Changing the focus of the exchange rate regimes debate in emerging economies : causes and scope of de-dollarization in Latin America.

In the late 1990s, controversies among academics and policymakers were focused to a large extent on the "pros and cons" of adopting a monetary regime of complete and official dollarization in many emerging countries. Conversely, towards the mid-2000s de-dollarization is one of the main themes of debates about monetary and financial issues in this region. Within this framework, the purpose of this study is, firstly, to ascertain the factors that have led to such a state of affairs. Subsequently, we are going to try to see what are the effects of Önancial dollarization by drawing on a few equations that include elements from the models usually used in the theoretical literature on this question. Lastly, insofar as the benefits of reducing the scope of financial dollarization are increasingly propounded, we study the extent to which de-dollarization has been implemented in the region's countries in the last few years.