The arrival of dollarization to Ecuador and its impact on human development
Keywords:the implementation of the dollar currency, dollarization in Ecuador, Ecuador's economic development with the dollar, Ecuador's human development with dollarization
19 years ago the US currency known as the dollar came to our country as a change to improve the economy, in the middle of a deep crisis, the President of the Republic of Ecuador Dr. Jamil Mahuad said: "The dollarization system of the economy is the only way out that we now have, and it is the road we must travel, "making Ecuador the first Latin American country to change its national currency for a foreign one, the same one that is a reference for measuring the value of money to world level. Dollarization after 19 years implemented in our country is sustainable and has given Ecuador the first period of monetary stability in the financial markets for more than 16 years or more, going from being a low-dollar economy to a highly dollarized economy and has helped to the recovery of the economy after the disastrous year 1999.
We will review the social and economic effects that dollarization has caused, using the method of scientific research, analyzing essays, articles and books published by analysts of this topic during the last 5 years.