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Dollarisation in Argentina - Is the dollarisation of the Argentine peso a viable response to Argentina’s persistent economic instability? A comparative analysis of Ecuador and El Salvador

Guiot, Alix
(2025)

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Supervisors
Candelon, Bertrand
Faculty
Louvain School of Management
Degree label
Master [120] : ingénieur de gestion, à finalité spécialisée
Abstract
The election of the libertarian candidate Javier Milei in Argentina in November 2023 marked a significant economic turning point, introducing ambitious reforms such as the closure of the Central Bank of Argentina and the dollarisation of the economy. For decades, Argentine citizens have lost trust in their national currency, exacerbating the phenomenon of dollarisation as a strategy to counter monetary instability (Messari, 2024). Focusing on full dollarisation, this study explores its theoretical advantages and disadvantages, as well as its impact on economic stability, by examining the cases of Ecuador, highlighting a notable experience in recent years. Adopting a quantitative approach using linear regression models applied to panel data, the research evaluates the effects of dollarisation on two key indicators: inflation and GDP growth. The aim is to determine to what extent dollarisation can genuinely stabilise these economic indicators through a before-and-after dollarisation analysis.