Latin American Official Dollarization

All rights reserved. Most of the economies of the Latin American subcontinent are expected to dollarize officially before 2010. When this occurs, two or more similar monetary blocs will emerge, configured like the so-called wild gees flock paradigm foreseen by Kaname Akamatsu (1962) for the productive sphere. Ordered groups of countries will form that will adhere to the dollar, euro, or yen. The countries that decide to fly alone, without the guidance of "geeseleaders" will be left aside by the dynamics of the new international division of labour.