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1. Dollarization: The Case of Zimbabwe

Author:
Joseph Noko
Publication Date:
06-2011
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
This article investigates the recent monetary experience of Zimbabwe with dollarization. It shows how dollarization has allowed Zimbabwe to quash hyperinflation, restore stability, increase budgetary discipline, and reestablish monetary credibility. Zimbabwe's hyperinflationary past and the stabilization measures taken by the government are outlined, and the consequences defined. Problems arising from a lack of financial integration, an error in the choice of currency to dollarize under, and the inability of the government to enter into a formal dollarization agreement are discussed.
Political Geography:
Zimbabwe

2. On the Measurement of Zimbabwe's Hyperinflation

Author:
Steve H. Hanke and Alex K. F. Kwok
Publication Date:
10-2009
Content Type:
Journal Article
Journal:
The Cato Journal
Institution:
The Cato Institute
Abstract:
Zimbabwe experienced the first hyperinflation of the 21st century. The government terminated the reporting of official inflation statistics, however, prior to the final explosive months of Zimbabwe's hyperinflation. We demonstrate that standard economic theory can be applied to overcome this apparent insurmountable data problem. In consequence, we are able to produce the only reliable record of the second highest inflation in world history.
Political Geography:
Central Asia, Eastern Europe, and Zimbabwe