Freitas, Miguel Lebre deLouis, Mérimèche Marco2025-07-212025-07-212025-01-272025-01-27http://hdl.handle.net/10362/185381This study evaluates the performance of dollarized economies in Latin America during the 2008 Global Financial Crisis, focusing on Ecuador and El Salvador, to assess the effectiveness of dollarization as a crisis-resilient monetary regime. The analysis uses the Synthetic Control Method alongside Difference-in-Differences to compare these countries to counterfactual non dollarized scenarios across three key economic indicators. Results show that dollarization did not outperform the counterfactual, with El Salvador significantly underperforming. The findings emphasize the limitations of dollarized monetary regimes in providing resilience during crises in Latin America, particularly for economies lacking structural reforms and institutional readiness when adopting the dollar.engEcuadorEl SalvadorDollarizationGlobal financial crisisCurrent account balanceLogarithm GDP per capitaInflationmaster thesism.merimeche@gmail.com