Latin America Embraces US Dollar, Changing Financial Landscape Forever
The article explores how many Latin American countries use US dollars alongside their own currency. By studying the amount of foreign currency in circulation, the researchers found that this practice, known as dollarization, has significant effects on the economy. They also looked at why people choose to use foreign currency and how this decision impacts the country's financial system. In Argentina, they found that the more people use foreign currency, the harder it is to switch back to using only the local currency.