Abstract

PAREDES, Gonzalo J.. Un análisis de la pérdida de soberanía monetaria desde la teoría de la regulación: Argentina y Ecuador. Ciclos hist. econ. soc. [online]. 2019, vol.30, n.52, pp.81-90. ISSN 1851-3735.

This work is based on a theoretical structure presented by Bruno Théret and the research of the founders of the French school of the regulation theory. Theret (2013) points out that the monetary sovereignty is supported while the three dimensions of confidence are coalescing: methodical, hierarchical and ethical. When it is not the case, it is identified as crisis of monetary sovereignty, allowing the possibility of losing the currency,totally or partially.

The comparative analysis presented in this works concluded that Ecuador assumed the loss of the monetary sovereignty differently from Argentina, reducing the problems caused by monetary restriction.

However, the loss of monetary sovereignty, even if it is not total, could destroy the social and productive structure of an economy and the confidence coalition that supports the currency, it is part of its institutional nature. Any economy with successive and permanent external shocks cannot cope with the existing coalition, much more if the debt structure is extremely complex.

Keywords : dollarization; currency board; monetary sovereignty; regulation theory.

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