in the Banking Sector in Latin America and the Caribbean," International Journal of Central Banking, International Journal of Central Banking, vol. 14(1), pages 317-364, January.

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    More about this item

    Keywords

    Dolarización; dolarización financiera; dolarización parcial; indexación; fear of floating; riesgo cambiario.;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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