ThepaperpresentsandexaminestheimpactofdollarizationongrowthanddevelopmentofemergingeconomieswithspecificreferencetoZimbabwe’sexperienceintheperiod,2009-2018.Theresearchstudyexploresthetheoreticalandempiricalevidencedrawnfromcountriesoftheworldthatdollarizedforvariouseconomicreasons.Thestudyusedadescriptivesurveydesigntoanalysetheresearchdatadrawnfromthefieldontheimpactofdollarizationoneconomicgrowthanddevelopmentprospectsofdollarizedemergingeconomies.Itwasfoundoutthatdollarizationwasessentialinreducinghighinflationandunemploymentratestoacceptablelevels,increasedaggregatesupplyanddemand,thegrossdomesticproduct(GDP),andlivingstandardsofthecitizensofdevelopingnations.Thestudyconcludedthatdollarizationcontributedsignificantlytothegrowthanddevelopmentofmostemergingeconomiesoftheworld.ItwasthereforerecommendedthatemergingeconomiessuchasZimbabweshouldrationallyandeffectivelydollarizeintheirdesiretoattainallthemillenniumdevelopmentgoals(MDGs),anddrivetowardseliminationofdependenceonrichnations,self-reliance,andsustainabledevelopment.
